Rhythm Blog | Strategy Execution

by Patrick Thean and the Rhythm Team

Adjust Like Elon Musk and Tesla to Achieve Your Dreams and Goals

Patrick Thean Tue, Oct 9, 2018 @ 11:00 AM

How badly do you want to achieve your goals? Many people quit too early, at the first sign of distress or the first pangs of pain. Tesla has been single-mindedly focused on delivering a large number of Model 3 EVs (Electric Vehicles) in Q3. CEO Elon Musk stated that this would be the strongest delivery quarter ever! And it was.

Tesla entered Q3 swinging for the fences. Elon Musk said they went from production hell to delivery logistics hell. Their story is straight out of the book The Goal by Eliyahu Goldratt. The Goal talks about constraint based planning, the idea that your manufacturing production is really a flow, and that there will always be a bottleneck in your system. And when you solve that bottleneck or constraint, another bottleneck shows up in your system. Two quarters ago, Tesla was fighting hard to produce 5,000 cars a week. Their bottleneck was in manufacturing. Then after they solved it, the bottleneck moved to their ability to deliver cars.

How Much Time Should I Allocate for My Quarterly Planning Session?

Alan Gehringer Fri, Sep 28, 2018 @ 12:00 PM

By failing to prepare you are preparing to fail – Benjamin Franklin

It is that time of the year again: time to prepare for your quarterly planning session. A question that I get frequently is, “should we plan for a one-day or a two-day quarterly session, and what do most of your clients do?”

Accountability: Trust, But Verify (I'm Gonna Miss Krispy Kreme)

Barry Pruitt Thu, Sep 27, 2018 @ 11:00 AM

If you’re from southeastern USA, you know full well how delicious a hot Krispy Kreme doughnut can be. The anticipation of that sweet savory melting-in-your-mouth moment is something to look forward to.

Recently, while enjoying a long weekend in Boone, NC, my wife realized she had received a coupon from RetailMeNot, an online coupon company from Austin, TX. The coupon was for a free lemon-glazed Krispy Kreme doughnut. I was intrigued. I had never considered a lemon-glazed doughnut, but it sounded like it might be good. Besides, I might get lucky and find the “Hot Doughnuts” sign lit. So off we went. As we approached, “Eureka!” I thought to myself, the “hot doughnuts” sign was lit! This guarantees a great experience just like I remembered.

How CEOs Should Diagnose the Root Cause of Missed Growth Strategies

Patrick Thean Tue, Sep 25, 2018 @ 11:00 AM
Jack   asked   me  to review his execution plan. His team was missing their profit and revenue goals, and he wanted to figure out the problem and get his company back on a positive path. His initial instinct was to question if he had the right execution plan. Did he have the right goals or objectives coupled with the right KPIs (Key Performance Indicators) to track and measure their success? His second question was whether their growth strategies were working. I   asked  him why he was thinking that way.  

How to Manage Your Time Effectively as a CEO [Infographic]

Jessica Wishart Thu, Sep 6, 2018 @ 11:00 AM

CEOs are being pulled in a million different directions by several important constituencies. They have to answer to direct reports, employees, investors, customers, partners, vendors, industry groups, community stakeholders, and in some cases politicians and the media as well. And, that's not including family, friends, and significant others.

Even the most extraverted CEO will come to find the job exhausting, especially since so much of it involves the need for the CEO to have carefully thought through strategy and people decisions. When are you supposed to have the time to think about the future of the business when you're in meetings all day? Not to mention, when are you supposed to sleep?

Recently, Harvard researchers conducted a detailed study of how CEOs are spending their time, both at home and at work. The results are interesting.

F.R. Drake Featured in OEM Magazine [Client Spotlight]

Tiffany Chepul Tue, Sep 4, 2018 @ 11:00 AM

Hearty congratulations are in order for Rhythm client F.R. Drake!

F.R. Drake is a leader in the food equipment industry. They have consistently grown through acquisitions and market expansion. Today, they hold the largest global market share in the frankfurter loading system space.

Why Personal Productivity Can Only Get You So Far

Jessica Wishart Thu, Aug 30, 2018 @ 11:00 AM

I like to think of myself as a highly organized and productive person, and I like reading about and experimenting with tips and methods for improving my productivity and time management skills. Truthfully, however, being personally productive can only get you so far - it’s only one piece of the puzzle for most of us. While being effective and personally accountable to accomplishing your top goals may be all you need as an entrepreneur or freelance worker, if you work in an organization (either as a leader or an individual contributor), you may be as personally productive as humanly possible and still not be effective.

How to Make Data-Driven Adjustments to Hit Your KPIs [Example]

Jessica Wishart Thu, Aug 16, 2018 @ 11:00 AM

For many CEOs and executive leaders, the idea of having a system in place to allow you to see where you are off-track with the company’s goals or heading for a train-wreck so you can make adjustments before it is too late sounds appealing. Having a dashboard where you track KPIs is a great way to accomplish this, but in order to make the right adjustments to hit your goals, you need to follow a process to set yourself up for success—having the dashboard isn’t enough.

Simply seeing that the numbers aren’t coming in the way you had hoped won’t automatically fix the problem. Once your dashboards alert you to a problem or opportunity, you have to do the work necessary to course-correct and hit your goal. You need to be clear about your goal; you need to identify the levers that could potentially help you get there; and you need to gather the necessary data, have the right discussions, and make adjustments along the way.

No, Your Strategy Does Not Suck - You Just Have Too Many Good Ideas [Video]

Patrick Thean Fri, Aug 10, 2018 @ 11:18 AM

“Patrick, my strategy sucks! I am not getting the results and growth that I want. What should I do?” I get this question quite often. On the surface, it appears that your growth strategy is not working. When I ask a few more questions, often I find the strategy or Winning Move is just fine. It’s actually the execution of the growth strategy that is flawed. Most entrepreneurs suffer from the disease of “not being able to say 'NO' to a good idea." So we overeat from the buffet of opportunity, and have too many important initiatives. 

3 Pitfalls to Avoid When Developing Your BHAG

Jessica Wishart Wed, Aug 1, 2018 @ 09:30 AM

A key piece of your long-term strategy is your 10-25 year visionary stretch goal, what Jim Collins calls your Big Hairy Audacious Goal (BHAG). Your BHAG is so important because it helps you grow with purpose. It should provide guidance and help you and everyone else in your company choose between the opportunities that arise as you continue to grow.