dna of a great companies
DESCRIPTION
Great look at what great companies have in common...TRANSCRIPT
Welcome to
DNA of Great Companies
ObjectivesUnderstand the Framework of the Rockefeller Habits
3
Agenda
Rockefeller Habits Fundamentals ◦ Part 1 - Business Framework - Overview
◦ Part 2 – People & Strategy Decisions
◦ Part 3 – Execution Decisions & Metrics
◦ Part 4 – Planning Rhythm and Cash Decisions
– Mindset for Success
– Approaches/Strategies
– Leveraging Key Relationships
– Impact on the Long-term
To reward your time investment with insights/ideas… for today’s economy
My purpose this morning...
Formula For Success in any economy…
1. Rise Early
2. Work Hard
3. Strike Oil
- J. Paul Getty
Mindset Required For Success
“The greatest discovery of my generation is that man can alter his life simply by altering his attitude of mind.”
James Truslow Adams
Mindset - Impact on Your Business…
OwnershipAccountableResponsible
BlameExcusesDenial
In difficult timesYour Attitude is key…
Are You Above or Below the Line?
Results
Reasons
Why do businesses stay where they are ... ?
FEAR
alsexpectationsppearingeal
To keep moving and growing ...
Always ask ...
What do I FEAR most?
Then Do It ...
E R OE = Event R = Response
O = Outcome
Jack Canfield
E R OEvent Response OutcomeBad Day
Great Stuff
Economy
Lost Client
Someone Dies
FEAR
PESSISISM
DOUBT
UNGRATEFULNESS
QUIT
NEGATIVE
NEGATIVE
NEGATIVE
NEGATIVE
NEGATIVE
What will kill a business…
Bright Shining Objects…Chasing the next greatest idea…!
ChasingBSO’s…
Behavior
Thoughts
Images
What is similar about . . .
Only Things
You Can
CONTROL
Faith Fear
Clarity Chaos
Achievement Power Atrophy Paralysis
What do you choose?
Discipline & Focus Distraction & Procrastination
E R OEvent Response Outcome
Gratitude
Faith
Belief
Optimism
Persistence
Bad Day
Great Stuff
Economy
Lost Client
Someone Dies
POSITIVE
POSITIVE
POSITIVE
POSITIVE
POSITIVE
Life and Business Mastery...
Formula for bothPersonal and BusinessSuccess…
(V) X (G) X (P) X (A) = SVisionGoalsPlans
ActivitiesMeasure both Personal and Business
Formula for bothPersonal and BusinessSuccess…
(V)X(G)X(P)X(A)=SRate each category 1-10
On both a personal and business level
A perfect score would be10 X 10 X 10 X 10 =10,000
Formula for bothPersonal and BusinessSuccess…
(V)X(G)X(P)X(A)=S10 X 10 X 10 X 10 =10,000
What if…Personal was low…2 X 2 X 2 X 2 =16
And Business was high…7 X 7 X 5 X 5 =1125
What do all great companies do?
Team
Customer Experience
Customer Mgt Process
“People + Culture”Right People, Rules of the Game, Beliefs/ValuesLearning/Growing/Changing
Effective and EfficientDoing the Right Things Right
Internal & External
WOW Factor“Raving Referrals”Reputation/Brand
Right People on Bus...Right Seats...Doing the Right Things
Starbucks, Ritz Carlton, Nordstroms, Apple…
LeadershipVision, Strategy,CommunicationSetting the bar
Keith Cunningham, “Keys To The Vault”
Quoting Richard Branson ...
“If you can learn to run one business
successfully, then there is no reason you can’t run any number of businesses at the
same time in any economy….the
principles are still the same.”
Strategies for Recessionary Markets Many business owners and professionals become paralyzed,
literally frozen in fear…
The normal reaction is to stop a lot of things we have been doing and hunker down waiting for the business and economy to come back
You can either be inactive and reactive or you can be proactive, creative and innovative.
Doing nothing strategy leads to loss of customers and sales. If you are not growing… you are dying!
Have you postured yourself and your business with a Strategy to survive and flourish now and when the economy turns around!
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What are the
RIGHT THINGS to FOCUS on?
Successes
Brags
Issues
Brand Promise
Opportunities
Threats
Challenges
Core Values
BHAG
Key Thrusts and Capabilities
Great Advice for Tough Markets ...
“It is not necessary
to do extraordinary things to get extraordinary
results.”World famous investorWorld’s 2nd wealthiest man$48 Billion net worth
The Economic Facts… without the data!
Markets have not disappeared completely
Some markets have decreased
Some markets are still growing
Some markets are contrarian
Outsourced/Leveraged service providers are hot
Waiting for the economy makes no sense and is fatal
Many of your competitors will fail
You must fight harder for your fair and unfair shares…
Investing in your business is not an option
Economies have always cycled back…
22 Great Strategies for Recessionary Markets
1. Market both efficiently and effectively
2- Invest in Training or Learning
3- Evaluate Your Team and Maximize Performance
4- Communicate Now More than ever
5- Quarterly/Monthly Plan for your business success
6- Follow up with existing customers
7- Network and Build Powerful Relationships
8- Strong leadership and great attitude is extremely important
9- Daily/Weekly/Monthly/Quarterly KPI & Business Reviews
10- Manage Cash Flow/Cash Gap/Cash Conversion Cycles
22 Great Strategies for Recessionary Markets
11- Co-market with complimentary companies
12- Seek Referrals from clients and alliances.
13- Develop Customer Retention Programs
14- Create lighter versions/entry services/products
15- Leverage the internet
16- Build innovation into all business processes
17- Clearly differentiate vs. key competitors
18- Add complementary products/services or expand geographically
20- Trim the fat/Eliminate non-producing assets
19- Build faster sales cycles
21- Focus on and Work on the Critical Drivers
22- Hold sacred life/work balance
“No matter how tough you think you are, you can’t do this on your own…” Tiger Woods - discussing the value of his Coach and Advisory Team
“No matter how tough you think you are, you can’t do this on your own…” Tiger Woods - discussing the value of his Coach and Advisory Team
Leveraging Great Relationships
Leveraging Key Relationships Your Coach Trusted Advisors Board of Directors Informal Networks Strategic Partnerships/Alliances Entrepreneurs Key Vendors Top Clients Community Leaders Learning Organizations
The Long-term Business Landscape Has Forever Changed…
Redefined Competitive Markets Accounting and Finance Business Financing Business Valuation In-house vs. Out-source Effectiveness and Efficiency Planning, Planning, Planning… Execution…Testing and Measuring Rate of Change… Unique Selling Proposition/Differentiation Never Stop Building Leverage Customer Experience Innovation/Creativity Leadership Employee Performance/Contribution Learning/Training/Growing/Thinking Organizations
So What do truly great businesses do in any economy?
2009 Fast Company’s World’s Most Innovative Companies1. Team Obama2. Google3. HULU4. Apple5. Cisco6. Intel7. Pure Digital Technologies8. WuXi PharmaTech9. Amazon10. Ideo
Innovation as measured on: promising, enlightened, powerful, entertaining, execution, creativity that will redefine our future and point the way to a better tomorrow
“What’s dangerous is to not evolve as a company”
Jeff Bezos, Amazon
2008 Inc. 500 Fastest Growing Companies1. Senior Whole Health (Healthcare)2. Eliason Inc. (Real Estate)3. Snack Factory (Food/Bev)4. Torres advanced Enterprise Solutions (Govt Serv)5. Group Gemstone (Real Estate)6. Just Like Sugar (Food/Bev)7. Greenline Industries (Energy)8. Zorch (Web)9. Harley Stanfield (Real Estate)10. Amir Amirfar and Asoc. (Arch/Eng)
Influence – Trends – Relevant – Hardworking- PassionEgo-cide- Innovative –Niche – Cutting Edge- InnovativeFocus – Incensed – Urgency – Speed – Focus
“ Whatever it takes”
2009 Fortune Best Companies To Work For1. Net Ap2. Edward Jones3. Boston Consulting4. Google5. Wegmans Food Markets6. Cisco7. Genetech8. Methodist Hospital9. Goldman Sachs10. Nugget Market
Culture – Values – Learning – Fun – Training – TeamCreative – Innovative – Great Perks/Benefits
So, what has to change in you and your business?
Quoting E. James Rohn ...
“Never wish your life were easier ... Wish that YOU were better…”
“Work harder on yourself than you do on your job …”
Thank you!