Scaling For Growth_Larsen_by Denise Spacinsky
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The document discusses strategies for scaling a company in the localization industry, emphasizing the need for adaptability and overcoming common barriers to growth such as fear of failure, fear of success, and financial concerns. It highlights the importance of an effective organizational structure and various roles required as a company expands, from sales to project management. Additionally, it offers insights into the staffing landscape within the language industry, alongside practical advice for hiring and team development.
Scaling For Growth_Larsen_by Denise Spacinsky
- 1. Scaling Your Company for GrowthDenise SpacinskyPartner & Director, AmericasLarsen GlobalizationPresentation to ATA-TCD Scottsdale AZMarch 2010
- 2. A little about Larsen GlobalizationLarsen Globalization is a staffing company dedicated to the localization industry since 2000. Founded in London UK and expanded through the Americas Region in 2006. Currently we have active offices in Europe and US with experience placing hundreds of language professionals all over the world. We work for clients in Asia, South America, North America and throughout the European Union.Our clients are both buyer-side companies across various industriesand LSPs.We mainly focus on retained executive search or contingent full-time permanent placement. Occasionally we do contract staffing as well.Our site: www.larseng11n.comOur blog: www.larsenglobalizationblog.com
- 3. Our Sessions at ATA-TCDMarch 19th Session1:30pmMarch 20th Session1:30pmTOPICS:Language Companies as “People” BusinessesPerspectives on Global Talent PoolCalculating Cost of Hiring & Not HiringPractical Tips & AdviceTOPICS:Survey Results on Staffing in the Language IndustryBarriers to GrowthScaling Your Team
- 4. Our Survey on Staffing in the Language Industrywww.larsenglobalizationblog.com
- 5. Participants of the Surveywww.larsenglobalizationblog.com
- 6. Opinions about Growth Industrieswww.larsenglobalizationblog.com
- 7. Opinions about Priority Positionsfor Staffingwww.larsenglobalizationblog.com
- 8. Timing for Hiring in 2010www.larsenglobalizationblog.com
- 9. Some Barriers to GrowthDoing It YourselfThinking Small vs. Big!Fear of Failure (and Fear of Success)Money Concerns“The Economy”
- 10. Doing it Yourself“I can do it myself!””Someone new won't do as good a job as I do.” "I'll waste too much time telling people how I want something done. It's easier to do it myself.”People who make this kind of objection to delegating are really afraid of losing control. It's important to realize that you don't lose control of a task just because someone else is doing it.
- 11. Thinking Small vs. Big!Do you always think of yourself or your company in present terms, in its current size, and recalling how you started as a small one or two person shop? Have you ever thought to stretch yourself?Here is your challenge:Think of your company as if it were double it’s size in revenue. Triple. Quadruple. See what kinds of issues come up for you. Then give them a name and face them.Research companies that have grown in this space to larger and larger sizes over time. Learn from success stories.Also learn from failures of other language companies that have grown. Those experiences can teach you many things.
- 12. Fear of FailureFearing failure is one of the more powerful barriers to growth. But you can reposition that fear as your friend. As long as your failures are moving you closer to your desired end-state, they are good for you and your business.When you do fail (and you will if you are growing at all!) take them as learning experiences. And celebrate them! They only mean that you are constantly pushing yourself and your business to new levels.If we don’t risk failure, we’ll never grow.And, if we don’t fail we won’t know what to avoid next time around.
- 13. Fear of SuccessYes, Fear of Success does exist. It’s a funny fear that most of us would not think could turn into a barrier to growth.Try to understand your relationship with success both personally and in your business. Do you think you’ll get too big that you won’t be able to manage? That’s a control issue again.Do you think that people will judge you or look at you differently if you get ‘too’ big for them? It might happen, but it’s more about these “other people” than you. So go for it!
- 14. Money ConcernsMaybe you are not growing because you want to save money and don’t feel comfortable investing in your business in the form of new people, recruitment efforts and related costs.It is very important to get a real sense of what goes into hiring or not hiring new people to grow.We will help you calculate a few key formulas to help you in your decision making for hiring.They are:CORE (Cost of Recruitment Execution)CORD (Cost of Recruitment Delay)
- 15. “The Economy”"Expectation is the core of an entrepreneurial economy. When ours will recover might be an open question, but how it will recover is already known: It will happen when our expectations turn optimistic again." - Dale Davenporthttp://www.signsoftherecovery.com /
- 16. Dale Davenport?
- 18. Basic Organizationof an Early-Stage Language CompanyOwner/ManagerSalesProjectManagementAdministrationFinance, Legal, Website, Marketing/PR
- 19. As you Scale Up Remember:Sales Teams Have Many RolesSales ManagerNew BusinessSales (Hunter)All new business all the time – externally facing “go-getter”. Well paid for experience. Commissions included.AccountDevelopment (Farmer)Seasoned Sales Pro with talent for growing business with existing clients. Rather experienced and strategic players.AccountManagementA Sales position that also works a lot with Operations and Project Management. Can be a good entry to groom new sales people.SolutionsArchitectsA technically-savvy professional that will speak to clients about the details of complex projects. Works closely w/ Engineering & Operations.Lead GeneratorsDedicated junior-level pros focusing on researching new clients, setting appointments for Hunters, getting responses from prospects.Administrative function totally dedicated to Sales. May be responsible for maintaining CRM, crafting proposals, scheduling travel & meetingsSales Support
- 20. Operations RolesOperations/Production ManagerProject ManagersSenior – Major AcctsDocumentationTechnicalLanguage or Region FocusedVendor ManagersFreelancersContractorsLocalization EngineersSolutionsArchitectTool ExpertFile PrepLinguisticQuality ControlTechnicalDTPTranslatorsProofreadersLinguistsCopy Editors
- 21. Parting Words"When you reach the top, that’s when the climb begins.”Michael Cane
- 22. Thanks.Denise SpacinskyPartner & Director, AmericasLarsen GlobalizationPresentation to ATA-TCD Scottsdale AZMarch 2010