businesschamber.com webinar slide deck

AWESOMELY SIMPLE

The Six Key Strategies for

Running a Highly Successful Business

John Spence

For the past 14 years…

Global Economy?

National Economy?

For those who are prepared…

…chaos brings opportunity

1. Vivid Vision

Let’s define 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.

A superior TEAM that delivers real value

through elegant SOLUTIONS for

their customers and looks for appropriate

GROWTH opportunities.

A compelling and delicious Vision

We strive to be excellent through exceeding our guests’ expectations by providing a dining experience that is Sensual, Spiritual and Savory.

Three keys to an effective vision:

Over-communicate

Adjust when necessary

LIVE it every day

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

John Spence High-Performance Team Model

• D• M• C• C• M• D

irection – vivid, clear, inspiring --- shared

easurements – specific, observable, focused

ompetence – very good at what they do

ommunication – open, honest, courageous

utual Accountability – all team members

iscipline – do this every day

11 Key Team Competencies:

1. Setting clear, specific and measurable goals.

2. Making assignments extremely clear and ensuring required competence.

3. Using effective decision making processes within the team.

4. Establishing accountability for high performance across the entire team.

5. Running effective team meetings.

6. Building strong levels of trust.

7. Establishing open, honest and frank communications.

8. Managing conflict effectively.

9. Creating mutual respect and collaboration.

10. Encouraging risk-taking and innovation.

11. Engaging in ongoing team building activities.

1 - 10

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 + how will we behave on the way?

FocusDifferentiation“No”

Stakeholders + guiding collation

Vision + ValuesStrategyPlansGoals / ObjectivesTactics / Actions

Procedures / ProtocolsRepeatable ProcessClear / consistent / relentless

Training +time / money /

supplies / people

Measure / TrackCommunicate

Transparency Renewal

Praise + Celebration and

Eliminate Mediocrity

Keys to Accountability

Very Clear Expectations

Specific and Measurable Goals

Necessary Systems & Support

Robust Communication

Consistent Tracking of Performance

Timely Performance Reviews

Refuse to Tolerate mediocrity

The Four Pieces of Paper…

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…

Last Year

This Year

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.”

The Five Levels of Customer Service

I don’t really care

Why try harder

Good enough is good enough

That’s nice

Holy shit – you guys are awesome!!!!!

Customer Satisfaction drives Customer Loyalty… and Customer Loyalty drives Profitability

100%

90

80

70

60

50

40

30

20

Extremely Dissatisfie

d

SomewhatDissatisfie

d

SlightlyDissatisfie

dSatisfied

Very Satisfied

Zone of Defection

Zone of Indifferenc

e

Zone of Affection

Loyalt

y

Customer Satisfaction

Terrorist

Evangelist

A 5% increase in loyalty among your best customers…

Can produce a profit increase of 25% – 85%I hate you

I don’t care about you

I love you

Fundamental Customer Expectations

• Reliability: The ability to provide what was promised, on time, dependably and accurately. (Honesty)

• Assurance: The knowledge and courtesy of employees, and their ability to convey trust and confidence. (Competence)

• Empathy: The degree of caring and individual attention provided to customers. (Concern)

• Responsiveness: The willingness to help customers and provide prompt service. (Attitude)

• Tangibles: The physical facilities, equipment, and appearance of the personnel. (Professionalism)

How do the Best Companies Deliver Superior Customer Service?

• From a study of more than 3,000 companies — narrowed down to the top 101 companies that profit from customer care — here are the top five factors that were the fundament tactics used to build and manage extraordinary levels of customer satisfaction and loyalty.

They listen to, understand, and respond (often in unique and creative ways) to the evolving needs and constantly shifting expectations of their customers. (VOC)

Extreme Customer Focus

They establish a clear vision of what superior service is, communicate that vision to employees at all levels, and ensure that service quality is personally and positively important to everyone in the organization..

Shared Customer Service Credo

They establish concrete standards of service quality and regularly measure themselves against those standards, guarding against the “acceptable error” mindset by establishing as their goal 100% customer satisfaction performance.

Clear Standards + Accountability

They hire the best people, train them carefully and extensively so they have the knowledge and skills to achieve the service standards, then empower them to work on behalf of the customers, whether inside or outside the organization.

Customer Focused Employees

They recognize and reward service accomplishments, sometimes individually, sometimes as a group effort, in particular celebrating the success of employees who go “one step beyond” for their customers.

Deal decisively with mediocrity

Reward and Celebrate Success…

Moments of Truth

Moments of Truth

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

T + C x ECF = Success

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.johnspence.com/blog

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