Jan 2, 2020
Verne Harnish, founder of the world-renowned Entrepreneurs’ Organization (EO) and CEO of Scaling Up, a global executive education/ coaching company, has spent the past three decades helping companies scale up. Credentials?
Verne, citing John D. Rockefeller’s biography, Titan, believes that hyperfocus is critical to business success. He gave the example of Arnie Malham, a longstanding EO member, who wanted to be a marketing/ advertising agency. Focus? Advertising and marketing for law firms. More focus? Personal injury law firms –Intense focus? Personal injury law firms in NFL cities, large cities with the sophistication of billboarding and radio. Hyperfocus? To work for one personal injury law firm per NFL city, making a simple promise: “I’m going to make you No. 1 in that market.” Then, provide a 100% solution.
In this interview, Verne talks about the four numbers it takes to grow a company: revenue, gross margin, profit, and cash – each significant at a different growth stage.
At the organizational level, Verne claims there is one routine that will drive things further faster than any other – daily meetings to ensure organizational alignment on the task that needs to be done that day.
Verne invests privately in a number of scale-ups and is a member of the International Brotherhood of Magicians – so business-wise, or recreationally . . . he spends a lot of time doing “magic.” He available on his company’s website at Scalingup.com, on the company’s new media site at Scaleups.com, and by email is email@example.com.