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Rhythm Blog | Strategies for Growth

by Patrick Thean and the Rhythm Team

Planning for an Uncertain 2021: Tips to Create Plan A and Plan B

Alan Gehringer Wed, Nov 18, 2020 @ 11:03 AM

We recently held our 6th annual Breakthrough Conference, although it was our first ever virtual conference, and I want to share a few ideas from one of the two sessions I facilitated: Planning for an Uncertain 2021.

These are extraordinary times we are living in right now, and traditional approaches need to be challenged. As we enter into the busiest time of the year for annual planning, I hope you will find these tips useful.

Master Electronics Achieves Over 100 High-Impact Growth Initiatives with Rhythm [Client Spotlight]

Cindy Praeger Fri, Nov 13, 2020 @ 10:14 AM

A better way to scale a family-owned business

How Master Electronics grew from 160 to 450 people by empowering them to make decisions without family input

Riad Nizam is the President of Master Electronics, a leading authorized distributor of electronic components. When Master Electronics became our client over six years ago, they were doing well as a company but it was hard to scale. Without a tool like Rhythm, they would start with a plan but four weeks later, lose momentum. 

In order to scale, Master Electronics had to:

  • Build a culture of trust to empower their employees to make decisions without having the family last name
  • Track their plan and stay focused on the activities that drove their growth initiatives

How to NOT Treat Your Customers

Patrick Thean Fri, Nov 6, 2020 @ 11:03 AM

Apple just released the iPhone 12. It comes in various sizes, finishes and configurations as it enters the world of 5G. Of course I want one. I want one badly. I am such a sucker for innovative technology. I've also successfully convinced my wife that it is part of my job to use the latest technologies so that I can share my thoughts with clients. Yup, it's part of my job—and I love it.

Level 5 Leadership Examples- How to be a Level 5 Leader

Cathy McCullough Fri, Oct 30, 2020 @ 09:00 AM

The Level 5 Leadership Stage is Set…

Have you ever had this "strange" feeling that you just couldn’t shake? I recently went through that. It was after a two-day Annual Planning Session with a newly formed executive team (the company had been through a major transition). It was a great two days but the reality is that as the session began, the “stage” was a bit of a mess because the executive team was fractured in their vision for the company. In spite of that, alignment and clarity of vision were created over those two days. But after the session, my reflective thinking left me feeling suspended inside. It was a strange feeling.

The strange feeling actually began to linger as the two day session ensued; it was just something I noticed but I couldn’t get my mind wrapped around what it was. It was subtle, non-obtrusive yet politely prominent. It just lingered. Upon reflective thinking after the session came the epiphany. It was the CEO. Yet, I still couldn’t pinpoint anything. So, I asked myself: What is it about this CEO that I can’t grasp? What is it? 

Do You Need a Strategy Refresh?

Alan Gehringer Wed, Oct 28, 2020 @ 11:03 AM

There is no better time than the present to work on completing your strategy. You may have wanted to nail down your work on core customer, brand promise or brand promise guarantee. You may need to review your core competencies and refresh the short list. Maybe you are getting close to reaching your Big Hairy Audacious Goal (BHAG) and need to envision a new one.

As many people continue to work virtually, it creates the perfect opportunity to set aside time and schedule a virtual planning session or two. Working virtually allows more flexibility by allowing you to break sessions into 4-hour increments, if desired, and you can schedule the work over several weeks.

Breakthrough 2020: Key Insights and Takeaways

Jessica Wishart Tue, Oct 27, 2020 @ 11:03 AM

One of the best parts of our annual Breakthrough Conference is getting our Rhythm community together to live our core values of Keep Smart, Be Appreciative, Family is a Blessing, No TDC (Thinly Disguised Contempt) and Go the Second Mile. This year’s conference looked considerably different—while we weren’t able to showcase our southern hospitality by having our guests come to Charlotte and enjoy time together in person, we did have an amazing virtual learning experience last week.

Our first virtual conference was a whirlwind of amazing content, and I’ll be thinking about some of the presentations for a long time to come! We heard from amazing speakers and learned a ton from the attendees, as well. In the spirit of our Keep Smart core value, I’m here to share some of our audience’s key takeaways.

Moat Building: 3 Ways to Build Your Moat Around Your Business

Barry Pruitt Mon, Oct 26, 2020 @ 09:00 AM

As you approach planning for another quarter, take a moment to check in on your 3-5 Year Strategy or what he calls Winning Moves. These are specific strategies that have the potential to double your revenue over the next 3-5 years. Many companies lose focus and momentum on these by only discussing them once a year during Annual Planning. Don't be one of them.

One Page Strategic Plan Template (OPSP) for the Rockefeller Habits

Alan Gehringer Wed, Sep 30, 2020 @ 05:52 PM

I have recently been involved in a few conversations with clients that are new to the Rockefeller Habits or to long-range planning. The questions that keep coming up are "Where do I start?" and "Should I first establish my BHAG (Big Hairy Audacious Goal), 3-5 year strategic plan, Core Values, etc.?"  

3 Year Strategic Plan: How to Achieve your 3 Year Strategy

Patrick Thean Wed, Sep 30, 2020 @ 04:00 PM
There are many views or definitions of strategy. Renowned Harvard Business School professor and strategy expert Michael Porter provided one that I like because of both its simplicity and clarity. Porter defines strategy as:
  • The creation of a unique and valuable position, involving a different set of activities.

Porter argues that tactical improvements or operational efficiencies are not strategies but that the essence of strategy is to perform a different set of activities from that of your rivals. For many businesses, regardless of size, strategy work may get completed annually but there is a disconnect between strategy and performance. There have been many books and articles written on the topic of “Execution”.  An Execution framework is critical to be certain, but outstanding execution will not rescue strategy that lacks focus or differentiation. To be successful, a company must master the three areas of Strategic Growth: Strategic Thinking, Execution Planning, and actually Doing the Work.

What is the Difference Between a Primary Customer and Secondary Customer?

Alan Gehringer Wed, Sep 30, 2020 @ 12:00 PM

I have written previously about the importance of identifying your core customer because I have seen far too many companies waste their valuable time and resources selling to and serving the "wrong" customers.  They haven't taken the necessary steps to identify their most valuable customers that purchased the primary product and were highly satisfied.

Your core customer is the one who values what you offer at a price and quantity that is good for both you and the customer and will take you into the future successfully. This is the individual that uses the product, the one you look in the eyes and can put a name to and the one you can’t live without. Knowing who the core customer is will impacts sales in a positive manner.