When Bill realized he was overleveraged in his business to the point the bank was going to take his house, he freaked out. He was afraid he’d lose everything, including his wife, and he’d become a weekend dad.

 

He decided to go to his team for help. His speech was messy. He admitted he didn’t know how to fix it or turn it around, but he was honest and transparent. He told the truth.

 

What happened? Well, a year later, not only did he turn things around, the bank was no longer going to take his home. He and his team redesigned the business and they doubled the company in that time. They collaborated together.

 

Tell the brutal truth. Don’t hide or coddle your people from the pending disaster uphead. You’ll be surprised what they come up with.

 

Resources:

Scaling Up Workshop: Interested in attending one of our workshops? We have a few $100 discounts for our loyal podcast listeners!Scaling Up for Business Growth Workshop: Take the first step to mastering the Rockefeller Habits by attending one of our workshops.

Scaling Up Summits (Select Bill Gallagher as your coach during registration for a discount.)

Bill on YouTube

 

Did you enjoy today’s episode? If so, then head over to iTunes and leave a review. Help other business leaders discover the Scaling Up Business Podcast so they, too, can benefit from the ideas shared in these podcasts.

 

Scaling Up is the best-selling book by Verne Harnish and our team for Gazelles Coaching, on how the fastest-growing companies succeed where so many others fail. My name is Bill Gallagher, host of the Scaling Up Business Podcast and a leading Gazelles Coach. Gazelles is the term we use for fast-growing companies.

 

We help leadership teams with 4 Decisions around People, Strategy, Execution, and Cash so that they can Scale Up successfully and beat the odds of business growth success. Scaling Up for Gazelles companies is based on the Rockefeller Habits 2.0 (from Verne’s original best-selling business book, Mastering the Rockefeller Habits).