By doubting we are led to question; by questioning we arrive at the truth.
Peter Abelard
More companies die of indigestion than starvation.
Andy Grove
Inflation and Indigestion – Webinar with Verne June 16 |12:30pm ET
Next Wednesday I’m leading a free webinar addressing some of the new challenges/opportunities facing growth firms. More below, but first…
Buy vs. Build – Baby Boomers Fueling M&A
It’s time to be bullish about scaling via acquisition because of the availability of inexpensive debt – the market is flooded with loan assistance programs and bank credit. In addition, firms are flush with cash from government assistance payments and many people took retirement packages in the pandemic and have cash to leverage a purchase. Buyers are outnumbering sellers, so prices for companies are going up. In turn, many baby boomers are wanting to exit. Scaling via acquisition is a key trend this decade – and exiting for top dollar --this CNBC article details why.
Planning to Exit?
It’s the most critical decision a business owner will make in their lifetime – and over my 40 years of helping firms I’ve seen owners taken advantage of time and time again – leaving tens of millions on the table. You’re up against sophisticated buyers who have done hundreds of acquisitions – whereas this is often your first rodeo. And these buyers have a formula for ripping you off – and it works. Seeking help, owners find the big M&A firms, especially those specializing in your industry, are more beholden to the buyers than the sellers (they will tell you otherwise). They are not your friend in the process, just another transaction. Email me to get a white paper on what to avoid when exiting [email protected].
Paradigm’s Flywheel Powers 100% Growth (Scaling Up Case Study)
Flat on his back with a herniated disc and the sole salesperson, Tim Winter’s Building Paradigm Group only had a trickle of leads and was struggling under increasing lumber prices and debt coming due. That has all changed since Winter engaged Scaling Up Certified coach Trey House. To increase cash flow, they reduced the time to start a building project from 6-7 months to four months. With a brand promise of “Love 100% of your home” Winter has created a flywheel for the business – a virtuous cycle that’s driving new business, doubling both revenues and profits the past 12 months ($5 million to $10 million, on the way to $20 million in 2022). This ScaleUps.com article details their Flywheel along with their BHAG, Brand Promises, Core Values, and Purpose – the core elements of our one-page Vision Summary.
“Stress-Free” or $250 on the Spot (Scaling Up Case Study)
Valor Home Services, founded by 26-year Air Force veteran Bill Wilson, will almost double revenue this past 12 months. One key is a clear set of brand promises – better communication, exceptional quality and budget accountability. Notes Wilson, “If the home-owner does not think we’ve created a stress-free experience, we’ll pay them $250 and make it right,” as a brand promise guarantee. Working with his Scaling Up Certified coach Herb Cogliano, Wilson has formulated a One-Page Strategic Plan (OPSP) that includes a set of core values and BHAG to create a 1000 stress-free home improvement experiences by 2030 (love that he chose the word experiences vs. projects) by 2030. This ScaleUps.com article provides more detail including his use of Topgrading for hiring and the thought he put into Valor’s shield and five-star logo. Races are won by hundredths of a second – all this attention to detail matters.
Inflation and Indigestion -- Webinar with Verne June 16 | 12:30pm ET
More companies die of indigestion than starvation, as the famous Andy Grove moniker goes. With the economy roaring back, the Scaling Up tools/techniques create alignment, focus, discipline and speed of communication as companies face supply chain and talent shortages. On June 16 I’m hosting a LIVE online training where I’ll share four keys to doing just that and as a result, help you manage the chaos that comes with scale. Click here to register for the free training. In this 90-minute LIVE training you will learn:
- Keys to managing chaos so your company can quickly adapt and survive any disruption or crisis without drama
- What companies are doing right now to become more agile and how this is positioning them to scale up as we emerge from the pandemic
- 2 things you must implement TODAY to get your team aligned, focused, and energized so you can scale with certainty and ease
- Live Q&A with me and Scaling Up Coach, Daniel Marcos
Weekend Countdown – 1-Minute of Wisdom
Enjoy this kickoff to your weekend – some bits of wisdom from a fresh set of wise teachers, updated each weekend. https://vimeo.com/showcase/weekendcountdown
*As an Amazon Associate, I may earn revenue from qualified purchases made through this link.
Order a box of 20 Scaling Up books
Want to save 50% over the price on Amazon? Go to this link.
COACHING:
Ready to scale but looking for guidance?
Work with a Coach! Scaling a company is hard, but you don’t have to go it alone. Elevate your business with the only end-to-end solution for entrepreneurs that are ready to move past the plateau and get exponential results. Whether you’re in growth mode, planning strategy, raising capital, or navigating a complex economic landscape, Scaling Up's globally recognized coaches leverage effective tools and an evidence-based methodology to empower you to achieve results. Over 70,000 businesses have done it!
Learn more about what it’s like to work with a Scaling Up Certified Coach™ by scheduling a complimentary, personal follow-up. CLICK HERE! Or check out our FAQ’s. Additional questions can be sent to [email protected].
TECHNOLOGY:
ScalingUp Scoreboard
Integrated with Salesforce, Slack, and Zapier (allowing it to connect with 1000s of systems), use Scoreboard to provide your team (working remotely even more important!) a real time visual dashboard of cascading priorities and metrics. Get a personalized tour of Scaling Up Scoreboard to see how you can use it to better implement Scaling Up in your business.
EDUCATION:
Growth Institute Online Executive Education:
Master of Business Dynamics
Scaling Up Master Business Course
Exponential Organizations Master Business Course
Topgrading Master Business Course
We’re still in business coaching and training firms:
WNY, Ontario, Great Lakes – June 11, 2021 (Virtual)
Melbourne, VIC, AUS - June 15, 2021 (In-person)
Dallas, TX – June 16, 2021 (Virtual)
Dallas, TX – June 17, 2021 (In-Person)
Lowell, Michigan - Jul 22, 2021
Salisbury, England - July 6, 2021
California - July 19 & 20, 2021 - 2 Day Master Class (Virtual)
Dallas, TX - Aug 12, 2021
Sydney, Australia - Aug 25, 2021
Phoenix, AZ - Aug 26, 2021 (In-Person)
Melbourne, VIC, AUS - Sep 7, 2021 (Virtual)
Brisbane, Australia - Sep 22, 2021 (In-Person)
Lowell, Michigan - Sep 22, 2021
Lancaster, PA - Oct 26, 2021
Sydney, Australia - Oct 27, 2021
Lowell, Michigan - Nov 4, 2021
Salisbury, England - Nov 18, 2021
Melbourne, VIC, AUS - Nov 23, 2021 (Virtual)
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.
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.
Did you miss previous insights? - read here
Follow our new Instagram account: @scalingup2.0
Read Verne's Insights on Kindle http://www.amazon.com/gp/product/B003SX13YI
Sign up for Verne's Weekly Insights