Entrepreneur Workshop Episode #2: Scaling a Business
becky passner
In episode 2 of Entrepreneur Workshop, Ken Auer of RoleModel Software and Reed Phillips of Knowledge Systems discuss scaling a business.
SHARE POST
“When I started RoleModel, I look back at those times and say, you know what, whether we ever make 100 million dollars or whatever, what I really want to have is the healthy culture.”
In the second episode of our Entrepreneur Workshop series, Ken Auer and Reed Philips discuss scaling a business. Check out their conversation below:
How Do You Scale?
Growing a business is challenging, and as you grow, more people may tell you what would be best for the company. Smaller companies can change things up frequently. As you grow, that gets harder to do. As you are scaling your business, it is important to focus on what you do best and stick to that. Reed recalled, "The more I took away things, the more I could focus, the more successful we were.”
Creating Guardrails and Metrics
When Ken started RoleModel Software, he was advised to pick four metrics for the company—and only one of them was allowed to be about money. Some of the metrics Ken discussed were the amount of time that he spent away from home and the kind of work he wanted to do.
“That other metric [time away from home] is more of having a healthy balance, and how to measure that, I’ve found over the years that’s changed.”
Building a Team
Entrepreneurs face the unique situation of needing to be experts in self-evaluation for the company's sake. Reed recalls that he struggled with his own capabilities; he found that the best way to manage it was to surround himself with people who helped sure up his shortcomings and gave him feedback about how he could grow for the sake of the organization. These people should help you understand:
Who you are
Which of your skills should you amplify
Which of your skills should you delegate
And help you challenge your assumptions or clarify your assumptions about the business
For Reed, the question he asked himself was: How do I either get coaching to help me grow, or how do I find a person to come in and fill that role that the company needs?