DNA of a great companies
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This document provides an agenda and overview for a presentation on strategies for business success. The summary includes: 1) The presentation covers frameworks and strategies for business success, including the Rockefeller Habits framework, people and strategy decisions, execution and metrics, and planning rhythms. 2) A key focus is on developing the right mindset for success, including being proactive, having optimism and faith, and focusing on controlling one's thoughts and actions. 3) Great companies exemplify customer experience, having the right people and culture, leadership, and constantly learning and improving. Developing the right strategies is important for any economy.
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DNA of a great companies
- 1. Welcome to DNA of Great Companies
- 2. ObjectivesUnderstand the Framework of the Rockefeller Habits
- 3. AgendaRockefeller Habits Fundamentals Part 1 - Business Framework - Overview Part 2 – People & Strategy Decisions Part 3 – Execution Decisions & Metrics Part 4 – Planning Rhythm and Cash Decisions3
- 4. My purpose this morning...To reward your time investment with insights/ideas… for today’s economyMindset for Success
- 7. Impact on the Long-term Formula For Success in any economy… Rise Early Work Hard Strike Oil- J. Paul Getty
- 8. Mindset Required For Success “The greatest discovery of my generation is that man can alter his life simply by altering his attitude of mind.”James Truslow Adams
- 9. Mindset - Impact on Your Business…Owner/LeaderTeamBusinessCustomers
- 10. In difficult timesYour Attitude is key…Are You Above or Below the Line?OwnershipAccountableResponsibleResultsBlameExcusesDenialReasons
- 11. Why do businesses stay where they are ... ?FEARalsexpectationsppearingeal
- 12. To keep moving and growing ...Always ask ...What do I FEAR most?Then Do It ...
- 13. OERE = Event R = ResponseO = OutcomeJack Canfield
- 14. OERNEGATIVEBad DayGreat StuffEconomyLost ClientSomeone DiesFEARPESSISISMDOUBTUNGRATEFULNESSQUITNEGATIVENEGATIVENEGATIVENEGATIVEEventResponseOutcome
- 15. What will kill a business…ChasingBSO’s…Bright Shining Objects…Chasing the next greatest idea…!
- 16. What is similar about . . .BehaviorOnly ThingsYou CanCONTROLThoughtsImages
- 17. What do you choose?ClarityChaosFearFaithPowerAchievementAtrophyParalysis Discipline & FocusDistraction & Procrastination
- 18. OE RGratitudeFaithBeliefOptimismBad DayGreat StuffEconomyLost ClientSomeone DiesPOSITIVEPOSITIVEPOSITIVEPersistenceEventResponseOutcomePOSITIVEPOSITIVE
- 19. Life and Business Mastery...BEDOHAVEX=ThougtsActionsResults
- 20. Formula for bothPersonal and BusinessSuccess…(V) X (G) X (P) X (A) = SVisionGoalsPlansActivitiesMeasure both Personal and Business
- 21. Formula for bothPersonal and BusinessSuccess…(V)X(G)X(P)X(A)=SRate each category 1-10On both a personal and business levelA perfect score would be10 X 10 X 10 X 10 =10,000
- 22. Formula for bothPersonal and BusinessSuccess…(V)X(G)X(P)X(A)=S10 X 10 X 10 X 10 =10,000What if…Personal was low…2 X 2 X 2 X 2 =16And Business was high…7 X 7 X 5 X 5 =1125
- 23. What do all great companies do?Starbucks, Ritz Carlton, Nordstroms, Apple…Customer ExperienceWOW Factor“Raving Referrals”Reputation/BrandCustomer Mgt ProcessEffective and EfficientDoing the Right Things Right Internal & ExternalRight People, Rules of the Game, Beliefs/ValuesLearning/Growing/Changing“People + Culture”TeamRight People on Bus...Right Seats...Doing the Right ThingsLeadershipVision, Strategy,CommunicationSetting the barKeith Cunningham, “Keys To The Vault”
- 24. Quoting Richard Branson ...“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.”
- 25. Strategies for Recessionary MarketsMany business owners and professionals become paralyzed, literally frozen in fear…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 backYou can either be inactive and reactive or you can be proactive, creative and innovative. Doing nothing strategy leads to loss of customers and sales. If you are not growing… you are dying!Have you postured yourself and your business with a Strategy to survive and flourish now and when the economy turns around!
- 26. SuccessesChallengesOpportunitiesBHAGIssuesWhat are the RIGHT THINGS to FOCUS on?Core ValuesBragsBrand PromiseThreatsKey Thrusts and Capabilities2424
- 27. Great Advice for Tough Markets ...“It is not necessary to do extraordinary things to get extraordinary results.”World famous investorWorld’s 2nd wealthiest man$48 Billion net worth
- 28. The Economic Facts… without the data!Markets have not disappeared completelySome markets have decreasedSome markets are still growingSome markets are contrarianOutsourced/Leveraged service providers are hot Waiting for the economy makes no sense and is fatalMany of your competitors will failYou must fight harder for your fair and unfair shares… Investing in your business is not an optionEconomies have always cycled back…
- 29. 22 Great Strategies for Recessionary Markets1. Market both efficiently and effectively 2- Invest in Training or Learning3- Evaluate Your Team and Maximize Performance 4- Communicate Now More than ever 5- Quarterly/Monthly Plan for your business success6- Follow up with existing customers 7- Network and Build Powerful Relationships 8- Strong leadership and great attitude is extremely important 9- Daily/Weekly/Monthly/Quarterly KPI & Business Reviews10-Manage Cash Flow/Cash Gap/Cash Conversion Cycles
- 30. 22 Great Strategies for Recessionary Markets11- Co-market with complimentary companies 12- Seek Referrals from clients and alliances.13- Develop Customer Retention Programs14- Create lighter versions/entry services/products15- Leverage the internet16- Build innovation into all business processes 17- Clearly differentiate vs. key competitors 18- Add complementary products/services or expand geographically19- Build faster sales cycles20- Trim the fat/Eliminate non-producing assets21- Focus on and Work on the Critical Drivers22- Hold sacred life/work balance
- 31. Leveraging Great Relationships“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
- 32. Leveraging Key RelationshipsYour CoachTrusted AdvisorsBoard of DirectorsInformal NetworksStrategic Partnerships/AlliancesEntrepreneursKey VendorsTop ClientsCommunity LeadersLearning Organizations
- 33. The Long-term Business Landscape Has Forever Changed…Redefined Competitive MarketsAccounting and FinanceBusiness FinancingBusiness ValuationIn-house vs. Out-sourceEffectiveness and EfficiencyPlanning, Planning, Planning… Execution…Testing and MeasuringRate of Change…Unique Selling Proposition/DifferentiationNever Stop Building LeverageCustomer ExperienceInnovation/CreativityLeadershipEmployee Performance/ContributionLearning/Training/Growing/Thinking Organizations
- 34. So What do truly great businesses do in any economy?
- 35. 2009 Fast Company’s World’s Most Innovative CompaniesTeam ObamaGoogleHULUAppleCiscoIntelPure Digital TechnologiesWuXi PharmaTechAmazonIdeo Innovation as measured on: promising, enlightened, powerful, entertaining, execution, creativity that will redefine our future and point the way to a better tomorrow“What’s dangerous is to not evolve as a company” Jeff Bezos, Amazon
- 36. 2008 Inc. 500 Fastest Growing CompaniesSenior Whole Health (Healthcare)Eliason Inc. (Real Estate)Snack Factory (Food/Bev)Torres advanced Enterprise Solutions (Govt Serv)Group Gemstone (Real Estate)Just Like Sugar (Food/Bev)Greenline Industries (Energy)Zorch (Web)Harley Stanfield (Real Estate)Amir Amirfar and Asoc. (Arch/Eng)Influence – Trends – Relevant – Hardworking- Passion Ego-cide- Innovative –Niche – Cutting Edge- Innovative Focus – Incensed – Urgency – Speed – Focus “ Whatever it takes”
- 37. 2009 Fortune Best Companies To Work ForNet ApEdward JonesBoston ConsultingGoogleWegmans Food MarketsCiscoGenetechMethodist HospitalGoldman SachsNugget Market Culture – Values – Learning – Fun – Training – Team Creative – Innovative – Great Perks/Benefits
- 38. So, what has to change in you and your business?
- 39. Quoting E. James Rohn ...“Never wish your life were easier ... Wish that YOU were better…”“Work harder on yourself than you do on your job …”
- 40. Thank you!