(2023-11-11) The10x Exercise For Entrepreneurs
David Cummings: The 10x Exercise for Entrepreneurs. Once an entrepreneur has gained some traction, product-market fit, and the beginnings of a repeatable customer acquisition process, one of my favorite exercises for them is the 10X scale.
Some questions to ask when doing the 10X exercise:
What does our employee org chart look like with ten times the scale?
What will our customer mix look like at ten times the revenue?
What types of funding sources and capital stack will I need to fund the growth of the business to achieve this scale?
When you start looking out at 10X the scale, you might realize that we need more internal management programs, more focus on employee development, and more emphasis on developing our internal skills so that our employees can grow as fast as the business grows.