Verne Harnish needs no introduction, but we’ll do it anyway.
Verne is the founder of the Entrepreneurs Organisation, a truly transformational organisation. With over 14,000 members spread over 61 countries, and with an average revenue of $5 million per member company, it really is the leading organisation to help entrepreneurs realise their potential.
He is the author of Mastering the Rockefeller Habits and Scaling Up, his best-selling business book, which today forms the foundation of the EO Accelerator program. Verne is also the Founder and CEO of Scaling Up, a global coaching company with over 180 partners around the world.
On top of all of this, he is a world-renowned speaker and also writes for Fortune magazine as the ‘growth guy’.
How to scale your business:
Routine and rules will set you free
Mike is absolutely a proponent of Verne’s book Scaling Up, and set about implementing its strategies immediately. “After I read it I went to my business partners and I said guys, we’re going to do this. And it transformed our business.” Mike admits that he isn’t a naturally disciplined person, but says that the learning and execution of routines have completely changed his life.
While Scaling Up and the EO are very structured and rule-regimented, Verne sees these as more “guidelines than gospel.”
“Here’s the analogy I like to use,” says Verne. “You’ve got this playground and you’ve got these children playing in it, and it’s bordered by really busy streets. You’re the one that’s responsible for keeping these children safe without fences, so you’re going to have to keep them huddled right in the centre. They’re going to have no freedom really to leave that centre, and you yourself have no freedom. You can’t even risk looking away for a moment, in case one of them dashes away into the street and then it’s drama – which is the thing that we’re trying to avoid in business. But the minute you put up fences, the children can play right up to the very edge and you can go grab a coffee. And so that’s the power of having these rules.”
How to build a community
With the Entrepreneurs Organisation, Verne has built a global community for business owners looking to improve the way they do business. “What advice would you give somebody trying to build that kind of a community around their business?” Mike asks.
“Start local,” replies Verne. “Focus on building locally and making it successful locally, and then you can take that model elsewhere.”
How to maintain energy and focus
As any entrepreneur will know, you have to be switched on all the time. Business owners have to work more hours, wear more hats, read more books, and generally just do more to make their business work. You have to maintain that energy though, otherwise, you’ll burn out quickly. How does Verne do it?
“Well, you don’t start out that way,” laughs Verne. “The key is to realise that we are Chief Energy Officers and that energy management is much more critical in the 21st century than time management. Time management, of course, is important, but you truly need to play to your strengths. And what everybody misunderstands is that a strength is not that which you’re good at. A strength is only that which gives you strength and gives you energy. If thinking about doing it exhausts you, then it’s a weakness.”
According to Verne, you have to start pruning your activities. Do the tasks that give you energy, and delegate the rest. Because entrepreneurs by design are good at a lot of things, that’s the challenge. They take on too much, and that can be fatal to the business when burnout occurs.
Verne Harnish is the man to go to when it comes to habit optimisation and business, so we hope you took something away from this blog.
If you have a FinTech project that you would like to accelerate with a partner that will take care of your build and allow you to focus your energy where it matters, then get in touch. Book a consultation with one of our principals here.