Secrets of scaling, from CEOs of the fastest-growing businesses around

In Season 6 of the Impact Multiplier CEO Podcast, which we entitled “Secrets of Scaling”, I interviewed the CEOs of some of the fastest-growing businesses in Europe and America, as measured by the Financial Times in their 2021 rankings. 

I wanted to find out how they led their firms to such exceptional growth, what they’d learned along the way, and how they managed such acceleration on a personal level.

Here are ten important lessons that emerged from those interviews. I highly recommend you listen in to the full podcast episodes, as you’ll get a real glimpse into the inside story of some incredible business successes.

1 - Structural changes yield big results. Matthijs Welle (CEO of Mews Systems) found that a few structural shifts - such as the counterintuitive relocation of their corporate headquarters to a different country - released a new wave of investment and growth that helps Mews become Europe’s 21st fastest-growing company. What are the big moves for you that will make everything else easier?

2 - Embrace a portfolio approach. Jonathan Satchell scaled Learning Technologies Group from £8M to £190M by refining a formula that’s successfully delivered 17 acquisitions. He retains a portfolio of ten operating businesses, which drastically reduces the volatility of the business. How can you run your organisation as a portfolio instead of a monolith?

3 - Stop innovating and start strategising. Konrad Weiske built Europe's 5th fastest-growing company, Spyrosoft, by deciding NOT to innovate on the offering. Instead, they made smart marketing choices that put them in a "blue ocean" with little competition. How can you sharpen your positioning and marketing strategy instead of adding even more features to your offer?

4 - Don’t overthink. Try it. Modestas Sudnius (CEO of Eleving Group) entered enter 10 very different markets in under 3 years and built one of Europe’s fastest growing businesses with a simple decentralised strategy. As he put it, “I’d rather lose money in trial-and-error than lose money in bureaucracy.” How can you embrace the chaos of experimentation just a little bit more?

5 - Growth and scaling aren’t the same. Octopus Energy created a $2B business in just 5 years and became the 23rd fastest-growing company in Europe. They have a simple distinction between growth and scaling - and you need to know when to do which. Where do you want to grow, and what are you in a position to scale?

6 - Find ways to preserve simplicity. Rob van den Heuvel, CEO of Sendcloud, rode 70% annual growth over several years to become Europe’s #1 e-commerce shipping platform. They’ve been able to successfully enter multiple markets without the complexity of growing the number of offices. How can you keep things simple, right now?

7 - High salaries create weak teams. Janus Nielsen (CEO of AnyTech365), Europe's 27th fastest growing company, explained that paying top-notch salaries ended up weakening the team - because people were more concerned about the money than the mission. How are you going to make sure people get on board for the mission, not just the money?

8- Your customers are your best salesforce. Ian Jackson is the CEO and Co-Founder of Enshored, America's 106th fastest growing company, which delivers tailored outsourcing solutions to disruptive startups. By serving every customer, no matter their size, with 100% devotion they’ve built a business where 40% of sales still come from word-of-mouth referral. How can you absolutely astonish your customers?

9 - Your breakthrough idea might be closer than you think. Rohit Arora is the CEO of Biz2Credit, which develops digital platform solutions for financial institutions. Rohit found his breakthrough business idea by looking "close to home” and spotting unserved financing needs amongst business owners amongst his local immigrant community. What communities do you have unique access to, and what needs do they have?

10 - Take time upfront to build the vision. André Prado, CEO of BBM Logística, created 500% growth in 4 years which is an incredible achievement for a logistics business making 15M deliveries and shipping 12M tonnes of material each year. He slowed down at the start to get all the stakeholders aligned about what the business could achieve, which meant that it was much easier to then drive execution. How compelling is your vision, and is everyone aligned around what it will take to deliver it?

We’ll be revisiting ‘Secrets of Scaling’ next year, as the next rankings are published.

For now, if you’re interested in further insights about creating exponential success, why not check out this article about Exponential Leadership Principles?