Building Business Value
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Transcript of Building Business Value
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Building Business ValueStage 2 Education Series Workshop
Sponsored by Fifth Third Bank
November 9, 2010
Dave Haviland
734 717-4955
Randy Albert
734 255-2747
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Phimation – The Natural Force of Evolution
2
Phimation is the force that
organizes systems for function and creativity
phi is the ratio of
spirals
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Phimation Strategy Group
Strategy development and strategic execution• Business• Marketing• Operations• Innovation• Funding
Experience• Operating leadership experience with Stage 0/1/2 businesses• Worked with about 4 dozen companies since 2001• On the Boards of 4 companies• Raised $30MM in private and public capital• Managed radical-improvement initiatives for dozens of companies
© Phimation Strategy Group 3
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4
Table Introductions
• Your name and what business you’re in
• What caught your eye about this workshop and made you
decide to come?
• If you had a magic wand and could change any one thing
about your company, what would it be and why?
• What do you need out of this workshop to make it worthwhile
for you?
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A PRIMER ON STAGE 2 MANAGEMENT
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Stage 0
Stage 1
Stage 2
Stage 3
Organizational Growth
© Phimation Strategy Group 5/3 S2ES Workshop6
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Complexity Grows Significantly
© Phimation Strategy Group 5/3 S2ES Workshop7
# of components(staff, customers, suppliers)
Interdependencies
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The Stage 2 Leadership Playbook
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Focus Attention
Provide the Right Frame
Define & Ensure
Decision-Making
Lead Creation of
Vision
Stage 2 Leadership
Direction Management
Manage Owners
Ownership
Define & Ensure Culture
Define & Ensure
Governance
Ensure Performance
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Stage 1 Stage 2
Analogy Beach volleyball Hockey
Stage 1 Stage 2 Transition
© Phimation Strategy Group 5/3 S2ES Workshop9
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Stage 1 Stage 2
Organization Beach volleyball Hockey
Destiny Leader-driven Vision-driven
Stage 1 Stage 2 Transition
© Phimation Strategy Group 5/3 S2ES Workshop10
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Stage 1 Stage 2
Organization Beach volleyball Hockey
Destiny Leader-driven Vision-driven
Finances Hand-to-mouth;Results drive survival
Sustainability;Results drive flexibility
Stage 1 Stage 2 Transition
© Phimation Strategy Group 5/3 S2ES Workshop11
= =
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Stage 1 Stage 2
Organization Beach volleyball Hockey
Destiny Leader-driven Vision-driven
Finances Hand-to-mouth (cost);Results drive survival
Sustainability (ROI);Results drive flexibility
Key to effectiveness
Small, quick, and good at what you do
Smart, agile, and good at serving customers
Stage 1 Stage 2 Transition
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Stage 1 Stage 2 Transition
© Phimation Strategy Group 5/3 S2ES Workshop13
1.2.3.
1.2.3.
Stage 1 Stage 2
Organization Beach volleyball Hockey
Destiny Leader-driven Vision-driven
Finances Hand-to-mouth;Results drive survival
Sustainability;Results drive flexibility
Key to effectiveness
Small, quick, and good at what you do
Smart, agile, and good at serving customers
Priorities ReactiveExternally-driven
ProactiveInternal and external inputs
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Stage 1 Stage 2
Organization Beach volleyball Hockey
Destiny Leader-driven Vision-driven
Finances Hand-to-mouth;Results drive survival
Sustainability;Results drive flexibility
Key to effectiveness
Small, quick, and good at what you do
Smart, agile, and good at serving customers
Priorities ReactiveExternally-driven
Proactive,Internal and external inputs
Complexity “Service delivery” and customers
…plus…strategy, marketing, people, and finances
Stage 1 Stage 2 Transition
© Phimation Strategy Group 5/3 S2ES Workshop14
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AaAbbbBCccDdDd
Stage 1 Stage 2
Organization Beach volleyball Hockey
Destiny Leader-driven Vision-driven
Finances Hand-to-mouth;Results drive survival
Sustainability;Results drive flexibility
Key to effectiveness
Small, quick, and good at what you do
Smart, agile, and good at serving customers
Priorities ReactiveExternally-driven
ProactiveInternal and external inputs
Complexity “Service delivery” and customers
…plus…strategy, marketing, people, and finances
Communication Impromptu,The gory details
Scheduled,Just the highlights
Stage 1 Stage 2 Transition
© Phimation Strategy Group 5/3 S2ES Workshop15
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Key Takeaways
• Things are more complicated
• Your job as a leader is to frame and focus
• ROI is more important than cost
• Reacting in the moment is not good enough
• There are several things you should do:– Lead your staff in creating a vision for the company– Manage your investments– Get better at serving customers– Clarify your priorities
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Table Discussion
• What did we hear?
• What are our reactions?
• What questions do we have?
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DRIVING REVENUE
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The Revenue Generation Funnel
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1:Many
Education
1:1
Listening & Responding
Marketing
Sales
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The Customer Experience
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Product
Services
Intangibles20% of customer focus80% of company focus 80% of customer focus
20% of company focus
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IMPROVING YOUR SALES
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Improved Sales Management Drives Results in Stage 2
Improved customer dialogue
Improved resource allocation
Improved structure & systems
More value with each customer
More value with all customers
More productivity in sales team
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Valuethat your customercreates (or avoids)
using your solution
Focusing on Value
Costof your solution
How much of this do you help to create?
How much of this do you keep?
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The Buyer’s Process
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Challenge Need Solution Assessment
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Playing in the Value Game
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Challenge Need Solution Assessment
When Value Is Determined
When Many Sales Discussions Begin
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Communicating with Customers
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How does it work?
What does it do?
Why is this competitively better?
Who will benefit from this?
Where can this take us?
Courtesy Jim Pancero Inc.www.pancero.com
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Communicating with Customers
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How does it work?
What does it do?
Why is this competitively better?
Who will benefit from this?
Where can this take us?
Courtesy Jim Pancero Inc. www.pancero.com
X
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Better Customers Yield Better Profits
CustomerProfitability
CustomerQuality / Fit
Great
Poor
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Better Customers Yield Better Profits
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Better Customers Yield Better Profits
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Finding the Right Buyers
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Challenge Need Solution Assessment
CustomerPerception
ofComplexity
&Value
“I know the problem well”
“Oh, that’s all there is to the problem?”
“I had no idea that was the problem”
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Scope and Complexity of Responsibility
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5 55
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5 55
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5
5
75
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Segmenting Your Customer Base
Top 20%
Middle 40%
Bottom 40%
Profit
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Segmenting Your Customer Base
Key Account Management1:1 Programs
Account Management1:Many Programs
Account Service
Top 20%
Middle 40%
Bottom 40%
Profit
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Stage 1 Sales Ecosystem
Your Company
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Stage 2 Sales Ecosystem
Your Company
Sales
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Manage the complexity with a plan
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Objectives TacticsChannels /
StaffingBudget Timing
Campaigns & Initiatives
Sales Plan
What to Do How to Do It
Customer Segments
Sales Process
Situation
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Key Takeaways
• Think value, not cost
• Talk about need, not solution
• Start where your customers’ hearts and minds are
• Focus on great customers
• Segment your customer base
• Be proactive with your best customers
• Plan your sales activities
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Table Discussion
• How does this fit with how you’re managing sales now?
• What are 1-2 things you could begin doing differently this
afternoon to improve the way you manage sales?
• What do you need to do to follow up on this session?
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IMPROVING YOUR MARKETING
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Your Marketing Activities
Brochures
Web site SEO/SEM
Trade ShowsAdvertising
Social Media
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The Stages of a Decision
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Unaware
Aware
Interest
Desire
Commitment
Purchase
Marketing1:Many
Sales1:1
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The Marketing Plan
Objectives Tactics Staffing Budget TimingCampaigns & Initiatives
Marketing Plan
What to Do How to Do It
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Marketing Strategy
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BusinessStrategy
MarketingStrategy
MarketingPlan
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The Basic Strategy Components
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BusinessStrategy
MarketingStrategy
Targets
Offerings Positioning
Vision & Goals
Resources Value
MarketingPlan
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Objectives Tactics Staffing Budget TimingCampaigns & Initiatives
Marketing Plan
What to Do How to Do It
Value Communication Sales ManagementOfferings
Marketing Strategy
What to Offer How to Engage How to Do It
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Your Value – Engaging The Hedgehog Principle
The fox does many things, but the hedgehog does one important thing.
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Passionateabout
Bestat
Economicengine
HH
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Key Takeaways
• Handle the top of your funnel with 1:many activities
• Plan your activities
• Only do activities that serve a clearly-defined objective
• Clarify what you offer, how you engage prospects and customers, and how you handle marketing – before you start planning your activities
• Use the hedgehog principle to clarify your value
• For marketing to really be effective, you need to clarify your business strategy
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Case Study
• Walk through marketing challenges with volunteer(s)
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WRAP UP
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Additional Stage 2 Resources
Stage 2 Consulting
Stage 2 Coaching Program
Stage 2 Education Series
Stage 2 Owner’s Manual
Phimation Products & Services
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Stage 2 Owner’s Manual - Uses
Leadership Guide
Management Training Course
Business Improvement Tool
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Stage 2 Owner’s Manual - Topics
• Stage 2 Mindset
• Managing Change
• Leadership
• Strategic Planning
• Marketing
• Sales
• Talent Management
• Hiring
• Compensation
• Innovation
• Productivity
• Trends
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Stage 2 Owner’s Manual - Contents
~ 20 minute discussion of every topic totaling about 4 hours of DVD video
Over 200 pages of cheat sheets, key concept articles, annotated slides, assessment tools, and templates
Flash drive pen with ready-to-use electronic copies of all cheat sheets, slides, assessment tools and templates
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