#152: Scaling from 0 to $170 Million with a 40 Hour Work YEAR

Scott Fritz is the author of The 40 Hour Work YEAR, a short read about his POD model. Scott gives talks on his method of exiting a business that is both beneficial to you and healthier for the business. He shares the triggering events that led to this life-changing system. Some would say Scott’s story is impossible but his approach is logical and actionable. If you are considering exiting your company but you are too tied up in it to make it a reality, Scott has a method that you really need to know.

What you will learn:

• Scott’s presentation Transition, Position, Acquisition.
• Why he wrote The 40 Hour Work YEAR.
• Scott’s “mirror moment” and what he did about it.
• The Transition Plan out of the business, the beginning.
• How to create a culture of intrapreneurs.
• How 9/11 slowed things down.
• What ego really means in business, and getting past it.
• Scott’s rule of thumb for engaging his employees to step up.
• The #1 metric that Scott considered the most important.
• Scott’s “weed-eaters” and how it improved the business.
• The importance of an organizational chart.
• The POD model and how it works.
• Why your culture could be the problem.
• The team that helped Scott exit.
• The types of buyers that approached Scott.
• Scott’s 3-step process to Angel Investing.
• Scott’s final thoughts.

Takeaways:

Start thinking about transitioning out of your business. Reframe how you view your business. Look at it as if you are working out of it. You'll be happier and more successful.

Links and Resources:

GEXP Collaborative Growth Connect The 40 Hour Work YEAR by Scott Fritz Scott Fritz on LinkedIn Scott’s email

About Scott:

Scott Fritz currently oversees acquisition funding and strategy for SGI Property Management. SGI operates in 3 states and manages over 1,300 properties. In 2010 Scott authored The 40 Hour Work YEAR. The book chronicles Scott’s entrepreneurial journey first-hand as he shares strategic business methods, action-focused exercises and the mindset philosophy that allowed him to achieve The 40 Hour Work YEAR and become a passive investor in his own business. Using his book as a platform, Mr. Fritz facilitates workshops and is a keynote speaker for dozens of groups every year. Mr. Fritz acquired Atlantic Insurance, a property and casualty agency, in 2010. After rebranding and repositioning, the agency was sold in December of 2012. Scott founded Growth Connect in 2008. By leveraging business coaching and exit planning services, Growth Connect specializes in transforming businesses into assets. Since 2008 Scott has facilitated over 400 strategic focus sessions. As an active Angel Investor since 2001, Mr. Fritz has invested in over thirty separate ventures. His involvement with these companies ranges from a passive investor to a business coach and advisory board member. Mr. Fritz founded Human Capital in 1997. He grew the company into a nationwide player with 2007 annual revenues of $170 million dollars. This hyper-growth landed Human Capital and its affiliate division on the INC. 500 list in 2003 and 2004 with growth rates in excess of 1,000 percent. Human Capital was sold to a nationwide staffing firm in 2007. In addition to various business pursuits, Scott held multiple local and global volunteer positions within the Entrepreneur’s Organization (EO) between 2001 and 2011. Mr. Fritz is also an EO Certified Facilitator which allows him to pursue his passion of working with leading entrepreneurs in the areas of strategy, sales, leadership, people, and finance.