Notes From #ScaleupIndo Conference
February 04, 2015
Attended #ScaleupIndo conference yesterday which was organized by Endeavor Indonesia. This was the second time they organized #ScaleupIndo. Last year was around February as well and I remember there were so many take aways from that day. One thing that really stuck in me was the GROW or GONE message. Thank God that now, a year later, I can safely say that Alhamdulillah, we are growing :)
The session was opened by Raoul Oberman (not the one in the picture, that is Chris Zook), my #1 mentor, one of my biggest supporters I'm so thankful to have his presence in my life. Things that he briefly mentioned yesterday:
- 5 Mega-trends reshaping the global economy: The rise of emerging markets (Asian company made it to 500 Fortunes company has doubled), Aging populations, The Digital Age, Resource Scarcity, The Market State.
- Laeaders have tougher job than ever. In order to survive, leaders have to be: Ready for 'trend breaks', Tri-Sector Athelete (government, civil society & the business), Receptor and Connector, Equipped with Strong Sense of purpose, Calmed in the eye of the hurricane, Always ON, Marathoners & a Sprinter, Telescope and Microscope
Since it was about Scaling Up your business, there were a lot of talks about taking your company to the next level and unleashing it for exponential growth. Sustaining profitable growth is a lot harder than just creating a startup, and 85% barriers are internal! Normal things that happen to a company ready for scale up:
- Pressure! There's certainly pressure in the air, people are more demanding, target is increasing. We no longer run the company as it grows.
- Complexity! There's 'department' now so there's more bureaucracy. Decision takes longer. They say complexity is the silent killer of growth. The key is to keep it simple, make people accountable and OWN that department while maintaing the high standard and quality.
- Metrics & Rituals! As jobs need to be delegated, we need to define metrics & KPI and making sure both side understand the expectation. We also need to evaluate regularly.
- People Resigning! And this is not a bad a thing because a lot of the times, regeneration is needed. It's normal if people who are the early team members are not comfortable with the changes, with the new target, new rules, new direction and the new system that's being implemented. Growing company needs different skillset that maybe you can't find in them. Maybe they feel they have outgrown you or maybe it's the company that has outgrown the people.
- A lot of new hire! We need to keep them in line with company's values and culture. And when it comes to hiring, never ever settle for less. If your team member are not smarter than you are than you need to raise your standard.
Lots of work to do, right? To wrap it up, scaling up is about understanding your customers. Businesses need to have speed as competitive weapon and founders need to have coachable mentality. Lots of work to do, right?
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