2. Exposes You To:
• Insignia and Quantum Leap
• Discovering the X Factor. Barrett Ersek
• Special Rockefeller Habits Content for
your Forums
3. What This Is Not:
• Experienced Professional Speaker
• Expert on the X Factor
4. Entrepreneurial Dyslexic
• Like many of you I Have the gift of
Dyslexia
• Saw this as my weakness
• More visual, take in lots of information,
and see patterns
5. My History
• Investment Firm 20 years
• Started a Mutual Fund in 1995
• Started a Software Company
• Went to India and set up office in 2004
• Using Rockefeller Habits since 2004
7. X Factor
• X Factor is NOT about You. Its
about:
• Discovering and solving a
constraint or bottleneck in
your industry
• Gaining a 10X advantage over
your competition
8. Do You Want to Move Past your
competitors by 10 to 30 times?
9. Happy Lawn – X Factor
Happy Lawn
Green Grass – No Weeds – No Hassles
10. Barrett’s Happy Lawn
• Cost per customer was
$275 ,10 yrs to 6000
• How to Reduce by factor
of 10?
• Leased material from
Global Explorer
11. What Happened?
• 2 Mill to 10 Mill in 4 yrs
• Sold to TrueGreen
• $1 returned in 6 quarters.
Turned into $1 in 6
weeks
12. Title
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• Praesent sodale nisl
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13. Outback Steakhouse
• One of the top 3 Restaurant chains in the
industry. Won all kinds of Industry Awards.
• Industry Issues – theft, inconsistency of
food, service, other headaches.
• Asked “Why” 5 times.
• Realized it was the Managers
14. AutoNation
• Industry Problem 4/5 Customers not
returning.
• Conference Break Outs all were on driving
Traffic.
• Wayne said how to get them back –
Found customers wanted all Brands
16. X Factor Tips
• Ask…
• What problems in your industry are so
deep seated that everyone accepts
and works around the problem?
• What are some things that we do that
an outsider would say “That’s crazy!
Why do you have to do that?”
• At Industry Conferences
• What topics have the most
presentations?
• What problems seem to get solved
again repeatedly and yet still begs
another solution?
17. X Factor Opportunities
• Biggest Cost
• Delivery
• People Reduction
• Employee Retention
• Process Flow
• Innovation
18. Experience Sharing
• Share and Discuss
• Have you tried figuring out your X
Factor?
• How have you gone about thinking and
solving this problem?
19. X Factor
Exercise
• Discover your industry bottlenecks
• Brainstorm solutions:
• It’s impossible, but what if we
could …
20. X Factor Exercise 1
• Breakout in Groups of 6 or less
• Come up with 2 business bottlenecks
• Come up with 2 Industry Bottlenecks
• Have Forum mates generate feedback
that the bottlenecks are Industry not
business
24. Experiences
• Istanbul University – September 2012
• Campus Event - Park City, Feb. 2013
• Miami University – March 2013
• Masters Golf Trip – April 2013
Keys: Ask the right question - what’s the bottleneck? Day dream about itthe WHO - people helped to get solution Take action - your first action may not work Measure your results Copyright Gazelles Systems, 2008. Working Your One Page Strategic Plan - by Patrick Thean
Keys: Ask the right question - what’s the bottleneck? Day dream about itthe WHO - people helped to get solution Take action - your first action may not work Measure your results Copyright Gazelles Systems, 2008. Working Your One Page Strategic Plan - by Patrick Thean
Company - Name and what they do HappyLawn – We are in the Green Grass no weeds business Their challenge The industry had a Sales cycle that was to complicated making it to long and to expensive as a result growth was difficult and expensive How they figured it out At BOG with Vern’s guidance we were able to come up with the essential question. The X-factor process - We focused on what was the bottle neck in our industry. If we could solve this bottleneck it would give us a 7 to 10x’s advantage over the competition. The essential question became – How can we reduce our sales costs & sales cycle by a factor of 7x’s to 10x’s. I was able to leverage all of my relationships at BOG & EO and eventually came up with the solution... GIS imaging and tax map data to measure the lawns over the web instead of using a sales person to measure every lawn. What their BHAG / Brand Promise / x-factor turned out to be BHAG – Defeat the evil empire... Sales greater than Chemlawn Brand promise – Green Grass, No weeds, No Hassles X-Factror - GIS imaging and tax map data to measure the lawns over the web instead of using a sales person to measure every lawn. Results or lesson learned Results:We sold our existing $2mil business in 2003 and started over, building a new business using the X-Factor. We grew from $0 in rev January 1 2004 to $10mil in 2008. Our sales cycle went from 3 weeks to 3 minutes and cost per sale went from $275 to less than $50 Lesson learned:All X-Factors become table stakes in 2003 GIS imaging was truly rocket science today with Google earth it is common place.