12 Tips for effective customer workshops

Seminars / workshops are a great tool to show thought leadership, promote your product/service and most importantly engage with potential and existing customers alike.

Here are 12 tips to help you maximise the customer engagement/learning opportunity:

1. Facilitate don’t Lecture – effective presenters engage conversation and guide the learning process, rather than talk down to audiences. The participants are your best tool, acknowledge them by integrating them & their knowledge into your delivery.
2. Ask the audience what they expect  – Everyone turns up with different expectations. Do a quick poll around the room as to what people are expecting to get from the day. Make sure you either cover that material or acknowledge up front you will not be covering it.  Write up key themes on a flip chart to ensure you do actually cover the topics requested. At the end go back to list and acknowledge each issue. Also get them to introduce themselves, it helps participants work out who to target and avoid during the breaks.
3. Don’t over script – Have structure and flow to the content you deliver. Go with the flow of the participant questions and their hot topics. I will use a standard set of slides, but speak differently to them dependant on the audience, using my arsenal of stories/examples to illustrate points, dependant on the audience. You are the subject matter expert, so trust yourself to deliver the magic.
4. Death by PowerPoint: Never, never read power point slides – your PowerPoint is a supporting actor, you are the main act.  Get a balance between text, diagrams and other graphics on your slides. The worst presentations/ seminars I have attended all either had text only slides or too many low quality images. Remember the power of the message is inversely proportional to the number of words and if a diagram or picture is worth a 1000 words. Use istock.com or the like to get some professional low cost royalty free images and take the time to create powerful diagrams. Also use a good projector and leave lights on and blinds open.
5. Use attendee examples:  Get people to apply the knowledge on the spot and share back their thoughts  – people will observe flaws in other people well  before themselves. Using examples from the attendees will make it a more personalised & relevant experience.
6. Use flip charts / white boards: Work out your key messages from the seminar and keep referencing them on a flip chart. Also when answer questions putting some key annotations on a white board will accelerate learning. The vast majority of people prefer visual learning/comprehension over verbal or kinaesthetic.
7. Manage time: You own the flow and interaction. Shut down persistent know it all’s or major diversions. Likewise poll opinions from quiet participants. If you have multiple speakers use an Master of Ceremonies (MC), it may even pay to get a professional facilitator in. Don’t run overtime.
8. Put additional reading in hand-out material to pass on to non attendees:  Add a few articles / white papers to the hand out material over and above the power point slides. Make it easy for a non attendee to get an idea of what your core messages are, if they are handed the material post event.
9. Subtle Selling / stay true to your brand:  95% thought leadership, 5% direct sales. Be clear on what impression you want to leave behind, style, brand positioning etc. The best sales methodology is a subtle thought leadership approach. Do not forget to put your logo and contact details on material and mention what services you offer without over doing it.
10. Make a stand: as an expert in your field the participants expect you to have an opinion. The events where I have expressed a strong opinion and opened the floor up to debate, have been the most engaging workshops I have run.
11. Continually develop your material: Constantly tweak your material based on audience feedback and new information that comes to hand.
12. Entertain & enjoy it: – if you have fun so will the audience. Great business is not boring. If your subject matter expert is a boring speaker: coach him, give him a co presenter, don’t leave him on stage for too long

Give us a call if you would like a hand with coaching your team on creating high impact workshop delivery.

Growth Management Consulting also runs in-house workshops on a range of topics including: Business Planning, Pitching, Investment Ready as well as facilitating board/management team off sites and other business events.

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7 Tips – Maximise Your Linkedin Profile

Whether you want new customers, a new job, a promotion or just to be found; here are 7 tips to help you build a better profile for yourself using your linkedin profile.

In this digital age, if you cannot be found on the web I personally begin to wonder what you are hiding or do you not want to grow your business?  If you are still holding allegiance to the tribe of anonymity and you have a front line position in a company (sales, marketing or owner) then I would suggest seeking a new profession or shutting your business down. If  you have more customers, opportunities and wealth than you can handle – then by all means operate in stealth and ignore the tips below.

 7 Linkedin Profile Tips  

1. Add your photo
   Many people are poor at remembering names. Your face is the best form of recognition we still have. Make it visible to everyone. Don’t use logo’s or diagrams. Better still if you can clear cut it (edit the background out).
2. Load your contact details – Phone, email and website
   If you want to be contacted then put your phone, skype an email address in and make them visible. Linkedin is better than the white or yellow page directories for getting up to date contact details. People who want to connect with other busy people (read successful or great potential clients) publish cell phone no’s.To access someones contact information, click the contact info envelope  at the top of their profile (highlighted below) and it will expand out to show their full contact information.
   
   The other day my wife and I found a wallet full of credit cards, office access keys and other personal stuff on the street. We then set off in a major social media stalking exercise to find and contact the owner – her hours of anxiety could have been reduced to minutes if she had put her cell phone no or email address in her linkedin profile.
3. When sending a connection invite – add a relevant comment
   Don’t just send connection requests without at least a simple “this is why I want to connect with you” or “this is how I know you” line. This way you turn your cold call to a warm call.I meet lots of people in my business life, many from speaking gigs – when someone from the audience attempts to connect with me with a little note I generally connect. People with big networks will more than likely accept your request.
4. Get some recommendations
   Linked in is a great way to build personal credibility – get personal recommendations from people you respect to build your credibility.  Because its in the public its more likely to be authentic.
5. Put some history
   Make sure you list more than your current role on Linked in. As a general rule cover the last 10 years of your business history.
6. Use your linked in network for marketing
   You can very easily export your linked in database to a csv file that you can use outside linked in eg starting an email newsletter list. Go to connections page – click settings – its in the panel listed as advance settings.
7. Delete Duplicate profiles
   If you have duplicate profiles – delete all but one. If you have lost both password and the email account it is linked to contact linked in support. Linked in now have a service that will merge multiple accounts into one.

Simple Business Case Disciplines Can Save You From Yourself.

The “she’ll be right” era is gone; it is no longer good enough to make business decisions based on gut and napkin calculations.

Does your business use formal business cases to make major decisions?

“Just Do It” – Doesn’t cut it any more

In an economic environment of tight margins, rapid change and competition, there has never been a better time to put in place some improved business discipline and robust decision making. Many businesses are actively growing in this climate.

One of the easiest ways to de-risk your business and make better decisions is to business case out all major decisions. This does not have to mean bureaucracy overload. Give yourself the benefit of an independent review panel to critique and provide feedback before progressing on major investments. The process of writing a business case will in itself create a better investment choice.

A project business case should stand up to robust debate, albeit from your board, bank manager or life partner before expending your time, passion and money.  Some major decisions that warrant a business case are: starting or purchasing a new business venture or product line and rationalising your product offering to improve focus or buying a major asset. Create a business case when failure of the project is going to hurt!

Too many business owners continue to fund projects without calculating true payback and considering long-term implications of their business.  Many of these become “the living dead”, “throwing good money after bad”.

 Ignore the value of money over time at your peril.

 Let’s take an example: your IT manager just approached you with a $100,000 project offering $20,000 savings each year over the next 7 years. Basic maths says YES, spend $100K to save $140K, so “let’s just go for it”. BUT what about the cost of that money over time?  If your opportunity cost of capital is over 13% you are actually going to make a loss on this project.

If you invested $100K for 7 years with compound interest you would expect more than $100K back including interest, so you should with your IT project, or business itself. Check the Internal Rate of Return (IRR) or net Present VALUE (NPV) functions in Excel Help. With a little bit of help, you can use these calculations to automatically calculate for you the “true cost”.

As a business owner, or custodian for the business (Managers), it is your responsibility to create shareholder wealth and protect the long-term sustainability of your business, identifying and eliminating risk to your best ability.

Pre-mortem Reviews

 Many businesses perform post-mortem reviews on projects, analysing what did and didn’t work in projects.  How about having one of these meetings before the project begins? By publishing your project budgets, plans, risks and assumptions in many cases you can actually improve the project by simply asking “what could go wrong?” Given the chance, people will help you avoid disaster before it happens.

Our very enthusiasm for an idea will drive us to success, but equally so unchallenged we can quickly be over consumed with that euphoria to our peril.  Do a basic investment test now.

4 Point investment test?

1. What evidence (trends & market validation) do you have of the long-term need for your product /service? (Strategic Market Opportunity)
2. Have you calculated what the “true” return for your investment will be, including the cost of capital (Financial Business Case) i.e. will you make money from it?
3. Have you clearly communicated to your team what you do and do not do? (business /project plan) i.e.  will your team be able to stay focused on the task ahead?
4. Do you have a clear and succinct message to engage customers and stakeholders (Your pitch) i.e. can you sell it?

Common mistakes made in businesses cases

 Check that you are not falling into common traps for business owners prior to making business decisions:

• Not creating a business case or having a 3^rd party review it
• Overly optimistic projections: delivery times, customer acquisition times etc
• Inadequate budget for sales and marketing – budget at  least 10% revenue
• Not accounting for the value of money over time – use NPV and IRR calculations
• No market research / validation to de-risk savings, or projected revenue.
• Underestimating the impact of competitive response
• Lack of stakeholder commitment or talent
• Not dreaming big enough – what could you do with twice the investment?

Don’t think of business cases as just approval mechanism, but more so as a mechanism to reduce investment risk. Business Cases provide an opportunity to clarify thinking, get input and focus for the project delivery team around clear outcome.

New training workshops for 2013:  I am now also delivering workshops under the Auckland Chamber’s Vital Training programme.

If you would like to know more about tool’s and techniques to simplify business decision-making and gain greater clarity in your business, then you should attend my  Auckland Chamber Vital workshops: Business Planning, Business Cases and Pitching More information is on the Vital Training Website   The next Business case workshop is 4th April at the Auckland Chamber – register here

Start With Why – Using PurposeTo Motivate Action

Simon Sinek’s book “Start with why – “How great leaders inspire people to take action” is a must read for all business owners and marketers alike. Be prepared to be inspired and start asking yourself what is your WHY?

His seemingly simple concept of engaging people with your purpose or “cause” (the “Why”), before bombarding them with the how & what (the typical features benefit sale pitch) is so simple, yet powerful. It is easy to see how this can transform your customer engagement, beyond a simple transactional relationship into that Nevada of life time loyal customer.

By purpose he is not talking about making money, which is the result that comes from achieving your purpose. He is talking about the inner connecting thought that gets people engage in what you do. This core motivating purpose, is the same concept that Daniel Pink’s book Drive is all about. You can read more on Daniel Pink’s take on purpose in my blog post – “Forget about incentives for your staff”

Simon’s approach is a great tool for building that instant bond with your target customers , using the common ground of “a matter of principle”, before attempting to bait them into your product value proposition. Simon’s approach is well illustrated by using  Apple as an example. Compare the two sales messages below:

The What / How Sell: (how most companies sell)

• We make great computers.
• They’re beautifully designed, simple to use and user-friendly.
• Wanna buy one?

The Why / How / What  Sell : (how apple sell)

• Everything we do, we believe in challenging the status quo.
• We believe in thinking differently.
• The way we challenge the status quo is by making our products beautifully designed, simple to use and user-friendly.
• And we happen to make great computers.
• Wanna buy one?

Watch at least the first 8 mins of Simon Sinek’s 18 min TED Video (below)

Take the time to uncover your “Why” and get your customers appreciating the true value of your offering.

The “Start With Why” methodology is a quick way to qualify potential customers in or out. People who get your purpose, will quickly build powerful relationships with you.

If you do not connect on the “Why” with your customers,  be prepared for the typical transactional relationship that can quickly fall into the death spiral of price haggling.

Simon Sinek’s book is available on kindle and paper, well worth the investment.  You can read more about his methodology on his web site

Your Business is Customer Centric – Yeah Right!

Ineffective websites – not talking the language of customers

Most businesses in NZ suck at marketing.  They under invest in sales activities and in many cases waste marketing spend creating campaigns, websites and newsletters that do not appeal to their target audience.

Too often the “just do it” drive and focus on “pretty” means businesses do not take the time to extract a powerful core message, “story” and purpose to drive their business and marketing campaigns. All this results in what I call “crap in – crap out” marketing and business planning. Evident by the number of company web sites that have weak selling messages and non- focused businesses selling to everyone.

What I am suggesting is slow down long enough to analyse your customers world and re-purpose your business on what’s important – your customer.

Most web design companies do not have the capability to extract your core marketing messages; they lack the breadth of business and market knowledge. Like any process the better the input  (the design brief) the better the output – you need to own the brief.

When asked – most if not all businesses will proclaim they are customer centric.  If you asked all of your staff “what does our business do?”, how many unprompted would mention the problem you solve for your customers vs how you solve it or what your core “craft” is.

An emphatic focus on the customer and solving their pain is crucial element of all business success.

Ask a business that creates software, what sort of business they are and they will invariably come back with “we are a software company”.  This is not surprising, given they spend most of their life thinking and creating software products.  The reality is their customers do not care at all about the software, they primarily care about what the software does for them (how they measure success).  No matter what your craft is whether it’s: software, science, baking cakes or fixing bicycles it is never about your craft for the purchaser.  Your customers are primarily interested in WIFM (what’s in it for me) and that will include how they measure success.
In the B2B environment more often than not customers want increased sales, productivity or cost reduction. In the B2C place in many cases it comes back to some form of “experience”. What pain or problem are you solving for your customer? What is your customer’s measure of success?

 Successful businesses base all their business activities around solving customer problems, continually reference and reinforce their key selling points and how their customers measure success.

 

Make sure your web sites lead story is about solving the customer’s problem and the outcome they get, rather than how you solve it. Use the language of your customer not your internal how we do it language. Once you hook them with the what, then tell them how, not before.

Don’t forget the three most power tools for communicating customer success are: customer stories, contrast (with and without your product) and quantifying the outcome they get.

The better and more succinct the definition of your customer pain and your solutions outcome, the more powerful your marketing and other business activities will become.

Suffering “the curse of knowledge”, we are simply to close and pre-occupied with how we solve the problem, to articulate the new buyer trigger points. My suggestion is get a 3^rd party who understands your craft to help unravel the customer need, to create a better creative briefs and core purpose to drive business activities.

This focus on customer equally works for your business planning and day to day operations. You can use the power of a succinct purpose to empower your staff to make better decisions on the fly.  Remember the Williams Formula One Team mantra – we make the car go faster. Any one on the team can make decisions on the spot: does this activity make the car go faster? Then lets do it!

 How does your business stack up?

 Customer centric test:

1. Does your website use your customer’s language (outcomes) or yours? (Features or benefits)
2. Do you begin customer discussions with how you will solve, rather than the problem or outcome?
3. Have you asked current customers, Particularly repeat customers, why they buy from you? Have you included their response in your messaging?
4. Do you use the customer problem to help decide what you do and don’t do in your business?
5. If any of your staff were asked what do you do – will they give a customer centric response?

GMC Business Model Canvas V2

Clarity and definition of your business model is one way to give your business an instant steroid shot.  From a planning perspective it is also worthwhile exploring a range of “what if” scenario’s around applying different business models to your business. Prepare your Business as usual (BAU) canvas, then challenge yourself to look at new canvas mixes: different business models and make/buy combinations.

The business model canvas is a great way to brief new stakeholders who work with you including new staff, bankers, advisors and potential investors. Once developed it can be used with the GMC Guide to Saying No.

The original book “Business Model Generation” by Alexander Osterwalder & Yvess Pigneur provides great examples of how to document business models, along with methods to brainstorm innovative changes in business models for existing businesses.

I have been using my own variant of the business model canvas for some time. I  have recently remodeled my GMC  variant and thought it was time a shared this.

Its great to see the Business Model Canvas is gaining wider use, many of the universities are picking up on it, using it as tool in their entrepreneurial programmes. 

(Click image to download pdf template)

The GMC Canvas Components:

Value Proposition (VP):
The value proposition (VP) must be at the absolute core of any business. When defining your VP it is worth while to also clarify your “Customers Problem” that they will pay to solve and make sure that your VP definition include your Unique Selling Proposition (USP).

• Is your value proposition unique to you, or would it work for any one else in your space?
• Do you need to separate out the value proposition for the customer (the person paying the bill) from the end user of your product/ service?

 Market Segment (MS):
Define your market segment as tightly as you can. Often it pays to focus on your beachhead market  – i.e the market where you can make the most money the quickest.

If you have a planned phase approach to your go to market strategy list the markets separately.  Do not forget to include a psychographic (decision making priorities – traits) and behavioural definition if relevant.

• Challenge yourself to narrow your definition so you can easily qualify out C grade customers (the ones you do not make much or any profit off)
• Do these customers have budget to spend on solving your the problem you have identified?

Core Competencies:
What key skills and knowledge do you have? These will come from the strengths you have listed in your SWOT.

Have you listed the ones that enable you:

• Create value for your customers
• Acquire customers
• Differentiate you
• Generate profit
• Sustain your competitive advantage

Assets:
Remember to include intellectual property, customer relationships, key contracts and brand if they are assets for you.

• Don’t include items that can easily be replaced or that are low value

Key Partners:
List only KEY partners that help you build your product or service or reduce risk in your business.

• If a partner competency is too crucial to your business highlight it perhaps and an arrow to internal competency list  (You may need to plan to bring in house or get a good contractual arrangement)
• The make or buy decision will be represented by whether you list something in the key partners or competency box

Channel to Market:
 In this section include key pathways to acquiring customers and leads.

Cost Structure:
Split overheads and variables.  Explicitly list any major costs or contractual arrangements. List items from your P&L that equate for more than 20% of your overhead cost.  Show a reference metric eg % of cost.  Show raw cost (or margin) of and manufactured items that account for majority of your revenue.  Don’t forget to list any major debt.

Revenue:
Split revenue into major revenue streams – product lines/channels.

BHAG  (Big hairy audacious goal)
What is the BHAG that motivates people to join the cause. Refer BHAG post

• Your BHAG needs to be more than a revenue target.

 Brand Essence / Values
What are the top 5 – descriptors of your brand essence and culture values.

• Most HR issues stem from failure to adhere to core values. Makes sure they are explicit and all staff, understand how they apply to them.

_____________________________________________

What’s Missing: 

If something is missing in your current canvas that should be there – eg your brand should be an asset but it isn’t add it to the canvas and highlight it in some way.

Create Multiple Canvases

Take the time to explore multiple canvases and then do a cost/benefit scenario analysis using a simple comparative matrix

Don’t let your public speaking skills limit your potential

Finding your voice – could be the easiest way to accelerate your business or careers success.

Whether you are a business owner or executive trying to get ahead, your success will be severally limited unless you can master the art of public speaking.

Standing out from the crowd is an essential element of success for people and businesses alike. Public speaking is one of the easiest and cheapest ways to stand out in the crowded market place.   Whether it is how you speak at meetings or getting a speaking engagement at trade conferences.

Some people love public speaking, others dread it… but whether it’s speaking to conferences, sales calls or just plain networking and major meetings; it is clear that even to day in the digital age you need to master the art of speaking to get ahead.

Only 7% of message impact comes from the words we use. The rest from the way we deliver it.  The way that you deliver “your words”, comes from how we process things internally and can be reprogrammed.

To develop confidence and passion into your speaking here are a few tips:

Personal brand – Consciously own a style

Too often the inexperienced speaker will put on their “speaking voice”, inadvertently becoming someone other than themselves on stage. Generally that “speaker voice” is a poor version of you and they are selling you short. Save the being someone else to the professional actors. The easiest person to be is you.

Get clear about who you are and what your personal brand stands for. Develop a written list of key characteristics of your person brand, values and style in your normal non-speaking business life. Then use this list to encourage and challenge yourself to be that on stage. Remember being “consciously competent” is the step in learning before “unconscious competence”.

If you work for a corporate do not loose your individualism and personal brand completely to the company brand. For “owner managers”

Use a topic you are passionate about to start

Ask yourself “What part of my topic am I most passionate about?”  Use this in your opening, if you are truly passionate about it, your body will change its physiology and you will become alive on stage.

Stand for something: Have a few “soap box” topics

Have a few pet topics that you can speak on, so that given short notice you always have something to talk about. Make a bold claim; debate is one of the most powerful ways to engage audiences.

Just Do it

Yes nothing will get you better at speaking than practice. Take every opportunity to practice. Start by always asking questions at conferences and large meetings. Hunt down speaking opportunities; industry associations are a good place to start.

If you lack speaking opportunities join a toastmasters club. Toastmasters provide a friendly and inspirational environment to learn and improve every week. I personally got a lot out of attending a club for a while and was blown away by the relaxed format and inspiration speeches I heard.

Get Help

The quickest way to improve you learning is to get some one on one coaching and critique.

Basic steps to finding your voice:

1. Personal commitment to fix it
2. Process of creating a conscious personal brand – and using it as a strength in presentation style
3. Learning some mechanics / tools of delivery that are compatible to you
4. Creating the message to deliver for the voice medium.
5. Personal coaching on all above – including follow up coaching

At GMC we help business owners and executives who want to “find their voice” in the business environment,  helping you discover what to say and how to say it. Unlike traditional speaking coaches we get business and business people – and come from a business perspective rather than entertainer or actor mind-set.

Test your BHAG

What is the uniting force in your business? Running and working in high growth companies is hard work and we are often losing sight of what we are all about.

Daniel Pink in his book Drive he outlined three core drivers for people: Autonomy, Mastery, and Purpose.  (Note:  For those who have not read this great book watch the 10 minute animated summary)

Nothing binds a business like a clear and succinct BHAG (Big Hairy Audacious Goal) and a clear purpose.  I am not talking about the traditional boring mission statements that lime the walls of corporate offices, full of: Corporate blah blah… typically lots of words taken from a corporate speak bingo competition.

What I am talking about is a mantra or Big Hairy Audacious Goal (BHAG) that is worth waking up for in the morning and going the extra mile.

Ingredients of BHAGs that work are:

• Compelling and gripping: people understand straight away
• Action orientated
• Bold: bordering on arrogant and unattainable
• Clear: who, what, where, by when
• Types: target, common foe, role model, internal transformation
• SUCCINCT: The power of message is inversely proportional to its length

Have a look at some of the founding BHAGs for some of industries great companies noting this is what they started with…

• Microsoft: “A computer on every desk and in every home”
• Amazon: “Every book, ever printed, in any language, all available in less than 60 seconds. Also: Earth’s most customer centric company”
• Ford: “Democratize the automobile”  (1900’s)
• Twitter:  “To become “the pulse” of the planet”
• Giro Sport Design: “Become the Nike of the cycling industry”
• Nike: “Crush Adidas” (1960’s)

Brian Gaynor spoke at Springboard this month citing “New Zealand  business owners, in comparison to Australian counterparts, lacked ambition”.  Check your BHAG against the above list. Do not fall into the trap of being another conservative Kiwi company without big ambition.

Here are a few ideas from local examples (note: not their actual BHAG)

• Biomatters:  “Tools on every biologist’s desktop”
• E-spatial : “THE location intelligence behind all major New Zealand enterprise solutions”
• Sale finder: “New Zealand’s ultimate consumer research tool”

When it comes to purpose statements – these are just clear concise versions of your value proposition in the language of your clients. More on this later – a topic for another blog post.  In the meantime, you can read value propositions revisited, creating succinct messages, No value proposition = No business from old posts.

Example Purpose: Spike mail: “Building qualified and engaged buyers versus creating lists”  – note no reference to their core craft of email marketing.

9 Traits to Excite an Investor and Prosper…

Will your company get investor interest and, more importantly, will it prosper?

Too many companies I see pitching for investment pitch a product or a technology, not a company.  Fixing the product pitch is a relatively easy task in comparison to fixing the business pitch, mainly because most businesses don’t have a strategy or even a plan. Sorry, “build it and they will come” doesn’t count. 

Test your company against this list to see if you are investment ready:

1. A product that we understand –  the problem and the solution – no matter how complex the science is behind your company, it must have a simple explanationof the problem you solve for customers and the value you give your customers and end users.
2. Validated market demand for the product – if it’s a new venture what third party proof do you have (eg. market research, etc) that people will buy your product at a price, you can make money from it. If it’s in the market already, excite us about your sales growth story.
3. A trend driving increased demand – creating the “perfect storm” – what is going on in your target market that says this demand will continue and ideally increase?
4. A sustainable competitive advantage –how are you going to defend yourself against the competition when it wakes up?
5. Clear, quantified metrics as to how the business makes money – how well defined is you business – finance model? Can you model your sales process (eg. x dollars spent on Google ad words = y dollars sales)? At least understand the financial model and your capacity constraints.
6. A clear and easily communicated business plan/strategy – including go-to market –  a clear and concisestrategy and plan is a long way towards achieving greatness. Give us confidence you have a tangible way to reach customers and meet demand.
7. An experienced team – Nothing happens without a committed and well-equipped team. What relevant experience does your team have? Remember always employ people smarter than you.
8. Clear return for investor – is your valuation set at a point where the investor can actually make a return? Remember no exit plan = no investment.
9. Fun people working on cool stuff – fun and cool mean different things to different people – but like pornography it is obvious when it is, or isn’t. 

I consistently see in the New Zealand market place, time and time again, businesses get caught up with the product, technology or science and are wasting their efforts because they failed to stop and look at the bigger picture of a full go-to market plan and strategy.

Debbie Humphrey and I have launched a new investment ready programme called Business Dominoes to help business owners both recognise this strategy gap and fill it. All of our clients from the first intake are raving about the transformation their business stimulated from this programme. Debbie and I believe you are expert at driving your company, you just need a hand as to where to drive to and who you should take with you.

Milestone Map-Plan

Need to communicate your business plan to attention deficit stakeholders? … or perhaps just get smart feedback on your plan.

Creating a one-page milestone map-plan on a chart is a great way to keep you, your team and advisors focused. With a small list of tactics and key measures you have a far greater chance of achieving your desired end result.

Many business growth strategies fall apart at the transition point between creating key strategic themes and establishing a set of measurable tactical tasks and goals.  Too many businesses end up with huge lists of tactics, most of which will only get token attention, with the end result being  the plan never being executed.

This technique will force you up front, to prioritise and rationalise your tactical list of things to do. The milestone map-plan is a great way to succinctly communicate your business plan both past, present and future to all stakeholders of your business. Particularly when you are seeking intelligent feedback and buy-in from potential investors and staff whose attention spans are limited.

A fictitious example of a web company is shown below to illustrate the technique. (click the chart image for larger view)

Tips on using the milestone map-plan:

• Limit yourself to max of 10 milestones per year – prioritise the top 10 that will influence or measure success
• Split your milestones across different functional areas.  Add rows to suit your business but make sure you include at least finance, market, process and people.
• List the last 1-2 years to help provide flow
• Include additional boxes on key risks and your competitor’s response, both historic and forecast.
• Do not fill the chart with activities that will naturally happen unless they help with the understanding of the plan
• This is not a product roadmap –list only major product releases/events
• Put it up on the wall by your desk for daily review
  

The milestone map-plan is great for helping all staff members focus on tasks that will help you achieve your goals, as well as showing the dependencies of tasks.

If you find yourself or your staff overtime not executing tasks on the plan then its time to challenge the map-plan and test out whether “the plan is still relevant”. If not change the map-plan otherwise re prioritise your work.

Put your plan up for continual challenge with advisors and staff. Do not be afraid to throw it out when the environment changes. Do not fall into the trap of “the law of committees”

“If a committee is allowed to discuss something long enough, it will inevitably vote to implement their idea, simply because so much work has already been done on it.”

If the plan is no good say so and do something about it.

Succinct visual tools like this and the business model canvas, create powerful discussions very quickly and maximise interaction time.
More importantly they increase the probability of success.