approach to value creation is active, and can be summarized as a build, operate and transfer (BOT) model. We use this approach for a few reasons:
PORTFOLIO VALUE CREATION
Objective: To build the management systems and team that maximize likelihood of successful growth plan execution, and company integration with other portfolio companies Targets: 100% implementation of the First 180-Days Project Plan Indicators of Success: Completion of the checklists Scope: Building the management systems of the company within the first six months Tools: First 180-Days Statement of Work; First 180-Days Project Plan; The Exec’s Program tools Time commitment: 50% of SGS team’s time Main Activities: apprenticeship;implementation;Checklisttraining;coaching and transition Accountable: SGS COO Best Practice: Company management see the SGS team as their managers
As much as possible, the SGS team must use a systematic approach to building the management systems and apprenticing and training the gender-balanced exec team. This not
READ FIRST Note to Reader: Portfolio value creation is the work required to increase the value of the portfolio. Different investors use different approaches to add and unlock value in their portfolio – some are passive, some are RENEW’sactive.
The value creation stage can be broken down into three phases: 1) Build: When SGS builds the management systems of the company; 2) Operate: When SGS runs departments of the company and trains and apprentices a local gender-balanced exec team; 3) Transfer: When SGS formally transfers the management over to the trained, local, gender-balanced executive team. At the end of the three-year value creation stage, the goal is for the company to have hit its growth plan targets and is being run by a skilled gender-balanced, local executive team.
1) After ten years of SME investing in East Africa, we have learned that most SMEs struggle to implement their growth plans because they need stronger management systems and teams to execute the plan; 2) There is a dearth of affordable local middle management that has the experience needed to run management divisions of a company as it aggressively scales; 3) Training helps but a more hands-on approach to, where classroom training is reinforced with on-thejob implementation support accelerates adoption of best practices and speed of execution; 4) SMEs as standalone companies may be challenging to exit. Rather, by using a shared growth team (SGS team) across a cluster of complementary SMEs under a platform, an experienced shared growth team can work across multiple companies and help integrate them into a larger company that may be more profitable and attractive to larger investors.
QUICK REFERENCE GUIDE: VALUE CREATION
1 STAGE 5: PORTFOLIO VALUE CREATION | STAGE 5:
In our approach to portfolio value creation, the SGS team act like a managing partner (e.g., investor-operator, buy-build investor, business partner), and assumes management of key departments of the company for a period of time. The current management is trained and tested and if retained, become the deputy Chief Experience Officer (CXO) and begin an apprenticeship period under the SGS leadership, along with receiving regular trainings.
Get immediate buy-in to make the company gender-smart. With SME owners and management, we recommend the fund manager make it clear from the start that making the company gender-smart is a key part of its growth strategy. Present clear evidence that gender-smart companies outperform non-gender-smart companies across several financial indicators.
Much of the work done to build the management systems happens in the first six months (180 days) of the SGS team’s engagement with the company and is outlined in the First 180-Days Project Plan, and the First 180-Days Statement of Work (SOW) signed by the company management and SGS team. By the time the First 180-Days Project Plan begins, the SGS team knows the management team and understands the company, because they have been running the team through The Gender-Smart Exec’s Program, interviewed them during CDD, and led many parts of the analysis and formal DD on the deal. When the investment closes, the SGS team should be able to move into the management role of the company and begin implementing the First 180-Days Project Plan (outlined below) quickly and smoothly. The project plan will help guide the team in building gender-smart management systems in the company.
Manage the company for three years during the rapid scale up growth phase of the company. This should be clear to the owners and management, been reflected in the terms and definitive legal agreements, and introduced to the management months before when they started The Gender-Smart Exec’s Program. [INV./FUND MANAGER NAME] acts as a managing partner, and leads departments of the company, to help the company adopt best practices and to upskill the management team and implement gender-smart practices to the company.
2 STAGE 5: PORTFOLIO VALUE CREATION | only allows the SGS team to perfect the process but allows them to perform this work across multiple companies at the same time. It also creates standard systems and practices across the portfolio to foster synergies, management integration and diversity, consolidated reporting, and faster integration into platform companies.
PRINCIPLES
(STAGE 2) Invest in a “cluster” or “batch” of SMEs in similar sectors at the same time. This helps IM and SGS maximize the efficiency of their investment work, training, management, knowledge sharing and human capital development across multiple companies, and for the creation of platform companies. Platform companies are made
The following principles are non-negotiable standards that must be adhered to during the value creation stage:
Practice what you preach. [INV./FUND MANAGER NAME] must live by what we expect our portfolio companies to implement. [INV./FUND MANAGER NAME] should model the business disciplines that they expect SME management to implement from the SG2X Playbook. If [INV./FUND MANAGER NAME] expects an SME to prepare and deliver smart-looking presentations and report financials monthly, do so at [INV./FUND MANAGER NAME]. If [INV./FUND MANAGER NAME] expects women in leadership teams at the SME, [INV./FUND MANAGER NAME] should have women in leadership positions, as well. Test everything in this Playbook at [INV./FUND MANAGER NAME] before implementing at companies.
Deliver excellent trainings and immediate implementation support at the company level. All SGS members should be good trainers. Note to Reader: RENEW estimates anywhere between 50 to 100 hours of training and/or coaching needs to be delivered to companies prior to investing, and a minimum of two hours per week, or eight hours per month, of training be performed for the first two years of an investment. But training alone is not enough. The SGS team member leading the training must also implement what they are training, and coach the local management team to implement the training.
Run the SGS team like its own management consulting business. Staff the SGS team with operational expertise and strong project managers and invest heavily in knowledge sharing of lessons learned and best practices from portfolio management experience. At steady state, the SGS team made up of five experienced and trained operators should be capable of handling five operating companies.
Focus on two main time-bound objectives. 1) Building and transitioning management to a gender-balanced executive team by month 36; and 2) Hit $[TARGET USD VALUE] EBITDA by month 60. While other objectives will be defined, we recommend the fund manager keep their goals simple and clear and communicate them regularly to their teams in the firm and at their companies.
Adhere toa zero-tolerance rule for ethical violations. This is obvious, but a message you should repeatedly emphasize. You will be under pressure to hit deadlines. There will be a number of projects that are dependent on one another, and you may be tempted to pay a bribe or facilitation fee to get something done. Simply, do not do it. This will put you, the fund and the portfolio company at risk of legal action. If you believe you are encountering delays because someone expects a bribe, document the incident and inform your manager immediately.
Use objectives and key results (OKRs) as the main management system for all companies. As taught in The Gender-Smart Exec’s Program, the OKR system is the management system that should be used by all companies. This standardizes the planning and review process across the portfolio and provides a portfolio-wide planning schedule.
3 STAGE 5: PORTFOLIO VALUE CREATION | up of multiple SMEs in the same sector and have the potential to achieve impact and financial goals faster than stand-alone SMEs.
Alwaysberespectfultowards ownersandmanagement, but firm onthe process. If someone internally at the portfolio company is resisting work that you are trying to accomplish, first empathize. Try to understand that your involvement in the portfolio company may be intimidating and seen as a threat to their job, so consider having oneon-one coaching and/or mentoring conversation to understand why they may be resisting an employee or manager’s course of action – it may be as simple as them not understanding the importance behind a best practice, or a more structured solution such as a 3-month corrective action plan. Never call them out or embarrass anyone publicly. Always start by asking how they are doing and learn something about their personal story (e.g., where they went to school, how many kids they have, etc.). Ideally, much of this relationship and rapport building has already been done in the pre-investment stage, but we recommend it continues during the “Build”, “Operate” and “Transfer”
Replace legacy management that resists change. Some legacy management might not change, and it is important that this resistance does not pull down the overall performance of the company. Make it clear that managers will be trained and motivated to stay on board under the new strategy. If a manager is not willing or able to perform their role in six months (despite one-on-one coaching and/or mentoring sessions, per the bullet point above, and after being put on a corrective action plan), then consider removing them from their role.
Focus on afew critical disciplines and implement them rigorously. Always fall back to the core disciplines of the Playbook, and if they are not being done right, stop and go back until they are being done right. Do not let anyone on the SGS team stray from the Playbook. Every single SGS team member should be committed to implementing the Playbook or it will not work. Remember that 80% of the results are going to come from 20% of the work. Focus on building the few critical business disciplines outlined in this Playbook, memorize them and do not overdo it. Note to Reader: RENEW believes these are disciplined use of: 1) The OKR system to manage planning and implementation, 2) The weekly Legend and “I Musts” (or equivalent in-house project management plan/software) as the most tactical plan to drive projects forward, 3) Calendars to increase management’s ability to plan and get things done, 4) A 13-week cash flow to track and forecast cash flow; 5) A weekly and monthly KPIs dashboard to get the team focused on measurable performance; 6) A system to close the books every month by the 10th and send the financial statements and a TvA analysis to the Exec and SGS team by the 15th; 7) Meeting disciplines and purpose, outcomes and agenda (POA), all of which include gender-smart considerations.
4 STAGE 5: PORTFOLIO VALUE CREATION | phases. However, if an understanding and/or solution cannot be reached, consider removing the individual from their role.
Stick with the process. The SGS team may try to “win over” the legacy management team and employees, and in so doing entertain one-off requests. Do not do this. Be kind but stick with the policies in the employee manual. The SGS team should be familiar with the HR policies. Never stray from the policies, unless all the fund manager’s partners agree.
Pay special attention to change management. For many on the management team, it will feel like there is a lot of change occurring. SGS should have regular, informal and formal check ins with the management team to help them manage the change they are experiencing so it doesn’t overwhelm them and burn them out. Explain that the goal of the changes SGS is making is to support the company’s growth.
Use strong delegation skills during the operate step. Delegation is a simple process but hard for many to follow. It begins with communicating the “why” and “what good looks like” for whatever is being delegated, training on the “how” via SOPs, and then giving the delegate time to implement. SGS should offer check-in meetings to help the local manager feel supported and to answer questions. Much of this is done during the apprenticeship stage.
Executing Battle Rhythms SOP Tool - Executing Battle Rhythms SOP An accompanying tool to the Master Planning SOP, the Executing Battle Rhythms SOP, provides a detailed overview of the meeting cadence that SME executives and managers should follow in pursuit of implementing the
TOOLS
ProjectManagementToolsNAME LINK USE
The scope of value addition begins before the closing (T minus 180 days), and for three years after the investment closing. It is broken into four activities: 1) prepare (pre-investment), 2) build, 3) operate and 4) transfer.
TARGETS
SGS has fully transitioned management to a gender-balanced executive team by month 36. The company reaches $[TARGET USD VALUE] EBITDA by month 60. Other growth, impact and financial targets are created for each company and platform company and are reflected in the company’s CIM.
The first 180 days involves building the management systems of the company by implementing a number of checklists across the management departments of the company.
5 STAGE 5: PORTFOLIO VALUE CREATION | SCOPE
Within the first 180 days of an investment, all checklist items have been completed by the SGS team and status report has been shared with the IIC.
MasterPlanningSOP Tool - Master Planning SOP This comprehensive tool provides a framework to develop a company's: 1) 20Year Guiding Statements, 2) Five-Year Strategic Plan, and 3) Annual Management Plan (AMP). Further, it explains how to translate the company’s SMART Objectives and Key Results (OKRs) of their AMP into actionable projects and then use the AMP in their monthly and weekly meetings.
A thought piece published by Harvard Business Review on executive communication, this article provides five key messages that executives must communicate with their teams to ensure vision and mission alignment and the achievement of core objectives and key results. These messages include organizational structure and hierarchy, financial results, the leader's sense of his/her job, time management and corporate culture.
6 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK USE tactical and long-term plans of the AMP.
Exec's Program Implementation Roadmap Tool Tool - Exec's Program Implementation Roadmap
The ultimate guide for implementing The GenderSmart Exec's Program training (complimenting the First 180-Days Project Plan), this tool outlines the core disciplines, lessons and best practices outlined throughout the program, providing executives with a Gantt chart implementation roadmap. While the tool can be used outside of the realm of The Exec's Program, the SG2X Playbook requires all company executives and senior management to take the training.
HBR: 5 Messages Leaders MustManage
Tool - 5 Messages Leaders Must Manage
LINK USE CDC ESG Toolkit: Company Environmental & Social Management CDCSystems(ESMS)ESGToolkit: ESG Templates&Checklists
As we have mentioned throughout this SOP, the CDC's ESG Toolkit provides fund managers and their portfolio companies with a high-level overview of what a company-level environmental and social management system (ESMS) should entail and provides several relevant templates and checklists that accompany and support the ESMS. These include an ESG Checklist, ESG Action Plan, ESG Report Template, etc. Note: these are thirdparty resources published by Cleverism.
SME Governance Guidebook Tool - SME Governance Guidebook
This SOP summarizes how fund managers, and their portfolio companies can work
Tool - Company Environmental & Social Management Systems Tool(ESMS)- ESG Templates & Checklists
CorporateGovernanceToolsNAME
Setting Up & Managing a Gender-SmartBoardSOP
This IFC guidebook "specifically addresses the challenges and opportunities faced by SMEs at the various stages of their lifecycles, offering tailored corporate recommendations.governance The Guidebook includes the Action Planning Tool to help SME owners, investors, and managers take a pragmatic approach to governance, as a means of strengthening their businesses over the long term.” Note: this is a third-party resource published by the IFC.
7 STAGE 5: PORTFOLIO VALUE CREATION |
Tool - Setting Up & Managing a Gender-Smart Board SOP
This template provides SMEs with a straightforward Board Charter that positions SMEs to pledge that at least 30% of their Board members are women, thus support gender equality and diversity on the Board. Note: this is a thirdparty resource published by The Boardroom Africa & Alitheia Capital.
Running Effective Board MeetingsSOP
BoardDiversityCharter
This Code of Ethics for Board Members template provides a starting point that companies to further tailor towards the specifics of their board.
8 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK USE together to set up and manage a gender-smart Board. In the SOP, there are additional tools to help executives set up and manage a Board, including a Sample Statement of Work, Sample Board Ethics Policy, Sample Board Agenda, Sample Board Meeting Minutes, Sample Email Templates, etc.
NCNA Code of Ethics for BoardMembers
Tool - Board Diversity Charter
Tool – Code of Ethics for Board Members
Tool - Running Effective Board Meetings SOP Written with an SME executive audience in mind, this tool should be provided to and used by the SME management team as the investee company and the fund manager go about setting up the company's governance systems. The tool helps set expectations and compliments the Setting
Finance&AccountingToolsNAME
13-WeekCashFlowTool
The 13-Week Cash Flow tool provides a company with a means to forecast weekly cash inputs less cash outputs, providing a company with an accurate projection of their cash runway over a rolling 13-week basis. The SME should regularly use
To be used in the event an SME or fund manager is looking for robust governance and financial reporting templates to be completed and shared before Board meetings. This template provides detailed instructions on how to complete the Summary Report, Financial Report, and Non-Financial Statistical Report tabs. Note: this is a third-party resource published by Hayes Knight.
13-Week Cash Flow Tool
LINK USE 13 Steps to Close the BooksGuide 13 Steps to Close the Books Guide
The purpose of this document is to provide an SME's accounting and finance department with a simple, sector-agnostic stepby-step guide on how to close their accounting books monthly, a discipline that all SMEs should commit to upholding.
9 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK USE Up & Managing a GenderSmart Board SOP.
Governance Reporting Template Tool - Governance Reporting Template
MasteringCashFlowTool
SupportingMaterials
The International Financial Reporting Standard (IFRS) for SMEs is a set of globally accepted financial reporting principles tailored to SMEs' capabilities and needs. The IFRS organization published a guide, supporting materials,
Tool - Mastering Cash Flow
A Guide to the IFRS for
Tool - A Guide to the IFRS for ToolSMEs- IFRS for SMEs Standards Supporting Materials
13-Week Cash Flow OnePager Tool - 13-Week Cash Flow One-Pager
An accompanying one-pager to the 13-Week Cash Flow Tool, this document provides a high-level overview of the steps a company must take to update and maintain the 13-Week Cash Flow Tool.
This "how-to" guide provides a high-level overview of the seven steps required to create a business budget and offers links to existing templates that companies can access online for free. Note: this is a third-party resource published by Bench.
How-To Guide for Creating aBusinessBudget Tool - How-To Guide for Creating a Business Budget
IFRSSMEsfor SMEs Standards
This tool allows executives to calculate their marginal cash flow to determine if volume is hurting their growth, their Cash Conversion Cycle (CCC). The CCC will determine the number of days it takes from the time of purchase to getting money in the bank and the impact on cash by making marginal improvements to the seven levers of cash flow.
10 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK USE this tool to help them make informed financial decisions.
This helpful article provides SMEs with an overview of: 1) what exactly a finance department is, 2) the main objectives of this department, 3) the functions it carries out, 4) the elements comprising this department, 5) positions required to run this department, and lastly 6) the importance of knowing information technology when running the finances of an
Accounting Policies & ProceduresManual
11 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK USE
Tool - Accounting Policies & Procedures Manual
IFRSforSMEsModules
While there are several examples of accounting policies and procedures manual templates available online, RENEW finds this manual to be comprehensive without being overburdensome. RENEW updated it to fit the context of SMEs operating in Africa.
Setting up A Finance Department
Tool - Setting Up a Finance Department
SMEs can adopt the sample accounting policies and procedures outlined in the tool to strengthen their accounting function and systems. Note: this is a thirdparty resource originally published by Wegner CPAs that has been modified by RENEW.
and a free self-guided training module that SMEs can use to better understand and apply the IFRS accounting principles to their company's financial reporting.
Tool - IFRS for SMEs Modules
12 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK USE organization. Note: this is a third-party resource published by Cleverism.
Financial Policies & ProceduresManual
The sample interview questionnaire can be used as a foundation upon which SMEs can build for or tailor to their specific company (i.e., sector) or the role for which they are hiring (i.e., adding in technical, role-specific questions). The questionnaire provides a blend of standard and behavioral questions, blending in gender sensitivity, where appropriate.
Tool - Job Interview Questionnaire Template
HumanResourceToolsNAME
Tool - Financial Policies & Procedures Manual
LINK USE Job Interview QuestionnaireTemplate
Similar to the tool above, the Financial Policies & Procedures Manual published by the State of Victoria of Australia provides a solid foundation upon which SMEs can tailor the sample financial policies and procedures to the specific sector, context and needs of the company's finance department. RENEW updated it to better fit the context of SMEs operating in Africa. Note: this is a thirdparty resource published by the State Government of Victoria that has been modified by RENEW.
E-Myth is a well-known book on entrepreneurship and an online business coaching platform. E-Myth published a "how to" eight-step guide on creating and completing a well-balanced and effective organization chart as part of the suite of free resources available to entrepreneurs. Note: This is a third-party resource published by EMyth Worldwide.
6 Steps to Writing a Great Position Agreement and Template
Tool - 6 Steps to Writing a Great Position Agreement and Template RENEW created a gendersmart, six-step guide on writing a clear, accurate and adaptable position agreement, including a position agreement template. Companies are also encouraged to review EMyth's Position Agreement Guide, which provides a slightly more in-depth overview on how to write a position agreement and position agreement template.
13 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK USE Performance Review Template Tool - Performance Review Template
The sample performance review template comprises four parts: 1) the performance review SOP; 2) the employee self-evaluation; 3) the manager evaluation of an employee; and 4) the incentive plan. Similar to the Job Interview Questionnaire template, this tool can be tailored to the company's specific needs and employee evaluation requirements.
E-Myth: Creating Your OrganizationChartGuide
Tool - Creating Your Organization Chart Guide
Value for Women: Communications & Gender Checklist: Things to Consider Tool - Communications & Gender Checklist: Things to Consider This short guide outlines tips for applying a gender and inclusion lens while developing and reviewing written and audio-visual communications materials. Note: This is a third-party resource published by Value for Women.
LINK USE Inc.com: Seven Essential Elements of a Marketing Tool - Seven Essential This article by Inc.com provides companies with a
The CDC Gender Toolkit consists of detailed guidance and a suite of tools, templates, and analysis to help companies identify and prevent gender biases from entering their HR and recruiting systems, processes, and functions. Note: These are third-party resources published by the CDC.
Sourced from three articles, this simple one-pager provides companies with ten strategies on how team members can run inclusive and gender-smart meetings. The strategies are meetingtype agnostic.
ToolBias
10 Simple Strategies to RunInclusiveMeetings
ToolDescriptions-Gender
14 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK USE CDC Gender Toolkit: CDCGenderDiversityGender Toolkit: TacklingUnconscious Bias CDC Gender Toolkit: Gender Neutral Job CDCDescriptionsGender Toolkit: GenderPayGapAnalysis
Tool - 10 Simple Strategies to Run Inclusive Meetings
Tool - Gender Diversity Tool - Tackling Unconscious - Gender Neutral Job Pay Gap Analysis
Marketing&SalesToolsNAME
This article by BCG discusses the reality of the significant gender gap in the sales function of a company. It provides four concrete "interventions" for companies
First Round Interview: Leslie's Compass: A Framework for Go-ToMarketStrategy Tool - Leslie's Compass: A Framework for Go-To-Market Strategy
The article published by First Round Review provides a conceptual framework for how companies can approach the complex and nuanced relationship between marketing and sales. The tool provides an overview of the two "approaches" to determine whether marketing or sales takes the lead (i.e., marketing serves sales or sales serves marketing).
Marketing Assessment Tool Tool - Marketing Assessment This complimentary tool helps companies work through Leslie's Compass: Go-To-Market Strategy Framework and should only be used after reading through the article. In essence, the tools help put a conceptual framework and thought to paper, pushing companies to go through the exercise of determining whether marketing or sales should lead for their company's products and services.
15 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK USE Plan Elements of a Marketing Plan high-level list of seven essential components of a marketing plan that helps keeps a sales pipeline full.
BCG: Closing the Gender GapinSalesLeadership Tool - Closing the Gender Gap in Sales Leadership
An example of a sales pipeline tool that can be used as a foundation for a company's sales function. The pipeline tool is separated into four categories: the sales lead information, the company's relationship management of said lead, the value of the lead, and the stage of the lead within the sales pipeline. The tool can be used for B2B or B2C companies; the columns simply have to be tweaked to fit the company's product and services.
HBR: How to Improve Your Sales Skills, Even If You're NotaSalesperson
USE to enact that will help improve gender equality in their sales department.
PortfolioCompanyMonitoring&EvaluationToolsNAMELINK
16 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK
This simple financial KPIs template empowers companies to calculate financial ratios and metrics
USE Simple Financial KPIs Template Tool - Simple Financial KPIs Template
The Harvard Business Review article provides advice on approaching the "art of selling" for individuals who may not be well-versed or inexperienced in sales, outlining six actionable principles to follow and emphasizing them through the showcasing of two short cases studies.
Tool - How to Improve Your Sales Skills, Even If You're Not a Salesperson
SalesPipelineTool Tool - Sales Pipeline
Executive ReportingDashboard Template Tool - Executive ReportingDashboard Template This template provides companies with the means to start and build upon an internal executive reporting dashboard that can be maintained by the CEO and
Global Impact Investing Network's IRIS+ and 2X ChallengeMetrics Tool - Global Impact Investing Network's IRIS+ and 2X Challenge Metrics
Labor Efficiency Analysis Tool Tool - Labor Efficiency Analysis Tool
Leading development finance institutions and The GIIN have co-developed a set of gender impact metrics that will be adopted by members of the 2X Challenge and encouraged to be adopted by SMEs in general. The metrics are structured around the 2X Challenge Criteria, and cover data points on women's economic empowerment and gender equality.
17 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK USE that will assist with their financial decision making, enrich their investor and stakeholder reporting (e.g., Board meetings), and provide insight on the company's overall "financial health."
One of the biggest challenges that SMEs face is knowing when to hire someone. Often, it is an intuitive decision driven by persuasive manager and is not rooted in objective data. The Labor Efficiency Analysis tool pushes SMEs to look at the number behind the hiring decision, showing for which department(s) and when it is appropriate to hire new staff.
● Managers have a growth mindset: All managers have a healthy morning routine that includes 30-minutes of exercise, reading their personal vision statement out loud, drinking 1 liter of water, reading something inspirational (devotional, book), journaling (what they are excited about, what a good day would be, grateful for), and reviewing the calendar for the day.
18 STAGE 5: PORTFOLIO VALUE CREATION | NAME LINK USE used to reference essential company metrics quickly. The dashboard outlines several critical ratio calculations and presents targets versus actual variance analysis for several units, including HR (employment), Operations, Finance, etc.
Outcomes:
● The company understands the new values, principles and systems that will be used to run the company going forward and why they are so important.
● The company and management have a strong project management capacity: All managers are using the company Weekly Legend and never miss the Monday Legend meeting, Wednesday stand-up and Friday Week in Review meetings. The Legend template will be provided. At 9am on Monday morning all managers must attend the Legend meeting to kick off the week and review division goals and managers individual “I Musts” - all managers share their I Musts and ask for feedback. Immediately after the Legend meeting, managers must map their I Musts to their calendar. On Wednesday all managers must attend a short 15-minute stand up meeting to confirm they are on track
ACTIVITIES STEP 1: ONBOARD & BUILD
● Within the first 180 days, the SGS team will develop the standard set of gender-smart management systems and disciplines in the new portfolio company.
This stage is focused on implementing a series of checklists across the standard management departments of a company to ensure the systems and disciplines are built in the new portfolio company.
● Legacy management are trained and evaluated and, where necessary, replaced.
19 STAGE 5: PORTFOLIO VALUE CREATION | to hitting their personal and division I Musts; on Friday at 5pm all managers must attend the Week in Review (WIR) meeting to evaluate Targets vs Actuals for their division and personal “I Musts”. They will also set goals for the next week. The meeting closes with “Shout-Outs”, where managers recognize other team members for exceptional work.
● The company’s organizational structure aligns with the growth plan and all managers have signed position agreements: An organizational chart is developed and approved by the board. The org chart must have specific names of divisions and gender-balanced managers, gender-smart KPIs and what that unit is accountable for on the org chart. Position agreements (PAs) for all managers must be developed in a gender-smart way and signed by the manager and the COO. All managers must have developed and signed PAs for their direct reports. Thus, the first two layers of the company must have PAs developed and signed. Career tracks must be developed for all positions in the company ensuring equal opportunity and women’s career advancement and inserted in the HR manual.
● Management is trained on and using effective meeting disciplines: All managers must commit to running effective and inclusive meetings. All managers must use a calendar to schedule meetings and every invite must have a purpose, outcomes and agenda spelled out in advance of the meeting by the meeting owner. All meetings must start and end on time, and someone in every meeting must be assigned to take notes and send around a link to the notes and next steps within 30 min of the end of the
● All management can articulate the company’s gender-smart guiding statements and five-year strategy and annual management plan: All managers have memorized and are able to recite the company’s guiding statements, the company’s five-year SMART goals and the company’s OKRs as outlined in the AMP.
● The company has a gender-balanced, functioning board: The Board of Directors is set up and meeting monthly for the first six months, quarterly thereafter. Every Board meeting is well run using a PPT. The materials (financials and PPT) are sent out to the Board by the SGS COO no less than three days prior to the meeting. A secretary is assigned to take notes during the meeting, and next steps and resolutions are shared within two business days of the Board meeting. The management team must meet a day after the Board meeting to review decisions and changes to the plan.
● Management translates annual goals to quarterly OKRs and uses that for their quarterly plans: All managers are using the quarterly OKRs system to guide their weekly project work. All managers participate in a monthly manager KR TvA meeting and report out on KPIs TvA for their divisions.
Every week the COO shares a discipline in the Legend and reads it out loud during the Monday and Friday meetings to reinforce The Exec Program disciplines. Each and every management sets three “I Musts” every week and maps time on their calendars for that project work. All managers religiously use their calendars to manage their work and meetings for the week. The SGS COO and portfolio company CEO must check calendar use two to three times per month, more frequently during the adoption phase, to ensure this discipline takes hold.
● The company is forecasting cash flow: Within 30-days, the company must be using a daily or weekly 13-week cash flow forecast. Updates must never be missed.
● The company has an internal training program built on The Gender-Smart Exec’s Program: All middle managers and above have attended The Gender-Smart Exec’s Program and committed to the disciplines.
20 STAGE 5: PORTFOLIO VALUE CREATION | meeting. For recurring meetings, the next steps from the prior meeting must be reviewed at the start of the meeting. Everyone in the meeting must commit to doing their next steps in between meetings.
● The company has adopted a gender-smart HR manual and policies: The Employee Handbook has been tailored to the company, approved by legal, adopted and immediately implemented. The Employee Handbook has been shared with all staff, and every member must sign the Handbook. Gender-smart HR policies and practices must be kept and enforced. The most important policies cover the worst forms of GenderBased Violence (GBV) and are Harassment, Sexual Harassment and Sexual Exploitation, Human Rights, Anti-Human Trafficking and Grievance Procedures. Signage about GBV, gender discrimination, equality and empowerment must be put in visible locations around the company’s physical space. All staff must receive training on these policies to raise awareness; even if the company itself complies with these policies, it may be that these issues are present in its supply chain.
● The company closes their books and provides management with financial reports by the 10th of every month: The company will be set up on an electronic accounting system. The company will have an update finance manual that is signed off by the SGS CFO. The company must be able to close their books by the 5th of every month and generate accurate financial statements with TvA variance analysis no later than the 10th of every month, delivering everything to leadership no later than the 15th of every month.
● Standard Operating Procedures (SOPs) are written for each unit: Every manager has written SOPs for the core functions in their units, using a gender-lens. All staff under the manager must be trained on the SOPs and sign a document acknowledging that they will implement the SOPs.
● The company has a clear marketing plan: must have a gender-smart marketing strategy written down that includes the company’s target market (demographic and
● The company is using a daily, weekly and monthly reporting system: A dashboard for the company has been developed and is visible for all staff to see - electronic and/or physical. The SGS COO will track five to 10 KPIs each week or day and share those with the company. The KPIs should be gender-smart and have clear targets that are communicated to the staff. The dashboard should be shared with the investment manager and Board on a regular schedule.
● The company has and uses a budget: The company must have a budget developed and approved by the Board of Directors within the first 30-days and run a monthly TvA meeting with leadership to present targets versus actuals for operational and financial KPIs along with variance analysis. This report must be shared with the board.
● SGS and the management team are running three weekly project management meetings - the Monday Legend, Wednesday Standup, and Friday Week in Review.
Step1.a:ImplementProjectManagement Checklist
● The SGS team, owners (shareholders, board), management and employees all understand the company’s five-year growth plan and SMART goals, annual management plan and OKRs, and that the company will become gender-smart as part of the company’s growth plan.
The first priority of the SGS team is to build a strong project management function at the top of the company. Project management encompasses the planning and execution modules of The Exec’s Program. SGS will thus implement the Project Management systems into the portfolio company. When successfully implemented the company will have achieved the following outcomes within six months.
Outcomes:
● The company has adopted monthly OKR meetings, weekly Exec team meetings, and weekly unit team meetings as the company’s meeting battle rhythm.
● The SGS team is introduced by the owners to employees at a company all-hands as the acting managers of the executive team and company.
● The company has adopted the Legend as the weekly project management tool, and all management and unit staff set three “I Musts” each week and map that time to their calendars.
● The SGS team and management are creating monthly management and financial reports for the Board and for the Asset Management team.
ToolsandSOPs: ● Master Planning SOP ● TvA
21 STAGE 5: PORTFOLIO VALUE CREATION | geographic), its branding guidelines, its marketing messages, marketing channels, marketing plans, and have developed key marketing tools (logo, website, document templates [word, ppt, excel]).
● The company has adopted the OKR system to manage the company, and all management and their respective teams know their unit’s quarterly OKRs and monthly key results.
AMP ● Legend ● Monthly Manager
Meeting Process/Checklist:
All Hands meeting held with owners and SGS team to introduce SGS team and explain how decisions and management will be handled going forward per the First 180-Days Project Plan
All Hands social / meal held to meet all staff SGS Team
Day 5
❏
Day 30 Complete the company’s five-year strategic plan and annual management plan A gender-smart planning team is established from within the company and with the SGS team
❏
❏
❏
❏
Friday Week in Review meeting held at 5pm to review “I Musts” and plan next week
❏
❏
Day 15 Implement weekly Legend and daily calendar with management
Hold all staff meeting to introduce and empower SGS team
Statement made by owners and SGS team about the importance of gender-equality and how becoming a gender-smart company will be key to the company’s future growth
22 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLIST RESPONSIBLE
❏
❏
All Hands email sent to all staff, with message about gender-equality and the roles and responsibilities of the new SGS team and the current owners and management
Five-year strategic plan finalized into two-to-threepage SMART objectives and initiatives and shared with management AMP and budget developed, aligned to five-year SGS Team
❏
Monday Legend meeting held at 9am - all management set three “I Musts” and map time to their calendar Wednesday Standup meeting held at 9am to check in on “I Musts”
All management is using their calendar for meetings and project work on their “I Musts” SGS Team
❏
23 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLIST RESPONSIBLE strategic plan, and presented to Board ❏ AMP and budget submitted to AM team for review and approval ❏ AMP and budget submitted and approved by Board ❏ Final AMP and budget targets shared with management and specific Objectives assigned to specific units / managers Day 30 Setup quarterly OKR system for management ❏ SGS team trained management on the OKR system, how to develop OKRs ❏ Quarter’s OKRs developed by all management ❏ Management meeting held for all management to present their unit 30-, 60- and 90-day plan (OKRs) ❏ SGS COO scheduled monthly management TvA meetings ❏ TvA for the first 60- and 90-days are report shared with SGS and AM teams and the Board All Managers Day 45 Share annual goals with all staff ❏ Management team can articulate the company’s guiding statements, five-year strategic SMART objectives, and annual goals ❏ All Hands meeting held to present the AMP goals, managers, titles, org structure, and OKRs and KPIs by division ❏ Gender-smart signage put up throughout the facilities SGS Team Day 90 Hold one-on-ones coaching with managers ❏ SGS team trains management on CFR system (conversation, feedback, recognition) ❏ SGS team runs monthly CFR meetings with direct reports SGS Team
● Targets versus Actuals (TvA) for the AMP, Budget, and Quarterly OKRs must be reported to the AM Team and Board each quarter, and no later than the 15th of the month following the end of the quarter.
24 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLIST RESPONSIBLE ❏ SGS team submits monthly feedback on management team performance ❏ SGS COO prepares updates to staffing plan ❏ SGS COO presents update staffing plan to AM team and Board for approval Day 90 Implement disciplines audit of management ❏ SGS COO shares disciplines review report with Asset Management team ❏ SGS COO completes discipline review of current management ❏ Corrective action plan developed SGS Team
We immediately build a strong project management function at the top of the company. This will initially be led by the fund manager’s SGS team to show management what good looks like.
Step1.b:ImplementCorporateGovernanceChecklist
Standards:
● Aggregate and individual percentage (%) accomplishment of weekly “I Musts” should be tracked by the SGS team leading the Unit and corrective action plans should be developed for any team member consistently missing their I Musts.
Meeting disciplines taught during The Gender-Smart Exec’s Program will be strictly enforced.
Outcomes:
● Board commits in writing to become a gender-smart company within 24 months.
● All of the activities executed by the fund manager’s SGS team in the first 180 days assume that everyone that is on the SGS team and working with the SGS team has taken the Exec’s Program.
● A management dashboard of financial and operational KPIs should be reported to the Asset Management team on a monthly basis.
● A governance weekly checklist has been created and the executives in training have been on how to use them.
25 STAGE 5: PORTFOLIO VALUE CREATION |
● The Board has committed to building a gender-balanced executive team within 24 months.
● The Company has a functioning Board (or advisory board).
ToolsandSOPs: ● Setting up and managing a gender-smart Board SOP ● Running effective Board meetings SOP ● Board code of ethics tool ● Board diversity charter tool ● Board minutes tool Process/Checklist:DEADLINECHECKLIST RESPONSIBLE Day 30 Establish the Board ❏ Board members appointed ❏ First Board meeting scheduled and held ❏ Board positions named ❏ Board code of ethics policy signed ❏ Board diversity charter adopted/signed ❏ Board commitment signed to make the company gender-smart within 24 months AM Team
● The Board has committed to bringing on women and men into Board positions (advisors or voting).
● The organizational structure and gender-equal management compensation has been set by the board.
● Management understands how to set up, run and manage a gender-diverse board.
● The company is willing and able to generate timely and accurate financial and management reports for the Board and Asset Management team.
● The annual management plan (AMP) and annual budget have been approved by the board.
● The Board has committed to making the company gender-smart within 24 months and that it is a key part of the company’s growth strategy.
❏ Recruitment
26 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLIST RESPONSIBLE ❏ Board meeting schedule set (monthly for first 6 months, then at least quarterly)
Day 60 Commit to becoming a gender-smart company* Organizational chart approved by Board of Directors plan to fill any vacant positions in the management team, and development plans for key management members has been presented and approved by to Board made in writing and saved SGS Team and Company Board
❏ Commitment
❏
❏
❏ Management
*Starts
Day
❏
Standards
● The
Day 60 Update management compensation* Compensation plans (ensuring gender pay equity) have been set for key management positions, based on performance objectives linked to the AMP and annual budget and presented to and approved by Board SGS Team and Company Board Day 90 Approve third-party auditor The Board has approved an external auditor; audit schedule and review process are in place AM Team and Company Board 60 Agree on management reporting frequency and format sends Board Reports, including accurate financial statements, three business prior all Board meetings. Board approves report format and frequency SGS Team and Company Board during Stage 3: Due Diligence as part of the work done to complete the First 180-Days Statement of Work and First 180-Days Project Plan : Board must meet monthly for the first year, and quarterly thereafter.
❏
●
● Staff have received job-specific training on their SOPs.
● Quality control function has been established and reports to the COO.
All staff commit to relevant national and internationally-accepted health and safety laws and/or practices – in general, follow a “no broken windows; no broken lights” policy.
27 STAGE 5: PORTFOLIO VALUE CREATION |
● An operations weekly checklist has been created and the executives in review having been trained on how to use them. KPIs reporting template.
● KPIs are being tracked and baseline data, targets and improvement plans have been developed and started implementation.
ToolsandSOPs: ●
Outcomes:
● All Board meetings must be captured in meeting minutes and signed by the Board members.
● The company is positioned to receive international certifications per the industry/sector in which it operates.
● SOPs are documented.
● The operating premises of the company is dramatically improved, and staff feel a sense of pride.
Step1.c:ImplementOperationsandFacilitiesChecklists
● Operating dashboard has been developed and is being updated daily/weekly.
The SGS COO will oversee a facilities improvement program to enhance the cleanliness of the work environment, eliminating broken equipment and other facilities issues. Then the SGS COO will oversee a workplace enhancement program. After this, the focus will be on getting operating procedures documented in SOPs, tracking KPIs for key operating activities and reporting on those KPIs, training the team on how to execute those procedures to the standards of the company, and working on operation enhancement protocols (Kaizen) to improve KPIs.
Process/Checklist:DEADLINECHECKLIST RESPONSIBLE Day 30 Enhance Facilities – Increase Workplace Pride ❏ Facilities before pictures taken* ❏ Facilities improvement plan developed* ❏ Facilities improvement plan implemented ❏ Facilities enhancement completed SGS Team
28 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLIST RESPONSIBLE ❏ Facilities after pictures taken ❏ Facilities manager named ❏ Facilities management standard operating procedures (SOPs) developed ❏ Facilities standards daily and weekly checklist created ❏ No broken windows ❏ No lights out ❏ No trash anywhere ❏ No chipped paint - fresh painted facilities ❏ No piles of unnecessary parts or equipment ❏ Labels and signage for certifications clear and touched up ❏ Company logo and key messages free of blemishes ❏ Guard area clean and uniforms neatly pressed ❏ Staff wearing uniforms ❏ Daily facilities scorecard report presented to SGS COO at COB each day ❏ New facility commissioned and open house hosted (press / PR event) Day 90 Enhance production process ❏ Production processes mapped in flow chart* ❏ Production improvement plan created (business process reengineering) ❏ Production KPIs baselined* ❏ BPR plan implemented and KPIs tracked and reported to COO ❏ Production SOP plan drafted* ❏ Production SOPs written and approved by SGS COO ❏ SOPs put into operating manual (playbook) SGS Team
29 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLIST RESPONSIBLE ❏ SOP review/update schedule developed and mapped to calendars ❏ Operations team trained on SOPs Day 90 Implement Quality Control / Quality Assurance System ❏ Quality control system designed and documented in SOP ❏ Quality control manager hired ❏ Quality control report developed ❏ Quality control system and reporting commenced Local Team Day 90 Corporate Dashboard and Reporting ❏ Corporate production, operations and financial KPIs determined ❏ Dashboard SOP developed ❏ Dashboard owner named ❏ Dashboard shared with Board ❏ KPIs baselined ❏ KPI improvement plan and targets developed ❏ KPI improvement plan implemented ❏ Daily, weekly and monthly dashboard reports begin SGS Team Day 180 Procure and Install Machines Per Investment Plan ❏ Three contracts gathered from machine suppliers (if applicable and should have been done during preinvestment)* ❏ Contract signed with machinery supplier to purchase machines and building renovation ❏ Layout plan documented ❏ Layout modifications implemented by facilities team ❏ Facilities layout and specs reviewed and approved by SGS Team
30 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLIST RESPONSIBLE vendor ❏ Equipment shipped ❏ Equipment arrived, installed and tested ❏ Training on equipment provided to operations team ❏ Equipment operations and maintenance SOP documented ❏ Spare parts purchased and supplier information documented ❏ Machines commissioned Day 90 Supplier Engagement Enhancements ❏ Raw material suppliers catalogued* ❏ Raw material spec sheets created* ❏ Raw material supplier products tested* ❏ Raw material RPFs developed and shared with suppliers ❏ Supplier proposals reviewed ❏ Suppliers selected ❏ Supplier agreements prepared ❏ Supplier agreements signed ❏ Sourcing started with suppliers SGS Team * Starts during Stage 3: Due Diligence as part of the work done to complete the First 180-Days Statement of Work and First 180-Days Project Plan Standards: ● No lights out and no windows broken. Step1.d:ImplementFinanceandAccountingChecklist “We commit to closing the books every month and using a 90 day or 13-week cash flow every day or week.”
● The Company has defined gender-smart KPIs and monitors them through regular internal reporting.
●
● The Company has a good accounting system with appropriate internal controls.
Outcomes:
● The Company produced timely and accurate financial statements 15 days from the end of the month. The Company has and tracks their financial performance against an annual budget.
● The Company and accounting team have and use a finance manual.
● A finance and accounting weekly operating checklists created and the executives in training have been on how to use them.
31 STAGE 5: PORTFOLIO VALUE CREATION |
The SGS CFO will initially implement a 13-week or 90-day cash flow forecast tool. This helps the SGS CFO understand the status of the suppliers and customers, receivables aging schedule, payables aging schedule, and begin tightening the accounting system.
ToolsandSOPs: ● Finance manual tool ● Annual budget tool ● 13-week cash flow tool ● Closing checklist tool ● Finance Board report tool Process/Checklist:DEADLINECHECKLIST RESPONSIBLE Day 15 Commence Daily/Weekly Cash Management ❏ 13-week or 90-day cash flow forecast developed ❏ Weekly cash flow forecasting commenced ❏ Receivables and payables aging report and 13week cash flow (13 WCF) shared with management every Monday SGS Team Day 30 Finalize and Track Annual Budget Targets vs Actuals ❏ 12-month budget developed* ❏ 12-month budget approved by Board SGS Team
● The Company uses a 13-week/90-day cash flow.
32 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLIST RESPONSIBLE ❏ 12-month budget shared with management and targets assigned to departments ❏ Monthly TvA report developed Day 60 Due Diligence Corrective Action Plan ❏ Corrective action plan developed to address issues flagged in due diligence and included in the First 180-Days Project Plan* ❏ All due diligence issues resolved ❏ Bank account and cash withdrawals and check writing owned by SGS team ❏ Issues resolution document presented to Board SGS Team Day 30 Monthly Financial Closing and Reporting ❏ Monthly finance report template approved by SGS CFO ❏ Closing procedure developed and documented in finance manual ❏ KPIs developed for finance department ❏ Daily, Weekly, Monthly, Quarterly KPI report approved by SGS CFO ❏ Daily and weekly KPI reporting commence and presented to SGS CFO SGS Team Day 60 Build Accounting and Finance Team ❏ SGS CFO evaluates accounting and finance department functions and identifies what is working and not working* ❏ Finance team interviewed* ❏ Opinion report on the finance and accounting function presented to the AM team* ❏ Finance manual drafted with controls and SGS Team
33 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLIST RESPONSIBLE procedures* ❏ Finance org structure and team hired ❏ Finance and accounting team review of finance manual ❏ Finance and accounting team sign code of ethics form and finance and accounting manual ❏ SGS CFO approved finance and accounting manual and accounting team roles and responsibilities Day 60 Restructure and Control Cost ❏ Detailed costing completed* ❏ Cost cutting / reducing strategies developed* ❏ Revised product costing / pricing model completed* ❏ Revised cost schedule and cost improvement plan developed* ❏ Costing schedule approved by SGS CFO ❏ Costing schedule implemented and monitored, with TvA reported to SGS CFO and SGS COO ❏ New costing assumptions revised in the model and budget, pricing strategies devised with the marketing team and revised reforecast shared with SGS COO and Board SGS Team Day 90 Develop Plan to Improve Profitability/EBITDA Growth ❏ Profit or growth strategy defined* ❏ 90-day profit improvement plan developed ❏ 90-day profit improvement plan approved by board ❏ 90-day profit improvement plan started SGS Team Day 180 Begin Identifying Investments SGS Team
● The books must be closed by the 5th of the month, financial statements generated by the 10th of every month, and final financial statements sent to SGS CFO/investment fund by the 15th along with a short report and budget TvA.
○
Step1.e:ImplementHumanResources
Checklists
The Company has a clear advancement plan for key positions ensuring equal opportunity and women’s career advancement.
The SGS COO will initially improve the company’s HR manual and policies to move the company towards becoming gender smart. The SGS COO will then set up an internal training program, which may be run out of a central location if multiple companies utilize it, to keep management sharp on The Gender-Smart Exec Program disciplines they were trained on prior to the investment closing. A major element of the Playbook’s Theory of Success is that companies that create a highly engaging learning environment for their employees will perform well. Outcomes:
● The 13-Week Cash Flow must be used and updated weekly.
○
○
● An HR weekly operating checklist has been created and the executives in training have been on how to use them.
● Internal training and human capital development program developed for management providing two hours of training each week within 60 days.
● HR policies updated within 45 days (adopting the Gender-Smart Employee Handbook): The Company has enhanced recruitment strategy with a gender lens. The Company has an enhanced benefits package ensuring pay equity and gender-smart benefits.
34 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLIST RESPONSIBLE ❏ Investment plan developed* ❏ 180-day capital investment plan developed ❏ 180-day capital investment plan approved by board ❏ 180-day capital investment plan started *Starts during Stage 3: Due Diligence as part of the work done to complete the First 180-Days Statement of Work and First 180-Days Project Plan Standards
● Management commits to begin “a gender-smart workforce.”
35 STAGE 5: PORTFOLIO VALUE CREATION | ToolsandSOPs: ● Gender-smart employee handbook ● The Gender-Smart Exec’s Program curriculum Process/Checklist: DEADLINE CHECKLIST RESPONSIBLE Day 15 Gender-smart HR policies and manual adopted through the Employee Handbook ❏ HR manual reviewed - gaps identified* ❏ Interviews held with staff* ❏ Gender-smart HR desired state defined, and gap analysis defined* ❏ HR gender-smart improvement management plan developed to address issues flagged in due diligence and included in the First 180-Days Project Plan* ❏ HR improvement plan implemented ❏ Employee Handbook tailored to the company’s specific needs with desired, gender-sensitive policies and procedures ❏ All Hands meeting held to review improvements with staff ❏ Employee Handbook shared with staff ❏ Employee Handbook signed by staff ❏ New Employee Handbook rolled-out at Company SGS Team Day 30 Management Training Program developed ❏ Training schedule developed ❏ The Gender-Smart Exec’s Program training refresher (i.e., a refresher “bootcamp” and deep dives into the training program topics) ❏ All management receive training SGS Team Day 30 Position agreements created* SGS Team
● The management commits to “creating gender-smart products and services for gendersmart consumers.”
ToolsandSOPs: ● Sales pipeline ● Branding guide
ObjectivesStep1.f:ImplementMarketingandSalesChecklist:
●
Work and
●
36 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLIST RESPONSIBLE ❏ Position agreements (PA) developed for all managers (gender-smart) ❏ PAs developed for all managers’ direct reports ❏ PA meetings held ❏ PA signed Day 90 Gender-smart workplace enhancements made ❏ Gender-smart signage developed ❏ Gender-smart signage placed in the workplace ❏ Surveys conducted to baseline gender-smart scores SGS Team
●
●
● The Company has clear roles and responsibilities defined for its sales and marketing teams, a marketing plan, a sales management system, the marketing and sales tools (collateral, website, brochures, pipeline) needed to increase top-line growth. A marketing and sales weekly operating checklist has been created and the executives in training have been trained on how to use them.
*Starts during Stage 3: Due Diligence as part of the work done to complete the First 180-Days of First 180-Days Project Plan
Statement
●
Standards: Managers should receive 2 hours of training per week for the first-year, post-investment. Training hours, attendees should be tracked for all management. SGS should report on the % of management team that are women and men, and employees who are women and men. SGS should run gender-smart employee surveys on a regular basis.
37 STAGE 5: PORTFOLIO VALUE CREATION | ● Marketing strategy ● Marketing plans Process/Checklist:DEADLINECHECKLISTS RESPONSIBLE Marketing strategy and plan developed ❏ Five gender-balanced customer interviews held* ❏ Five competitors assessed* ❏ Marketing and sales strategy developed with a gender lens* ❏ Marketing strategy enhanced with gender-smart best practices ❏ Marketing OKRs and plans developed for the year ❏ Marketing OKRs set SGS Team Marketing collateral created/updated ❏ Marketing collateral and logo assessed including for gender-balance* ❏ Marketing firm selected (assessed for expertise or openness to being gender-smart), if needed and in the approved budget, to develop a marketing plan, brand strategy, to accomplish the sales targets outlined in the budget ❏ Enhanced branding guidelines; updated the logo, website, packaging, marketing collateral; promotional strategies developed; pricing strategy developed SGS Team Sales SOP created ❏ Company’s gender-smart sales process documented ❏ Company’s sales pipeline and tools reviewed and updated SGS Team
● Marketing and sales KPIs must be tracked weekly and reported to the SGS team.
Marketing
established ❏ Weekly
❏ Gender-smart
38 STAGE 5: PORTFOLIO VALUE CREATION | DEADLINE CHECKLISTS RESPONSIBLE
● To show the executive team what good looks like through apprenticeship and coaching.
Distribution system enhanced distribution plan and sales channels, or preparing a sales pipeline with a lead generation system to find, track, and move leads from prospects to closing SGS Team and sales battle rhythm commenced marketing and sales meetings marketing and sales KPIs gathered reported SGS Team
From the sixth month to the end of the second year, the SGS team will operate the key management functions of the company while training a cadre of local gender balanced managers. Regular training programs will be run in-person and/or virtually before or after working hours (like an executive MBA program). The SGS team will spend an average of one full day per company per week at a company. Heavy emphasis will be placed on monitoring the implementation of SOPs and checklists and driving the accuracy and timeliness of reporting from the portfolio companies.
Outcomes:
● To be customized based on the type of company.
● To develop a high-performing gender-balanced local executive team that knows what good management looks like.
and
During this time, the SGS team will step in to make decisions, and in some cases do the work of the executive in training. By the end of the operate period, the executive in training should be doing all of the work, and the SGS team member will be reviewing and coaching the executive in training.
STEP 2: OPERATE
❏ Weekly
*Starts during Stage 3: Due Diligence as part of the work done to complete the First 180-Days Statement of Work and First 180-Days Project Plan Standards:
2. Work at the business no less than one day per week:
● SGS COO manages the SGS team and organizes the monthly and weekly work plans.
● The training / technical assistance team must support trainings held in-person or virtually; cover logistics, AV, content, etc.
a. The local managers – executives in training – will all be required to attend a rigorous training program every week that will cover a number of topics that they were trained on in The Gender-Smart Exec’s program (i.e., a refresher “bootcamp” and deep dives). b. Managers will be tested. c. Readings will be assigned.
1. Run bi-weekly group executive training sessions:
a. Every month the SGS team will present the status of each portfolio company to the IIC via a performance dashboard. The dashboard will have impact, financial and operations KPIs, as outlined from the CIM – which provides the baseline and target values. Actuals will be presented against targets and a variance analysis will be presented with corrective action plans
d. Case studies from the fund’s portfolio companies will be presented and the team will collectively work through solutions.
Standards:
● All checklists will be reviewed every time an SGS team member goes to a company.
● All SGS team members must run training programs and apprentice and coach management.
Process:
● Violations or non-compliance with the checklists will be documented.
b. Each department (i.e., HR/Administration, Finance, Sales) should have a checklist that is to be completed by the executive in training. The first thing the SGS team member does when coming to a company is to review their checklists. This discipline will send a message to the executives in training that their work will be routinely monitored and evaluated.
● For a team of three SGS executives to comfortably manage a portfolio of between five companies at a time.
a. SGS COO will set the monthly targets and work plan for the month and each week for the SGS team; all three may work at a company for a full day or rotate for half day working sessions between companies. No more than two companies should be supported per day.
3. Monthly company performance reviews:
● Three violations result in immediate termination.
39 STAGE 5: PORTFOLIO VALUE CREATION |
STEP 3: TRANSFER
Process: 1. Evaluate the executive in training:
Outcome:
3. Transition executive in training: a. Hold management team meeting to announce the promotion. b. Hold all hands meeting to announce the promotion.
4. Run refresher trainings. 5. Move SGS to advisory Board function.
Standards:
● All checklists will be reviewed every time an SGS team member goes to a company. ● Violations or non-compliance with the checklists will be documented.
a. All executives will be evaluated by the SGS team against their ability to work with other team members / executives, to implement their systems to the standards outlined in the SOPs, and to achieve their OKRs.
40 STAGE 5: PORTFOLIO VALUE CREATION |
From the 24th month to the end of the third year, the SGS team will move from weekly trainings, managing work on site and weekly site visits, to spot-checks, coaching and mentoring. Local managers will have assumed most of the responsibilities for their executive position. They will begin grooming and training their teams. Here, the SGS team plays a coaching role – one-onone meetings with the executive, attending meetings they are leading as an observer, and reviewing their operational and financial performance. The goal is to build up the executive in training to a point where they become fully accountable for their executive position.
● To fully transition executive duties from SGS to a gender-balanced executive team at the operating company level.
● Three violations result in immediate termination.
2. Coach executives in training: a. Quarterly one-on-one coaching sessions held with the exec – following the CFR model.