Beer Supporter?; Powerful Influencers; Need Free Advisor?; Global 500 Stats

Published by Verne Harnish at July 20, 2017

"…insights for scaleups"

HEADLINES:

*When you have an influencer that has 30 million followers, 20 million, five million-that's more powerful than any of the other traditional media outlets out there.*
	Mike Heller, CEO Talent Resources

Fortune's Global 500 — the list was released today. With $485 billion in revenue Walmart still tops the list for the 4th year in a row. Notes Fortune's Alan Murray:

But that doesn't mean the giant retailer can sit on its laurels. Amazon is on an epic tear up the list, moving to 22nd this year from 44th the year before and 340th at the start of the decade. Then there's Alibaba, which broke onto the list for the first time this year, at No. 462. Alibaba already claims that it sells more products than Walmart. But because it doesn't take those products into inventory, the sales aren't fully counted as revenue, leaving the Chinese competitor with reported revenues that are roughly one twentieth of Walmart's.

How Do You Compare? – Notes Fortune:

The world's 500 largest companies generated $27.7 trillion in revenues and $1.5 trillion in profits in 2016. Together, this year's Fortune Global 500 companies employ 67 million people worldwide and are represented by 34 countries.

Doing the math, the Global 500 averaged 5.4% profit and a whopping $413,000 revenue/employee in 2016. How do you compare? Pick a few firms off the list that are in your industry space. You should be 3 – 5x their profitability, but lucky if you're a third their revenue/employee. The key is making progress on both these key metrics. Here's a link to the full list that also allows you to sort by profit, industry, etc.

Influencer Marketing — even big firms are recognizing the importance of teaming with bloggers, YouTubers, even celebrity pets! This Fortune article notes:

Influencer marketing capitalizes on social media's reach, by paying Internet celebrities of varied levels of fame-including pets-to tout products in their social media accounts to their followers. It's gaining popularity among brands who would rather not shell out for the relatively inefficient and hard-to-measure traditional advertising tactics. Even Internet behemoth Amazon is looking to recruit influencers with its recently launched "social influencer" program.

Please take 2 minutes to read this insightful article and then watch the short interview with Mike Heller, CEO of Talent Resources (dumb name), one of the leading firms in helping companies connect with influencers. Then identify the top 5 and 25 influencers (or become one yourself) and begin to connect with them. It's a highly measurable approach to effective marketing in any industry.

Why This Tech CEO Hires Humanity Majors — this Fast Company article highlights why Michael Litt, cofounder and CEO of the video marketing platform Vidyard, is looking to the arts and humanities to power his business. Explains Litt, "People will never embrace your product if you don't understand their motivations and needs -what excites them or annoys them to tears." To help him gain these insights and make up for gaps in his formal education as an engineer, Litt notes:

I've started reading psychology and philosophy books with an eye toward better understanding human behavior, which is key for any successful entrepreneur (or person, for that matter).

Scaling a company ultimately requires, to quote Litt "…instinct, critical thinking, and a deeply contextual understanding of human nature." As such, Litt is hiring more fine arts majors who have gained tech skills to help him build products that people really want. Please take 2 minutes to scan down through the article for details.

Looking for a Free Advisor? — are you $50 million to $500 million in revenue and looking for advisors? A dear friend, early client, and entrepreneur who scaled a B2B business and sold to one of the Global 500 firms today is one of the top leaders of a $40 billion organization. On the side, he would like to find one company, preferable in the Mid-Atlantic region, that is looking for an advisor for a few years, especially in the area of customer service/strategy. No charge – just a willingness to engage, learn, and execute. He plans to retire in a few years and wants to exercise his entrepreneurial muscles advising a firm that wants to grow aggressively.

Want to Support Beer? — Jim Koch, founder of Boston Beer (Samuel Adams brand of beers), has been supporting/advising entrepreneurs wanting to get into the craft brewing business. To raise funds for Brewing the American Dream a unique 12 pack from 5 different brewers, who have benefited from coaching by the Sam Adams team, has been assembled and is for sale. All profits go to support loans to food and beverage entrepreneurs in the US (food is the next internet, as Kimbal Musk has stated).

The Brewing the American Dream collaboration 12-pack is now available nationwide with limited availability for an SRP of $16.99-19.99. For more information and specifics on the brews included, visit www.brewingtheamericandream.com/collabpack.

EXITING: Thinking about selling the business for $40 million or more? Want to get 25% to 200% more than you thought? Request the whitepaper from the Exit Strategies Summit at Harvard from Denise Richmond at (610) 299-6466 or email at [email protected]

TECHNOLOGY:

Create Accountability – Drive Execution
Click Here to Watch a video example.

Align is your cloud based business operating system designed to keep you on your path to executing your goals. See, in real time every person in your organization and how they are progressing on their priorities – alongside how they Align to the Company Priorities! Scale Up your Rockefeller Habits implementation with www.aligntoday.com – on your computer, tablet or phone. $5.00 per month gets you started.

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.

COACHING:

Have you ever wondered if working with a coach might accelerate your company's growth, exponentially? Do you have what it takes to move the dial from good to great? Click here to watch Gazelles International President Keith Cupp describes the four most important attributes of successful clients. Contact us at [email protected] for more information.

And if you're interested in becoming a world-class certified Gazelles International coach, please go to gicoaches.com/becomeacoach for more information. If you determine that we're a fit and wish to join our premier organization, we invite you to contact our Dir. of Coach Engagement at [email protected] or 877.217.2253 ext.700.

Verne Harnish

Verne Harnish is founder of the world-renowned Entrepreneurs’ Organization (EO) and chaired for fifteen years EO’s premiere CEO program, the “Birthing of Giants” and WEO’s “Advanced Business” executive program both held at MIT. Founder and CEO of Gazelles, a global executive education and coaching company with over 150 coaching partners on six continents, Verne has spent the past three decades helping companies scale-up. The “Growth Guy” syndicated columnist, he’s also the Venture columnist for FORTUNE magazine. He’s the author of Scaling Up (Rockefeller Habits 2.0); Mastering the Rockefeller Habits; and along with the editors of Fortune, authored The Greatest Business Decisions of All Times," for which Jim Collins wrote the foreword. Verne also chairs FORTUNE Magazine’s annual Leadership and Growth Summits and serves on several boards including chairman of The Riordan Clinic and the newly launched Geoversity. He is an investor in many scale-ups. A father of four, he enjoys piano, tennis, and magic as a card-carrying member of the International Brotherhood of Magicians.

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