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© David Hall 2006
Chris White – CEO, merit
Welcome to today’s event
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House Keeping
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Professor David Hall
To grow or consolidate – do we have a choice?
David Murray – Managing Director of Kirona
Successful integration of IT and business strategy
Today’s Presenters
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TO GROW OR CONSOLIDATE- Do we have a choice?
David Hall
December 2006
In Association with
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Why Growth?
“Fundamentally the purpose of business is to create wealth. This is achieved by growing the business”
Richard Branson, Virgin
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Growth Opportunities
’95% of all the innovations in products and services world-wide over the last one hundred years have come from firms employing less than 20 people’.
Source: New Venture Creation, J A Timmons
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The Growth Challenge
Entrepreneurial Firms achievement culture
– Informal– Trust– Intuition– Synthesis– Ownership– Autonomy– Risk Taking– Breaking the rules
Corporate Business power and control culture
– Order– Formality– Planning– Analysis– Systems– Bureaucracy– Politics
– Rule Compliance
© David Hall 2006
The Seven Step Approach to Successful Business Growth
1. Get the right people on the bus.2. Develop a compelling vision.3. Get in shape.4. Create superior opportunities.5. Work on the business.6. Invest in your systems.7. Enjoy success!
© David Hall 2006
1. Get the right people on the bus
Test Questions
1. How often do your key people produce results beyond your expectations?
2. If you had a clean sheet of paper how many of your current teams name’s would be on the team sheet?
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Headship
Management
Leadership
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People: Action
1. Pick the right people.
“Investment in selection beats training 1000 times over”
Wyatt Woodsmall, Coach to USA Olympic Team
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2. Develop a compelling vision
Test Question
1. Does your vision inspire you and your people to produce outstanding results?
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Vision: Action
1. If you don’t have a vision describe the future of your business in ‘X’ years time as you want it to be.
Make sure everyone in your business understands your vision and how they can add value to it.
© David Hall 2006
3. Get in Shape
Test Question
1. How do you know you are as lean and mean as possible?
– Efficient– Low cost– Productive
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Shape: Actions
1. Conduct a ‘fixing system slippage’ project.
2. Monitor and control the six key financial indicators.
© David Hall 2006
‘When I see a thick manual I know I am looking at a slow company that is struggling under excess baggage’
Tom Peters
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4. Create Superior Opportunities
Test Question
1. Do you have any superior opportunities?– High growth margin– Defensible competitive edge– Media and investor interest– Very positive future profit potential
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Opportunities: Action
1. Use the PS/PS process to create superior opportunities.
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Problem Seeking – Problem Solving
1. Find a lead customer.2. Appoint a project champion.3. Select the entrepreneurs within.4. Create an achievement culture.5. Go problem seeking.6. Turn problems into solutions.7. Sell the solutions to other customers.
© David Hall 2006
5. Work on the business
Test Question
1. Do you have an effective process for working on your business?
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Work: Action
Ensure your business team focuses effortson actions that will deliver your vision.
‘Working on the business normally producesresults six times expectations’.
David Hall
© David Hall 2006
6. Investment in your systems
Test Question
1. Do your systems and processes provide competitive advantage to your business?
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Systems: Action
1. Share your business strategy with your IT resource and ask them to help you to use technology to gain and maintain competitive edge.
© David Hall 2006
7. Enjoying success
Do you really need me to tell you how to do this….
© David Hall 2006
To grow or consolidate –do we have a choice….
© David Hall 2006
Good luck in growing your business!
www.davidhalluk.com
