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Building Business Value

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More often than not, the problem underlying valuation issues for small businesses is lack of strategic clarity. That’s not surprising, since one of the major challenges during Stage 2 is the need for …

More often than not, the problem underlying valuation issues for small businesses is lack of strategic clarity. That’s not surprising, since one of the major challenges during Stage 2 is the need for more defined strategy coupled with deliberate planning processes that engage the entire organization — a big change from what was needed during Stage 1.

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  • The ratio phishows up again and again in the natural worldPhi provides the structure that enables complex systemslike shells and solar systemsto sustain and growPhimation creates simple and adaptable structuresthat enable optimal performanceduring the complex and messy process of evolution
  • 45, 20, 15, 10, 10
  • Tactics -> Strategies; Activities -> Objectives/Results; Reactive -> Proactive
  • Talk about what marketing is – not stuff that looks good; Stevens story; you should be worried; 95% of firms; marketing is structuring the customer experience
  • Opportunity to manage to higher value with each customer by improving sales dialoguesOpportunity to increase value of “customer portfolio” by better allocating resourcesNeed to manage more, and more complex, customer relationships with improved systems and structure
  • At start of relationship, discussions are about need. 2 things can happen – transition to other sales people – don’t do need, or time passes and don’t align with new need
  • Engineers
  • Neuman
  • Measure, continue strategy/plan/research
  • Measure, continue strategy/plan/research
  • Increasingly targeted services, increasingly personal and personalized focusAll wrapped in the content represented in the S2OM
  • Transcript

    • 1. Building Business ValueStage 2 Education Series WorkshopSponsored by Fifth Third Bank November 9, 2010
      Dave Haviland
      dave@phimation.com
      734 717-4955
      Randy Albert
      randy@phimation.com
      734 255-2747
    • 2. Phimation – The Natural Force of Evolution
      2
      phi
      is the ratio of spirals
      Phimation
      is the force that
      organizes systems for
      function and creativity
    • 3. Phimation Strategy Group
      Strategy development and strategic execution
      Experience
      • Operating leadership experience with Stage 0/1/2 businesses
      • 8. Worked with about 4 dozen companies since 2001
      • 9. On the Boards of 4 companies
      • 10. Raised $30MM in private and public capital
      • 11. Managed radical-improvement initiatives for dozens of companies
      © Phimation Strategy Group
      3
    • 12. 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?
      4
    • 13. A Primer on Stage 2 management
    • 14. Stage 3
      Stage 2
      Stage 1
      Stage 0
      Organizational Growth
      © Phimation Strategy Group
      5/3 S2ES Workshop
      6
    • 15. Complexity Grows Significantly
      Interdependencies
      # of components
      (staff, customers, suppliers)
      © Phimation Strategy Group
      5/3 S2ES Workshop
      7
    • 16. The Stage 2 Leadership Playbook
      8
      Stage 2 Leadership
      Direction
      Management
      Ownership
      Focus Attention
      Provide the Right Frame
      Define & Ensure Decision-Making
      Lead Creation of Vision
      Manage Owners
      Define & Ensure Culture
      Define & Ensure Governance
      Ensure Performance
    • 17. Stage 1 Stage 2 Transition
      © Phimation Strategy Group
      5/3 S2ES Workshop
      9
    • 18. Stage 1 Stage 2 Transition
      © Phimation Strategy Group
      5/3 S2ES Workshop
      10
    • 19. =
      =
      Stage 1 Stage 2 Transition
      © Phimation Strategy Group
      5/3 S2ES Workshop
      11
    • 20. Stage 1 Stage 2 Transition
      © Phimation Strategy Group
      5/3 S2ES Workshop
      12
    • 21. Stage 1 Stage 2 Transition
      1.
      2.
      3.
      1.
      2.
      3.
      © Phimation Strategy Group
      5/3 S2ES Workshop
      13
    • 22. Stage 1 Stage 2 Transition
      © Phimation Strategy Group
      5/3 S2ES Workshop
      14
    • 23. Stage 1 Stage 2 Transition
      AaAbbbBCccDdDd
      AB
      CD
      bbb
      aaa
      ddd
      ccc
      © Phimation Strategy Group
      5/3 S2ES Workshop
      15
    • 24. 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
      16
    • 25. Table Discussion
      What did we hear?
      What are our reactions?
      What questions do we have?
      17
    • 26. Driving revenue
      18
    • 27. The Revenue Generation Funnel
      19
      1:Many
      Education
      1:1
      Listening & Responding
      Marketing
      Sales
    • 28. The Customer Experience
      20
      Services
      Product
      Intangibles
      20% of customer focus
      80% of company focus
      80% of customer focus
      20% of company focus
    • 29. Improving your sales
      21
    • 30. Improved Sales Management Drives Results in Stage 2
      22
      More value with each customer
      Improved customer dialogue
      More value with all customers
      Improved resource allocation
      More productivity in sales team
      Improved structure & systems
    • 31. Value
      that your customer
      creates (or avoids)
      using your solution
      Focusing on Value
      23
      How much of this
      do you help to create?
      Cost
      of your solution
      How much of this
      do you keep?
    • 32. The Buyer’s Process
      24
      Challenge
      Need
      Solution
      Assessment
    • 33. Playing in the Value Game
      25
      Challenge
      Need
      Solution
      Assessment
      When Value Is Determined
      When Many Sales Discussions Begin
    • 34. Communicating with Customers
      26
      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
    • 35. Communicating with Customers
      27
      How does it work?
      What does it do?
      X
      Why is this competitively better?
      Who will benefit from this?
      Where can this take us?
      Courtesy Jim Pancero Inc. www.pancero.com
    • 36. Better Customers Yield Better Profits
      28
      Great
      Customer
      Profitability
      Customer
      Quality / Fit
      Poor
    • 37. Better Customers Yield Better Profits
      29
    • 38. Better Customers Yield Better Profits
      30
    • 39. Finding the Right Buyers
      31
      Challenge
      Need
      Solution
      Assessment
      “I know the problem well”
      Customer
      Perception
      of
      Complexity
      &
      Value
      “I had no idea that was the problem”
      “Oh, that’s all there is to the problem?”
    • 40. Scope and Complexity of Responsibility
      32
      75
      5
      20
      5
      5
      5
      5
      5
      5
      5
      5
      5
      5
      5
      5
      5
      5
      5
      5
    • 41. Segmenting Your Customer Base
      33
      Top 20%
      Middle 40%
      Profit
      Bottom 40%
    • 42. Segmenting Your Customer Base
      34
      Key Account Management
      1:1 Programs
      Top 20%
      Middle 40%
      Profit
      Account Management
      1:Many Programs
      Bottom 40%
      Account Service
    • 43. Stage 1 Sales Ecosystem
      35
      Your Company
    • 44. Stage 2 Sales Ecosystem
      36
      Your Company
      Sales
    • 45. Manage the complexity with a plan
      37
      Sales Plan
      What to Do
      How to Do It
      Situation
      Objectives
      Tactics
      Channels / Staffing
      Budget
      Timing
      Campaigns & Initiatives
      Customer Segments
      Sales Process
    • 46. 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
      38
    • 47. 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?
      39
    • 48. Improving your marketing
      40
    • 49. Your Marketing Activities
      41
      Brochures
      Trade Shows
      Advertising
      Web site
      SEO/SEM
      Social Media
    • 50. The Stages of a Decision
      42
      Unaware
      Aware
      Interest
      Desire
      Commitment
      Purchase
      Marketing
      1:Many
      Sales
      1:1
    • 51. The Marketing Plan
      43
      Marketing Plan
      What to Do
      How to Do It
      Objectives
      Tactics
      Staffing
      Budget
      Timing
      Campaigns & Initiatives
    • 52. Marketing Strategy
      44
      Business
      Strategy
      Marketing
      Strategy
      Marketing
      Plan
    • 53. The Basic Strategy Components
      45
      Vision & Goals
      Business
      Strategy
      Resources
      Value
      Marketing
      Strategy
      Marketing
      Plan
      Targets
      Offerings
      Positioning
    • 54. 46
      Marketing Strategy
      What to Offer
      How to Engage
      How to Do It
      Value
      Communication
      Sales
      Management
      Offerings
      Marketing Plan
      What to Do
      How to Do It
      Objectives
      Tactics
      Staffing
      Budget
      Timing
      Campaigns & Initiatives
    • 55. Your Value – Engaging The Hedgehog Principle
      The fox does many things, but the hedgehog does one important thing.
      47
      Passionate
      about
      Best
      at
      HH
      Economic
      engine
    • 56. 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
      48
    • 57. Case Study
      Walk through marketing challenges with volunteer(s)
      49
    • 58. Wrap up
      50
    • 59. Additional Stage 2 Resources
      Phimation
      Products & Services
      Stage 2 Owner’s Manual
      Stage 2 Education Series
      Stage 2 Coaching Program
      Stage 2 Consulting
      51
    • 60. Stage 2 Owner’s Manual - Uses
      52
      • Leadership Guide
      • 61. Management Training Course
      • 62. Business Improvement Tool
    • Stage 2 Owner’s Manual - Topics
      53
    • Stage 2 Owner’s Manual - Contents
      ~ 20 minute discussion of every topic totaling about 4 hours of DVD video
      54
      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 allcheat sheets, slides, assessment tools and templates
    • 74. 55