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Rhythm Blog | Strategies for Growth

by Patrick Thean and the Rhythm Team

Setting Your Big Hairy Audacious Goal (BHAG)

Ted Skinner Fri, Jul 26, 2019 @ 02:10 PM

Milestones throughout the year give us an opportunity to recalibrate and look at areas that need improvement. For the crowds at the gym in January, it’s the New Year’s Resolution to get in shape or lose some weight. For students, it’s the school supply sale in August, a fresh bag of school supplies and possibilities for a great year ahead.

For businesses, when do you stop and recalibrate, beyond your own quarterly and annual meetings to check progress on your long term goal? What’s next? Do you have a goal in mind that makes you take a big gulp if you even dare to say it out loud? If so, you’ve got the beginnings of a Big Hairy Audacious Goal or BHAG (pronounced bee-hag.) Congratulations! You’re getting ready to push your company forward in a big way, but in order to do that, you need to give yourself some time to plan and strategize.

KPIs, Culture, and Habits to Improve On-Time Delivery

Alan Gehringer Fri, Jun 28, 2019 @ 11:05 AM

I previously wrote a blog titled 21 Production KPI Examples to Improve Manufacturing Performance, and many people were interested in learning more about how to measure and improve on-time delivery, one of the specific KPIs I mentioned. I am often asked how to improve on time delivery in manufacturing companies.  The on time delivery KPI time as one of their most important Key Performance Indicators as it is directly related to customer satisfaction and repeat orders.  So, let’s dig a little deeper into effective ideas to improve on time delivery.

What’s Your Customer Engagement Strategy?

Jessica Wishart Thu, Jun 27, 2019 @ 11:03 AM

Regardless of what kind of business you are in, your customers pay for breakfast, lunch, and dinner. You probably have a strategy for growing your business and growing your team; you better also have a strategy for your customers. In most cases, the cost of acquiring a new customer is far greater than the cost of retaining and growing the revenue from your current customers. According to an article in Forbes, “Increasing customer retention rates by 5% increases profitability by 25% to 95%.” Turning your customers into advocates can also result in referrals and generate new logos for your company as well. According a study cited by John DiJulius, customer experience leaders outperform the market, generating a total cumulative return that was nearly three times greater than companies who lag in this area; “We now have proof that [customer experience] is actually one of the highest returns on investment a company can make."

Why You Can't Miss the 2019 Breakthrough Conference

Jessica Wishart Thu, Jun 6, 2019 @ 11:04 AM

"Spectacular keynote speeches, incredibly, relevant, informative breakout sessions. Thank you!"

“Loved the human element of business that these sessions brought to the conference”

“Very powerful speakers on Breakthroughs… keep it up!”

“Just kudos. I really enjoyed the speakers. Great insights!”

"The registration/check in process was fantastic! Easiest and friendliest group of people. Thank you!”

The secret’s out - our attendees love our Breakthrough Conference. We have some clients who have attended and brought their teams every single year. Want to know what you’ve been missing? 

Scaling Up Your Business with Rockefeller Habits 2.0 With These 16 Questions

Barry Pruitt Fri, May 31, 2019 @ 11:00 AM

It’s summer. Bright blue skies, puffy cotton candy-like clouds, and colorful flowers abound in gardens everywhere. This description is also a metaphor for the mindset and optimism of entrepreneurs. And in that mindset, like an approaching hurricane for your garden, lies danger not yet encountered. In fact, even serial entrepreneurs make minor mistakes that wreak hurricane-like havoc on their carefully planted business. You need a contingency plan for health and safety prior to a hurricane, and you need a contingency plan for when things go wrong, or you’ll never be able to be successful scaling up your business.

The approach of detailed business contingency planning is one for growing an established business. I won’t address that in this blog as the pattern I’ve seen is that so few entrepreneurs and their business make it to the established, growing stage. I’ve seen many get stuck at $15-50mm in revenue while struggling to break past their growth barriers. My advice here is targeted to those companies. If your business is larger, let this be a reminder of the contingency basics. And, if you have a larger business that doesn’t have contingency planning in place, let this be a warning.

The Five C's of Leadership and Team Accountability (Updated for 2019)

Cathy McCullough Fri, May 31, 2019 @ 09:00 AM

From a leadership perspective, there’s a real thirst for increasing leadership accountability. Executives have recently asked me various questions that linger over the concept of building team accountability to help them achieve their strategic plans while creating high performing teams:

“How do I build accountability in teams?

What else can I do to get people to do what we need them to do?”

“How can I hold a team member to be held accountable and still be seen as a good leader?”

"How do I balance leadership accountability and personal accountability when building a team?"

Building team accountability requires that we understand a few dynamics because it’s more complicated than we might recognize.  It goes above and beyond the responsibility for the outcomes, which is obviously important, but effective leaders know that they need a culture of accountability in their teams that provide the inputs needed to achieve the expected team performance.

4 Types of BHAGs: Which One is Right for You?

Liz McBride Fri, May 31, 2019 @ 09:00 AM

Suppose you and your team have been in a Think Rhythm to determine what Jim Collin and Jerry Porras call your Hedgehog concept.  Defining your hedgehog and BHAG (pronounced bee hag) gives you a powerful mechanism to help you strategically plan for growth.

Specifically, the intersection of these three questions:

  • What are you deeply passionate about?
  • What can you be the best at in the world?
  • What drives your economic engine?

Now comes the easy part, right? Simply take that information, determine where these three questions intersect and craft a long-term goal that drives on that intersection - your BHAG or Big Hairy Audacious Goal. Are you having writer’s block?

CEOs Need an Enterprise Business Execution Platform

Ryan Walcott Thu, May 16, 2019 @ 12:43 PM

Have you ever wondered just what is going on in your business, how well things are going, and why? How can you know for sure that your people and teams are focused and aligned to achieve your long-term growth strategies and goals? How can you ensure you are doing the right things to attract the best talent and keep them happy in your company so they won’t leave you? These are all questions that an Enterprise Business Execution Platform can help you answer.

How to Scale Growth

Alan Gehringer Thu, May 9, 2019 @ 11:04 AM

Your business is experiencing strong growth – now what? Double-digit growth brings with it a host of new challenges, particularly how to effectively scale as you grow without imploding.  Often growth and scaling are used interchangeably, but scaling means growing your revenue faster than your costs - IE profitable growth.

I had the opportunity in my early thirties to work for a very fast growth company. I remember hearing the founder say, "We can be as big as we want to be and grow as fast as we want to." I felt like I was riding the biggest wave you could imagine and what a thrill it was!

How to Build a Culture of Continuous Improvement

Jessica Wishart Tue, May 7, 2019 @ 11:40 AM

Innovation comes in all shapes and sizes - some big improvements for your business can be born from small, incremental changes. It can be tempting to think of innovation as that mountain-top revelation or the lighting bolt idea. While glamorous, this vision of breakthrough improvements is misleading—most innovation comes from incremental improvement on ideas over time with continual process improvement . Cultivating a culture where every person is empowered to improve the processes, systems and tools they use to get work done can make a tremendous impact.