If you are the smartest person in the room, then you are in the wrong room.
Confucius
Most entrepreneurial ideas will sound crazy, stupid and uneconomic, and then they’ll turn out to be right.
Reed Hastings CEO Netflix
Top 5 Business Books of 2021
My annual article detailing the top 5 business books for 2021 published today on ScaleUps.com. See how many you’ve read or heard the authors keynote one of our virtual summits. In addition, there are two top 5 books from past lists – Influence and Teeming 2.0 -- that were significantly updated in 2021. Please take 2-minutes to scan through the list and read the reasons why they were chosen, one each for People, Strategy, Execution, Cash, and Personal Development. Here are the top 5:
People – Impact Players by Liz Wiseman
Strategy – The Innovation Stack by Jim McKelvey
Execution – The Heart of Business by Hubert Joly
Cash – Negotiate without Fear by Victoria Medvec
PD – Peak Mind by Amishi P. Jha
One CEO/COO Team Spot – Jan 11 – 14 CEO Boot Camp
Because of new COVID travel restrictions just announced, an international CEO/COO team needed to postpone their participation which opened up a spot. Join 8 other top CEOs/COOs for 3.5 days of intense preparation, one-on-one time with me, and fun Tuesday evening Jan 11 thru Friday afternoon Jan 14 in Marathon, FL (the Keys). Prepare for 2022 and beyond with John Ratliff and me sharing tools/techniques from Scaling Up and the books mentioned above www.ceo-bootcamp.com
FACe Tool – Function Accountability Chart
A-Player expert and Scaling Up coach Rick Crossland wrote an excellent article taking you through our Function Accountability Chart (FACe). I’m on the board of a firm which hired a new head of sales and their sales literally doubled this quarter from a budgeted $2 million to over $4 million! And as Rick suggests, you want to start with the results you would like to achieve with each position and then determine the KPIs. Last is evaluating if you have the right person in the right seat (the firm I’m advising also moved a couple key people horizontally to great advantage for everyone).
Where People Sit
I also spent quite a bit of time with the CEO this morning thinking through where everyone should physically sit. Most importantly, making sure that the head of sales and head of operations were physically co-located together (instead of sales being near their new head of marketing). Those two functions (oil and water) need to be tightly aligned to promise and deliver what the customer wants. And because marketing strategy equals strategy, I suggested the new CMO be located right next to the CEO’s office. Let one of our 207 coaching partners help you think through these important decisions.
Go From a Good to Great Interview?
Speaking of talent, EK Machine, this Fall River, WI-based firm, is adding an incentive to entice people to interview – Free Beer! This ad says it all! Hilarious (and effective?).
Two New “Exit Strategy Retreats” – March 2022
Limited to 8 CEOs each, John Ratliff and I just announced two new 3-day “Exit Strategy Retreats” to expand upon the whitepaper we authored on preparing your firm to exit. If you’re exploring selling your firm in the next 6 to 36 months, join us in Marathon, FL either March 20 – 23 or March 23 – 26. $7k discount for Scaling Up insight readers. For more information and application.
The $65.5 Million Secret Online Course
Scaling through 24 buyside acquisitions, John Ratliff exited for 14x earnings in an industry averaging 3x. In this new online course, he details how to build a company worth selling, even if you don’t. And if/when you do, how to garner a strategic vs. financial multiple for the business. Don’t leave tens of millions on the table – take time to go through John’s outstanding course. For details and a complete syllabus.
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
Order a box of 20 Scaling Up books
Want to save 50% over the price on Amazon? Go to this link.
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].
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:
Greater Sydney – Wollongong, Australis – Jan 12 & 13, 2022 (2 Day In-Person Workshop)
Chapel Hill, NC – Jan 19, 2022 (Virtual)
Franklin, TN - Jan 20, 2022 (Virtual)
Ann Arbor, MI – Jan 27, 2022 (Virtual)
Melbourne, Australia – Feb 16, 2022 (In-Person)
Indianapolis, IN– Feb 17, 2022 (Virtual)
San Francisco, CA – Feb 24, 2022 (Virtual)
Dallas, TX - Feb 24, 2022 (In-Person)
Brisbane, Australia – March 23, 2022 (In-Person)
Auckland, New Zealand – May 11 & 12, 2022 (In-Person 2 Day Master Class)
Melbourne, Australia – June 7, 2022 (In-Person)
Melbourne, Australia – Sep 13, 2022 (In-Person)
Melbourne, Australia – Nov 22, 2022 (In-Person)
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.
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. Our Scaling Up Certified Coaches™ are masters at guiding you and your leadership team through the implementation of the Scaling Up Operating system, all with a custom and diagnostic approach to each unique company.
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].
Did you miss previous insights? - read here
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