growth - how to create and manage it in your business
TRANSCRIPT
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GROWTH How to create and manage it in your business
Russell Cummings Strategic Business Development April 2015
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OUTLINE
Why Growth?
Tools for Finding Opportunities
Tools for Managing Growth
Change Success
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WHY GROWTH?
• Many businesses have
ambitious growth plans
• “If you’re not growing,
you’re standing still...”
• Why? Profits, Brand, Scale,
Ego...
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FINDING GROWTH
OPPORTUNITIES
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GROWTH MATRIX
Market
Penetration
Market
Expansion
Product
Expansion Diversification
MARKETS Existing New
Existing
New
PR
OD
UC
TS
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GROWTH MATRIX
Market
Penetration
Market
Expansion
Product
Expansion Diversification
MARKETS Existing New
Existing
New
PR
OD
UC
TS
1
3
2
4
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ERRC GRID
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ERRC GRID
By:
• Eliminating
• Reducing
• Raising
• Creating
• How can we transform our products and services?
• How can you modify the Value Proposition?
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MANAGING GROWTH Harder than you think
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CASH FLOW
• Must understand the cash implications of growth
• Monitor it closely – forecasts and projections
• Cash Drivers: Sales, Direct Costs, Overheads, Debtors, Creditors, Inventory
• Set up simple dashboards and monitor this closely
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CAPACITY • Can we deliver what we’ve
promised?
• Forecast – Scenario Plan
• Look at capacity constraints: inputs, transport, delivery timeframes, outputs, people, lead times, cash.
• Updates
• Sales Pipeline – update and monitor
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PERFORMANCE 1. Clear Objectives
2. Set the Key Performance Measures for each Objective
3. Set the targets
4. Drill down to Business Units and Teams
Example: 1. Objective: Increase Product X sales into China by
20% by December 2015
2. Measures & Targets: a) China Sales growth - $, units and % (rolling targets)
b) China Sales Margins %
c) China Forward Orders
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CHANGE SUCCESS How to boost your probability of success from 30% to
much higher
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Only 30% of change projects
succeed
Imagine the savings in time,
profit, growth, energy, success if
you could boost that figure to
70%?
PROJECT SUCCESS
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100’s of factors that impact on
change success but which ones
have the MOST impact
Great Businesses achieved 16%
higher in change success
compared to Good Businesses
All factors are related /
connected. Change success is
about many adjustments in
many areas
NEW CHANGE SUCCESS MODEL
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SUMMARY In Conclusion
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NEXT SESSION
Our next webinar is at 5:30pm (Sydney time) on Wednesday, 6 May 2015
and will cover “Horticulture 2020 Paper – Future Trends for Australian Horticulture”
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Russell Cummings Business Consultant
M: 0414 929 585 W: www.sbdbusiness.com.au E: [email protected]
Thank You