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- 1. www.growthaccelerator.com Change management: Navigating your high growth journey Presentation byRichard Crooks
- 2. Change Management January 2013 hello 2
- 3. Change Management January 20133
- 4. Change Management January 2013 “The ability to learn faster than your competitors may be the only sustainable competitive advantage” Arie de Gues 4
- 5. Change Management January 2013 Summary of today Change in your business Change in your people 01 02 5
- 6. Change Management January 2013 Our roadmap for this morning Change in your business 1. Visioning Orbit (touch on briefly) 2. Red Ocean / Blue Ocean thinking 6 Change in your people 3. X model Engagement 4. The Golden Circle
- 7. Change Management January 2013 Any kind of change can feel like a crisis…
- 8. Change Management January 2013 1. Change your business 8
- 9. Change Management January 2013 The competition changes you and your business You initiate the change that you want to create in the market Low growth thinking High growth thinking 9
- 10. Change Management January 2013 if you don‟t know where you‟re going all roads lead there!
- 11. Change Management January 2013 Investors in People 5% reduction 3% reduction 3% reduction £100k -£400k -£600k Articles in Trade Press Featured on local radio & TV 11(2) 18(2) 28(3) ABC Limited Preferred supplier to 3 national health OEMs 50% automotive 40% medical 10% aerospace £1.2 mil £2.3 mi £4 mil 30% automotive 70% medical 0% aerospace Self-Managing Teams Preferred supplier to 3 regional health OEMs Preferred supplier to 3 Manchester health OEMs DEF Limited GHI Limited China Europe National Profit Centres with Bonus scheme 20% 45% 75% Av. value - projects Net Promoter Score Net Profit Turnover £ No. of partners / route to market Key Markets No. of employees No. of customers (projects / retainers) Apr 13 / Mar 14 Apr 14 / Mar 15 Apr 15 / Mar 16 Av. Value - retainers Blend of business 9 £720K (40%) 50 / 55 13 10 (40%) £1.8M £800K new £250K existing £800K retainers East Mids./Nat ional (50/50) £16K £14.5K 8.5 £420K (35%) 40 /40 12 £1.2M £600K new £200K existing £350K retainers £50K recurring £15K 7 (30%) East Mids./National (60/40), incl. Notts. £8.75K £14K 8 £240K (30%) 35/ 32 10 £500K new £150K existing £120K retainers £30K recurring £800K East Mids./Natio nal (80/20) incl Sheffield, 10+ £3.75K 4 (20%)
- 12. Change Management January 2013 Changing your business Red Ocean thinking To create a compelling point of difference to your competitors 12
- 13. Change Management January 2013 Contested market strategy Blue Ocean strategy Compete in existing market space Create uncontested market space Beat the competition Make the competition irrelevant Exploit existing demand Create and capture new demand Make the value-cost-trade-off Break the value-cost trade-off Strategic choice is differentiation or low cost Strategic choice is differentiation and low cost13
- 14. Change Management January 2013 Differentiation or low(est) cost …your compelling point of difference? 14
- 15. Change Management January 2013 Differentiation …increasing value for your customer 15
- 16. Change Management January 2013 What value do you provide / do you customers seek? 16
- 17. Change Management January 2013 Core & Surround 17
- 18. Change Management January 2013 WHAT IF? My business was run by Virgin Disney Apple etc. 18
- 19. Change Management January 201319
- 20. Change Management January 2013 Exercise: Alternative Grid in your industry In pairs: • Define what your product or service delivers in terms of value • Choose a „differentiation‟ tool • Apply that tool to your product or service – how can you increase value to the customer? 20
- 21. Change Management January 2013 Changing your business Blue Ocean thinking To create uncontested market spaces ripe for growth 21
- 22. Change Management January 2013 Red Ocean…growth will always be limited by the fact that there is both stiff competition and fewer customers Blue Ocean…if we create new uncontested markets we make our competitors irrelevant and invest fresh markets ripe for growth 22
- 23. Change Management January 2013 Contested Market Strategy Blue Ocean Strategy Compete in existing market space Create uncontested market space Beat the competition Make the competition irrelevant Exploit existing demand Create and capture new demand Make the value-cost-trade-off Break the value-cost trade-off Strategic choice is differentiation or low cost Strategic choice is differentiation and low cost Game enhancer or game changer?
- 24. Change Management January 2013 Strategic innovation Value Increase Cost reduction Strategic Innovation Company actions favourably affect both cost structure and value proposition 24
- 25. Change Management January 2013 Create Which factors should be created that your industry has never offered? Raise Which factors should be raised well above the industry's standard? Reduce Which factors should be reduced well below the industry‟s standard? Eliminate Which of the factors that your industry takes for granted should be eliminated? Disrupting the market Costs Value 25
- 26. Change Management January 2013 Exercise: Eliminate| reduce| raise| create 26
- 27. Change Management January 2013 Think you’re in a tough industry? • Declining industry • Very limited growth • Supplier power high • Buyer power high • Negativity about using animals • Seat prices tumbling 27
- 28. Change Management January 2013 Cirque du Soleil 28
- 29. Change Management January 2013 The strategy canvas of Cirque du Soleil Price Star performers Animal shows Multiple show arenas Fun and humour Thrills and danger Unique venue Aisle concessions Smaller Regional Circuses Low High Amount company offers buyers Factors the industry competes on Ringling Bros. and Barnum & Bailey 29
- 30. Change Management January 2013 Create Raise Reduce Eliminate Eliminate |reduce| raise| create: Cirque du Soleil • Star performers • Animal shows • Aisle concession sales • Multiple show arenas • Unique venue • Fun and humour • Thrill and danger • Theme • Refined environment • Multiple productions • Artistic music and dance 30
- 31. Change Management January 2013 Three elements to a great growth strategy 3. TAG LINE: RE-INVENTING CIRCUS Animal shows Multiple Arenas Thrills & Danger Unique venue Fun/ Humour Artistic music/dance Refined environment 2. DIFFERENTIATION Price Large Nationals Cirque du Soleil Low Hig h Smaller Regionals 1. FOCUS: Eliminate… • Star performers • Animal shows • Aisle concession sales • Multiple show arena • Unique venue • Fun and humour • Thrill and danger • Theme • Refined environment • Multiple productions • Artistic music and dance? Raise Reduce Create 31
- 32. Change Management January 2013 Creating uncontested market spaces Considering alternative industries 32
- 33. Change Management January 2013 Considering alternative industries Industry: Principal offering: Alternative industries: (not just substitutes) Bus Transportation of commuters • Car • Trains • Taxis • Trams Bus Train Highly attractive aspects Unattractive aspects Unattractive aspects Focused on most lucrative commuter 33
- 34. Change Management January 2013 Look across alternative industries grid Why customers would choose Why customers would not choose The Bus The Train Relatively cheap No problems with parking No drink & drive problems Town centre drop off Bus lanes – less congestion Good for environment 34
- 35. Change Management January 2013 Look across alternative industries grid Why customers would choose Why customers would not choose The Bus The Train Speed... no traffic congestion Cleaner more comfortable Better class of passengers Easier to find out train times Relatively punctual More comfortable 35
- 36. Change Management January 2013 Look across alternative industries grid Why customers would choose Why customers would not choose The Bus The Train Unpleasant environment Unreliable Vulnerability - possibly unsafe Long, possibly inconvenient route Not knowing when next bus is due Waiting in wind and rain Moody bus drivers Need the “right change” 36
- 37. Change Management January 2013 Look across alternative industries grid Why customers would choose Why customers would not choose The Bus The Train Relatively expensive at peak times Station is not always convenient Got to get to station Have to wait for a train Poor service at non-peak times 37
- 38. Change Management January 2013 3. TAG LINE: 2. DIFFERENTIATION 1. FOCUS Eliminate • Delays caused by congestion • Stigma about using the bus • Complex timetables • Maintenance of older Buses • Buying ticket from driver Raise • Reliability & frequency of service • Directness of service into cities • Green credentials • Level of customer information • Quality / cleanliness image • Commuter targeted marketing Reduce • Waiting times • Boarding time • Stigma about using the bus • The number of buses and drivers • Bad press about old polluting buses • Overall running costs on busy routes Create • Off road transit routes • Deep windows & clear interior space • Cash, Smart card & Mobile ticketing • A real alternative to car drivers • Bus Pilots (rather than Bus Drivers) High Low StreetCar Reliability Comfort & environment Frequency Ticket price Speed of journey Use of E - ticketing Amount company offers buyers Traditional bus Hybrid Traditional train Off road (no congestion) route Running Costs 38
- 39. Change Management January 2013 Wright Bus Articulated StreetCar Light Rail with no rails - Lower capital cost - Shorter lead times Copyright © Wright Group Limited 39
- 40. Change Management January 2013 Create Raise Reduce Eliminate Eliminate | Reduce | Raise | Create: Accounting Firm (alternative industry: creative agency) • Head Office • Partners • Hourly rates / traditional pricing • „An experience‟ • Pro-activity/empathy • Bespoke-ness • Availability – “24/7” • Complexity • Direct staff • Delays • Grey-ness • Transparent pricing • Helpful stuff • Events / community • Relationships 40
- 41. Change Management January 201341
- 42. Change Management January 2013 Exercise: Alternative Grid in your industry • Define what your product or service delivers • Choose an alternative that delivers the same outcome • Use the grid to compare your product/service with the alternative • What could be introduced to your industry? • Which aspects should be removed? Ensure that you look at a ALTERNATIVE INDUSTRY (not a COMPETITOR) 42
- 43. Change Management January 2013 TAG LINE: Eliminate Raise Reduce Create FOCUS Low High Amount company offers buyers & hence invests Costs Value DIFFERENTIATION To take away Blue Ocean canvas You can now begin to develop a full blue ocean canvas for the strategy you have just made using the alternative industries grid for your business 43
- 44. Change Management January 2013 Red vs. Blue Ocean strategies Ask customers how to improve to fuel their growth strategy01 Benchmark against competitors on things that are important to customers 02 Use Blue Ocean strategy?03 Not much growth More growth but is it enough? 44
- 45. Change Management January 2013 Investors in People 5% reduction 3% reduction 3% reduction £100k -£400k -£600k Articles in Trade Press Featured on local radio & TV 11(2) 18(2) 28(3) ABC Limited Preferred supplier to 3 national health OEMs 50% automotive 40% medical 10% aerospace £1.2 mil £2.3 mi £4 mil 30% automotive 70% medical 0% aerospace Self-Managing Teams Preferred supplier to 3 regional health OEMs Preferred supplier to 3 Manchester health OEMs DEF Limited GHI Limited China Europe National Profit Centres with Bonus scheme 20% 45% 75% Av. value - projects Net Promoter Score Net Profit Turnover £ No. of partners / route to market Key Markets No. of employees No. of customers (projects / retainers) Apr 13 / Mar 14 Apr 14 / Mar 15 Apr 15 / Mar 16 Av. Value - retainers Blend of business 9 £720K (40%) 50 / 55 13 10 (40%) £1.8M £800K new £250K existing £800K retainers East Mids./Nat ional (50/50) £16K £14.5K 8.5 £420K (35%) 40 /40 12 £1.2M £600K new £200K existing £350K retainers £50K recurring £15K 7 (30%) East Mids./National (60/40), incl. Notts. £8.75K £14K 8 £240K (30%) 35/ 32 10 £500K new £150K existing £120K retainers £30K recurring £800K East Mids./Natio nal (80/20) incl Sheffield, 10+ £3.75K 4 (20%)
- 46. Change Management January 2013
- 47. Change Management January 2013 Changing your business X model of engagement to win the hearts and minds of your team 47
- 48. Change Management January 2013 Low growth thinking High growth thinking Successful change management is 80% mechanics and 20% emotion Successful change management is 20% mechanics and 80% emotion 48
- 49. Change Management January 2013 What can go wrong when you present a highly challenging high growth visioning orbit and plan? 49
- 50. Change Management January 2013 Copyright Blessing White 50
- 51. Change Management January 2013 Almost engaged Engaged Honeymooners Hamsters Crash & Burners Disengaged Copyright Blessing White 51
- 52. Change Management January 2013 Exercise Mapping your team on the X model of engagement • Consider the key members of your business or team • Assuming you have shared the visioning Orbit with them, • where do they sit on the X model of engagement currently? • Are they all in the “engaged” box or are there some individuals that need your attention to help move them? • Indicate who you would like to move and to where within the next three months • Discuss in pairs 52
- 53. Change Management January 2013 Bob Sue Sam Brian Lee Phil Paul Bill Heather Jed John Mapping your Team on the X model of engagement 53
- 54. Change Management January 2013 Engagement for executive leaders C Develop a community feel to achieving the company‟s growth goals A Authentic… keep it real S Significance… help all employees find greater meaning in their work E Excitement… keep individuals passionate about what they do 54
- 55. Change Management January 2013 Changing your business The Golden Circle to help engage individuals buy into change 55
- 56. Change Management January 2013 People don‟t buy / buy into what you do, but why you do it! Hiring / engaging those “who believe what you believe” 56
- 57. Change Management January 2013 Apple Rogers Architects We believe in challenging the status quo in everything we do. We believe in thinking differently. A building without celebration is just construction 57 Easyjet We believe in making travel easy and affordable.
- 58. Change Management January 2013 Logistics business E-commerce business We love our customers so they can be loved by theirs. We believe in a world of possibilities, through the Internet. 58
- 59. Change Management January 2013 Exercise Golden Circle for your business • Create the 3 circles • Produce the „what‟, „how‟ and „why‟ for your business • How do you communicate to your people and, indeed, your customers? • Do you „keep it real‟ • What areas do you need to work on? • Discuss in pairs 59
- 60. Change Management January 2013 What will you do differently as a result of this session? Start doing Stop doing Do more Do less 60
- 61. Change Management January 201361
- 62. Change Management January 201362
- 63. Change Management January 2013 Changing your business Pain and pleasure matrix to help motivate individuals buy into change 63
- 64. Change Management January 2013 Low growth thinking High growth thinking Everybody is different. You can‟t motivate all the people all the time Everyone is different. However all people are ultimately driven by the motivating forces to avoid pain and attract pleasure all of the time 64
- 65. Change Management January 2013 “The aim of the wise is not to secure pleasure, but to avoid pain.” Aristotle 65
- 66. Change Management January 2013 Pain / pleasure principle is key to help people buy into change and motivated to take action Discuss the pain of DOING it The pleasure of DOING it 01 03 The pain of NOT DOING it The pleasure of NOT DOING it 04 05 Identify what they‟ve been putting off01 66
- 67. Change Management January 2013 DoingitNotDoingit Pleasure Pain Pleasure Pain Grid 67
- 68. Change Management January 2013 DoingitNotDoingit Pleasure Pain Losing weight Pain of doing it • I don‟t like exercise • I haven‟t got time 68
- 69. Change Management January 2013 DoingitNotDoingit Pleasure Pain Losing weight Pleasure of doing it • I‟ll be able to wear THAT swimwear • I‟ll fit my expensive suit / dress • I‟ll feel better and fitter 69
- 70. Change Management January 2013 DoingitNotDoingit Pleasure Pain Losing weight Pain of not doing it • I get tired when I run for the bus • My doctor warned me about my health • I‟ve clothes in my wardrobe that I can‟t get into 70
- 71. Change Management January 2013 DoingitNotDoingit Pleasure Pain Losing weight Pleasure of not doing it • I like the taste of comfort food • It gives me an excuse to buy new clothes • I don‟t have to go to the effort 71
- 72. Change Management January 2013 Winning Lee’s commitment We want Lee to more proactively lead the high growth strategy related to penetrating new overseas markets 72
- 73. Change Management January 2013 DoingitNotDoingit Pleasure Pain Pain of doing it • It‟s a poison chalice… I could easily fail and lose my blossoming reputation with the Directors • Criticism surrounding missing lucrative UK based opportunities whilst away on overseas business • Frustration caused by forms, language, currency... • Even more time than normal stuck in hotels and travelling, away from my family and friends 73
- 74. Change Management January 2013 DoingitNotDoingit Pleasure Pain Pleasure of doing it • The adulation of being the one who lead the company into new more profitable overseas markets when UK growth was slowing • Feeling empowered – shaping my own destiny • Could help me successfully see even more fresh innovations for the business like new product ideas • More exciting than spending everyday in Slough! 74
- 75. Change Management January 2013 DoingitNotDoingit Pleasure Pain Pain of not doing it • Living with the regret that I missed the opportunity to be recognised as the person who took this business to the next level of growth • Feeling guilty if the “UK only” strategy fails to generate sufficient growth to achieve our vision • Jealousy… if one of our competitors won the contract • Further reinforcement of the view that my boss has of me… that I “don‟t think big enough” 75
- 76. Change Management January 2013 DoingitNotDoingit Pleasure Pain Pleasure of not doing it • I can now keep focused on our (my) UK strategies without the disruptions caused by overseas ideas • A feeling of greater security… I‟ve avoided this potentially risky venture • Far more certainty about what I‟m dong day to day • Easy life… less stress and demands placed on me and my time 76
- 77. Change Management January 2013 Getting leverage Ask PAIN-inducing questions Get them to picture what this may look like 01 03 Ask PLEASURE - associating questions Get them to picture what this may look like 04 05 Complete the pleasure pain matrix physically or mentally?01 77
- 78. Change Management January 2013 Exercise: Complete the matrix for one of your staff 1. Consider one of the people you wish to better engage 2. Complete the pain pleasure matrix as you think they may see it. 3. Explain this to the person you have partnered. 4. Role play the conversation where you will be bringing them up to pain threshold by asking PAIN - inducing questions (plus imagery) and PLEASURE – inducing questions (plus imagery) 78
- 79. Change Management January 2013 What will you do differently as a result of this session? Start doing Stop doing Do more Do less 79
- 80. Change Management January 201380
- 81. Change Management January 201381
Notes de l'éditeur
- Good Morning!
- By way of introduction…1. Richard Crooks- high growth space for about 13 years.Google – 885 Million. Used our experience - a few big things – tools and techniques - can make the most difference.The majority of businesses in the UK don’t grow significantly – so it follows that you have to do different things to achieve different results that the masses.
- Practice – best way to learnNo role playsWhy is change management important to a high growth business? Why are you here today?
- Fast growth businesses like you use change to be different, better and faster than the competition. Creators of change to get ahead of the competition, not reacting to change / playing catch up (ahead of the curve vs. behind the curve)
- Change in people – everything else we can change fairly easily – your marketing, your suppliers, your IT, change in people is hard
- The 4 Big Things known to help drive “high growth change” we are sharing with you today are:
- Your attitude change…which I’ll come back to later.Different people have different attitudes to change ….bring it on!….scary
- 9.15
- .
- Or a high growth business…change starts with your vision – a different place you want to be in the future.
- So red ocean thinking is about competing in the existing market space, but doing so effectively through a compelling point of difference.Competitors will catch up…but as they catch up your moving on to the next thing.
- In the red ocean space…you have two options …to differentiate or become the lowest cost producer in the market.Giving more for more, or providing less for less. Waitrose or Aldi of your market? Differentiation or low cost? British Airways or Ryan Air?
- More (value) for more (cost/price)Less (value) for less (cost / price)Need to be lowest cost for sustainability competitive advantage or otherwise others can undercutDon’t mistake this pm More for less…about more return on your time / investment in creating scale / growth and value in the business.
- Is about…They get more value from you than your competitors.Extenduiate the value you provide.
- Most businesses presume that they know what customers value but in actual fact they don’tPoint of differentiation / value giving£2 vs. £2.89 / £1 kg £2.49 300g ….sure an extra cost but outweighed by the extra price.Espace…price….when we asked it was about keeping their own customers happy….making sure that they never let their customers down, so their customers can keep their own happy.
- Seek to deliver greater differentiation or value – useful tool
- Another
- Core & surround: re-positioned to be “Freight Emergency Service” our customers keeping their customer’s happyVirgin – cheeky, uniforms, Add cold water and apply to forehead, alternatively contact Espace
- 9.30
- 9.50Most businesses compete in red oceans – supply higher than demand; stiff competitionVery High growth is focused on creating uncontested space with demand far out stripping demand
- Creating new market space.Only you who does what you do.Competitors will catch up…it will take them longer but they will play to the rules you set – the challenge is to continually create blue oceans.
- Back to understanding value – what value your customers are buying.Increasing value or creating new value for customers and at the same time reducing or eliminating less valuable features or services.
- 10.00Few minutes.EliminateBookstores- PublishesReduceDistribution costs Printing costsRaise Huge selection of products / Choice of productsChoice of media – book / ebookCreateReviews Product Recommendations Alternative / more convenient reading platformKindle
- 10.15What industry am I talking about? Circus
- Strategy Canvas of “Circus industry”
- Key to blue ocean thinking is to seek inspiration from an alternative industry…which is an alternative to the customers you are targetingCombined the circus with an alternative industry – the Theater. Opened up a new customer base – adults theater goers Changed the rules of competition in the industry.
- Price is not cost.Unit running costs less per show
- Example of a bus company did some work with….
- Target Small businessFactors: confident that can discharge their services effectively / qualified (given), price - vfm, availability, expertise & understanding – helping them to groew- Take cost out of the stuff that didn’t add value- Simple & Fun- Service - experience - Looking to the future – now backwards- Available when the client wants us not 9-5- Empathy – understanding, relationship, helpful tools, community. New opportunities
- Blue ocean – to achieve growth – square with your attitude to change.
- Your team will react when they see the Orbit – probably more incline to see the danger than the opportunity.
- Let’s look at a model that would shift possible negative feelings to positive ones.
- X model of engagementHigh Growth businesses are great at engaging their employees and giving them high levels of job satisfactions. They use engagement to generate buy in and commitment to change. They give employees purpose and satisfaction in their work. Aboutaligning employees’ values, goals, and aspirations with those of the organization.Full engagement represents an alignment of maximum job satisfaction (“I like my work and do it well”) with maximum job contribution (“I help achieve the goals of my organization”).
- From Blessing White’s Employee Engagement report 2011Engaged: at apex of personal and organisational interests align. Contribute fully – ‘A’ graders. Almost engaged: high performers, reasonably satisfied, may be tempted by other things – closest to full engagement so worth investing in. (early adopters – make considered decisions)Honeymooners: in a temp holding area, enthusiastic and happy but not sure of role and fit yet – need to move them to be more aligned and productive. Hamsters: working hard but on non essential tasks so contributing little –others have to contribute more due to their lack of productivity, can lead to resentment.Cash & Burners: Top producers but exhausted, not achieving their personal definition of success, criticise executives, can become bitter – likely to leave or work less hard and become engaged. Disengaged: Didn’t start as bad apples, disconnected and underutilised, sceptical and their negativity can be contagious.
- From Blessing White’s Employee Engagement report 2011PLOT YOUR PEOPLE ONTO THE GRIDIndicate movement
- X model based on Engagaement:Blessing White shows that identifying and trusting executive leaders is one of the biggest contributors to engagement. All of this engagement stuff is a bit nebulous and about emotions ….don’t do it very well.
- Creator of this conceptHow great leaders inspire action0.15-4.407.33-8.16Hear about Martin Luther King & the Wright Brothers
- External / internal Do you believe Simon Sinek…if you believe I’ve engaged you in the model
- Alignment…Being authentic / trustEasy jet –lost their purpose; we’re on our cutsomers side…everything we do is about this…marketing ”Europe by Easyjet”
- How do you get people to change? Engaging staff and change management has to be done at the individual level and an emotional level. You have to understand what drives and motivates people. Why do people behave in the way that they do? What motivates someone to buy into this growth strategy? What's in it for me? Base decisions on avoiding pain and gaining pleasure; both are biologically driven and constitute a controlling force in our lives. Will do far more to avoid pain than we will to gain pleasure. Pain is the greater motivator in the short term.
- avoiding pain is a more powerful motivator than the desire for obtaining pleasure.Help them find pleasure through avoiding pain.
- Most People know that they really want to change, yet they just can’t get themselves to do it! Its not a lack of capability but rather a lack of motivation. Turn change from a ‘should’ to a ‘must’. Developing a state of urgency through recognising the pain involved in not changing. The only way we’re going to make a change now is if we create a sense of urgency that’s so intense that we’re compelled to follow through. Comes down to those twin powers that shape our lives, pain and pleasure.
- Let’s take Lee from our previous example, we want him to more proactively lead the high growth strategy related to penetrating new overseas markets so this is how we do it.
- Walk through these quicklyThe example is in the worksheets.
- Walk through these quicklyThe example is in the worksheets.
- Walk through these quicklyThe example is in the worksheets.
- Walk through these quicklyThe example is in the worksheets.
- Make it so – NOT changing is much more painful than changing.If the pain involved in not changing isn’t strong enough than people are much less likely to change. Pain threshold. Pain is that intense that they must change now.