Summary of "Ownership Lessons We Can Learn from the Coldplay Jumbotron Incident | Operator Pod Ep 2"
Podcast Information:
- Title: Build with Leila Hormozi
- Host/Author: Leila Hormozi
- Description: How can you create an unshakeable business? My name is Leila Hormozi and I crossed $100M by the age of 28. Now I’m growing acquisition.com into a billion-dollar portfolio. In this podcast, I share the lessons I’ve learned in scaling big businesses and helping our portfolio companies do the same. Buckle up, Let's BUILD.
- Episode: Ownership Lessons We Can Learn from the Coldplay Jumbotron Incident | Operator Pod Ep 2
- Release Date: July 30, 2025
1. Introduction to Crisis Communication
The episode kicks off with Sharan Trivaza introducing the topic of effective communication during crises, emphasizing its importance for business owners and entrepreneurs. He references a recent incident involving Coldplay’s Jumbotron mishap to frame the discussion.
Notable Quote:
- Sharan Trivaza [00:00]: "Bad news doesn't get better with time... how you communicate during times of crisis is really important."
2. The Importance of Honesty and Accountability
Leila Hormozi stresses that honesty is paramount when a company faces a crisis. She advises against seeking PR angles or managing reputation through manipulative tactics. Instead, taking full accountability is crucial.
Notable Quotes:
- Leila Hormozi [02:03]: "The worst thing you can do is compound the lies. I think that the worst thing about a mistake is that you double down on it, doubling down on the lie."
- Sharan Trivaza [04:02]: "You have to be the first to tell the truth."
3. Owning the Narrative
Both hosts agree on the necessity of owning the story immediately to prevent misinformation and rumors from taking hold. Leila shares her experience with her company’s initial negative feedback and how honesty helped turn the situation around.
Notable Quotes:
- Leila Hormozi [04:23]: "Own the narrative and be the first to the headlines."
- Sharan Trivaza [13:07]: "Bad news doesn't get better with time. I just need to be the first response."
4. Building and Maintaining Reputation
Consistency in behavior and communication is highlighted as a cornerstone for maintaining a strong reputation. Sharan shares a personal story about handling a financial crisis within his team and the steps he took to regain trust.
Notable Quotes:
- Sharan Trivaza [25:47]: "I have not lost my cool since then... it's a promise to yourself."
- Leila Hormozi [09:20]: "Until you change your behavior and do it for enough time, your reputation is damaged."
5. Leadership Sacrifices for Company Growth
Leila and Sharan discuss the personal sacrifices leaders often make to ensure the company's success. Leila mentions providing valuable resources for free to establish goodwill, positioning the company as an industry leader.
Notable Quotes:
- Leila Hormozi [21:07]: "We gave everything away. That alone could have been a $30,000 online course or a workshop... here's everything we've learned."
- Sharan Trivaza [21:08]: "Goodwill of marketplace is really important."
6. Effective Communication Strategies
The conversation delves into practical strategies for communicating changes and initiatives within a team. Leila emphasizes gathering feedback from all levels and addressing concerns with empathy.
Notable Quotes:
- Leila Hormozi [28:08]: "I'm always getting feedback from the entire company... addressing their concerns."
- Sharan Trivaza [33:43]: "Fears, frustrations, wants, and aspirations... It's a framework to think about them."
7. Optimizing One-on-One Meetings
Both hosts highlight the significance of well-structured one-on-one meetings. Leila shares her approach to creating a safe and productive environment for these interactions, while Sharan emphasizes preparation and meaningful dialogue.
Notable Quotes:
- Leila Hormozi [54:43]: "If somebody doesn't take the time to prep my one on one... it's not worth either of our time."
- Sharan Trivaza [62:39]: "If you're a manager and you're not spending time thinking about the one on ones, you're leaving a lot of impact and opportunity on the table."
8. Strategic Hiring and Valuing Character
The episode explores the importance of hiring individuals with strong character and integrity, sometimes even over those with higher compensation. Leila recounts advice from her mentor about prioritizing personal values in recruitment.
Notable Quotes:
- Leila Hormozi [47:34]: "Nobody with high character will work for somebody with lesser character than them."
- Sharan Trivaza [48:27]: "The one thing you have going for you is you're actually a good person."
9. Practical Frameworks for Messaging and Decision-Making
Sharan introduces a framework for effective messaging by understanding the audience’s fears, frustrations, wants, and aspirations. This approach ensures communication is empathetic and aligned with the audience’s needs.
Notable Quotes:
- Sharan Trivaza [33:43]: "Fears, frustrations, wants, and aspirations... This removes my bias from the situation."
10. Conclusion and Key Takeaways
The episode wraps up by reinforcing the critical role of honesty, consistency, and strategic communication in building a resilient and respected business. Leila and Sharan provide actionable insights and frameworks that leaders can implement to navigate crises, foster trust, and maintain an unshakeable business foundation.
Final Thoughts:
- Leila Hormozi [56:12]: "I have to know what I'm doing... auditing your time, auditing your calendar."
- Sharan Trivaza [58:00]: "If you do that job well, you win."
Key Lessons:
- Honesty and Accountability: Always be truthful and take full responsibility during crises.
- Own the Narrative: Quickly address the situation to prevent misinformation.
- Consistency Builds Trust: Maintain consistent behavior to establish a strong reputation.
- Leadership Requires Sacrifices: Personal sacrifices are often necessary for the greater good of the company.
- Effective Communication: Utilize frameworks like fears, frustrations, wants, and aspirations to communicate empathetically.
- Strategic Hiring: Prioritize character and integrity when recruiting team members.
- Optimize One-on-Ones: Prepare and structure one-on-one meetings to maximize their effectiveness.
By integrating these lessons, leaders can enhance their ability to manage crises, build strong teams, and sustain long-term business success.