Strategies for Growth: The Playbook for Success in 2011.

Because the competitive and financial landscape has changed so significantly over the past few years, businesses must change their model and reengineer operating processes to create sustainable entities and position themselves for wealth creation. 

Need proof that you need to change?

• 40% of the liquidity in the market is gone, meaning capital will come primarily from operating EBITDA and institutional investors.
• Reliance on traditional “feet on the street” sales models are not supported by institutional investors and are considered “old school”. A Portfolio of both Alternative Distribution and “Products” is required to receive debt or equity from institutional investors.

The Playbook for Success in the New Economy requires effective Management Science to ensure timely execution.

Step 1: Identify Where You Are

Ask yourself: What are the new realities facing our business? What is success for us?
This economy requires fundamental strategy and business model changes to succeed.

Step 2: Reengineer your Offerings

• Focus & depend more on processes and less on people.
• Don’t do it all on your own! Leverage outside expertise.
• Invest in your Leadership Skills as success will be all about Roles, Goals, Agendas, and Achievement.
• Have a Workforce Plan & Management Process.
• Never accept mediocrity: Mediocrity is the Enemy!

Step 3: Reengineer your “Go-to Market” Techniques

Business models that are dependent on “Feet on the Street” are “Old School.”  Companies that use the following marketing best practices generate 5.2X more results.

• Set Revenue Objectives for all personnel, vendors, partners and make marketing directly accountable for sales, including consequences for underperformance. If you cannot measure it then don’t do it!
• Think like your customers. Understand and develop Buyer Personas and Message Maps that answer the questions: Why change? Why now? Why us?   Be in the mind of the client.  Senior executives have to not only focus on and understand their customers, but must change the businesses’ mindset from a product centric to a buyer centric approach.
• Maximize the time the entire team has to sell (not just sales staff). Do lead routing, nurturing and sales support in real-time, utilizing tracking scripts and CTAs (call-to-actions) to drive tactical results. Most companies have these capabilities, but simply do not understand how to deploy and utilize them.

Read more about improving your business model, operating performance and creating wealth:

• Planning for 2011
• Strategies for Growth in 2011
• Creating and leveraging Marketing Assets Drives Sales.

While 2011 poses many challenges, significant opportunities do exist for growth through innovation and investment. Nimble businesses that can respond and change to effectively reposition and compete differently will win. 

In 2011, how will you make sure your business takes advantage of these opportunities?

Comments

[Natalie Loopbaanadvies]

Perhaps I need to revisit successes and opportunities that came this year. From there, I have to challenge my team, accept changes and take risks. Opportunities are there for us to grow.

[nfl jersey]

While 2011 poses many challenges, significant opportunities do exist for growth through innovation and investment. Nimble businesses that can respond and change to effectively reposition and compete differently will win.