Reinventing Your Company For The New Reality

Making it Better Than it Has Ever Been

Presented ByJoel Strom

SEI – 7 GroupScottsdale AZMarch 20, 2010

WASHINGTON (MarketWatch) -- Federal Reserve Chairman Ben Bernanke said Tuesday that the recession has ended, at least based on the numbers.

That was a few months ago!

Associated Press 3/2/10 – Mixed reports Monday on manufacturing, construction, and personal income and spending…the recovery remains fragile…Manufacturing output expanded in Feb …fell short of economists’ expectations…

Construction spending fell for a third straight month in January…

The weak income growth could depress spending in the months ahead and weigh down the economy’s rebound…

The bulk of the upturn in manufacturing is behind us…many manufacturers are seeing hopeful trends

UNCERTAINTY RULES

The only certainty---Its different than it was

It will keep changingThere are new realities

New Realities bring New Opportunities

To Out-performTo Out-growTo Out-profit

To be better than ever

Taking advantage of your New RealityMay require

Reinventing Your Company

Adapt or Die◦The key to continuing to be a great

company (or becoming a great company) is adapting to your new reality

◦The key to going out of business (quickly or slowly) is to not accept your new reality

Economy Technology

Cultural

A Perfect Storm

Economy Technology

Cultural

The recession and the economy◦Changed the number of customers◦Changed who your customers are ◦Changed the resources of your

customers◦Changed the customers’ ability to

finance the things they cannot pay cash for

Technology◦Changing how we communicate◦Changing how we market◦Changing the way we live◦Changing how we produce and sell things◦Making it difficult to be on the cutting

edge and stay ahead of everyone else

Culture◦Changing what customers buy◦Changing how customers buy◦Changing where customers buy◦Lower prices have become the

expectation◦Saving vs. spending

Your New Reality is Your’sThere isn’t just one New Reality

Every industry and every company within that industry is facing their unique new

reality

So what can you do to take advantage of YOUR New

Reality and be better than you have ever been?

And beat the competition

First you need to know what your new reality is - so

Step 1Define YOUR new realityHow has your market changed

Are your customers recalibratingWhat are your customers buying (or not)

How are your customers buyingHow have customer expectations changed

Then--Think about what’s next

Then you need to know your own company – so

Step 2Assess YOUR company

Your competenciesYour strengthsYour resources

Your economic engineYour operating model

Your Reality Your Company

YourReinvention

Strategy

Step 3Reinvent for YOUR new reality

Connect the dots from Your New Reality to Your Company

Reinvention for Growth

Reinvention for Operational Excellence

Reinvention for Growth

Connect the dots From what the market wants todayTo what you provide and how you

provide it

Changing the view

4 Options for Your New RealityGrowth Strategy

New reality growth strategy Four options for growth

New reality growth strategy Four options for growth

New reality growth strategy Four options for growth

New reality growth strategy Four options for growth

A good bet for what’s next1. Continuing change in your market2. Continuous price pressures3. New sources of competition4. Continuing need for strong managed

growth5. Continuing need for improving the bottom

line

Reinvention for Operational Excellence

Connect the dots From what’s happening today and from what‘s

next To your operating model

No matter what YOUR new reality –11 Musts for Operational Reinvention

New reality operating strategy11 Musts for operational reinvention

1. Flexible, lean, and efficient2. Action oriented - Practice the 60% rule3. Trust your gut4. Innovation mentality5. Give them what they don’t know they

want6. Differentiation– everything is a commodity7. Leverage resources8. The best people - still 9. Create a great organization – strengthen

your culture10. Celebrate the opportunities - No Victim

mentality11. Focus on bottom line growth

THIS IS A TIME OF OPPORTUNITY!

To make it better than it has ever been

Download my presentation:www.slideshare.netwww.joelstrom.com

Joel StromJoel Strom Growth ManagementRenaissance Executive Forums4747 N 7th Street Suite 145Phoenix AZ 85014602-276-3033Joel@joelstrom.com

This presentation and all related processes ©2010 Joel Strom Ltd

Reinventing Your Company For Your New Reality

Making it Better Than it Has Ever Been

Presented ByJoel Strom

SEI – 7 GroupScottsdale AZMarch 20, 2010