Mastering the Rockefeller Habits by Verne Harnish
Vern Harnish researched the strategies and habits used by John. D. Rockefeller and compiled them into a series of easy-to-understand formulas. Rockefeller grew Standard Oil into one of the largest corporations of the 19th Century and made himself the wealthiest man of the modern world. His peak net worth of around $400 billion is still unmatched today.
Learn more about the habits of John D. Rockefeller and how they can help you improve your successes and minimize your losses.
This book is focused on systems and behaviors for companies and teams that are already successful. If you’re dealing with business problems, you might want to start with my 5 Dysfunctions of a Team review instead.
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Mastering the Rockefeller Habits Book Review
Are you starting a business or feel like your organization needs to be better organized? Then my Mastering the Rockefeller Habits book review was written specifically for you.
John D. Rockefeller Founded Standard Oil in 1870, and in 26 years grew it into one of the biggest mega-corporations of the modern era. His company grew so fast and was so successful the government had to split it up to protect the marketplace. If only more of us had those kinds of problems.
Join me today while I explore the habits John D. Rockefeller used to make Standard Oil an industry leader.
- Building a Growth Mindset
- Create a Strong Communication Strategy
- The Benefits of Functional Accountability Charts
- Focus on Employee Engagement to Make the Most of your Human Resources
Building a Growth Mindset
Successful people make successful companies, and the most successful people are always growing. Developing your own growth mindset is the first and most important step to creating effective habits that lead to success.
A growth mindset is the state of mind where you believe that no mistake is truly permanent and you can always find a way to do things better.
The benefits of reading go beyond learning new things and collecting good advice. Reading can help you build a growth mindset. When you study a wellness book and internalize its message, you are literally reading the thoughts and mind of the author. You don’t just learn good advice; you learn how to empathize and learn from healthy people. The more books you read, the easier you will master emotional intelligence in leadership. You will be better prepared to encourage your teams to develop strong growth mindsets of their own.
A healthy body is a powerful component of your growth mindset. Consider this Thinner, Leaner, Stronger review. I’ve seen hundreds of women use it as a detailed road map to improve their health and happiness.
As you maximize your physical health and fitness, you will find it boosts your ability to grow in other ways, too. Many modern professionals have included yoga in their exercise routines. Yoga is uniquely suited to business professionals because it requires a healthy balance between physical and mental health. It is also low impact, doesn’t require expensive equipment, and can be done almost anywhere.
If you do yoga or are considering taking up the practice, I recommend you keep a yoga journal so you can track your schedule and record your gains. Writing things down while they are fresh in your mind can help you find new insights. Difficult problems are easier to solve when you have built a habit of writing down your contemplative thoughts.
Create a Strong Communication Strategy
Company core values should be reviewed often on your own and with your team. Are you actively pursuing your values, or are they just a motto that everyone ignores? Rockefeller developed a values-centric communications approach that helped him organize Standard Oil into the dominant industry leader of the day. Developing and communicating your corporate values to your team is vital to your success. When done right, it helps everyone keep their eyes on your long-term goals without losing focus on the task at hand.
With proper planning and foresight, a small business can scale quickly. Chaos always accompanies rapid growth. Effective and consistent communications habits are essential to managing that chaos and ensuring your businesses and projects reach their full potential.
In a large business, it can be hard for everyone to know exactly what they’re supposed to be doing. Helping people understand where they are responsible and what they should be accountable for is part of why effective communication is so important.
The most effective CEOs and leaders take personal responsibility for everything that happens in their business, but this attitude brings with it certain risks. Even when you know your job and its related responsibilities, a lack of accountability can make it harder for people to feel motivated.
It is important for leaders to be fully invested in their work. It is equally important for them to share accountability with everyone else. This will ensure better engagement and is the surest path to success.
Accountability has a lot of upsides. When something goes wrong you may be held responsible, but when something goes right you also get the credit. Competent people who are held accountable have higher morale and are more motivated than people who feel powerless. It also helps everyone remain focused on your core brand promises.
The Benefits of Functional Accountability Charts
Using a function accountability chart is a major component of the Rockefeller habits. In some cases I have seen, it is so powerful that it can have an almost magical effect on your business.
The larger the business or the longer a project continues, the easier it is for individuals to lose focus of their responsibilities. Making a chart that shows how everyone fits into the overall structure and purpose of the company can keep everyone organized and on-track.
Creating an easy-to-understand breakdown of who is responsible and accountable for each of the vital missions of your business, it can clear up a lot of confusion. This not only gets people pointed in the right direction, but it also raises morale. People are a lot happier when they know what is going on and that doing their job will impact them directly.
In my consultations, I spend most of my time helping people identify their primary purpose and give it as much of their focus as possible. Once someone knows their purpose, assigning accountability to them for that purpose is empowering. There are no downsides.
People with purpose and accountability are happier, work harder, and contribute more than people who without. When you have clear expectations and duties, it also makes it easier to act ethically. Functional accountability charts help you see through the complexity of big projects and help everyone stay on track.
The CEO is still ultimately responsible and accountable for everything that happens. Formal recognition of how each employee shares in that accountability is vital to your ultimate success.
Focus on Employee Engagement to Make the Most of your Human Resources
I have included Mastering the Rockefeller Habits in the 1AND1 Life corporate wellness training program. Many of the Rockefeller habits contribute to the communication and respect necessary to have a healthy leadership team, and, as the director, I feel like this book is the perfect fit.
Managers and entrepreneurs in my training programs have seen dramatic improvements, thanks in part to the research and insights of Verne Harnish.
Mastering the Rockefeller Habits is one of the best startup business books. I recommend it to entrepreneurs so they can get their leadership structure started out right. When I consult for businesses that need a healthier leadership structure, many of their problems can be traced back to the research of Verne Harnish. Studying this book could save you thousands of dollars in consulting fees, and it could be the difference between success and failure. I’ve helped struggling businesses turn the corner and become massively successful by training them in the Rockefeller habits.
How healthy is your leadership style? I recommend Mastering the Rockefeller Habits. Pick up a copy and start reading it today. It could be the best book you read all year.