The vital few Karl George. The vital few Karl George A critical concept for the creative network...

The vital fewKarl George


A critical concept for the creative network

Connectors

Concept Customers

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The Vital Few


80/20

Inputs Outputs

Effort Results

ConsequencesCauses

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80/20

“The 80/20 principle applied to business has one key theme to generate the most money with the least expenditure of assets and effort.”Richard Koch – the 80/20 principle

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Concept

Vision is crucial

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Concept

“This telephone has too many shortcomings tobe seriously considered as a means of communication” Western Union internal memo, 1876

“Everything that can be invented has been invented” US Office of Patents, 1899

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Concept

“Who the hell wants to hear actors talk?” Warner Brothers, 1927

“I think there is a world market for maybe five computers” Thomas Watson, chairman IBM, 1943

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Concept

“Sight is a function of the eyes; vision is a function of the heart. Eyes that look are common, but eyes that see are rare.”Dr. Myles Munroe – The Principles and Power of Vision

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Mission

Concept

Vision

Strategic Objectives

Goals

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Concept

“I will build a car for the great multitude so low in price that no man will be unable to own

one”

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Concept

“To bring happiness to millions”

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Concept

“McDonalds restaurants dotting crossroads all over the country”

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Concept

"I want Virgin to be as well-known around the world as Coca-Cola."

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Concept

“Putting our money where our heart is”

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Concept

Our Current Position

Our Future

Position

What Will The Business Look Like

This satisfies the intellectual need of the team:• Market share• Product range• Brand recognition • Other

What Will The Business Feel Like

This satisfies the emotional need of the team• Increased job security• Better salary• Other factors that increase the enthusiasm for achieving change

Vision

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Concept

1. Establish the vision

2. Communicate the vision

3. Marshall the resources

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Connect

Before he wrote the millionaire next door – Thomas J Stanley studied two thousand millionaires.

He found the most important thing they had in common was a huge roladex (database)

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Connect

Dr Nathan Keyfitz’s (Harvard professor Emiritus) prediction in the mid eighties – “by the 2000’s we will all be technically adept, but who will succeed will be the people who can talk to people”

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Connect

Small world problem:

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CCreative Network


Connect

Physiology55%

Voice quality

38%

Words7%

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Customer

What is the purpose of business?

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Customer

The Ron Zemke diagram

SATISFIED

At Risk Loyal

LoyalAt RiskSearching

At RiskSearchingGone

Advocate

DELIGHTED

NOT MET

MET

VALUE ADDED

DISSATISFIED

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Customer

“A market focus strategy requires constant attention to target markets and close personal working relationships with customers”Peter Wilson and Sue Bates – Small Business Growth

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Customer

Leads 4000

Conversion Rate 25%

Customers 1000

Number of Transactions 2

Average Sale Price £1000

Total Turnover £2 000 000

Margins 15%

Profit £300 000

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Customer

Leads 4400

Conversion Rate 27.5%

Customers 1210

Number of Transactions 2.2

Average Sale Price £1100

Total Turnover £2 928 200

Margins 16.5%

Profit £483 153

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A critical concept for business leaders

Connectors

Concept Customers

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The Vital Few


The vital few

A man’s gift makes room for him

Proverbs 18:16


A critical concept for business leaders

Connectors

Concept Customers

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The end

The vital few Karl George. The vital few Karl George A critical concept for the creative network...

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