Top three habits of fast-growing companies
At the recent Colorado Capital Conference, award-winning entrepreneur Ryan Martens, co-founder of Rally Software, shared one of his secrets to growth and success: the Rockefeller habits.
From my experience as a business coach, I know the habits are helpful. That is why we are using them in my new company Radish Systems (www.RadishSystems.com ) along with the ‘Pursuit of Passionate Purpose’ success model. Here are practical pointers on three of the 10 best habits of fast-growing companies:
1. Core idealogies are ‘alive’ in the organization.
• Discern your values. This is the foundation upon which to build and run the company. When people are doing work that is inline with their values, they find more meaning. Meaning is one of four essential elements for intrinsic motivation and passion.
• Know your core purpose. Why do you exist? Establish a vision of what you would like to see happen and quantify it with a 10-25 year goal(or Big Hairy Audacious Goal or BHAG®). A vision is a dream with a plan.
• Regularly check in to ensure your team lives these idealogies. Share stories of employees who represent the values, passion and purpose.
2. Communication rhythm is established. Information moves through organizations accurately and quickly.
• All employees are in some kind of a daily and weekly huddle. The faster you want to grow the more you need to communicate. Really!
• Huddles cascade from senior management to frontline or vice versa.
3. Everyone aligned with the No. 1 thing that needs to be accomplished this quarter to move company forward. [This is the plan you are working to achieve].
• Top priorities or rocks (no more than 3 to 5) are identified and ranked for the quarter
• A critical number is identified and aligned with the #1 priority
• A quarterly theme is established that brings the key priority / Critical number alive
• A scoreboard for the critical number is posted and theme announced
• All employees know what the Celebration / Reward will be.
Case Study. As we formed Radish Systems, we established and documented our core ideologies including our values, core competencies, passion, purpose, vision and BHAG. They are posted on our one-page Strategic Plan which we refer to regularly. We have experimented with different meeting rhythms – while this is still a work in progress, we know that more, regular meetings are helpful.
During our annual and quarterly planning sessions we established our priorities, critical numbers and theme. The biggest challenge has been clarifying the critical number that is relevant and easy for all. While implementing the Rockefeller Habits is a journey or process, it is helping us align, learn and grow. It is true: routine sets you free.