"…insights for scaleups"
|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:
How Do You Compare? – Notes Fortune:
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:
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:
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]
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