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Phil Newman
Phil Newman, CEO of CRU Strategies, gave a presentation on turning research into a profitable business model. He discussed how CRU conducts industrial research and seeks high-paying subscriptions. Newman explained that CRU Strategies is the consulting division that applies creative thinking to deliver practical solutions for clients. He outlined challenges in getting engineers and academics to think commercially and provided examples of successful consulting projects that added immense value. Newman concluded by discussing the attributes CRU looks for in employees, including curiosity and a willingness to challenge assumptions.
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Phil Newman
- 1. H2Oil Research SeminarsSummer 2012 Adding value through mining and minerals research – while still turning a profit… Phil Newman, CEO CRU Strategies May 30th 2012 31 Mount Pleasant, London Augusto Leguía Norte Nº 100 of.506, WC1X 0AD UK Las Condes, Santiago, Chile Tel: +44 20 7903 2000 Tel: +56 2 231 3900 Fax: +56 2 231 4314 Fax: +44 20 7278 0003 PO Box 1269, Langley, WA 98260 USA 517, Tower 2, Bright China Tel: +1 360 321 4707 Fax: +1 360 3214709 Chan An Building, 2911 West 54th Street, 7 Jianguomennei Avenue Minneapolis, MN 55410, USA Beijing 100005, China Tel: +1 612 922 9092 Fax: +1 612 920 3225 Tel: +86 10 6510 2206 CRU STRATEGIES A division of CRU International Ltd Fax: +86 10 6510 2207 Level 2, Kalpataru Synergy, Opp. Grand Hyatt, Santa Cruz (East), Mumbai 400055, India Tel: +91 22 3953 7395 Fax: +91 22 3953 7200
- 2. Goals and objectives..... •Errrr? • Lesson #1: don’t enter any research without knowing these... • So – what are the audience’s expectations here? • Is there an alternative title here? 2 CRU Strategies
- 3. Working in aniche consultancy (what’s it like, is it for me?) CRU STRATEGIES A division of CRU International Ltd
- 4. Presentation objectives • Howdo we get commercial regarding research? • Developing a business model for you • How do we teach engineers/economists/academics to learn ‘business 101’? 4 CRU Strategies
- 5. Engineers and Managers– different breeds? versus 5 CRU Strategies
- 6. ......and then addthe vagaries of metallurgy!!! 6 CRU Strategies
- 7. Back to theobjectives – getting COMMERCIAL about research... • What is it we are doing when we conduct research, how do we define research? • This is important if we are proposing to try and make a business... • What is CRU’s business model? (and we’re not unique!) 7 CRU Strategies
- 8. The business model... •CRU (Commodities RESEARCH Unit) does industrial research and seeks high value subscriptions... • There are others in the same space... • Can you think of other examples? 8 CRU Strategies
- 9. CRU Strategies: whatexactly do we do? THE CRU GROUP CRU Analysis CRU Events CRU Strategies • CRU Strategies is the consulting division of the CRU Group 9 CRU Strategies
- 10. Consulting vs Research..... •What is the difference? • McKinsey • Opinion 10 CRU Strategies
- 11. Making space forcreativity in (market) research reports No structure – what is fact and what is opinion? Practical application lacking Tells a story Includes some opinion at the boundaries of the facts Uninspiring Facts presented in equal weight Good bedtime reading • You have to be cognisant of the client... • ...and the report’s purpose 11 CRU Strategies
- 12. 4 x 4matrix..... (a personal view) Accounting Practical application of PROCESS Painter / decorator creative thinking to Alan Hanson deliver value Accounting for the mafia Salvador Dali Lionel Messi CREATIVITY 12 CRU Strategies
- 13. It’s easier saidthan done – some cock ups.... • Pump company part I • Indian steel company 13 CRU Strategies
- 14. When it goesright – you can deliver immense value to the client..... • Pump company part 2, 3, 4, and 5!!!! • Project Shakira – agricultural demand • Diversification strategy (not forgetting that do nothing is a valid option) • Sulphur burner.... 14 CRU Strategies
- 15. Analysts Consultants.... (making the switch) ‘research for profit’ / consultancy – what do people struggle with? • FIT FOR PURPOSE • ASSUMPTIONS • OPINION • In market research – we spend time thinking about the bigger picture and put ourselves in the shoes of our clients? • If I was a European aluminium producer; would I be worried about the shale gas issue in the US? • What are mid-tier copper producers more concerned about: being taken over or rising costs and the weak $? 15 CRU Strategies
- 16. Selling your services:Business 101..... • Would Sheldon be your business development manager? • But Sheldon can add tremendous value – if you can manage him... 16 CRU Strategies
- 17. Returning to theearthquake • There is no point converting your engineers to salesmen since, frankly, it cannot be done... • But, and this is important, some understanding of commercial reality needs to be continually injected into the culture of the group... • Thinking about the needs of the market can bring the creative and the process together internally – and provide the seeds for external conversations and from these seeds, challenging and profitable projects can emerge.... 17 CRU Strategies
- 18. And finally, whatdoes CRU Strategies look for? • Curiosity,,,, • What do we look for in our employees... – GSOH – Smart (and I don’t mean ‘looks good in a suit’) – Prepared to challenge – Organised and creative (almost the definition of an oxymoron!!) 18 CRU Strategies
- 19. Thank-you for yourattention; your homework: Is consultancy research? Phil Newman, CEO CRU Strategies phil.newman@crugroup.com www.pitchingforbusiness.com 31 Mount Pleasant, London Augusto Leguía Norte Nº 100 of.506, WC1X 0AD UK Las Condes, Santiago, Chile Tel: +44 20 7903 2000 Tel: +56 2 231 3900 Fax: +56 2 231 4314 Fax: +44 20 7278 0003 PO Box 1269, Langley, WA 98260 USA 517, Tower 2, Bright China Tel: +1 360 321 4707 Fax: +1 360 3214709 Chan An Building, 2911 West 54th Street, 7 Jianguomennei Avenue Minneapolis, MN 55410, USA Beijing 100005, China Tel: +1 612 922 9092 Fax: +1 612 920 3225 Tel: +86 10 6510 2206 CRU STRATEGIES A division of CRU International Ltd Fax: +86 10 6510 2207 Level 2, Kalpataru Synergy, Opp. Grand Hyatt, Santa Cruz (East), Mumbai 400055, India Tel: +91 22 3953 7395 Fax: +91 22 3953 7200