There are countless options out there to help businesses grow. Do we really need another one?
It would appear so.
Even though there are lots of resources, content and more, dedicated to encouraging growth and success, we have less and less of that growth and success. Perhaps it’s because popular culture has such an emphasis on VC, and not on customer-fueled growth.
While the popular theory is that we are in a magical age of startups, the reality is that we are at historic lows for new business creation, and the failure rate of the businesses that do get created remains roughly the same as it was even during the nadir of the Great Recession.
This is acutely true for Millennials. For whatever reason, the variety of tools to help them turn ideas and small businesses into growing, interesting companies simply are not doing the trick.
So, yes, we do need something new, but what?
What is the 10X Growth Club?
Inspired in part by the club that Alexander Hamilton founded when he was an undergraduate, this is how this club will work:
- Two meetings a month.
• The first meeting will follow a strict format for exploring, refining, setting and then reaching growth goals.
• The second will be social and unstructured, but with plenty of opportunity to work with the members of this unique club to encourage and foster growth.
- The entire duration of the club will be 18 months. Everything about the group will be structured so that you will set highly individual (and very high) goals and then reach those goals for 10X growth in 18 months. It will be up to the group if it wants to reform in some other manner at the end of 18 months.
- Investment in this club will be in the ballpark of $750-$1000 per month.
• Some of that will go to covering expenses.
• Another portion will go to sponsoring some high-potential prospects in the club.
• A large chunk will be held in escrow for successful club participants to jointly decide what to do with it at the end.Mostly the money is a tangible commitment to the cause of dramatically growing a business so much that this fee will seem trivial after just a few of the 18 months.
- There will be one book set as required reading each month.
The first will be Alexander Hamilton’s Guide To Life by Jeff Wilser.
Most of the rest of the books will be more traditional business books, but to start off the 18 sessions we’ll begin by reading a fun, short book about the man who was perhaps better than any other at seeing a vision of what the world could be, and then working to create that world.
We now get to live in that world, and the greatest way to honor those who built that world is to succeed at creating meaningful growth.
- A Slack Channel exclusively for members of this club designed to be eminently useful while remaining free from distraction.
What the 10X Growth Club is Not
Here’s a quick look at the landscape out there now:
Just in Denver, there are dozens of great Meetups, forums, mastermind groups, keiretsus, juntos, related to small business, sales, startups, etc.
While they are fun, and can be great for networking, they are typically show-and-tell sessions that are not designed as peer-to-peer groups with high trust and specific accountability of the members to each other.
Peer Advisory Groups
- In spite of the “Y” for young in the YPO, (and the former “Y” before it was dropped from “EO”) those organizations are largely made up of people who have had some pretty good success. While they talk a lot about mentoring younger people, they don’t really seem interested in changing their own models to work in the ways that Millennials like to work. They also are deeply rooted in business practices that are quickly becoming out-of-date.
- Those organizations, understandably, have at their core a desire to continue as organizations. 10X Growth Club is a time-limited group that will automatically self-destruct 18 months after it begins.
- The goals of those groups are designed to be flexible enough so that all kinds of people can find all kinds of satisfaction from being in those groups, which is fine, but different from 10X Growth Club. They do not have the singular focus of key-metric growth in a time-limited period.
An alternative to joining a group is for business leaders to hire an individual coach. This is certainly a viable option, and like the others can work in conjunction with 10X Growth Club, but it is different.
The best executive coaching is designed to unlock the potential in each individual to reach the maximum satisfaction and success for that individual. The goals are deeply personal, as is the coaching. 10X Growth Club is only about growing business.
While coaching works well to help individuals meet individual goals, there’s nothing stronger than a high-trust group of peers to help keep each other accountable to pre-defined business goals.
There’s certainly no shortage of educational opportunities. Higher education will be with us, always, and there’s a strong new crop of training coming from online outlets like the Kahn Academy and in-person from places like General Assembly and Galvanize.
At their core, however, they are all one-to-many methods of information dissemination. That’s great for what it is, but they are not built from the ground up to help you grow your business.
Who are you?
- The founder or CEO of a startup in a growing market.
- The majority owner of a business that may not be a startup, but is in a market in which dramatic growth is possible. Sorry, but no retail shops, no solopreneurs, and no individual consultants.
- The leader of a business unit, but only if you have very high autonomy with no limits on changes you can implement on a monthly basis, and you are in a growing market. Sorry, but managers at large Oil and Gas companies need not apply.
- A person who believes in commerce. This may seem tautological for such a group, but it eliminates two distinct groups:
- Nonprofits — With the possible exception of a nonprofit that wants to grow by providing more services without increasing donations, the process of asking donors for money is very different from asking customers to pay, so it’s unlikely any nonprofit leader will be a fit for this club.
- Those seeking VC — Popular culture is infatuated with thinking that VC money is the only way to grow fast. 10X Growth Club doesn’t believe that, and if your philosophy is that you want to grow fast by getting VC, you probably aren’t a fit. If you’ve taken VC already, you’ll have to show us how you plan to grow with customers and sales, not endless new rounds of funding.
Who are we?
We come from a wide network of people who’ve done really well, but to start we are a group of two:
- Philip Lima is the founder and CEO of Mashey and has worked from within to grow startups, new business divisions, and internal teams within large organizations, before eventually founding his own company. After recognizing a lack of enablement for new founders and their hunger for practical directive, he decided to start 10x Growth Club to help startup founders discover how to grow their business through brainpower, strategic direction and persistence.
- Scott Yates started and sold two fast-growth startups, and then after writing a book started a third company, BlogMutt. Last year he decided to step away from daily operations and hired a new CEO, but remains as board chairman. He will facilitate the meetings, and will lead the curriculum team. He lives in Denver with his wife, son, mutt, and dictionary collection. In his spare time he’s trying to fix Daylight Saving Time.
Right now the 10X Growth Club is owned by Philip. Together with you, we will be iterating on the best structure as we move along. All the while, there will be a high level of transparency about structure, costs, governance, etc.
You will be creating this reality for the group, and in turn the group will create a reality for you of dramatically growing your key metrics.
Want to know more?
Contact one of the three of us directly, or via the person that sent this to you.
Also, save the date of July 13th at 6 p.m. Details for the meeting will come to you privately.