Rhythm for Executive Teams
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Learn how Rhythm can help your senior leadership team.
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Rhythm for Executive Teams
- 1. Rhythm for Executive Teams P r e s e n t e d b y J a r r e t Va u g h n
- 2. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com
- 3. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com Are you on track to hit your growth initiatives this year? How are you currently tracking the execution of your strategy? THIS CONVERSATION IS FOR YOU
- 4. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com WHY RHYTHM FOR EXECUTIVE TEAM? Platform to align C-suite and to manage their strategy execution 1 Company-wide need that want a great starting point Companies with front line employees not involved in executing growth strategies 2 3
- 5. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com THE RHYTHM SYSTEM PLATFORM
- 6. rhythmsystems.comCopyright © 2017 Rhythm Systems, Inc. BHAG Core Values Core Purpose Core Customer 10 - 20 Years CORE STRATEGY 3 - 5 Years Yearly Focus Annual Initiatives Critical #s Annual FOCUS PRIORITIZE 13 Week Race Execution Ready KPIs & Priorities Cascade Quarter Weekly Meeting Prep Collaborate Make Adjustments Week In Sync Week Daily Huddle Actions Do the Work Day STAY ACCOUNTABLE WIN ALIGN TEAMS THINK PLAN DO Winning Moves 3-5 Year Targets Brand Promise W H AT C A U S E S S T R AT E G Y E X E C U T I O N T O FA I L ?
- 7. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com STRATEGY
- 8. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com ONE PAGE STRATEGIC PLAN
- 9. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com THE RIGHT GROWTH STRATEGY
- 10. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com
- 11. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com 2012 2018 <$200M Revenue $1B Revenue 80 Employees 300 Employees 1 Team 9 Teams
- 12. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com YOUR QUESTIONS
- 13. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com PLANNING
- 14. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com “EXECUTION READY” PLAN
- 15. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com VISIBILITY WITH PROJECT VIEW
- 16. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com EXEC TEAM DASHBOARDS
- 17. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com SET UP EXEC TEAM DASHBOARDS
- 18. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com The best companies spend 80% of their weekly meetings problem solving WEEKLY ADJUSTMENT MEETINGS
- 19. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com ADJUST WEEKLY S o l v e p r o b l e m s f a s t a n d k e e p y o u r p l a n o n t r a c k .
- 20. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com HOW TO RUN WEEKLY ADJUSTMENT MEETING
- 21. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com YOUR QUESTIONS
- 22. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com LET’S NOT FORGET OUR BOARD & INVESTORS
- 23. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com HOW GOOD IS YOUR EXECUTION? 1 . T h e r i g h t g r o wt h s t r a t e g y 2 . E x e c u t i o n r e a d y p l a n 3 . E x e c t e a m d a s h b o a r d s 4 . We e k l y a d j u s t m e n t m e e t i n g s
- 24. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com RHYTHM FOR EXECUTIVE TEAM
- 25. Copyright © 2018 Rhythm Systems, Inc. rhythmsystems.com Jarret Vaughn jarret@rhythmsystems.com 704-214-2853
Editor's Notes
- Hello everyone, My name is Jarret Vaughn and I want to thank you for joining me and the team today to talk a little about our newest Rhythm Software for Executive Teams. I have worked hundreds of CEO’s to help discuss growth strategy and how to execute it more effectively. Hearing these stories and case studies everyday has provided me the best insight for the processes that work well and some that organizations struggle with. Today I am extremely excited to share this new release with you! My goal is for this to be a dialogue between us as well. _________________________________________________
- If you’ll notice on the right side of your screen, you will see a control panel like the one above. In this control panel, you will see a question box, feel free to drop questions in here or any comments you may have and I will be sure to answer those during our presentation. If I can’t get to them during the presentation, I will personally reach out and make sure to answer your questions! I want to start this presentation with two things. Number one to get you thinking about your business today and also to provide me an opportunity to learn a little more about your business.
- As we begin, I want you to think about your business and strategy today. Consider this, are you on track to hit your growth initiatives this year? What we all understand is that unfortunately with so many disruptors in the economy, with so many opportunities, and with heavy growth in todays middle market, the tools of yesterday are no longer applicable for today. Innovation and growth is key to not only relevance in industries but survival in general. I also want to give everyone an opportunity to use our question box in the control panel. Drop a comment and tell me, how are you currently tracking the execution of your growth strategy? We have seen many options and I’d love to hear yours. Are you using boards? Are you using spreadsheets? Are you using a project management tool? I’d love to learn about your current processes so that I can structure this webinar to be valuable for all of you. Let’s take a 10 second pause while you all enter these. I see these starting to come in, some of you using spreadsheets, some using other tools. Perfect, these are all a wonderful starting place but we found people outgrow these very quickly. So I want to answer one question for you, why Rhythm for Executive Team? Why did we create this product? Or simply put, what are we solving for people? _______________________________________________________
- For 11 years we have worked with the top middle market companies to help them develop clear growth strategies and execute on them. Most of our clients have 75-500 employees and revenues of $10 million to $500 million and use Rhythm to align the executive and multiple departments throughout their company. We have been very successful helping them scale their businesses and maintain or become market leaders in their industry. Over time we have received many calls from companies that are interested in using our system, but look slightly different and wanted to use our system for the executive team only. I want to provide a few examples of what these situations look like: First situation was Executive Teams looking for the right platform to align their C-Suite and to manage their strategy execution. A client example I would like to share with you is a wellness client of ours, north of 500M in revenue that operates as a franchise model. Because their growth was being executed within a global executive team across multiple countries. They needed a way to align the executive team on a growth strategy while consistently launching new products to their market. Today they use Rhythm to keep alignment through the C-Suite and launch new products more rapidly. Our second situation we encountered was organizations with a company wide need for a strategy execution platform but they needed a starting point for their organization so they started with the executive team. It helps them gain buy-in by starting with the executive team and getting processes in place before cascading to the rest of their organization. A client we helped with this situation is a Brewing Company. As they looked to scale, they realized running multiple spreadsheets wasn’t going to be scalable for the vision they had created. With very large growth initiatives they needed a single system for an overview of performance against the strategy and for people to remain accountable for entering the necessary data. Before they could roll out company wide though they needed to learn the software as an executive team, get the right processes in place, and engrain this within their culture. Today they have rolled out to different locations of their business and use it to build accountability and better execution of strategy across multiple locations. Our final situation we saw a large occurrence of was companies that had front line employees who weren’t involved in executing growth strategies. We found this often in manufacturing companies, education sectors, etc. Building and recording execution of growth strategy was based solely in the executive team. A client example I would like to share for this is based in the education sector who are running six different locations across the country. As they looked to continue executing their growth strategy, they needed a way to align their executive team on a vision while managing different locations. Today they use Rhythm to execute their strategy within the executive team and provide those paths of progress forward for their teachers to follow. We found executive teams in this situation aren’t using Rhythm for front line employees but instead are building execution habits within these employees processes. But In order to achieve growth goals though, it wasn’t just strategy, so what else does it take?
- This is how Rhythm works. It’s really a combination we bring together. It’s a cloud based software to set the right plans and dashboards in place to drive strategic growth, it’s a methodology to have right meetings and rhythm’s in place for growth, and it’s assistance from an expert consultant who has run a middle market company to help guide and coach you through this journey of growth. The combination of these three is how our clients are exceeding their expectations and achieving growth goals much earlier than projected. As we begin to break this down I want to start with ”methodology” because that is what we find is the largest reason that strategy execution fails. So what does this methodology look like? ______________________
- Working with middle market companies for 11 years we built a playbook that consistently has lead our clients to exceed their goals. The foundation of the playbook comes in three areas. These are strategic thinking, execution planning, and actually doing the work. The playbook was designed to help companies who didn't have the right processes that needed to exist in order to be successful. In our strategic thinking we start with the core strategy of our business. These are things like identifying your values, your purpose, and customer. Its building out your 10-20 year plan for the company then breaking it down. That breakdown is how you build out your Winning Moves. Winning Moves are your 3-5 year initiatives that the company is using to scale revenue and profits. Our execution planning begins with spending two days with your team to build out those 3-5 annual initiatives and identify key targets you are working to hit this year. After these initiatives are defined we have to cascade those which is the one day a quarter we spend to review where we are currently and adjust accordingly. It also gives an opportunity to build out customized dashboards to define our key metrics to measure health and define our quarterly view of growth priorities. Within these dashboards we are able to clearly define what success looks like and what failure looks like. We found some people have trouble identifying those key metrics for their business or how to define success criteria. We solve this quickly because our expert consultants can you to define some of these metrics and how to build out success criteria for them. Now we get to the hardest part for organizations. This is doing the work weekly and daily to execute the strategy. Because we built out customized dashboards for our KPI’s and Priorities, we have an agenda to run our weekly meetings so we can review and adjust accordingly on a weekly basis. Our final level of break down brings us to a Daily Huddle. Using the huddle helps eliminate small fires and increase transparency on a rapid basis. So we’ve covered the playbook but let’s break it down to bite size pieces, starting with strategy!
- While we have many aspects of strategy in the system there’s a few areas I want to focus on today. I want start with a high level of strategy overview first. You can find this in our reports feature within the system It’s the One Page Strategic Plan
- For my Rockefeller Habits people, this is going to look extremely familiar. For others, I guarantee you have heard of this at some point. When we designed this feature within Rhythm , we built it to draw information from every aspect of the system from Winning Moves down to the individual Job Scorecard. Having an automated way to generate this information into a simple sharable format saves time and internal resources in your organization. When we take this down another level is when get to building out those Winning Moves to scale revenue and profits.
- This is how Winning Moves look within the software. When you define them, Rhythm provides a scaling system for these initiatives using Impact and Ability. Impact is how much cost saving or revenue growth is going to be generated from this specific initiative on a scale of 1 to 10. The second axis is Ability which simply means how easy is it to implement or execute this initiative. As a middle market company, resources are always going to be limited so you want to make sure the investment you make is going towards completing the most beneficial initiatives. When you place them on this scale you can quickly see in the graph how it stacks up against your other initiatives. The system also allows you to drag and drop these in a specific order based on your idea of their significance. I want to take a moment to talk a little more about that what the quadrants each represent.
- As we rank these based on Impact and Ability they will fall into one of four quadrants. I want to start with the bottom left. This is going to our Losing Moves quadrant. Not only will these initiatives not help our business to grow, they will also be extremely difficult to implement or execute. These are the initiatives we want to stop doing and get away from. In our bottom right quadrant is where our Cheap Losing Moves live. These are initiatives that won’t be difficult or they may not cost a lot to implement, but they're also not going to help our business to grow and scale. Our next quadrant would be the top left with our Expensive Winning Moves. These are our growth initiatives that are going to help our business grow but they also come with difficulties and sometimes a hefty price. Then we approach the Promise Land in the top right quadrant where our Winning Moves live. These are our initiatives that are going to help our business scale and don’t come with a hefty cost associated whether that be time, capital, or workforce. These could also be moves to help us build cost savings. So let's look at what Winning Moves do for organizations.
- This is one of our clients who used Winning Moves to combat regulation changes. This client is in the pharmaceutical space and was facing regulation changes within the healthcare field. Because they had existing Winning Moves, they were able to combat those regulation changes by taking Patience Acceptance Time from 80 hours to 2 hours which lead to 140% growth three years in a row! The slide above shows the growth that this particular client has experienced since joining on with Rhythm. Talk about Bioplus slide So I want to pause for a moment and take any questions you may have. If you have any feel free to use that question box in the control panel that we looked at earlier.
- I want to pause for a moment and answer any questions for the materials we’ve gone through! Seed Question: You mentioned you have consultants who help. How much do they help generally? Absolutely, great question. Our consultants help in getting your strategy and metrics defined so you have the right information in the system, they also help you after that on-boarding process through quarterly calls to check in, review strategy, provide advice, and challenge your strategy to make sure it’s as polished as it could be. Great question! I want to come down to our next level which is the Planning Process ____________________________ Questions Did I answer for you what you needed? What is pricing? What does that look like from budget perspective – would that fit for your team?
- After 11 years, we have found the right Rhythm for running planning meetings. We highly recommend spending two days with your Executive Team to build out an execution ready plan and if you have the opportunity to an outside facilitator, we also recommend this. Innovation becomes limited when someone facilitates the session because they aren’t able to participate and facilitate at the same time. If your facilitator doesn’t have the experience, then they’re not going to provide the value necessary to ensure that your plan is the best it can be. It’s a movie we have seen thousands of times and the ending is always the same. So something to consider for your team. We also found it necessary to spend one day a quarter with your team to review where you are in relation to where you need to be on growth goals so that you can adjust accordingly. It also provides the opportunity to set the right metrics and growth priorities as you transition into the new quarter. So how are you supposed to build these metrics and projects within Rhythm. Let’s take a look
- In the Rhythm Software we designed a place for you to build customized dashboards for the key metrics to measure health within your organization. These will also differentiate for each industry so If you aren’t sure how to define some of your KPI’s don’t worry our consultants have helped to build out over 300,000 KPI’s within Rhythm so it’s certainly something we can help you to develop. Building out these customized dashboards will help you to set the right agenda for running your weekly meetings. While these are essential, this isn’t the only thing we use when planning we also need visibility into the growth projects we are pursuing.
- One of the most difficult things for CEO’s today is line of sight down through the growth projects for the company. As a middle market company, you have cross functional projects that multiple teams are taking on. Here Executives can see the performance of quarterly growth projects through multiple layers and how the team is performing on those. It also provides a place to leave comments and communicate on the progress of these projects. For those who have those multiple departments working on growth initiatives, we have this feature within our Rhythm Corporate package that allows you to start cascading your priorities across multiple departments. That's something we can easily help you upgrade to once you decide you are ready to cascade down. To give you a client example of someone who started in the Executive Team and has now expanded, we have a Fintech client who started using Rhythm within their Executive Team to have that high level line of sight down through their growth initiatives. Today this same client has 40 different teams or groups within Rhythm that they are cascading projects out to! Having this cascading feature allowed them launch their product six months earlier than the projected date. So we’re to the point where we have defined our strategy, we have built execution ready plans, we have customized our dashboards. Where do we head now? To our Executive Team Dashboards
- When joining in on Rhythm, our expert consultants will help you set to set up these Executive Team Dashboards to run effective meetings focused around growth and solving problems.
- Here you can see what these executive team dashboards look like inside the software. As you can see we have all of our priorities listed in this dashboard and a 13 week performance overview. On these priorities we have clearly identified success criteria as well. We identified green first and foremost, what is the goal that we have to hit? Next we identify red because you need to inform your employees what red or failure is because although you identify it to be anything under the green number, that doesn’t mean your employees will! Yellow is anything in between green and red. Then we have Supergreen at the top. That is a stretch goal because every organization has A-Players who always overachieve, so give them a number to reach for. In these dashboards you also have the capability to drill down through your top level projects to see performance of departments or employees. So as we set these up, we are now ready to run that weekly meeting! ____________________________
- Whenever I speak with middle market CEO's I have them ask themselves, what do my weekly meetings look like? Statistics prove that most times people are their providing status updates rather than solving problems. But what would it look like for your business if you spent 80% of your weekly meetings solving problems and started to have Weekly Adjustment Meetings rather than just Weekly Meetings. Chances are your meeting time will shorten, you will obtain higher returns on payroll, and you will not be fighting as many fires in the business. I want to take a quick look though at the difference between a boring weekly meeting and a Weekly ADJUSTMENT Meeting.
- Step 1: Make sure that your weekly meetings are set up to solve problems, not just report status. By having dashboards that people update once a week, it guarantees they come to this meeting prepared to make the necessary adjustments and continue moving towards growth. On the other hand we have Weekly Status Meetings, you know the meetings where everyone sleeps? Just a joke but it’s not far off. They are spending so much time updating on only the things that went well because who enjoys talking about how they weren’t successful if they don't have to? It happens. So set them up to be success through Weekly Adjustment Meetings where Reds or Yellows aren’t an opportunity to yell at someone but instead a real time coaching opportunity for that person and the opportunity for a team to collaborate and bring it back to green. Lets talk a little more about running one of these Weekly Adjustment Meetings though
- When you run these weekly meetings, everyone in the meeting is going to come in and track on their KPI’s and Priorities which takes about 15-20 minutes. We always promote that when someone has a yellow or red for that week that they should leave a comment. This not only provides a recorded story for why the number isn’t on track but they can also identify their path of progress on how to get it back to green! No need to discuss the greens every week because that is good status and that is someone providing results you expect of them. We have an area of the meeting called Week In Sync where people can talk about victories from last week and priorities for the coming week. For our clients, having this simple way to know when something is off track and real time information as to why it is off track has helped the CEO and leaders to solve problems faster. Quick Tip: Try changing the name of your meetings from weekly meeting to weekly adjustment meeting. Just that change in mindset helps a lot.
- Jarrets notes: At this time, I want to pause and answer any questions around planning and running your weekly meeting. If you have any, please use the question box and I can answer some of those right now! Seed Question: Do you recommend talking about the Supergreens as well during a weekly meeting? ____________________________ Questions You said success for meeting is “x”. Did I answer for you what you needed? What is pricing? What does that look like from budget perspective – would that fit for your team?
- Lets not forget our board & investors Having a sharable document for your board members or investors can simplify the process of them looking at your business. I have generated three different reports here you’re looking at. We downloaded a report of some of our KPI’s and how those have tracked throughout the quarter. I generated a report on all of our growth projects and how those are tracking throughout the quarter And finally we have our One Page Strategic Plan. The best part is, this is all done in four clicks of the mouse. It’s downloadable and it gives a quick snapshot of the business for those who need to know. Many of our clients enjoy not having to build these using internal resources.
- Jarrets notes: So I want to recap on what we’ve spoken about today because I know it was a lot. But ask yourself these questions, as an organization entirely: Have we defined the right growth strategy? Did we use it to build out Execution Ready Plans? Did we take those plans and build dashboards so we have an agenda for our meetings? And are we using those dashboards to hold weekly ADJUSTMENT meetings where we solve problems? If you said no or aren’t sure about any of those then I encourage you to take action because those are the key factors to increasing execution of your growth strategy. Now I don’t want to leave without you understand what Rhythm for Executive Team actually is:
- So I want to take a few minutes to talk about the Rhythm Software for Executive Teams and something else that is also included. It’s something we call white glove service! The hardest part about software, usually is 15% related to the software and around 85% related to the implementation and on-boarding of that software. So we help make this a simple and non-disruptive process. We provide you an on-boarding coach who helps you to get the software set up and we train your team on the methodology and software so this becomes another simple process you naturally perform. After we get you on-boarded, we provide you an expert consultant who has run a middle market company. They are going to go through quarterly review or quarterly coaching calls to make sure we help you in every possible to maximize your success. We also have assets such as Rhythm University or our Rhythm Certification program. Rhythm University is a webpage built out to help answer any questions you may have around setting something up in Rhythm, running a planning meeting, building job scorecards, and so much more. Our Rhythm Certification program is a multi-level online program where people can learn and test their knowledge on the Rhythm Methodology, Using the software in simpler forms, using it in advanced ways, and even an expert certification where you are the spearhead of Rhythm for your organization who people can come to for anything. All of these combined is how we continue everyday to help our clients be as successful as possible!
- So let’s talk about next steps - If this is something that has peaked your interested then let me know. We have multiple steps for people. If you’re interested we can go through a demo inside the platform and see what this all looks like in the software, I can provide a video to share with your team to give more information, or if you’d like this for your organization then let me know and we can get you and your team up and going immediately towards achieving those growth goals! At this time, I want to take a moment to make sure I have answered all of your questions. If you still have any, I encourage you to use that question box and I can answer some of those right now! I want to make sure you leave here feeling you have all the information you need on this new product. Thank you everyone, I’ll be here a few moments longer to answer questions you may have. Or if you would like to reach me directly, here is my contact information with email and cell phone number.