The Agile Scaleup

Cartoon; PE Firm Focus; Elon’s 10; Grant’s Latest Hidden Potential

Private equity firms worldwide are sitting on about $2 trillion worth of “dry powder”— at a time when the number of attractive targets has declined.
                                 Ted Bililies, HBR article

…which levers are most important for creating value in their portfolio companies, PE executives cite leadership effectiveness more often than anything else.
                                 Ted Bililies, HBR article

Please invest 2 to 8 minutes to keep current and review fundamentals. Thank you!


                                 Courtesy of The New Yorker

PE Firms Need a Talent Development Strategy
This latest HBR article suggests PE firms need to focus more on the talent development side of their portfolio firms. With higher interest rates, longer holding periods, and more competition among PE firms, scaling valuation has gotten tougher focusing only on the financial side of the business. The human capital side is where the most significant gains can be made (70% vs. 30%)! Our Topgrading Master Course (talent selection) and completely branded “company university” offering, for a few thousand per month to support talent development, are priorities for 2024. Email me if we can demo or go to www.growthinstitute.com.

25-min HBR Podcast – Additional Insights
This 25-min HBR podcast interview of the article author might be more accessible. In short, actively supporting talent and leadership selection and development is key – the same for all firms!! Thank you to serial entrepreneur and investor Steve Hall for sharing this insightful article. The key is to PE yourself!!

Adam Grant’s New Book – Hidden Potential
Always insightful, it’s a great read this holiday season – and includes a 5-min Hidden Potential assessment. It’s an assessment of three key character skills that propel us to greater heights:

• being a sponge (proactively absorbing information to grow)
• a discomfort seeker (embracing opportunities to stretch beyond your strengths)
• an imperfectionist (accepting the right flaws).

Those three provide a nice summary of what it takes to reach your potential. Your own talent development is #1, aligning with what PE firms are finding is key to driving valuation.

Steve Jobs on A-Players
This one-minute IG reel features Steve Jobs highlighting how his obsession with finding five A-Players created the momentum needed to propel Apple. And why A-Players do not want to work with B- and C-players. Always a great reminder.

Serial Entrepreneur Ron Lovett's Latest Podcast
Looking for something additional to listen to, Ron Lovett’s (author of Scaling Culture and Outrageous Empowerment) latest podcast details why behaviors are more important than values in defining and sustaining company culture. Plus, how to adopt behaviors within a company using rituals.

Elon Musk’s 10 Laws
This Fortune article distills Musk’s unique approach to scaling ventures. Fortune takes a serious approach to the list – it’s not some biting or fluff piece. “Fund a big vision with a side venture that makes money” as his Starlink venture is doing to support his Mars venture, is similar to Jack Stack’s creation of “overhead absorbers.” Please take 3 minutes this weekend to scan thru the list – good and bad.



Scaling Up Virtual Master Class Dec 13 – 14 (6 hours total)
Review the fundamentals of Scaling Up and energize the team going into 2024. Four 90-minute sessions taught by author Verne Harnish – People, Strategy, Execution, and Cash. Jump-start execution of these key tools/techniques. Register here.

Order a box of 20 Scaling Up and Mastering the Rockefeller Habits books
Want to save 50% over the price on Amazon? Get the box of 20 Scaling Up books here and the box of 20 MRH books here for less!

SCALING UP WORKSHOPS:
Engage your team with interactive workshops to optimize your company’s performance.
(list of workshops below)

Perth, Australia – Nov 29. 2023 (In-Person)
Charleston, SC – Dec 6, 2023 (In-Person)
Dallas, TX – Dec 6, 2023 (In-Person)
Toronto, Canada - Dec 7, 2023 (Virtual)
Wilmington, NC – Dec 8, 2023 (In-Person)
Columbus, OH – Jan 19, 2024 (In-Person)
Sydney Australia – Feb 8, 2024 (Day 1, In-Person)
Sydney Australia – Feb 9, 2024 (Day 2, In-Person)
Sydney, Australia – Feb 28 & 29, 2024 (2 Days, In-Person)
Auckland, NZ – March 11, 2024 (In-Person)
Austin, TX – March 26, 2024 (In-Person)
Brisbane, Australia – May 1, 2024 (In-Person)
Portland, OR – May 8, 2024 (In-Person)
Christchurch, NZ – May 30, 2024 (In-Person)
San Diego, CA – June 25, 2024 (In-Person)
Denver, CO – Sep 17, 2024 (In-Person)
Fort Lauderdale, FL – Oct 15, 2024 (In-Person)
San Antonio, TX – Dec 10, 2024 (In-Person)

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 – Critical Whitepaper
Selling your firm, for its maximum value, is the most important negotiation in which a business owner will participate. You are typically negotiating with 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, stealing tens of millions from you. Seeking help, owners discover 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). Email me to get a whitepaper on how to maximize your valuation and avoid the psychological games buyers play [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

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]

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.

Did you miss previous insights? - read here

Follow Verne on Instagram: @scalingup2.0

Connect with Verne on LinkedIn: Verne Harnish

Follow Verne on Twitter: @agilescaleup

Read Verne's Insights on Kindle http://www.amazon.com/gp/product/B003SX13YI

Sign up for Verne's Weekly Insights  

*This email newsletter may contain affiliate links. As an Amazon Associate, I earn from qualifying purchases. If you choose to purchase after clicking a link, I may receive a commission at no extra cost to you.

4 Jobs of a CEO; Elon Safety; Talent Pool; MDW Help

I travel light. I think the most important thing is to be in a good mood and enjoy life, wherever you are.
                                 Diane Von Furstenberg, fashion designer by Chip Conley

I grew up knowing that you could do cool things if you cared a little more, if you fought a little harder.
                                 Christina Lampe-Onnerud, battery entrepreneur

Please invest 2 to 8 minutes scanning these insights – keeping you current!
 
Frances Frei -- Replay and Notes – Scaling Up+ Learning Event
Harvard’s famous strategist Frances Frei substituted for her co-author Anne Morriss!  If you missed our 99-minute “four top 2023 authors” learning event, register to watch the replay with your team along with nicely structured notes from the session.  The replay is nicely divided by presenter, so go right to whom you would like to watch and learn.  FYI, it’s important to get 2-hours of learning together each month or quarter. 

The Mom Project -- Excellent “Fishing Hole” for Talent
I mentioned in an earlier insight how Kawasaki revamped their factory schedule to employ stay-at-home moms wanting to work 9:30am – 2:30pm. This BBC item reports on The Mom Project (www.themomproject.com), a site where organizations can post jobs recruiting moms that want to work and a site for moms looking for work.

Unleash Explosive Revenue Growth -- Hunt Big Sales' Proven Sales Strategies (Sponsor)
HBS’s clients, primarily small and mid-sized businesses, achieved a remarkable 143% year-over-year revenue growth in Q3, driven by a strategic shift in sales messaging, enhanced buyer engagement, and the implementation of our proprietary Bigger Sales Faster™ process. HBS gets results, underscoring the transformative power of their effective sales strategies, enabling businesses to reach higher-level buyers and accelerate sales cycles. Schedule a complimentary consultation today and discover how Hunt Big Sales can transform your sales performance and achieve your revenue goals. Don't miss out on this opportunity to turbocharge your business growth. CLICK HERE to contact us today!

World’s Best Places to Work – Women, Millennials, Overall
Hilton took first place with Atlassian coming in at #16. Scan the full Fortune list of 25 “Best Places to Work in the World”. You’ll also notice lists for Best Places for Women (Hilton #1 again) and Millennials (Cisco #1). Think about having your children work for these firms – and they consistently outperform the S&P 500.

The Four Things a CEO Should Do – Atlassian’s Co-CEO
This 1-minute Instagram features Atlassian (#16 Best Places to Work) co-CEO Scott Farquhar sharing the four things a CEO should do – and how he measures his time spent against these four:

• Hire and Fire Senior Team
• Set the Vision
• Set the Culture
• Resource Allocation and Big Bets

Elon -- Safety Idiot?
Insight reader Brian Jardem shared this Nov. Reuters article detailing the 600 workplace safety issues SpaceX has experienced since 2014, including amputations, electrocutions, head and eye injuries, and one death. I hope Elon is taking this seriously and fixing this “idiot index.”

CEOs Gathering Market Intel – David Risher Lyft
The best way to know which big bets to place is to immerse yourself in the market. David Risher, the new CEO of Lyft, continues to drive, meeting and talking with passengers and other drivers.

Only Charity I Promote -- Helping Women Entrepreneurs with Scholarships
In the spirit of teaching to fish vs. giving fish, do you get value from these insights? In return, please consider a donation to MDW which urgently needs to raise $30k (I donated $10k) for scholarships. Leading up to Giving Tuesday (on 11/28)*, Million Dollar Women (MDW) has a nonprofit arm called the Million Dollar Women Fund (MDW Fund), created to #closethegap, which grants women of color entrepreneurs scholarships to access business coaching programs. In a shaky economy, this help has become crucial for many women still struggling to recover from pandemic setbacks. Thank you!



Scaling Up Virtual Master Class Dec 13 – 14 (6 hours total)
Review the fundamentals of Scaling Up and energize the team going into 2024. Four 90-minute sessions taught by author Verne Harnish – People, Strategy, Execution, and Cash. Jump-start execution of these key tools/techniques. Register here.

Order a box of 20 Scaling Up and Mastering the Rockefeller Habits books
Want to save 50% over the price on Amazon? Get the box of 20 Scaling Up books here and the box of 20 MRH books here for less!

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.

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 – Critical Whitepaper
Selling your firm, for its maximum value, is the most important negotiation in which a business owner will participate. You are typically negotiating with 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, stealing tens of millions from you. Seeking help, owners discover 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). Email me to get a whitepaper on how to maximize your valuation and avoid the psychological games buyers play [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.

SCALING UP WORKSHOPS:
Engage your team with interactive workshops to optimize your company’s performance.
(list of workshops below)

Brussels, Belgium – Nov 22, 2023 (Virtual)
Perth, Australia – Nov 29. 2023 (In-Person)
Charleston, SC – Dec 6, 2023 (In-Person)
Dallas, TX – Dec 6, 2023 (In-Person)
Toronto, Canada - Dec 7, 2023 (Virtual)
Wilmington, NC – Dec 8, 2023 (In-Person)
Columbus, OH – Jan 19, 2024 (In-Person)
Sydney Australia – Feb 8, 2024 (Day 1, In-Person)
Sydney Australia – Feb 9, 2024 (Day 2, In-Person)
Sydney, Australia – Feb 28 & 29, 2024 (2 Days, In-Person)
Auckland, NZ – March 11, 2024 (In-Person)
Austin, TX – March 26, 2024 (In-Person)
Brisbane, Australia – May 1, 2024 (In-Person)
Portland, OR – May 8, 2024 (In-Person)
Christchurch, NZ – May 30, 2024 (In-Person)
San Diego, CA – June 25, 2024 (In-Person)
Denver, CO – Sep 17, 2024 (In-Person)
Fort Lauderdale, FL – Oct 15, 2024 (In-Person)
San Antonio, TX – Dec 10, 2024 (In-Person)

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]

Did you miss previous insights? - read here

Follow Verne on Instagram: @scalingup2.0

Connect with Verne on LinkedIn: Verne Harnish

Follow Verne on Twitter: @agilescaleup

Read Verne's Insights on Kindle http://www.amazon.com/gp/product/B003SX13YI

Sign up for Verne's Weekly Insights  

*This email newsletter may contain affiliate links. As an Amazon Associate, I earn from qualifying purchases. If you choose to purchase after clicking a link, I may receive a commission at no extra cost to you.

Idiot Index; Fastest Growing; Gran Canary; Nov 14

Education is the ability to listen to almost anything without losing your temper or your self-confidence.
                                 Robert Frost​ per Tim Ferriss

Since they are plumbers, they can fix the leaks!
                                 Carlos Abisambra’s Super Mario Brothers Theme

Tim Henson – Playing God
Enjoy this guitarist Tim Ferriss recommended while reading the insights.

Gran Canary Islands, The Keys, Vail – CEO Boot Camps
Three new CEO Boot Camps announced for 2024. See below for dates and resorts.

Get Customers Calling You – Be the Authority Nov 14
Adam Witty, co-author of The Authority Advantage, is our final 22-minute keynoter of the four presenting at our virtual Scaling Up Learning event next Tuesday, Nov 14, 11:14am – 12:53pm ET. Positioning you and your firm as the authority in your industry is key to getting customers to call you instead of you having to cold call potential clients. Register for our free bi-annual virtual learning event and get a link to watch a recording if you miss it. 99-minutes, the equivalent of reading 4 books.

Manufacturing is Back – World’s 100 Fastest Growing Firms
Fortune’s latest list is notable for the number of manufacturing firms. I find it useful to scan thru to get a sense of market trends you could take advantage of! These firms outperformed the S&P 500 by a factor of almost 3 this past three years – 42% annualized return vs. 15%. Notes Fortune:

…if you look at this year’s list of Fortune’s 100 Fastest Growing Companies, you may think you’ve entered a time warp. Gone are the tech companies—Amazon and Facebook are off the list this year—as well as the many finance and healthcare companies that dominated past lists. What’s in their place? A variety of companies that make, mine, and sell physical stuff.

First and last on the list are homebuilders with Tesla coming in at #2. Crocs also made the list at #20! Again, take a moment to scan the list for trends.

Super Mario Brothers Theme – Powers Profit and Exit (Scaling Up Case)
Scaling to $100 million in 2022 with the help of Scaling Up Coach George Morris, Carlos Ambisambra’s Travelers Haven used a Super Mario Brothers quarterly theme to drive up margins which fueled a successful exit in Feb. ’23 to Blueground. Providing short-term housing to nurses and doctors, construction workers, sports teams, and other nomadic professionals, the company was “growing broke.” The key constraint was margin erosion. This ScaleUps.com article details how they fixed it.

Plumbers Fix Leaks (Mario Bros)
Small maintenance issues ($10 here, $50 there) were eroding already thin margins and sucking up 30% - 35% of their profit. First Carlos created a world-class culture, winning Best Place to Work awards for Denver and Colorado (are you applying for and winning these awards?) – the article describes how he did this. Then he focused the team using a Super Mario Brothers theme - since plumbers fix leaks! Using our meeting rhythm and rewards for achieving 1%, 1.5%, and 2% improvements in margin, it worked! Many on his leadership team thought, at first, this was a childish approach – but they’ve seen the results and drove a great exit (PE firms care most about gross margin improvement). Please read the details in the ScaleUps.com article and then: What is your theme for the balance of 2023 going into 2024? Focus on the key constraint to scaling valuation.

Idiot Index
Another label for constraints, Elon Musk had what he called the “idiot index.” Where are the outsized costs, time, or frustrations in the business? Focus there and find a potential 10x gain. Better yet, just eliminate the step, bolt, process, etc. Please read Elon’s biography by Walter Isaacson – I’m on page 508 and still learning!

Longevity – $106/month Beats $2 million
This Fortune article shares how a vegetable-rich diet, exercise, and meditation are helping a woman beat out a biotech entrepreneur who is spending $2 million/year on anti-aging. Her biggest health expenditures are a $27-a-month gym membership and a $79-a-month supplement subscription. If you’re into the latest longevity fads, scan this article and save some money and time – and your life!

The Amazing Health Transformation
Further to the point above, read Ritesh Bawri’s short book The Amazing Health Transformation (less than $6 on Kindle). Type 2 Diabetes, asthma, fatty liver, overweight, etc. – cured with a few simple lifestyle changes. I can attest to the same. One key – intermittent fasting – eat like we did for 200,000 years – you can’t change biology that quickly. And once I let my body experience hunger daily/weekly, my eyesight and all senses improved (I’m looking for food!). It works.

Love to Win or Hate to Lose – Kobe Bryant
This IG post, which many of you have likely seen, has challenged my view of whether it’s better to play to win vs. playing not to lose. Kobe Bryant’s view? It’s neither. I’ll let Kobe explain.

Gran Canary Islands, The Keys, Vail – CEO Boot Camps
Three new CEO Boot Camps announced for 2024. Invest in three intense and fun days/evenings working on your business with me (Verne Harnish) and an accomplished CEO as co-host. Join 7 other CEOs and their COOs/#2s.

• Jan 9 - 12, Gran Canary Islands, Spain – 4 seats
• Jan 30 – Feb 2, Marathon, FL – 2 seats (CEO-only)
• April 16 – 19, Vail, CO – 8 seats

For complete agenda, content, location info, testimonials, and fees.

Scaling Up Virtual Master Class Dec 13 – 14 (6 hours total)
Review the fundamentals of Scaling Up and energize the team going into 2024. Four 90-minute sessions taught by author Verne Harnish – People, Strategy, Execution, and Cash. Jump-start execution of these key tools/techniques. Register here.

Order a box of 20 Scaling Up and Mastering the Rockefeller Habits books
Want to save 50% over the price on Amazon? Get the box of 20 Scaling Up books here and the box of 20 MRH books here for less!

Planning to Exit – Critical Whitepaper
Selling your firm, for its maximum value, is the most important negotiation in which a business owner will participate. You are typically negotiating with 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, stealing tens of millions from you. Seeking help, owners discover 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). Email me to get a whitepaper on how to maximize your valuation and avoid the psychological games buyers play [email protected].

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 >

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.

EDUCATION: 
Growth Institute Online Executive Education:
Master of Business Dynamics
Scaling Up Master Business Course
Exponential Organizations Master Business Course
Topgrading Master Business Course

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.

SCALING UP WORKSHOPS:
Engage your team with interactive workshops to optimize your company’s performance.
(list of workshops below)

Melbourne, Australia - Nov 14, 2023 (In-Person)
Bengaluru / Hyderabad, India – Nov 15, 2023 (Virtual)
Auckland, NZ – Nov 16, 2023 (In-Person)
London, UK – Nov 16, 2023 (In-Person)
Brussels, Belgium – Nov 22, 2023 (Virtual)
Perth, Australia – Nov 29. 2023 (In-Person)
Dallas, TX – Dec 6, 2023 (In-Person)
Toronto, Canada - Dec 7, 2023 (Virtual)
Wilmington, NC – Dec 8, 2023 (In-Person)
Columbus, OH – Jan 19, 2024 (In-Person)
Sydney, Australia – Feb 28 & 29, 2024 (2 Days, In-Person)
Auckland, NZ – March 11, 2024 (In-Person)
Austin, TX – March 26, 2024 (In-Person)
Brisbane, Australia – May 1, 2024 (In-Person)
Portland, OR – May 8, 2024 (In-Person)
Christchurch, NZ – May 30, 2024 (In-Person)
San Diego, CA – June 25, 2024 (In-Person)
Denver, CO – Sep 17, 2024 (In-Person)
Fort Lauderdale, FL – Oct 15, 2024 (In-Person)
San Antonio, TX – Dec 10, 2024 (In-Person)

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]

Did you miss previous insights? - read here

Follow Verne on Instagram: @scalingup2.0

Connect with Verne on LinkedIn: Verne Harnish

Follow Verne on Twitter: @agilescaleup

Read Verne's Insights on Kindle http://www.amazon.com/gp/product/B003SX13YI

Sign up for Verne's Weekly Insights  

*This email newsletter may contain affiliate links. As an Amazon Associate, I earn from qualifying purchases. If you choose to purchase after clicking a link, I may receive a commission at no extra cost to you.

Sock Puppets; Bond Rate Predictor; Hotshot Rule; Nov 14 Free Learning Summit

The single most important decision in evaluating a business is pricing power.
                                 Warren Buffett

I have the knowledge of my situation, but the freedom and the power of their view.
                                 Kat Cole’s Hotshot Rule (see below)

The #1 Driver of Valuation – Pricing Power
In addition to the quote above, Warren Buffett went on to note:

If you've got the power to raise prices without losing business to a competitor, you've got a very good business.

With inflation expected to slow temporarily and then remain high (5-6%) through 2030 according to economist Alan Beaulieu who shared the stage with me at the Chief Executive magazine Leadership Conference, having pricing power is a critical component of your business model for the next five years. Do you have pricing power?

Pricing Power – Hermann Simon
Also sharing the stage with me was Dr. Hermann Simon, the pricing guru and author of Beating Inflation (you’ve read it, I hope). The #1 key to having pricing power is to out-innovate your competition, creating a product or service that is the best for a particular niche. Are you the best at something badly needed by a niche group of customers/consumers? And he reminded us that you must clearly communicate how you’re best – which is why having a recognized brand in the niche is important. Reach out to me if one of our coaching partners can help you nail down what’s required to have pricing power – it’s critical!!

Voice of Customer is Key – Nov 14 Complimentary Learning Summit
Dr. Simon and others emphasized, as did I, that your innovations MUST align with what the customer wants. The “hidden champion” firms spend over twice as much time with clients than average firms – and they have more of their teams closer to and in direct contact with customers. To learn how to do this, Mark Roberts, voice of customer guru and author of a new book Driving Explosive Growth is one of our four 22-minute presenters/authors Nov 14, 11:14am – 12:53pm ET. Register you and your team to participate and/or get a recording.

Favorite ITR Economics Slide
Many of you have heard ITR Economics’ Alan Beaulieu or his brother speak – they are big on the Vistage, EO, YPO, and trade show circuits. My favorite slide of his presentation yesterday was this one showing what really determines bond yields – the height of the Federal Reserve Chair!! Of course, we should have predicted they would rise given current chair Jerome Powell’s height!

Current Interest Rates Are Good
We were reminded that today’s interest rates are historically normal – and these higher rates separate the great business leaders from the average. Welcome them!!

Athletic Greens’ Kat Cole – Hotshot Rule
Kat Cole, Athletic Greens’ President and regular speaker for Scaling Up, shared her “hotshot rule” with Fortune. Notes the article:

She imagines someone she admires in her shoes. It could be anyone—an athlete, a colleague, a family member. She thinks of the one thing they would do differently in her position.

It’s been such an effective exercise that she now does it weekly. Fortune goes on to note:

The person’s hypothetical action plan “comes to mind immediately,” Cole says. And Cole “take[s] action on it within 24 hours.” “I send the email, I book the flight, I make the call,” she says. Over 15 years, the “compounding effect” has been enormous. “Every week I put in motion one thing I would not otherwise have.” 

My Sock Puppet
I experienced something similar at our coaching summit last week. Maverick 1000 founder Yanik Silver had us think of the person we most admired and then make a sock puppet that looked like them (yes, he passed out clean white socks!). Mine was Steve Jobs, no surprise! Then we were to pose a serious question we’re wrestling with and ask our sock puppet what they would do – and wow, the answers that came to me were hugely insightful!

Napoleon Hill’s Imaginary Council
This AOM article details how Think and Grow Rich author Napoleon Hill did something similar using an imaginary council of 9 people -- Emerson, Paine, Edison, Darwin, Lincoln, Burbank, Napoleon, Ford, and Carnegie. It’s a powerful exercise! Who might you turn to for advice for a particular challenge or opportunity you’re facing? Try it!!

Scaling Up Virtual Master Class Dec 13 – 14 (6 hours total)
Review the fundamentals of Scaling Up and energize the team going into 2024. Four 90-minute sessions taught by author Verne Harnish – People, Strategy, Execution, and Cash. Jump-start execution of these key tools/techniques. Register here.

Order a box of 20 Scaling Up and Mastering the Rockefeller Habits books
Want to save 50% over the price on Amazon? Get the box of 20 Scaling Up books here and the box of 20 MRH books here for less!

SCALING UP WORKSHOPS:
Engage your team with interactive workshops to optimize your company’s performance.
(list of workshops below)

Hong Kong / Beijing / Singapore – Nov 8, 2023 (Virtual)
Nashville, TN – Nov 9, 2023 (Virtual)
Wellington, NZ – Nov 9, 2023 (In-Person)
Toronto, Canada - Nov 9, 2023 (Virtual)
Grand Rapids, MI – Nov 9, 2023 (In-Person)
Melbourne, Australia - Nov 14, 2023 (In-Person)
Bengaluru / Hyderabad, India – Nov 15, 2023 (Virtual)
Auckland, NZ – Nov 16, 2023 (In-Person)
London, UK – Nov 16, 2023 (In-Person)
Brussels, Belgium – Nov 22, 2023 (Virtual)
Perth, Australia – Nov 29. 2023 (In-Person)
Dallas, TX – Dec 6, 2023 (In-Person)
Toronto, Canada - Dec 7, 2023 (Virtual)
Wilmington, NC – Dec 8, 2023 (In-Person)
Columbus, OH – Jan 19, 2024 (In-Person)
Sydney, Australia – Feb 28 & 29, 2024 (2 Days, In-Person)
Auckland, NZ – March 11, 2024 (In-Person)
Brisbane, Australia – May 1, 2024 (In-Person)
Christchurch, NZ – May 30, 2024 (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.

EDUCATION: 
Growth Institute Online Executive Education:
Master of Business Dynamics
Scaling Up Master Business Course
Exponential Organizations Master Business Course
Topgrading Master Business Course

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.

Planning to Exit – Critical Whitepaper
Selling your firm, for its maximum value, is the most important negotiation in which a business owner will participate. You are typically negotiating with 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, stealing tens of millions from you. Seeking help, owners discover 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). Email me to get a whitepaper on how to maximize your valuation and avoid the psychological games buyers play [email protected].

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]

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 >

Did you miss previous insights? - read here

Follow Verne on Instagram: @scalingup2.0

Connect with Verne on LinkedIn: Verne Harnish

Follow Verne on Twitter: @agilescaleup

Read Verne's Insights on Kindle http://www.amazon.com/gp/product/B003SX13YI

Sign up for Verne's Weekly Insights  

*This email newsletter may contain affiliate links. As an Amazon Associate, I earn from qualifying purchases. If you choose to purchase after clicking a link, I may receive a commission at no extra cost to you.