Path to Realizing Revenue Acceleration | Stratapult Advisors | Mark Dresdner

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A step-by-step process to a clear strategic plan and implementation approach that facilitates dramatic business growth. The clarity and focus helps leaders bust out of the shackles of run-the-business …

A step-by-step process to a clear strategic plan and implementation approach that facilitates dramatic business growth. The clarity and focus helps leaders bust out of the shackles of run-the-business activities and realize dramatic revenue acceleration.

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  • 1. 1  ©  Stratapult  Advisors  2013       A  Path  to  Realizing  Revenue  Accelera3on   Strategy  through  Implementa;on                         Mark  Dresdner   Stratapult  Advisors   Mark@StratapultAdvisors.com   StratapultAdvisors.com  
  • 2. 2  ©  Stratapult  Advisors  2013   ©  Stratapult  Advisors  2013   All  Rights  Reserved   Reproduc;on  of  any  por;on  of  this  document  is  not  permiCed  without  wriCen   consent  of  Stratapult  Advisors,  LLC.  You  or  your  company  cannot  copy  this   Intellectual  Property  informa;on  or  republish  it  in  any  other  form,  in  print  or   electronically,  without  wriCen  approval.     For  ques;ons,  contact  Mark  Dresdner  at  Mark@StratapultAdvisors.com   LEGAL  NOTICE  
  • 3. 3  ©  Stratapult  Advisors  2013   A  clear  strategic  plan  and  implementa3on  approach  facilitates  drama3c  business  growth,   because  it  provides  strategic  clarity  and  helps  leaders  bust  out  of  the  shackles  of  run-­‐the-­‐ business  ac3vi3es.     •  Do  you  truly  want  to  realize  drama;c  business  growth—improving  both  revenue  and   your  company’s  value?  What’s  holding  you  back?     •  There  are  two  frequent  factors  killing  a  CEO’s  ability  to  realize  business  growth  well   above  the  market:   –  Lack  of  strategic  clarity:  Defining  what  the  company  should  achieve  and  by  when   and  then  ploZng  a  path  to  realize  the  vision     –  Inability  to  breaking  out  of  day-­‐to-­‐day  run-­‐the-­‐business  ac3vi3es:  Channeling   energy  toward  transforma;onal  changes,  not  incremental  tweaks,  daily   “emergencies,”  and  rituals   •  Strategic  clarity  coupled  with  a  pragma;c  implementa;on  plan  helps  repriori;ze   ac;vi;es  so  that  business  leaders  can  be  real  drivers  of  their  company's  future,  not   passengers   INTRODUCTION  
  • 4. 4  ©  Stratapult  Advisors  2013   A  roadmap  built  on  strategic  and  implementa3on  considera3ons  provides  the  most  effec3ve   path  toward  revenue  accelera3on.     ROADMAP  TO  REVENUE  ACCELERATION   Implementa;on:   Path  to  Desired  Des;na;on   Vision  and  Strategy:   Where  We  Want  To  Go   Current  Situa;on:   Where  We  Are  Today   Customer  Segments   Compe;;ve  Landscape   Industry  Dynamics   Company’s  Current   State—SWOT     Vision  and  Goals   Target  Customer  Segment   Market  Differen;a;on   Brand  Posi;on   Implementa;on  Plan   Con;nuous  Customer   Feedback   Customer  and  Market   Intelligence   Virtuous  Cycle  of  Tes;ng   and  Improving   “Tac3cs  without  strategy  is  the  noise  before  defeat.”   Sun  Tzu,  Author  of  The  Art  of  War   Making  the  Brand  Real  –  All   Customer  Touch  Points   Marke;ng  Plan:  Promo;on,     Product,  Price,  People,  Place   Investment  Alloca;on:   Direc;onal  Policy  Matrix  
  • 5. 5  ©  Stratapult  Advisors  2013   Segment  the  market  into  customer  segments,  this  will  help  you  iden3fy  your  target  customers.     Before  choosing  your  target  customers,  ask   the  following:   •  What  are  the  different  customer   segments?   •  How  large  are  the  customer  segments?   CUSTOMER  SEGMENTS   Psychographics   Demographics   Behavioral   Needs   Geographic   Industry,  company  size,  stage  in  lifecycle   (e.g.  re;red,  recently  married),  gender,   age,  and  occupa;on   Values,  personality  type,  and  lifestyle     Brand  loyalty,  shopping  and  buying   habits,  usage  by  ;me  (e.g.  day  of  week,   length  of  usage),  affilia;on  to  loyalty   programs,  and  who  pays  (e.g.  customer   or  employer)   Region,  city,  climate,  and  popula;on   density   Service  levels,  financing  terms,  product   aCributes,  and  delivery  ;me.     ATTRIBUTES  TO  CONSIDER  WHEN  CREATING   CUSTOMER  SEGMENTS  
  • 6. 6  ©  Stratapult  Advisors  2013   Understanding  a  company’s  compe33ve  advantages  and  disadvantages  is  core  to  determining   how  to  best  compete.     COMPETITIVE  LANDSCAPE   Low             High   ATTRIBUTE   YOUR  FIRM   COMPETITOR  A   COMPETITOR  B   COMPETITOR  C   High  Price   Product   Quality   Product   Func;onality   Brand   Strength   Customer   Service   Distribu;on   Network   Focus  on  aCributes  most   important  to  the  industry   and  customers.  
  • 7. 7  ©  Stratapult  Advisors  2013   An  understanding  of  industry  dynamics  highlights  opportuni3es  for  compe33ve  advantage  and   pricing  power  as  well  as  challenges  that  need  to  be  managed.     INDUSTRY  DYNAMICS   Supplier  Power   •  Brand  reputa;on   •  Pricing  strength   •  Alterna;ve  customers   •  Product/service  quality   •  Customer  rela;onship     Industry  Rivalry   •  #  of  firms     •  Market  share   •  Level  of  differen;a;on   •  Variable  vs.  fixed  costs   •  Industry  size  and  growth   Buyer  Power   •  #  of  buyers  in  market   •  Volume,  other  terms     •  Choice  of  op;ons   •  Cost  of  switching  vendor     Threat  of  Entrants   •  Barriers  to  entry   •  Capabili;es  required   •  Compe;;ve  resistance       Use  framework  for  a   general  discussion  on   important  industry  factors.   Threat  of  Subs3tutes     •  Capability  and  cost   •  Switching  costs   •  Brand  strength   •  Trends     Environmental   •  Poli;cal     •  Economic   •  Social   •  Demographics   •  Technological  
  • 8. 8  ©  Stratapult  Advisors  2013   SWOT  analysis  provides  a  concise  summary  of  items  to  consider  during  strategic  planning.   COMPANY’S  CURRENT  STATE—SWOT  ANALYSIS   STRENGTHS   •  Strong  brand  recogni;on   •  Large  customer  base   •  Personal  rela;onships  with  many  key  customers   •  Broad  global  network  of  partners   •  Low  cost  material  via  volume  discount  from  suppliers   WEAKNESSES   •  An;quated  systems  causing  billing  errors  and  inefficient   labor   •  High  dependence  on  leads  from  one  strategic  partner  who’s   own  volumes  are  declining   •  Online  presence  is  limited  and  less  than  some  compe;tors   •  30%  of  revenue  is  from  four  customers  –  if  they  ler  it   would  provide  a  cash  flow  strain     OPPORTUNITIES   •  Develop  online  tools  to  help  enhance  customer   communica;ons  and  sales   •  Expand  distribu;on  channels—including  online   •  Deploy  an  efficient  and  effec;ve  opera;ons  system— lower  costs  and  improve  customer  experience   •  Upgrade  inbound  marke;ng  technology  to  provide   addi;onal  and  beCer  quality  leads  for  Sales   THREATS   •  New  local  compe;tors  compe;ng  on  price   •  Some  important  sales  channels  are  not  available  due  to   compe;tors  seZng  up  barriers     •  Historical  value  proposi;on  is  losing  its  relevance  as  the   needs  of  the  market  change   •  Transparency  for  customers  is  increasing  and  sparking  a   price  war  
  • 9. 9  ©  Stratapult  Advisors  2013   Harvest/Divest   • Prune   • Prepare  for  exit   • Maximize  cash  genera;on   Maximize  Cash  Flow   • Limit  investment  to  clear  returns   • Choose  profit  over  market  posi;on   • Seek  opportunis;c  sale   Opportunis3c  Expansion   • Search  for  ways  to  strengthen   posi;on,  e.g.  acquisi;on   • Seek  niches;  specialize   • Monitor;  be  prepared  to  retreat   • Joint  venture,  license,  or  divest,  if   unable  to  strengthen  posi;on   Maximize  Profitability   • No  non-­‐essen;al  investment   • Don’t  accept  loss  orders   • Profit  is  top  priority   • Opportunis;c  sale   Limit  Expansion   • Emphasize  segmenta;on   • Invest  for  earnings  growth/cost   reduc;ons   • Focus  on  vulnerability  and   con;ngency  planning   Aggressive  Growth   • Assess  risk  of  challenging  for  market   leadership   • Sacrifice  current  profit  for   strengthened  posi;on   • Product  development  to  fill  out   weaknesses   Maintain  Profitability   • Strictly  contain  risk   • Sacrifice  share  for  profitability   • Maintain  posi;ve  cash  flow   • Reduce  fixed  costs   • Monitor  for  opportunity  to  divest   Maintain  Leadership   • Invest  for  preserva;on  of  posi;on  in   most  aCrac;ve  segments   • Start  containing  risk  by  choosing   profit  over  high  cost  expansion   • Expand  if  growth  is  possible  with   low  risk   Defend  Leadership  Posi3on   • Hold  leadership  market  share   • Diversify   • Accept  moderate  near-­‐term  profits   with  nega;ve  cash  flow   • Intensive  product  and  market   development   Business  Strength  /  Compe33veness   Market  Aarac3veness   High  Low   High   Low   Manage  for  Profit   Opportunis;c   Invest   INVESTMENT  ALLOCATION:  DIRECTIONAL  POLICY  MATRIX   Plocng  each  product  and  service  on  the  Direc3onal  Policy  Matrix  (Compe33veness  vs.   Market  Aarac3veness)  provides  a  recommenda3on  on  the  investment  level  in  each.  
  • 10. 10  ©  Stratapult  Advisors  2013   A  roadmap  built  on  strategic  and  implementa3on  considera3ons  provides  the  most  effec3ve   path  toward  revenue  accelera3on.     ROADMAP  TO  REVENUE  ACCELERATION   Implementa;on:   Path  to  Desired  Des;na;on   Vision  and  Strategy:   Where  We  Want  To  Go   Current  Situa;on:   Where  We  Are  Today   Vision  and  Goals   Target  Customer  Segment   Market  Differen;a;on   Brand  Posi;on   Implementa;on  Plan   Con;nuous  Customer   Feedback   Customer  and  Market   Intelligence   Virtuous  Cycle  of  Tes;ng   and  Improving   “Tac3cs  without  strategy  is  the  noise  before  defeat.”   Sun  Tzu,  Author  of  The  Art  of  War   Making  the  Brand  Real  –  All   Customer  Touch  Points   Marke;ng  Plan:  Promo;on,     Product,  Price,  People,  Place   Customer  Segments   Compe;;ve  Landscape   Industry  Dynamics   Company’s  Current   State—SWAT     Investment  Alloca;on:   Direc;onal  Policy  Matrix  
  • 11. 11  ©  Stratapult  Advisors  2013   A  company’s  vision  provides  the  founda3on  for  all  decision  making.   TODAY   IN  3  YEARS   Revenue   $42m   $80m   Profit  (%)   6%   12%   Market  Posi;on  /   Share   4  /  7%   2  /  13%   Geography   US   US,  Ireland,  Singapore,  China   Products   Full  service  xyz   Full  service  +  self  service  xyz   Staff     49   54   Other         Opera;onal  technology   comprises  7  loosely   connected  programs   Opera;onal  technology  has  4   or  less  integrated  programs     VISION  &  BUSINESS  PLAN  GOALS   Focus  on   aCributes  core   to  the  vision.  
  • 12. 12  ©  Stratapult  Advisors  2013   Customer  segmenta3on  and  iden3fying  who  is  a  target  is  a  core  driver  of  company   profitability.     CUSTOMER  SEGMENTATION  &  TARGETS:  BACKGROUND   WHY  SEGMENT  CUSTOMERS   •  Trying  to  market  and  sa;sfy  everyone  in   the  market  will  result  inefficiencies:   –  Marke;ng  messages  that  fail  to  deeply   resonate  with  anyone   –  Confusion  within  opera;ons  and   strategic  planning,  e.g.,  what’s  more   important,  low  cost  manufacturing  or   product  innova;on  and  quality?     •  Inves;ng  ;me  and  money  aCrac;ng  the   wrong  customers  will  be  a  drain  on  your   return  on  investment   SEGMENTATION  CONSIDERATIONS   •  Customers  can  be  segmented  using  a  variety   of  aCributes:   –  Geography   –  Demographics   –  Psychographics:  values,  lifestyle   –  Behavioral:  loyalty,  buying  habits,  usage   by  ;me,  who’s  paying  (company  or  self)   –  Needs:  service  levels,  financing  terms,   product  aCributes,  delivery  ;me     •  Effec;ve,  prac;cal  target  customer   segments:   –  Are  iden;fiable  (one  can’t  market  to   those  one  cannot  reach.)   –  Have  needs  that  can  be  met   –  Can  sustain  aCrac;ve  profits  (margin   and  volume)  
  • 13. 13  ©  Stratapult  Advisors  2013   Dis3nct  customer  segments  help  one  iden3fy  groups  of  customers  and  their  aaributes,  and   hence  their  aarac3veness  to  the  business.   CUSTOMER  SEGMENTATION  EXAMPLE   Company   or  Client   Pays   Flyer   Pays   Personally   Usage  Level   Few   Many   Length  of  Stay   Short   Long   Short   Long   Who  Pays   Trips  per  Year   Corporate,   office  bound     Corporate,   office  bound   Execu;ve   corporate  road   warrior   Project  /  trainer  /   corporate  road   warrior     Consultant   Small  business:   execu;ve  or   consultant   Wealthy  leisure   traveler,  could  be   baby  boomer   Small  business:   execu;ve  or   consultant   Wealthy  leisure   traveler,  could  be   baby  boomer   One  or  twice  a   year  leisure   traveler   Small  business,   office  bound     One  or  twice  a   year  leisure   traveler   Small  business,   office  bound     CUSTOMER  SEGMENTATION  FOR  AIR  TRAVELERS  
  • 14. 14  ©  Stratapult  Advisors  2013   Successful  companies  are  fana3cal  about  one  discipline  of  excellence.     DISCIPLINE   COMPANY  TRAITS   EXAMPLE  BRANDS   Opera3onal   Excellence   •  Efficient  standard  opera;ng  procedures   •  Simple,  quick  customer  service   •  Predictable  products  and  services   •  Dell   •  McDonalds   •  Amazon   Product   Leadership   •  Innova;ve  products  and  services   •  Entrepreneurial  culture  that  rewards  out-­‐of-­‐the-­‐box   thinking   •  Bose     •  Apple   •  Porsche   Customer   In3macy   •  Flexible  products  and  services  to  meet  each   customer’s  needs   •  Staff  with  customer  contact  have  significant   autonomy—keeping  the  customer  happy  is  of   primary  concern   •  IBM   •  St  Regis   •  Nordstrom   MARKET  DIFFERENTIATION:  DISCIPLINES  OF  EXCELLENCE   •  While  all  disciplines  (opera;onal  excellence,  product  leadership,  and  customer  in;macy)  need  to   be  executed  to  an  acceptable  level,  a  company  should  focus  on  one  disciple  of  excellence:   – Trying  to  make  more  than  one  core  to  the  brand  will  result  in  diluted,  sub-­‐op;mal  results   – Aiming  to  be  all  things  to  all  people  will  create  an  offering  that  is  mediocre  at  best  
  • 15. 15  ©  Stratapult  Advisors  2013   Stressing  your  points  of  differen3a3on  to  your  customers  and  internal  staff  helps  your   company  stand  out.   BRAND  DIFFERENTIATION:  POINTS  OF  DIFFERENCE   Current  Reasons   •  …     •  ...   •  …   Future  Reasons  (ones  that  you  plan  on  crea3ng)   •  ...   •  …   •  …   Reasons  your  product  /  service  stands  out    from  your  compe;tors  for   your  target  customers:  
  • 16. 16  ©  Stratapult  Advisors  2013   A  brand  posi3oning  statement  defines  your  brand.   BRAND  POSITIONING  STATEMENT   Target  customers:  types  of  customers  the  company  is  marke;ng  to   Frame  of  reference:  where  the  brand  fits  within  the  market   Point  of  differen3a3on:  what  makes  the  brand  special   Benefits  for  the  target  customers:  why  customers  would  prefer  the  product  or   service   INGREDIENTS  FOR  A  BRAND  POSITIONING  STATEMENT   SAMPLE  POSITIONING  STATEMENT   To  the  ;me-­‐starved  home  owner  with  a  lawn,  one  applica;on  of  WEEDS  GOODBYE   kills  weeds  in  your  lawn  completely  and  quickly,  with  visible  results  within  hours   without  effec;ng  the  grass.  Other  weed  killers  destroy  grass  or  take  mul;ple   applica;ons  over;me  to  work.  In  the  baCle  with  weeds,  do  not  waste  ;me  or  risk   losing  your  lawn,  use  WEEDS  GOODBYE.  
  • 17. 17  ©  Stratapult  Advisors  2013   Every  customer  touch-­‐point  either  for3fies  or  contradicts  the  brand  posi3oning.       MAKING  THE  BRAND  REAL  IN  CUSTOMERS’  MINDS   EXAMPLE  OPERATIONAL  ACTIONS  TO  IMPLEMENT  A  BRAND  POSITIONING     (Focus  on  speed  and  service  at  a  retailer)         •  A  brand’s  posi;oning  (its  value  proposi;on)  cannot  be  a  secret  within  marke;ng,  it   must  be  a  compass  for  the  en;re  company   •  Every  customer  touch-­‐point  either  for;fies  or  contradicts  the  brand  posi;oning   Receiving  Email   Response   Calling  Customer   Service   • Was  customer’s  ques;on  answered  quickly?  (speed)   • Did  wording  reiterate  the  brand,  e.g.  “I’ll  process  this  order  right  away   and  have  it  in  the  mail  today.”?  (service,  speed)   • Was  the  transac;on  fast?  (speed)   • Did  the  cashier  thank  the  customer?  (service)   • Was  the  cashier  friendly?  (service)   • Was  the  response  quick?  (speed)   • Did  the  response  address  the  customer’s  ques;ons?  (service)   • Did  the  wording  reiterate  the  brand?  (speed,  service)   • Did  an  associate  offer  assistance?  (speed,  service)   • Was  the  associate  friendly?  (service)   • Was  the  customer  able  to  find  what  they  wanted  easily?  (speed)   Paying  Cashier   in  the  Store   Walking  Around   the  Store  
  • 18. 18  ©  Stratapult  Advisors  2013   The  marke3ng  plan—product,  place,  promo3on,  price  and  people—provides  the  framework  to   connect  target  customers  with  the  product,  and  hence  drive  sales.   Product  Place     People   Price   Promo3on   MARKETING’S  5  PS   MARKETING  PLAN   Product  types,  func;onality,   and  service   Adver;sements  for  customer   acquisi;on  and  reten;on   Distribu;on  channels,   customer  touch-­‐points   Price  op;miza;on,  considering   segments  and  profitability   Culture,  compensa;on,  and  tasks  to   support    delivering  the  brand  promise    
  • 19. 19  ©  Stratapult  Advisors  2013   A  roadmap  built  on  strategic  and  implementa3on  considera3ons  provides  the  most  effec3ve   path  toward  revenue  accelera3on.     ROADMAP  TO  REVENUE  ACCELERATION   Implementa;on:   Path  to  Desired  Des;na;on   Vision  and  Strategy:   Where  We  Want  To  Go   Current  Situa;on:   Where  We  Are  Today   Vision  and  Goals   Target  Customer  Segment   Market  Differen;a;on   Brand  Posi;on   Implementa;on  Plan   Con;nuous  Customer   Feedback   Con;nuous  Improvement   Based  on  Learnings   “Tac3cs  without  strategy  is  the  noise  before  defeat.”   Sun  Tzu,  Author  of  The  Art  of  War   Making  the  Brand  Real  –  All   Customer  Touch  Points   Marke;ng  Plan:  Promo;on,     Product,  Price,  People,  Place   Customer  Segments   Compe;;ve  Landscape   Industry  Dynamics   Company’s  Current   State—SWAT     Investment  Alloca;on:   Direc;onal  Policy  Matrix  
  • 20. 20  ©  Stratapult  Advisors  2013   An  implementa3on  plan  that  is  simple  to  follow  and  agreed  upon  by  the  whole  team  will   provide  an  efficient  roadmap  and  help  keep  expecta3ons  in-­‐sync.     IMPLEMENTATION  PLAN   KEYS  TO  EFFECTIVE  IMPLEMENTATION  PLANNING   •  Use  simple  visual  plan.  GANTT  charts  are  a  prac;cal  op;on   •  Develop  with  the  team  to  gain  buy-­‐in  and  alignment   •  Review  for  dependencies  between  tasks   •  Define  what,  when  and  how  for  each  task   •  Ini;ally  develop  the  task  level  at  a  high-­‐level  and  create  more  details  as  one   nears  execu;on  for  the  task   •  Remain  flexible,  adjus;ng  the  plan  as  new  lessons  are  learned  (customer   feedback,  compe;tor  moves,  new  ideas  from  the  team)     EXAMPLE  GANTT  CHART  
  • 21. 21  ©  Stratapult  Advisors  2013   Gaining  regular  customer  feedback  helps  keep  the  company  in-­‐touch  with  a  constantly   changing  market.     CONTINUOUS  CUSTOMER  FEEDBACK   BEGIN  NOW…   …VIA  AN  INCREMENTAL,  ITERATIVE  APPROACH,  LEARN  ALONG  THE  WAY     YOU  CAN’T  WAIT  UNTIL  YOU  HAVE  A  PLAN  BASED  ON  PERFECT  MARKET  INFORMATION,  BECAUSE   YOU  NEVER  WILL   •  Market  is  always  changing   •  Customer  feedback  is  limited.  Oren  your  idea  isn’t  a  solu;on  they  have  seen.  (Customers  didn’t  know  they   wanted  the  iPhone,  Walkman,  or  Model-­‐T  Ford  un;l  they  saw  the  product.)   •  With  a  general  understanding  for  the  market  as  it  stands  today,  your  vision  is  unlikely  to  be  so  far  off  that   lots  of  work  will  be  wasted  
  • 22. 22  ©  Stratapult  Advisors  2013     Lessons  Learned     Improvements   Ac3ng  on  lessons  learned  to  make  improvements  regularly  to  the  strategy  will  keep  the   company  nibble  and  relevant  in  the  market.     CONTINUOUS  IMPROVEMENT  BASED  ON  LEARNINGS   A  series  of  small  changes  on  the  path   to  a  larger  change  is  preferable:  lower   risk,  more  manageable,  opportuni;es   to  quickly  incorporate  feedback   Con;nuous  tes;ng  and  ac;ng  on   lessons  learned  fuels  an  ongoing   pursuit  of  op;mizing  value  crea;on  
  • 23. 23  ©  Stratapult  Advisors  2013   Are  you  a  mid-­‐sized  or  startup  company  that  is  ready  to  accelerate  your   revenue  growth?     Contact  Stratapult  Advisors  to  see  if  we  can  help!   •  From  idea  genera;on  through  implementa;on   •  Results,  not  reports   •  Typical  results:  10%  to  100%+  increase  in  profit   Learn  more  by  visi;ng  StratapultAdvisors.com  or  contac;ng  Mark  Dresdner  at  Mark@StratapultAdvisors.com   Mark  Dresdner,  Managing  Director,  Stratapult  Advisors     Mark  collaborates  with  management  teams  to  realize  revenue  accelera;on  as  an  interim  or  part-­‐;me  Chief   Revenue  Officer.  He  applies  a  hands-­‐on  approach  covering  strategy  development  through  implementa;on  for   companies  with  growth  aspira;ons.  His  experience  spans  startups  to  Fortune  500  firms.  He  has  worked  as  a   management  consultant  at  Accenture,  led  revenue  strategies  globally—including  pricing—at  Starwood  Hotels,   guided  strategy  and  pricing  at  a  $1b  avia;on  company,  and  spearheaded  growth  at  por|olio  companies  held   by  private  equity  firms.  He  has  been  designated  a  Cer;fied  Pricing  Professional  from  the  Professional  Pricing   Society.  Mark  earned  a  Bachelor  of  Engineering  from  the  University  of  New  South  Wales,  Australia   (Valedictorian)  and  an  MBA  from  the  Kellogg  School  of  Management,  Northwestern  University  (Beta  Gamma   Sigma).