Ten Tips To Grow Your Organization
June 20, 2018
As a part of LeagueApps’ “Play Smart” series, Neal Shenoy spoke to a group of partners at our New York City office, sharing the playbook that has powered his tremendously successful business career. Shenoy serves as CEO and co-founder of Speakaboos, the fastest growing subscription service for children’s interactive storybooks. He also co-founded  MEDIA which builds consumer ventures in partnership with major media companies, creating over $1.5BN in enterprise value in the process. Here are ten of Shenoy’s tips for growing your organization.
1. Setting Expectations
Overnight success is a misnomer. Understanding the sweat equity and sheer time required to create a successful business is vital. From business plans to quarterly roadmaps, setting well-defined expectations are a must for new organizations.
2. Appropriate Risk Taking
Hitting .300 in baseball may garner you an invitation to the Midsummer Classic, but in the world of business, seven failures out of 10 won’t cut it. Striving for an elite quarterback’s completion percentage (65-70%) aligns more appropriately with businesses just starting out. It’s all about finding that sweet spot when it comes to risk vs. reward.
It takes courage and confidence to start something new, but you need to admit from the onset that you’re not an expert in every aspect of your business. Knowing what you don’t know, so to speak, allows your business to seek out the support it needs to grow.
4. Opportunity Without Structure Is Chaos
It’s incredibly important to structure your organization in a way that is measurable. Without metrics and other evaluation tools, maintaining success and ultimately growing your organization will be too daunting a task.
5. Hire Player Coaches
Simply put, you want to add people who are better than you. As your organization grows, the new wave of employees need to lift the organization and be capable of stepping into leadership roles from day one.
6. Build A Network Of Knowledge #Advisors
When working with a limited budget, adding innovative advisors is a great way to increase your intellectual capital. Inviting innovators in the field to serve as guest speakers or to serve on your board can be fruitful. Remember, you don’t ask, you don’t get.
7. Recruiting Simulations
Finding the best talent is paramount for any organization. Recruiting can be a daunting task, but adding a simulation element can ensure consistent results. Have top candidates complete an exercise that reflects the kind of work they’d be producing for your organization.
8. Professional Development
The growth of your organization can be tied to the growth of your employees. Ensuring your employees have the tools to evolve professionally is an investment all successful leaders take seriously.
9. Common Playbook
Everyone within your organization should be able to grasp your mission and overall goals. Boiling this down to a single page can foster a collective sense of purpose from the top down.
10. Bring In Outside Inspiration
No industry has a monopoly when it comes to effective management techniques. Learning from the best of the best within your space is excellent, but tapping into the wisdom of thought leaders across every walk of life will pay dividends for your organization.
Making a bigger impact in the youth sports industry goes beyond simply growing your organization, it also requires tapping into the broader community. Our “Play Smart” series will continue to bring influential thought leaders together so that our audience can learn from the very best!