If you don't initiate the youth, they will burn down the village.
African proverb
This company is now a platform company to buy and grow.
Shawn Skaggs
Rite of Passage Programs for Men/Sons
One of the 8 ideas I’ve been championing this past decade is the importance of parents taking their children through “rite of passage” initiations. All four of my children have participated. There are a couple programs coming up on the east coast (West Virginia mountains):
Fathers and Sons Learning Together (sons 13 – 18) April 1 – 2
Young Men’s Rite of Passage (18 – 28) May 17 – 21
25 Acquisitions – Parallel Ag (Scaling Up Case Study)
This is our third in a series of “Scaling thru Acquisition” stories. Shawn Skaggs’ firm Livingston Machinery, with the help of private equity, acquired a second firm Ag Solutions Group. Using Scaling Up and the help of coach Stacy Eads, Shawn has integrated the combined firms, named Parallel Ag. With 13 locations selling new and used ag equipment, this new firm is serving as a “platform company” to do 25 more acquisitions. Please take 2 minutes to read the details on how Skaggs found his equity partners, integrated the acquisitions, and is pursuing additional acquisition targets. How do you become a platform firm and then grow through acquiring small firms in your niche? It’s one of the most important growth strategies this decade as the baby boom is exiting millions of companies.
Platforms vs. Operating Systems
Yes, operating systems are so last century. Platforms are what you want to create and use to scale in the 21st century. It’s why Learning Management Systems (LMS) are being replaced with Learning Experience Platforms (LXP). And it’s why we call our Scaling Up solution a “Performance Platform” (www.scalingup.com) on which you can bolt all kinds of additional tools/techniques vs. an old-school operating system that is rigid and represents a “one size fits all” approach. You need the flexibility or you’re leaving millions of dollars and time on the table!! No time for amateur hour.
Recruiting – Name Price First
One of the CEOs in my recent 2-day YPO program in Australia emailed how the “name price first” approach I taught worked beautifully in recruiting a key position. He noted (preferred not to be named) that expressing:
I don’t know what you’re paid, but this is what I have to offer, we are really excited and would love to have you on board…
…approach helped generate a “completely different conversation” vs. asking the person, first, what they were expecting to make. He goes on to note:
I was very worried about having to pay more for this particular role since these people are in high demand, but it went just like you said it would. We found a spot in the middle right on the top of our budget.
Great outcome. Very positive. We have come to a verbal agreement today and expecting a signature from the prospect tomorrow.
The Planner for Family Meetings that Work
Dr. Mark Goulston interviewed Alex Mont-Ros on his podcast, which BTW is in the top 0.5% globally and carried in 40 countries. Mark emailed me to share Alex’s “Family Meeting Planner”. It's a 52-week program in a binder where families sit down once a week and everyone shares their ups and downs, their goals, and steps they're taking to move it forward and more. He told me that his 8-year-old, three weeks earlier, asked to run the check-in for the family and one week earlier asked to run the meeting.
Coaching the Team vs. One-on-One
This HBR article details how team coaching vs. the typical one-on-one coaching is often more effective. It helps build better relationships within the team vs. just with the manager – and peers learn more from peers than their manager!! A key approach is “problem-based coaching” where a company/team challenge is treated like a case study and the team is asked to solve the case (like you would at Harvard, only your firm is the focus!). The case study method is powerful. Please take 2 minutes to read the article (and yes, I recommend two subscriptions – HBR and Fortune – my two favorite sources of biz learning).
Horror and Management
Australian Scaling Up coach Rob Nankervis sent me the following photo. You can make this stuff up! A local bookstore in Melbourne now has Horror and Management titles positioned right next to each other.
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SCALING UP WORKSHOPS:
Engage your team with interactive workshops to optimize your company’s performance.
(list of workshops below)
Madrid, Spain – Mar 2, 2023 (Virtual)
Boulder, CO – Mar 2, 2023 (In-Person)
Boulder, Colorado – March 7, 2023 (Virtual)
Minneapolis, MN – Mar 7, 2023 (In-Person)
Amsterdam, The Netherlands – Mar 7, 2023 (In-Person)
Melbourne, Australia - Mar 7, 2023 (In-Person)
Oxford, England – Mar 8, 2023 (In-Person)
Boulder, Colorado – March 14, 2023 (Virtual)
Melbourne, Australia - Mar 14, 2023 (In-Person)
Sydney, Australia - Mar 15, 2023 (In-Person)
Barcelona, Spain – Mar 16, 2023 (In-Person)
Melbourne/Sydney, Australia - Mar 16, 2023 (Virtual)
Toronto, Canada – Mar 16, 2023 (Virtual)
Hong Kong/Singapore – Mar 22, 2023 (Virtual)
Wilmington, NC – Mar 24, 2023 (In-Person)
Bengaluru/Hyderabad/India – Mar 29, 2023 (Virtual)
Scottsdale, Az – Apr 4, 2023 (In-Person)
Amsterdam, The Netherlands – Apr 6, 2023 (In-Person)
Toronto, Canada – Apr 13, 2023 (Virtual)
Grand Rapids, MI – Apr 20, 2023 (In-Person)
Nashville, TN – Apr 20, 2023 (Virtual)
Sydney, Australia – Apr 27, 2023 (In-Person)
Dallas, TX – May 3 & 4, 2023 (2 Day) (In-Person)
Brisbane, Australia – May 10, 2023 (In-Person)
Toronto, Canada - May 11, 2023 (Virtual)
Melbourne, Australia - Jun 6, 2023 (In-Person)
Nashville, TN – Jun 8, 2023 (Virtual)
Toronto, Canada – Jun 8, 2023 (Virtual)
Toronto, Canada – Jul 6, 2023 (Virtual)
Sydney, Australia – Jul 20, 2023 (In-Person)
Toronto, Canada – Aug 10, 2023 (Virtual)
Melbourne, Australia - Sep 5, 2023 (In-Person)
Grand Rapids, MI – Sep 12, 2023 (In-Person)
Toronto, Canada – Sep 14, 2023 (Virtual)
Brisbane, Australia – Oct 10, 2023 (In-Person)
Toronto, Canada - Oct 12, 2023 (Virtual)
Sydney, Australia – Nov 2, 2023 (In-Person)
Toronto, Canada - Nov 9, 2023 (Virtual)
Grand Rapids, MI – Nov 9, 2023 (In-Person)
Melbourne, Australia - Nov 14, 2023 (In-Person)
Toronto, Canada - Dec 7, 2023 (Virtual)
COACHING:
Does it feel as if your business has hit a wall? If you don't see a clear path forward, it's a good time to bring in a coach. All of our Scaling Up Certified Coaches™ are masters at guiding you and your leadership team through the implementation of the Scaling Up Performance. Our promise is a custom diagnostic approach from Day 1, including how we match you with a coach. We even have a team member dedicated to helping you find the perfect Scaling Up Certified Coach.™Schedule a complimentary, personal follow-up. Or check out our FAQs. Additional questions can be sent to [email protected]
TECHNOLOGY:
Scaling Up 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
Have you considered becoming a Certified Scaling Up Coach?
Learn more about what it takes to certify and what being a coach is like. Pop into our Coach Office Hours to talk with our coach certification coordinator and a certified Scaling Up Coach. Learn More & Register for Office Hours here >
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].
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.
Your Brand as Marketing Powerhouse with a Forbes Books Content Partnership
If you want to be “top of mind” with your audience, then you need a strategy to build your authority in your field. Investing in media services with your personal brand can help you grow your audience and distinguish you as a trusted authority because you are educating, not selling. Learn how your brand can work harder for your business with a free brand audit.
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