EO Austin Texas Oct 2013

Simon Mundell

The Business Execution Experts ™

Transform Your Business Potential into Extraordinary Results

Business Execution – made simpleThe Business Execution Experts ™








Lead Change With Certainty

“Yes” = Absolutely, 100%, and we can prove it

“Yes” = Everyone in our company agrees “yes”

Otherwise your answer = “No”












Change
















Source; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable TimesSource; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable TimesBusiness Execution – made simpleThe Business Execution Experts ™















Source; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable TimesSource; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable TimesBusiness Execution – made simple

GLOBALIZATION

Source; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable TimesSource; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable TimesThe Business Execution Experts ™









How most people are dealing with this!


















It is not the strongest who

survive

nor the most intelligent

but the ones most responsive

to change

Darwin












VISION

STRATEGY

ENGAGEMENT

ACCOUNTABILITY

CADENCE

Source; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable TimesThe Business Execution Experts ™


The 5 Pillars of Execution


















Vision



VISION
















Where

BHAG

Core ValuesWho

Core Purpose Why

Vision

Core ValuesFit




















Source; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable TimesSource; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable TimesBusiness Execution – simplified

Example of a “well known” firm’s values:

● Communication We have an obligation to communicate. Here, we take the time to talk with

one another and listen. We believe that information is meant to move, and that information moves people

● Respect We treat others as we would like to be treated ourselves. We do not

tolerate abusive or disrespectful treatment

● Integrity We work with customers and prospects openly, honestly and sincerely.

When we say we will do something, we will do it.

● Excellence We are satisfied with nothing less than the very best in everything we do.

We will continue to raise the bar for everything we do. We will have fun discovering how good we can be

● A Good Bugger is someone who:

● is fun to be with; ● puts their people first; ● is a leader; ● plays above the line;● is innovative and provides excellence;● is committed to satisfying.

To get everyone home safely each night.

Fair days pay for a fair days work.

Promote Isaac’s positively.

Do it right first time.

Don’t take the piss.

“3 coats of paint, means 3 coats of paint”






























1. Do you have "real" Core Values to guide the behaviors of your people?






























46

Defining How The World Is Energized

47

‘To solve unsolved problems’






























To make people happy










2. Do you have a clear & compelling Core Purpose that explains why your company exists?










BHAG (© Jim Collins)












have taught 20 Million students to play music.

An Accident Free WorldBy 2020 No one will die in a new Volvo

http://www.redballoondays.com.au/

3. Do you have a clear and compelling long-term strategic vision for your company?






























Where

Who Why

Vision










VISION

STRATEGY

ENGAGEMENT

ACCOUNTABILITY

CADENCE



















Strategy



STRATEGY












VS





























Doug Hall9804 brands analyzed over a 5 year period

901 were tracked from introduction





















Most effective company growth strategy =

a) Build customer loyalty?

b) Find new customers?

b) Finding new customers = 2.8x more effective





















Most effective revenue growth strategy =

a) Increase average $ sale?

b) Increase purchase frequency?

a) Increasing average $ sale = 3.9x more effective





















I said…





















Presenting Data to customers =

a) Use charts and graphs?

b) Use clear and simple words?

b) Clear and simple words 2x more effective

Reduce mental processing.





















Most effective credibility strategy =

a) Testimonials from satisfied customers?

b) Product / service demonstrations?

b) Demonstrations 47% more effective

Personal experience of your product/service is the key





















Customers prefer sales people who are

a) Highly dependable?

b) Highly competent?

a) Dependability 320% more important





















Most effective growth strategy =a) Expand your offering to serve different market

segments?

b) Reduce offering to focus on 1 segment only?

b) Focus strategy - 60% greater chance of success





















Most effective marketing strategy =a) Offer 1 benefit?

b) Convert all your features into benefits?

a) 1 blunt, overt benefit = • 75% more likely to survive > 5 years• 54% more likely to succeed

More than 2 benefits = lowers chances of success





















Branding & Written Communication =

a) Respect customer’s intelligence?

b) Dumb it down to 10 year old comprehension level?

b) 10 yr old level = 70% more effective





















Strategy



STRATEGY

BetterCheaper Faster

Establish a point of difference

4. Have you specified the geographic regions you will market and sell your products & services to?










Focus










Apple’s iPhoneTarget Market:● Mid-30s Male● Urban Hipster● Loves technology● Wants to be seen as current,

“with it”, shows off to his buddies










Business Execution – made simpleThe Business Execution

Experts ™









“There is only 1 winning strategy.

Carefully define the target market

and direct a superior offering to that target market.”

Professor Philip Kotler










5. Have you documented the key characteristics of the target market customer for your brand?










“If your customer doesn’t have a problemGIVE THEM ONE!”

- Tom Peters










6. Have you documented the key needs, problems, frustrations, and desires of your target market customer? ?










Treacy & Wiersema

Strategic FocusWhat do your target

customers value most?Value Discipline

(Generic Strategy) Company examples

Low costConsistency

SpeedNo hassles

Operational ExcellenceDell, Wal-Mart, FedEx, McDonalds, South West Airlines

State of the artProducts and Services Product Leadership

Apple, Sony, Intel, Merck, Pfizer, Nike, 3M

Customized productsPersonalized solutions Customer Intimacy

McKinsey, Nordstrom, IBM, Ritz Carlton

7. There are only 3 strategic games. Do you know which game are you playing, and are you playing that game to

win?










“The difference between successful people

and very successful people is that very successful people say "no"

to almost everything”

Warren Buffett

“The temptation of business

is always to feed yesterday

and to starve tomorrow”

Peter Drucker










8. Have you specified which activities are core to your chosen strategy?

9. Have you specified which activities are NOT core to your chosen strategy?










How Obvious are you










If you can’t state your position in 8 words or less,You don’t have a position” Seth Godin










10. Does your brand have a clear positioning statement?










What’s your Emotional Benefit?

The Feeling Of Complete Freedom


















If a customer doesn’t have a problemgive them one!

Brand Promise



Brand Promise

FunctionalEconomic

Emotional
















Your Building Consent in 10 Days Guaranteed





















A B





















Why should I buy from you?

…and why else?.

…?





















Have you clearly specified the 3 key benefits for your brand?










EMOTIONAL benefitsHow you make them feel

Brand Promise

ECONOMIC benefitsWhat it means in time or money

(the value you provide)

FUNCTIONAL benefitsWhat your product or service does

(your product attributes)










11. Have you clearly specified the 3 key benefits for your brand?










12. Do you have clear and compelling promise for your brand?










The Business Execution Experts.TM

Transform your business potential into extraordinary results










Threat of New Entrants










Threat of Substitute Products or Services












Bargaining power of Customers












Bargaining power of Suppliers












Rivalry amongst existing

Competitors














Business Execution – made simple



Courage


















13. Have you specified the key moves to position your firm for industry success within the next 3-5 years?










VISION

STRATEGY

ENGAGEMENT

ACCOUNTABILITY

CADENCE



















90% of strategies faildue to poor execution




















ACCOUNTABILITY
















Source; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable Times

Only 15% of employees knowtheir company’s top priorities

Even worse, only 6% know their own individual priorities



Source; Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable Times
















32% of employees doubt there is a plan at all

Source; Department for Business, Innovation and Skills (Bis).Source; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable TimesThe Business Execution Experts ™


Source; Department for Business, Innovation and Skills (Bis).
















Only 27% believe they are fully prepared for the challenges they will face this year.

Source; Department for Business, Innovation and Skills (Bis).Source; Documented by Stephen Covey and Bob Whitman in 2009 - Predictable Results in Unpredictable TimesThe Business Execution Experts ™


Source; Department for Business, Innovation and Skills (Bis).
















Visibility creates Accountability

14. Does your company have clearly documented numerical targets?










Have you updated your SWOT analysis in the last 90 days to accurately reflect your current reality?










15. Have you updated your SWOT analysis in the last 90 days to accurately reflect your current reality?










Does your company have clearly documented Strategic Priorities (projects) to implement this current quarter?










“Every leader needs to clearly explain the top 3 things

the company is working on.

If you can't, then you're not leading well”

Jeffrey Immelt










16. Does your company have clearly documented Strategic Priorities (projects) to implement this current quarter?










Do you measure the small handful of Key Performance Indicator (KPI) numbers every week that drive your current business model?










17. Do you measure the small handful of Key Performance Indicator (KPI) numbers every week that drive your current business model?












ENGAGEMENT
















Accountability creates Engagement

Productive = Happy

Progress is the #1 Motivator


















The real art of management:Taking a person’s strengths and turning it into productivity





















18. Do you use a dashboard to make your performance visible every week?










Have you clearly documented who is accountable for the key functional roles in the business – and how their performance will be measured?










Role Name KPI KPI Target : Define “A” Player level of performance

that can be assessed monthly

RED YELLOW GREEN

Head of company Net profit % <10% 10-20 > 20%

Head of Marketing New leads / month <50 50-75 > 75

Head of Sales Lead conversion % <20% 20-30 > 30%

Head of Operations Client average longevity (months)

<12 months 12-18 > 18 months

Head of Finance Accounts receivable days >70 days 70-45 < 45 days

Head of HR Employee NPS NPS <50% 50-70 NPS > 70%

Head of Customer Satisfaction

Client Net Promoter Score NPS <30% 30-50 NPS > 50%

Head of Business Unit (A)

Net profit % <5% 5-10 >10%

Head of Business Unit (B) etc

Net profit % <20% 20-30 >30%

Sales representative (s)

Sales per week <3 3-5 > 5












19. Have you clearly documented who is accountable for the key functional roles in the business – and how their performance will be measured?










20. Do your staff know the consequences for achieving (or not achieving) the performance standard required in their role?










Do you have every major role in your company filled with an “A” Player?










“On average only 25% of hires turn out to be “A” Players”

Brad Smart

A proven process increases hiring success rate to 90%










21. Do you have every major role in your company filled with an “A” Player?










22. Do you use Psychometric Profiling Tools?












“At work, I have the opportunity to do

what I do best every day”










STRENGTHS










Listening

Listener or Talker?

Talking

Care more about task or people?

Task

People

Listening Talking

Task

People

Compliance

C DDominance

Steadiness

S I

Influence

Listening Talking

Task

People

C D

S I

PrecisePerfectionist

ObjectiveCreates / follows rules

LogicalFormal

DisciplinedStructured

Strong-willedCompetitive Fast decisionsIndependentSelf-confidentResults focusBig picture focus

SteadyReliable

Calm / Patient Builds trust

Deliberate & systematic

CarefulConsiderate

Understands othersGood listener

SociableTalkativeOpenFriendlyEnthusiasticPersuasiveAnimatedPositiveExcited

Listening Talking

Task

People

C D

S I

Bogged down in detailsCriticises

Risk averseOnly listens to facts / evidence

Not concerned by other’s feelingsWithdrawn / overly formal

UnemotionalDoes not express opinions / just facts

Domineering Demanding / aggressiveBluntThink their opinion = factImpatient / gets bored easilyInterrupts / impoliteSelfish / not team playerForgets the details / not thorough

Not persistentEmotionalAvoids conflictTalks about themselves Doesn’t listenDisorganised / Error proneAvoids unpleasant subjectsGets bored with routine

Over commitsResists new ideas

BureaucraticStubborn

Very opinionatedDoesn’t initiateOverly cautiousResists change

22. Do you use Psychometric Profiling Tools?










VISION

STRATEGY

ENGAGEMENT

ACCOUNTABILITY

CADENCE























CADENCE


















QuarterlyWeekly

Those who plan the fight don’t fight the plan




















23. Has your Strategic Plan been updated in the last 90 days?










Does your management conduct well-structured "execution meetings"

with your team members on a weekly basis?










24. Does your management conduct well-structured "execution meetings"

with your team members on a weekly basis?










25. Do you hold your team members accountable for execution progress every week?












26. Do you review your strategy execution and results every quarter?




















VISION

STRATEGY

ENGAGEMENT

ACCOUNTABILITY

CADENCE

















Out there in some garage is an entrepreneur who's forging a bullet with your company's name on it.

You've got one option - shoot first










Simon Mundell

EO Austin Texas Oct 2013

Business

Transcript of EO Austin Texas Oct 2013