Buffett’s 13; Salim’s 11; Go Long; Duane’s Big Payday
May 10, 2018
Cool Drink; New Records Set; InfoTrust; ExO June 5
May 25, 2018

Bezos’s Grandfather Quote; Where to Get Talent; MTP; Rockefeller Update

"…insights for scaleups"

HEADLINES:

You're going to figure out one day that it's harder to be kind than clever.
  Jeff Bezos's grandfather

ScaleUp Workshops in June 5th Mexico City, 5th Los Angeles, 7th Melbourne, 14th Phoenix. For more info.

Conscious Capitalism Conference Barcelona July 9 here's a link to the outstanding program in a beautiful city. Early bird of 250€ available until the 25th of May. And I'm looking forward to keynoting their CEO Summit in the fall – hope to see you there. It's this approach to business that makes your company a magnet for talent.

People Challenges with unemployment effectively at zero, my survey of mid-market firms puts "People" at the top of the list. Two options: get much more productive using process improvement approaches, focusing on getting gross margin dollars per employee way up. Most mid-market firms could double revenue without adding any headcount if processes were cleaned up. Check out Paul Akers' 2-second Lean videos on YouTube.

Over 60 Workforce the other option is finding more unique ways to tap into talent. At London Business School, where I lectured a couple weeks ago, adjunct professor Tammy Erickson suggested that tapping into the over 60 age group is a hugely viable option. It's not just the millennials that are joining the gig economy – and this older age group is very loyal and packed with wisdom if you can give them project work that lets them keep a flexible lifestyle.

Millennials in the Gig Economy this Deloitte white paper notes that a "recent 2017 study reports that overall self-employment is likely to triple to 42 million workers by 2020, with millennials leading the way." It goes on to highlight 6 trends:

  1. The proportion of women in the millennial alternative workforce is shrinking, possibly because more millennial women than men are going back to school.
  2. The proportion of household income millennials receive from alternative work is increasing.
  3. Most alternative millennial workers make less than their traditional full-time employed counterparts.
  4. Millennial alternative workers are often supported by someone else in their household.
  5. Alternative millennial workers are more likely to find jobs in the arts, maintenance, and administrative professions.
  6. Alternative millennial workers appear to be more likely to break the rules, have emotional agility, and work hard.

The whitepaper goes on to provide details for each of these trends and how you might tap into them to capture this talent for your firm. And check out Figure 7 in the whitepaper – it shows the occupations most likely benefitting from this workforce – worth clicking on the link and scrolling down. It's a lengthy report, but worth reading if talent is your main constraint.

Rockefeller Update the Rockefellers continue to set records. Notes this Fortune article:

The treasures of Peggy and David Rockefeller set an auction record for the most valuable private collection when they went under the hammer last week. The total of the 1,500 objects and artwork sold at Christie's after a ten day online sale and three day auction reached $832.6 million.

Massive Transformative Purpose (MTP) Last week I shared the 11 attributes of companies growing exponentially. This week, Salim Ismail goes deeper with the first foundational element: MTPs. A Massive Transformative Purpose is more than a tagline. A strong MTP forces your mind to break all the old models about how to achieve a task. An MTP does not change often, but it inspires change and innovation within your team. Because of this, it pushes you to think outside your own constraints and create a new model to support exponential growth. The best thing of all is that Salim and his team have developed a simple and very human process to build your MTP. Click here to get the 3-step process for building your own MTP.

Jeff Bezos Interview the quote above came from this extensive 48-minute Business Insider interview. And there's a transcript you can scan. Grab your favorite beverage and enjoy this weekend. Thanks to Steve Hall, DriversSelect.com for sharing.

See You in New Orleans I'm heading to our spring ScaleUp Summit. Fall is Oct 16 – 17, Denver.

Need More Copies of Scaling Up (Rockefeller Habits 2.0)? Amazon continues to premium price the hardcover book. If you need a box of 20, the books are less than $10/each.

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? Contact us at [email protected] for more information or visit https://scalingup.com/coaches.html.

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.alignwithgazelles.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.

Verne Harnish
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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