Dear ScaleUps,
Hope it’s been a productive and purposeful week. Here are some insights/opportunities to help you outlearn/outthink the competition.
| A fair day’s wage for a fair day’s work. | |
| Ageless wisdom | |
Fun 2-Minutes --
Enjoy this 2-minute sizzle reel from the last Summit - and yes, the young man in the video is my 11- year-old son Quinn. See you in Anaheim for the next Summit.
It's About TIME: How Businesses Can Save the World (One Worker at a Time) --
Are you scaling your business on the backs of your employees’ cash? This is the first book published by Conscious Capitalism and authored by Safwan Shah. Founder and CEO of PayActiv, this 21-minute keynote details why business owners need to think seriously about the frequency with which they pay employees, particularly frontline workers. It used to be that workers were paid daily, so why aren’t they today? Seems fair and would eliminate the payday loan industry. And if you’re not paying daily, then you have to consider that you’re scaling your business using cash due employees! Safwan’s firm allows companies to do just this - pay workers daily, critical for those employing lower paid frontline people. Please consider it.
It’s About Time for Canada (and all countries) to Focus on Scaleups --
Reinforcing the importance of scaleups - the unsung heroes of economies - this IT World Canada article highlights how Canada, like most countries, doesn’t need more startups. What it needs are more scaleups - a message we’re shouting from the rooftops in the countries in which we operate. Thank you to Scaling Up Certified coach Rob Nankervis for sharing.
Publicity for Your Firm? --
The “scaleup” message is important to all your communities. As such, one angle you might take, in garnering some local or industry publicity, is to talk to the publication editors about the importance of featuring scaleups - and that you’re a viable example if they are looking for one. And if they need an outside expert to validate this important economic fact, I’m happy to help add some color commentary to the piece in support of your firm and scaleups in general. The article above can be a useful starting point in your conversation with the editors.
Global 500 List - Fun Facts
For the first time China has more companies on the list than the US - 129 vs. 121. With a total revenue of $32.7 trillion (roughly 40% of global economy) and combined profits of $2.15 trillion the average profitability of the Global 500 was 6.57% in 2018. And employing just 69.3 million people, less than 1% of the global population, the average revenue per employee is a whopping $471,861. Hail the Fortune Global 500 for their amazing productivity.
Walmart, Aramco, Walmart, Apple --
Walmart took top honors, again, for both revenue ($514 billion) and number of employees (2.2 million). In turn, Saudi Aramco beat out Apple for most profit -- $110 billion vs. just $59 billion! Where Apple continues to crush the entire list is not revenue, but profit/employee -- $451k -- just under the average revenue/employee for the entire list. Conclusions for us mere mortals? Profit should be 3x - 5x your industry, so pick a firm or two off the list and compares numbers. Second, brand and process matter - which is why these firms have pricing power and can drive 3x the revenue/employee of mid-market firms.
…And Only 14 Female CEOs --
This is up from 12 last year and will go to 15 in September when Julie Sweet takes the helm at Accenture.
50 Most Valuable Sports Teams – More Fun Facts
Forbes released their list with the Dallas Cowboys, New York Yankees, Real Madrid, FC Barcelona (yea!) and New York Knicks comprising the top five. In general, sports teams have been a great performing asset class. Why? Because they are “shows” people want to watch real time, so no one is skipping through commercials - and the merchandising potential.
CEO-BOOTCAMP: spend 3.5 days with Verne, serial entrepreneur John Ratliff, and 6 other CEOs in a beautiful retreat setting, addressing the constraints holding back you, your business, and your industry. Aug 20 - 23, 2019 (Sold Out); Jan 14 - 17; Jan 21 - 24; Mar 10 - 13, 2020.
EXITING: Thinking about selling the business for $40 million or more? Want to get 25% to 200% more than you thought? Request the whitepaper from the Exit Strategies Summit at Harvard from Verne Harnish at [email protected]
WRITE AND PUBLISH A BOOK to Grow Your Business and be THE Authority in your space. My publisher and friend Adam Witty at ForbesBooks has streamlined the process. forbesbooks.com/scalingup for more information and to take their Authority Assessment
COACHING:
Have you ever wondered if working with a coach might accelerate your company's growth, exponentially? Do you have what it takes to move the dial from good to great? The Scaling Up team is prepared to support you. We have helped 40,000 other organizations over the past 30+ years, in scaling up their organizations through coaching, workshops, online training and more.
We would like to offer you a complimentary, personal follow-up from our Scaling Up team to share how we can support you in scaling your organization.
YES! I WOULD LIKE TO LEARN MORE ABOUT COACHING & RECEIVE A COMPLIMENTARY FOLLOW-UP (CLICK HERE)
For questions or more information contact us at [email protected]
TECHNOLOGY:
Create Accountability - Drive Execution with Align, cloud-based software designed to scale up your Rockefeller Habits implementation. www.alignwithscalingup.com - on your computer, tablet or phone. Click here to watch an introductory video.
Better Book Club -- What's your team reading? Increase your books read per team member. Easy, Proven, and in the Cloud at http://www.BetterBookClub.com.