“11 strategies to energize your services business and prepare for the recovery”
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Transcript of “11 strategies to energize your services business and prepare for the recovery”
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“11 STRATEGIES TO ENERGIZE YOUR SERVICES BUSINESSAND PREPARE FOR THE RECOVERY”
Presented by:Lisa NirellEnergizeGrowth® LLCwww.energizegrowth.com
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Today’s Outcomes
Understand today’s biggest growth barriers Build a common planning framework Confront the common resistance to growth planning Simplify and streamline the strategy conversation in the C-suite. Commit to your company's growth planning activities. Implement 3 strategies to EnergizeGrowth® NOW
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What’s Possible for You? Reduce collections by 25%-50% Shorten selling cycles Increase the quality of your client
relationships Generate more revenue from fewer
clients Increase your company’s valuation Create more balance and joy in your
work life
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Here’s An Example… “We recently re-branded our company and expandedabroad. Our executives were spending nearly half of
ourtime sorting out customer misunderstandings and
internalcommunications problems, and very little time on
planning.After working with Lisa and her team, we have linked ourstrategy and employee development plans. As a result,collection time has gone from 75 days down to 45
days,and our CFO was featured in Inc. Magazine for ourinnovative cash management strategies.”
-Bob Zeigenfuse, President, Avanceon Inc.
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1. Strategic market imperatives 2. Consequences and Impact3. The Unique Value and Ultimate Result (UR-UV
Factor)4. The gaps that stop you from delivering on this
value5. Your Ideal Client 6. Elevator Statement7. Your Vivid Vision8. Your Company Values9. Top 3-5 SMART Objectives over the Next 12 Months10. “Stop Doing” List11. Measures of Success
11 Strategies that Define a Wealthy Business
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Strategy #1: Market Imperatives
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Strategy #2: Consequences & Impact
“The World Is Ch-Changing … What About Your Business?”
CLIENTS Declining loyaltyWant lower pricing Will not pay extra for ‘value added offerings” Slow decision-making
FINANCIAL Shrinking margins Tighter access to credit Increased cost of labor, materialsRegulatory uncertaintyCULTURE
Fear of risk No succession strategy Frequent communications breakdowns Allergic to planning Shiny Penny Syndrome
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Growth Stages Offer Clues to Impact
…What Growth Stage Are You Facing?…What Growth Stage Are Your Clients
Facing?
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Scaling the Walls of Growth
Used with permission from Shirlaws Coaching, 2008.
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Exercise: Strategic Market Imperatives
What are the key drivers your clients are facing?
Internal:
External:
What is the impact on their organization?
How do you uniquely help them address those drivers?
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Strategy #3: Ultimate Result/Unique Value
How are your clients better off as a result of working with you?
How do you uniquely help them address those drivers?
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Unique Value: Sony Electronics
“It’s my job to be sure we are delivering on our promise…we are well known for our quality, innovation, style and design. To back that up, there has to be a network.”
-- Tim Brison, SVP, Sony Services Platform
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Strategy #2: Mind the Gap, Tame The Beast
“The Beast loves to take dreams and turn them into nightmares.” -- Daryl Conner, Author and Founder, Conner Partners
“We tried that once and it didn’t work…so why bother?”“Planning is difficult and time consuming and expensive… so why do it?”“We’re too busy fighting fires to focus on planning right now.”“We don’t have enough time/money/education to launch these goals.”“If I don’t do this myself, it won’t get done right.”
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Strategy #2: Manage Limiting Beliefs
1. What is a specific result you want that you don’t have now and where you are stuck?
2. How are you behaving when you are being that way?
3. If it were impossible to be that way, who would you prefer to be instead?
4. What kind of actions and results could those ways of being produce for you?
5. Who do you choose to be? “Who I choose to be is…”
6. What is the first action you will take that expresses that way of being and that will move you towards your desired result?
Source: Robert Middleton, Action Plan Marketing, www.actionplan.com
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FOUR D’s of SEGMENTATION
DeportmentBehavior Dynamics
Demographics Dimensions
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Services Success = Plan + Strong Culture VISION
VALUES/CULTURE
MISSION
CRITICAL GOALS
STRATEGIC GOALS
PERSONAL GOALS
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VISION
Whom the organization wants to become Easy to understand and remember Present tense Emotional appeal Ideal timeframe is 10-20 yearsExamples: “We inspire all those we serve with a mission of responsibility and goodness.” – Tom’s of Maine “We are the first choice of customers seeking the highest value in real estate and service.” – JELD-WEN Development
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SERVICES VISION IN ACTION:
“We are the catalysts for ensuring customer loyalty...we are getting our people more engaged in the end to end customer experience...as a delivery organization, we use to be victims of what comes out at the bottom. Now we are much more active in many of the upstream decisions that affect customer value realization, including positioning the right services and influencing product direction.”
-- Alisa Nessler, Vice President, Enterprise Services Management
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VALUES “How you do things” Intrinsic beliefs and behaviors Define your culture and customer perceptions Guide decision making Maximum 4-6 core values
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Sample Values
Category: AdventureRisk The Unknown
Speculation Experiment Category: To CatalyzeSpark Free OthersInfluence StimulateStimulate EncourageMake a Difference
Category: To ContributeServe ImproveAugment
Category: MasteryExpert Dominate field
Superiority Set Standards
Category: To RelateBe connected Build community
To unite To nurture
Family Be linked
Category: To CreateDesign InventSynthesize ImaginationIngenuity Build Category: To DiscoverLifelong learning
Category: To LeadGuide InspireInfluence CauseArouse
Category: To WinPrevail AccomplishAttain
Category: To TeachEducate InstructInform PrepareEnlighten
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MISSION A mission statement provides… Direction to all stakeholders Improvement or aspiration 5-10 year time horizon
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Mission Statement Examples
“By 2009, we will create and manage a system of accountability which holds every person in our employment or Governance responsible for performance consistent with our beliefs, goals, and individual work plans.” – Tom’s of Maine
“By developing and managing great places to live,
work and play, we will reach our profit target of $X by 2011.”
– Real Estate Development company
“We will provide our customers reliable electric service, energy information, and energy options that best satisfy their needs.” – Public Service Company of New Mexico
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Implementing the Plan Critical Goals : Tie directly to your mission and vision Categories can include:
Cash flow IT support Inspired, skilled workers Packaging Reducing delivery costs Distribution in a specific area Capabilities in a specific market segment People retention
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Critical Goal Examples Critical Goal Category A:We will develop a passionate, creative, and agile
global workforce.-- Technology Consulting firm
Critical Goal Category B: We will raise our “customer delight score” by
completing the Baldrige Application process.
-- Real Estate Developer
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Strategic Goals =SMART Goals :1. Each SMART Goal supports at least 1 Critical
Goal2. Timeframe 1-3 months3. Support personal goals4. Working business plan for the organization
EXAMPLE: Assure that each new employee is fully aware of our vision, values, culture, differentiators, customers and markets and company procedures within 30 days of their hire.
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HOW ZAPPOS ENERGIZES GROWTH®
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ZAPPOS Creates Communities
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Growth Planning the Zappos Way
“A lot of companies start planning by focusing on what financial results they want to reach. We take it from the approach of ‘how do we add value to the customer experience?’ All of our departments are trying to understand FIRST what innovations in service we can provide. Financial metrics are an outcome of great execution of innovation and service. So we focus on profitability SECOND.” -- Alfred Lin, COO/CFO, Zappos
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THREE KEYS TO ENERGIZEGROWTH® NOW
LAP method Financial Foresight Client Focused Mastery (CFM)
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THREE KEYS TO ENERGIZEGROWTH® NOW
TACTIC 1:THE LAP METHOD
L = The leaders’ role A = Alignment
P = Proactive
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TACTIC 2: FINANCIAL FORESIGHT Assign an owner to maintaining your EnergizeGrowth® Plan Root cause analysis Green Light/Red Light
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BERYL’S FINANCIAL FORESIGHT: A BALANCED SCORECARD APPROACH
Used with permission, The Beryl Companies, 2008.
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Declare Victory Now! Personally commit to “stop doing” list Pick one strategy to improve Name the Beast (s) Create an accountability process Request a Business Energy Boost
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Summary “Leading companies adapt to change before they have to. Unless we have patents protecting us, our competitors have similar offerings. You dominate your market by balancing three things: your plan, your mindset, and your ability to execute. That is how you can EnergizeGrowth® in any economy!”
Email: [email protected] Twitter: lisa_nirellwww.energizegrowth.com