4 steps to accelerate growth and scale your business! Where does it start? Where does it end? And what comes in between!

Do you remember my previous article where I mentioned:” It would help if you treated Scale as a particular and unique speciality, empower a team that leads it, build a culture that encourages it, followed by the proper governance in place”. Assuming that your business is ready to scale, these are essential 4 steps if you follow diligently; I promise you that it will hold the whole process together, and it will work effectively on your business and achieve the desired growth. 

I always start by asking the question: why do you need to scale your business? You are ok, doing well, plus or minus 10% yearly; do you not need the extra headache? Well, let me be clear, scaling is not a walk in the park and is not for everyone and every business. Because scaling means increasing the size of your business, the size and scope of your operation, any attempt to expand on that can backfire.

Therefore, Scaling is for daring entrepreneurs, business owners who are brave, ambitious and willing to go the extra mile to create a leading position within their geography and competition. This means sweat and tears, sleepless nights, and knowing that they will fail at times. It is not that dark because you will celebrate small or big successes, and with the right mindset, you will learn from failure and grow throughout the journey. Those leaders are willing to hire a team of superstars that are better than them; they are happy to let go of control and lead with empowerment, responsibility and accountability. If you relate to this form of leadership, then you will find the below extremely useful.

Many customers work with us because they are stuck and reached a plateau; yes, they might have achieved growth initially but hit the ceiling afterwards. Other clients lack knowledge about scaling and how to grow their business sustainably. Some are a little scared of the unknown of such a journey. For the latter, I always say, we will always be able to deal with what comes diligently; the unknown is an illusion and can turn into fear which is the oldest enemy of growth and progress.

The 4 steps to consider, to accelerate growth and scale your business

1. Treat Scale as a particular and unique speciality

If you want your business to accelerate revenue, grow market share, create more significant social impact, double or triple its size, you need to treat Scale as a unique speciality. This is why amazing programmes like Scaling Up exist and, in our case, the 2Y3X programme. Treat Scale, similar to a new product or a new project, and start by calling it “PROJECT SCALE”.

And like any project, it starts by assembling a team, preferably of 5 or 6 max, as there is much evidence that the bigger it gets, you will spend more time on coordination and less time doing the actual work.

Things to consider when establishing “PROJECT SCALE.”

  1. you will have to assemble a team and, in this case, make sure they are top performers,
  2. agree on a goal or set of ambitious goals, metric-driven goals,
  3. create a clear timeline,
  4. identifies stakeholders that could influence positively or negatively your success,
  5. develop a list of initiatives,
  6. put KPIs in place
  7. and schedule regular check-ins weekly, monthly or quarterly.

I recommend that you check this new book, Scale at Speed – how to triple the size of your business and build a superstar team – from author Felix Velarde, the founder of the 2Y3X programme.

2. Empower a team that leads it

When your business starts to scale at an accelerated rate, things can begin to crack, vulnerabilities begin to be exposed, and sometimes you can’t always fix them on your own, especially when the journey has started. You could be held back by your technology, processes, cash flow, team, gaps in your supply chain or all of the above and more. Therefore you need to know in advance that scaling up and growing your business will affect your company – you must be ready, and your processes must be robust.

This is where the team in charge of “PROJECT SCALE” becomes handy. They will be on a mission to achieve Scale at Speed; therefore, choosing your a-players and top performers for this job is crucial to the success of this mission. This does not mean the most senior ones; in fact, this team, if possible, needs to be as diverse as possible on gender, ethnicity, experience level, and specialisation, but all have one thing in common: top performers committed to getting the job done. A team covering all your bases allows you to move efficiently and quickly reach your goals.

Some of what brings this team together and helps them to deliver “PROJECT SCALE” successfully

  1. alignment on goals,
  2. going through the team-building journey of forming, storming, norming, and performing,
  3. empowering decision making,
  4. creating accountabilities (do not mix between responsibility and accountability),
  5. allowing competition,
  6. making sure that they develop and own the plan,
  7. consider outsourcing if needed.

I recommend you read “The Five Dysfunctions of a Team – A Field Guide for Leaders, Managers, and Facilitators “ – from author Patrick Lencioni.

3. Build a culture that encourages it

Building a culture does not happen overnight. What if this culture encourages Scale at Speed. It might sound unattainable or challenging; however, the secret lies in what I call Consistent Momentum, with capital C and M. As time is the essence of what you are trying to achieve, it becomes crucial that momentum is created, and felt at all levels of the organisation. Every individual or team need to realise that she/he is an integral part of it.

Things can massively change when your business is growing at an accelerated rate, and when change comes into play, resistance to change becomes imminent. New dynamics will compete for your time and attention, which is of scarcity. As the business owner or the leader, you need to make sure that Scale is not deteriorating your culture but, on the contrary, adding value to it. How to remain empathic, be a good listener, safeguard your values so that your people and the organisation does not suffer on the way, and more.

To do that, few things to consider when building a culture around “PROJECT SCALE.”

  1. start with purpose and align your people around it
  2. have a consistent momentum and campaign it,
  3. establish culture-related goals as part of the plan,
  4. encourage feedback and lead by example
  5. foster open and honest conversations and be truthful
  6. create a clear set of processes that the team can lean on; it promotes safety and clarity
  7. celebrate, celebrate, celebrate small or big, wins or failures

I recommend you read “The Culture Blueprint – A Guide to Building a High-Performance Workplace“ – from author Robert Richman.

Put proper governance in place

What glues all the above together and help you reach with “PROJECT SCALE” to the finish line is proper governance. And this is not only about compliance, but most importantly, it is about performance. With that, you can eliminate as many as possible blind spots, mitigate risks, identify pitfalls and most importantly having a set of scenarios and responses that comes along. For it to work, you need to consider having two crucial things in place, your “Music Notes” and your “Orchestra Conductor”; yes, suppose you have a band at a concert, how would you think they perform without their notes and their lead or conductor?

Your notes will be a robust and tested Framework that will hold the process together, and the conductor is the Scale at Speed consultant, who plays multi roles to keep things on track and the team feet to the flame to remain focused; she/he will monitor performacne, be a coach at times, a facilitator, a guide or a mentor. Having both from day one is essential to keep the integrity of “PROJECT SCALE” seeing it coming to fruition.

Things to consider when executing governance for “PROJECT SCALE.”

  1. follow up on the agreed KPIs
  2. deploy a robust framework or strategy map, with the end goal at your sight
  3. develop the road map that will take you there
  4. create your risk registry and keep a close eye on the potential challenges
  5. Keep stakeholders regularly updated as you Scale,
  6. Try to predict the future with the proper data and creating regular alerts
  7. get external help

If you want your company to Scale at Speed, you’re going to need plan on how to scale your business.

By focusing on scaling rather than merely “growing” your company’s finances, you can generate greater revenue without ramping up costs or diminishing resources along the way.

I know that Speed is not always synonymous with sustainability. Now what 2Y3X does is create sustainability within Speed and Scale by utilising a robust set of tested and proven frameworks. To know more about the 2Y3X programme and get help to scale your business at Speed, reach out to me at georges.chakar@linkadvisory.com.

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Is Speed the new Scale? Will speed slow you down?

Many CEOs and entrepreneurs are asking questions about Scaling at Speed and how these two could work together.

  1. Am I moving fast enough?
  2. Will speed slow us down or distract us?
  3. Will Speed create sustainability?
  4. Will I be able to slow down and take a breath?
  5. What’s the endgame?

It is not necessarily easy to answer the above questions in short; however, if Scaling at Speed is your goal, then your mindset will be wired accordingly and will push you to see all the necessary avenues to serve that goal. You will make your utmost efforts, build the right team, use the required tools and get the necessary external help.

Setting a Clear Goal

It all starts with setting a clear goal; it was necessary before Covid-19 and is now even more crucial as we bounce back from the pandemic. In the latest webinar, “Strategic goal setting with 2Y3X“, I spoke with Felix Velarde, author of Scale at Speed – how to triple the size of your business and build a superstar team – in more detail about taking clients from the ‘end goal’ to today, working backwards to identify what needs to happen each year for them to succeed and to scale at Speed.

Many things have changed in the last 18 months, and we are at a critical junction to re-evaluate, decide on a clear vision and ask what we want? It goes like that if your goals are apparent, time-bound, and if you are committed to it, then you are on the right track.

In a recent interview with Mia Rodrigez of the 2Y3X, I spoke about the importance of goal setting as step one and how it serves our focus in a laser pointer approach. “The first thing that comes to mind is goal setting. When you identify your goals, you are creating focus by default. And when you create focus, you immediately create priorities. This then leads to the less important tasks falling down your list organically, so your attention can remain where it needs to be. This also reminds us to enjoy the journey and to reward each other each step of the way, so we don’t reach goals with overworked and unhappy teams.”

 Create Checkpoints

It’s true that Speed can sometimes create anxiety and panic or overexcitement, which can backfire. So there should be checkpoints, milestones along the way to keep that focus going. These are essential times for reflecting, celebrating wins – both big and small. These moments are for acknowledging all the efforts so far and assessing what needs changing to keep improving.

Think of the short-distance marathons, where runners start slow and increase their pace, slowing along the way for hydration breaks and check-ups. It’s processes and tools like this which create stamina. They help you to survive and to reach the finish line.

Sometimes it’s not about just exiting; it’s about creating sustainability beyond that goal that you reached.

 How to Treat Scale?

It is essential that you treat “Scale” as a particular and unique speciality, empower a team that leads it, build a culture that encourages it, followed by the proper governance in place. If you make that your day to day work, then your company will achieve Scale at Speed, and certainly, your competitors will struggle to match it, and you will be able to sustain your competitive advantage. Stay tuned to my next article to know more about how this process works.

I know that Speed is not always synonymous with sustainability. What 2Y3X does is creating sustainability within Scale and Speed by utilizing a robust set of tested and proven frameworks. To know more about the 2Y3X Programme and get help to Scale your business at Speed, reach out at georges.chakar@linkadvisory.com.

Price is what you pay. Value is what you get. -Warren Buffet

In my previous article about Value Proposition, I mentioned that my next piece would tackle the relationship between Positioning and Pricing, and here it is.

I mentioned that value proposition is the most critical thing that you can do for your business. It can be summarised with: Define clearly what you do and whom you do it for”, now I will add, and then your pricing has got to be suitable for it.

So, if you want to claim to be the best in the business at what you do so that customers would come to you, then you must consider pricing carefully. If you are going to say you are premium, charge premium prices. Because nobody believes somebody says, “I am premium but cheap”. It is really simple. Clear proposition offers you pre-eminence in your market.

People expect to pay top dollar for top value. If you can offer top value and you can substantiate it, then charge top dollar for it. You have to. If you can’t prove it, you’re like just anybody else, and in that case, you would better pick up something that you can claim to be brilliant at where you can substantiate it.

So how to create, quantify, and increase the value of your product?

Yet, I guess you all know that aside from being a 2Y3X Growth Consultant, I am also a Motorcycle Riding Instructor, and I always try to create an analogy between both worlds of Motorcycling and Business.

So, let us start from here. What impacts the value of your motorcycle? Have you ever asked yourself this question?

We all love our bikes, but, for whatever reason, very few are faithful to theirs’ forever. Most of us like changing it and will sell our motorcycles at times, and when that time comes, we always like to get the best resale price we can.

Most of us have an approximate idea of what our bike is worth. Think back to what we paid for it and knock off a few hundred quid for each year we have owned it. Simple, huh? So, most of us are shocked when looking for a part-exchange price, and we get an offer from the dealer that is considerably less. Or even worse, do you recall those dealers saying, “we buy any of your motorbikes”, and then their valuations appear to have a decimal point in the wrong place.

But what are the factors that influence someone wanting to buy a motorbike? Here are 12 factors to consider when it comes to the resale value of your pride and joy:

 1. Condition

It goes without saying that bikes in good condition will command a premium over average or poor ones. Bikes that look unloved are less desirable, and savvy buyers will bargain over every little detail.

2. Service history

This is increasingly valuable with older bikes – a timely serviced bike suggests a very different proposition to one with no service history. 

3. Accessories

Even though many buyers prefer bikes in their original situation, some carefully chosen accessories can make your bike more desirable. 

4. Timing

Motorcycling is seasonal, so it makes sense to take that into account. 

5. Advertising images and description

Most people are going to judge your bike by the pictures and words you use to advertise it.

Do not lie but take nice pictures with the best possible light and be descriptive in the text. 

6. Supply and demand

Before selling your bike, check the internet to find out prices of other similar bikes that are up for sale, and make sure you understand their specs and conditions. 

7. Originality

Although many riders like to modify their motorcycles, buyers generally want their bikes to be as close as possible to factory specification, especially as they approach classic and vintage ones. 

8. Mileage

Most buyers will judge a bike’s condition based on its mileage.

9. Age

In the first few years of a bike’s life, age is critical because that is when the price falls fastest. 

10. The revival factor

Nostalgia sells, and motorcycles are no different. We all remember our first bikes or the ones we lusted after as teens, and as we get older and have more income, it is natural for riders to seek out their first loves. 

11. Rarity

Continuing on the theme of supply and demand, the rarity factor often plays in the used bike market, especially for limited edition choices.

12. New models

The introduction of a new model can impact the value of your motorcycle, especially for the new ones.

The above factors can be split between ones you cannot influence, such as Supply and Demand, Originality, Mileage, Age, The Revival factor, Rarity, New models. And others that are within your control, such as Condition, Service History, Accessories, Timing and Advertising images and description.

Yet one thing is sure; the cost of your motorcycle does not drive its selling price; it is about the total value perceived by the buyer, which is influenced by the twelve factors listed above. The same applies to your product. Your pricing should be about the total perceived value and positioning play a significant role in quantifying that value.

The value guru Todd C. Snelgrove, Founder of “The experts in Value” and Co-Editor of “Value First Then Price”, spent a lifetime analysing and developing the relationship between value and pricing. He states that: 

“Quantifying your value, so customers are willing and able to pay for it!”

“How does one get paid for value created? The question has been asked by every premium player in every market of the world. Given that the financial benefits of value creation and pricing are well known, why do so many companies fail to achieve the desired results after they’ve done the work to create something of value?

For those that do invest and create customer value, it’s time to do the work to get paid for it!

PV ≥ COST = ACTION

I have begun to look at this as a formula. If the perceived value (PV) of a good or service is greater than or equal to the cost of buying it, then an action such as a purchase should occur. “

Todd C. Snelgrove

In a nutshell, whether it is your motorcycle or your product or service, the selling price is directly dependent on the perceived value from the buyer. While there will always be factors related to market dynamics that you cannot influence, there are many others within your control to increase the value; thus, the price, given you can quantify and substantiate that.

Reach out to me through jihad.houwayek@linkadvisory.com if you would like to learn more about value-based selling and how 2Y3X programmes can help you price your products and services the right way.

Jihad Al Houwayek

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