5 Business Habits That WILL Change Your Life. Endorsed by John D. Rockefeller
Mastering the Rockefeller Habits may be one of the most important business and leadership books of all-time. You can take these habits and implement them into any project you come across in life. Take it from these entrepreneurs:
“This is very powerful stuff! If you don’t believe me, ask any one on my management team.”
“Mastering the Rockefeller Habits helped put focus and spark back into my firm – a must for languishing entrepreneurs.”
“Not only do the tools help realign the firm, they also help realign the way you think in business and life.”
“A must-read for every entrepreneur that wants to create a successful company.”
“Adopting the mastering series has been an amazing venture. Our organization has become a laser-focused machine. The energy is electric.”
The above testimonials came from Founders, CEO’s, Presidents and Chairmen of Fortune 500 companies as well as small businesses. It’s a winning game plan for every serious player.
Below are the 5 main points talked about in the book. Hopefully you can find a way to leverage these into your business lifestyle right away.
1) Pick Priorities
This particular aspect of the Rockefeller Habits gets you digging deep and forces you to view your business from different depths. Pick 5 main priorities for your year and of those you’ll focus on one every quarter and one for the entire year.
In my business, our priorities this year are as follows: Launch mobile app A for iPad, launch mobile app B for Android and iOS, launch our new website along with our mobile site, generate an email list of over 1,000 clients/ contacts, and learn the custom WordPress website and PHP system.
Notice these priorities are ones that will pull the company forward. All of the priorities have a vision in place – either on paper or in my mind – and that’s more than half the battle.
2) Create a Communication Rhythm
One of the most rewarding tasks a boss can do in their business is a Friday update to send out to the team (employees). 300-500 words will do just fine. Highlight success, extraordinary effort(s) portrayed by team members, demonstrate core values and how the business puts them into play, and get them passionate about what’s to come for them and the company. This is your outbound communication as a boss.
What about an inbound communication for you to stay on top of things?
Going back to my last blog post, One New Management Technique Influenced By The Digital Age (In a Few Words), I highlighted a nice way to get information quickly and easily from your employees.
The book recommends a “daily huddle’ (5 minute meeting), but it’s kind of hard to my company to implement when you have a virtual business with people located in 4 different states.
This is just one characteristic about increased communication mentioned in Rockefeller Habits, but it goes a long, long way. It keeps everyone sharp and on the edge, exactly where they need to be to innovate.
3) Drive on Data
The Rockefeller Habits isn’t just about leadership development and entrepreneurial breakthroughs.
The author, uses the term ‘data’ throughout the book which is the driving force of key business decisions, and he demands you identify the key metrics in your business that determine success. Know them and know them well.
When you actually identified the key metrics that drive your business you will be able to grow even further. Build on them but keep a focused vision.
4) Identify the ‘X Factor’ and Open It Up
The author recognizes this thing called the ‘X Factor’ as the roadblock in your business model that needs to be detected, acknowledged and overcome – just like Rockefeller did.
This can include things such as website traffic, a cost efficient sales procedure, or may even include creating a powerful and profitable back-end that allows you to focus more money on generating leads. Remember, this is data driven so you need to collect data about it and measure.
It is usually a continuous process. Once you’ve overcome one X-Factor, it’s time to identify and overcome the next. This will let you grow your business in ways that can’t be taught.
Don’t be afraid to dig deep and take time to think about it. I’m sure you can come up with a few X-Factors, but focus on one at a time.
5) Plan & Prepare
The Rockefeller Habits takes a unique approach to planning, warning us “not to fall in love with our 1 -3 year plans.” This piece of advice couldn’t come at a better time. With technology constantly changing many industries, you might find yourself re-planning and redeveloping ideas for projects.
With that said, the author, Verne Harnish, states that there are only two time-frames that matter in busiess development: 90 days and 10 years, and nothing in between.
Your 90-day plan is data driven, and encourages you to focus on overcoming the chokepoint.
Your vision and mission drive the 10-25 year plan.
As long as you remain focused on those two paths, there’s little or no need to focus on a 3-year plan. Take time to think about it.
Mastering the Rockefeller Habits is available at your local bookstores, on the web and in eBook stores as well.