Rockefeller Habits: Essential Habits for Business Growth
1) Picking Priorities
In the Rockefeller Habits plan, you’ll pick 5 main priorities for your year, and of those you’ll focus on 1 main priority each quarter.
2) Create a Communication Rhythm
One of the most rewarding “tasks” that we do in at DeLoach each week is our weekly Wednesday meetings. We highlight our successes, point out exceptional effort by team members, illustrate how we put our core values into play, and get them excited about what’s coming next. We have a weekly update system that every one of our team members provides, and that way we stay on top of all the work with a quick review each week. This is just one aspect of increased communication recommended in the Rockefeller Habits.
3) Drive on Data
Don’t be mistaken, The Rockefeller Habits is not just about communication or “touchy feely” subjects. The author, Verne Harnish, knows that it is data that drives key business decisions, and he insists that you identify the key metrics in your business that determine success. Only when you’ve identified the key metrics that drive your business will you be able to truly grow and succeed.
4) Identify the X Factor and Open It Up
Harnish identifies the “X Factor” as the chokepoint in your business model that must be identified and overcome. It may be website traffic, or a cost efficient sales process, or it may be creating a profitable back-end that allows you to spend more money to get leads. Again, it’s data driven, and you must be tracking your numbers. This is also a never-ending process. Once you’ve overcome one X-Factor, it’s time to identify and overcome the next, to continually grow your business.
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”. In fact, Harnish says there are only two time-frames that matter: 90 days and 10 years, and nothing in between. Your 90-day plan is data driven, and you’re focused on overcoming the chokepoint. The 10-25 year plan is driven by your vision and mission.As long as you stay focused on those two paths, there’s little need to focus on a 3-year plan.