Managers are twice as likely to suffer a heart attack in the week after they fire someone.
Fortune
What will a workplace adapted to the opportunities and challenges of the new world of work look like?
Unworking: The Reinvention of the Modern Office
Mass Layoffs Come with Large Hidden Costs
This Fortune article details how layoffs can end up being drastically more costly – lost productivity, replacement costs later, low morale, health issues with the survivors, etc. The article features Lincoln Electric (their stock is at an all-time high) which hasn’t laid off employees in nearly 75 years, one of the companies we highlight in Scaling Up Compensation. Thank you to Scaling Up Coach Ethan Martin for pointing me to this piece.
Unique Owner Financing of Acquisitions (Scaling Up Case Study)
Scaling Up fan Austin Clark scaled Moxie Pest Control through five acquisitions, tripling revenue. This ScaleUps.com article details how he chose and integrated these acquisitions. Key was complete owner financing with the article sharing the simple structure they used to payback the owner and the benefits to the owner. Scaling through acquisitions is key as many business owners coming out of the pandemic are anxious to exit. It doesn’t take “millions lying around” as Clark exclaimed.
Unworking: The Reinvention of the Modern Office
Borrowing straight from GetAbstracts summary, this book might be useful to many of you as you figure out how to bring people back to the office:
While the offices of large corporations may look serene on the surface, underneath they are struggling to adapt. Workers are fed up with rigid, hostile workplace structures. What will a workplace adapted to the opportunities and challenges of the new world of work look like? Jeremy Myerson and Philip Ross analyze the shifting role of the office since the early 20th century, and speculate on its ongoing evolution. This part-historical, part-exploratory study will appeal to anyone preparing for the future of the workplace, either as a user or provider of the office as a service.
NOTE: YPOers receive GetAbstracts for free. For the rest, it’s a nominal cost and they provide the best 3 – 5-page summaries of books!
First Time Implementing – Culture Change Concern (Scaling Up Case Study)
Coral de Camps, CEO of Cacaoteca, a bean-to-bar chocolate manufacturer in the Dominican Republic she founded 8 years ago, emailed me:
I read Scaling Up with much joy…we have reached a new point this year: for the first time we are ready to work with budgets, sales predictions and data driven production calendars. I am really excited about it. However, I am at a loss on how to implement this culture change - mainly because I have never done anything like it! Do you have any suggestions? advice?
One Process at a Time – With a Whiteboard Update
My response:
Implementing the Rockefeller Habits -- where you’re using KPIs and Priorities (setting sprints) that align with your budget, sales, production goals -- causes the culture change. Start with one thing – like the Jim Tobin example in the book. His 28 employees weren’t using their new project management software indicated by all the late and unassigned tasks flagged by the system. He set the monthly goal to get both late and unassigned tasks to zero and the team did. Key was updating a whiteboard in the breakroom each day with the latest numbers.
Results – Zero Missed Deliveries!
Coral’s results:
Thank you for answering my email! I had been waiting to answer back because I wanted to run the experiment of the simple step of starting with one thing. I chose my logistics department. They have been consistently lagging the rest in performance (the constraint). So, I changed management and gave them the goal of sticking to a pre-established calendar and reporting every day on the orders they have marked as closed in the system. The result – they now have zero missed deliveries. It has been wonderful. We have had immediate improvements. And most of all, a team who is now convinced they can do the work. The challenge now is for everyone to keep it up with them!!
Coral continues: “I am now reading Scaling Up Compensation. It has already changed my perspective and I am only starting!”
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].
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.
Become an Authority and Reduce Your Marketing Investment
Top leaders know that branding is not a luxury, it’s a necessity. Becoming an authority means you and your brand are synonymous with trust and confidence. Growing brand equity translates to greater pricing power and the ability to reduce marketing costs. If you’re interested in proven strategies to help outflank your competition and grow your audience, request a free copy of Authority Marketing.
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.
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 >
SCALING UP WORKSHOPS:
Engage your team with interactive workshops to optimize your company’s performance.
(list of workshops below)
Costa Mesa, CA – Feb. 16, 2023 (In-Person)
Toronto, Canada – Feb 16, 2023 (Virtual)
Nashville, TN – Feb 16, 2023 (Virtual)
Barcelona, Spain – Feb 21, 2023 (Virtual)
Washington, DC – Feb 22, 2023 (In-Person)
Boulder, CO – Mar 2, 2023 (In-Person)
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)
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)
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)
EDUCATION:
Growth Institute Online Executive Education:
Master of Business Dynamics
Scaling Up Master Business Course
Exponential Organizations Master Business Course
Topgrading Master Business Course
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