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Merit Event - The Business Expansion Imperative - To grow or consolidate – do we have a choice?

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Information about Merit Event - The Business Expansion Imperative - To grow or consolidate...

Published on January 15, 2008

Author: meritnorthwest

Source: slideshare.net

Description

Hear From Professor David Hall – a businessman who’s done it all, sold it all and done it all over again.

David will argue that entrepreneurs don’t have a choice – business expansion is in their blood.

But what are the issues and obstacles to growth – are they real or imaginary?

David will outline his unique 7 step approach for achieving growth based on what the best entrepreneurs actually do and what any business can follow.

Issues abound around people, finance, company structure and the increasing importance of IT in enabling smooth scalable business expansion.

We’ll look at real companies and how they have overcome obstacles to achieve lasting success.

Supplier, customer acquisition and retention issues all need to be addressed. David will focus on companies he has personally helped to address these, and the other ‘pain points’ of business growth.

Infusing our IT and Business Infrastructure
- A Success Story from Oracle

Can modern day companies grow successfully without a solid IT strategy which is integrated into their business strategy?

Hear from an Oracle partner who will argue its becoming increasingly difficult.

He will focus on a real live business example where IT formed the backbone to business expansion.

All areas of a modern business are impacted by IT and the key is to integrate these areas in a seamless way.

How this company did this, the hurdles they faced along the way, the costs, issues and business benefits will all be laid bare.

You will leave this event with the inspiration and a little more know how of how to tackle your own business expansion issues.
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Chris White – CEO, merit Welcome to today’s event

House Keeping

Professor David Hall To grow or consolidate – do we have a choice? David Murray – Managing Director of Kirona Successful integration of IT and business strategy Today’s Presenters

TO GROW OR CONSOLIDATE - Do we have a choice? David Hall December 2006 In Association with

Why Growth? “ Fundamentally the purpose of business is to create wealth. This is achieved by growing the business” Richard Branson, Virgin

“ Fundamentally the purpose of business is to create wealth. This is achieved by growing the business”

Richard Branson, Virgin



 

Growth Opportunities ’ 95% of all the innovations in products and services world-wide over the last one hundred years have come from firms employing less than 20 people’. Source: New Venture Creation, J A Timmons

’ 95% of all the innovations in products and services world-wide over the last one hundred years have come from firms employing less than 20 people’.

Source: New Venture Creation, J A Timmons

The Growth Challenge Entrepreneurial Firms achievement culture Informal Trust Intuition Synthesis Ownership Autonomy Risk Taking Breaking the rules Corporate Business power and control culture Order Formality Planning Analysis Systems Bureaucracy Politics Rule Compliance

Entrepreneurial Firms achievement culture

Informal

Trust

Intuition

Synthesis

Ownership

Autonomy

Risk Taking

Breaking the rules

Corporate Business power and control culture

Order

Formality

Planning

Analysis

Systems

Bureaucracy

Politics

Rule Compliance

The Seven Step Approach to Successful Business Growth Get the right people on the bus. Develop a compelling vision. Get in shape. Create superior opportunities. Work on the business. Invest in your systems. Enjoy success!

Get the right people on the bus.

Develop a compelling vision.

Get in shape.

Create superior opportunities.

Work on the business.

Invest in your systems.

Enjoy success!

1. Get the right people on the bus Test Questions How often do your key people produce results beyond your expectations? 2. If you had a clean sheet of paper how many of your current teams name’s would be on the team sheet?

Test Questions

How often do your key people produce results beyond your expectations?

2. If you had a clean sheet of paper how many of your current teams name’s would be on the team sheet?

Headship Management Leadership

Headship

Management

Leadership

People: Action Pick the right people. “ Investment in selection beats training 1000 times over” Wyatt Woodsmall, Coach to USA Olympic Team

Pick the right people.

“ Investment in selection beats training 1000 times over”

Wyatt Woodsmall, Coach to USA Olympic Team

2. Develop a compelling vision Test Question Does your vision inspire you and your people to produce outstanding results?

Test Question

Does your vision inspire you and your people to produce outstanding results?

Vision: Action If you don’t have a vision describe the future of your business in ‘X’ years time as you want it to be. Make sure everyone in your business understands your vision and how they can add value to it.

If you don’t have a vision describe the future of your business in ‘X’ years time as you want it to be.

Make sure everyone in your business understands your vision and how they can add value to it.

3. Get in Shape Test Question How do you know you are as lean and mean as possible? Efficient Low cost Productive

Test Question

How do you know you are as lean and mean as possible?

Efficient

Low cost

Productive

Shape: Actions Conduct a ‘fixing system slippage’ project. Monitor and control the six key financial indicators.

Conduct a ‘fixing system slippage’ project.

Monitor and control the six key financial indicators.

‘ When I see a thick manual I know I am looking at a slow company that is struggling under excess baggage’ Tom Peters

‘ When I see a thick manual I know I am looking at a slow company that is struggling under excess baggage’

Tom Peters

4. Create Superior Opportunities Test Question Do you have any superior opportunities? High growth margin Defensible competitive edge Media and investor interest Very positive future profit potential

Test Question

Do you have any superior opportunities?

High growth margin

Defensible competitive edge

Media and investor interest

Very positive future profit potential

Opportunities: Action Use the PS/PS process to create superior opportunities.

Use the PS/PS process to create superior opportunities.

Problem Seeking – Problem Solving Find a lead customer. Appoint a project champion. Select the entrepreneurs within. Create an achievement culture. Go problem seeking. Turn problems into solutions. Sell the solutions to other customers.

Find a lead customer.

Appoint a project champion.

Select the entrepreneurs within.

Create an achievement culture.

Go problem seeking.

Turn problems into solutions.

Sell the solutions to other customers.

5. Work on the business Test Question Do you have an effective process for working on your business?

Test Question

Do you have an effective process for working on your business?

Work: Action Ensure your business team focuses efforts on actions that will deliver your vision. ‘ Working on the business normally produces results six times expectations’. David Hall

Ensure your business team focuses efforts

on actions that will deliver your vision.

‘ Working on the business normally produces

results six times expectations’.

David Hall

6. Investment in your systems Test Question Do your systems and processes provide competitive advantage to your business?

Test Question

Do your systems and processes provide competitive advantage to your business?

Systems: Action Share your business strategy with your IT resource and ask them to help you to use technology to gain and maintain competitive edge.

Share your business strategy with your IT resource and ask them to help you to use technology to gain and maintain competitive edge.

7. Enjoying success Do you really need me to tell you how to do this….

Do you really need me to

tell you how to do this….

To grow or consolidate – do we have a choice….

Good luck in growing your business! www.davidhalluk.com

Good luck in growing

your business!

www.davidhalluk.com

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