Summary: Scale - BusinessNews Publishing - ebook

Summary: Scale ebook

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The must-read summary of Jeff Hoffman and David Finkel's book: "Scale: Seven Proven Principles to Grow Your Business and Get Your Life Back".This complete summary of the ideas from Jeff Hoffman and David Finkel's book "Scale" shows that budding entrepreneurs must build their business the right way in order to succeed. To do this, they must reduce the company's reliance on themselves so that the business can grow and eventually be sold. This is what takes an entrepreneur from simply being self-employed to owning a scalable business with multiple employees. The authors explain that scaling a business consists of seven key principles which are split into four phases from building a solid foundation to learning to manage your time. This summary will take you through each principle and help you to create a strategic plan to grow your business while still managing your own time. Added-value of this summary: • Save time• Understand the key concepts• Increase your business knowledge To learn more, read "Scale" and discover how you can grow your business and still have time to yourself.

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Book Presentation: Scale by Jeff Hoffman and David Finkel

Summary of Scale (Hoffman and David Finkel)

Book Presentation: Scale by Jeff Hoffman and David Finkel

Book Abstract

MAIN IDEA

Loads of people are today getting the entrepreneurial bug and starting their own businesses. That's all well and good if you decide to take the plunge but if you're not careful, all you can end up doing is creating a job for yourself rather than a business that you can grow and one day sell.

To move beyond self-employment, you have to build a scalable business the right way. You do this by radically reducing the company's reliance on you, the owner. Scaling a business usually involves seven key principles, spread over four phases:

Phase 1. Build a solid foundation for growing your business

Build a business, not a jobSystems, team & controlsUnderstand your customers

Phase 2. Identify the key leverage points for driving growth

Have a solid strategic planBe good at looking ahead

Phase 3. Overcome the most predictable obstacles

Remove any and all obstacles

Phase 4. Learn how to leverage and manage your time better

Understand you do have time

About the Author

JEFF HOFFMAN is a serial entrepreneur and motivational speaker. He was a co-founder of multiple startups including Priceline.com, uBid.com, CTI, ColorJar and others. He has also been successful as a Hollywood film producer and event promoter. Jeff Hoffman is a graduate of Yale University and is frequently a featured business expert on Fox News and CNN as well as in Bloomberg News, the Wall Street Journal, Fast Company and many more publications.

DAVID FINKEL is CEO and founder of Maui Mastermind, a business coaching company. He is an ex-Olympic level athlete and the author or co-author of 11 books including The Real Estate Fast Track and The Maui Millionaires. Over the past twenty years, he has helped people start, scale and sell companies which have more than $2 billion in market value. He is a graduate of the University of California, San Diego.

The Web site for this book is at www.ScaleYourBusinessToolkit.com.

Important Note About This Ebook

This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, view points and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.

Summary of Scale (Hoffman and David Finkel)

Phase 1. Build a solid foundation for growing your business

To scale your company and reduce its reliance on your input and efforts, you first have to build a solid foundation. The best way to do that is to understand the context of your company – the market you serve, who you compete against and where you want to be positioned in the marketplace. Understand this and you get clues on how to grow.

1. Build a business, not a job

Most people assume to grow their business, they have to work harder. That's incorrect. If you go down that path, you have put a limit on how big your business can grow. Instead, you should be focusing on building a business which can operate well whether you're on the job or not. Be more concerned with building a business rather than creating a great job for yourself.

All successful companies go through three predictable stages of development:

When you're in Level 1, you're busy designing your start-up and planning what to do. You put together your start-up team, write a business plan and raise the start-up capital required. Your focus here is to get immediate market feedback on what you plan to sell so you know if your idea is viable.