In the last article we looked at Core Values and Purpose and whilst these are critical and provide the reason for being and the guide rails for the business these need to be alive within the organisation. All your employees need to know what these are as well as where you are going, who your ideal customer is and what you promise to deliver to them. Rockefeller Habit number 8 talks to the BHAG, the Core Customer and the organisations Brand Promise asks the following question of these key components:
”Employees can articulate the following key components of the company’s strategy accurately
Big Hairy Audacious Goal (BHAG) - Progress is tracked and visible
Core Customer(s) - in 25 words or less
3 Brand Promises - and the corresponding Brand Promise KPIs reported on weekly
Elevator Pitch - a compelling response to the question ‘What does your company do?’”
So, whilst the core values and purpose are all about the reason for being and the organisations “guiderails” for decision making, this Rockefeller Habit talkers to everyone in the business knowing where the business is going, the profile of the typical (and desirable customer) and what we promise to the customer. Knowing this isn’t enough, your employees also need to be able to confidently articulate what this means in a short and succinct elevator pitch.
BHAG - Big Hairy Audacious Goal
Devised by Jim Collins in “Good to Great” as the (almost) unachievable long term goal of the business. Normally set over 10 to 25 years, it sets the long term destination for the business. But it can’t be the only goal, shorter and more tactical goals also need to be in place over 3 months, 1 year and 3 years so that your employees can see progress on moving towards the longer term BHAG.
Devised by Bob Bloom in his great book “Inside Advantage”, the Core Customer is the ideal person you want to do business with. It is a description of real people who exist in the organisations operating space, value what you do and are happy to pay your fees, pay on time and use your products or services again and again.
3 Brand Promises
What are the three things that you promise your customers? You need to be fanatical about delivering on these promises and also be able to measure quantitatively how well you are delivering these (from the eyes of the customer).
Your employees need to be able to simply and concisely articulate what your business does in a few short sentences. The power of having a team of employees who each know the business’ elevator pitch is phenomenal. What is your elevator pitch?
In the next article on the Rockefeller Habits, we will move onto the the habits that are focused around execution. Firstly we’ll cover off the quarterly priorities - the Number 1 thing the business should be focusing on for the next 90 days.
Posted by : ged | On Tuesday, 21 August 2018 | Modified On Monday, 03 September 2018