Don’t bankrupt your company

Plus, how to retain your best employees in just 15 minutes a day ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  November 15th, 2021 The Memo | Issue #68 TOGETHER WITH Patience and focus can be your competitive advantage. There’s a lot of emphasis on “move fast and break things” in the business world today, but that isn’t always the best way. When Scalable CEO and cofounder Ryan Deiss’ first business stalled out, he panicked and almost bankrupted the company in the process. But much of business growth and success requires leaders who don’t panic. Leaders who patiently stay focused and [stick to a strategy for the long-term.]( Now, let’s dive in... 7 Questions Every CEO Should Ask Themselves When it comes to leadership, we firmly believe that having the right question is more valuable than having the right answers… So, in today’s video, Ryan is going to share the [7 questions that every CEO should ask of themselves]( and their team every 30 days. Trust us on this one… If you’re stuck, we promise that if you ask and answer all seven of these questions, you will get unstuck and start scaling again. [Watch here.]( Don’t Bankrupt Your Company “After several years of rapid growth and healthy profits, sales stalled and profits dried up—seemingly overnight. It didn’t really make sense. We were selling the exact same products to the same market, leveraging the same playbooks that had always worked. Nothing had changed, and yet...everything had changed.” In 2011, Scalable Founder and CEO, Ryan Deiss, was running his first company and things were going really well…until they weren’t. When a business starts to stall or plateau, it’s easy to blame yourself and feel like a failure. But plateaus are a part of the business lifecycle, and understanding what they mean and how to move past them is the key to building scalable growth. In this 11-minute video, Ryan shares [what he learned about the entrepreneurial lifecycle from almost bankrupting that first company]( along with the 5 phases of business growth and why panicking or giving up is the last thing you should do when business stalls. Related: Read the [full article on the entrepreneurial lifecycle]( Try Kartra For Just A Buck [Sponsored] The old way of thinking was you needed to stack tools to grow your business. But marketers quickly realized that’s unsustainable. Not to mention dangerous. One tech issue and your website implodes. Even Ryan Deiss said: "Almost everything that made you great during launch and growth will become a liability at scale." To grow, businesses had to spend months and thousands of dollars to hire designers, programmers, and marketing consultants to develop an in-house platform. It was nearly impossible to find a tool that could simplify, automate and grow your business at the same time...until today Kartra replaces more than 10+ software tools to make sales, scaling, and running an online business more simple. With Kartra, designing campaigns and funnels has never been easier. With only a few clicks, you can create fast and beautifully converting...landing pages, opt-in forms, sales pages, checkout pages, upsell pages, downsell pages… all the pages! PLUS you can connect it with Kartra's built-in email, lead management, and membership platforms where you can get behavior-based automations, intelligent split testing, high-converting templates, advanced list tagging & segmenting and end-to-end tracking… ...so you can easily create high-converting campaigns, maximize leads, and generate more sales. If you want to scale without facing all the tech headaches and costly mistakes... [Join Kartra for only $1 today]( 15 Minutes To Retain Your Best Employees “Your best people *are* being recruited. They’re being offered better titles, better pay, and the rush of being courted. If you’re not making them feel recognized and valued at your company, they will take one of these offers.” There’s been a lot of talk recently about “The Great Resignation.” Talented people are reevaluating their work in response to the upheaval of the COVID-19 pandemic. As a leader, how do you stop that from costing you your best employees? According to Eric Paley, serial founder and managing partner at Founder Collective, job satisfaction and fulfillment is a key part of why great employees leave—and you can make big strides in [retaining your best team members with just 15 minutes a day](. The secret? Show gratitude—frequently and proactively. In this quick 3-minute read, Eric explains why small gestures can have such a big impact on employee retention, all without costing a dime. Related: [How to respond when a key team member quits]( How To Hire A Head Of Growth “The largest properties on the Internet are driven off of just a few growth loops — SEO and inviting for Linkedin. Direct sales and product-led viral growth for most B2B collaboration apps. A lack of focus means that the startup is perpetually finding the next quick growth hack, rather than starting to build a system for repeatable growth.” At a certain stage of business—when you’re ready to scale—you need to hire someone whose sole responsibility is to create and manage growth: a Head of Growth. While the circumstances around when in the entrepreneurial lifecycle you’re ready for growth hire are similar, the skills and day-to-day responsibilities of the role will vary from one company to the next. So how do you know [what to look for when hiring a Head of Growth]( That’s a question Andrew Chen—founder, former growth leader for Uber, and current partner at Andreessen Horowitz—tackles in this comprehensive article. Andrew’s advice includes how to understand your business’ growth stage, what to look for from a Head of Growth at each stage, and some of the common mistakes he sees founders make in the process. Related: [The Scalable Hiring Process]( One Last Thing... Remember: don’t panic. - The Scalable Team --- We hope you enjoyed this week’s issue. If you did, could you do us a favor and share it with 3 friends and colleagues? It would mean the world to us. Thanks. :) Share The Memo Step 1: Click the button below Step 2: Share the Memo with friends Step 3: Earn Rewards Refer 3 friends and get listed on our site as a "Founding Subscriber," plus some mystery gifts we know you'll love... :) [Share The Memo]( Or copy & paste your referral link to share directly with others: What is The Memo (a.k.a. the thing you’re reading right now)? Every week, my partners and I send an email memo to our internal executive leaders (the people running our companies) sharing news and insights we believe they should know. Sometimes it's an interesting article...sometimes it's a new thought or idea...but it's always something timely, tactical, and actionable. Now, you can get the same memo... and you don't even have to sell us your company. 🙂 What is The Scalable Company? The Scalable Company is a collective of founders and entrepreneurs who have no idea what they’re doing, and are willing to admit it. You can read our “Accidental Entrepreneur Manifesto” [here]( and peruse our internal “wiki” of resources and best practices [here](.  Sent to: {EMAIL} The Scalable Company, 4330 Gaines Ranch Loop, Ste 120, Austin, Texas 78735, United States Don't want future emails? [Unsubscribe](