Coaching Archives - Elevation Leaders

Who participates in the Scaling Up process? Just the partners or the entire company?

dmncreative — Fri, 02 Dec 2022 12:36:29 +0000

The Scaling Up Process is incredibly collaborative and inclusive. We highly recommend building a strategic team at the top. We want to surround the partners with the right people to achieve our goals together. One good way to think about this is in terms of company functions. Are all of the functions well represented in the strategic team: Sales + Marketing + Operations + HR + IT + Technology + Finance + R&D + Customer Service, etc. Another important consideration is having “strategic” individuals around the table. It will be challenging if the team has too many “tactical” team members. This process does require the ability to think strategically about the entire business.Eventually we will also integrate the next layer of management, and all other team members into the process.

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Is it possible to grow profitably? I have heard this is very rare…

dmncreative — Fri, 02 Dec 2022 12:36:12 +0000

Every business is unique in their goals and objectives. However, we believe the one constant that should be present in every single “private” business is Profitable Growth. There is incredible risk when growing quickly. The faster the growth, the more chances profits will be negatively affected, putting the entire business at risk. These decisions will be made upfront, in our first 2 days of Strategic Planning. We will decide as a group exactly what you want to achieve and how. This will lead to important discussions around the ability to stay profitable while attaining objectives. The role of the coach is to challenge the plan if it is unrealistic or will put the business at risk. Eveeyrs ingle business we work with (without exception) tries to take on too much. It is human nature in a capitalist society. We overestimate how much we can accomplish in the short term, and underestimate what we can achieve in the long term. It is as important to say “NO” to certain initiatives as it is to take on lofty goals. Your business coach will help you figure out the right balance. It is a learning process and will take time. But it will bring tremendous focus and alignment.

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How does a company know whether they are ready to work with a coach or if they should champion the process internally?

dmncreative — Fri, 02 Dec 2022 12:35:26 +0000

Some companies try to champion a business methodology themselves, specifically in the early stages. Due to the important investment in bringing in a business coach, smaller businesses will try to self-implement and typically are able to get things off the ground to start. We normally see a lack of ability to sustain the momentum as “business” gets in the way and internal resources are stretched thin. If you are a smaller business, we would definitely recommend reading Scaling up and Traction, and giving it a try to start. As your resources increase (people and money), investing in a strong external coach will make a big impact. As business owners, we are in the daily grind and struggle to take a step back objectively. This was certainly the case for me in my business. This is the reason we hired a coach after we surpassed the 5M revenue threshold. It was one of the best decisions we ever made. The right business coach – one who truly fits your values and understands your industry – will bring an external perspective and significant experience sharing that will be transformative.

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How do we know where to start the Scaling Up process?

dmncreative — Fri, 02 Dec 2022 12:34:24 +0000

When you work with a Scaling Up Coach (or any strong business coach), they will lead the process and ensure your needs are well taken care of. The process starts with a 90 minute discovery call, where we encourage the entire strategic team to attend. This is followed by completing the Scaling Up assessment, where you will get a very good idea how your business is doing with the 4 Scaling Up pillars: Strategy + People + Execution + Cash. And the next major step is the 2 day Kick-off, where we will be the foundational elements of your OPSP (One Page Strategic Plan).

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How do I know if my business is a right fit for your offering?

dmncreative — Fri, 02 Dec 2022 12:33:43 +0000

This is a very important question. Scaling up is not for every business. Your company must be well positioned to start the process. We work with companies that have surpassed the 1M revenue target. Ideally you have a strategic team in place. It is imperative to have support at the highest level to succeed. You must also be ready to fully commit as this will only work with discipline and buy-in from the entire team.

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What case studies of prior success do you have?

dmncreative — Fri, 02 Dec 2022 12:33:25 +0000

Due to the sensitive nature of our work, we don’t share specific company names, although we will provide strong references on a one-on-one basis. Entrepreneurs are always willing to speak to other entrepreneurs! From the highest level, we have companies who have 10Xed their business valuation. Two of our clients have had successful IPOs. There have also been several positive company exits.

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