Navigating growth isn’t just about scaling a business—it’s about adapting to new challenges! Coach K (Dave Kester) shares his lessons learned from growing Coaching Actuaries, from small beginnings to building a leadership team that drives innovation in actuarial education.
There are many reasons we start a company. One common reason is the desire to build something that will grow. That was my motivation when I founded what is now Coaching Actuaries (originally known as SALT Solutions) in 1995.
From the beginning, our company provided actuarial consulting and actuarial education. My friends used to say that education was my hobby and consulting was what paid the bills. I never wanted the company to become large—just large enough to influence the market and provide opportunities for our staff.
Starting Small
For the first 15 years, our company was blessed to survive and maintain a small staff of five. We were successful at paying the bills, solving our customers' problems, and enjoying the work along the way. Growth truly began when we moved our actuarial education online and introduced Adapt in 2009.
In the last decade, our company has grown from about a dozen employees to more than 40 employees. I certainly underestimated the challenges that come with expanding from 5 to 12 and beyond. Each stage of growth brought a new set of changes, requiring us to rethink how we operated.
Shifting to a Larger Team
One of the biggest shifts was adding senior leadership. We went from just myself—one—to a team of four. This wasn’t just about working faster; it required an entirely new approach to running the business.
I was used to making all the major decisions and being deeply involved in operations, but that had to change. We needed to identify and develop middle managers and establish dedicated departments for IT, HR, and accounting, alongside our actuarial team. Just as important was structuring all of this in a way that ensured strong, effective communication.
On paper, these might seem like basic business principles, but there’s a vast difference between reading about them and actually putting them into practice. The biggest challenge was navigating the human element. Even with an amazing team, growth requires constant adaptation, and change is never easy.
Looking back, I underestimated just how much work this transition would take.
The Rewards of Growth
The journey has been challenging, but the results have been worth it. With a larger team, we have deeper insights into our customers, products, and market. We’re able to specialize more, and I’m personally closer to achieving a healthy balance between work and the rest of life.
Most importantly, as I gradually step back (still a ways off, by the way!), I have confidence that the company will continue to thrive.
The benefit of this experience is that I have a richer life experience to share in what I write. I'm excited to offer what I’ve learned with other actuaries, mathematicians, and finance specialists to help your career. I’ll also share stories about people whose experiences have shaped my own journey. Thank you for joining us in your journey!