Scaling success, understanding business growth cycles The Business Strategist

Would you like to know how to define what the next level is in your business? 
In this episode, Adam Strong is joined by Scott Ritzheimer, a master at defining the next level in business. Scott shares his experience of starting and scaling a multimillion-dollar business before the age of 35. He discusses the challenges faced during the growth stages and the importance of building a strong leadership team. The conversation focuses on identifying key questions and areas of focus for business owners, such as legacy, leadership, and decision-making. 

The episode concludes with a discussion on milestones in the business journey. In this conversation, Scott Ritzheimer discusses the different stages of a founder's journey and the challenges they face. He emphasises the importance of building an executive team and hiring a second-in-command to share the leadership burden. Scott identifies the founder's stage as a reluctant manager and highlights the need for alignment with this stage. 

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Takeaways

Building a strong leadership team is crucial for scaling a business.

Recognising the challenges of growth and understanding the different stages of the business lifecycle can help navigate the journey.

Legacy and vision play a significant role in shaping the future of a company.

Effective decision-making and focusing on key areas of the business are essential for success. Building an executive team and hiring a second-in-command can help founders share the leadership burden and drive growth.

Letting go of certain aspects of the business can create space for future success.


Chapters
00:00 Introduction and Excitement for the Show
01:21 Introducing Scott Ritzheimer and the Next Level
09:14 Discovering the Business Lifecycle Stages
12:04 Transforming the Business and Building a Leadership Team
14:02 Recognising the Challenges of Growth
19:33 Identifying Key Questions and Focus Areas
23:09 Focusing on Legacy and Leadership
24:36 Making Decisions for the Future
26:01 Vision for the Future of the Company
27:11 Milestones in the Business Journey
27:38 Building an Executive Team
28:14 Founder's Stage: Reluctant Manager
29:07 Alignment with Stage Three
30:25 The Importance of Focusing on the Right Things
32:11 Separating Defence from Offence
33:16 The Myth of Carrying the Whole Business
34:29 Bringing in a Second-in-Command
36:01 Choosing the Right Operator
37:04 The Temptation of Hiring a Business Partner
38:32 The Challenge of Diversified Approach
41:35 The Power of Visionary-Operator Combination
44:17 Letting Go to Create Space for Success
47:56 The Hardest Decisions: People and Letting Go
50:57 Scott's Current Work and The Founder's Evolution

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ABOUT THE GUEST
LinkedIn: https://www.linkedin.com/in/scottritzheimer/
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ABOUT THE HOST
LinkedIn: https://www.linkedin.com/in/adamistrong
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