Technology and Management Solutions Pursuit of Passionate Purpose
    July 2010
 
In the July 2010 Newsletter
  Two More Rockefeller Habits for Business Growth / Events / News

Business growth can be a challenge for some firms. However, those firms that use the Rockefeller Habits, as described by Verne Harnish in his bestseller Mastering the Rockefeller Habits, together with the "Pursuit of Passionate Purpose" principles have an easier time growing. Thus, I'm continuing to review these habits and illustrate how they're being applied at Radish Systems.

Two More of the 10 Rockefeller Habits

6. EVERY FACET OF THE ORGANIZATION HAS A PERSON ASSIGNED WITH ACCOUNTABILITY FOR ENSURING THAT GOALS ARE MET.
Income (P&L), Cash Flow, and Balance Sheet statements have persons assigned for each line item.
An accountability chart has been created.

7. ALL EMPLOYEES CAN REPORT AT ANY TIME WHAT THEIR PRODUCTIVITY IS AND HOW IT COMPARES WITH GOALS.
Smart numbers (key performance indicators) are identified for the organization.
Weekly measures for each individual/team are clearly displayed and reviewed.

Radish Case Study

During our Q3 strategic planning session, we explored which leaders of the company are accountable for which key measures. For example, as CEO, I am responsible for: (1) Profitability, (2) Share price or market share, (3) Percent of "A" Players on the team, and (4) Raising new money (fundraising). These are the smart numbers I track and the most important at this time are raising funds and hiring "A" players.

Radish 2.0 is a development-stage company funded to date by the founders. It's now time for Radish 2.0 to raise seed funds to carry it to the next stage of qualified financing. Thus, we have organized a Private Placement Offering to sell convertible debentures to selected accredited investors. These promissory notes may convert into equity interests in the firm at the time of its next qualified funding.

This approach worked well for Radish 1.0 and carried it until we secured a $3M round of venture capital financing. During that time, Richard A. Davis (the co-founder of Radish) and I got married to each other. The weekend of our wedding, we raised enough funds to support the company for an additional six months.

In terms of "A" players, Radish has a strong team, many of whom have worked together in Radish 1.0 and beyond. This team has demonstrated the ability to create exceptional success. Over the past year (July 15th was Radish's first birthday), we have made great progress while working in stealth mode and mostly for sweat equity. Yet in reviewing the accountability chart of people and goals, it became clear that we need to augment our team with an experienced Marketing leader. Can you recommend an available, talented Marketing Director with proven expertise in B2B marketing of innovative technology? If so, please contact me.

Interested in more of the story? Follow Radish @RadishSystems on Twitter. Next month I'll cover another set of the Habits and their application.

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

Check out my latest blog posts about business and life performance. There you'll learn about Two More Rockefeller Habits.

Believe and Act!

Theresa M. Szczurek, Ph.D.
CEO, Entrepreneur, Consultant & Business Coach, Speaker & Author
Technology and Management Solutions, LLC

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Theresa M. Szczurek, Ph.D.

Technology and Management Solutions

303.443.8674 Phone
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tms@tmsworld.com
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