spectrum proven strategies for growth 2014-1119
DESCRIPTION
Spectrum shares a simple planning framework to guide small business owners in determining their growth strategies. This was presented during a recent webinar targeted towards small business owners. Spectrum delivers entrepreneurs, investors and management what they need when facing growth challenges, strategic changes or exit planning – experienced talent on a variable cost basis across a wide range of strategic and operational disciplines. We have walked in our Clients’ shoes and appreciate the differences between theoretical possibilities and operational realities. We work under multiple engagement models to assure alignment with our Clients’ desired outcomes.TRANSCRIPT
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Proven Strategies for Growth
Jeff Fenter
Paul Porcino
Doug Ventura
November 19, 2014
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Today’s Objective
• Provide you with a simple planning framework to guide you in determining your growth strategies.
Interruptions are encouraged. Type Questions or Raise your Hand at anytime
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
“Proven Strategies for Growth”119,000 results
What is Strategy?
“Strategy”20,157 results
186,526 Books on “Strategy”
“Strategy”34,400,000 results
“Strategy”12,100 results
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Many forms and frameworks
Consolidation-
Endgame Curve
Blue Ocean
Strategy
Marketing Mix
(4/7 P’s)
Porter’s Five
ForcesSWOT Analysis Product Lifecycle
BCG Growth-Share
MatrixPEST Analysis
Consumer Adoption
Curve
1
2
3
4
5
6
7
8
9
Balanced
Scorecard
Organizational
Hurdles
Hoshin Kanri
10
11
12
STRATEGY DEVELOPMENT STRATEGY EXECUTION
And many, many others….
Source: http://flevy.com/strategy-frameworks
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Strategy
Explicit set of deliberate choices
that guide your direction as a
company.
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
The only thing holding you back is a four-letter word: Fear.
“There’s more to lose now, so it’s too risky to change anything.”
“What if I over-extend the business?”
“This isn’t the right time.”
What Gets in Our Way?
October 23, 2014
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Framework for a Growth Strategy
• Who am I?
• Where am I today?
Today
• What
• How
• Who
Plan & Execute• What do I want to
be?
• Strategic, Financial, Operation and Organizational
Aspiration
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary. (c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
CENTRAL
SUPPORT (the Core)
Reports visually “easy”, correct,
edited, user friendly,
appealing Applied Social Science
Research** Training – OD, Social Psychology: Enables us to ask right questions
CORE
Customer Results – Outcomes –Funding ROI
Innovation
Revelation
Responsiveness –Pro-active, Engaging
** Need to “translate” this (training, OD, Social Psych) to the Market. It’s not relevant to them. Can we make
the relevance clear without confusing the message?
Fidelity to the data - Accurate
High-Quality reports and
analysis
Data Security (breach could cause loss of
business)
Customer Capacity Building (helping to
meet their objectives)
Data Analysis – on par with small
research market
Open to Opportunities
Ability to tap people into other resources
they may need
Evaluation – Design studies and
evaluation plans
Transparency
Provide Recommended
Actions
Regulatory Compliance
(Likely) DISTRACTORS
Willing and able to do non-social
science (ex. employee surveys) research
Today
Plan & Execute
AspirationCo. X Example: What is your Core?CORE MESSAGE: We are an applied social
science research firm that uses
OD/Psychology principles to engage
with clients
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary. (c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Very Difficult to Achieve model, product, process, etc.
Note: If Cliff is “too deep” –Abandon (quickly)
Steep Enough That Others Will not Follow = High Competitive Advantage (if can leverage differentiating factor)
Somewhat Easy to Achieve – So not very steep challenges. Also easily replicable –
become commoditized, compete almost exclusively on price
The Cliff ModelToday
Plan & Execute
Aspiration
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Jim Collins, “Good to Great”Today
Plan & Execute
Aspiration
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Brutal Facts
• What is our “core” business –how do we add value and what makes us unique?
• Who are our target customers, and what is our value proposition to them?
• What capabilities make us best at how we add value to our individual businesses and how well do they deliver their value propositions?
• What work should we minimize or divest?
• Industry• Competition• Customers• Organization• Core Competencies• Assets• Structured Analysis
Today
Plan & Execute
Aspiration
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Multiple Options to Achieve Growth
• Product Differentiation
• Geographic Expansion
• Channel Expansion
• Pricing
• M&A to Corner a Market
• Organizational Capability
• No plan
Today
Plan & Execute
Aspiration
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Case Study
• Super-Premium ice cream manufacturer sells in scoop shops, grocery, and mail order.
• Initial 2-day strategy session followed by full organizational assessment. Multiple follow-on sessions over 2 years.
• Identified actions to drive immediate and long-term improvement in manufacturing, retail, and profit.
• Increased production by 40% in year 1, expanded distribution, and grew sales 300% to $35M over 3 years.
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Case Study
• Precision manufacturer was a market leader in its niche. Niche market was flat and slow to adopt new technology or methods
• Developed strategy and plan to enter new markets (that value complex machining skills) by acquisition
• Set criteria for target acquisitions based on critical needs (essential competencies and relationships)
• Results – grew from $30 million to $150 million over 10 years, expanded from 1 industry to 4, developed new technology in new markets now being deployed in the original niche market
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Framework for Growth
• Who am I?
• Where am I today?
Today
• What
• How
• Who
Plan & Execute• What do I
want to be?
Aspiration
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
Questions?Jeff Fenter
(513) 780-7671
or
Visit our Blog on SpectrumBuilt.com
(c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary. (c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary. (c) 2014 Spectrum Strategic Advisory and Consulting Services, Inc. Confidential and Proprietary.
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