How do you lead a fast-growing business?
The answer, says business coach and Bill Gallagher, is you constantly have to work at it.
Leaders must be able to forge strong relationships with teams of 10, 100, 1,000 or much more as their organization grows. That becomes more difficult as the numbers increase.
Gallagher is a former jewelry business CEO and entrepreneur turned business coach, podcaster, and speaker. He has led companies and business divisions as large as $500M in revenue.
As business leaders are growing their companies, they need to constantly be upgrading their leadership skills, much in the same way a fast-growing business needs to update its systems and software.
Gallagher says there are four core areas leaders need to work on, based on the ‘Scaling Up‘ framework (based on the book by Verne Harnish):
- Vision: leaders need to create a “Manifesto” which captures their vision for the company
- Practice: you need to develop a practice which will establish the culture for the company
- Authenticity: leaders need to be authentic, which comes from being vulnerable and open and honest
- Coaching: leaders need to learn to coach others because they can’t personally guide every employee as the organization grows, so their coaching is necessary to guide the organization.
In this brief video, Bill talks about these four key areas:
I also highly recommend Scaling Up: How a Few Companies Make It.and Why the Rest Don’t (Rockefeller Habits 2.0) by Verne Harnish (referral link). The framework presented in that book is the basis for the work of Entrepreneurs Organization, which is a coaching/mentorship program for growth-oriented businesses that I belong to. I was so impressed after I read the book that it led me to join their program to work more directly on the principles presented in the book.
This episode is sponsored today by Rise25, the training company founded by my business partner, Dr. Jeremy Weisz and myself with the mission of helping business owners from professional services get away from trading hours for dollars and shift from one to one client work to one to many programs and offers.
We are building a community of entrepreneurs who realize the world and economy is changing and who want to work smarter than trading time for money so they can scale up their business and spend time doing what they love.
Check out Rise25 to learn more about our retreats and training programs.