Own The Exit

Navigating the Challenges of Business Growth

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This episode of Own the Exit focuses on navigating challenges as your business grows, with a specific emphasis on the complex art of communication. The conversation highlights the importance of communication in a growing business and the challenges that arise when adding more team members. The four keys to successfully managing communication in a growing company are: 1) the rule of three and ten, 2) staying in your lane as a leader, 3) building the right team based on alignment of values, and 4) implementing SOPs, technology, and reporting to streamline communication.


TAKEAWAYS

  • Communication is a major challenge when a business is growing, as adding more team members creates complexity rather than efficiency.
  • The rule of three and ten helps forecast and prepare for adjustments in communication processes as the company grows.
  • Knowing your strengths and weaknesses as a leader allows for effective delegation and trust-building within the team.
  • Building the right team starts with prioritizing values and company culture, as a strong culture leads to efficient communication.
  • Implementing SOPs, technology, and reporting helps manage communication and streamline tasks in a growing company.


    • RESOURCES MENTIONED

    • Brooks Law
    • Dave Ramsey's approach to company culture
    • Communication tools: Email, Slack, Asana


      • FOLLOWS

      Caleb Investing⁠

      ⁠⁠Aaron Investing


      CHAPTERS

      1:00 Navigating Communication Challenges in Growing Businesses 

      3:24 The Complexity of Team Communication and Growth 

      5:50 Key #1: The Rule of Three and Ten 

      8:13 Adjusting Management Protocols as Your Team Grows 

      10:18 The Importance of Delegation and Trust 

      12:44 Building Trust Through Self-Awareness and Delegation 

      15:07 The Impact of Trust on Team Morale and Communication 

      17:37 Key #2: Building the Right Team with Aligned Values 

      19:50 Prioritizing Values Over Skills in Hiring 

      22:13 Key #3: Implementing SOPs, Technology, and Reporting 

      24:27 Effective Communication Tools and Processes 

      26:43 Recap: Four Keys to Navigating Communication Challenges


      KEYWORDS

      business growth, communication challenges, team building, values alignment, SOPs, technology, reporting


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      Own The ExitBy Caleb Edwards and Aaron Leatherdale
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