FSI Success in the NEW Normal 01.27.14

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Opening keynote - Financial Services Industry - January 27, 2014 - Washington, D.C.

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FSI Success in the NEW Normal 01.27.14

  1. 1. Success in the NEW Normal?
  2. 2. Kuala Lumpur Oct 6th 2011
  3. 3. For those For those who are who are prepared… prepared… …chaos brings opportunity
  4. 4. Anyone who tells you they enjoy change… should seek immediate professional help.
  5. 5. • The willingness… even enthusiasm… to change EVERYTHING combined with the wisdom to understand what must NEVER be changed.
  6. 6. The Key To Success in the New Normal… •Nimbleocity •Nim-bo-licous
  7. 7. (T + C + ECF) x DE = Success
  8. 8. Talent
  9. 9. The number one factor in increasing the level of highly satisfied and engaged CLIENTS in your business is… The level of highly satisfied and engaged EMPLOYEES in your business.
  10. 10. The key elements of a winning culture Fun Results Family Meaning Friends Positive Culture Praise Fair Pride Freedom
  11. 11. Brand New from HBR • Individual differences are nurtured. • Information is not suppressed or spun. • The company adds value to employees rather than merely extracting it from them. • The organization stands for something meaningful. • The work itself is intrinsically rewarding. • There are no stupid rules.
  12. 12. 1,300,000 interviews: Basic 4 + 1
  13. 13. Accountability 1. 100% Clarity + Authority 2. 100% Agreement 3. Track & Post 4. Coach, mentor & train 5. Reward / Punishment
  14. 14. Extreme Customer Focus
  15. 15. Web of Value: VOC + MOT + WOM
  16. 16. Extreme Customer Focus VOC
  17. 17. Moments Of Truth
  18. 18. WOM = Your BEST form of advertising! 78.9% 23.4%
  19. 19. 43% - 74% of purchasing decision = WOM/T
  20. 20. You MUST have a WOM Referral System Identify Ideal Client Know Like Trust Try Buy Repeat Refer Ideal Client From John Jantsch: The Referral Engine
  21. 21. The Evergreen Project 10 year study of 160 top companies 40 distinct industries 200 management practices Winners, climbers, tumblers, losers Winners had an average TRS of 945%... The Losers only averaged a TRS of 62% From: What (really) Works by Joyce, Nohria, Roberson
  22. 22. The Four Primary Practices: 1. A sharply focused, clearly communicated and wellunderstood strategy for growth. 2. Flawless operational execution that consistently delivers the value proposition. 3. A performance-oriented culture that does not tolerate mediocrity. 4. A fast, flexible, flat organization that reduces bureaucracy and simplifies work.
  23. 23. The Secondary Management Practices: • Talent = find and keep the best people. • Key leaders show commitment and enthusiasm for the business. • Embrace strategic innovation. • Master the power of partnerships. From: What (really) Works by Joyce, Nohria, Roberson Workshop 11
  24. 24. The keys to a world-class career… K nowledge N etwork L OVE
  25. 25. THANK YOU If you have any questions at all please do not hesitate to send a note or call. My email address is: john@johnspence.com PLEASE connect with me on LinkedIn 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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