Archives for category: Planning

Town planning is a tricky but fascinating thing, isn’t it?

When you think about your own town or city, is it new or old? Has it grown organically or in a more structured way? Can you easily get where you need to get to, and out again? What’s the transport infrastructure like for public and private travel to a big event?

I live in a small town and I work from home a fair bit, so my measure of how well a town has been planned is how quickly I can get to strike all the errands off my list at lunchtime. You’d be surprised at how much you learn about traffic flows, parking, accessibility if you’ve only got 20 minutes and 3 different places to go.

My town is well served by trains, but not well served by bridges, which means it’s well served – if that’s the right word – by train barriers to block pedestrians and vehicles while the train traverses the road to get from A to B. The upshot of this is that it’s not uncommon for you to be caught for 5 minutes at a barrier both on your way into town and out of town. If you’ve 20 minutes for errands, driving or walking, you’re stationery for half of it in this scenario. Your alternative is a long detour round the town’s medieval and therefore maddeningly narrow one-way streets to use the one railway bridge.

We have loads of train advocates in our area, and it does provide an important link to the east and west of the country. I’m not sure, however, if those advocates factor in how it plays with the other 2 modes of transport, especially at lunchtimes when you’re under pressure.

Advertisements

“Daur “Hockey” Sticks” by Gary Lee Todd, Ph.D. is licensed under CC PDM 1.0

I’ve been in business for a good 30 years or so. For most of those years I remained confused about a phrase that a lot of my North American colleagues used.

‘We’re looking for hockey stick growth,’ they would say, ‘that elusive hockey stick growth curve.’ This image always left me flummoxed. After all, who wants to see a massive downturn in growth before you see the upswing? You might not survive the downturn…

I finally realised that I wasn’t thinking about the right hockey stick. In fact I was thinking about the right hockey. Hockey, or ‘Ice Hockey’, to give it its full name, is hugely popular in North America, and has a flat bottom part and then bends up in a straight line, the sort of sales growth envied the world over.

In Europe, hockey is field hockey, not anywhere near as popular in North America, and uses a differently shaped stick with a curved part where you hit the ball. Not the shape you want for sales growth…

Confusion over!

The goal of underlying sales and marketing technology is that it is the slave, not the master, to your organisation. Automating your processes will enable you to embed and reinforce best practices throughout your organisation. The collection and inputting of good data and managing interactions for the complete customer journey will ensure you have visibility into your organisation, give you the insights to do accurate business planning and allow you to demonstrate your compliance.

Customer Relationship Management (‘CRM’) systems fulfil these responsibilities for your organisation. They are the machine to power your business, but are limited by the fuel you give them – in this case the quality and accuracy of information you import, enter and store. You can customise many CRM systems to suit your own business processes. You can also enhance them by integrating additional specialist software from third party organisations.

The CRM industry is extremely cluttered and competitive. There is a vast array of CRM systems, which vary appreciably in cost, functionality, reporting, flexibility, ease of use and size of their third party software ecosystem. It’s important to select the system which offers the best fit to your requirements and the long term vision you have for your organisation.

These 8 aspects will give you a solid structure to define your technology requirements, before shortlisting the alternative providers:

  • Your objectives for the technology
  • The functions within your organisation
  • The tasks you want to automate
  • The information you want to record
  • The metrics you want to measure
  • The users you want to enable
  • Their requirements
  • Your budget to accomplish these things

Think about your requirements as deeply as you can before you take the plunge. Companies often find that once they start using an implemented system there are additional things they didn’t think about that would have further influenced either their choice of system or how they customised and implemented it.

I carried out a detailed study in pubic transport the other day. Actually, it wasn’t that detailed, it was a data point of one, one journey.

I went to visit my mother, who lives near Bristol in England. I live near in Galway in Ireland. It’s perhaps 300 miles as the crow flies, if even a crow can fly that far, except that there’s the Irish Sea in the way.

I had decided to go via public transport, rather than a car. Normally I would drive to the departing airport and hire a car from the destination airport. The public transport option was cheaper and better for the planet. It would simply cost more of my time, a very precious commodity as far as I’m concerned, but there you go.

These were the legs of the journey:

  • Walk to local train station, 10 minutes
  • Train to Galway, arriving 45 minutes before coach trip to airport
  • Coach from train station to airport, supposed to take 95 minutes, but took nearer 120
  • Arrived at departing airport 2 hours before flight
  • Flight to Bristol airport (1 hour)
  • Bus to Bristol city centre (wait 10 mins, 30 minutes journey)
  • Bus to my mother’s neck of the woods (no wait, 45 minutes journey)
  • 10 minute walk to mother’s house

Total elapsed time via public transport: 10 hours exactly

Total elapsed time if I was driving both ends: around 5 hours

I think 10 hours is far too much to travel from one neighbouring country to another. So do most other people I guess, judging by the amount of people who, if they have access to a car, take one.

 

 

It’s the start of a new half year! Where better to begin than with the job of figuring out what makes your ideal buyer tick? A customer or buyer persona is a collection of the characteristics common to buyer types in your target organisation. Figuring out your personas allows you to market to many like-minded individuals with the same messaging. This is in stark contrast to when you have a specific customer in mind – effectively a market of one organisation – because then you can message directly to that person, rather than to the persona construct.

Crucially, there may be more than one buyer persona you need to engage with in your target customer: lifestyle people; money-makers, corporate ladder-climbers; business heads, finance people, procurement. These personas may well fulfil multiple or different roles in the decision-making unit of your target organisation: decision-makers, budget-holders, influencers, users, and other staff.

You should gear all of your marketing and messaging to your personas, and adapt it to each persona. Framing your personas comes from research, which might be based on quantitative or qualitative information. Where to go for that information? It’s what you already know, it can come from interviews, calls, or meetings, from your sales teams, or from your customer database.

I’ve found the following list of headings to be useful when building a persona:

  • About them: gender, age profile, education, family, job role, experience?
  • Personality: approachable or aloof, prefers emails to calls, passionate, dispassionate?
  • Goals: commercial, personal, emotional?
  • Challenges: resources, politics, regulation, competition?
  • Hangouts: where do they go for their information? Websites, social media? You need to be where they are…
  • What can you do for them? Help them hit which goals, meet which challenges, be recognised?
  • Objections: what might stop them working with you? Time-pressured? Locked in to a supplier?
  • Message: how might you best message to them? Productivity, growth, compliance, morale?

Giving each persona a name, even a picture, and hanging their profile on a wall will keep them front and centre.

Are you in the 90% or the 10%? 90% of the organisations I’ve worked with were focused on their organisation and their products and services. In their calls, meetings and presentations they led with themselves and what they do. This is the wrong way round. Your prospects and customers are not interested in you, or what they do. They are interested in solving their problems and capitalising on their opportunities. What’s in for them? That’s your guiding star. When you start with yourself, it’s too hard for them to see the return on this investment of their time.

10% of organisations are market-led. Everything they do stems from the markets they’re serving and the target customers they’re trying to sell to. They earn the right to tell customers about themselves once they have demonstrated their knowledge of the market and their experience making similar organisations more successful. They lead with the market and the customer, and follow up with why they make organisations better. In their calls, meetings and presentations they start with their customers, and finish with themselves and how they can make the difference.

Customers are organisations filled with people like you and me. How you define and segment your market, your organisation’s business model and its routes to market are governed by the personas or specific people you’re targeting. They drive everything you do and you must maintain this mind-set – and stay in the 10% – to stay close to why your organisation exists.

In this last post in the series on scaling a business, we look at the checklist of ’10 Rockefeller habits’. Once more I borrow from the Growth Institute in this fascinating piece on how the 10 habits of the fabled businessman are the only framework you need to scale your business.

Working from the principle that success comes from the combination of goals and discipline, and you must have both, rather like strategy and execution, the article provides a detailed description of the 10-item Rockefeller habits checklist, which I summarise here:

  1. The executive team is healthy and aligned
  2. Everyone is aligned with the #1 thing that needs to be accomplished this quarter to move the company forward
  3. Communication rhythm is established and information moves through the organisation quickly
  4. Every facet of the organisation has a person assigned with accountability for ensuring goals are met
  5. Ongoing employee input is collected to identify obstacles and opportunities
  6. Reporting and analysis of customer feedback data is as frequent and accurate as financial data
  7. Core values and purpose are “alive” in the organisation
  8. Employees can articulate the key components of the company’s strategy accurately
  9. All employees can answer quantitatively whether they had a good day or week
  10. The company’s plans and performance are visible to everyone

These habits only truly come alive when you read the narrative and case studies that amplify them, so refer to here for the valuable detail. You’ll get the how to implement and who should implement that will send you on your way to scaling a business successfully.

 

This post continues the series on scaling a business, this time defining the exponential organisation. An exponential organisation is a company that scales rather than grows. In other words it grows at an exponential rate – d’oh!

Jacob Morgan covers how to create an exponential organisation and why you would want to in this excellent piece. He leans heavily on the work of the innovator Samil Ismail, one of those lucky souls who can find his first name in his last name…

Ismail’s research into exponential organisations leads him to identify ten commonalities in companies successfully hitting the stratosphere.  Five factors are external, and five are internal.

The five external factors equal the word SCALE:

  • S, staff on demand
  • C, community and crowd
  • A, algorithms
  • L, leased assets
  • E, engagement

The five internal factors spell the word IDEAS:

  • I, interfaces
  • D, dashboard
  • E, experimentation
  • A, autonomy
  • S, social

To find out more about each factor, and what combination of them would suit your ambitions, have a deeper look at the article.

 

In this second in the series of posts exploring scaling the business, let’s look the differences between growing the business versus scaling the business. What better source of authoritative information than this piece from the Growth Institute.

There are some fantastic insights in this piece. Here are just three of them:

  • Companies that scale successfully don’t set out to grow their business, they build it for scale from the outset
  • A scaling company grows at twice the industry average but its expenses are roughly the same
  • When I was at business school, a company’s growth was a series of steps, where you go through a plateau period before you slingshot up the next level. Nowadays the scaling curve is a series of ‘valleys of death’ through which each company must pass in order to dominate its industry

The Growth Institute identifies four scaling stages:

The percentages of companies that make it through each of these stages are horrifically small, so if you’ve got scale-up ambitions it’s important to go in eyes wide open, and also read the Growth Institute piece, and the ‘how to navigate’ guide, in more detail.

Recently I wrote a short post about scale-ups and scaling a business. Now I’m going to start a short series that continues the theme of scaling.

If the trend watchers are to be believed, the start-up and dot com has had its day. Maybe that term is a little out of date these days, since the emerging start-ups of today all seem to be dot ai anyway. Apparently it’s all about becoming a larger sustained company now, while also avoiding being copied, outdone or annihilated by the likes of GAFA: Google, Apple, Facebook, Amazon.

But if you want to catch the wave and forge something that lasts, what technology bandwagon should you be hitching a ride on? This piece from PWC explores in detail what they see as the eight essential emerging technologies.

The eight technologies are:

  • Artificial intelligence
  • Augmented reality
  • Blockchains
  • Drones
  • Internet of Things
  • Robotics
  • Virtual reality
  • 3-D printing

The thing that makes this tricky for start-ups is that you need boat loads of cash to dominate them. They’re not a niche that you can easily protect.

The PWC article groups these eight technologies into five converging themes:

  • Embodied AI
  • Intelligent automation
  • Automating trust
  • Conversational interfaces
  • Extended reality

For information on which technology or theme you can embrace to harness your scale-up company ambitions, see the article.