GFA Success in the NEW Normal by John Spence
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Transcript of GFA Success in the NEW Normal by John Spence
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Success in the NEW Normal
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For the past 22 years…
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Reality CheckKnowing – Doing
1 -10
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What does this mean to me?
How can I use this idea?
What can I do right away?
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For those who are prepared…For those who are prepared…
…chaos brings opportunity
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• The willingness… even enthusiasm… to change EVERYTHING combined with the wisdom to understand what must NEVER be changed.
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The Key To Success in the New Normal…
•Nimbleocity•Nim-bo-lishis
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Organization Effectiveness Audit
Page 2
Be “Brutally Honest”Scale of 1 – 10
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The Four – I’s
• Ignorance• Inflexibility• Indifference• Inconsistency
3
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How to avoid the Four I’s
• Aggressive external market focus.
• Ridiculously high level of customer focus.
• Keep the “Main Things” the main things.
• Bullish on knowledge sharing and learning.
• Teamwork / communication is mandatory – not optional.
• Passion and commitment at all levels.
• Foster a healthy paranoia.
• Revel in change.
3
1 - 10
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The Pattern of Business Success
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(T + C + ECF) x DE = Success
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Talent
Talent + Culture
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Cecil Van Tuyl
“It is all about people, people, people. You can kid yourself about a lot of things in your business, but at the end of the day it will always come down to people.”
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The level of highly satisfied and engaged EMPLOYEES in your business.
The number one factor in increasing the level of highly satisfied and engaged CUSTOMERS in your business is…
4
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Key Drivers of Customer Satisfaction and LoyaltyFinancial
Performance
Quality P&S&
Customer Relationship
EmployeeSatisfaction
Empowerment High Standards
Long-termOrientation
Enthusiasm, Commitment,
Respect
Training &Development
Fair Compensatio
n
CR= 104.12% increase in profits
CR= .404
CR=.334
CR=.277
CR=.275CR=.249
CR=.280 Coaching
CR=.285
CR=.371
CR=.365
CR=.191
CR=.247
TolerateNothing
Less
From: Practice What You Preach by Maister
Global study:16 countries529 companies15,589 respondents
4
Workshop Page 51 - 10
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Customer satisfaction drives customer loyalty… and customer loyalty drives profitability
100%
90
80
70
60
50
40
30
20
Extremely Dissatisfie
d
SomewhatDissatisfie
d
SlightlyDissatisfie
dSatisfied
Very Satisfied
Zone of Defection
Zone of Indifferenc
e
Zone of Affection
Loya
lty
Customer Satisfaction
Terrorist
Evangelist
A 5% increase in loyalty among your best customers…
Can produce a profit increase of 25% – 85%
I hate you
I don’t care about you
I love you
NITB
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Actively disengaged employees can reduce revenues by up to 22%, while highly satisfied and engaged
employees can drive profits up by as much as a 189%
Culture = Cash
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What do engaged employees look like?
1. They give more discretionary effort.2. They consistently exceed expectations.3. They take more responsibility and initiative.4. They receive better customer service ratings.5. They offer more ideas for improvement.6. They promote and model teamwork.7. They volunteer more for extra assignments.8. They anticipate and adapt better to change.9. They persist at difficult work over time.10. They speak well of the organization.
Page 61 - 10
6
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74%23,000,000
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88%
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What they look for in a leader…
Credibility
1.Honest2.Forward-looking3.Competent4.Inspiring
NITB
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What Employees Want: SBA
Focus me
Know me
Care about me
Hear me
Help me feel proud
Equip me
Help me see my value
Help me grow
Help me see my importance
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The key elements of a winning culture: Employees
• Fun• Family• Friends• Fair• Freedom• Pride• Praise• Meaning• Accomplishment
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1 - 10
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The Six Universal Drivers of Engagement
1. Caring, competent, and engaging leaders.
2. Effective managers who keep employees aligned, informed and engaged.
3. Effective teamwork at ALL levels.
4. Job enrichment and professional growth.
5. Valuing employee contributions.
6. Genuine concern for employee well being.
1 - 10
7
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1,300,000 interviews: Basic 4 + 1
Goal Setting
TrustAccountability
Communications
RECOGNITION
From: The Orange Revolution by Gostick and Elton 8
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Extreme Customer Focus
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Web of Value: VOC + MOT + WOM
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VOC
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How Many of these do you employ?
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Moments Of Truth
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MOT Practice Round
Dry CleanerHair SalonTailorPlumber
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Workshop VOC + MOT
9
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43% - 74% of purchasing decision = WOM/T
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WOM = Your BEST form of advertising!
78.9%23.4%
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You MUST have a WOM Referral System
Identify Ideal
Customer
ReferIdeal
Customer
From John Jantsch: The Referral Engine
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Workshop: Five ways to generate WOM
10
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The Evergreen Project
10 year study of 160 top companies
40 distinct industries
200 management practices
Winners, climbers, tumblers, losers
Winners had an average Total Return to Shareholders of 945%...
The Losers only averaged a TRS of 62%
From: What (really) Works by Joyce, Nohria, Roberson 11
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The Four Primary Practices:
1. A sharply focused, clearly communicated and well-understood strategy for growth.
2. Flawless operational execution that consistently delivers the value proposition.
3. A performance-oriented culture that does not tolerate mediocrity.
4. A fast, flexible, flat organization that reduces bureaucracy and simplifies work.
From: What (really) Works by Joyce, Nohria, Roberson 11
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The Secondary Management Practices:
• Talent = find and keep the best people.• Key leaders show commitment and
enthusiasm for the business.• Embrace strategic innovation.• Master the power of partnerships.
From: What (really) Works by Joyce, Nohria, Roberson
Score yourself on the 1–10 scale for all eight practices on page 11
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10 – 15 %
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What Inhibits Execution?National Survey of 4,000 Senior Executives
4. Inability to work together (21%)
3. Company culture (23%)
2. Economic climate (29%)
1. Holding onto the past / unwillingness to CHANGE (35%)
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In other words…
• In order to succeed you need a high-performance team that embraces a strong culture of disciplined execution and accountability while being nimble, agile and adaptable to changes in the marketplace.
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Workshop Page 12
Very Clear Expectations Specific and Measurable GoalsNecessary Systems & SupportRobust CommunicationConsistent Tracking of
PerformanceTimely Performance ReviewsRefuse to Tolerate mediocrity
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Final Workshop
Strategy map on page 13
Business excellence “Word Cloud” on page 14
Specific assignments pages 15 - 17
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If you have any questions at all please do not hesitate to send a note or call. My email address is: [email protected]
My twitter address is: @awesomelysimplePlease feel free to “friend” me on FB
Also, you might find value in the ideas I share in my blog. You can sign up for it at:www.blog.johnspence.com
Lastly, these slides have already been uploaded to:
www.slideshare.net/johnspence
Thank You