Presentation on theme: "“11 STRATEGIES TO ENERGIZE YOUR SERVICES BUSINESS AND PREPARE FOR THE RECOVERY” Presented by: Lisa Nirell EnergizeGrowth® LLC www.energizegrowth.com."— Presentation transcript:
“11 STRATEGIES TO ENERGIZE YOUR SERVICES BUSINESS AND PREPARE FOR THE RECOVERY” Presented by: Lisa Nirell EnergizeGrowth® LLC www.energizegrowth.com
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
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
Here’s An Example… “We recently re-branded our company and expanded abroad. Our executives were spending nearly half of our time sorting out customer misunderstandings and internal communications problems, and very little time on planning. After working with Lisa and her team, we have linked our strategy 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 our innovative cash management strategies.” -Bob Zeigenfuse, President, Avanceon Inc.
1. Strategic market imperatives 2. Consequences and Impact 3. The Unique Value and Ultimate Result (UR-UV Factor) 4. The gaps that stop you from delivering on this value 5. Your Ideal Client 6. Elevator Statement 7. Your Vivid Vision 8. Your Company Values 9. Top 3-5 SMART Objectives over the Next 12 Months 10. “Stop Doing” List 11. Measures of Success 11 Strategies that Define a Wealthy Business
Strategy #2: Consequences & Impact “The World Is Ch-Changing … What About Your Business?” CLIENTS Declining loyalty Want lower pricing Will not pay extra for ‘value added offerings” Slow decision-making CLIENTS Declining loyalty Want lower pricing Will not pay extra for ‘value added offerings” Slow decision-making FINANCIAL Shrinking margins Tighter access to credit Increased cost of labor, materials Regulatory uncertainty FINANCIAL Shrinking margins Tighter access to credit Increased cost of labor, materials Regulatory uncertainty CULTURE Fear of risk No succession strategy Frequent communications breakdowns Allergic to planning Shiny Penny Syndrome CULTURE Fear of risk No succession strategy Frequent communications breakdowns Allergic to planning Shiny Penny Syndrome
Growth Stages Offer Clues to Impact …What Growth Stage Are You Facing? …What Growth Stage Are Your Clients Facing?
Scaling the Walls of Growth Used with permission from Shirlaws Coaching, 2008.
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?
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?
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
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.”
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
FOUR D’s of SEGMENTATION Deportment Behavior Deportment Behavior Dynamics Demographics Dimensions
Services Success = Plan + Strong Culture VISION VALUES/CULTURE MISSION CRITICAL GOALS STRATEGIC GOALS PERSONAL GOALS
VISION Whom the organization wants to become Easy to understand and remember Present tense Emotional appeal Ideal timeframe is 10-20 years Examples: “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
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
VALUES “How you do things” Intrinsic beliefs and behaviors Define your culture and customer perceptions Guide decision making Maximum 4-6 core values
Sample Values Category: Adventure Risk The Unknown SpeculationExperiment Category: To Catalyze SparkFree Others InfluenceStimulate StimulateEncourage Make a Difference Category: To Contribute ServeImprove Augment Category: Mastery ExpertDominate field SuperioritySet Standards Category: To Relate Be connected Build community To unite To nurture FamilyBe linked Category: To Create DesignInvent SynthesizeImagination IngenuityBuild Category: To Discover Lifelong learning Category: To Lead GuideInspire InfluenceCause Arouse Category: To Win Prevail Accomplish Attain Category: To Teach EducateInstruct InformPrepare Enlighten
MISSION A mission statement provides… Direction to all stakeholders Improvement or aspiration 5-10 year time horizon
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
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
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
Strategic Goals =SMART Goals : 1.Each SMART Goal supports at least 1 Critical Goal 2.Timeframe 1-3 months 3.Support personal goals 4.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.
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
THREE KEYS TO ENERGIZEGROWTH ® NOW LAP method Financial Foresight Client Focused Mastery (CFM)
THREE KEYS TO ENERGIZEGROWTH ® NOW TACTIC 1: THE LAP METHOD L = The leaders’ role A = Alignment P = Proactive
TACTIC 2: FINANCIAL FORESIGHT Assign an owner to maintaining your EnergizeGrowth® Plan Root cause analysis Green Light/Red Light
BERYL’S FINANCIAL FORESIGHT: A BALANCED SCORECARD APPROACH Used with permission, The Beryl Companies, 2008.
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
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@example.com@energizegrowth.com Twitter: lisa_nirell www.energizegrowth.com