Mastering the Rockefeller Habits: What You Must Do to Increase the Value of Your Growing Firmby Verne Harnish Published 01 Mar 2002
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What are the underlying handful of fundamentals that haven't changed for over a hundred years? From Harnish's famous One-Page Strategic Plan to his concise outline of eight practical actions you can take to strengthen your culture, this book is a compilation of best practices adapted from some of the best-run firms on the planet. Included is an instructive chapter co-authored by Rich Russakoff, revealing winning tactics to get banks to finance your business. Lastly, there are case studies demonstrating the validity of Harnish's practical approaches.
If you are looking for an expanded and updated version of this 2002 best-seller, look for Verne Harnish’s latest title Scaling Up: How a Few Companies Make It...and Why the Rest Don’t (Rockefeller Habits 2.0). In Scaling Up, Harnish and his team share practical tools and techniques for building an industry-dominating business. These approaches have been honed from over three decades of advising tens of thousands of CEOs and executives and helping them navigate the increasing complexities (and weight) that come with scaling up a venture. This book is written so everyone - from frontline employees to senior executives - can get aligned in contributing to the growth of a firm. There’s no reason to do it alone, yet many top leaders feel like they are the ones dragging the rest of the organization up the S-curve of growth. This book can help you turn what feels like an anchor into wind at your back — creating a company where the team is engaged; the customers are doing your marketing; and everyone is making money. To accomplish this, Scaling Up focuses on the four major decision areas every company must get right: People, Strategy, Execution, and Cash. The book includes a series of new one-page tools including the updated One-Page Strategic Plan and the Rockefeller Habits Checklist™, which more than 40,000 firms around the globe have used to scale their companies successfully — many to $1 billion and beyond. Running a business is ultimately about freedom. Scaling Up shows business leaders how to get their organizations moving in sync to create something significant and enjoy the ride.
"Mastering the Rockefeller Habits: What You Must Do to Increase the Value of Your Growing Firm" Reviews
This guide to leadership and business growth is aimed at businesses larger than mine, so I didn’t find it very applicable at present. It builds on popular business books by authors such as Jim Collins and Stephen Covey. It’s intended for businesses large enough to have an executive/leadership team and an internal newsletter. My web design company, OptimWise, is still quite small (currently me and several subcontractors). Perhaps I’ll get more out of it in a few years.
I like how Harnish emphasizes the importance of setting a vision for the future and creating objective goals to reach it.
Two business owner friends recommended this book when I talked to them about growing OptimWise.
1. Priorities. An objective Top 5 priorities for the year and quarter, and a clear Top 1 priority and appropriate Theme. A handful of aligned priorities for each person in the organization.
2. Data. Daily and weekly data giving insight into the organization’s operation and market demands. Key daily or weekly metrics for each person.
3. Rhythm. Daily, weekly, monthly, quarterly, and annual meetings to maintain alignment and drive accountability.
The “x” factor: identify the bottleneck in your business model and industry and gain control of it.
• “The two most important attributes of effective leaders are their abilities to predict and to delegate.”
• Prediction includes setting a “compelling vision that anticipates market movements.” “Leaders don’t have to be years ahead, just minutes ahead of the market, the competition, and those they lead.”
Mastering the Right People Doing the Right Things
• Research shows that training and developing your team increases loyalty.
• Testing is more accurate and objective than interviewing.
Mastering the One-Page Strategic Plan
“Nothing ever gets done in any organization until it shows up on somebody’s weekly To Do list.”
Mastering Employee Feedback
• “If you solve just one percent of your problems or make a one percent improvement in your products and services each week, you’ll gain greater and greater yields from the solutions with each passing year.”
• Always have 1-2 Critical Numbers. A Critical Number is a key short-term focus that will most affect the company’s future. Ask, “what is the single most important measurable thing we need to accomplish in the next 3 to 12 months?” Change these regularly.
Mastering the Daily and Weekly Executive Meeting
• The faster you’re growing, the more meetings you should have. They will save time, not waste it. Meetings increase the pace of deliverables, harness collective intelligence, reinforce core ideologies, offer opportunities to praise behavior, and help course-correct.
• Recommended meeting schedule: daily 5-15 minutes, weekly 30-60 minutes, monthly 2-4 hours.
Mastering the Brand Promise
• What is your BHAG? BHAG: a measurable goal for where you want to top out in 10 years.
• How do you define your Sandbox - geography, product lines, distribution channels? Who will be your customer in 3-5 years, and who won’t?
• What is the biggest “need” your customers have, distinguished from all their “wants”? The need is what really matters to the customer. It also demonstrably differentiates you from competitors.
• What is your measurable Brand Promise? The Brand Promise is the key factor that differentiates you from competitors and drives all executive decisions.
• What is the bottleneck/shortage/chokepoint in your sandbox/industry and how are you going to control it?
• What are you going to do to utilize technology? Stay ahead of the competition.
How-to versus theoretical book. Enjoyed it.
"If you want to teach people a new way of thinking, don't bother trying to teach them. Instead, give them a tool, the use of which will lead to new ways of thinking." Buckminster Fuller.
1. Have a handful of rules.
2. Repeat yourself a lot.
3. Act consistently with those rules.
Three underlying habits of a growing firm:
1. Priorities: Does the organization have Top 5 Priorities?
2. Data: Does the organization have sufficient data on a daily and weekly basis?
3. Rhythm: Does the organization have an effective rhythm of daily, weekly, monthly, quarterly and annual meetings?
You only have to decide two things: Where you plan to be 10-25 years from now and what you have to do in the next 90 days?
You don't have a real strategy unless you pass these two tests: What you're planning to do really matters to your existing and potential customers; and second, it differentiates you from your competition.
If you can't afford the people to run your business, then all you have is a job not a business.
What is the Critical Number right now?
The two most important attributes of an effective leader are the ability to predict and to delegate.
Книга «Правила прибыльных стартапов» в оригинале называется «Mastering of the Rockefeller Habits», что дословно переводится как «Освоение привычек Рокфеллера». Это название менее понятное и куда менее сфокусированное, чем перевод, выбранный издательством. Но оно чуть более честное и объясняет, что именно вы прочтете в книге. Уже на этапе названия вам становится понятна основная мысль. Шикарный подарок! Посему, рекомендую не пренебрегать беглым просмотром форзаца с названием книги на языке оригинала.
«Правила прибыльных стартапов» окажется максимально полезным чтением, если вы уже успели вырастить небольшую компанию, но совершенно не понимаете, как сделать из нее большую и преуспевающую. Едва начинающим свое дело предпринимателям книгу можно читать вскользь: понять основные положения, но детально разобрать их позже, когда понадобятся. А понадобятся непременно!
Эта книга — не Rework, она куда менее эмоциональна и более прагматична. А посему более сложна и даже несколько занудна. И если Rework служит вдохновнием, топливом, то «Правила прибыльных стартапов» — это подробно расписанные действия. Начинающий предприниматель может испугаться такой книги, слишком сухо и конкретно все написано: надо многое пометить, запомнить, перечитать. Успешный управленец может пренебречь такой книгой, решив, что без предложенных инструментов можно обойтись. Поэтому абзацем выше я обозначил именно такую целевую аудиторию: владельцы компаний, нуждающихся в понятном и прогнозируемом росте.
The difficulty of "Mastering the Rockefeller Habits" by Verne Harnish was that it was a bit hard to overcome but after a few pages i got used to the writing style. What i liked about this difficult book is that it is advanced for my age or grade, but this gave me the confidence to read advanced books in the future that i felt i couldn't of have in the past. The reason i feel this was a big advantage for my life and advancement in my reading is because i want to be very successful on Wall Street and what is better to learn from the habits of Rockefeller himself.
The other gave a clear understanding of how and what it takes to be successful in the world of finance, business, and so-called "people skills." After reading this book and made realize that i had only scratched the surface of the whole new world that I, not now, but soon will be accustom to. I understand many people, outside of the business world incredibly dislike John D. Rockefeller. However, i also believe that people don't understand what he does, how well he does it, and why. After finishing Harnish's book, i would concur that people that don't understand, would then come to the realization why Rockefeller is truly an artist of his craft.
A quick synopsis of this book are ways of quickly, astonishingly improving and becoming your, of your future, business firm. Things that were said mainly focused on keeping employees or co-workers happy, keeping sales up no matter what, and be educated as possible which leads to the best decision making. The only con i had was that maybe Verne Harnish was writing vicariously through Rockefeller's life. I felt this way because there were no quotes from Rockefeller and none of his own opinions. Anyhow, i would still overall recommend this book if your into this lifestyle choice or you are just intrested in the topic itself. I hope everyone who comes across this book enjoys it as much as i did.
Hi Mr. Ambrose.
Лучшая книга для предпринимателя малого и среднего бизнеса о том, как развивать и растить свою компанию. Методики из книги применяю до сих пор.
I agree with the catalyst behind this book; most companies are misaligned, lack focus and have robust oxymoronic networks of un-prioritized activities. In Mastering the Rockefeller Habits, Harnish provides practical advise for top-down alignment. He keeps topics simple and gives his readers access to a ton of free content, mostly templates used as tools for organizational alignment. Like all template-based strategy worksheets I've seen, his templates are mostly useful for communicating strategy decisions, however are limiting for strategy development. However, they are definitely a great perk. I'd recommend this read for folks leading an organization or department and I imagine it could be particularly useful to entrepreneurs that are practicing their craft without a strong Business Administration background.