the formulas for success tz
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The Formulas for Successin Life and Business
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What does this mean to me?
How can I use this idea?
What can I do right away?
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For those who are prepared…For those who are prepared…
…chaos brings opportunity
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• The willingness… even enthusiasm… to change EVERYTHING combined with the wisdom to understand what must NEVER be changed.
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The Key To Success in the New Normal…
•Nimbleosity•Nim-bo-lishis
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Focus on the Fundamentals
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FDAF+PCPVKNLC-NC
IM
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FDA
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Workshop
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Information
AssumptionsReactions
Mental MapsActions
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“You become what you FOCUS on and similar to
the PEOPLE you surround yourself with.”
WS: 5F +5P + U
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K N L
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C - NC
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Ideal ME
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Focus on the Fundamentals of Business Success
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(T + C + ECF) x DE = Success
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• Ignorance• Inflexibility• Indifference• Inconsistency
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• Aggressive external market focus.
• Ridiculously high level of customer focus.
• Keep the “Main Things” the main things.
• Bullish on knowledge sharing and learning.
• Teamwork / communication is mandatory – not optional.
• Passion and commitment at all levels.
• Foster a healthy paranoia.
• Revel in change.
3
1 - 10
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Credibility
1.Honest2.Forward-looking3.Competent4.Inspiring
NITB
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Focus me
Know me
Care about me
Hear me
Help me feel proud
Equip me
Help me see my value
Help me grow
Help me see my importance
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• Fun
• Family
• Friends
• Fair
• Freedom
• Pride
• Praise
• Meaning
• Accomplishment
7
1 - 10
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1. Caring, competent, and engaging leaders.
2. Effective managers who keep employees aligned, informed and engaged.
3. Effective teamwork at ALL levels.
4. Job enrichment and professional growth.
5. Valuing employee contributions.
6. Genuine concern for employee well being.
1 - 10
7
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Goal Setting
TrustAccountability
Communications
RECOGNITION
From: The Orange Revolution by Gostick and Elton 8
1 - 10
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Extreme
Customer
Focus
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Zappos 98 = 0 08 = 1.2 Billion
Looking back, a big reason we hit our goal early was that we decided to invest our time, money and resources into three key areas: customer service (which would build our brand and drive word-of-mouth), culture (which would lead to the formation of our core values), and employee training and development (which would eventually lead to the creation of our Pipeline Team).
Even today, our core belief is that our
Brand, our Culture and our Pipeline are the only competitive advantages we will have in the long run. Everything else can and will be copied.
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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 Six Factors that were the fundament tactics used to build and manage extraordinary levels of customer satisfaction and loyalty.
1 -10
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They listen to, understand, and respond (often in unique and
creative ways) to the evolving needs and constantly shifting
expectations of their customers.
Own the VOC
1. Extreme Customer Focus
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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..
2. Shared Customer Service Credo
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3. Process = Repeatable success
• They create systems, processes and protocols to ensure that service delivery is flawless… without stifling the creativity and initiative of their employees.
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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.
4. Clear Standards + Accountability
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Measure & Post
MPS Margin Per Sale
Talent
Customer Service
Customer Retention
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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.
5. Customer Focused Employees
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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
6. Reward and Celebrate Success
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VOC + MOT + WOM
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VOC
Surveys
Focus Groups
Customer PanelsComment Cards
ComplaintsEmployeesCompetition
Advisory Board
Website
Social Media
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• 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.”
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MOT Practice Round
Dry CleanerHair SalonTailorPlumber
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Workshop: VOC + MOT
9
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4343 78
43
7878
43 78
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WOM = Your BEST form of advertising! 78.9%
23.4%
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Know Like Trust Try Buy Repeat
Identify Ideal
Customer
ReferIdeal
Customer
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Workshop: Five ways to
generate WOM
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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%
From: What (really) Works by Joyce, Nohria, Roberson 11
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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.
From: What (really) Works by Joyce, Nohria, Roberson 11
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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.
From: What (really) Works by Joyce, Nohria, Roberson
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10 – 15 %
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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%)
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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.
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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.
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If you have any questions at all please do not hesitate to send a note or call. My email address is: [email protected]
My twitter address is: @awesomelysimplePlease feel free to “friend” me on FB
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:
www.slideshare.net/johnspence
Thank You