What I Learned Managing 1800% Growth 1 This is for you If You have - - PowerPoint PPT Presentation

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What I Learned Managing 1800% Growth 1 This is for you If You have - - PowerPoint PPT Presentation

May 05, 2023 151 likes •864 views

What I Learned Managing 1800% Growth 1 This is for you If You have a fast growing company. You want a fast growing company. The Idea About TakeLessons About TakeLessons 1,257,000 lessons About TakeLessons Raised $20,000,000 In Venture

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What I Learned Managing 1800% Growth

1
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This is for you

If…

You have a fast growing company. You want a fast growing company.

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The Idea

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About TakeLessons

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About TakeLessons

1,257,000 lessons

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About TakeLessons

Raised $20,000,000 In Venture Capital

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SLIDE 7 2015 and beyond: Fitness, Sports, Advice, International 2014: Tutoring, Languages, On-Demand, Hobbies 2013 Music, Performing Arts (Local & Online) 2008-2012: Music 7

Giant Expansive Market Opportunity

New Verticals, Online Delivery, International Expansion increases market size $100 Billion $6 Billion $2 Billion $200 Billion+
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Disrupting the Lessons Market Airbnb, Uber, and OpenTable revolutionized their respective industries by making it easy to find, manage, and pay for services

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Disrupting the Lessons Market Airbnb, Uber, and OpenTable revolutionized their respective industries by making it easy to find, manage, and pay for services TakeLessons is transforming the $100 billion lessons industry in the same way

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2010

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Today

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I gained 22 pounds. Constant back pain. Panic attacks. I lost my relationship.

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What You’ll Learn Today The concepts that allow you to manage rapidly scaling your company… While staying calm.

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Less

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More…

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Less of this

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More of this

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Why?

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Jordan’s Law

“As a company doubles in size, the fundamental business systems that were responsible for the growth will break and will no longer be valid.”

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What got us to where we are, will not get us to where we’re going

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Systems Break Points

0% 100% 200% 300% 400% 500% 600% 700% 800% Yr 0 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Total Growth 15% growth 25% growth 50% growth
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Systems Break Points

0% 100% 200% 300% 400% 500% 600% 700% 800% Yr 0 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Total Growth 50% growth
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Systems Break Points

0% 100% 200% 300% 400% 500% 600% 700% 800% Yr 0 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Total Growth 50% growth
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About the Company

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Internal Facing

– Financial reporting and audit – Forecasting & Operational planning – OKR’s – IT/Technology – HR / Hiring – Internal team communication

External Facing

– Marketing automation – Sales automation – Customer support

The Processes That Will Break

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You don’t need to be

an expert…

You need to be great at

hiring expertise.

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Six Words

Easy, Easy, Easy and Automate, Automate, Automate

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  • Start early
  • Get as much as you can
  • Dumb money vs. smart money

Venture Capital Raising

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My incredible team just magically happened!

Said no one. Ever.

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  • 1. Hiring Systems
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Hiring Process must be well-planned and deliberate.

– Is your job description attracting the right candidates? – Consistent evaluation process. – Documented onboarding process.

Employees doing interviews must be crystal-clear on:

– What is expected in the job over the next 6-12 months – Necessary soft and hard skills – What is meant by “cultural fit”

The Hiring System

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  • 2. Scaling People
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Systems Break Points

0% 100% 200% 300% 400% 500% 600% 700% 800% Yr 0 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Total Growth

Different skill-set

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  • Not all early employees will scale.
  • Teach people early that it’s ok for people to go.
  • New mid-management –> chance of early

employee disengagement.

  • Your Key Job

Scaling People

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Your Key Job

Consistently evaluate the team. Identify when people hit their ceilings.

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Then

train them up

  • r

move them out.

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It’s painful

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Especially when you’re evaluating

yourself

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  • 3. Culture Matters
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Think nk Smart

TakeLessons Culture

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Why Do

  • We

e Car are? e?

It gives us the best chance

  • f continued success,

and it helps make work REWARDING & FULFILLING.

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Why y Do Do We e Ca Care? e?

The culture we set now will shape the company future forever.

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Think nk Smart

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Our Rea eason n for Bei eing ng

We are here to make a positive, lasting impact

  • n each person we come

in contact with.

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Think nk Smart

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4 Components of Moving Forward

  • 1. The Mission
  • 2. Our Envisioned Future
  • 3. BHAG’s
  • 4. Our Guiding Principles
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Our Mission: : What we’re working to accomplish.

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To be the top online marketplace where consumers find, vet, and buy learning services from quality providers.

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4 Components of Moving Forward

  • 1. The Mission
  • 2. Our Envisioned Future
  • 3. BHAG’s
  • 4. Our Guiding Principles
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Tak akeL eLes essons

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Da Daily Guidi ding ng Pr Princip ciples es

Delight the Customer Focus

  • n

Impact C.O.R.E.

Communication Be Open & Collaborative

Make Good Decisions Own the Outcome Stay Flexible

Congruent Words & Actions

Enjoy work and laugh!

Be Curious & Experiment
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Think nk Smart

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Think nk Sm Smart

We’re not a family

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We’re a team

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Think nk Smart

9 Traits We Admire in Teammates

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SLIDE 64 Results-Driven You are focused on the outcome. You focus on first things first and have a bias for speed and action. You get important results and put up great numbers. Personally Accountable You hold yourself responsible for both positive and negative outcomes. You have written goals and execute on them. You are self motivated. You spend the company’s money as if it were your own. Collaborative Team Player You have your teammates’ best interest at heart and help them win. You are transparent and never hide information that can help others. You seek the right answer, even if it’s not your own. You don’t talk behind teammates back. Good Judgment You are intelligent and make wise decisions. You balance gut feel with hard data to make sensible conclusions. You think and act strategically and can see the big picture. You are able to make hard decisions. High Integrity You are honest, with a strong moral compass. You make a promise and keep it. You earn your trust by being trustworthy. You are humble and modest, despite being so awesome. Hungry You have a strong work ethic. You are internally driven to get better, work harder, and win. You care deeply. You’re passionate about what you do. You are bold and take calculated risks. Flexible You have the ability to embrace change and quickly react to new information. You welcome change as a way to constantly learn and grow. You are willing to keep trying new things and ideas. Resilient You bounce back from the inevitable and
  • ccasional disappointments.
You are persistent and see things through to the end. You find a way to get things done. CORE Communication You are Candid and communicate the bad with the good without covering up the bad. You are OPEN towards your intent and speak your mind, while listening to others. You are RESPECTFUL and seek the right answer. You are EFFECTIVE in getting the right answer. We Want to Work with People Who Embody These Nine Values 64
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Think nk Smart

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Appoin pointed ted Cu Cultu ture e Ambas assador adors

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Let’s Stay in Touch! @steven_cox StevenCox.com @mstevencox /in/stevencox