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EP07: How Massive Success Can Lead to Imminent Failure
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In this episode, Matthew Bergvinson and Lucas Ng explore how success can often be a double-edged sword. It looks at the warning signs of failure and provides advice on how you can navigate the challenges of scaling your business.
Key Takeaways:
• Recognize that success can often be a double-edged sword
• Understand the warning signs of failure and be proactive in addressing them
• Celebrate successes, but also roll up your sleeves and get to work fixing the problems
• Empower new team members with autonomy and trust, allowing you to focus on working on the business rather than “in” it
Timestamps:
01:03 - This is for businesses under $10 million in value
01:34 - An example of a CEO that has difficulty letting go
08:50 - CEOs sometimes feel trapped
09:53 - The help of Consultants
11:07 - CEOs find it hard to trust people
12:42 - The rule of thumb to use to determine whether your business has difficulty expanding
13:44 - The beauty of cataloging
14:36 - Don’t overstress your people
17:33 - The Farmville concept endures
20:06 - Capturing feedback and iterating are important
22:02 - Take time to dig the foundation
23:31 - Automate
24:50 - Do a regular audit
29:06 - Another example of a business with massive success that has difficulty
32:52 - We can help
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Do you know how most businesses are missing the leverage points that increase enterprise value by 15X? We fix that.
👉 https://www.vigilanteconsulting.com/
Get in touch with Matthew and Lukas.
Matthew Bergvinson: https://www.linkedin.com/in/mbergvinson/
Lukas Ng: https://www.linkedin.com/in/lukas-ng/
Vigilante Holdings: https://www.linkedin.com/company/vigilante-holdings/
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