My New Book; Bobby Bowden on Leadership; two celebrity CEOs; Less Doing, More LivingMarch 13, 2014
#1 Leader; Market Leader; #1 Leadership Skill; Clinton on Leadership; Mumbai and DelhiMarch 27, 2014
"…out-learning the competition"
We are a $150 million a year revenue company and continue to grow 40% plus annually. The organization is thriving on "Gazelles' Growth Drugs" with daily stand-ups, meeting rhythms, war rooms and strategic planning processes fully integrated into the DNA of the company. The result: we are executing on our strategy, and with a recently completed $40 million financing we are accelerating our growth through strategic acquisitions.
Jason Smith, President & CEO
Lessons from the Mayo Clinic — complimentary online screening March 26, 2pm (all time zones) – more details below, but first…
Ben Horowitz's Five Lessons — we've been after him for several years, who I consider the most innovative and straight-shooting CEO advisor in the world (Zuckerberg and others have benefited from his council), best biz blogger, and the #1 "non-VC" venture capitalist who helped broker the Skype deal to Microsoft for $8 billion, etc. Anyway, he's coming to Vegas to keynote the Growth Summit Oct 28 – 29. GazellesPro and book club members will receive his book The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers. On the cover of FORTUNE magazine this month, here is a short article highlighting five (of many) quick lessons from his book:
- CEOs should tell it like it is
- There is a right way to lay people off
- Company perks are good, but they are not culture
- There are only lead bullets (no silver bullets)
- You must screen for the right kind of ambition
If you read only one article this week, take 2 minutes to absorb the details of these five lessons.
Forget ROE or EBITDA — meet COROA, or "cash operating return on assets." Notes FORTUNE in an article on this key metric, "What's the best, gimmick-proof way to measure how profitable companies really are? Answering that question gets to Warren Buffett's view of investing: Finding companies that consistently generate big returns on capital — not only on the capital they manage now, but the fresh earnings that flow in each year." In essence, you want to look at the net cash the business generates each year divided by every dollar spent on the assets that produce those cash flows. There are specific rules around what to add and subtract to each of those figures, but it's an outstanding way to evaluate an investment or your own company. Have your CFO read the article and calculate the number for you. What's good? Seems like anything north of 18%.
Radical Personal Development (RPD) — Tom Peters, the uber-guru who started the excellence revolution, has his newest rant – RPD – Radical Personal Development. Notes Peters "Accelerating tech changes/etc. = Middle class in tank: good jobs are falling to algorithmic automation and offshoring. ONLY answer/ONLY chance: Determined/intensive commitment to personal growth." Tom continued: "You totally misunderstand overall economic context if you choose not to start today on RPD/Radical Personal Development." And he suggests we've not been through a Great Recession, but a Great Restructuring (couldn't agree more). From the guy who implores all of us to "outlearn the competition," it's worth 1 minute to absorb his ranting on his latest blog post.
RPD next Wednesday — take a late 72 minute lunch break next Wednesday and join me for our twice/month complimentary screening (save $99) of a first class biz guru's ideas. March 26, 2pm (every time zone), the #1 customer service researcher/author Leonard Berry shares best practices from his book Lessons from the Mayo Clinic. Learn how this complex service organization fosters a culture that exceeds customer expectations and earns deep loyalty from both customers and employees. Click here to register for Gazelles Growth Institute's free screening on Wednesday, March 26th at 2PM your local time.
RPD "Gazelles' Growth Drugs" — (note, repeating CEOs attend free) the spring offering of Rockefeller Habits workshops are listed below – find a one-day workshop near you (often best to get out of town with your team) and fast track the implementation of the tools and techniques that have helped Jason Smith, quoted above, and over 39,000 other CEOs drive the success of their companies. And CEOs that have attended the workshop before and simply want to bring a new group of execs and middle managers (great day together), are welcome to attend as our guest – just ask.