Evolve, Evade or Capture

Three areas at some stage we will find ourselves having to make quick decisions within our business activities.

Similar to the fight or flight reaction, the directional course is subjective to the individual and how they adapt to their decisions and outcomes.

What we know is within the business world we work in there will always be:-

  • Competitors
  • Won & Lost customers
  • Strong & Weak markets/channels
  • New product, companies and USP’s
  • Price fluctuations  up and down ↑ ↓
  • ‘Acts of God’ simply unaccountable
  • Innovations in channels
  • Trending or Non trending products & services
  • Good and bad service
  • Good people coming and going
  • Strong or weak cash flow
  • Economic crisis or fluctuations

These are just a few to mention, but ultimately all are factors that we have to deal with in some way or form. They may arrive as individual scenarios, or they could all be apparent at once.

The single constant is that they need action, implementation and strategic planning to ensure that you are fluid at adapting with them, not static, just allowing the causes to eat way into your business.

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Evolve 

This activity simply cannot be avoided in the business.

Whilst many brands and products have stood the test of time, they have done this through evolution of their products or services.  Evolving doesn’t mean changing everything, it simply means adapting what already works to suit the changing circumstances that you now are facing.

An example evolving can be seen in cooking appliances. 

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To cook we need heat, that is a given, yet evolving this manufacturers have added cool touch doors, Wi-Fi connectivity for ease of control, soft close doors and LED lighting.  

The cooking is still done with heat, but the consumer and the market are driven by evolution.

Therefore, the products still cook, but customers have aspirations now around form and function because of what they see.  If manufacturers just provided a box that heats up it would cook, but it would be left behind by the competition with their evolving innovations. 

Evolving is only necessary when the situations requite it.

They say don’t try and fix it if it’s not broken. It is however always worth in whatever situation you are in being prepared for it to break!

If you are then when it does you will have a plan B to follow through.

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Evade

The other option available is to evade in business. This is not a weakness or a easy way out, if anything, this is one of the harder decisions to make in business, yet can provide the best results.

If a business was to mirror every change to every product or service that was in competition with them, evolving each of their own products to match, this would be simply not cost effective.

  • Are all the products in their market channels?
  • What’s the sales opportunity on each product or service?
  • Do they need additional product lines?
  • Working capital tied up in stock?!
  • Investment costs to change?
  • ROI from all this evolution?
  • Market or channel focus and effective leadership?
  • Taken seriously by customers or just seen as a ‘me too’ supplier, who copy other businesses ideas?

Therefore this is where to evade is actually an opportunity.

Evade the products and trends that do not mirror your customers or core market channels. Maintain focus on what delivers your growth, build on this and explore the opportunity within.

Grow market share by focussing on the competition and evolving the products and services that are your current KSL’s (key selling lines)

The benefit of evading every trend in your market is that you can really focus on evolving what works and listening to your customers feedback, as to how these can be improved. This way you ate leading evolution from factual feedback, not following the crowd.

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Capture

 Aim to capture, not be captured

For anyone business is what we make it. The opportunities are out there and just need to be sought out and captured.

Whilst we are out evolving and evading, we are also being hunted down…by the competition. We could just evade our business and market share being captured, but that would be short term as defending your estate protects what you have, but it doesn’t grow your business, it just maintains it.

As mentioned above in the evolve section,  customers can and will move on, so defence of your business, products and services is only part of the jigsaw to fill.

Therefore, to capture is to advance forward and grow your share.

  • Take share from the competition within the existing estate
  • Build strong and multi person relationships throughout your customers
  • Look for areas where you can add value and ‘acquire’ incremental business
  • Don’t just defend your existing business, go on the offensive in search of new
  • Where are the competition strong, which accounts underpin their business?
  • Start to build relationships, acquire small areas of impact and grow your position
  • Search out weak points and evolve to these areas which will provide advances in share and revenue
  • Concentrate not just in one area specific, take your competition off guard
  • Coach the teams to search out as well as defend in every area
  • Always have a support plan for each of your major accounts, if they were to stop trading today

Summary

  1. Focus on you and your products strengths
  2. Defend your existing customers daily from competition taking share
  3. Evolve your offer to add value and capture incremental share in existing accounts
  4. Evade getting bogged down with unnecessary changes with no opportunity
  5. Evade losing relationships through complacency, build and strengthen them
  6. Capture new share from the competition, piece by piece.
  7. Hunt out areas that add value, find USP’s and build new relationships

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To see how your team could develop growth through effective questioning, contact Stormley Consulting for more information.

Working to improve and empower your people to grow your business to the next level.

 

 

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CEO or MD,are you really getting what you’re paying for ?

Getting value from your people?

If you’ve got a product or service that your company manufacturers or supplies, then you’ve most certainly got sales, category and marketing teams.  

With various tiers of management within business units, comes various levels of skills, knowledge and experience. 

From a financial aspect comes a large bottom line cost. 

Therefore, if that cost is not providing you with the expected ROI, then put simply, it is not allowing your business to be as effective as it could. 

As the MD or CEO you are ultimately the key voice and vision for the successful delivery if your #business strategy, yet the success is underpinned (or not) by the rest of the channels in the company. 

So are you really getting what you pay for?

The deliverables required will have been set out in your strategy for the year, but is everyone really on board?

With a selection of company measures in place,from kpi’s to 121 appraisals from channel heads, the optimum measure will be the success achieved against the goals set out in the strategy, ultimately if these are not being achieved then something is fundamentally wrong. 

Audit & Assessment

Stormley consulting understand the importance of auditing your people and customers to make a full assessment of the key areas that require tuning. 

  • Are you receiving clear information reported back, or just the bits that they know will shine?
  • What’s are the customers saying really about the end to end experience
  • What’s the measure of performance across the individuals, not the departments?
  • Are the channel directors empowering their teams and really supporting the strategy?
  • What support is needed where and with who?
  • What growth is being missed, yet available through untapped channels? 
  • Are 121 appraisals driving development in people and coaching them for growth, it simply ticking a box?
  • What are the teams feelings and drivers? 
  • Working as a tight fluid unit, all joined up, entirely misaligned or just driven by their monthly salary cheque.  

Considering using a consultant

So you are at full capacity with your sakes and marketing teams annual budget, yet not alk the people you pay are supporting that budget?

The fact is that maybe they could yet need to be heard, coached, mentored, empowered, but their current situation doesn’t provide this or allow it. 

How many businesses have fantastic people, with fantastic talent, yet a line manager or director is not providing the level of support to extract and develop this..

How much of the focus is on the target v how much is on the people that deliver it? 

Driving for key accounts and new channels of growth only works if the people who will support the accounts experience are confident in themselves, and possess the skills to deliver this.

If they are driven solely by a kpi then it’s numbers oriented selling. 

If they are driven by opportunity and fresh challenges that they learn from, then it becomes culture sales driven as well. 

Investing in time spent with a consultant offers an external impact that doesn’t detract from the strategy, but does put the team confident of achieving their goal. 

Stormley consulting recognise the importance of understanding your goal, culture and development opportunities for your people. 

Contact us for more information

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6 Ways the Tough Mudder Changes How You Think About Leadership

The challenges of the race forced teammates to rely on each other and overcome obstacles to reach the finish line.

Sourced through Scoop.it from: www.entrepreneur.com

3 Sales team models 

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Click the link below for the article from Steffi Etti. 

Sales team models 

Insight into 3 very different sales team models – Steli Efti 

Transformational Leadership

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With each member of a team being an individual, the ability to possess a transformational style to suit is an extremely important asset.

What we receive as output, is always reflective of the input. Honing skills to manage teams through flexibility is what Stormley Consulting understand.

Contact us at http://www.stormleyconsulting.com

Mission & Vision

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Stormley Consulting, working with businesses to reach their visions, through inspiring and coaching sales teams to focus on their mission. 

http://www.stormleyconsulting.com

Contact or follow us for more information.

Change,it happens. 

Change management we understand at Stormley Consulting.

Stormley will structure and guide through the stages that a team will experience, as a business requires them to go from good to great.

Contact us at  http://www.stormleyconsulting.com

#Change # Management #Leadership

Stopping the tell, starting the teach. 

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Stormley Consulting, working to maximise your teams development through end to end coaching.

Contact us for more information at

http://www.stormleyconsulting.com

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