Strategy Execution Newsletter

Strategy Execution Newsletter

What is Your Customer Value Discipline?

Marc L Daniels — 1 June, 2021 

A customer value discipline is more than just a benefit statement—it is a statement of strategic focus. It provides a context for a company to set its corporate vision and objectives, target its most profitable customers, and focus and align its activities.

Value discipline is the way you provide value to your target customer. It becomes the skeleton of your strategy. You choose value discipline based on your ideal target market customer and what they value the most. There are three primary generic value disciplines:

 — Product Leadership
 — Customer Intimacy
 — Operational Excellence

You must know what game you're playing—if you try to be everything to everybody, your marketing strategy will be too broad, and your marketing spends, and support costs will be high. Lack of Focus will doom you to mediocrity. 

A lack of focus when Lack of Focus will doom you to mediocrity. 

But when you have a value discipline, you will have a competitive advantage. 
More about Value Discipline—

Product leadership: This is defined by products that add value to customers. An excellent example of product leadership is BMW. When you hear that name, you immediately identify it by the quality cars the company produces. BMW is a leader in putting together well-assembled cars. 

When you choose this Value Discipline, your focus is on Innovation.
State of the art products and services, high investment in research and development, create new categories, performance leadership, brand marketing, speed to market, high margins in a short time frame before fat followers can replicate, continual reinvention.

Customer intimacy: This is something that provides extensive, specialized service to you. It might be your doctor's office. It might be a local gym that works on building an intimate relationship with the customer. 

When you choose this Value Discipline, your focus is on EFFECTIVENESS
Deep understanding of customer needs, develop customized products and services, unique solutions, higher prices, close relationships, high touch customer service, decentralization.

Operational excellence: This described the execution of a business strategy that is consistent and reliable. Amazon and FedEx are great examples, as you know what to expect from both.  

When you choose this Value Discipline, your focus is on efficiency,
consistency, lower-cost structure than competitors, cost control streamlined processes, lower prices, supply chain management, no-frills, large volumes, reliability, speed, replicable at scale, and centralization.

You must know what game you're playing—if you try to be everything to everybody, your marketing strategy will be too broad, and your marketing spends, and support costs will be high. 

You will do far better if you narrow your focus. You should determine your best value discipline based on your ideal target market customer and what they value the most!

Know Your Target Market

Marc L Daniels — 26 May, 2021 

 "There's only one winning strategy. Carefully define your target market and direct a superior offering to that target market."  
                                                                                             — Professor Phil Kotler 

After you have formulated your vision, which includes your where, why, and who— the next step in putting together a sound strategy is defining or refining your target market.  

Your target market customer is the most crucial component of a strategy because it provides context for putting together the balance of your strategy. Successful companies focus their marketing efforts to appeal to and serve a specific target. At the center of your marketing is what I call a bullseye—it's the sweet spot you aim for with all your product and service design in marketing communications.

Now, it doesn't necessarily mean that you'll only sell to these people, but they are whom you're going to target your product and service offerings to. Once you define your target market customer, your market endeavors will be much more effective. 
As quoted above, Professor Phil Kotler from the Kellogg School of Management said: "There's only one winning strategy. Carefully define your target market and direct a superior offering to that target market." 

And that's where I recommend you start. If you want to win, you're going to have to aim for the center—narrow your focus. If you go too broad, you'll be advertising to the masses, and it's very challenging to build successful business advertising for everybody. You want to delight the few to attract the many. So, it's crucial to start with and get extremely clear on who that target market customer is. 

When you have a clearly defined target market, your product, service, and offerings have much more clarity and focus. In other words, you know exactly whom you're building or servicing. When you have a clearly defined target market, your marketing communications are more effective, and you know exactly whom you're talking to. When you have a clearly defined target market, your customer or prospective customer perceives you as an expert at meeting their needs. They say, "This company's talking to me," and they're much more likely to choose you. 

So if you have not recently thought about your target market as we exit the pandemic, now is an excellent time to revisit it. Your marketing spends will be more efficient and profitable, and your entire business strategy will fall into place as you get your target market tightly defined.

The Vehicle of a Plan

Marc L Daniels — 19 May, 2021 

""Our goals can only be reached through the vehicle of a plan. There is no other route to success." — Pablo Picaso

Picasso was not known as a business writer, but he started every painting with a plan. He would start by writing down the message (or vision) that he had for the painting. Picasso believed that once he envisioned a painting, having a plan was critical to creating a masterful piece— there was no other route. Moreover, it is much the same in business. There is no other route, except to have a plan.

So many companies do not get past their vision and never put together a strategic plan to execute their vision. How do you put together a strategic plan?
Once you have a clear vision, which consists of; where you want to go, your core purpose, and your core values, it is time to put together a Strategic Plan to make your vision a reality.

A vision without a strategy remains just a dream. The major components of a Strategic Plan include:

1) Refining your Target Market 
2) Defining your Value Disciple, 
3) Your Key Benefits
4) Your Brand Promise
5) Strategic Positioning Statement
6) Identify Core Activities and Non-core Activities. 
7) The Five Competitive Forces Analysis  
8) The PEST Analysis 
9) The SWOT Analysis 

Nine components—sound overwhelming? It does not need to be. Simply take each of these components one at a time; they layer on top of each to create a robust strategic plan that will inspire your team and allow you to recognize success and growth!

Follow my weekly blog over the next 9 weeks as I lead you through each step.  
 See the sidebar to subscribe ➡

Get Radical 

Marc L Daniels — 12 May, 2021 

"When I say I believe in radical truth and radical transparency, all I mean is we take things that ordinarily people would hide, and we put them on the table, particularly mistakes, problems, and weaknesses. We put those on the table, and we look at them together. We don't hide them."                                                                                                                       — Ray Dalio

Radical transparency is a term first coined at Harvard Business School two decades ago. It simply means that when everyone knows what is going on, they are happier, work together better, and achieve superior results. Try it in any aspect of your life. When your partner knows what's going on, your relationship is better. You're happier, work together better to solve your problems, and achieve a superior relationship.

Stop Chasing Rabbits!

Marc L Daniels — 6 May, 2021 

Why do so many companies fail to at Strategy Execution?

Commonly, the threats to Strategy are from outside a company, often as reactionary steps taken to most off competitors or changes in technology.

While frequently from outside, the more significant threat typically comes from within. A sound strategy is undermined by staff as they take misguided stances against the competition, organizational failures, and the pressure to grow revenue. 

How do you avoid these two common reasons for the failure to execute your Strategy? You stop chasing rabbits! 

Catch the Wave!

Marc L Daniels — 29 April, 2021

Some big waves are coming!

Consumers worldwide have amassed an extra $5.4 trillion in savings since the coronavirus pandemic began, setting the stage for a spending boom that could power a substantial uplift in economic growth this year.

On top of the consumers, governments are pumping recovery funding into their economies. We are about to see an unprecedented period of spending.

Do you have a strategy in place for your company to benefit from the upcoming spending boom?

Over my 40+ years of business, my greatest successes have always occurred after a significant financial downturn. My growth after past financial crises; 3 to 80 million, zero to 300 million, 6 million to 941 million, yes, all made possible by identifying an emerging trend during a downturn and leveraging it!

The challenge is to find those opportunities and jump up and ride that wave. Unfortunately, these trending opportunities will only exist for a brief period until they are gone. You must identify them quickly and put a strategy in place to leverage them.
Learn how to identify these once-in-a-lifetime opportunities in my upcoming 
 Catch the Wave! - FREE Workshop:

 - 12th of May in Australia & New Zealand
 - 14th of May in United Kingdom & Ireland
 - 14th of May in United States and Canada

Measure What Matters

Marc L Daniels — 22 April, 2021 

Most companies measure outcomes...this is a mistake. To drive the results you are looking for; you need to track leading metrics.

If most of your dashboard numbers have currency symbols with them ($-£-€), you are most likely not measuring what matters.  Results are important, but you can not manage Results. What you can manage are the activity and effectiveness measures that drive those results. 

What Metrics should you measure? Metrics are what you use to measure the critical success factors that drive your present operating model; they drive business as usual and can improve what is.

How do identify powerful Leading Metrics?

Pandemic Recession Recovery Strategy

By Marc Daniels — 30 March, 2021

Is it time to put together a strategy for a Pandemic Recession Recovery?

Harvard Business Review, after the last financial recession of 2008/2009, did a study. It looked at companies in the three years after the financial crisis and there were some startling key takeaways:
 — Seventeen percent of the companies didn't survive the recession. 
 — Three years later, 80% had not yet regained their prerecession growth rates for sales and profits.
 — Only 9% flourished after the recession.

Who flourished after the recession?
 — Firms that cut costs fast and deep? - NO
 — Firms that outspent their rivals during the recession? - NO

Who did well?

It's Not Too Late!

By Marc Daniels — 23 March, 2021
The Bad News: Only about half of small businesses survive past the five-year mark, ranging from 45.% to 51%. Five years of hard work, money, and dreams are all gone, five times out of 10.

Beyond that, only about one in three small businesses get to the 10-year mark and live to tell the tale.

There's a particular reason for every failure, but they mostly ripple back to one underlying component, the lack of a strategic business plan. 

Procrastination kills businesses. But as the title of this article reads.. "it is not too late" read on to hear the Good News....

Share Your Plan and Engage Your Team

By Marc Daniels — 17 March, 2021
If you are based in New Zealand, you are most likely in the process of putting together a strategic plan for your company's next fiscal year. Elsewhere in the world, you have hopefully completed the assembly of your strategic plan. Regardless, you've invested in an enormous amount of internal resources. You spent days in sessions with your key management team to assemble your plan.

What I find most disturbing is how often this effort fails, not in determining a business's path forward but in not disseminating the information broadly and effectively to all the organization members, especially those who were not part of the decision-making team. To execute your plan, you have to share your plan and engage your team!

The first step in engaing your team is driving acceptance and agreement of your new strategic plan with your wider executive and management team. The second step is to elevate engagement and participation company-wide—a communication plan must be created and rolled out to everyone. 

Plan or Fail 

By Marc Daniels — 10 March, 2021
"He who fails to plan is planning to fail" — Winston Churchill.

This is perhaps the most overused quote of Strategic Planning Consultants around the world. I myself have stated it hundreds, if not thousands of times. Why is it used so frequently? Because it is real. To validate Winston Churchill's words, I have gathered facts from several published studies.

Only 20% of companies have a strategic plan, and as a Harvard Business School study also showed, 85% of those companies fail to execute their strategy. That means that out of 100 companies, only 3 will have a strategic plan and successfully execute their strategy.

Facts show a plan is critical to your success!

Inspired Employees Make for Stronger Companies

By Marc Daniels — 3 March, 2021
What is a Core Purpose? — It's a compelling reason for employees to work for you beyond simply making money. It provides meaning for all the work that they and you do, and it keeps them going, even through tough times. It transcends whatever your current product or service offerings may be and speaks to your organization's passion. It speaks to the difference you want to make in the lives of the people it touches and the difference you want to make in the world. 

Leverage Your Core Values to Build a Dream Team 

By Marc Daniels — February 16, 2021
Core values are the behaviors that define you, your executive team, your employees, and your entire culture. They become clear statements on how you expect every person in your organization to act, regardless of their role. They're going to provide a moral compass for your people and help the staff make the right decisions, regardless of the challenges they might face.

Published weekly, the ResultsBI Strategy Execution Newsletter provides executives with guidance on strategic planning and successful execution. Feature special offers and info about upcoming Results BI Strategy Execution Workshops.

UPCOMING EVENTS

STRATEGIC PLAN Challenge

June - It's that time of the year again in Australia, planning season for your next fiscal year. This 4 day challenge starts on Tuesday, 14 June, only 1 hour per day and you will have your a strategic business plan in place for 1 July - make fiscal 2022 a year to remember!

Invite your entire excutive team!

Share Your Plan and Engage Your Team

By Marc Daniels — 17 March, 2021
If you are based in New Zealand, you are most likely in the process of putting together a strategic plan for your company's next fiscal year. Elsewhere in the world, you have hopefully completed the assembly of your strategic plan. Regardless, you've invested in an enormous amount of internal resources. You spent days in sessions with your key management team to assemble your plan.

What I find most disturbing is how often this effort fails, not in determining a business's path forward but in not disseminating the information broadly and effectively to all the organization members, especially those who were not part of the decision-making team. To execute your plan, you have to share your plan and engage your team!

The first step in engaing your team is driving acceptance and agreement of your new strategic plan with your wider executive and management team. The second step is to elevate engagement and participation company-wide—a communication plan must be created and rolled out to everyone. 
First, provide an overview of the company's history, the previous quarter's results, and the upcoming quarter's major initiatives. Call a company-wide meeting every quarter focused on communicating your organization's strategic plan, either for the entire year or for the upcoming quarter. Introduce the group of people who were involved in putting together the strategic plan because you want them to know that this isn't just coming from the CEO and the CFO. You want to introduce the people that you've included as part of this process.

During the meeting, describe the basic principles of your strategic plan, as well as any new terms or definitions of terms. Show your team how strategy has played a part in the past growth of the company. They have to have a firm understanding that your company has put together strategies that it executes to success, unlike your competitors. In fact, over 75% of companies never put together a strategic plan at all. When you have no plan, you plan to fail. The more the staff and the employees truly understand what the plan is, the more buy-in you'll receive from them in the end. 

Provide key elements of what has led to your growth, the challenges you've incurred in the past, and how that has informed or helped guide you towards providing future direction.     
   
Clearly describe the company's strengths and weaknesses with specific examples, even if it involves mentioning the competition or calling out things that the executive team felt were weak within the company.  

This year is a greatly different year for most companies around the world. A successful year of recovery is a must for most. If you are carrying out your plans in a different fashion, you should communicate clearly that you've taken a new approach or have reworked the plan from the ground up. If you're not specific on how this year is different, you might have a tsunami of resistance against it before you've even begun. So, get ahead of the resistance by naming the difference—this will really help connect the employees to the plan.

Describe in detail how this strategic plan differs from the ones in the past. In other words, describe all the steps you've gone through that have gotten you to this point. Describe the SWOT Analysis (Strength, Weaknesses, Opportunities, and Threats. Making connection points with employees will give them a mental place to store the information you're sharing. Many companies are disconnected from their employees, and it directly impacts employee management, engagement, the ability to hold them accountable and drive execution.

Describe the plan. Start with your vision, which includes, of course, your BHAG, your core purpose, what you're trying to achieve as a company, and core values. Dive into your core values in detail—if they've differed from the past, spend a lot of time on them now. If you're restating your core values, give them more context. Explain what barriers could arise to prevent your organization from achieving its vision.

Outline the three major strategic projects that the company has chosen for this quarter and the barriers that might prevent your organization from achieving these strategic objectives. Outline the metrics that you'll be tracking to ensure that you're achieving your strategic project's execution. Remember, a strategic project has to be measurable—it can't be vague. You have to have a way to measure its success, such as with key performance indicators or KPIs. (Some methodologies call them OKRs, objectives with key measurable results or OKRs, but they are essentially the same thing.)

Finally, remember that all employees have a different level of understanding. They come from different walks of life and are filling different roles within the company. Your plan needs to be described simplistically, as does every aspect of it so that everybody clearly understands what you're talking about. I've seen strategic plans that get way too technical for rolling out at a company meeting—you're not talking development, accounting, or legal jargon. You need to put things in layman's terms so that everybody understands. 

Share your plan and engage your team; it's the first step to ensuring you execute your strategy!

No Plan Yet? - It's not too late. See the sidebar for more information about upcoming Strategic Planning Master Classes - A Strategic Plan for your company in just 5 Days 

                                                                                           See the sidebar to learn more →

Plan or Fail 

By Marc Daniels — 10 March, 2021
"He who fails to plan is planning to fail" — Winston Churchill.

This is perhaps the most overused quote of Strategic Planning Consultants around the world. I myself have stated it hundreds, if not thousands of times. Why is it used so frequently? Because it is real. To validate Winston Churchill's words, I have gathered facts from several published studies.

Only 20% of companies have a strategic plan, and as a Harvard Business School study also showed, 85% of those companies fail to execute their strategy. That means that out of 100 companies, only 3 will have a strategic plan and successfully execute their strategy.

Facts show a plan is critical to your success!

Inspired Employees Make for Stronger Companies

By Marc Daniels — 3 March, 2021
What is a Core Purpose? — It's a compelling reason for employees to work for you beyond simply making money. It provides meaning for all the work that they and you do, and it keeps them going, even through tough times. It transcends whatever your current product or service offerings may be and speaks to your organization's passion. It speaks to the difference you want to make in the lives of the people it touches and the difference you want to make in the world. 

Leverage Your Core Values to Build a Dream Team 

By Marc Daniels — February 16, 2021
Core values are the behaviors that define you, your executive team, your employees, and your entire culture. They become clear statements on how you expect every person in your organization to act, regardless of their role. They're going to provide a moral compass for your people and help the staff make the right decisions, regardless of the challenges they might face.

Published weekly, the ResultsBI Strategy Execution Newsletter provides executives with guidance on strategic planning and successful execution. Feature special offers and info about upcoming Results BI Strategy Execution Workshops.

UPCOMING EVENTS

Special New Zealand 
Strategic Planning Masterclass 
22 to 26 March @ 10 am NZT 

March - It's that time of the year again in New Zealand, planning season for your next fiscal year. 5 days, only 60 minutes per day and you will have your a strategic business plan in place for your 2021-2022 Fiscal Year

Invite your entire excutive team!
Over 5 Days, just an hour a day we review the 15 critical components of assembling of a strategic plan. 

Includes 90 Days FREE Access* to the ResultsBI software, where we will assemble your company's strategic plan plan. Using it's robust execution tools you will drive employee egagemnent and th execution of your startegy.
* Access for upto 10 users

Special 4 Day
Pandemic Recovery 
Strategic Planning Masterclass
March 29 to April 1 @ 2 EST 

The year is already 25% behind us. With vacines being administered around the world, and money being pumped into economies we are about to see an amazing period of opportunity and rapid growth.Every finacial crisis crates a vacuum and in that void amazing opportunities are created.

This special 4 day Strategic Planning Masterclass (4 days - only 60 minutes per day) will focus on recasting or creating a startegic business plan to leveareg emerging post pandemic trends. Ensure the remaining 75% of the year drives the succesful yart you need!

Includes 90 Days FREE Access* to the ResultsBI software, where we will assemble your company's strategic plan plan. Using it's robust execution tools you will drive employee egagemnent and th execution of your startegy. 
Ensure you have a strategy in place to recover strong and make 2021 the year you need!.

Canada Check Back 
Registration Link Coming Soon 

The Land Run is Here!
FREE — Global Workshop
7th of April - 3 Global Instances

The Oklahoma Land Run of 1889 started at high noon on April 22, 1889, with an estimated 50,000 people lined up for their piece of the available two million acres.

The COVID-19 Pandemic has created a global financial crisis not seen in our lifetime. However, financial crises create vacuums and typically enormous opportunities.

With vaccines beginning to being administered worldwide, 2021 will soon be a land-run year for businesses everywhere. The 2021 Land Run has already started; how can you ensure your company is part of it? 

Join me for a rewarding global workshop! This Strategic Planning webinar will help you identify emerging opportunities and leverage them for success in 2021.

Strategic Planning Masterclass
Ireland / United  Kingdom
8 to 12 April @ 2 GMT 

Over 5 Days, just an hour a day we review the 15 critical components of assembling of a strategic plan. 

Includes 90 Days FREE Access* to the ResultsBI software, where we will assemble your company's strategic plan plan. Using it's robust execution tools you will drive employee egagemnent and th execution of your startegy.
* Access for upto 10 users

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