Rhythm Blog | Patrick Thean

by Patrick Thean and the Rhythm Team

How CEOs Succeed - Achieve a Top Valuation through Strategy Execution [Client Spotlight]

Patrick Thean Thu, Dec 6, 2018 @ 11:05 AM

Congratulations to Jeff Berstein, and the ImageFIRST Team! Calera Capital, a private equity firm, acquired a majority share of ImageFIRST, allowing Jeff and his team to successfully achieve their dreams. This unique win-win deal provides the following for key stakeholders:

How Successful Leaders Set Goals to Finish the Year Strong [Video]

Patrick Thean Tue, Nov 6, 2018 @ 11:00 AM

It’s time to plan your fourth quarter and finish the year strong! One of the reasons plans fail is due to poorly defined goals and priorities. Most people think that they have finished their plan when they have had good discussions during quarterly planning sessions and come up with their top 5 priorities for the quarter. “Hey, we are all aligned and ready for the quarter!” Not so fast. You need to make sure that your goals and priorities are well defined and SMART (Specific, Measurable, Attainable, Realistic, Time bound).

Expert Annual Planning Tips [Interview]

Patrick Thean Thu, Nov 1, 2018 @ 11:21 AM

During Q4, many companies begin to think and plan for the next year. To gain insight into the process and importance of planning for the upcoming year, my team interviewed me. After all, I am an Amazon best-selling author of two books: Rhythm and Predictable Results, and I've helped hundreds of companies with this process.

Question: Patrick, so annual planning time is rolling around again. Are you still looking forward to helping companies develop their plans, and if so why?

Patrick: Oh, I love this part of the year, when people are thinking and planning for the next year. It is a good practice to take stock, learn what went well and what did not go so well, and dream about how to do much better next year. This is a very important process that can really influence whether you have a great year or not.

CEOs: Create a Strong Quarterly Plan to End the Year [Video]

Patrick Thean Tue, Oct 23, 2018 @ 11:00 AM

A new quarter is upon us. It is time to learn from the quarter that just ended and develop a killer plan to end the year strong. I believe in the power of planning short 13-Week quarters. This helps you to visualize how the quarter should progress, and what the outcomes should be at the end of the quarter. It also protects you against failure. If something is not getting done, you are forced to account for it at the end of a quarter. You can’t wait till the end of the year and get blindsided by projects that are not getting done. If you only look at your execution plan once a year, there is less accountability and even with the best intentions, it is easy for things to fall behind and pile up into the fourth quarter.

Don't Just Spend the Budget: Design an Effective Annual Planning Process

Patrick Thean Tue, Oct 16, 2018 @ 11:00 AM

Many companies begin their annual planning process by first creating their annual budget. Then they bring the budget to their annual planning session. This process has some inherent limitations:

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.

Why CEOs Must Solve People Issues to Achieve Breakthroughs

Patrick Thean Tue, Oct 2, 2018 @ 11:00 AM

My previous blog shared about how people issues might be mistaken for execution issues. There are a number of reasons why it is difficult to solve people problems in growing companies. Most of these reasons come from an emotional place of fear. Fear paralyzes us even though logically we know that people issues don’t go away with time. They don’t work themselves out. In fact, they usually become much worse. These baby elephants grow quickly into large elephants.  

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.  

Leadership is Key for Breakthrough Results

Patrick Thean Tue, Sep 18, 2018 @ 11:00 AM
Leadership is critical to achieving breakthroughs. Breaking this down into something tangible, that means having strong managers who can lead and inspire team members to perform well and deliver results. If you want strong performance and profitable results, focus on developing all your managers into “A” managers. Your managers are the main levers to delivering strong and predictable results. 

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.