Discovering Prosperity in a Economic Downturn

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Preview of a dynamic workshop that will put your business on the path to success; even in this economy!

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Discovering Prosperity in a Economic Downturn

  1. 1. Discovering Prosperity in An Economic Downturn….Growing Your Future<br />Presented by:<br />Bill McAdory<br />Growth Innovations <br />Copy Right: Growth Innovations 2009<br />1<br />1<br />Copy Right: Growth Innovations 2009<br />
  2. 2. Course Objectives<br />Understand why innovation is critical to business success NOW<br />Understanding a companies true capabilities that translate to future success<br />Identifying new opportunities that fit a company’s capabilities that they can exploit NOW<br />Creating and aligning a new strategy and business plan to leverage the new opportunities in the emerging economy NOW and in the future<br />Copy Right: Growth Innovations 2009<br />2<br />2<br />
  3. 3. Steps to Innovating Your Business<br />Understanding the macro and micro economic realities in your market(s); the new “bottom line”<br />UnderstandBusiness change is difficult; why and how to overcome<br />Uncovering your Businesscompetencies and capabilities; your that will become your keys to future success<br />Creating a more robust and vibrant view of your business to leverage success<br />Understand how to identify opportunities in this disruptive economy<br />Creating innovative action plans to exploit them<br />Copy Right: Growth Innovations 2009<br />3<br />
  4. 4. Growth Innovations<br />The Innovationprocess:<br />Proven models and concepts <br />Utilized by large corporations for years<br />Now modified so that small businesses can apply them<br />A proven pathway to commercial success!<br />Copy Right: Growth Innovations 2009<br />4<br />4<br />
  5. 5. How Opportunities Are Created<br />The Opportunity Continuum <br />Opportunity <br />Identification<br />Accessing <br />Opportunities<br />Exploiting <br />Opportunities<br />The Opportunity Flow<br />5<br />Copy Right: Growth Innovations 2009<br />You Must Look Here!<br />
  6. 6. The InnovationToolbox<br />Change: Overcoming the obstacles to change<br />Assessment: enabling you to see your business at a deeper level <br />Competency Identification: what they are and why you MUST know yours; monetizing your core capabilities<br />Old Tools - used in a new way: Market Intel, Competitive knowledge, Market & product strategies, business planning<br />Opportunity Identification: How to uncover and target opportunities for your business<br />Follow-on: workingyour plan for success and continuous improvement<br />Financial Planning: surviving the downturn<br />Copy Right: Growth Innovations 2009<br />6<br />
  7. 7. The Most Severe Downturn In 26 Years!<br />Copy Right: Growth Innovations 2009<br />7<br />7<br />7<br />
  8. 8. What’s going on?<br />This U.S. economic disruption is caused by the confluence of two simultaneous events:<br />Fundamental changes in the global economy<br />Accelerated business life cycles<br />Low cost labor<br />Technological Innovations<br />Changedcompany reactions to the new global economy<br />A new frugal business climate; lower spending<br />Copy Right: Growth Innovations 2009<br />8<br />8<br />8<br />
  9. 9. What Must I Do?<br />Unfortunately, many are waiting for the “turn around” to rescue them…this will not happen<br />Society is returning to a new “normal”<br />Copy Right: Growth Innovations 2009<br />9<br />9<br />9<br />
  10. 10. Lessons from History<br />1945-1995<br />It was the best of times and the worst of times<br />Busts (deep contractions) followed by predictable expansions led by large “to big to fail companies”<br />It was unrealistic, and unsustainable<br />Major changes were happening in the global economy in a way the U.S. or anyone else could predict or control<br />It robbed people and businesses of their survival skills<br />We were trained that patience was all we needed; things would eventually get better!<br />Copy Right: Growth Innovations 2009<br />10<br />10<br />
  11. 11. What’s The Future?<br />There is no longer a ubiquitous market for your products/services<br />In fact, there is not much of a market at all for some of us<br />It’s now about identifying and pursuing “opportunity,” not simply “hoping or waiting for a recovery”<br />Pursuing success can no longer be business as usual …it must be innovative, different for each company based on their unique blend of competencies and capabilities<br />Copy Right: Growth Innovations 2009<br />11<br />11<br />
  12. 12. Old Success Plan<br />Polishing the old business plan and products/services<br />Keeping your current customers happy<br />Leveraging the latest marketing and sales techniques<br />Driving out unnecessary expenses and waste<br />Copy Right: Growth Innovations 2009<br />12<br />12<br />
  13. 13. Old Success Plan<br />But, it is not working…<br />Do you really think50% of small business in the U.S. are concerned about survival because:<br />Their current product offerings are poor?<br />They are not using the latest marketing and sales techniques?<br />They have not controlled expenses?<br />They have poor employees?<br />They have forgotten the magic words to speak in order to retain customers?<br />….they don’t have enough customers!<br />Copy Right: Growth Innovations 2009<br />13<br />13<br />13<br />
  14. 14. New Way Forward<br />To be successful in today’s economy; <br />A company must have a clear understandingof the disruptive changes that have taken place, <br />And innovate new pathwaysto follow for achieving success<br />Understanding the broadest possible “version” of your business<br />Connectinga properly defined businesswith a large, previously unseen opportunity spacein potential new marketsof your choosing<br />Copy Right: Growth Innovations 2009<br />14<br />14<br />
  15. 15. Where Are The Opportunities?Must See The Complete Market<br />Copy Right: Growth Innovations 2009<br />15<br />To be created<br />Un-articulate opportunity<br />Current Market <br />
  16. 16. The New “Bottom Line”<br />“If you are not doing on a daily basis what IBM or P&G are doing, you will fail” <br />Michael Gerber, author and researcher<br />What IBM and others do is live and breathe innovation in all aspects of their commercial life. They seek constantly to reinvent themselves and their products for continued success.<br />Remember faster life cycles? What got you here may not keep you here!<br />Innovate or risk failure…it’s that simple.<br />Copy Right: Growth Innovations 2009<br />16<br />16<br />
  17. 17. Your New “Bottom Line”<br /><ul><li>To succeed in the new environment you must be:</li></ul>Aligned intellectually and psychologically with reality<br />Deeply awareof your companies core competencies and capabilities<br />Innovativein opportunity identification<br />Creativein the use of traditional tools and techniques<br />And gaining firm controlof your destiny<br />17<br />17<br />Copy Right: Growth Innovations 2009<br />
  18. 18. This Means You Must….<br /><ul><li>Reconnect with your core business competencies and capabilities
  19. 19. Reconnect with your survival instincts
  20. 20. Re-learn survival skills for today’s economy where; failure is not an option!
  21. 21. Applying the above in an Innovative way</li></ul>Copy Right: Growth Innovations 2009<br />18<br />18<br />18<br />
  22. 22. This Also Means ….<br /><ul><li>Change is certainly Not Stress Free
  23. 23. Innovation and Implementing a new strategy is stressful
  24. 24. But, losing your business is also STRESSFUL
  25. 25. So, there is stress either way you go
  26. 26. Question is…which stress do your prefer???</li></ul>Copy Right: Growth Innovations 2009<br />19<br />19<br />19<br />
  27. 27. The New Reality<br />The U.S. is on the precipice of a new age…<br />Like the last new age at the turn of the last century<br />Immigrants from Europe shed the yoke of their past<br />Purchasing a one way ticket to a new land of opportunity<br />So too we must shed the yoke of the old paradigms and our dependency on them and have the courage, as our ancestors did, <br />To purchase our one-way ticket to a new future…through innovation!<br />Copy Right: Growth Innovations 2009<br />20<br />20<br />
  28. 28. Summary<br />The world has changed<br />The fundamentals of our economy have changed<br />The “old normal” is not returning anytime soon<br />You must accept the changes to match the new reality; whatever it takes<br />You must Innovateyour business to be successful in today’s economy<br />Now is the time to buy that one-way ticket!<br />Copy Right: Growth Innovations 2009<br />21<br />
  29. 29. Copy Right: Growth Innovations 2009<br />22<br />Growth Innovations<br />….Growing Your Future<br />billmcadory@growthinnovationsconsulting.com<br />Phone: 513-703-5355<br />

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