Awesomely Simple Key Strategies for Running a Highly Successful Business John Spence
I will not waste one minute of your time… <ul><li>I have a ton to cover and I will go pretty fast. </li></ul><ul><li>I am ...
A  few of my clients:
For the past 22 years…
What does this mean to me? How can I use this idea? What can I do right away? I am NOT a guru…
The 6 Keys to Controlling the Market <ul><li>People </li></ul><ul><li>VOC </li></ul><ul><li>MOT </li></ul><ul><li>WOM </li...
The Four – I’s <ul><li>Ignorance </li></ul><ul><li>Inflexibility </li></ul><ul><li>Indifference </li></ul><ul><li>Inconsis...
How to avoid the Four I’s  <ul><li>Aggressive external market focus. </li></ul><ul><li>Ridiculously high level of customer...
 
The Pattern of Business Success
(T + C + ECF) x DE = Success
Talent + Culture Talent
Cecil Van Tuyl <ul><li>“ It is all about people, people, people. You can kid yourself about a lot of things in your busine...
<ul><li>The number one factor in increasing the level of highly satisfied and engaged  CUSTOMERS  in your business is…  </...
Job + Organizational Engagement = Employee Engagement
Actively Disengaged Employees… 22%
Key Drivers of Customer Satisfaction and Loyalty T olerate N othing L ess From: Practice What You Preach by Maister Global...
Customer satisfaction drives customer loyalty…  and customer loyalty drives profitability   A  5%  increase in loyalty amo...
Actively disengaged employees can   reduce   revenues   by up to  22%,  while highly satisfied and engaged employees   can...
What do engaged employees look like? <ul><li>They give more discretionary effort. </li></ul><ul><li>They consistently exce...
The Six Universal Drivers of Engagement <ul><li>Caring, competent, and engaging leaders. </li></ul><ul><li>Effective manag...
E xtreme  C ustomer  F ocus
Web of Value:  VOC + MOT + WOM
6. Extreme Customer Focus VOC
M oments  O f  T ruth
WOM = Your BEST form of advertising!  78.9% 23.4%
43% - 74% of purchasing decision = WOM/T
You  MUST  have a   WOM   Referral   System From John Jantsch: The Referral Engine Identify  Ideal  Customer Refer Ideal  ...
Kaizen For those who are prepared… Chaos brings opportunity.
The Evergreen Project <ul><li>10 year study of 160 top companies </li></ul><ul><li>40 distinct industries </li></ul><ul><l...
The Four Primary Practices: <ul><li>A sharply focused, clearly communicated and well-understood strategy for growth. </li>...
The Secondary Management Practices: <ul><li>Talent = find and keep the best people. </li></ul><ul><li>Key leaders show com...
10 – 15%
Where are we going and how will we behave on the way? Focus Differentiation “ No” Guiding Collation Vision + Values Strate...
The 6 Keys to Controlling the Market <ul><li>People </li></ul><ul><li>VOC </li></ul><ul><li>MOT </li></ul><ul><li>WOM </li...
T HANK  Y OU If you have any questions at all please do not hesitate to send a note or call.  My email address is:  john@j...
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Hrpbc Awesomely Simple 5.19.11

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  1. 1. Awesomely Simple Key Strategies for Running a Highly Successful Business John Spence
  2. 2. I will not waste one minute of your time… <ul><li>I have a ton to cover and I will go pretty fast. </li></ul><ul><li>I am happy to answer any of your questions, offer advice and recommend books at any time after this session. </li></ul><ul><li>[email_address] </li></ul><ul><li>The slides are already posted at: </li></ul><ul><li>www.SlideShare.net/johnspence </li></ul>
  3. 3. A few of my clients:
  4. 4. For the past 22 years…
  5. 5. What does this mean to me? How can I use this idea? What can I do right away? I am NOT a guru…
  6. 6. The 6 Keys to Controlling the Market <ul><li>People </li></ul><ul><li>VOC </li></ul><ul><li>MOT </li></ul><ul><li>WOM </li></ul><ul><li>Kaizen </li></ul><ul><li>Execution </li></ul>
  7. 7. The Four – I’s <ul><li>Ignorance </li></ul><ul><li>Inflexibility </li></ul><ul><li>Indifference </li></ul><ul><li>Inconsistency </li></ul>
  8. 8. How to avoid the Four I’s <ul><li>Aggressive external market focus. </li></ul><ul><li>Ridiculously high level of customer focus. </li></ul><ul><li>Keep the “Main Things” the main things. </li></ul><ul><li>Bullish on knowledge sharing and learning. </li></ul><ul><li>Teamwork is mandatory – not optional </li></ul><ul><li>Passion and commitment at all levels. </li></ul><ul><li>Foster a healthy paranoia. </li></ul><ul><li>Revel in change. </li></ul>
  9. 10. The Pattern of Business Success
  10. 11. (T + C + ECF) x DE = Success
  11. 12. Talent + Culture Talent
  12. 13. Cecil Van Tuyl <ul><li>“ It is all about people, people, people. You can kid yourself about a lot of things in your business, but at the end of the day it will always come down to people.” </li></ul>
  13. 14. <ul><li>The number one factor in increasing the level of highly satisfied and engaged CUSTOMERS in your business is… </li></ul>The level of highly satisfied and engaged EMPLOYEES in your business.
  14. 15. Job + Organizational Engagement = Employee Engagement
  15. 16. Actively Disengaged Employees… 22%
  16. 17. Key Drivers of Customer Satisfaction and Loyalty T olerate N othing L ess From: Practice What You Preach by Maister Global study: 16 countries 529 companies 15,589 respondents Chart: 4 Workshop: 5 Financial Performance Quality P&S & Customer Relationship Employee Satisfaction Empowerment High Standards Long-term Orientation Enthusiasm, Commitment, Respect Training & Development Fair Compensation CR= 104.12% increase in profits CR= .404 CR=.334 CR=.277 CR=.275 CR=.249 CR=.280 Coaching CR=.285 CR=.371 CR=.365 CR=.191 CR=.247
  17. 18. Customer satisfaction drives customer loyalty… and customer loyalty drives profitability A 5% increase in loyalty among your best customers… Can produce a profit increase of 25% – 85% I hate you I don’t care about you I love you 100% 90 80 70 60 50 40 30 20 Extremely Dissatisfied Somewhat Dissatisfied Slightly Dissatisfied Satisfied Very Satisfied Zone of Defection Zone of Indifference Zone of Affection Loyalty Customer Satisfaction Terrorist Evangelist
  18. 19. Actively disengaged employees can reduce revenues by up to 22%, while highly satisfied and engaged employees can drive profits up by as much as a 189% Culture = Cash
  19. 20. What do engaged employees look like? <ul><li>They give more discretionary effort. </li></ul><ul><li>They consistently exceed expectations. </li></ul><ul><li>They take more responsibility and initiative. </li></ul><ul><li>They receive better customer service ratings. </li></ul><ul><li>They offer more ideas for improvement. </li></ul><ul><li>They promote and model teamwork. </li></ul><ul><li>They volunteer more for extra assignments. </li></ul><ul><li>They anticipate and adapt better to change. </li></ul><ul><li>They persist at difficult work over time. </li></ul><ul><li>They speak well of the organization. </li></ul>1 - 10
  20. 21. The Six Universal Drivers of Engagement <ul><li>Caring, competent, and engaging leaders. </li></ul><ul><li>Effective managers who keep employees informed, aligned and engaged. </li></ul><ul><li>Effective teamwork at ALL levels. </li></ul><ul><li>Job enrichment and professional growth. </li></ul><ul><li>Valuing employee contributions. </li></ul><ul><li>Concern for employee well being. </li></ul><ul><li>1 - 10 </li></ul>
  21. 22. E xtreme C ustomer F ocus
  22. 23. Web of Value: VOC + MOT + WOM
  23. 24. 6. Extreme Customer Focus VOC
  24. 25. M oments O f T ruth
  25. 26. WOM = Your BEST form of advertising! 78.9% 23.4%
  26. 27. 43% - 74% of purchasing decision = WOM/T
  27. 28. You MUST have a WOM Referral System From John Jantsch: The Referral Engine Identify Ideal Customer Refer Ideal Customer
  28. 29. Kaizen For those who are prepared… Chaos brings opportunity.
  29. 30. The Evergreen Project <ul><li>10 year study of 160 top companies </li></ul><ul><li>40 distinct industries </li></ul><ul><li>200 management practices </li></ul><ul><li>Winners, climbers, tumblers, losers </li></ul><ul><li>Winners had an average Total Return to Shareholders of 945% ... </li></ul><ul><li>The Losers only averaged a TRS of 62% </li></ul>From: What (really) Works by Joyce, Nohria, Roberson
  30. 31. The Four Primary Practices: <ul><li>A sharply focused, clearly communicated and well-understood strategy for growth. </li></ul><ul><li>Flawless operational execution that consistently delivers the value proposition. </li></ul><ul><li>A performance-oriented culture that does not tolerate mediocrity. </li></ul><ul><li>A fast, flexible, flat organization that reduces bureaucracy and simplifies work. </li></ul>
  31. 32. The Secondary Management Practices: <ul><li>Talent = find and keep the best people. </li></ul><ul><li>Key leaders show commitment and enthusiasm for the business. </li></ul><ul><li>Embrace strategic innovation. </li></ul><ul><li>Master the power of partnerships. </li></ul>From: What (really) Works by Joyce, Nohria, Roberson
  32. 33. 10 – 15%
  33. 34. Where are we going and how will we behave on the way? Focus Differentiation “ No” Guiding Collation Vision + Values Strategy Objectives Initiatives Programs Procedures / Protocols Repeatable Process Clear / consistent / relentless Training + time / money / supplies / people Measure / Track Communicate Transparency Accountability Celebrate Success Eliminate Mediocrity
  34. 35. The 6 Keys to Controlling the Market <ul><li>People </li></ul><ul><li>VOC </li></ul><ul><li>MOT </li></ul><ul><li>WOM </li></ul><ul><li>Kaizen </li></ul><ul><li>Execution </li></ul>
  35. 36. T HANK Y OU If you have any questions at all please do not hesitate to send a note or call. My email address is: john@johnspence.com My twitter address is: @awesomelysimple Also, you might find value in the ideas I share in my blog. You can sign up for it at: www.blog.johnspence.com Lastly, these slides have already been uploaded to: www.slideshare.net/johnspence
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