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Last week I attended Verne Harnish’s Growth Summit here in Sydney. It was great to get a shot in the arm – ie inspirational learnings. We have implemented so much of Verne’s Rockefeller habits over time. In fact, Verne shot some video of how we have applied this to our business, which I share in future blogs
I went specifically to have two questions answered.

  1. How do I continue to play a bigger game – without fear of the economic climate?
  2. What if…? How do we ask the right questions to ensure that we stay nimble and responsive as we grow?

I share with you a few clear takeaways.

  • Our job [as CEO] is to keep delivering ideas to the business – so we must keep learning – We must spend time learning especially in tough times.
  • What is the right question to be asking? Fewer statements more questions will reveal the way forward.
  • Talk less – Listen more
  • If you can’t measure it you can’t manage it.
  • Whoever has the best intelligence quickest wins – ie spotting trends quickly
  • What is the number 1 thing we are focusing on for the trimester/quarter
  • It must stay absolutely true and in alignment with the BHAG – is everyone playing for the same BHAG?
  • What will block the competition from entering our marketplace – the x factor (What do we hate about this industry or the way business is done – what are we prepared to take on that no one else in the industry will?)
  • How can we reduce the cost of acquisition of a customer ten fold?
  • How can we reduce the cost to serve, but increase the customer experience?
  • Marketing is the key to continued growth – marketing is about acquiring relationship
  • You can’t have great customer relationships without highly engaged people
  • Who is accountable in the business for customer advocacy?
  • Whoever taps into the most brains wins
  • Do we listen for our black swan moment? Where will the ‘big idea come from?
  • How do we capture ideas from customers consistently – “I’m not smart enough alone!” – Michael Dell on Ideastorm.com
  • How many outbound customers calls do senior leaders make spontaneously each week?

An insight into growth opportunities in a downturn:

    • “I will not accept the explanation of a recession negatively affecting the [new] business. There are still people travelling. We just have to get them to stay in our hotels.”

Horst Schulze – Ritz Carlton.

Grow & Scale Your Business by Naomi Simson

Tell Naomi a little bit about your business by completing the questions below. (It will take less than 60 seconds)

Answering your #1 Biggest Business Challenge question tip: 

Go beyond just saying "Poor Cashflow" or "Unreliable Team". 

Instead, give Naomi details & specifics on how this is currently your #1 Biggest Business Challenge. 

I.e. "Every month I'm struggling to pay my bills on time because there just isn't consistent cash flow coming into the business. I've tried sticking to budgets in the past & pay myself less to keep some extra funds aside for emergencies, but still every month there seems to be another financial fire to be put out. I don't know what to do about it, so I'm just grinding it out."

 

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