6 tipsunstickbiz 15sept2010_nyc_bizsolutns


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Six "sure fire" strategies to grow your business in times of uncertainty.

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6 tipsunstickbiz 15sept2010_nyc_bizsolutns

  1. 1. Manage Your Business Through Turbulent Times<br />
  2. 2. Our Host:<br />
  3. 3. Thanks to:<br />
  4. 4. Let Me Introduce Myself…<br />What You Should Know About Me<br /> 20 Years In Corporate America<br />Began Career as Recruiter<br />Marketing & Sales Background<br /> Teach Organizations How to<br />SELL Themselves<br /> Transition in 2009 from Career Coach to Business Coach<br />
  5. 5. Tonight’s Agenda<br /> Create a COMPELLING NEW Strategy<br />REALLY Know Your Customers<br /> Your PEOPLE Matter Most<br /> Align Core Business Functions<br />Problem-Solving for a New Millennium<br /> Discover Your True Culture<br />
  6. 6. 1. Create a Compelling NEW Strategy<br />
  7. 7. Create a New Compelling Strategy<br /><ul><li>Revisit Your History - Ready and Willing to Embrace Change.
  8. 8. Stability is no Longer Possible or Desirable.
  9. 9. Your Strategy Was Set When Times Were Different.
  10. 10. Revisit Your Goals.
  11. 11. Identify New Product/Service Offerings.</li></li></ul><li>Create a New Compelling Strategy<br /><ul><li>Rethink Partnerships.
  12. 12. Planning the human dynamic is needed (people, values, cultures.)
  13. 13. Always ask: “What if…?”</li></li></ul><li>Create a New Compelling Strategy<br /><ul><li>Management is detrimental; leadership is critical:</li></li></ul><li>When Is Change Mandatory<br /><ul><li>Examine all the key indicators (revenue, profit, market share, time to close deals, customers leaving)
  14. 14. Is it the bad economy or is your industry transforming?</li></li></ul><li>2. REALLY Know Your Customers<br />
  15. 15. Know Your Customers<br /><ul><li>Take Your Most Profitable Customers to Breakfast.
  16. 16. Learn Their Most Pressing Business Challenges.
  17. 17. Assure Them You Are With Them.
  18. 18. Profile Your Most Profitable Account.
  19. 19. Conduct Client “Ride-Alongs.”</li></li></ul><li>Know Your Customers<br /><ul><li>Long Live the Pareto Principle.
  20. 20. Create a Refer-a-Friend Program.
  21. 21. Conduct a Mystery Shop.</li></li></ul><li>Know Your Customers<br /><ul><li>Vilfredo Pareto: Italian Economist, Sociologist
  22. 22. Mathematical Formula Created In 1906 to Explain Uneven Income Distribution In Switzerland
  23. 23. Today Known as “80/20 Rule”
  24. 24. 1940s: Dr. Joseph Juran proved “In nearly all cases, a few (20 percent) are vital and many (80 percent) are trivial.
  25. 25. Universality: Can be Applied Equally to Any Endeavor (Business, Academia, AND Career Center Goals!)
  26. 26. 20% of Your Clients Create 80% Business
  27. 27. 20% of Your Clients Place 80% of Orders
  28. 28. 20% of Your Clients Purchase 80% of Your Stuff</li></li></ul><li>Know Your Customers<br /><ul><li>Goal: Identify and Study Your Top 20:
  29. 29. Create a Profile To Match Your Top 20
  30. 30. Use the RFVP Profile:
  31. 31. Recency Of Them Doing Business With You
  32. 32. Frequency of Them Doing Business With You
  33. 33. Volume of Business They Do With You
  34. 34. Profit They Contribute (conduct an ROI)</li></li></ul><li>Know Your Customers<br />The Sales Process<br />Apostle<br />Relationship Skills<br />Repeat Customer<br /> Service Skills<br />SaleSolution Selling Skills<br />Prospect Marketing Skills<br />
  35. 35. 3. Your People Are Your Most Valuable Asset<br />
  36. 36. Your People Matter Most<br /><ul><li>Constantly Solicit Ideas From Your Employees (They Are Your Saviors.)
  37. 37. Align All Employee Core Competencies With Job Descriptions.
  38. 38. It’s NOT About Compensation.
  39. 39. Develop a Reward & Recognition.
  40. 40. Mentor and Coach Your People.</li></li></ul><li>Your People Matter Most<br /><ul><li>360 Degree Assessments Are KEY.
  41. 41. Front Line Staff Evaluate Managers
  42. 42. Your Clients Should Review You
  43. 43. Individual, Team, Organizational Goals Are ALL Required.
  44. 44. You Can NEVER Communicate Too Much.
  45. 45. Jack Welsh Was Only ½ Right!
  46. 46. Where’s Your Mission & Vision Statement?</li></li></ul><li>20<br />Your People Matter Most<br />Today, more than ever, companies MUST find new ways to harness the untapped talents and creative energies of their employees, for their business survival!<br />
  47. 47. 21<br />Your People Matter Most<br />Only 21% (1 in 5) of the employees surveyed are “engaged” in their work, and 38% admitted being partly to fully disengaged. <br />Engagement was defined as employees willing to go the extra mile to help their company succeed.<br />Towers Perrin March, 2008 Global Workforce Study. <br />
  48. 48. 22<br />Your People Matter Most<br />“…at a time when companies are looking for every source of potential advantage, the workforce itself represents the largest reservoir of untapped potential.”<br />Julie Gebauer<br />Towers Perrin<br />Managing Director<br />
  49. 49. 23<br />Your People Matter Most<br />88% of U.S. workers consider themselves creative, BUT only 63% said their positions were creative.<br />75% of survey respondents thought their employers valued creativity.<br />One in five said they would change jobs, even if it meant LESS money to be MORE creative.<br />Survey conducted by IPSOS Research in 2007 to 564 adults for the 2007 National Conference on<br />the Creative Economy.<br />
  50. 50. 4. Align CORE Business Functions<br />
  51. 51. Align Core Business Functions<br /><ul><li>Bring Marketing, Sales, Product Management, and Customer Care Together.
  52. 52. Develop Functional Plans Together.
  53. 53. Rotate Staff to Work in Each Other’s Areas.
  54. 54. Teamwork it’s NOW or NEVER!
  55. 55. Allow Managers in Different Departments to Interview Each Other’s Staff.</li></li></ul><li>5. Problem Solving Skills for the New Millennium<br />
  56. 56. Great Problem Solving Skills<br />Look deep (go beneath the surface):<br />Ex. Why do my customers stay with me? Why do they leave?<br />Ex. Why don’t I align my people’s skills to their job responsibilities<br />Sketch to encourage thinking without words.<br />Use intuitive judgment: involves making decisions that defy logical analysis.<br />Learn from experts.<br />Head in the direction of an ideal solution.<br />
  57. 57. Great Problem Solving Skills<br />To develop all the skills of creative problem <br />solving, spend time solving many different <br />kinds of problems.<br /> Appreciation: Start with a simple fact, then keep asking: “So what?”<br />
  58. 58. Use Your Imagination<br />  “Imagination is everything. It is the preview of life's coming attractions. Imagination is more important than knowledge.”<br />Albert EinsteinEinstein also said: “The true sign of intelligence is not knowledge, but imagination.”<br />Are you exercising your “imagination muscles” daily, don’t let something as powerful as your imagination lie dormant.<br />
  59. 59. 6. Discover Your Business’ True Culture<br />
  60. 60. Discover Your True Culture<br /><ul><li>Recall Your Mission & Vision Statements.
  61. 61. What Is Your Brand.
  62. 62. Consistency in Experience With Your People.
  63. 63. Define Your Company’s Desired Attributes.
  64. 64. Marketing 5Ps.</li></li></ul><li>Discover Your True Culture<br /><ul><li>UNIQUE: It clearly sets you apart from your competition, positioning you as the logical choice.
  65. 65. SELLING: It persuades another to exchange money for your products / services.
  66. 66. PROPOSITION: It is the proposal or offer you make, for your client’s acceptance. </li></li></ul><li>In Closing…<br /> Consider a NEW Strategy<br /> Get to REALLY Know Your Customers<br /> Your People Matter MOST<br /> Align Core Business Functions<br />Problem-Solving for a New Millennium<br /> Discover Your TRUE Culture<br />
  67. 67. The Brand Called YOU<br />One Last Thing…<br />