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Summary
In this virtual episode of Startup Junkies, hosts Caleb Talley, Daniel Koonce, and Jeff Amerine chat with serial entrepreneur and founder of Growth Readiness, Todd Westra, about what it means to be “growth ready.” Drawing from his experience interviewing two-hundred and fifty CEOs in thirteen weeks, Westra identifies recurring themes in business growth, particularly the importance of people, processes, and tools. He uses the analogy of SpaceX rockets to explain the difference between launching a business and scaling it, emphasizing the need to transition from what got the business into orbit to focusing on what needs to happen in orbit.
Moreover, Westra introduces his growth readiness framework, which consists of four stages of transition and three growth checkpoints in each stage. He highlights common growth blockers, such as financial fluency, understanding cash flow, and managing expenses. Westra also stresses the importance of client profiling, simplifying deliverables, and being less emotionally connected to the product to achieve scalability and efficiency.
Throughout the episode, Todd talks about his previous business ventures, his current business, Growth Readiness, and how to grow and scale your business, including crafting an exit strategy. Tune in to this episode to learn about Todd’s Orbit Framework and Growth Readiness Assessment so you can identify what might be holding your company back from real growth!
Show Notes
(0:00) Introduction
(1:04) About Todd
(7:12) The Four Stages of “Launch Transition”
(16:18) Challenges That Can Inhibit Growth
(22:22) Scaling a Trust Based Business
(27:38) Crafting an Exit Strategy
(33:13) Advice to Younger Self
(34:54) Closing Question
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