The Playbook for Revenue Growth Success presentation 2020
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The document outlines a 5-step playbook for business success in the new economy: 1) Identify your current position, 2) Align your strategy with new economic dynamics, 3) Reengineer products and marketing, 4) Optimize business processes, and 5) Invest in leadership and human capital. Key recommendations include creating strategic functions, developing recurring revenue streams, focusing on processes over people, outsourcing until scale is achieved, and tying compensation to strategic goals. The playbook emphasizes the need for companies to change their business models to survive in the new economy.
The Playbook for Revenue Growth Success presentation 2020
- 1. The Playbook for Success. Step 1: Identify Where You Are?Step 1: Identify Where You Are? Step 2: Align Your Strategy to the “New Economy” Dynamics. Step 3. Reengineer your Product Offerings and “Go-to Market” Techniques. Step 4. Optimize Your Business Processes to Align with the “New Economy.” Step 5. Invest in your Leadership Skills: & your Human Capital. Capability STRATEGY PRODUCT OFFERINGS Success “Effective strategy ensures outcomes by aligning people and processes in their daily pursuits.” PROCESS LEADERSHIP Competencies
- 2. Identify Where You Are g What business are we in? Where do we want to go? Strong 2nd – Objective How are we going to compete? How did the company perform last year? ROE/Market Share/Profitability ATEGY Who are my most important customers? How are their needs changing? STRA k 1st – Objective HERE?g g E X E C U T I O N Weak Strong Wea How should the “New Economy” Change Your Business Model? E X E C U T I O N How should the New Economy Change Your Business Model?
- 3. Align Your Strategy for Success What Changes are required in your Strategy?What Changes are required in your Strategy? • Create a Strategy Function: Don’t do it all on your own!! – Leverage Advisory Board(s)g y ( ) – Outsource to Professionals – Create Committees of Domain knowledge • Create and Implement Management Science• Create and Implement Management Science Customers Value Prop Propos Channels Products/ Services Organization Propos Resources Pricing Customer Experience Management Sales/ Marketing How should the “New Economy” Change Your Business Model?
- 4. Reengineer Your Product Offerings & Go-To-Market • A “Portfolio” of Products Supporting the Strategy is Required• A “Portfolio” of Products Supporting the Strategy is Required. – Creates Differentiation in the Market • Develop Marketing Assets. – Profile & targeted customers identifiedg – Manage & develop marketing assets – Brand equities are key • Develop Processes & Precise Measurements for the “Go -to- Market” Activities. • Must have a “Portfolio of “Routes to Market.” – Alternative Distribution – Channel & Partnering – Direct Sales – Other • Business Models that are dependent on “Feet on the Street” are “Old School.” – Will Accelerate Failure – Unaffordable & Institutional Investors will not fundUnaffordable & Institutional Investors will not fund • Must Develop Recurring Revenues Streams: Contractual Revenues. – A critical element of the business model requirements for the new economy How does your company “stack up”? Change is required to survive!
- 5. Optimize & Align Your Business Processes to This Economy Focus & Depend More on Processes: Not People • Process Before People = ↑ Productivity • Process Over People = ↑ Quality • Process Over People = ↑ Business Intelligence & Management Science • Trained & Effective People Over Process = Best of Breed Performance • Process + People + Technology = Wealth Creation • Scalability & Operating Leverage will Attract Institutional Capital Outsource Until Scale is Achieved • What are you outsourcing? Why? If Not; Why Not? Implement Cross Functional Measures: What You Can Measure You Can Improve!! Identify Process Needs and Improvement Areas Implement New Processes for Scalability Connect the ‘CSO’ (Chief Strategy Officer) to Operating Management What business processes are you improving and why? How will you measure the effectiveness of the new processes ?How will you measure the effectiveness of the new processes.?
- 6. Invest in Your Leadership Skills & Human Capital • Mission: Objectives, Goals, Values, & Success. – Will be a “Key” Employee Retention Tool • Insure Role Clarity & Objective Achievement is Cultural. • Measurement & Metrics Tied to Individual Contribution Performance. • Compensation Connected to Strategy Elements. Eff ti I ti C ti P– Effective Incentive Compensation Programs • Invest in Your People. – Training – Job Skill developmentJob Skill development – Coaching – Non Monetary Reward • Have a Workforce Plan & Management Process.g – Should be Out Soured • Never Accept Mediocrity: It is an Enemy! Success Will Be All About Roles, Goals, Agendas, and Achievement.