When Verne Harnesh wrote Scaling Up he documented many of the lessons from Rockefeller.
These are core themes that you can see in almost every major successful business.
While the focus of his book is for medium sized companies (think 10-250 headcount) the lessons here are applicable everywhere.
Quick book nerd note. If you read any of the following books, you’ll see Rockefeller’s habits again and again. Each book has its own core focus and lessons but these common themes and lessons emerge.
- Traction by Gino Wickman
- Clockwork by Mike Michalowicz
- Good to Great by Jim Collins
Here are the key takeaways from Scaling Up:
1. People
The heart of your business is people. You need the right folks in the right places. Think about who’s on your team and how they fit. It’s like putting together a puzzle, each piece is different but important.
2. Strategy
Craft a strategy that’s not just sound but also easy to understand and communicate. It should clearly define your core customers and your unique value proposition. A great strategy is one that drives sustainable growth and sets you apart from the competition.
3. Execution
Flawless execution is non-negotiable. Develop robust systems that ensure smooth operations. It’s about doing things effectively and efficiently, with a relentless focus on quality and customer satisfaction.
4. Cash
Cash flow is the lifeblood of your business. Effective cash management ensures you have the financial resources to support growth and overcome challenges. It’s not just about profit; it’s about maintaining a healthy cash flow to fuel your scaling journey.
Talk soon,
Lloyd
PS – Need some help with People and Execution? Let’s chat.