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Aargh! We keep missing our targets!
| Date post: | 26-Jan-2017 |
| Category: |
Business |
| Upload: | charles-kingsmill |
| View: | 148 times |
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Aargh!Wekeepmissingourtargets!
Thisisabriefpresenta6onabouthowtocreatearecipeforthesuccessofyourbusiness.
Hint:it’snotbycrea6ngtargets.
Mostpeopleinbusinessthinkthatse$ngtargetsleadstobe.erresults.
Thetruth?Targetsareadangerousdistrac3on.
Youspreadyour
remainingresourcestoo
thinly
Youstruggletohitsalestargets
Youcutcoststoprotect
profittargets
Example1:Yougetcaughtinthecost-cuHngtrap
Everyoneworkslongerhourswithlessthinking
6me
Theymakemistakes
Youseeproduc6vity
fall
Youaddmoregoalsandcut
heads
Example2:Yougettoldto“domorewithless”
Youinnovate
Youdivertresourcestonewventures(whicharelessprofitable)
Yourprofitsfall,soyoucutmarke6ngbudgets
Yourcorebusinessstagnates
Example3:Aggressivegrowthtargetsmeanthatyouhavetoinnovate
Youchangemarke6ngmessages
Youweakenthe
brand
Youconfuse
customers/clients
Youseeresultsfalter
Example4:Targetsstartdicta6ngstrategy
“Butwes6llhavetohitourtargets…”
Sicktargetculture Healthytargetculture
• Cutcosts
• Domorewithless
• Demandmoregrowth
• Lettargetsdictatestrategy
• Createarecipeforsuccess,andtargetTHAT.
• Checkthatgrowthandprofitfollow.
Needed:ahealthierwaytosettargets
“Createarecipeforsuccess,andtargetTHAT.”
Whatdoesa‘recipeforsuccess’looklike?
Yourrecipeforbusinesssuccessincludesingredientslike:Yourexper3se–whatdoesyourorganisa6ondowell?Yourbrand–howdoyourclientsorcustomersexperiencewhatyouoffer?Asustainablefinancialmodel–howdoyoucreateprofit,repeatedly?(Avoidgenerali6eslike“goodpeople”)
?
Exper6se
FinancialmodelBrand
So,wheredoesyourbusinessworkwell?Now,andinthepast?
Whichingredientsare‘eternal’andwhichneedupda6ng?
?
Exper6se
FinancialmodelBrand
Andwhat’syourCAUSEasabusiness?Thiscouldbeyoursecretingredientformo6va6ngallstakeholders.
“Thisiswhatwecare
about.Thisiswhatwebringtotheworld.”
Cause
Exper6se
FinancialmodelBrand
Ifthoseareyourkeyingredients,howdoyoucombinethemforsuccess?Whatgoodbusinessprac6cesdo
youfollow?
Here’sanexampleofgoodwaystocombineingredients:
Cause
Exper6se
Financial
modelBrand
Dofewerthingsbe]er
Focusongrowingtheprofitablecore
Behighlyselec6veaboutinnova6on
Increasevaluetothecustomerover6me
Buildexper6setobecomeworld-class
Together,thisisyourrecipeforsucceedingasabusiness.
IngredientsHowtocombinethem
Cause
Exper6se
Financial
modelBrand
Dofewerthingsbe]er
Focusongrowingtheprofitablecore
Behighlyselec6veaboutinnova6on
Increasevaluetothecustomerover6me
Buildrelevantexper6setobecomeworld-class
RatherthanseHngtargetsinthetradi6onalway,findwaystomeasurehowwellyou’refollowingyourrecipe.
Withagoodrecipe,growthandprofitwillfollow.
Doyousensethattargetsaren’tworkinginyourbusiness?Wantarecipeforahealthybusinessinstead?
Contactme:[email protected]
