ESP Methodology
Once all of the information is in place, and we have agreed the key business objectives with our internal stakeholders, we design and roll out a detailed strategy utilising our FADE™ methodology. This is executed via a series of strategic workshops with representatives from each part of the business.
We work with your leadership team to identify improvements in business performance.
Meetings are held with the Managing Director, CEO and/or Chairman to discuss specific operational strengths and weaknesses. We then construct a representative management team to take part in the Creative Thinking Workshop phase.
Defining the Problem - We ask the team to choose a problem and describe it.
This involves generating a list of problems that the team would like to solve. From this
list we ask the team to select one problem – others can be addressed later. We then work on verifying and defining the problem by asking is the problem really crucial? How will it affect stakeholders? How widespread is it? It is important to answer these questions thoroughly in order to determine that this is a good use of the team’s time and effort. The same process is then applied to other issues.
Learn about the problem from the data.
We hold an off-site workshop involving representative senior managers. During the workshop we compare current and future business direction under specific creative thinking rules. Output includes short, medium and long-term objectives. Business objective champions are identified to communicate and gain feedback on key organisational objectives.
Gathering and Analysing Data – We ask the team to decide what data they need to know to solve the problem. The next step is to collect the data to give baseline measures, to help identify key causes and factors that need to be controlled. Finally, the team is asked to determine the most influential factors. They need to decide if they have enough information to develop solutions or if they need to gather more data and/or ask more questions.
Develop a solution and an implementation plan.
We roll out an operational thinking workshop involving small teams of representative management and staff. The workshop is divided into syndicates who are asked to think through the delivery phase of the business objectives and present solutions.
Developing a Solution – We ask the team to develop a list of suggested solutions using brainstorming or other creative methods (depending on the group dynamics). We ask the group to agree on and define the preferred solution. Finally, the team is asked to consider the challenges that stand in the way of the solution and the factors that support it. At this point a trial run is often conducted and an action plan is developed by the team with an timeframe for implementation.
Gain commitment, implement the plan, monitor results and adjust as needed.
This phase involves working with the business objective champions to help them deliver their stated objectives and ensure that the company’s traditional operational boundaries do not restrict or inhibit the agreed success criteria. Experienced mentors are assigned to carry out reviews with the champions and help solve problems to ensure stated deliverables and milestones are met.
Specific difficulties are highlighted and discussed with management to remove any roadblocks to success. Business objectives are re-evaluated at this stage and adjusted as necessary.
Gain Commitment – The team is tasked with approaching groups and individuals to gain feedback on concerns and ideas. Useful ideas are added to the solution.
Monitor the Impact – This can be carried out by using the original reference measures or by adding new measures that better reflect the solution. Monitoring techniques may be simple or complex but it is vital to have an indication of how effectively the solution is working.
Let’s see how FADE would apply to a real business situation.
A local technology company wanted to improve its sales performance by 30 percent over the next 24 months. Its revenues had flatlined and it couldn’t identify the reason why.
Focus
Establish goals (strategic, financial, operational) and set measurable objectives in conjunction with the selected project team.
Analyse
Collect baseline data and determine influencing factors. This is usually the most time-intensive part of the methodology. In this case, this involved working with the project team including selected members of the sales and marketing team to establish the weak links in the chain. This involved:
Account Analysis - looking at key accounts and deciding which are most profitable and why? Analysing ways to increase sales to current customers such as upselling or analysis of account portfolios.
Competitive Analysis – rating how the company’s products/services rank against the competition and overall market trends. Assessing how the company is positioned vis-a-vis the competition.
Distribution – looking at key channels to market, sales and distribution partners, ways to improve sales distribution, potential areas for growth and identifying alternative sales channels.
Positioning – analysing the company’s market positioning; is it positioned as too high-end or perceived as too expensive?
Products/Services – identifying the most profitable products and the reasons why. Assessing which product lines are underperforming and why. Determining the fastest growing products.
Sales Team – looking at the sales cycle, number of leads per sales account team, percentage of leads closed, average time to convert a lead. Analysing sales incentive programs.
Promotions – deciding how effective the company’s promotions are in reaching its target market. Considering if this could be improved and how?
Pricing – looking at the pricing strategy. Analysing pricing, profitability and revenue for each of the product lines.
Service Delivery – evaluating how effectively the company is delivering its services. Deciding if there are any people problems that need to be addressed. Addressing how customer service is measured.
- Sales Strategies – Asking what customer relations/incentive programs are in place? How successful are these in regards to upselling/cross selling to current customers and in retaining customers? What plans are there to penetrate new markets? Which new product launches are in the pipeline?
Develop
A detailed sales and marketing strategy is developed using the outcome of the analysis and in tandem with the selected project team.
Execute
Agree on timeline, appoint team leaders for each part of the project, roll out project. Measure progress at agreed times and adjust strategy as necessary. Ensure regular project updates and progress reports are regularly communicated throughout the organisation.