Mark Lachance, CEO, and Author has a deep understanding of Leadership Development, Marketing, Sales, and Finance. Having owned and operated several businesses that incorporated various types of lead generation as a staple in its sales and marketing mix, he fully understands how leadership, personal development, coaching and human psychology works to the core.
Mark Lachance has invested in several businesses in marketing, payments and alternative finance businesses. He is also a prolific author of the book; The Lucky Formula, which focuses on leadership and attracting success and luck into your business.
He is particularly a fan of a growth strategy called “blitzscaling” which is used to describe a fast and disruptive growth of a business to the point where it quickly becomes a global player.
A business has typically three traditional options for scaling: 1) Investing in marketing/sales 2) Investing in equipment so the company can produce more 3) Opening new offices and investing back into the business. In all three cases, time frames are measured in years or decades, so they slow down or stop at some point based on market demand. Blitzscaling doesn’t have these limitations because it is customer-led growth driven by social media algorithms and viral effects-driven through social networks. It’s a “build it and they will come” model, reminiscent of the dot-com boom from the late 90s. Growth can happen at exponential rates because of this, but it’s difficult to replicate. In order to grow exponentially without running out of cash, a blitzscale needs to be frugal. Because they are disrupting (innovating), they don’t always know how their customers will respond in their growth phase. Because of this, blitzscale companies can often avoid having to actually spend money on marketing or sales in the beginning stages; they jump straight into exponential growth because their customer base is built through word-of-mouth (social).
Mark believes, blitzscaling is one of the most intricate and efficient ways to scale a company. It’s important to note that even when a company is blitzscaling, it isn’t necessarily the only solution that will make a company reach its full potential; it is simply an effective way to grow quickly and potentially reach millions of users. Once a blitzscale company reaches millions of users, they can start thinking about how best to monetize and become profitable.
