Hello ScaleUps,
Hope itâs been a productive and purposeful week. Here are some insights/opportunities to help you outlearn/outthink the competition.
CEO Boot Camp Open Seat --
One of the CEOs signed up for the June 4 â 7 Boot Camp needs to postpone if anyone would like to take his seat. Aug 20 â 23 (Estes Park, CO), is the next CEO Boot Camp (4 of 7 seats open).
Fortune 500 2019 --
Released yesterday, Walmart, Exxon Mobile, Apple, Berkshire Hathaway, and Amazon made the top 5 of the Fortune 500 list. Average revenue/employee of the 500 is $477,351, roughly 4x mid-sized firms; and profit/employee averaged $38,327. The average profitability was 8.0%, up from 6% last year. And once again, Appleâs profit/employee of $450,992 was almost equal to the other 499âs revenue/employee! Amazing!! Find a firm on the list, in your related industry, and see how you compare (Laureate Education is one I track).
CEO Sentiment Good Sign for Economy --
People are not logical, they are psychological (which is why we get pricing and compensation so wrong â but thatâs for a later post). Thatâs why itâs important to pay attention to what the Fortune 500 CEOs are thinking. Alan Murray of Fortune reported yesterday:
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Why 4x Rev/Emp over Mid-Market Firms? --
It seems crazy that these âelephantsâ would be almost 4x more efficient in generating revenue per employee vs. the âgazelles.â Why? People, Pricing, and Process. First, they are able to attract top talent and have corporate universities to train them (smart talent vs. cheap labor). Second, they have brand (strategy!) which gives them pricing power. And third, they focus on keeping their processes lean. When fully implemented, Scaling Up (Rockefeller Habits 2.0) does the same for mid-market firms. Itâs why tracking Rev, and more importantly, Gross Margin Dollars/Employee, is critical. Is this KPI heading in the right direction?
Top 10% Generate Almost 50% --
And fun fact, the top 50 Fortune 500 firms generated almost 50% of the total revenues. And the combined revenues of the entire list, $13.7 trillion, represents 2/3rds of the US GDP. I hope many of these firms, and their employees, are your customers â they have all the money.
Uberâs Original Pitch Deck --
Check out Slide 20 in Uberâs 2008 original pitch deck. It outlines what they thought were three scenarios (BHAGs):
Best-Case â Market Leader with $1 billion annual revenue |
CEO-BOOTCAMP: spend 3.5 days with Verne, serial entrepreneur John Ratliff, and 6 other CEOs in a beautiful retreat setting, addressing the constraints holding back you, your business, and your industry. Jun 4 - 7 (Sold Out); Aug 20 - 23, 2019; Jan 14 - 17; Jan 21 - 24, 2020.
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 drichmond@stscapital.com
WRITE AND PUBLISH A BOOK to Grow Your Business and be THE Authority in your space. My publisher and friend Adam Witty at ForbesBooks has streamlined the process. forbesbooks.com/scalingup for more information and to take their Authority Assessment
EDUCATION:
ScaleUp Summit Spring 2019
Atlanta, GA - May 21-22, 2019
Scaling Up User Conference Spring 2019
Atlanta, GA - May 23, 2019
Scaling Up Business Growth Workshops
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? The Scaling Up team is prepared to support you. We have helped 40,000 other organizations over the past 30+ years, in scaling up their organizations through coaching, workshops, online training and more.
We would like to offer you a complimentary, personal follow-up from our Scaling Up team to share how we can support you in scaling your organization.
YES! I WOULD LIKE TO LEARN MORE ABOUT COACHING& RECEIVE A COMPLIMENTARY FOLLOW-UP(CLICK HERE)
For questions or more information contact us at coaching@scalingup.com
TECHNOLOGY:
Create Accountability - Drive Execution with Align, cloud-based software designed to scale up your Rockefeller Habits implementation. www.alignwithscalingup.com - on your computer, tablet or phone. Click here to watch an introductory video.
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.
Growth Institute Online Executive Education:
Master of Business Dynamics
Scaling Up Master Business Course
Exponential Organizations Master Business Course
Topgrading Master Business Course
Did you miss previous insights? - read here
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