Scaling up with Growth Institute with Daniel Marcos
Our guest for this week is Daniel Marcos, a serial entrepreneur, blogger, CEO coach, and the co-founder and CEO of “Growth Institute”.
Daniel’s vast experience in entrepreneurship has enabled him with precious insights about starting and growing a company. He recognized the role of the CEO as an essential but also a potentially limiting factor when scaling your company. That is why he is determined to help other entrepreneurs get to the next step in their business. Daniel's mission is to empower executives to become better leaders, all the while teaching them how to successfully scale their companies and maintain a high quality of life.
In 2012, Daniel co-founded the “Growth Institute”, which is the leading online executive education company for C-level executives at fast-growing firms. They offer online training resources accommodated to mid-market companies with the goal of providing them the necessary structure and support to grow their business.
Daniel is also an esteemed blogger in the entrepreneurship world. You can check out some of his top tips for becoming a successful entrepreneur by visiting his website!
Connect with Daniel:
- Facebook: https://www.facebook.com/daniel.marcos
- Twitter: https://twitter.com/CapitalEmprende
- LinkedIn: https://www.linkedin.com/in/danielmarcos
- Website: https://www.danielmarcos.co/
In This Episode We Canvas:
- Work-Life Balance Challenges of Entrepreneurs
One of the main reasons Daniel has made it his mission to help entrepreneurs is because he has experienced first hand all the potential hardships that come with owning a business. Personal lives and family time are always one of the first aspects of an entrepreneur’s life that suffer whenever a company is going through a challenging period.
“It’s very often, when you’re scaling, your family life gets into trouble… You’re tired, you’re overworked and you bring all of that drama to your family.” - Daniel Marcos
- The ‘Freedom Paradox’ of Entrepreneurship
Based on the insights from his coaching career, Daniel suggests that one of the main reasons why people prefer running their own business is because it gives them more freedom. Paradoxically enough, in real-life cases, Daniel argues that the process of building a company goes directly against that notion.
“When you ask any entrepreneur why are they building a company… you always come to one word - freedom. Usually, when you build a company, the one thing that you lose the most is freedom.” - Daniel Marcos
- The Benefits of Basing Your Business Strategy on Data
In this section of our conversation, Daniel provides arguments and explains why basing your company strategy on data is essential for the success of any business. We explore all the ways in which your company benefits from utilizing a data-driven approach.
“Whenever you have data and you produce data in your company, you cannot hide from data. Data tells you the truth!” - Daniel Marcos
- How to Give Negative Feedback
The role of every CEO requires the ability to provide their staff with information and instructions on what needs to be improved or done differently. Daniel shares his thoughts on what you should and shouldn’t do when providing others with negative feedback.
“You attack the outcome or the situation, you don’t attack the person.” - Daniel Marcos
- The Key Stages of Company Growth
As we explore the topic of scaling up further, Daniel proposes a 4-stage model for analyzing and understanding the different growth periods of any company.
“I call them the Startup, the Grow up, the Scale-up and then you Dominate your industry.” - Daniel Marcos
- The Ideal Role Every CEO Should Strive Towards
The role of the CEO changes over time and we go a little deeper into what that role should look like at the fourth and final stage of company development.
“The role in the last stage… You become like a satellite around your organization and the day-to-day runs without you… You come as the strategic innovator, change catalyst, and chief of culture.” - Daniel Marcos
- The Importance of Having the Right Team
As we near the end of our conversation, Daniel takes us into the 4 most important decisions every CEO needs to make. The key element you need to establish before scaling your business is to assemble the right team of professionals that will help your business grow.
“If you don’t have the right team, it’s impossible to scale your company. You can have all the money in the world, you can have the best strategy… If you don’t have the right team - nothing works!” - Daniel Marcos
- Why Drops in Revenue are a Symptom, Not a Sickness
In terms of developing a business, Daniel considers “cash” to be a great source of data which indicates whether or not you’ve made the right decisions along the way. If you’ve made any mistakes in the previous steps, they will surely be reflected in your revenue and profits.
“Cash is a symptom. Cash is not a sickness… Cash is not a problem. Cash is a reflection of your problems.” - Daniel Marcos
Daniel’s Message of Inspired Evolution
I’ve really enjoyed the way our conversation turned out to be an hour-long masterclass on business scaling and growth. Daniel’s vast experience colors every single topic we’ve touched on and provides sustenance to his theories and arguments. The most inspiring note of his coaching approach seems to be the proactive attitude that Daniel both owns and instills in others. Being a good leader means you’re able to take action and there’s a lot you can do to ensure your business will be able to compete, grow, and improve over time.
“Don’t just do a company. Do a great company! Play to win, don’t play not to lose. Do it right!” - Daniel Marcos