The Formulas for Success TZ


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The Formulas for Success TZ

  1. 1. The Formulas for Successin Life and Business<br />
  2. 2. What does this mean to me?<br />How can I use this idea?<br />What can I do right away?<br />
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  5. 5. For those who are prepared…<br />For those who are prepared…<br />…chaos brings opportunity <br />
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  7. 7. The willingness… even enthusiasm… to change EVERYTHING combined with the wisdom to understand what must NEVER be changed.<br />
  8. 8. The Key To Success in the New Normal…<br />Nimbleosity<br />Nim-bo-lishis<br />
  9. 9. Focus on the Fundamentals<br />
  10. 10. FDA<br />F+P<br />CPV<br />KNL<br />C-NC<br />IM<br />
  11. 11. FDA<br />
  12. 12. Workshop<br />
  13. 13. Information<br />Assumptions<br />Reactions<br />Mental Maps<br />Actions<br />
  14. 14. “You become what you FOCUSon and similar to the PEOPLE you surround yourself with.”<br />WS: 5F +5P + U<br />
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  16. 16. L<br />K<br />N<br />
  17. 17. C - NC<br />
  18. 18. Ideal ME<br />
  19. 19. Focus on the Fundamentals of Business Success<br />
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  21. 21.
  22. 22. (T + C + ECF) x DE = Success<br />
  23. 23. Ignorance<br />Inflexibility<br />Indifference<br />Inconsistency<br />
  24. 24. Aggressive external market focus.<br />Ridiculously high level of customer focus.<br />Keep the “Main Things” the main things.<br />Bullish on knowledge sharing and learning.<br />Teamwork / communication is mandatory – not optional.<br />Passion and commitment at all levels.<br />Foster a healthy paranoia.<br />Revel in change.<br />1 - 10<br />3<br />
  25. 25. Honest<br />Forward-looking<br />Competent<br />Inspiring<br />Credibility<br />NITB<br />
  26. 26. Focus me<br />Know me<br />Care about me<br />Hear me<br />Help me feel proud<br />Equip me<br />Help me see my value<br />Help me grow<br />Help me see my importance<br />
  27. 27. Fun<br />Family<br />Friends<br />Fair<br />Freedom<br />Pride<br />Praise<br />Meaning<br />Accomplishment<br />1 - 10<br />7<br />
  28. 28. Caring, competent, and engaging leaders.<br /> Effective managers who keep employees aligned, informed and engaged.<br />Effective teamwork at ALL levels.<br />Job enrichment and professional growth.<br />Valuing employee contributions.<br />Genuine concern for employee well being.<br />1 - 10<br />7<br />
  29. 29. 1 - 10<br />8<br />From: The Orange Revolution by Gostick and Elton<br />
  30. 30. Extreme Customer Focus<br />
  31. 31. Zappos 98 = 0 08 = 1.2 Billion<br /> Looking back, a big reason we hit our goal early was that we decided to invest our time, money and resources into three key areas: customer service (which would build our brand and drive word-of-mouth), culture(which would lead to the formation of our core values), and employee training and development (which would eventually lead to the creation of our Pipeline Team). <br /> Even today, our core belief is that our Brand, our Cultureand our Pipelineare the only competitive advantages we will have in the long run. Everything else can and will be copied.<br />
  32. 32. How do the Best Companies Deliver Superior Customer Service?<br />From a study of more than 3,000 companies — narrowed down to the top 101 companies that profit from customer care — here are the Top Six Factors that were the fundament tactics used to build and manage extraordinary levels of customer satisfaction and loyalty.<br />1 -10<br />
  33. 33. 1. Extreme Customer Focus<br />They listen to, understand, and respond (often in unique and creative ways) to the evolving needs and constantly shifting expectations of their customers. Own the VOC<br />
  34. 34. 2. Shared Customer Service Credo<br />They establish a clear vision of what superior service is, communicate that vision to employees at all levels, and ensure that service quality is personally and positively important to everyone in the organization..<br />
  35. 35. 3. Process = Repeatable success<br />They create systems, processes and protocols to ensure that service delivery is flawless… without stifling the creativity and initiative of their employees.<br />
  36. 36. 4. Clear Standards + Accountability<br />They establish concrete standards of service quality and regularly measure themselves against those standards, guarding against the “acceptable error” mindset by establishing as their goal 100% customer satisfaction performance.<br />
  37. 37. Measure & Post<br />Customer Retention <br />Talent <br />Customer Service <br />MPSMargin Per Sale<br />
  38. 38. 5. Customer Focused Employees<br />They hire the best people, train them carefully and extensively so they have the knowledge and skills to achieve the service standards, then empower them to work on behalf of the customers, whether inside or outside the organization.<br />
  39. 39. 6. Reward and Celebrate Success<br />They recognize and reward service accomplishments, sometimes individually, sometimes as a group effort, in particular celebrating the success of employees who go “one step beyond” for their customers.<br />Deal decisively with mediocrity<br />
  40. 40. VOC + MOT + WOM<br />
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  42. 42. The highest quality…<br />At the lowest possible price…<br />Immediately --- or sooner…<br />All while giving consistently superior customer service for an outstanding “Total Buying and Owning Experience.”<br />
  43. 43.
  44. 44. MOT Practice Round<br />Dry Cleaner<br />Hair Salon<br />Tailor<br />Plumber<br />
  45. 45. Workshop: VOC + MOT<br />9<br />
  46. 46. 43<br />78<br />43<br />78<br />78<br />78<br />43<br />43<br />
  47. 47. WOM = Your BEST form of advertising! <br />78.9%<br />23.4%<br />
  48. 48.
  49. 49. Identify <br />Ideal <br />Customer<br />Refer<br />Ideal <br />Customer<br />
  50. 50. Workshop: Five ways to generate WOM<br />
  51. 51. 10 year study of 160 top companies<br />40 distinct industries<br />200 management practices<br />Winners, climbers, tumblers, losers<br />Winners had an average Total Return to Shareholders of 945%... The Losers only averaged a TRS of 62%<br />11<br />From: What (really) Works by Joyce, Nohria, Roberson<br />
  52. 52. The Four Primary Practices:<br />A sharply focused, clearly communicated and well-understood strategy for growth.<br />Flawless operational execution that consistently delivers the value proposition.<br />A performance-oriented culture that does not tolerate mediocrity.<br />A fast, flexible, flat organization that reduces bureaucracy and simplifies work.<br />11<br />From: What (really) Works by Joyce, Nohria, Roberson<br />
  53. 53. The Secondary Management Practices:<br />Talent = find and keep the best people.<br />Key leaders show commitment and enthusiasm for the business.<br />Embrace strategic innovation.<br />Master the power of partnerships.<br />From: What (really) Works by Joyce, Nohria, Roberson<br />
  54. 54. 10 – 15 %<br />
  55. 55. What Inhibits Execution?National Survey of 4,000 Senior Executives<br />4. Inability to work together (21%)<br />3. Company culture (23%)<br />2. Economic climate (29%)<br />1. Holding onto the past / unwillingness to CHANGE (35%)<br />
  56. 56. In other words…<br />In order to succeed you need a high-performance team that embraces a strong culture of disciplined execution and accountability while being nimble, agile and adaptable to changes in the marketplace.<br />
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  58. 58. Build a network of great relationships with people who want to see you succeed.<br />You don’t have all of the answers, so ask for help and advice from the smartest people you can find.<br />Learn to be a learner.<br />Listen intently to your employees and to your customers.<br />Anne MulcahyCEO of Xerox and the third most powerful woman in the world!<br />
  59. 59. Thank You<br />If you have any questions at all please do not hesitate to send a note or call. <br />My email address is: <br />My twitter address is: @awesomelysimple<br />Please feel free to “friend” me on FB<br />Also, you might find value in the ideas I share in my blog. You can sign up for it at:<br /><br />Lastly, these slides have already been uploaded to:<br /> <br />