Hey, want to know the secret of how the big dogs scale their businesses?
Thanks to 10 years of deep research conducted by Charles Fred and his team at TrueSpace, for the first time, we have the science and the data to understand the operating conditions necessary to scale a business to 7 figures and beyond.
Predictability is one of these essential operating conditions.
Chronic inconsistency in forecasting accuracy is a key reason why businesses fail. When you miss forecasts, you risk running through your capital without results. Of the firms TrueSpace followed in their research, 90% consistently over-estimated, over-projected, and failed to achieve sustained growth.
To build a predictable business that can sustain consistent growth, you have to establish key performance indicators across the business and constantly test and improve the quality of your assumptions. If you build a measurement culture, you will increase the value of your company.
Charles Fred is returning to Founded in FoCo to teach how to build a predictable enterprise.
Key takeaways from this session:
- How to build a measurement culture
- Establishing key objectives for each aspect of the business
- Using feedback to improve the quality of your assumptions and the accuracy of forecasts
Charles Fred, Chairman & CEO of TrueSpace, shares insights on the operating conditions for building a business informed by their multi-year study of sustainable growth in businesses with $2 to $10 million in revenue. The methods, tools and capital instruments of TrueSpace all tie back to the research which identified the Five Operating Conditions necessary for small businesses to reach the middle market. An
ethnographic research method was used to immerse the TrueSpace team into the daily working environments of businesses. The study, through a partnership with Gallup, now extends to over 4000 businesses across the U.S.
