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In this episode, we host
Verne Harnish, the author of the bestselling book
'Scaling Up: Why some companies make it and why other's don't' As an entrepreneur, there are 3 key phases of business building. The first is the the Zero to One journey. Where you take an idea and test it in the markets and build a small business around it. Then comes the 1 to 10 Journey Where you to convert the initial success to product market fit, build a team and scale it to a few more customers. And then comes the 10 to 100 Journey where you press the pedal and build large business.
The Scaling Up book is one of the best books that helps you understand what it takes to scale for 10 to 100 journey. It is a must-read if you’re an entrepreneur with a small to mid sized business. On the episode, we deep dive into two key topics that are important in a Scale Up Journey - Pricing & Compensation. Verne discusses some frameworks and examples to help entrepreneurs think through these topics.
Episode Timeline:
(02:38) - How did Verne Start Entrepreneur's Organization (EO) with Steve Jobs
(07:36) - Four Levers of Scale Up
(09:47) - Deep Dive into how Founders should think about Pricing
(14:32) - B2B Pricing
(19:35) - Interesting Story about Pricing
(25:36) - How to think about Compensation during Scale Up
(35:29) - How to implement Profit Sharing Compensation Scheme
(43:04) - Two Important Habits for Entrepreneurs
Relevant Links
Good Better Best Pricing - HBR ArticleConfessions of the Pricing Man: How Price Affects Everything
The Indian Dream