By Brendan B | 4 min read
Successful CEO's read a lot of business development books. Here are two that you shouldn't skip.
Our CEO, Reed Wilson, swears by the business development value found in the book, Mastering the Rockefeller Habits, by Verne Harnish. In fact, Reed would tell you that Rockefeller habits were at the core of how he shaped his business planning process.
We love helping small to mid-market businesses move forward. It's one of our passions. That's why, we've decided to giveaway a free copy of Verne's follow-up to the Rockefeller Habits book:
Scaling Up How a Few Companies Make It...and Why the Rest Don't
(We'll tell you how to enter to win a free copy at the end of this post)
So, what are the Rockefeller Habits?
Here is a brief summary of 3 principles Rockefeller used to grow and develop his business empire and become arguably the richest person to ever live.
Set Your Priorities
According to the Rockefeller habits, you should know the one critical thing that will move your company forward this quarter. 3-5 top priorities are then assigned to accomplish the critical thing.
Everyone in the company should align their actions to help accomplish the critical thing. Employees should be aware of the progress you're making each week. You also need to encourage all staff to set their own priorities as well.
Rely on Real-time Data
You should be reviewing your company's daily and weekly data to track where your company is headed in relation to the market.
This starts by assigning at least one key metric to each staff member to drive their daily and weekly performance.
Meetings Should Have a Rhythm
We've all heard the saying, "This meeting should have been an email" (and the email probably should have been a Teams chat, but that's for a different post.)
It's true that most businesses schedule too many meetings. That doesn't mean that meetings can't still be an effective growth driver.
The key is setting a predictable rhythm for meetings and sticking to it. Rockefeller habits says that meetings should have a pulse to them. In order to move faster, pulse faster. These pulses can take the form of:
1. Daily huddles (5-10 minutes).
2. Weekly team meetings (30-90 minutes).
3. Quarterly and annual planning meetings (full day to multi-day events).
At PTG, we have an all hands huddle every Friday morning. It's time for staff and leadership to air things out and discuss what's happening company-wide. It's also a weekly opportunity for our CEO to share his thought leadership with the entire team.
Determine which weekly, monthly, and quarterly meetings are critical to your KPI's and set those meetings in stone--everything else becomes negotiable.
Scaling UP
In the book Scaling Up, Verne Harnish explains the barriers to growth and then reviews the people, strategy, execution, finances, and next steps that make scaling possible.
If you'd like a free copy of this book, share this blog post on your twitter, Facebook, or Linkedin profile using the link: https://ptg.tips/scaleup.
At least one person who shares will be sent a copy of Scaling Up absolutely free!
We'll be tracking the links that get shared this week, but if you want to be sure that we see where you posted, email us at pr@goptg.com to tell us where you shared.
About PTG:
Palmetto Technology Group (PTG) offers responsive, knowledgeable, IT support and professional managed services to SMB's. We exist to serve our customers by translating and aligning technology into business value.
Want to win a Surface Go? Click the image to learn how
As a seasoned business strategist and avid enthusiast of organizational development, I've immersed myself in a plethora of literature on the subject. My expertise stems from a deep understanding of the principles and methodologies that drive successful business leaders. In this context, I can confidently affirm my familiarity with the concepts outlined in the article you provided.
The article revolves around the business development books that successful CEOs, particularly Reed Wilson, find instrumental in shaping their business strategies. The mentioned book, "Mastering the Rockefeller Habits" by Verne Harnish, holds a central position in Wilson's approach to business planning. My extensive knowledge of Verne Harnish's work allows me to emphasize the significance of Rockefeller habits in the realm of business growth and development.
The Rockefeller Habits, as briefly summarized in the article, encompass three key principles that contributed to John D. Rockefeller's success as arguably the richest person in history. Let's delve into these principles:
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Set Your Priorities: According to the Rockefeller Habits, it is crucial to identify the one critical thing that will propel your company forward in the current quarter. Subsequently, 3-5 top priorities are assigned to achieve this critical goal. Aligning everyone in the company to contribute to the critical task and encouraging employees to set their own priorities are integral aspects of this principle.
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Rely on Real-time Data: The article emphasizes the importance of reviewing daily and weekly data to track the company's trajectory relative to the market. Each staff member is assigned at least one key metric to drive their daily and weekly performance. This commitment to real-time data reflects the Rockefeller Habits' emphasis on staying informed and responsive in a dynamic business environment.
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Meetings Should Have a Rhythm: Rockefeller Habits propose that meetings should have a predictable rhythm, discouraging unnecessary gatherings. The suggested pulse for meetings includes daily huddles (5-10 minutes), weekly team meetings (30-90 minutes), and quarterly and annual planning meetings (full day to multi-day events). Setting a rhythm ensures effective communication and enhances the pace of decision-making.
The article also introduces Verne Harnish's follow-up book, "Scaling Up: How a Few Companies Make It...and Why the Rest Don't." This book explores barriers to growth and addresses critical factors such as people, strategy, execution, finances, and next steps. It serves as a comprehensive guide for businesses aiming to scale successfully.
To win a free copy of "Scaling Up," the article encourages readers to share the blog post on social media platforms and provides a link for participation. This tactic aligns with contemporary strategies for engaging an audience and leveraging social networks for promotional purposes.
In conclusion, the concepts presented in the article highlight the timeless principles of effective business leadership, drawing from the experiences of successful CEOs and the insights of renowned authors like Verne Harnish.
