Leading for Success in 2014

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Information about Leading for Success in 2014
Business & Mgmt

Published on March 6, 2014

Author: pkftexas

Source: slideshare.net


As executive and leader in your company, you know there are numerous factors which drive your business results. During this interactive workshop, you will learn how to grow your products and service offerings in a 2014 world. Modeled after the successful PKF Texas Mindshop Roundtable Groups, we expect this session to leave you inspired to lead and act on opportunities in your business.

Key take-aways:
• How to identify and remove waste from your business
• Identify the stage of business that best fits your company
• Finding balance in your work and personal life
• The importance of your personal brand

Byron Hebert, CPA, CTP, Director of Entrepreneurial Advisory Services at PKF Texas specializes in working with business owners and entrepreneurs to assist with building and managing their business to be more profitable, therefore improving their enterprise value.

Leading for Success in 2014 Byron Hebert, CPA, CTP Pannell Kerr Forster of Texas, P.C. CPAs & Professional Advisors

Leveraging Your Personal Brand

Bike of Life – Personal Balance FAMILY HEALTH SOCIAL MENTAL FINANCE PHILOSOPHY Business Life Balance Personal Life Balance

Your Personal Brand Your current Personal Brand is what you are known for so essentially it is: “What people say about you when you are not around” Such as: - She is a strategic thinker - He is somebody that gets things done - He saps energy from everybody Why is this important in the context of today? “If you play to your strength you achieve more leverage and implement strategies more effectively”

What is Their Personal Brand?

I am known as… Key Strengths Value to Employer Current ability to play to Strength Fit with Vision Total Communication Skills 8 9 8 25 Leadership Skills 7 7 6 20 Self Confident 4 6 6 16 Team Player 7 8 8 23 Self Motivated 5 6 6 17 Innovative 6 6 5 17 Problem Solver 3 5 6 14 Time Management 6 5 6 17 Decision Making Ability 7 6 7 20 Customer Focus 9 9 8 26

SWOT Analysis • How can I use these strengths to commercialise these opportunities? • How can I use these strengths to overcome these threats? • What do I do to make sure that these weaknesses don’t spoil the opportunities? • What if the weaknesses combine with the threats. Corrective action? STRENGTHS • Strategic Thinking OPPORTUNITIES • Grow Business THREATS • Distractions • Weekly Strategic Planning meetings I run focused on growth • Create a Stop Doing List to be less distracted WEAKNESSES • Time Management • Ensure we put good implementers in the project teams pushing for growth • Review level to which one page plans are completed after 1 month and if not change key strategies

Grounding your product and service offering in a 2014 World. How to cut through with customers?

Product Surround

Case Study: Jetts 24 Hour Fitness

Product Surround Old equipment State of the Art Equipment Not open when I want No Classes Open 24/7 Tied in for years No Contracts Full of muscle bound gorillas Too crowded Gym Family Memberships Not convenient Weekly Fees Big Network Expensive Can’t use when I travel

Growth Ideas Four ways to grow a business Where is your biggest opportunity for you or your business?

Exercise: • Write your service offering in the middle • List key challenges and issues for your target market on the outside of the circle • List in the inner circle what services or offerings could you build, refine or deliver more effectively via your customer surround to address that target market’s issues?

Toyota 7 Waste Audit AREA Overproduction Duplication Producing without guarantee of sales Errors Waiting Waiting time – work in progress Freight Storeage Transport Stock Layout Sub Contracting Travel Inappropriate Processing Senior partners doing work juniors could do Wrong equipment Laser prints for draft copies Inventory Raw material Old Stock Product range Motion Factory Layout Desk Layout Hand movements Defects Re work Production faults Errors Total $ COST $ EASE OF REMOVAL Lo Av Hi -5 0 +5 34,000 18,000 15,000 |--X--|--|--|--0--|--|--|--|--| |--|--X--|--|--0--|--|--|--|--| |--|--|--|--X--0--|--|--|--|--| 28,000 14,000 9,000 |--X--|--|--|--0--|--|--|--|--| |--|--|--|--X--0--|--|--|--|--| |--|--|--|--|--X--|--|--|--|--| 10,000 45,000 5,000 |--|--|--|--|--X--|--|--|--|--| X--|--|--|--|--0--|--|--|--|--| |--|--|--|--|--0--X--|--|--|--| 17,000 8,000 9,000 |--|--|--X--|--0--|--|--|--|--| |--|--|--|--|--X--|--|--|--|--| |--|--|--|--|--X--|--|--|--|--| 17,000 12,000 55,000 |--|--|--X--|--0--|--|--|--|--| |--|--|--|--X--0--|--|--|--|--| X--|--|--|--|--0--|--|--|--|--| 16,000 6,000 13,000 |--|--|--X--|--0--|--|--|--|--| |--|--|--|--|--0--X--|--|--|--| |--|--|--|--X--0--|--|--|--|--| 12,000 16,000 22,000 |--|--|--|--X--0--|--|--|--|--| |--|--|--X--|--0--|--|--|--|--| |--X--|--|--|--0--|--|--|--|--| 381,000

How – Plan, Do Check, Act Cycle PLAN DO PERFORMANCE ACT CHECK QA - - - - - Current Big Step Improvement Small Step Improvement PROGRESS Performance Level

How – Plan, Do, Check, Act Cycle Act Plan Act Plan Act Plan Check Do Check Do Check Do PLAN DO CHECK ACT – – Objectives, Measures/Goals, Strategies/Actions – Most critical processes – Measures, Mindshop tools Corrective & Preventative Actions

Business Improvement Stages STRUCTURE Stage 1 Visible Stage 1 = 1- 2 years Invisible WASTE Stage 3 = 2- 5 years Stage 2 BELIEFS/CULTURE Stage 3 Stage 2 = 1- 2 years

Exercise: • What stage of business are you in? • What are the belief systems in your business?

DVP Formula DVP Formula

Locus of Control My Paycheck My Boss My Co-workers Customers Do you have an external or internal locus of control?

Questions? Byron Hebert, CPA, CTP Director, Entrepreneurial Advisory Services PKF Texas bhebert@pkftexas.com 713-860-1455 See more at our thought leader blog, The CPA Desk, and check out our other Mindshop Roundtable tools.

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