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Hello ScaleUps,
Hope itâs been a productive and purposeful week. Here are some insights/opportunities to help you outlearn/outthink the competition.
(It) was like having a loss leader as the majority of our business. Ken Allen |
Come Meet Henry McGovern --
Scaling AmRest to over 38,000 employees across 16 countries from his first Pizza Hut in Poland, Henry McGovern is flying over to keynote our ScaleUp Summit in Atlanta May 21 â 22. Outperforming the entire restaurant industry by a factor of 2:1 the past dozen years, Henry will share in detail how heâs accomplished this in a tough industry. Thank you Henry for giving back to our community.
Ken Allenâs $5 billion Turnaround (Lessons for All of Us) --
This HBR article details the steps Ken Allen took to go from a $3 billion loss in 2008 to a $2 billion profit in 2018 at DHL Express. There are important and applicable lessons for all of us âmere mortalâ company leaders. It starts with grabbing the attention of our team with emotion, images, and music!! Just read the opening paragraph â how Allen used the image of a beating heart that slowed and then stopped to convey it was time to act or go extinct!
The Fallacy of âLoss Leadersâ --
DHL was competing in a commoditized business where they didnât have any distinct advantage (hope thatâs not you) â domestic deliveries in the US. Noted Allen, â70% of our shipping volume was domestic, which was like having a loss leader as the majority of our business!â He further notes, âBehind the domestic expansion was the (ill-advised) belief that high volumes in domestic shipping would reduce our unit costs for international as well.â How many loss leaders do you have in your business? Has your sales team convinced you these loss leaders are needed to get the profitable part of the business? Question this, NOW!!!
The Power of Simplicity --
Continues Allen: âFor executives, the question of âwhat to doâ is often better thought of as âwhat not to do.â Every day half a dozen opportunities land on my desk that promise to be the next big thing, but successful managers know how to turn down opportunities that could distract from the sector where they can deliver the most value.â The âwhat not to doâ was domestic shipping â so Allen made the tough decision to exit this 70% of the business. What business do you need to exit?
It Always Comes Down to Focus â the âWords you ownâ --
âI knew we were putting ourselves on the right course by concentrating on what we did best,â exclaims Allen. âOur turnaround strategy was based on one central tenet: focus. DHL Express would have the single focus of being the worldâs premier international express shipping company.â No one could own âshippingâ â but DHL would own âinternational express shippingâ by being the easiest and best at this one thing. What is the one thing youâre best at?
Then Execution, $100 Million in Trainingâ¦and Music --
It was Allenâs next decision, when the company was losing massive amounts of money, to invest in employee training. Notes Allen, âOur employees define the customer experience. Recognizing this, our focus strategy positioned our people as the key part of a four-link chain of success: Motivated (and well trained) employees (1) would provide great service (2), leading to loyal customers (3) and, ultimately, a profitable network (4).â The rest of the article details how he did this, including his use of music/song to get his messages across. If it isnât obvious, I love this article. Please take 4 minutes to read/absorb â and then take action. Thank you to Scaling Up Certified coach Corwin Smith for pointing me to this insightful read.
Meet Me in NYC and London â Bloomberg CEO Summits
Bloomberg just confirmed: in addition to keynoting their CEO Summit in NYC June 17 â 18 Iâll be keynoting their fall CEO Summit in London Nov 11 â 12. These are Bloomberg member-only events, but global membership is just $5k per year (18 annual events) and itâs an impressive and growing group of CEOs. Speakers in NYC include The Carlyle Group co-founder David Rubenstein; General Stanley McChrystal (Team of Teams); Gary Loveman (Harvard prof/former CEO Harrahâs); and Kathryn Minshew, CEO & Founder of The Muse. For the complete program, go to this link
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
EDUCATION:
ScaleUp Summit Spring 2019
Atlanta, GA - May 21-22, 2019
Scaling Up User Conference Spring 2019
Atlanta, GA - May 23, 2019
Yearly Growth program in Amsterdam
16 April - 1 day Masterclass Amsterdam (in Dutch)
Scaling Up Business Growth Workshops
Amsterdam â April 16, 2019 (Masterclass)
Los Angeles, CA â April 25, 2019
Stockholm, Sweden â May 3, 2019 (Masterclass)
Ann Arbor, MI â May 10, 2019
Dallas, TX â May 14, 2019
Boston, MA â May 21, 2019
San Francisco, CA â May 30, 2019
Las Vegas, NV â Jun 4, 2019
Melbourne, Australia â June 6, 2019
Phoenix, AZ â June 6, 2019
Brisbane, Australia â June, 12, 2019
Sydney, Australia â June 13, 2019
Waltham, MA â June 18, 2019
Sydney, Australia â July 4, 2019
London, England â Jul 10, 2019
Brisbane, Australia - Aug. 21 & 22, 2019 (2 Day Masterclass)
Adelaide, Australia - Sept. 4 & 5, 2019 (2 Day Masterclass)
Sydney, Australia â Sept. 17, 2019
Sydney, Australia â Oct. 9 & 10, 2019 (2 Day Masterclass)
Dallas, TX â October 24, 2019
Sydney, Australia â Dec. 3, 2019
San Diego, CA â Dec. 10, 2019
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? 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.alignwithgazelles.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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