At our annual Rhythm Systems Breakthrough Conference in Charlotte this year, we had the opportunity to survey our audience of over 150 mid-market executives and ask the question, “What are the top 8 business challenges for mid-market companies?” The term “mid-market” refers to the size of a company based on its annual revenue, usually between $10 - $500 million. It may seem like a big swing to go from $10 million to $500 million, but not so big when you consider that only 3% of all companies ever make it past the $10 million mark.
Rhythm Blog | Chris Cosper
by Patrick Thean and the Rhythm Team
“Innovation is the key to success.”
“If you’re not growing, you’re dying.”
“You must create a culture of continuous improvement.”
Here are three pieces of great business advice I’m sure you’ve heard a hundred times. They all make perfect sense, but like most good advice, they’re easier said than done. The reason they aren’t easy is because they all involve change, and change is hard. Let’s face it; coming up with a new idea isn’t that hard. Creating a plan to implement your new idea isn’t even hard. It’s when you start involving all the people affected by your idea that things get messy.
“Are you kidding me? Have a meeting every day! We already have way too many meetings. The last thing my team wants to do is add another one..... every day.”
Yep, that was me about 12 years ago when my coach, Dan Weston, suggested we implement the daily huddle in my company. I was reluctant, but he made me promise to give it a try. My team was reluctant at first too, but in time, this became one of the most important rhythms in the company. And, not only did the executive team huddle, but the design team huddled, customer service and sales huddled, the engineers huddled and the front line supervisors huddled.
The primary goal of any lean initiative is to drive out waste. Have you considered whether or not you have waste in your quarterly planning process? Many companies, especially complex organizations with multiple business units, locations, product lines, or divisions, struggle to find a way to get their teams focused and aligned around the right set of priorities every quarter. The synergy and momentum you’ll gain when you figure this out will increase productivity, improve employee morale, and help you achieve your goals faster.
Over the past 10 years, we have had the unique opportunity to work with hundreds of companies around the world. Our observations and research, via coaching sessions, planning sessions, and the review of over 125,000 company, departmental, and individual priorities has provided unique insights into what specific habits, patterns, and actions helped these companies execute better and grow faster.
Your planning sessions are important and expensive. Whether they’re Quarterly Planning Sessions, Annual Planning Sessions, or Strategic Planning Sessions, you've invested the valuable time and energy of your most expensive employees – time away from the office,
So, how’s your Daily Huddle meeting going? Over time, it’s easy for this habit to begin feeling a little stale, and you might even start wondering if anyone would miss it if you killed it. They would! And they probably don’t even realize it (so don’t bother polling the team to ask). Instead, be the leader and huddle on!
Sometimes the benefits of the Daily Huddle are so subtle they go uncelebrated, but the truth is, the habit of huddling daily with your team might be the most valuable 10 minutes of your day. The next time you feel like it’s an inconvenient interruption or someone tells you they’re too busy to huddle, keep these benefits in mind.
Whether you are an executive team member, a department leader, or a member of the team, the role you play in the company is unique and important. You are there for a reason and you want to be successful. In order to be successful, you have to understand your purpose, what you are responsible for, how success will be measured, the skills you might need to develop, and the values you must uphold. Role clarity is key to your success, and Job Scorecards are a great way to achieve role clarity.
Is your company consistently getting the results you desire? By results, I mean both top line revenue results and bottom line profit results. It’s quite possible that you may be growing and doing well but still wonder if you’re reaching your full potential. If not, what’s holding you back? Chances are high that the answer to this question lies in one of four critical areas of your business.
Aubrey Daniels is a clinical psychologist who has spent more than thirty years dedicated to helping people and organizations apply the scientifically proven laws of human behavior to improving workplace performance. I first heard him speak at a conference several years ago and remember his ideas as being the most insightful and practical of all the speakers.