Scaling success, understanding business growth cycles

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.  [Final Week] Join Our £5.8K-£25K/yr Mastermind at ZERO Cost! (Exclusive to 3 Visionaries Only!) Join our waitlist here for early access to our next cohort: https://bit.ly/business-mastermind-waitlist 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 🙏 How To Support The Business Strategist 🎙️ Subscribe, listen and leave a review on 👉 Apple, Spotify Help us to make a bigger impact by buying me a cup of tea 👉 https://www.buymeacoffee.com/thebusinessstrategist Tag us and share the show with your network ABOUT THE GUEST LinkedIn: https://www.linkedin.com/in/scottritzheimer/ Instagram: https://www.instagram.com/scottritzheimer/ YouTube: https://www.youtube.com/@Scale_Architects Facebook: https://www.fb.com/scott.ritzheimer.official Twitter: https://www.twitter.com/scottritzheimer Free digital copy of my book https://www.scalearchitects.com/founders ABOUT THE HOST LinkedIn: https://www.linkedin.com/in/adamistrong Have you got a plan for scale in 2024? If not, take the business growth quiz here: https://howtogrowabusiness.scoreapp.com Get early access to the game changers inner circle business mastermind go to https://bit.ly/business-mastermind-waitlist for more info Learn more about your ad choices. Visit megaphone.fm/adchoices