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Can your business run a marathon - or only a quick sprint?

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Small businesses in regional areas have to cope with commodity price booms and busts. They need to build the resilience to last the marathon of long-term sustainability, not just the boom-time sprint.

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Can your business run a marathon - or only a quick sprint?

  1. 1. Can your business run a marathon? - or only do a quick sprint? Building Sustainable Business Communities Moranbah March 12th, 2015 1 Bronwyn Reid bronwyn_reid Mining For Business b.reid@miningforbusiness.com.au
  2. 2. Business fitness – one size (almost) fits all 2 Source: bodybeyondbaby.com.au
  3. 3. “The Boom”– what happened? 3
  4. 4. Why did this happen? 4
  5. 5. 5 Sprint Marathon
  6. 6. Will it happen again? 6Source: energyindepth.org
  7. 7. What can I do about it? •Fitness for the long term •Start training now! •What sort of training? •Range of skills, or just one event? •Bowen Basin Business Development Strategy 7 Source: bodybeyondbaby.com.au
  8. 8. The Business Journey 8 Source: healthandfitnessblend
  9. 9. How businesses grow 9Source: keypersonofinfluence.com.au The business journey 70% 20% 6% 4% STARTUP Excitement Optimism STRUGGLE ZONE No money No time Stress Burnout LIFESTYLE Liquid Flexible Fun PERFORMANCE Wealth Scale Strategic Listing? STRUGGLE Growing pains Firefighting Time consuming
  10. 10. 10
  11. 11. What can I do about it? Decode the Buyer  Simplify the complexity  Tell your story 11
  12. 12. What can I do about it? Understand the game rules  Practice your set-piece plays  Organise your publicity 12 BMA Tender Templates
  13. 13. Decode the Buyer Understand the rules of the game Introduce yourself Stakeholder engagement
  14. 14. Understand what they want •How supply chains work •Supply chain risk 14
  15. 15. 15
  16. 16. Understand what they want - clues •Cheap •Hard dollar savings •Cost avoidance •Value – how is it measured •Innovation 16
  17. 17. Understand what they want Productivity improvement is the biggest risk facing mining and metals companies worldwide for 2015 17
  18. 18. 18Source: ABS
  19. 19. 19Source: www.miningprocurement.com.au
  20. 20. 20Source: www.miningprocurement.com.au
  21. 21. Do you have what it takes? •Reduce •Rationalise •Simplify 21
  22. 22. Simplify The Complexity Practice your set piece plays 22Tender Templates
  23. 23. Systems – what? 23
  24. 24. The essentials • Capability Statement • Health and Safety • Quality • Environmental • Risk Management
  25. 25. The rest •Financial •Time •Human Resources •Operations •Project •Tender 25
  26. 26. Systems are an asset •Consistency •Cost •Control • Stress • Risk •Business Value 26
  27. 27. Know your costs •How do you measure your output/product/service? •How does your client measure it? •$ per what? 27 What makes up a good Tender Response
  28. 28. 28
  29. 29. Keeping (and staying) organized 29
  30. 30. 30Stakeholder engagement
  31. 31. 30.6 19.1 18.8 10.6 8.1 7.7 3.4 1.8 0 5 10 15 20 25 30 35 Online Recommendations Publications Trade Association/Conference Speaking Already know the expert List of Top Experts Other % How potential purchasers find experts How do they find you? 31 Source: Hinge Marketing
  32. 32. How do they check you out? 32 80.8 63.2 62.4 59.9 55.5 0.7 0 10 20 30 40 50 60 70 80 90 Look at their website Search online ('Google' them) Ask friends or colleagues Social Media Contact a reference they provided I don't check them out % How buyers 'check out' potential service providers Source: Hinge Marketing
  33. 33. Digital presence •Website •Social media •Procurement sites 33
  34. 34. Tenders •Good compliance •Well priced •Persuasive story •Strong positioning 34 Tailored tender responses
  35. 35. Tenders 35 Tailored tender responses Source: www.miningprocurement.com.au
  36. 36. Tenders •Don’t do it the night before (They can tell) •Be strategic •Is it real? •Do we want it? •Can we afford it? •Can we win it? •Can we do it? •Calculate your ROI 36
  37. 37. Seth Godin • Job creation/job destruction • It's easy to defend the status quo, except when the very foundation you've built everything on disappears. Incrementalism ceases to be a good strategy when there's a cliff on the route. 37
  38. 38. What to do? Understand your buyer  Get systemized Consistency Control Cost Create Value  Tell your story 38
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