Launch of The Success Lab | Sunday Special | Show 3
In this Sunday special episode of The Inside BS Show, the "Godfather of Growth," Dave Lorenzo, is joined by Nicola Gelormino, also known as Nicki G. Unlike recent episodes where Dave hosted solo, Nicki G. provides a refreshing counterpoint, offering additional insights into their business venture.
The crux of the conversation revolves around a unique business community they've been developing named *The Success Lab*. This initiative aims to assist mid-market CEOs, specifically those leading companies with annual revenue between $5 million and $300-$400 million. The main challenge these CEOs face is dividing their time between working *on* their business (strategic planning, growth, etc.) and working *in* their business (daily operations, firefighting, etc.).
Dave explains the philosophy behind *The Success Lab*. At its core, it's about preparing CEOs for their eventual exit from their business. Whether this means selling the company, merging with a strategic partner, or aiming for other types of acquisition, the idea is to provide these CEOs with a roadmap for the future. By asking CEOs about their exit strategies, Dave discovered a considerable knowledge gap. Many CEOs, while experts in their domains haven't thought enough about how to position their businesses for an eventual sale or handover.
The Success Lab also aims to be a one-stop resource for CEOs. In addition to goal-setting and accountability, it provides access to subject matter experts from various fields. For instance, CEOs can learn how to make their business more appealing to family offices, understand the intricacies of transitioning businesses to the next generation, or even get advice on litigation matters without immediately hiring an attorney.
A significant part of their strategy is to bring professionals on board as beta testers. These professionals, drawn from high net worth spaces, are treated as if they were CEOs. Their double role is to help refine *The Success Lab's* offerings and get acquainted with its teachings. The objective is to have a balance – approximately a five-to-one ratio of CEOs to subject matter experts.
Nicola shares her observations from their initial pitch to professionals, noting the palpable excitement and interest in *The Success Lab*. She then steers the conversation towards understanding the origins of this initiative, prompting Dave to share an illustrative story about a telescope manufacturer in Michigan. This CEO, brilliant at crafting telescopes, had never considered how his business would fit into a bigger picture or who might be interested in acquiring it.
In essence, the episode underscores the importance of strategic planning for mid-market CEOs, the value *The Success Lab* brings to these business leaders, and the journey Dave and Nicola have embarked upon to bring this vision to life. Regular episodes of *The Inside BS Show* air Monday through Friday.
The crux of the conversation revolves around a unique business community they've been developing named *The Success Lab*. This initiative aims to assist mid-market CEOs, specifically those leading companies with annual revenue between $5 million and $300-$400 million. The main challenge these CEOs face is dividing their time between working *on* their business (strategic planning, growth, etc.) and working *in* their business (daily operations, firefighting, etc.).
Dave explains the philosophy behind *The Success Lab*. At its core, it's about preparing CEOs for their eventual exit from their business. Whether this means selling the company, merging with a strategic partner, or aiming for other types of acquisition, the idea is to provide these CEOs with a roadmap for the future. By asking CEOs about their exit strategies, Dave discovered a considerable knowledge gap. Many CEOs, while experts in their domains haven't thought enough about how to position their businesses for an eventual sale or handover.
The Success Lab also aims to be a one-stop resource for CEOs. In addition to goal-setting and accountability, it provides access to subject matter experts from various fields. For instance, CEOs can learn how to make their business more appealing to family offices, understand the intricacies of transitioning businesses to the next generation, or even get advice on litigation matters without immediately hiring an attorney.
A significant part of their strategy is to bring professionals on board as beta testers. These professionals, drawn from high net worth spaces, are treated as if they were CEOs. Their double role is to help refine *The Success Lab's* offerings and get acquainted with its teachings. The objective is to have a balance – approximately a five-to-one ratio of CEOs to subject matter experts.
Nicola shares her observations from their initial pitch to professionals, noting the palpable excitement and interest in *The Success Lab*. She then steers the conversation towards understanding the origins of this initiative, prompting Dave to share an illustrative story about a telescope manufacturer in Michigan. This CEO, brilliant at crafting telescopes, had never considered how his business would fit into a bigger picture or who might be interested in acquiring it.
In essence, the episode underscores the importance of strategic planning for mid-market CEOs, the value *The Success Lab* brings to these business leaders, and the journey Dave and Nicola have embarked upon to bring this vision to life. Regular episodes of *The Inside BS Show* air Monday through Friday.