Luis, People say how much they will pay for a flight, car, hotel, and priceline.com finds it for them.
The point is that these companies did not just grow their business 10%, 20%, or even 100%, but by the thousands. They show us that it is possible to be a high growth company that has exponential growth beyond what we can typically imagine.
“I want to change theworld with the personal computer.” Steve Jobs
Ceo as steward is someone who is just watching over the business as it is today. CEO as entrepreneur is creating new businesses. They are creating the business vs running the business.
Rather than going to the video store and paying $3 for a video and then late fees when you forget to return it, you pay $7 a month to watch on your computer as many movies as you want.
Innovation is not just for the small companies, but large as well. It is not always coming up with something completely new, but leveraging what you are already good at.
The customer is not interested in your product. They have a job that they want to get done. Ask yourself: What is the job your customer wants to get done? Then look at the product or service you can develop that will you help them to do it.
This is a picture of IDEO who observed the shopping chart that people where using. They looked at what where the frustrations, the unarticulated needs, and unmet wants of the customer. They then brainstormed alternatives and made a quick prototype of a new shopping cart that help customers in the places where they were frustrated. They then let the customer use the cart, go feedback, and iterated.
Millions of companies are making working off of the success of Apple by creating aps that people can use on their iPhones, iTouch, iPads.Bill Gates is another example. When he started out, he found IBM and road on their success in making computers available to all by providing them the operating systems and software to be used on all of their computers when they were shipped.
The main point on this slide is to build a personal brand with social media to grow your business1. Content Every business is a content business. Use blogs with “key words” to position yourself as an expert and increase search engines finding you 2. Community Use a social media strategy: Facebook, Twitter, YouTube & UStream3. CommerceUse innovative e-commerce tools, eBay auctions, Gilt.com’s “deal a day”
Herb Kelleher designed Southwest Airlines by focusing on operational excellence, not only did they make customer’s happy, but they kept costs low, minimized debt, and had cash on hand
I am a Fortune 500 CEO under pressure from Wall Street to grow my business <br />and grow it faster,<br />but this involves <br />taking innovative action unacceptable to stakeholders.<br />Is there any way out of this dilemma?<br />
I’ve got a small (medium) size business that’s been around for a decade and it is still small. It’s not growing. I wake up every day staring at a wall… How do I breakthrough it?<br />
We’re a start up. We are cashing on our passionbut . . . How do we design a business that is born to grow from the start?<br />
I’ve put years into my business.. . .blood, sweat, and tears. Now it’s time for my business to give something back to me.Now what?<br />
We studied the Top 100 Companies on the NYSE for answers<br />
What do all these companies <br />have in common?<br />
How do some companies go from zero to a $billion in no time?<br />What is the DNA of these companies?<br />
Is there a blueprint to a $billion?<br />Specific action strategies anyone <br />can follow?<br />
Applereturned a staggering 4,206%<br />A decade ago no one had even heard of an iPod <br />
11<br />The next high performing companies…<br />FLIR Systems up 3,789% <br />Urban Outfitters up 3,599% <br />Cliffs Natural Resources up 2,671% <br />Southwestern Energy up 2,601% <br />Cognizant Technology up 2,285% <br />CarMax up 1,663% <br />Intuitive Surgical up 1,407%<br />
TheCommonFactors<br />They had a vision of an Impossible Future and they realized it with a game changer<br />
The Blueprint Companies were also all strong on the Fundamentals<br />Exceptional people<br />Game changing strategy<br />Superior execution<br />Cash flow positive<br />
We also discovered the <br />10 Multipliers of<br />Exponential <br />Business <br />Growth<br />The Blueprint to a $Billion<br />
1. Unleash The Entrepreneur Within<br />From the CEO as Steward to the CEO as Entrepreneur<br />Create your business vs. <br />run your business<br />Jobs created entirely new businesses <br /><ul><li>PC
iPad</li></li></ul><li>2. Change the Game With Disruptive Innovation<br />Start with focusing on the customer’s frustration<br />with your industry, company, offerings <br />Streaming video vs. Video stores<br />
Innovation starts with leveraging what you have always done well in a new context<br />Synchronize the world<br />
3. Target a High Growth Market Segment<br />Moving from high-end to low-end <br />David beats Goliath<br />
4. Come up with a breakthrough value proposition<br />Focus on the jobs that people want done<br />
5. Design thinking and rapid prototypes<br />Find out what customers will buy<br />Observe customers and seeunarticulated needs and unmet wants<br />Create a quick prototypeand get into customer’s hands<br />Get feedback and iteration<br />
The customer doesn’t want to buy a drill, they want a ¼ inch hole<br />
6. Break into New Markets with “Godfather” Partnerships, Marquee <br />Customers<br />What goals do you want to reach faster and what are the partnerships you can create to reach them the fastest?<br />
7. Make Your Marketing Revolutionary and Irreverent<br />Tommy Hilfiger<br />Tommy Hilfiger<br />Zero to a Billion<br />“Start with a big idea that is revolutionary and irreverent, add the element of surprise, then arresting verbal and graphic imagery.” -George Lois<br />
8. Grow Your Business on the Web<br />Build a personal brand through social media that <br />helps sell your product or service<br />Gary Vaynerchuk: <br />Crush It<br />The Three C’s<br /><ul><li>Content</li></ul>Blog to be seen as an expert<br /><ul><li>Community</li></ul>Have a social media strategy<br /><ul><li>Commerce</li></ul>Use innovative e-commerce tools<br />
Get Your Customers to Sell For You<br />“Customers don’t want to talk to a vendor,<br /> they want to talk to each other. Deliver great<br /> customer experience, and create a forum for<br /> people to talk you and each other.”<br /> –Mark Beniot, CEO, Salesforce.com<br />
9. Drive Growth Through Operational Excellence<br />Southwest Airline is the world’s<br /> most profitable airline<br />Herb Keller drove growth through operational excellence:<br /><ul><li>One kind of plane
Both sides of photocopier paper</li></ul>Get cash flow positive, minimize debt, <br />be frugal, have fun <br />
10. Be a Multiplier v. Diminisher<br />Win over the spirits of employees and customers<br />My role as CEO is about unleashing what people already have inside them that is maybe suppressed in most work environments.<br />
Okay….but what does this all mean to me?<br />
Creating A High Growth Gazelle –The Master Coaching Process<br />Take your business to a different place in a 100 days<br />Interview Day. We learn about your goals, problems, and then discuss the high growth leader’s DNA code<br />Team Day. The Four Fundamentals:<br />1) People, 2) Strategy, 3)Execution, 4) Cash<br />Blueprint Day. Learn and start to apply the 10 multipliers of high growth companies<br />Coaching Process. Take the 100 day challenge!<br />Talk to CEO weekly, meet with team monthly<br />