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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Building Business Value
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
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
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
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?
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
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?”
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
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
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
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