In the June 2010 Newsletter
More Rockefeller Habits for Business Growth / Events / News
Rockefeller Habits for Passionately Pursuing Business Growth
Fast growing companies follow certain principles that the less successful firms do not embrace. Last month I shared the first three of the 10 success principles. This newsletter covers the next two.
Gazelles, or companies that grow more than 20% per year for 3 consecutive years, have overcome the barriers to growth. Verne Harnish in his book Mastering the Rockefeller Habits states, "As organizations move up the growth path they go through a predictable series of evolutions and revolutions. The three barriers that prevent firms from moving along this path include: lack of leadership, lack of systems and structures, and market dynamics." The Rockefeller Habits help firms overcome these barriers. From my experience as a business coach, I know these habits work.
Award-winning entrepreneur, Henry McGovern, is the founder of American Restaurants, the largest restaurant chain in Europe with $3 billion in revenues. He shared, at a Fortune Small Business Growth Summit, one of their secrets to growth and success, "We believe our motto that 'Everything is Possible' and we use the Rockefeller Habits."
More Practical Pointers on Best Habits of Fast Growing Companies
4. CLEAR UNDERSTANDING OF THE FIRM'S MARKET POSITION DRIVES STRATEGIC PLANNING AND SALES AND MARKETING.
CASE STUDY. At my new company, Radish Systems, we use the Rockefeller Habits along with the 'Pursuit of Passionate Purpose' success model. As a first step in our strategic discussions, we questioned the definition of our target market and those players we would want in our Sandbox.
Our purpose is to help businesses communicate more effectively with smart mobile device users. Mobile device users are important and are definitely invited into our Sandbox. However, the top priority customers in our Sandbox are businesses that want to improve efficiencies in their contact centers and build loyalty with their own mobile clients. Also in our Sandbox we included the firms with which we have alliances and mutual business interests. In selecting our Sandbox players, we followed Willie Sutton's Law, "Go where the money is!"
So what do we promise to deliver to our customers? What is our brand promise? A fast-growing firm does not come up with a brand promise lightly, so the 'Radishes' gave it considerable discernment. Our promise is to deliver to our customers, "Happy, Fast, Money-Making Experiences."
Radish has annual and quarterly strategic planning meetings where we establish and review our five key strategies for growth. Additionally, we share customer feedback in our daily huddle and weekly meetings. Because our customers are critically important, we just hired the best Director of Customer Care we know. Stay tuned for more on Radish 2.0.
Next month I will cover another set of the Habits.
Upcoming Public Events
Thursday, September 16, 2010. Mark your calendars now. Join Theresa at the Boulder Business and Professional Women's monthly meeting where she speaks on "To The Top: Growing your Business as a Pursuit of Passionate Purpose." A Spice of Life, Boulder, 5:30 - 8:00 PM MDT. Register at www.boulderbpw.org.
Good News and Practical Information for You
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Three Rockefeller Habits for Passionately Pursuing Business Growth.
Believe and Act!
Theresa M. Szczurek, Ph.D.
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CEO, Entrepreneur, Consultant & Business Coach, Speaker & Author
Technology and Management Solutions, LLC