We wouldn’t rent the same bad movie 250 times, but we do that in our own mind.
                     Jan Chozen Bays, quoted in LIT

…the relational diversity of their social portfolio is a unique predictor of well-being.
                     Hanne Collins, quoted in LIT

LIT: Life Ignition Tools
Dr. Jeff Karp’s much anticipated book released this week. A Harvard and MIT biomedical engineering professor, his lab technologies have led to the formation of twelve companies including a glue that seals holes in hearts and “smart needles.” If you want to light up your life – get LIT – grab a copy of his book and just read the chapter titles. Pick one that sings to you and enjoy. We’ll be hosting Jeff on our next virtual learning event 10 October. Thx, Jeff, for a well-researched and thoughtful book – and your support of Geoversity in Panama.

CEOs – No More One-on-Ones – Like a Mafia Don
This week I’ve spent time with two YPO chapters/forums. For some reason, along the way, CEOs were convinced they needed to do one-on-ones with their senior team members. Wasting valuable hours of everyone’s time, one YPOer landed on an analogy for one-on-ones that made everyone both laugh and cringe. He noted that he felt like a mafia don in these meetings – with each team member bringing him problems he was expected to resolve. “No problem, I’ll take care of it!”

Replace with Daily Huddle – Peer Pressure and Support
Senior team members should be surfacing issues daily and getting assistance from their peers. And if they need coached, hire a professional. Coaching is NOT one of the top four jobs of a CEO. 30 minutes of effective daily huddles each week (8 minutes per day for 4 days) is much more effective than hours of one-on-ones. It doesn’t mean the CEO won’t get pulled into quick conversations throughout the week, but most issues require cross-functional response and support. The daily huddle is key. Let us help.

5^th Generation CEO of J.M. Smucker
This insightful Fortune article, on running a 5^th generation family business, details the three guidelines for family members who want to join the business:

• Work outside the company
• Go overseas
• Get a graduate degree (only one that surprised me – see next article)

“J.M. Smucker is a meritocracy,” says CEO Mark Smucker, a descendent of founder Jerome Monroe Smucker, who had to earn his “seat at the table.” If you run a family business, take 2-minutes to scan the article.

GenZ Going to Trade Schools – Six Figure Incomes
Students were “sold a lie,” notes this Fortune article.  

Parents and kids alike are starting to get the message that trade school is an amazing opportunity with just a fraction of the debt—if any at all—and a clear path to something that looks a lot like prosperity.

Finally, the big lie of the US education system is being exposed.

Fred Ayala Scales Teachers College in Philippines (Scaling Up Case Study)
Scaling from 12,000 to 19,000 students in six years, Ayala Education Group is using Scaling Up to drive phenomenal and impactful growth. With the help of coach Jeremy Han, Fred Ayala and his team have identified key constraints and solved them quickly via the daily/weekly meetings as detailed in this ScaleUps.com article. The key is a focus on the quality of the education and revolutionizing old approaches. Notes Pam Wu, EVP of the school:

To that end, we’ve added improved technology, introduced more self-paced learning, and shifted to more active projects where students learn by doing, such as creating business plans. “One of the things we’ve started to focus on is really developing skills, rather than memorizing,” says Wu.

4 Female CEOs Share the 1 Decision That Propelled Their Career
Also, in Fortune this week, the women CEOs of Walmart International, Trip.com, Hong Kong Exchanges and Clearances, and Yum China each share the one key decision they made to propel their career. And their answers are quite comprehensive, which is why I’m not listing them. It’s worth one-minute to read the four paragraph-long answers.

Bigger Quote of the Week – CEO Hilton
Hilton, named the #`1 Best Place to Work in the US last week, is a surprise given the challenges of attracting and retaining talent in the hospitality industry. The key is trust and purpose (not just words, but actions). Notes Chris Nassetta, Hilton CEO: 

We’re in a service industry, and our job is delivering exceptional experiences to our customers all the time…If I want to do that, and I want to do it better than our competitors and deliver that alpha. My team has to be inspired. They have to feel part of something bigger than them. They have to understand what the purpose is and understand how they fit into it and trust it. They have to feel good about it. And when they do feel good about it, they feel empowered. They give more effort, which translates into alpha and delivering better experiences for customers.”

Lots of wisdom in that quote – please take it to heart. And as someone who travels a lot, Marriott could learn a lesson or two from Hilton. It seems without a Marriott heir in the CEO seat, their service has lost its soul.

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Schedule a complimentary follow-up or check out our FAQs. Additional questions can be sent to coaching@scalingup.com.

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SCALING UP WORKSHOPS:
Engage your team with interactive Scaling Up workshops. Here's our list of workshops

San Francisco, CA – Apr 18, 2024 (Virtual)
Brisbane, Australia – May 1, 2024 (In-Person)
Dallas, TX – May 8, 2024 (In-Person)
Portland, OR – May 8, 2024 (In-Person)
Sydney, Australia – May 9, 2024 (In-Person)
Ontario, Canada - May 16, 2024 (Virtual)
Columbus, Ohio – May 17, 2024 (In-Person)
Hong Kong / Singapore – May 22, 2024 (Virtual)
San Francisco, CA – May 29, 2024 (Virtual)
Bengaluru / Hyderabad / Dhaka – May 29, 2024 (Virtual)
Christchurch, NZ – May 30, 2024 (In-Person)
Adelaide, Australia – Jun 12, 2024 (In-Person)
Ontario, Canada - Jun 13, 2024 (Virtual)
San Francisco, CA – Jun 19, 2024 (Virtual)
San Diego, CA – Jun 25, 2024 (In-Person)
Washington, D.C. – Jun 27, 2024 (In-Person)
Ontario, Canada - Jul 11, 2024 (Virtual)
Hong Kong – Jul 14, 2024 (Virtual)
Bengaluru / Hyderabad / Dhaka – Jul 31, 2024 (Virtual)
San Francisco, CA – Jul 31, 2024 (Virtual)
Sydney, Australia – Aug 7, 2024 (In-Person)
Ontario, Canada - Aug 15, 2024 (Virtual)
San Francisco, CA – Aug 28, 2024 (Virtual)
Sydney, Australia – Aug 29, 2024 (In-Person)
Ontario, Canada - Sep 12, 2024 (Virtual)
Denver, CO – Sep 17, 2028 (In-Person)
Columbus, Ohio – Sep 20, 2024 (In-Person)
San Francisco, CA – Sep 24, 2024 (Virtual)
Brisbane, Australia – Oct 2, 2024 (In-Person)
Ontario, Canada - Oct 10, 2024 (Virtual)
Fort Lauderdale, FL – Oct 15, 2024 (In-Person)
San Francisco, CA – Oct 16, 2024 (Virtual)
Sydney, Australia – Nov 14, 2024 (In-Person)
Ontario, Canada - Nov 14, 2024 (Virtual)
San Francisco, CA – Nov 19, 2024 (Virtual)
San Antonio, TX – Dec 10, 2024 (In-Person)
Ontario, Canada - Dec 12, 2024 (Virtual)
San Francisco, CA – Dec 18, 2024 (Virtual)

TECHNOLOGY:
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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 verne@scalingup.com.

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