I invite Early to Rise readers to return to the book, The Rockefeller Habits, for another reading with me. I first read this book last April, and started re-reading it again this week.
This book is a compilation of best practices adapted from some of the best-run firms on the planet, and I recommend reading it in tandem with The Perfect Day Formula (get a free copy here!)
These are two of the most important business books I have ever read. The Rockefeller Habits, for instance, contains ZERO filler. Instead, it’s a complete blueprint to preparing a business for maximum growth.
It changed my life last year by getting me to shift my thinking over to a Mission-based business for my Turbulence Training website. My business has changed dramatically in the last 12 months because of it.
But that’s not the only important idea you’ll take from the book. In fact, there are 5 essential habits for business success that you can take from the Rockefeller system, including:
1) Picking Priorities
In the Rockefeller Habits plan, you’ll pick 5 main priorities for your year, and of those you’ll focus on one main priority each quarter.
In my business, last quarter’s priority was launching my Turbulence Training Certification, and this quarter I’m focused on tripling the size of my email list and creating a product for InternetIndependence.com.
2) Create a Communication Rhythm
One of the most rewarding “tasks” that I do in my business each week is a 300-500 word Friday update that goes out to my team.
I highlight our successes, point out exceptional efforts by team members, illustrate how we put our core values into play, and get them excited about what’s coming next.
This is just one aspect of increased communication recommended in the Rockefeller Habits.
The book even recommends a “daily huddle” (5-minute “War Room” meeting), which I’ve also implemented to take place every morning at 830am on the dot.
Finally, reading the Rockefeller Habits inspired me to have our first TT Team Meeting, where all virtual members traveled to Chicago to meet in person, and it was an incredible experience. This year we’ll be meeting in Toronto.
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, a cost-efficient sales process, or 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.
Some of the info may seem esoteric, but if you’re really serious about creating a successful business, you’ll follow through on these 5 habits.
On the other hand, if you’re just about a quick buck, we may as well part ways now, because you won’t like any of the info I bring you in future emails.
So as for this month, I’ve got a book on my plate. But I’m always looking for the next book to give me a competitive edge…
All killer-no filler please,
“Don’t be afraid to give up the good to go for the great.” – John D. Rockefeller