Scaling Up Business with Bill Gallagher

Welcome back to another episode of Scaling Up Insights! We have guests Daniel Marcos, Andy Clayton, and Judy Guido to share their thoughts on the new developments happening in the World of Scaling Up.   Andy is the Lead Coach at Petra Coach Europe and has helped Western companies operate over $50 million in sales in China. Daniel and Judy are returning panel guests. Daniel is the Founder of the Growth Institute and coaches primary Latin American markets. Judy is the Chair of Guido and Associates and has overseen at least 100 several successful mergers and acquisitions.   Daniel is seeing a lot of people worried right now. There’s a lot of misinformation being spread around and they don’t know who to believe. Judy agrees. There is a lot of misinformation coming out in the health arena alone and it’s putting people at risk. Judy believes now is a great time to talk to your competitors and get a feel of the landscape. Don’t speculate, get the facts.   Andy understands the worry. He spent 15 years in China and a lot of his friends and family are still living there. He is seeing Europe repeat the same patterns that China did. He believes whatever is happening currently, we will see lasting effects ripple throughout the economy. Things will not be 100% the same as they were before.   In this episode, our panel of coaches discusses pandemic preparations, innovation in companies during times of natural disasters and war, and the types of changes we can expect to see happen.   Interview Links: Daniel: Danielmarcos.co Judy: Guidoassoc.com Andy: Petracoach.com   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.) Bill on YouTube

Companies now have everyone working remotely. If you don’t have it yet, you’re about to. Remote work is becoming the new normal and most of us are not set up for it! Today’s episode is all about ways you can optimize your working-from-home situation.   Daniel Ramsey is the Founder and CEO of MyOutDesk, a virtual assistant provider for businesses looking to take their needs offshore. Daniel has over 13 years of experience helping clients manage remote employees and has a quick checklist of all the tools, systems, and processes clients need to succeed.   Daniel started his business in 2008, during the economic downturn, and had to think quickly on how to serve his clients. He helps his clients in four key areas, sales, administrative support, operations support, and marketing assistance.   In Daniel’s checklist, the first step is to understand who your audience is and what are the different things that matter to them. This could be your employees, clients, and vendors. Once you understand who you need to be talking to, the next is to develop a remote checklist.   Find your communication hub that everyone will use. Start your day with to-do tasks and end your day with a report on how those tasks went. Over-communication is critical at this time. Use video conference calls when chatting about important topics because that face-to-face interaction is critical.   Interview Links: Myoutdesk.com Dave on LinkedIn Ringcentral.com   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.) Bill on YouTube  

Each day this week, Bill has been sharing a podcast about important information you need to know during a crisis. We first started with Warren Rustand, who discussed leading in a time of crisis; he was followed by Heidi Hanna and she covered the mental health aspects of dealing with a crisis.   Greg Crabtree covered business financials, Rich Manders spoke about how to create a Plan B without panic, and finally, Cameron Herold discussed how to execute during a crisis. You can look forward to Verne Harnish’s talk about the 5Cs for leading in a crisis in the next few days. There will be an upcoming podcast about remote work, as well!   Don’t try to fake it during this time. If you have concerns or fears, lean into it and face it. Don’t you try to avoid it or replace it, or numb it. Bill woke up at 2 a.m. feeling anxious and he spent some time trying to find where these feelings were coming from. By developing your emotional intelligence and awareness, this gives you an excellent opportunity to show up as a leader and be there for your team as well.   Also, don’t feel like you need to have a fully thought-through strategy. Leaders feel like they need a plan right now to guide them, but it’s hard to develop one when you don’t really know what’s happening yet. Get ready to plan on the go at a time like this. Sometimes you can even involve your team to help create the plan with you. It doesn’t have to all be on your shoulders.   Use this opportunity to create leaders within your team. It’s really essential that you lead even before you have a foolproof plan, but you can start by just engaging with your team and letting them know you’re there for them. By pooling your resources together, you will be able to discover unique solutions to current problems.   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.) Bill on YouTube  

Panic is contagious out there but so is leadership. It’s time for leaders to rise up! This is why we have a very special guest today and that’s Verne Harnish. He has spent 38 years working with the best leaders dealing with crises and has some words of wisdom for you today.   Things are changing every 24 hours and so it’s important to keep your eye on the prize and plan for where you plan to be in the next ten years. What’s happening today, we will get through it. Just like we’ve gotten through world wars.   Leaders need to be over communicating during this time. People need it. People don’t feel safe and when they have a leader constantly checking in and letting them know that all of us will persevere, your staff will think rationally and, most importantly, not panic. If you have something negative to share, make sure that’s what you talk about first. Don’t try to sugarcoat it.   During this time, focus on giving. Give, give, give. You might want to consider turning off promotions because that might be seen as insensitive. Also, take some time to learn something new and focus your attention away from the news. Take care of the little tasks that you’ve been putting off. You have a great opportunity right now to recenter yourself and optimize processes. You might actually find that you’ll have extra cash laying around!   Finally, remember to stay calm! A leader sets the tone for the entire organization. If you’re having a hard time remaining calm, try to breathe, adopt a new mantra, and/or practice mindful meditation. Just take a few deep breaths and be thankful you were able to take those breaths!   Interview Links: Scalingup.com “5 (Practical) Cs For Leading In A Crisis/Downturn”   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.) Bill on YouTube  

Basic routines still matter as you are going through change and a bit of disruption in your standard patterns. Focus and great execution will help get you through this period of stress and uncertainty. Cameron Herold is a business consultant, best-selling author, and speaker. He built two million dollar companies by the age of 35 and grew one of his companies, 1-800-GOT-JUNK? From $2 million to $106 million in revenue within six years. Today, he is the Founder of the COO Alliance. Cameron publicly announced in January that he would shift 50% of his assets into cash to prepare for a downturn. He has been telling his coaching clients for the last 12 months to prepare for a downturn. It’s important to have a discussion around the ‘what ifs’ before you need to have them. To react in the moment of uncertainty is very stressful. Cameron recommends that for future crises, it’s important to take some time out of your day every month for a strategic thinking session. Give yourself some space to think about the next 12 months and what might the world look like. By having a plan, you can become adaptable during an uncertain time. For example, two of Cameron’s speaking engagements canceled. It’s not a big deal to Cameron because he is able to focus on his core plan, which is to grow COO Alliance and to continue on. Instead of freaking out, he is focused on his three-year vision that he is driving towards.   Interview Links: Cooalliance.com Cameronherold.com COO on LinkedIn   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.) Bill on YouTube  

How do you move from surviving to thriving during the worst pandemic crisis we’ve seen in a very long time? You can write your own breakthrough growth story right now. Today, you’ll learn how to use the Strengths, Weaknesses, and Trends (SWT) tool to help accelerate your growth.   Rich Manders was the Co-Founder of iAutomation, which started from $0 sales in 1998 and grew to a $90 million run rate with 185 employees. He is currently the Co-Founder of FreeScale Coaching Systems, a leadership team coaching firm focused on helping scale middle-market businesses.   Rich works on a quarterly rhythm with his clients and they are stuck in uncertainty due to the Coronavirus. Clients are unsure how this pandemic will affect their business model going forward, but to help them get unstuck in this process Rich is helping them get their Quarter 2 plans done.   The first step is to do an SWT analysis and update it. Rich estimates that 3/4 of his clients are severely impacted by the virus. Key conferences and flights are getting canceled, leaving a lot of people homebound and unable to work. Rich is working with clients on a backup plan. It is always good to develop a plan for the downside.   Take your current business model and your income statement and broadcast ‘doomsday’ scenarios. Rich recommends three: 10% cut in revenue or sales, 25% cut, or a 50% cut and rework business plans around each of these cuts in advance.   Interview Links: Freescalecoaching.com Rich on LinkedIn   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.) Bill on YouTube

Cash is a king and you can’t survive without cash. You also cannot take advantage of opportunities without cash. If you’ve prepared well, you have a big cash reserve right now and you will be able to maximize your return on luck during this period. However, what happens if you don’t currently have enough in reserves?   Greg Crabtree is a speaker, author, entrepreneur, and financial expert. He is the CEO of Crabtree, Rowe & Berger, PC, a CPA firm that focuses on helping businesses create sustainable profits, manage tax implications, and more. Greg is also the author of the book, Simple Numbers, Straight Talk, Big Profits, in which he shares his core principles on how to turn your business into a wealth-building engine.   When Greg wrote his first book, it was during a time where the market had just recovered from the recession. During his research, he found that a fully capitalized business, which means businesses that had two-months of core capital targets achieved, were the ones that took advantage of their situation the most and not only survived the recession but thrived from it.   Greg realizes that not every business has two months of cash on hand, which just means that businesses currently facing a crisis need to think creatively on how to navigate through situations like this. Whatever is happening in the world today, take a look at your profit engines and ask yourself, “Am I going to be losing money or am I just not going to make as much?”   If you’re going to be losing money, look at the balance sheet right away and see how much runway you might have. Then, start cutting things that don’t make sense for your business right now. One of Greg’s travel clients realized that it made the most sense to turn off their paid search as fewer people will be willing to travel right now.   There are big ripple effects happening all across industries. Investors are hesitant to invest, restaurant and service industries are down, people are staying home more. However, that doesn’t mean all businesses are affected equally. Greg’s real estate clients are OK in this uncertain time. Take a look at your particular industry and see if this is a disaster for you.   Greg believes most industries have 90 days of runway to wait and see what this pandemic might turn into before it puts businesses in a tight situation. He is hopeful that by June things will be a little more clear and the pandemic situation will be positive. Most of Greg’s clients right now are growing between 10-30% a year. Greg’s advice is to reduce unnecessary spending, be cautious about staff adjustments, and ride it out. And remember, the stock market is not an accurate indicator of the economy.   Interview Links: Simple numbers.me Simple Numbers, Straight Talk, Big Profits, by Greg Crabtree Greg on LinkedIn   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.) Bill on YouTube  

We’ve all heard of the advice that you must put on your own oxygen mask first before helping others. But how can you do that if you’re losing it yourself? We have a mental health expert to help calm your nerves. This episode is two of a series of five episodes on the five big moves leaders need to make right now during a crisis.   Dr. Heidi Hanna is the Chief Energy Officer of Synergy Brain Fitness, a company providing brain-based health and performance programs to individuals and organizations. She is also a Founding Partner of the Academy for Brain Health and Performance and a Fellow and Advisory Board Member for the American Institution of Stress.   Emotions are running very high and there has been a range of reactions to the latest pandemic news. When faced with challenges like these, ask yourself how you can become resilient through what you’re facing currently. What are the little things you can do today to take better care of yourself physically and emotionally?   Heidi has a few different ways on how to better manage your emotional well being in times of uncertainty and a crisis. The first one is to have a bit of awareness of what’s actually happening, away from the fear and the hype the media might portray. It’s okay to validate your experiences and admit to yourself that we are in a difficult time and that you might be feeling overwhelmed, or fearful of what’s to come.   Take some time to look for ways we can adapt more effectively to our new set of circumstances. Pay attention to what you can control to the best of your ability. Also, it’s okay to focus on the positives of life while still taking precautions. You can always take time to laugh, love, and enjoy your life despite the challenges around you.   Interview Links: Heidihanna.com Ebrain.teachable.com Brainhealthandperformance.com Stress.org Heidi on LinkedIn   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.) Bill on YouTube  

How do you lead people when you don’t know what’s going on? Nor when you have a plan in place for an unexpected crisis? Teams are desperate for your leadership. This episode is one of a series of five episodes on the five big moves leaders need to make right now during a crisis.   Warren Rustand is a serial entrepreneur, educator, and public servant. He served as Appointments Secretary to President Gerald Ford and has been Chairman or CEO of 17 companies. He was the previous Chairman of the World Presidents Organization and the Dean of Leadership for the Entrepreneurs’ Organization. He also has served on more than 20 boards throughout his career.   Remember, you are a leader of your family, your business, and your community. The first thing to do is seek clarity while everyone around you might panic. Step back for a moment and make sure you have a very clear view of what’s going on. We have to be data-based in our decision-making.   As a leader, think about how you might want to communicate to those who seek your advice. Communication should be driven by the available data that you have and not through rumor or speculation. During this time, it’s okay to be completely transparent that you might not know all the answers right now. It’s okay to be vulnerable and to lead your team by what data might be trickling in day-by-day.   Write out your thoughts and create a plan of intentionality. List your planned steps of action on paper. This applies to both your family life and your work life. Review it and process it before you make choices and decisions. We have to find the right timing to make decisions correctly.   Interview Links: Warren on Wikipedia Warren on LinkedIn   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.) Bill on YouTube  

How do you get your marketing to work better? How do you know when your messaging is working and how do you optimize it for maximum conversions? If you’re worried about whether your message is hitting home for your customers, chances are you have a branding issue.   Lindsay Pedersen is a brand strategist and author. With her growth-oriented approach, she has advised companies like Starbucks, T-Mobile, IMDB, and more on how to hone their brand. Lindsay uses her Ironclad Method to run brands through a rigorous testing process to make sure they stand the tests of time.   When Lindsay worked at Clorox, she had to get really good at developing the brand so that people would buy them over any other competitor. The truth is, brand-name bleach vs. a private label is the same thing product-wise, so what makes consumers buy a well-established version? It’s all in the branding!   People often think that branding is just how your logo looks or how your social media is presented, or your personality. All those things add to the brand but are not the brand itself. Think of branding as your north star that will guide you into different mediums and product/service launches.   In Lindsay’s book, Forging an Ironclad Brand, she wrote it to demystify how to create a compelling brand, how brand can be used as a leadership tool, and she shows you the method of how leaders can build this out and not feel so ‘lost’ in branding. The best part is you don’t have to be a creative type to build out this strategy.   Interview Links: Ironcladbrandstrategy.com Forging an Ironclad Brand: A Leader’s Guide, by Lindsay Pedersen Lindsay on LinkedIn   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.) Bill on YouTube