Buffett’s Top 10; Growth Paradox; Founder’s Mentality; CEO Boot CampFebruary 9, 2017
#1 Book; Facebook’s Purpose; Google’s Five Hiring Attributes; Moog Music; Feb 28 WebinarFebruary 23, 2017
"…insights for scaleups"
Salim Ismail in Mexico City March 2 — author of Exponential Organizations, Salim will present live. More info below, but first…
Productivity Benchmarks — Fortune's Most Admired Companies list is out and Apple is again #1. Overall, Fortune 500 companies account for $12.5 trillion in revenues, $945 billion in profits, $17 trillion in market value and employ 26.8 million people worldwide. That works out to $466,418 revenue/employee and $35,261 profit/employee. In turn, the average revenue/employee for mid-market firms ($10 million to $1 billion) is $126,000/employee. Pricing and bad processes are the main reasons scaleups are less than a third as efficient in generating revenue than large companies.
Trust Drives Productivity — not surprisingly, high-trust organizations outperform low-trust firms as reported in this HBR article. Specifically, people in high-trust companies report:
There are 8 management practices that specifically drive trust, including frequent communication. Notes the article, in support of the daily huddle:
One of the firms highlighted in the article is Barry-Wehmiller, whose CEO (and author of Everybody Matters) is keynoting our upcoming ScaleUp Summit May 23 – 24, San Antonio. Thanks for Steve Hall, founder of DriversSelect, for pointing me to this important article.
India's Biggest Robot Company Drives Productivity — with the explosion of online commerce, automating warehouses is big business – and one of the leaders is India-based GreyOrange. This BBC News item details how two students have built this 650 employee company. Notes co-founder Samay Kohli:
This is how you boost revenue/employee! Mr. Kohli goes on to note:
Managing for the Long Term Drives Performance — this McKinsey study which tracked 615 companies between 2001 and 2015 reports that firms which took a long term perspective grew revenues 47% faster and profit 36% faster vs. their peers.
Proven Completely Wrong About Productivity — note's this Fortune article, Eric Schmidt, Executive Chair of Google, admits he was wrong about the impact of artificial intelligence and now believes that "AI-first" is real. A Google Brain team's focus on recognizing cats in YouTube videos changed Schmidt's mind about the potential for AI to approach human intelligence. What are you doing to explore AI applications in your industry to drive productivity?
For my friends in Mexico! — The Scaling Up book continues to rank at the top of Amazon and is frequently purchased with Salim Ismail's Exponential Organizations. If you've had success with the Scaling Up methodology I recommend considering a related and unique opportunity with Salim. On March 2nd, our Growth Institute is hosting a summit in Mexico City featuring Salim and his revolutionary approach to business growth. Click here to learn more about the event. Seats are very limited so reserve your spot today.
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