aargh! we keep missing our targets!

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

Theseareallviciouscircles,causedbybadtargets.

Whatyouwantinsteadisarecipeforavirtuouscircle

Profit

Reinvest

Grow

“Butwes6llhavetohitourtargets…”

Sicktargetculture Healthytargetculture

•  Cutcosts

•  Domorewithless

•  Demandmoregrowth

•  Lettargetsdictatestrategy

•  Createarecipeforsuccess,andtargetTHAT.

•  Checkthatgrowthandprofitfollow.

Needed:ahealthierwaytosettargets

“Createarecipeforsuccess,andtargetTHAT.”

Whatdoesa‘recipeforsuccess’looklike?

Arecipeis-asetofingredients-ameansofcombiningthem

(Youneedarecipeforsuccessanyway,evenifyouhaven’twri]enitdownyet.)

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.

Goodbye,unhealthytargets…

Doyousensethattargetsaren’tworkinginyourbusiness?Wantarecipeforahealthybusinessinstead?

Contactme:charles@charleskingsmill.com