“Scale up” workshop with Dr. Jean-Marc Fandel 📈
Written by Sophie Bsarani
Because growing a business can sometimes be hard, the Lux Future Lab received last november, the entrepreneur, mentor and scale up performance coach, Jean-Marc Fandel from Scaleup Team.
Many startups reach a point where they actually dread adding another customer, employee or location. It feels like they are just adding more weight to an ever-heavier anchor they are dragging up the hill. To make matters worse, the increased revenues haven’t turned into more profitability, so at some point, they wonder if the journey is worth the effort. Isn’t it time for them to scale up? That’s what Jean-Marc Fandel explained us during his presentation : "any business can actively plan and shape its growth by adopting the right attitude and applying the right methods".
What does scale up means?
A scale up is a development-stage business, specific to high-technology markets, that is looking to grow in terms of market access, revenues, and number of employees, adding value by identifying and realizing win-win opportunities for collaboration with established companies.
"Scaling up focuses on the four major decisions every company must get right to unlock their potential value and grow in a healthy way : people, strategy, execution and cash" said Jean-Marc Fandel:
People: is everybody in the company able to sum up our strategy in a few words?
Strategy: which person from your team would you hire tomorrow?
Execution: do every process work easily without drama?
Cash: how many times did we reach our goals?
Why scaling up?
Finally by scaling up your company you are ensured :
that everybody has to same goal inside your company
to persuade easily the investors
to align the board and the team
to create process and habits enable to avoid daily dramas
to be ruled by your own strategy and not the urgence
to never run out of cash
How to scale up?
Anyone can launch a startup, but only a few turn into real scale up companies. Yet everybody can plan and shape its growth by adopting the right attitude and applying the right methods.
By scaling up you should able to answer these 7 fundamental questions:
Who are our customers?
What is united us?
Why do our customers buy our products/services?
Where will be the company in 10 years?
Why do we exist?
Where are we excellent?
What is our “catalytic” mechanism?
These seven points constitute the DNA of your company.
From these essential values, you can growth healthy and scale up. To regain the wonderful feeling of being completely in control of shaping your company and determining its future, Jean-Marc Fandel take you through the various aspects to achieve a successful scaling of your company - without drama.
At the end, after a few questions to know when it’s time to scale up for a startup, depending of curse of each situation, Jean-Marie introduced us to the famous indicator “Big Hairy Audacious Goal” meaning an high presumptuous objective for a company. This one enables you to align your team and gets everyone excited and is the only way your company will continue to grow with purpose and increase team spirit.
📎 As a conclusion, to prepare your startup to scale up, one solutions consists in consulting Jean-Marc Fandel and its scale up team and the other one is simply to read the book Scaling Up written by Verney Harnish, more than 40,000 enterprises worldwide are already using its methodology and tools.