Accelerating Business Growth7th July 2011
Presented by
Bear Space LLP& Business CoPilot
P.I.L.O.T. P = Present location I = Instruments L = Landing destination O = Obstacles T = Tasks
Our Business Model
“Do you know yourcurrent position?”
Well known business adage states that:
“ You can’t improve what you can’t measure”
So the question is:
YOUR VISION
COMPONENTS OF A VISION
The Importance of a Vision
• Stakeholders – you need support
• Statement of Intent - positive mental attitude
• Tangibility – the power of visualisation
Example of Vision Statements1. “It might make us sound a bit like
a Miss World contestant, but we want to leave things a little bit better than we find them. We strive to do business in a more enlightened way, where we take responsibility for the impact of our business on society and the environment, and move these impacts from negative to neutral, or better still, positive. It’s part of our quest to become a truly sustainable business, where we have a net positive effect on the wonderful world around us. “
2. “The aim of XXXX is to develop concepts of value to help unify the sector and catalyse a new consensus between the manufacturer, regulator and user communities.”
3. “To become the most competitive enterprise in the world by being number one or number two in every business in which we compete.”
YOUR CREW
Objectives
• Understand DISC
• Know how to use it
What motivates you?
Covey’s 8 Habits
Sharpen the saw
Know your voice
Perspective
“We don’t see things as they areWe see them as we are.”
Which Blue Dot is the Larger?
What is DISC?
William Moulton Marston, 1928
What is Personality?
A set of qualities that make a person distinct from another
What is DISC?
What is DISC?
DISC Methodology shows:
– How a person solves problems and responds to challenges
– How a person attempts to influence or persuade others
– The pace at which a person responds to change– How a person responds to rules and regulations
Dominance – 23%
• Descriptive adjectives– Driving– Competitive– Forceful– Direct– Self starter– Assertive
• Motivated by - Power and Authority• Basic fear - Failure• Communication style - Telling
Influence – 27%
• Descriptive adjectives– Influential– Persuasive– Friendly– Verbal– Communicative– Positive
• Motivated by - Public praise and recognition• Basic fear - Rejection• Communication style - Motivating
Steadiness – 42%
• Descriptive adjectives– Dependable– Deliberate– Amiable– Persistent– Good listener– Kind
• Motivated by - Security• Basic fear - Insecurity• Communication style - Organising
Compliance – 8%
• Descriptive adjectives– Compliant– Careful– Systematic, logical– Precise– Accurate– Perfectionist
• Motivated by - Procedures• Basic fear - Conflict• Communication style - Writing
Why does it matter?
The Personal Profile Analysis is designed to identify unique behavioural
characteristics in the workplace
Benefits:– Motivation– Improve team dynamics– Improves communication– Improving job “fit” and career guidance
What motivates you?
Covey’s 8 Habits
Sharpen the saw
Know your voice
Turning DISC into reality means:
• Knowing yourself• Observing• Predicting• Modifying• Relating
• Not right or wrong but DIFFERENT
What next?
VIP
• Vision – without it we perish
• Individuals – see it their way
• Policy – ensure that they allow the two above to happen
YOUR INSTRUMENTS
EVERY MARKET EVOLVES
•What business are you in?
•What business will you be in?
Metrics•Measure what is important to your
customers
•Measure where profit comes from
Profit
•Every Business Plan shows a profit
•Not every P&L does
Operations
•Fat numbers
•Forecast
YOUR PASSENGERS
Your Marketing / Sales Funnel
AWARENESS
TRIAL
INTEREST
TRANSACTION
RELATIONSHIP
REFERRAL
Knowing Your NumbersSTAGE NUMBER % Conversion
Awareness 1000 20%
Interest 200 50%
Trial 100 40%
Transaction 40 50%
Relationship 20 50%
Referral 10
VALUE of CUSTOMER TOTAL £ p.a.
If a Single Transaction = £500 pa £500 x 40 £20,000
If a Relationship = £2000 pa £2000 x 20 £40,000
A referral would be worth £1500 pa £1500 x 10 £15,000
TOTAL = £75,000
What if you improved by 5%STAGE NUMBER % CONVERSION
Awareness 1000 25%
Interest 250 55%
Trial 138 45%
Transaction 62 55%
Relationship 34 55%
Referral 18
VALUE of CUSTOMER TOTAL £ p.a.
If a Single Purchase = £500 pa £500 x 62 £31,000
If a Commitment = £2000 pa £2000 x 34 £78,000
A referral would be worth £1500 pa £1500 x 18 £27,000
TOTAL = £136,000
OVER 80% INCREASE IN INCOME FROM A 5% IMPROVEMENT AT EACH LEVEL
YOUR REPUTATION
“Character is like a tree and
reputation like a shadow.
The shadow is what we think of it;
the tree is the real thing.”
Abraham Lincoln
Reputation
“It takes 20 years to build a reputation and five minutes to ruin it.”
Warren Buffet
Toyota accelerates
Where did Toyota go wrong?
• Credibility
• Culture
• Agility
Where did the MP’s go wrong?
• Credibility
• Culture
• Agility
TylenolProblem• 1982 – 7 people die after ingesting Tylenol contaminated with cyanide
Action• 1 week - 31 million bottles of tablets and others pulled• Tamper-proof packs replaced within 10 weeks.
Costs• The crisis cost more than $100 million.
Effects• Tylenol regained 100% of the market share. • Tylenol controls about 35% of the pain relief market in North America
Reputation
“It takes 20 years to build a reputation and five minutes to ruin it.
If you think about that, you'll do things differently.”
Warren Buffet
NEWCO
• Vision – to be the supplier of choice for commercial CCTV in Reading area
• Average installation - £2000, 5 years £4000• Batch of Korean cameras develop fault• Warranty has expired!• £200 each to buy, 3 weeks delivery to replace• What would you do?
5 Simple QuestionsPresent Location – Where are you?
Instruments – What information are your measuring ?
Landing Site – Where are you trying to get to?
Obstacles – What is preventing you from achieving your goals?
Tasks – So how do you move forward from here?
The next step……• Complete our In Flight Check• Book a DISC profile• Request a 1 to 1 meeting• Visit our website www.businesscopilot.co.uk
About UsBear Space LLP
• Liam Wall• Samantha Gore• 0207 735 6623• [email protected]• www.bsllp.co.uk
Business CoPilot
• Rob Hook• Nick Cramp• 0117 230 3166• [email protected]• [email protected]• www.businesscopilot.co.uk