The BIG Breakfast

Key Strategies for Running a Highly Successful Business

John Spence

I will not waste one minute of your time…

• I have a ton to cover and I will go pretty fast.• Please take lots of notes and work hard.• There will be 15 minutes of Q&A at the end.• I am happy to answer any of your questions, offer advice

and recommend books at any time after this session.• John@JohnSpence.com

The slides are already posted at:

www.SlideShare.net/johnspence

A few of my clients:

For the past 21 years…

What does this mean to me?

How can I use this idea?

What can I do right away?

I am NOT a guru…

To get the most from our session together…It is absolutely critical that you be brutally honest with yourself today.

3

So let's get started with a little self-test…

1. Vivid Vision

A clear, vivid, compelling and extremely well-communicated vision of where you are trying to take the organization.

Let’s get clear on the terms:

Vision: WHAT we want to be when we grow up.

Mission: WHY we are doing what we are doing.

Values: How we expect everyone to behave.

Guy Kawasaki

Your vision statement should

be like a mantra, a simple phrase that can be repeated over and over to keep everyone focused

on the goal.

Two good mantras…

“A computer on every desk.”

“We’re here to put a dent in the universe.”

A superior TEAM that delivers real value

through elegant SOLUTIONS for

their customers and looks for appropriate

GROWTH opportunities.

The key to an effective vision:

Over-communicate

2. Robust Communication

Honesty

Transparency

Courage

Vulnerability

The 4 key elements of robust communications

3. Best People

Talent

Anne MulcahyCEO of Xerox and the third most powerful woman in the world!

1. Build a network of great relationships with people who want to see you succeed.

2. You don’t have all of the answers, so ask for help and advice from the smartest people you can find.

3. Learn to be a learner.

4. Listen intently to your employees and to your customers.

Some really great advice…

How do you define talent?

• Highly Competent• Impeccable Character• Excellent Communicator• Positive Attitude • Creative /Innovative• Risk Tolerant• Strong Drive• Solid Team Player

• Lack of TRUST• Lack of candor• Lack of commitment• Lack of accountability• Lack of results

Competence

RespectDistrust

Affection TRUST

HIGH

LOW

LOW HIGH

Concern

The 4 C’s of Trust

4. Sense of Urgency

You must create a culture that…

• Rewards fast action-taking

• Punishes barriers

• Embraces change

• Encourages risk taking

• Accepts failure

• Empowers everyone…

4-Level Decision Making

1. You own it.

2. Ask for input… you own it.

3. Team decision… I own it.

4. My call… I own it.

5. Disciplined Execution

10 – 15 %

What Inhibits Execution?National Survey of 4,000 Senior Executives

4. Inability to work together (21%)

3. Company culture (23%)

2. Economic climate (29%)

1. Holding onto the past / unwillingness to CHANGE (35%)

In other words…

• In order to succeed you need a high-performance team that embraces a strong culture of disciplined execution and accountability while being nimble, agile and adaptable to changes in the marketplace.

Where are we going andhow will we behave on the way?

FocusDifferentiation“No”

Guiding Collation

Vision + ValuesStrategy

ObjectivesInitiativesPrograms

Procedures / ProtocolsRepeatable ProcessClear / consistent / relentless

Training +time / money /

supplies / people

Measure / TrackCommunicate

Transparency Accountability

Celebrate SuccessEliminate Mediocrity

6. Extreme Customer Focus

VOC

A few good quotes…

• “We are not in the coffee business serving people… we are in the people business serving coffee.” Howard Schultz, CEO – Starbucks

• “We took our eye off the ball and it damn near put us out of business. We forgot that the customer pays ALL the bills. We are here to serve them, help them, support them. Not keeping that at the front of our minds almost cost us everything.” Lou Gerstner, CEO - IBM

• “The very future of our company hinges on our ability to understand and serve our customers better than any other firm. It is all about customer service, the products are actually secondary.” Jeff Immelt, CEO – GE

• “The only critic whose opinion counts, is the customer” – Mark Twain

Things have changed…

2008 2010

It used to be…

Good Cheap Fast

Now you MUST deliver…

• The highest quality…• At the lowest possible price…• Immediately --- or sooner…• All while giving consistently superior

customer service for an outstanding “Total Buying and Owning Experience.”

Master the first five… and then focus them on number six!

The Evergreen Project

10 year study of 160 top companies

40 distinct industries

200 management practices

Winners, climbers, tumblers, losers

Winners had an average Total Return to Shareholders of 945%...

The Losers only averaged a TRS of 62%

The Four Primary Practices:

1. A sharply focused, clearly communicated and well-understood strategy for growth.

2. Flawless operational execution that consistently delivers the value proposition.

3. A performance-oriented culture that does not tolerate mediocrity.

4. A fast, flexible, flat organization that reduces bureaucracy and simplifies work.

The Secondary Management Practices:

• Talent = find and keep the best people.• Key leaders show commitment and

enthusiasm for the business.• Embrace strategic innovation.• Master the power of partnerships.

Score yourself on the 1–10 scale for all eight practices on page 6

Read Pages 7 & 8

Workshop page 9

THANK YOU

If you have any questions at all please do not hesitate to send a note or call. My email address is: john@johnspence.com

Also, you might find value in the ideas I share in my blog. You can sign up for it at:www.blog.johnspence.com

Lastly, these slides have already been uploaded to:http://www.slideshare.net/johnspence

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