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745: Workshop- Knowing with It's Time to Scale with Chris Schultz

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Release Date: 09/03/2020

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More Episodes

Chris Schultz spent 15 years with the Starbucks management and leadership team before joining MOD Pizza, aka the MOD Squad in 2009.  Schultz helped MOD Pizza go from 1 location to 100 locations in 2016 as Senior Vice President of Operations. Today, Chris serves Voodoo Doughnut as their CEO. You can see, Chris Schultz has developed a track recording of helping great brands scale. That's what we're here to talk about today: When You Know You're Ready To Scale. 

Show notes…

Calls to ACTION!!!

Favorite success quote or mantra:

Be authentic.

When You Know You're Ready To Scale: 

  • Business
    • Can you show a conservative growth period over the period: Month over Month: quarter over quarter
    • Don't be fooled by being on Main and Main
      • Location is a factor.
      • Your brand must be great to help manage cannibalization
  • People
    • Do they understand the Mission? 
    • Who are your culture carriers that can help lead and build the stores
    • Pick front line people with whom you'd share a foxhole.
      • have Confidence in leadership
      • Embrace growth and opportunity without fear
  • Culture
    • Must have a solid culture to grow and employees want to grow-- "Growth mentality"
    • Failure is not an option -- not just words on a wall, but a feeling you have
    • "Growing big while staying small" 
  • Infrastructure
    • A realistic view of the brand - Is it actually scalable AND scalable *where* you want to scale?
    • When to hire in for growth VS "stretch" for growth to make it work
      • Failure can occur because of too much overhead or by burning out good employees. 
    • Get utility players; they are vital to infrastructure-- find people who can wear different hats. Then empower them. 
    • CEO's must be able to sacrifice their own opinions and play the role of the visionary.
      • Having leadership you trust to make decisions based on your vision. 
  • Why Growth? 
    • Making money - nothing wrong with wanting to make more money; but, important to recognize the complexities that come with it. 
    • Bringing the brand and experience to a larger consumer base. 
    • Growth is not necessarily an indicator of success
    • Incremental growth
      • One to two is hard
      • Two to five is harder and the hardest
      • Five to 10 is impossible
      • After 10 it gets easier 
  • "Selling" Your Brand
    • It's okay to strategically utilize for growth
    • Why franchising works
    • Brand based companies are different 
      • licensing and Licensees
      • Company Operated. 
  • Are you Ready as a Leader? 

Contact info:

Chris@voodoodoughnut.com 

425-372-6556

Thanks for listening!

Thanks so much for joining today! Have some feedback you’d like to share? Leave a note in the comment section below!

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Huge thanks to Chris Schultz for joining me for another awesome episode. Until next time!

 

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