188: Scaling Up Insights — Coach Panel with Eugene Terk
Release Date: 02/05/2020
Culture, creating a strong one
Scaling Up Business Podcast
In this episode, Bill delves into the significance of creating a powerful and positive company culture as a foundational strategy for scaling businesses effectively and sustainably. He likens the ideal company culture to a "good cult," emphasizing the need for intentional, cult-like qualities within a company to foster unity, commitment, and shared values among team members. By drawing parallels with companies like Disney and Apple, known for their strong, cult-like cultures, Bill outlines how such a culture can significantly contribute to a company's success by enhancing...
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Managing a Positive Cash Flow with Peter Kingma
Scaling Up Business Podcast
If maintaining positive cash flow is keeping you up at night, this is the conversation you need to hear. Once you’ve got cash figured out, everything runs more smoothly. Peter Kingma works with multinational clients and leads EY Working Capital services in the Americas. Corporate leaders entrust him to help liberate cash through operational improvements, which help in reducing costs and improving service quality. His new book, Cash Is King, discusses why your company’s cash position should be on an equal footing with sales, cost, and service, and how to make that happen. ...
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Core Values, how to develop and use them
Scaling Up Business Podcast
In this insightful episode, Bill delves into the essence and significance of company core values, demystifying how to get them right and why they are so crucial for creating a thriving, scalable business. He emphasizes that core values are not mere aspirational statements or the embodiment of desired traits but rather a reflection of how a company operates at its best. Bill argues that core values should guide the behavior and decisions within a company, ensuring it grows in a way that remains true to its founding principles without becoming overwhelming or diverging into something the founder...
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Delegating as a Leader with Dave Kerpen
Scaling Up Business Podcast
Effective leaders know how to delegate the things they don’t do well — or don’t want to do well — so that they can focus on their strengths and move the company toward greater success. Dave Kerpen is currently an advisor to many companies and is the CEO/Co-Founder of Apprentice, a platform that connects entrepreneurs and business leaders with smart and motivated college students looking for real-world experience and mentorship. Dave’s new book, Get Over Yourself, shares the roadmap for how you can shift your mindset (and your workload) to focus on the things most important for...
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Perfecting your pitch
Scaling Up Business Podcast
In this episode, the focus is on mastering the art of pitching within the context of growing a company, emphasizing the importance of engaging people effectively despite their inherent complexities and irrationalities. Recognizing that people, including ourselves, operate in ways that might only make sense to them, the episode delves into how to craft a pitch that resonates and leads to more affirmative responses. The key lies in sharing a compelling vision of the future that addresses a problem or gap and depicts an improved future state. This approach not only demonstrates an understanding...
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Don't Self Sabotage with personal worries
Scaling Up Business Podcast
In this episode, Bill delves into the psychological barriers that hinder our ability to secure affirmative responses in business interactions, emphasizing the detrimental impact of personal concerns and self-doubt. He identifies common worries, such as fearing one is too salesy or arrogant, and illustrates how these internal fears can prevent effective communication and diminish the enthusiasm in pitches or proposals. Bill proposes a solution to shift focus away from oneself and towards understanding and addressing the needs and interests of the other party. By acknowledging and setting aside...
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Designing a Company That Can Get Rich with Christopher Volk
Scaling Up Business Podcast
The ultimate goal of building a company is to build its value. Designing a company that can get rich is not always top-of-mind for business owners, but it should be. Christopher Volk is the author of The Value Equation. Christopher was instrumental in leading and publicly listing three successful companies, two of which he co-founded. A 2019 regional winner of EYs’ Entrepreneur of the Year award, Christopher is a frequent university lecturer and serves on multiple non-profit boards. Not all companies are created equal. While many companies focus on their goods or services that...
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Talent Assessment and Development
Scaling Up Business Podcast
In this episode, Bill introduces a comprehensive approach to talent assessment aimed at enhancing team performance and fostering a positive work environment as businesses grow. He emphasizes the critical importance of assembling a team that not only performs well but also aligns with the company's values and culture. Bill introduces the concept of a talent assessment tool and process that focuses on two main criteria: fit with the company's values and performance in their current roles. This straightforward assessment provides a clear strategy for managing team members, highlighting the need...
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Dignity in The Modern Workplace with Ari Weinzweig
Scaling Up Business Podcast
Does dignity in the workplace really matter? Plenty of companies seem to get by without upholding dignity, but with over 40 years of experience and $60 million in annual sales, today’s return podcast guest knows there is a better way. Ari Weinzweig is the co-founder of Zingermans Delicatessen. Ari, alongside his co-founder, Paul Saginaw, started Zingerman’s in 1982 as a restaurant and specialty food retail space. Now the Zingerman’s Community of Businesses has 23 partners, employs over 750 people, and generates over $60 million in annual sales from ten separate businesses. ...
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Process Accountability PACe
Scaling Up Business Podcast
In this episode, Bill explores the crucial concept of process accountability as a key driver for company growth and efficiency. Focusing on the interplay between team engagement, performance, and the seamless integration of various business processes, Bill sheds light on the importance of defining and managing core processes distinct from functional responsibilities within a company. He emphasizes that processes like the transition from lead to customer experience involve multiple departments and, without clear accountability, can lead to missed opportunities and inefficiencies. Bill delves...
info_outlineWhat’s happening in the world of Scaling Up? Our panel guest is Eugene Terk; he is the VP of Business Development & General Counsel for Align Technologies. He and Bill discuss everything from Horst Schulze’s biography, Excellence Wins, to the #1 investment of the decade, how to best leave a fulfilling legacy, and so much more!
Horst Schulze is the man behind designing an excellent experience at Ritz Carlton. In his book, Excellence Wins, he details how he scaled the brand while beating an incurable form of cancer along the way. Eugene admits he is a loyal Marriott fan, but it is true that staying at Ritz Carlton is a very exceptional experience. Everyone remembers your name there.
The best investment of the decade… is bitcoin? $1 invested in 2010 would be worth $90K today. Although amazing, Bill thinks it’s too volatile. $1 of gold is now worth $1.34 and crude oil performed the worst overall; $1 of oil is now worth $0.74. Eugene noticed that the U.S. stock market is currently performing the best in the world. Park it, chill out, and play the long game.
One of Scaling Up’s highest-rated speakers, Jeff Hoffman, talks about leaving a business legacy and how to truly take care of your people and connect with them. Your work family is often as important as your family at home. People want to surround themselves with good people and you want to see them grow and succeed. It might sound simple, but by keeping your employees happy, they end up staying at your company for longer!
Interview Links:
The #1 investment of the decade
Excellence Wins: A No-Nonsense Guide to Becoming the Best in a World of Compromise, by Horst Schulze
Profit shares vs. market share
Time magazine’s best inventions of 2019
How to develop leaders inside the company
Resources:
Scaling Up Workshop: Interested in attending one of our workshops? We have a few $100 discounts for our loyal podcast listeners!
Scaling Up for Business Growth Workshop: Take the first step to mastering the Rockefeller Habits by attending one of our workshops.
Scaling Up Summits (Select Bill Gallagher as your coach during registration for a discount.)