Dear ScaleUps,
Hope it’s been a productive and purposeful week. Here are some insights/opportunities to help you outlearn/outthink the competition.
ScaleUp Summit Anaheim --
Join the largest gathering of executives leading scaleups - along with a dozen+ authors of the top business books to outlearn the competition - and have some fun. Ben Horowitz, Chip Conley, David Meerman Scott, John DiJulius, Robert Glazer, Alden Mills, Mark Divine, Santiago Jaramillo, and the infamous Molly Bloom (of the movie Molly’s Game fame) and more. We’ll host a fun casino party in Molly’s honor with the band Policed. And I’ll be leading an optional half-day Scaling Up workshop included in the registration price. Executive education is no longer a nice-to-have, it’s the single highest ROI of any marginal dollar invested - and the Summit is like reading a dozen biz books, the pace of A-player execs. See you in Anaheim Oct 15 – 17.
Red Balloon’s Latest BHAG and Scoreboard --
In 2005 Red Balloon founder Naomi Simson, having sold just 7500 experiences, set a BHAG to sell 2 million experiences (representing 10% of Australia’s population) by 2015.Equally important, she put up a big scoreboard and tracked it real time. Results? Her team achieved the BHAG two years early, in 2013. Her latest BHAG is based around “velocity of experiences served” with the goal being 1 per second! Currently they are at 1 per 49 seconds. Are you tracking your BHAG real time? Posted on big scoreboards?
6 Questions Before Launching a Moon-Shot Project --
This HBR article uses Jeff Bezos’s space ambitions to demonstrate six questions to evaluate the likely success of a significant project. Notes the authors:
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Not surprising, the six questions are summarized as Who, What, When, Where, How, and Why - the same that have driven the One-Page Strategic Plan for almost two decades. And we would add “should or shouldn’t” - a core values/ethical question Anyway, the more detailed questions in the article are excellent and serve as a quick way to evaluate your ambitious projects. I have a new moon-shot project to bring together the owners of sports team in the US and Europe and using these 6 questions during a key meeting today to assess the likely success - stay tuned. Thanks to Steve Hall for sharing.
Rewarding A-Players --
Our 180+ coaching partners participate in a Yammer channel where they support each other in coaching you. This week one of the partners posted “A client has asked how she should better understand the drivers/motivations of her A-Players and appropriately reward them to inspire and retain that valuable talent. Interested in what others have done.” Another partner responded with an excellent list:
- Provide them with stretching assignments, challenges and projects.
- Ensure that they have a line manager/ leader as their Boss/ Coach. Nothing pisses off A players more than having a poor boss
- Remove C players from the team. Again, nothing frustrates A players more than having to put up with DoDos
- Provide regular coaching and 1-2-1s. Ensure that they have a clear progression route to grow up through the company
- Provide them with ongoing business education. Gazelles Growth Institute is great for this and you can set up specific pathways.
- Take the time to recognize their efforts and thank them for their contribution. Employee recognition is one of the key facets of employee engagement.
- Conduct a strengths finder exercise and ensure that they are in a role that plays to these strengths.
- Make sure that you are removing all the barriers that are preventing them from doing their job.
- Ensure that you are rewarding them with the right remuneration for the results that they are achieving
ScaleUp Masters’ Program (SMP) Coming to Philadelphia --
Feb 24 - 26 is the kickoff of our next SMP. It’s an opportunity for five firms to coming together quarterly for a year to master the tools/techniques of Scaling Up (Rockefeller Habits 2.0). The program integrates all our offerings - coaching, learning, and our technology platform that gives you a real time scoreboard to drive execution. For more information go to this link.
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. Jan 14 - 17; Jan 21 - 24; Mar 10 - 13, 2020.
EXITING: Looking to sell the business in the next 18 to 36 months? Want to avoid the traps many sellers fall into with today's buyers? You can download the white paper Seven Traps Sophisticated Buyers Deploy Against Unwary Sellers from align5 advisors here
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.