The Agile Scaleup

FAST vs. SMART Goals; Future 50; Costa Rica Summit; Oct 29 Webinar

Dear ScaleUps, 

Hope it’s been a productive and purposeful week. Here are some insights/opportunities to help you outlearn/outthink the competition.

Extreme communication. You say something 75 times, and then you have to say it another 75 times.
	AMD CEO Lisa Su, on how to execute a turnaround (Fortune)

Webinar Oct 29 – 3 Barriers to Scaling --
I'm going LIVE on October 29 with an online 90-min training.  More below, but first…

Costa Rica Jan 27 – Feb 1 -- $1000 Discount by Oct 31 --
More below, but second…

FAST vs. SMART Goals --
Rarely is there something new in standard business lingo that makes me pivot.  However, this MIT Sloan Management Review article suggested by Adam Grant (yes, the article is a year old) suggests FAST goals are better than SMART. SMART is a standard acronym I reference even in Scaling Up, yet I’ve always found it clunky and repetitive (aren’t Achievable and Realistic almost the same? Specific and Measurable two sides of the same coin?). What Donald Sull and Charles Sull suggest is the acronym FAST:

Frequently Discussed – aligns with our daily, weekly, quarterly meeting rhythm Ambitious – indicative of scaleups and much better than “attainable” Specific – their definition encompasses that the goal is measurable as well Transparent – supports the need for software like Scaling Up Scoreboard

Please take 2-minutes to read the details. I’m switching language in our workshops (and will update my book) – and hope you find this framework more comprehensive and representative of growing firms.

Top 30% Crushing Bottom 30% --
It seems the big are getting even bigger and the small, smaller when it comes to public companies. Lessons for all of us, this HBR article by Vijay Govindarajan, et. al details what smaller companies can do to breakthrough. My favorite paragraph:

How can a manager of a small firm escape the small size trap? We constructed a statistical model to distinguish between companies that remained small versus those that grew much larger. We find that the latter had a substantially higher investment in intangibles, larger debt raised (to finance investment), and fewer annual losses than the perennially small. Escapees had a relatively higher asset base and were younger than those left behind. Notably, investment in physical assets (property, plant, equipment), share buybacks, dividend payments, and acquisitions were negatively associated with the likelihood of escape.

It underpins research Jim Collins shared in Great by Choice (still my favorite of Jim’s books). He found that companies should only pour in capital and technology AFTER they’ve figured out their business model (i.e. one that is profitable!) And we’re big fans of smaller firms using much more debt to then accelerate a successful business model. Please take 2-minutes to read the article and then figure how to be highly profitable (right customer, right product/service) and then pour in the cash/debt!! 

Best Potential for Future Growth – and Crushing the Market --
Fortune’s “Future 50” last year recorded shareholder returns of 13.9%, significantly above the 7.6% for the MSCI world stock index. This week they released their latest list of 50 and making the top 10: Workday, Square, ServiceNow, Contemporary Amperex Technology, Spotify, Atlassian, Xiaomi, Ctrip.com, Salesforce, and Vertex Pharmaceuticals.

AI and Machine Learning Used to Determine Future 50 --
…and this Fortune article details the factors that go into determining which companies have the brightest future along the dimensions of strategy, technology and investments, people, and structure. And there was a focus on a “path to profitability” test. It’s worth 3 minutes to soak up the details – and contemplate your own company’s future. 

ScaleUp Summit Highlight Reel – Dallas May 5 – 6 is Next --
The equivalent of reading 24 books in two days, the latest ScaleUp Summit is highlighted in this 2-minute video produced by Align5 Films. And the party Tuesday night ran the latest it’s ever run – entertainment courtesy of the Dutch band Policed! The next Summit is May 5 – 6 (I teach a half-day Scaling Up workshop on May 7 – included in registration) in Dallas, TX.  $250 deposit to hold the best seats – based on size of team and timing of registration. See you in Dallas for another great line-up of keynotes representing the latest new biz books.

Webinar Oct 29 – 3 Barriers to Scaling --
I'm going LIVE on October 29 with an online training called 'Overcome the Growth Paradox - 3 Barriers That Keep You from Scaling in 2020'. I’ll share the common mistakes CEOs and business leaders tend to make that prevent them from achieving the growth they’re after. Join me for free here:

Costa Rica Jan 27 – Feb 1 -- $1000 Discount by Oct 31 --
January 2020 Scaling Your Mindset to Scale your Business retreat in Costa Rica is offering a $1,000 early bird discount before October 31st. Led by Scaling Up Certified coaches Juletta Broomfield and Lisa Foulger, here’s a link for more info.

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. Dec 3 - 6, 2019; Jan 14 - 17 (Sold Out); Mar 10 - 13; Jul 21 - 24; Aug 18 - 21, 2020.

ORDER a BOX of 20 SCALING UP BOOKS --
Want to save 50% over the price on Amazon? Go to this link. 

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

Write Your Own Book --
Whether you want to make it to the bestseller lists or just sell a lot more of your goods or services, with a profound competitive edge over the competition, Book The Business: How to Make BIG Money With Your Book Without Selling a Single Copy is for you!

Request your free copy of this ground-breaking book at advantagefamily.com/scalingup.

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:

Execute Scaling Up Faster and Drive Accountability -- Drive Execution with Scaling Up Scoreboard, the official software tool for implementing Scaling Up – available online and in a mobile app. The technology behind Scaling Up Scoreboard is proven to help you achieve 3.5x more goals. Learn more at https://scalingup.com/software/ - on your computer, tablet or phone.

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.

Dyson’s Decision; Father of iPod; Japan’s Coach; Shanghai Next Week

Dear ScaleUps, 

Hope it’s been a productive and purposeful week. Here are some insights/opportunities to help you outlearn/outthink the competition.

…the silver lining of this horrible decision is we can concentrate on those (other exciting projects).
	James Dyson on deciding to stop electric car project

Latest ScaleUp News --
Entries still open for Amazon ScaleUp Awards; Bob Glazer’s Elevate book excerpt – this news and more at ScaleUps.com, your one-stop weekly update. 

Dec 3 – 6 CEO Boot Camp --
With January selling out and March filling up, John Ratliff and I added Dec 3 – 6, Marathon, FL (great time to be where it’s warm) for another CEO Boot Camp – join 7 other CEOs where we bring our content and contacts to the table to remove the constraints in your business. 

Dyson Says No --
Saying “no” is often more important than saying yes – and this is just what billionaire inventor James Dyson did last week. Fortune’s exclusive interview with Dyson details why he pulled the plug on his electric car development after dumping $2.5 billion and 2 years into the project. Notes Fortune:

The story of his audacious but ultimately failed project also says much about Dyson, the rare executive who can combine blue-sky dreaming with steely-eyed financial discipline. At a time when every company speaks about innovation and disruption, Dyson’s decision to kill his electric car is a case study in the delicate balancing act of embracing ingenuity while keeping an eye on profits.

Please take 4 minutes to read Dyson’s story. 2018 revenues were up 25% to $5.6 billion and for the first-time profit exceeded $1 billion as his 14,000-employee firm (wow, I had no idea it was this big) continues to reinvent basic industries. What do you need to say no to, especially where it’s draining the firm and the resistance to stop is ego driven? 

Japan’s Rugby Team Defying All Odds – Coaching is Key --
For the first time making it into the quarter finals, Japan stunned Scotland, beating them 28 – 21 earlier this week. The key has been their coaching – and a deep understanding of how to play to one’s strengths. Notes this BBC report 2 days ago:

Conscious that Japanese players will generally be of smaller stature than their opponents, Hasegawa has compared his scrummaging technique with Japan to a punch, where "punching faster" will cause more impact than "punching harder". His breakthrough came in two Tests against Ireland in June 2017. Japan were overpowered in the scrum in the first Test. However, a minor change in the angle of the hooker saw the Brave Blossoms compete the following week. It was then the Japan forwards realised his ability to transform the scrum.

How do you turn a potential disadvantage into a dominating strategy with just the tweak of an angle in your business? Thank you UK Scaling Up Certified coach Neale Lewis who has been in Japan for the entire rugby world cup, sending me regular updates. 

Creator of iPod Shares Details --
Yes, it was locking up a Toshiba flash drive for 3+ years in an “exclusive supply” agreement that gave Apple the runway it needed to scale up the iPod and save the company. In this 9to5Mac Q&A with Tony Fadell, known as the “Father of the iPod”, he reveals details behind the iPod strategy including a later $4 billion purchase order for Samsung flash drives for the iPod nano, the largest purchase order in the company’s history to date. He also details why Sony didn’t compete and how a personal friend (and reporter) of Steve Jobs convinced him to make the iPod compatible with PCs. What key industry “constraint” do you need to lock up in a long-term exclusive arrangement to thwart the competition? Thank you to Scaling Up Certified coach Bill Gallagher for pointing me to this insightful interview.

Shanghai Next Week – Launch of Chinese (simplified) --
Over 200 YPOer and EOers and their teams will join me next week for 2.5 days in Scaling Up their firms – and participate in the book launch of Scaling Up in Chinese (simplified). Thank you to YPOer Mergen Chuluun for all your efforts to host this workshop.

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. Dec 3 - 6, 2019; Jan 14 - 17 (Sold Out); Mar 10 - 13; Jul 21 - 24; Aug 18 - 21, 2020.

ORDER a BOX of 20 SCALING UP BOOKS --
Want to save 50% over the price on Amazon? Go to this link. 

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

Looking to take a deeper dive? Join the align5 team at the Exit Strategy Retreat Oct 21-24 in Marathon, FL - same amazing venue as CEO Bootcamp! This event is limited to 5 growth company entrepreneurs. All aspects of the exit process will be covered in depth. Additional benefits for attendees and Retreat amenities detailed at the Exit Strategy Retreat site.

Write Your Own Book --
Whether you want to make it to the bestseller lists or just sell a lot more of your goods or services, with a profound competitive edge over the competition, Book The Business: How to Make BIG Money With Your Book Without Selling a Single Copy is for you!

Request your free copy of this ground-breaking book at advantagefamily.com/scalingup.

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.

$.99 Book Today; Aflac Duck; John DiJulius; Nick Dancer’s Concrete Biz; See You Next Week

Dear ScaleUps, 

Hope it’s been a productive and purposeful week. Here are some insights/opportunities to help you outlearn/outthink the competition.

The most important component of a world-class experience is that the staff is not focused on selling stuff. They are focused on building relationships and trying to make people’s lives better.
	John DiJulius, The Relationship Economy

Latest ScaleUp News --
“Unleashing the Power of Encouragement” by Co-Founder and Chairman of Griffin Phoenix Capital; “The Secret Power of Showing Up and Doing the Work” by Nick Dancer - this news and more at ScaleUps.com, your one-stop weekly update.

Sleep Helps You Spot Good Ideas --
Surprise, surprise, but sleep is critical, especially for entrepreneurs, in spotting good ideas. This HBR article details out the research and outcomes. 

The Relationship Economy --
Subtitled Building Stronger Customer Connections in the Digital Age, customer service guru John DiJulius released his latest book this week, just prior to keynoting our ScaleUp Summit. Go to page 186 and read the Ch. 9 takeaways - here are the first three:

1. Your competitor has the same products and services that you do. So all things being equal, how can an organization tip the scale in its favor? Convenience.
2. If you want to win in business, figure out how to be more convenient than your competition by removing traditional bottlenecks that customers are sick of.
3. The key to mitigating disloyalty is reducing customer effort. Companies should focus on making service easier, not more delightful, by reducing the amount of work required of customers to get their issues resolved.

What I love about John’s books are all the practical examples - it’s because he runs his own chain of spas/salons, so he lives in the real world of scaling and serving customers in a very competitive marketspace.

Aflac CEO for 30 Years, Keys to His Success --
10x the revenue and 50x the market cap, Dan Amos, as a 2^nd generation CEO, has been an outstanding leader of $22 billion Aflac. Creator of their famous duck brand, he took a risk with this quirky character. Notes Fortune:

The popularity of that wing-flapping Aflac duck has been a big reason behind the company’s success. Amos says he took a chance on the duck idea even though the $1 million television commercial cost twice as much as any other ad campaign in the company’s history. Most of all, he feared that “we were kinda making fun of our name.” But the ad campaign was an immediate hit “We only had 5 percent name recognition,” says Amos about the Aflac duck launch nearly 20 years ago. “We jumped all the way to 90 (percent) in three years and our sales doubled. So taking risks is worth it.”

Take Care of People – They’ll Take Care of Customer --
At the 1:10 mark in this 7-minute Fortune interview of Dan Amos, he reflects on the most important piece of advice he received from his dad and uncles who founded the firm - take care of the people and they’ll take care of the customer. As an example, his first year as CEO he asked the employees what they wanted, and it was an onsite day care center. Even though his lawyers pushed back, I loved his line in the interview “why would I ask the employees if I wasn’t going to do what they wanted.” Aflac became the first corporation in Georgia, 30 years ago, to host a child care center. The entire 7-minute interview is worth watching - if nothing else to see how a seasoned CEO handles questions and to get his simple, yet profound, insights. 

Day In, Day Out – $.99 Kindle Today (ScaleUp Story) --
Owner of Fort Wayne, IN-based Dancer Concrete Design, Nick Dancer has scaled his business into a regional leader in architectural finishes. He’s taken a lot of what he’s learned and wrote and released his first book this week titled Day In, Day Out: The Secret Power of Showing Up and Doing the Work. With one to two-page chapters (Nick gets to the point), spend $.99 and grab the Kindle version - and go right to chapter 40 “Love the Sludge” - worth the buck. Congrats Nick!!!

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.

ORDER a BOX of 20 SCALING UP BOOKS --
Want to save 50% over the price on Amazon? Go to this link. 

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

Looking to take a deeper dive? Join the align5 team at the Exit Strategy Retreat Oct 21-24 in Marathon, FL - same amazing venue as CEO Bootcamp! This event is limited to 5 growth company entrepreneurs. All aspects of the exit process will be covered in depth. Additional benefits for attendees and Retreat amenities detailed at the Exit Strategy Retreat site.

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.

Zuckerberg’s Leaked Audio; Glazer’s Elevate; Last Quarterly Theme; Dec 3 - 6, 2019 Boot Camp

Dear ScaleUps, 

Hope it’s been a productive and purposeful week. Here are some insights/opportunities to help you outlearn/outthink the competition.

The difference between what we do and what we’re capable of doing would suffice to solve most of the world’s problems.
	Mahatma Gandhi as quoted in Elevate

Latest ScaleUp News --
8 Things We Learned from Zuckerberg’s Leaked Audio - this news and more at ScaleUps.com, your one-stop weekly update.

New CEO Boot Camp Dates - Florida and Colorado
Since January has already sold out, John Ratliff and I just added Dec 3 - 6, 2019 - a good time to think deeply about 2020 and beyond. Several PE firms are sending CEOs given the immediate impact on valuation, revenue, and profits the boot camps are generating. Join 6 other CEOs for 3 intense days of personal instruction and coaching. We’ve also added July 21- 24 and August 18 - 21 dates in Estes Park, CO - www.ceo-bootcamp.com

Finish Strong - The One Thing This Quarter --
For many of us, 01 Oct was the beginning of our last quarter for the fiscal year.  How are you going to finish strong? What is the #1 Priority - The One Thing - your team needs to accomplish by 31 Dec.? Do you and your team have a strong “kick.” Scaling Up Certified coach Doug Wick shares in this article how his son Josh put a plan together to accomplish his One Thing - “to beat Chase in a race.” Please take 2 minutes to read how he did it and then read about some good biz examples. Then gather your team and pick a quarterly theme - it’s not too late to finish the year strong.

Elevate: Push Beyond Your Limits --
Entrepreneur and CEO Robert Glazer has written another short and insightful personal leadership book about capacity building - increasing your emotional, physical, intellectual, and spiritual capacity. Notes Glazer “…capacity building is not about doing more. It’s about doing more of the right things.” Just 126 pages, grab a copy of Glazer’s book and relish in the practical reminders this weekend. Glazer will also be speaking at the ScaleUp Summit in Anaheim Oct 15 - 17 - come meet and learn from him. One big lesson from Glazer? He knows how to bolt on brands to elevate his own - endorsers for the book include Adam Grant, Dan Pink, Seth Godin, and Dr. Oz!!

Electric Fans Consume 22% of World’s Electricity --
…which generates as much CO2 emissions as all the cars in the world. And until now, there hasn’t been much innovation for 100 years. Check out this Kickstarter campaign by biomimicry guru Jay Harman (he keynoted our Summit) crowd funding the new Flair ultra-efficient, quiet fan which uses a third the energy of even the well-known Dyson fan.  BTW, I’m receiving zero compensation for highlighting - not even a fan! Consider spending $178 and pre-purchasing two fans ($89 each) - and deeper discounts for 3, 4, or more. Support a fellow entrepreneur and the environment - your own and the world’s!! Thank you, Jay, for all you do. 

USC Group’s Visual Approach (Scaling Up Case Study) --
Australia-based UCS Group, which develops urban utility networks, has really embraced the Scaling Up approach. Check out their website: https://www.ucs.com.au/. Scroll around and you’ll see their values, purpose, brand promise (on the wall, their shirts, their vehicles), client video testimonials … and they bring it all together on their recruiting page: https://www.ucs.com.au/culture-careers/. And their CEO Stephen Ellich has ALL levels of leadership present for their annual retreat and quarterly reviews (ie: there are ~35 leaders in the room ranging from the founder and private equity investors through to team leaders who run their field operations). The culture and momentum they have built is just fantastic to see. What are you doing to make more visible your Vision Summary? Thank you Scaling Up Certified coach Rob Nankervis for sharing.