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DNA of a great companies


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Great look at what great companies have in common...

Published in: Business, News & Politics
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DNA of a great companies

  1. 1. Welcome to <br />DNA of <br />Great Companies<br />
  2. 2. Objectives<br />Understand the Framework of the Rockefeller Habits<br />
  3. 3. Agenda<br />Rockefeller Habits Fundamentals <br />Part 1 - Business Framework - Overview<br /> Part 2 – People & Strategy Decisions<br /> Part 3 – Execution Decisions & Metrics<br /> Part 4 – Planning Rhythm and Cash Decisions<br />3<br />
  4. 4. My purpose this morning...<br />To reward your time investment with insights/ideas… for today’s economy<br /><ul><li>Mindset for Success
  5. 5. Approaches/Strategies
  6. 6. Leveraging Key Relationships
  7. 7. Impact on the Long-term</li></li></ul><li> Formula For Success in any economy…<br /> Rise Early<br /> Work Hard<br /> Strike Oil<br />- J. Paul Getty<br />
  8. 8. Mindset Required For Success<br /> “The greatest discovery of my generation is that man can alter his life simply by altering his attitude of mind.”James Truslow Adams <br />
  9. 9. Mindset - Impact on Your Business…<br />Owner/Leader<br />Team<br />Business<br />Customers<br />
  10. 10. In difficult times<br />Your Attitude is key…<br />Are You Above <br />or Below the Line?<br />OwnershipAccountableResponsible<br />Results<br />BlameExcusesDenial<br />Reasons<br />
  11. 11. Why do businesses stay where they are ... ?<br />F<br />E<br />A<br />R<br />alse<br />xpectations<br />ppearing<br />eal<br />
  12. 12. To keep moving and growing ...<br />Always ask ...<br />What do I FEAR most?<br />Then Do It ...<br />
  13. 13. O<br />E<br />R<br />E = Event <br />R = Response<br />O = Outcome<br />Jack Canfield<br />
  14. 14. O<br />E<br />R<br />NEGATIVE<br />Bad Day<br />Great Stuff<br />Economy<br />Lost Client<br />Someone Dies<br />FEAR<br />PESSISISM<br />DOUBT<br />UNGRATEFULNESS<br />QUIT<br />NEGATIVE<br />NEGATIVE<br />NEGATIVE<br />NEGATIVE<br />Event<br />Response<br />Outcome<br />
  15. 15. What will kill a business…<br />Chasing<br />BSO’s…<br />Bright Shining Objects…<br />Chasing the next greatest idea…!<br />
  16. 16. What is similar about . . .<br />Behavior<br />Only<br /> Things<br />You <br />Can<br />CONTROL<br />Thoughts<br />Images<br />
  17. 17. What do you choose?<br />Clarity<br />Chaos<br />Fear<br />Faith<br />Power<br />Achievement<br />Atrophy<br />Paralysis<br /> Discipline & Focus<br />Distraction & Procrastination<br />
  18. 18. O<br />E <br />R<br />Gratitude<br />Faith<br />Belief<br />Optimism<br />Bad Day<br />Great Stuff<br />Economy<br />Lost Client<br />Someone Dies<br />POSITIVE<br />POSITIVE<br />POSITIVE<br />Persistence<br />Event<br />Response<br />Outcome<br />POSITIVE<br />POSITIVE<br />
  19. 19. Life and Business Mastery...<br />BE<br />DO<br />HAVE<br />X<br />=<br />Thougts<br />Actions<br />Results<br />
  20. 20. Formula for bothPersonal and BusinessSuccess…<br />(V) X (G) X (P) X (A) = S<br />Vision<br />Goals<br />Plans<br />Activities<br />Measure both Personal and Business<br />
  21. 21. Formula for bothPersonal and BusinessSuccess…<br />(V)X(G)X(P)X(A)=S<br />Rate each category 1-10<br />On both a personal and business level<br />A perfect score would be<br />10 X 10 X 10 X 10 =10,000<br />
  22. 22. Formula for bothPersonal and BusinessSuccess…<br />(V)X(G)X(P)X(A)=S<br />10 X 10 X 10 X 10 =10,000<br />What if…<br />Personal was low…<br />2 X 2 X 2 X 2 =16<br />And Business was high…<br />7 X 7 X 5 X 5 =1125<br />
  23. 23. What do all great companies do?<br />Starbucks, Ritz Carlton, Nordstroms, Apple…<br />Customer Experience<br />WOW Factor<br />“Raving Referrals”<br />Reputation/Brand<br />Customer Mgt Process<br />Effective and Efficient<br />Doing the Right Things Right <br />Internal & External<br />Right People, Rules of the Game, Beliefs/Values<br />Learning/Growing/<br />Changing<br />“People + Culture”<br />Team<br />Right People on Bus...<br />Right Seats...<br />Doing the Right Things<br />Leadership<br />Vision, Strategy,<br />Communication<br />Setting the bar<br />Keith Cunningham, “Keys To The Vault”<br />
  24. 24. Quoting Richard Branson ...<br />“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.”<br />
  25. 25. Strategies for Recessionary Markets<br />Many business owners and professionals become paralyzed, literally frozen in fear…<br />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<br />You can either be inactive and reactive or you can be proactive, creative and innovative. <br />Doing nothing strategy leads to loss of customers and sales. If you are not growing… you are dying!<br />Have you postured yourself and your business with a Strategy to survive and flourish now and when the economy turns around!<br />
  26. 26. Successes<br />Challenges<br />Opportunities<br />BHAG<br />Issues<br />What are the RIGHT THINGS to FOCUS on?<br />Core Values<br />Brags<br />Brand Promise<br />Threats<br />Key Thrusts and Capabilities<br />24<br />24<br />
  27. 27. Great Advice for Tough Markets ...<br />“It is not necessary to do extraordinary things to get extraordinary results.”<br />World famous investor<br />World’s 2nd wealthiest man<br />$48 Billion net worth<br />
  28. 28. The Economic Facts… without the data!<br />Markets have not disappeared completely<br />Some markets have decreased<br />Some markets are still growing<br />Some markets are contrarian<br />Outsourced/Leveraged service providers are hot <br />Waiting for the economy makes no sense and is fatal<br />Many of your competitors will fail<br />You must fight harder for your fair and unfair shares… <br />Investing in your business is not an option<br />Economies have always cycled back… <br />
  29. 29. 22 Great Strategies for Recessionary Markets<br />1. Market both efficiently and effectively <br />2- Invest in Training or Learning<br />3- Evaluate Your Team and Maximize Performance <br />4- Communicate Now More than ever <br />5- Quarterly/Monthly Plan for your business success<br />6- Follow up with existing customers <br />7- Network and Build Powerful Relationships <br />8- Strong leadership and great attitude is extremely important <br />9- Daily/Weekly/Monthly/Quarterly KPI & Business Reviews<br />10-Manage Cash Flow/Cash Gap/Cash Conversion Cycles<br />
  30. 30. 22 Great Strategies for Recessionary Markets<br />11- Co-market with complimentary companies <br />12- Seek Referrals from clients and alliances.<br />13- Develop Customer Retention Programs<br />14- Create lighter versions/entry services/products<br />15- Leverage the internet<br />16- Build innovation into all business processes <br />17- Clearly differentiate vs. key competitors <br />18- Add complementary products/services or expand geographically<br />19- Build faster sales cycles<br />20- Trim the fat/Eliminate non-producing assets<br />21- Focus on and Work on the Critical Drivers<br />22- Hold sacred life/work balance<br />
  31. 31. Leveraging Great Relationships<br />“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<br />
  32. 32. Leveraging Key Relationships<br />Your Coach<br />Trusted Advisors<br />Board of Directors<br />Informal Networks<br />Strategic Partnerships/Alliances<br />Entrepreneurs<br />Key Vendors<br />Top Clients<br />Community Leaders<br />Learning Organizations<br />
  33. 33. The Long-term Business Landscape Has Forever Changed…<br />Redefined Competitive Markets<br />Accounting and Finance<br />Business Financing<br />Business Valuation<br />In-house vs. Out-source<br />Effectiveness and Efficiency<br />Planning, Planning, Planning… Execution…Testing and Measuring<br />Rate of Change…<br />Unique Selling Proposition/Differentiation<br />Never Stop Building Leverage<br />Customer Experience<br />Innovation/Creativity<br />Leadership<br />Employee Performance/Contribution<br />Learning/Training/Growing/Thinking Organizations<br />
  34. 34. So What do truly great businesses do in any economy?<br />
  35. 35. 2009 Fast Company’s World’s Most Innovative Companies<br />Team Obama<br />Google<br />HULU<br />Apple<br />Cisco<br />Intel<br />Pure Digital Technologies<br />WuXi PharmaTech<br />Amazon<br />Ideo<br /> Innovation as measured on: promising, enlightened, powerful, entertaining, execution, creativity that will redefine our future and point the way to a better tomorrow<br />“What’s dangerous is to not evolve as a company” <br /> Jeff Bezos, Amazon<br />
  36. 36. 2008 Inc. 500 Fastest Growing Companies<br />Senior Whole Health (Healthcare)<br />Eliason Inc. (Real Estate)<br />Snack Factory (Food/Bev)<br />Torres advanced Enterprise Solutions (Govt Serv)<br />Group Gemstone (Real Estate)<br />Just Like Sugar (Food/Bev)<br />Greenline Industries (Energy)<br />Zorch (Web)<br />Harley Stanfield (Real Estate)<br />Amir Amirfar and Asoc. (Arch/Eng)<br />Influence – Trends – Relevant – Hardworking- Passion<br /> Ego-cide- Innovative –Niche – Cutting Edge- Innovative<br /> Focus – Incensed – Urgency – Speed – Focus<br /> “ Whatever it takes”<br />
  37. 37. 2009 Fortune Best Companies To Work For<br />Net Ap<br />Edward Jones<br />Boston Consulting<br />Google<br />Wegmans Food Markets<br />Cisco<br />Genetech<br />Methodist Hospital<br />Goldman Sachs<br />Nugget Market <br /> Culture – Values – Learning – Fun – Training – Team<br /> Creative – Innovative – Great Perks/Benefits<br />
  38. 38. So, what has to change in you and your business?<br />
  39. 39. Quoting E. James Rohn ...<br />“Never wish your life were easier ... Wish that YOU were better…”<br />“Work harder on yourself than you do on your job …”<br />
  40. 40. Thank you!<br />