Strategies for Gaining More Business
Thomas Libertiny President, Libertiny Group Growth Through Strategy www.LibertinyGroup.com
Strategies for Gaining More Business
Agenda 7:00pm Greetings 7:30pm Presentation Step 1: Step 2: Step 3: Step 4: Step 5: Step 6:
How to determine your simple mission How to quickly find your firm’s strengths, weaknesses, opportunities, threats How to identify the key value factors in your industry today, from your client’s perspective How to identify which factors to change to gain new business Mission statement revision Circle of planning
8:00pm Questions 8:15pm Breakout teams 9:30pm Team Leader summaries 10:00pm Thank you and good night! www.LibertinyGroup.com
Strategies for Gaining More Business
Step 1: How to determine your simple mission—the benchmark against which you will measure all of your decisions Example: Traditional Banks vs. Financial Advisors Our Clients • Revision 1: Small business owners (no change) Sample Mission Statement • Revision 1: Provide our clients with an easy-to-use bank
www.LibertinyGroup.com
Strategies for Gaining More Business
Step 2: How to quickly find your firm’s strengths, weaknesses, opportunities, threats Example: Traditional Banks vs. Financial Advisors
SWOT Analysis
Helpful
Harmful
Internal origin
Strengths
Weaknesses
External origin
Opportunities
Threats
Attributes of the Organization
Attributes of the Environment
to achieving the objective
1) Many products & services 2) Many locations 3) Convenient hours
1) Clients have very little time 2) Understanding of how to obtain a loan is poor 3) Use the web 24/7
to achieving the objective
1) Traditional methods of “doing things” 2) Benchmarking only our industry instead of the best service industries
1) Many rules and regulations 2) Clients are not confident in banking industry 3) Clients don’t view bank as a partner in their success 4) Industry viewed as commodity— clients shop on price
www.LibertinyGroup.com
Strategies for Gaining More Business
Step 3: How to identify the key value factors in your industry today—from your client’s perspective Example: Traditional Banks vs. Financial Advisors High
Traditional Banks
Financial Advisors Low
Products & Services
Locations
Hours of operations
Business service quality
Industry confidence
Pricing
www.LibertinyGroup.com
Strategies for Gaining More Business
Step 4: How to identify which factors to change to gain new business Example: Traditional Banks vs. Financial Advisors Reduce
Factors to be reduced well below the industry standard— Little value.
Eliminate
Factors to be eliminated— Industry takes for granted.
New Value Curve
Create
Factors to be created that industry has never offered
Raise
Factors to be raised well above the industry standard. Significant value. www.LibertinyGroup.com
Strategies for Gaining More Business
Step 4: How to identify which factors to change to gain new business Example: Traditional Banks vs. Financial Advisors High
Create
New Business Bank Raise
Financial Advisors
Reduce
Traditional Banks
Eliminate
Low Products & Services
Locations
Hours of operations Business service Industry confidence quality
Pricing
Simple to Helpfulness understand towards business products & services owners
www.LibertinyGroup.com
Strategies for Gaining More Business
Step 5: How to determine your simple mission—the benchmark against which you will measure all of your decisions Example: Traditional Banks vs. Financial Advisors Our Clients • Revision 1: Small business owners (no change) Sample Mission Statement • Revision 1: Provide our clients with an easy-to-use bank • Revision 2: Provide our clients with an easy-to-use, one-stop-shop for all of their business financial needs 24/7
www.LibertinyGroup.com
Strategies for Gaining More Business
Step 5: How to determine your simple mission—the benchmark against which you will measure all of your decisions Example: Traditional Banks vs. Financial Advisors Our Clients • Revision 1: Small business owners (no change) Sample Mission Statement • Revision 1: Provide our clients with an easy-to-use bank • Revision 2: Provide our clients with an easy-to-use, one-stop-shop for all of their business financial needs 24/7
www.LibertinyGroup.com
Strategies for Gaining More Business
Step 6: Circle of planning
Mission
Key value factors
SWOT
Industry value factors www.LibertinyGroup.com
Strategies for Gaining More Business
Agenda 7:00pm Greetings 7:30pm Presentation Step 1: Step 2: Step 3: Step 4: Step 5: Step 6:
How to determine your simple mission How to quickly find your firm’s strengths, weaknesses, opportunities, threats How to identify the key value factors in your industry today, from your client’s perspective How to identify which factors to change to gain new business Mission statement revision Circle of planning
8:00pm Questions 8:15pm Breakout teams 9:30pm Team Leader summaries (5 minutes per team) 10:00pm Thank you and good night! www.LibertinyGroup.com
Strategies for Gaining More Business
Agenda 8:15pm Step A: Count off by 10—write your number down 8:20pm Step B: Find your team’s easel 8:25pm Step C: Introduce yourself to your team—name and industry 8:30pm Step D: Elect a Team Leader—they will make your team’s final presentation 8:35pm Step E: Start working! Time: Look at the projection screen to know where you should be Questions: Ask for help if you need it
www.LibertinyGroup.com
Strategies for Gaining More Business
Step 1: How to determine my simple mission—the benchmark against which you will measure all of your decisions My Business vs. Industry Competitor My Clients • Revision 1: Sample Mission Statement • Revision 1:
8:35pm—8:40pm
www.LibertinyGroup.com
Strategies for Gaining More Business
Step 2: How to quickly find my firm’s strengths, weaknesses, opportunities, threats My Business vs. Industry Competitor
SWOT Analysis
Helpful
Harmful
Internal origin
Strengths
Weaknesses
External origin
Opportunities
Threats
Attributes of the Organization
Attributes of the Environment
to achieving the objective
1) 2) 3)
1) 2) 3)
to achieving the objective
1) 2) 3)
1) 2) 3)
8:40pm—8:50pm www.LibertinyGroup.com
Strategies for Gaining More Business
Step 3: How to identify the key value factors in my industry today—from your client’s perspective My Business vs. Industry Competitor High
My Current Business
Industry Competitor Low
Products & Services
Locations
Hours of operations
Business service quality
Industry confidence
Pricing
8:50pm—9:00pm www.LibertinyGroup.com
Strategies for Gaining More Business
Step 4: How to identify which factors to change to gain new business My Business vs. Industry Competitor Reduce
9:00pm—9:05pm
Factors to be reduced well below the industry standard— Little value.
Eliminate
Factors to be eliminated— Industry takes for granted.
New Value Curve
Create
Factors to be created that industry has never offered
Raise
Factors to be raised well above the industry standard. Significant value. www.LibertinyGroup.com
Strategies for Gaining More Business
Step 4: How to identify which factors to change to gain new business My New Business vs. Industry Competitor High
Create
My New Business Raise
Industry Competitor
Reduce
My Current Business
Eliminate
Low Products & Services
Locations
Hours of operations Business service Industry confidence quality
9:05pm—9:15pm
Pricing
Team Leader Discussion Page 1
Simple to Helpfulness understand towards business products & services owners
www.LibertinyGroup.com
Strategies for Gaining More Business
Step 5: How to determine simple mission—the benchmark against which you will measure all of your decisions My New Business vs. Industry Competitor My Clients • Revision 1: • Revision 2: Any changes? Sample Mission Statement • Revision 1: • Revision 2: Any changes?
9:15pm—9:20pm Team Leader Discussion Page 2
www.LibertinyGroup.com
Strategies for Gaining More Business
Agenda 7:00pm Greetings 7:30pm Presentation Step 1: Step 2: Step 3: Step 4: Step 5: Step 6:
How to determine your simple mission How to quickly find your firm’s strengths, weaknesses, opportunities, threats How to identify the key value factors in your industry today, from your client’s perspective How to identify which factors to change to gain new business Mission statement revision Circle of planning
8:00pm Questions 8:15pm Breakout teams 9:30pm Team Leader summaries (5 minutes per team) 10:00pm Thank you and good night! www.LibertinyGroup.com
Strategies for Gaining More Business
Thomas Libertiny President, Libertiny Group Growth Through Strategy
Please complete the review forms. Thank you and Good Night!
www.LibertinyGroup.com Mission
Key value factors
SWOT
Industry value factors