X factor ppt with info at end
- 1. Discovering Your X Factor By Todd Mendenhall and Greg D’Amico
- 2. Exposes You To: • Insignia and Quantum Leap • Discovering the X Factor. Barrett Ersek • Special Rockefeller Habits Content for your Forums
- 3. What This Is Not: • Experienced Professional Speaker • Expert on the X Factor
- 4. Entrepreneurial Dyslexic • Like many of you I Have the gift of Dyslexia • Saw this as my weakness • More visual, take in lots of information, and see patterns
- 5. My History • Investment Firm 20 years • Started a Mutual Fund in 1995 • Started a Software Company • Went to India and set up office in 2004 • Using Rockefeller Habits since 2004
- 6. X Factor What is the bottleneck in your industry?
- 7. X Factor • X Factor is NOT about You. Its about: • Discovering and solving a constraint or bottleneck in your industry • Gaining a 10X advantage over your competition
- 8. Do You Want to Move Past your competitors by 10 to 30 times?
- 9. Happy Lawn – X Factor Happy Lawn Green Grass – No Weeds – No Hassles
- 10. Barrett’s Happy Lawn • Cost per customer was $275 ,10 yrs to 6000 • How to Reduce by factor of 10? • Leased material from Global Explorer
- 11. What Happened? • 2 Mill to 10 Mill in 4 yrs • Sold to TrueGreen • $1 returned in 6 quarters. Turned into $1 in 6 weeks
- 12. Title • Donec volutpat lorem • Praesent sodale nisl • Donec volutpat lorem • Praesent sodale nisl sit amet
- 13. Outback Steakhouse • One of the top 3 Restaurant chains in the industry. Won all kinds of Industry Awards. • Industry Issues – theft, inconsistency of food, service, other headaches. • Asked “Why” 5 times. • Realized it was the Managers
- 14. AutoNation • Industry Problem 4/5 Customers not returning. • Conference Break Outs all were on driving Traffic. • Wayne said how to get them back – Found customers wanted all Brands
- 15. Starbucks • What is their X Factor?
- 16. X Factor Tips • Ask… • What problems in your industry are so deep seated that everyone accepts and works around the problem? • What are some things that we do that an outsider would say “That’s crazy! Why do you have to do that?” • At Industry Conferences • What topics have the most presentations? • What problems seem to get solved again repeatedly and yet still begs another solution?
- 17. X Factor Opportunities • Biggest Cost • Delivery • People Reduction • Employee Retention • Process Flow • Innovation
- 18. Experience Sharing • Share and Discuss • Have you tried figuring out your X Factor? • How have you gone about thinking and solving this problem?
- 19. X Factor Exercise • Discover your industry bottlenecks • Brainstorm solutions: • It’s impossible, but what if we could …
- 20. X Factor Exercise 1 • Breakout in Groups of 6 or less • Come up with 2 business bottlenecks • Come up with 2 Industry Bottlenecks • Have Forum mates generate feedback that the bottlenecks are Industry not business
- 21. About EO Insignia & EO Quantum Leap
- 22. What is it? Regional Quarterly Forum Experiences
- 23. Regional, Quarterly Forums Presentations + Content + Goals
- 24. Experiences • Istanbul University – September 2012 • Campus Event - Park City, Feb. 2013 • Miami University – March 2013 • Masters Golf Trip – April 2013
- 25. Insignia/Quantum Leap Content People Strategy Execution (Happiness) (Growth) (Profit/Time) Finance Me (Options) (Living Legacy)
- 26. More Content
- 27. For More Information Patty Campagna pcampagna@eonetwork.org Or Eoinsignia@eonetwork.org EOQuantumleap@eonetwork.org
- 28. Thank You • Questions for me: • Email at greg@efficience.us
Editor's Notes
- #7: Keys: Ask the right question - what’s the bottleneck? Day dream about itthe WHO - people helped to get solution Take action - your first action may not work Measure your results Copyright Gazelles Systems, 2008. Working Your One Page Strategic Plan - by Patrick Thean
- #8: Keys: Ask the right question - what’s the bottleneck? Day dream about itthe WHO - people helped to get solution Take action - your first action may not work Measure your results Copyright Gazelles Systems, 2008. Working Your One Page Strategic Plan - by Patrick Thean
- #10: Company - Name and what they do HappyLawn – We are in the Green Grass no weeds business Their challenge The industry had a Sales cycle that was to complicated making it to long and to expensive as a result growth was difficult and expensive How they figured it out At BOG with Vern’s guidance we were able to come up with the essential question. The X-factor process - We focused on what was the bottle neck in our industry. If we could solve this bottleneck it would give us a 7 to 10x’s advantage over the competition. The essential question became – How can we reduce our sales costs & sales cycle by a factor of 7x’s to 10x’s. I was able to leverage all of my relationships at BOG & EO and eventually came up with the solution... GIS imaging and tax map data to measure the lawns over the web instead of using a sales person to measure every lawn. What their BHAG / Brand Promise / x-factor turned out to be BHAG – Defeat the evil empire... Sales greater than Chemlawn Brand promise – Green Grass, No weeds, No Hassles X-Factror - GIS imaging and tax map data to measure the lawns over the web instead of using a sales person to measure every lawn. Results or lesson learned Results:We sold our existing $2mil business in 2003 and started over, building a new business using the X-Factor. We grew from $0 in rev January 1 2004 to $10mil in 2008. Our sales cycle went from 3 weeks to 3 minutes and cost per sale went from $275 to less than $50 Lesson learned:All X-Factors become table stakes in 2003 GIS imaging was truly rocket science today with Google earth it is common place.