An overview of 2010 market trends for Stage 2 small businesses. Stage 2 is marked by the realization among a company’s leadership team that something monumental within the business needs to change in order for growth to ensue or continue. It is characterized by recognizing that something that was once relatively simple – a fledgling business – is becoming complex as it evolves. It is an understanding that a firm has evolved from survival mode into a sustainable enterprise that marks Stage 2.
Phimation has identified that Stage 2 companies are faced with one or more of three
main business challenges:
o They’re trying to grow.
o They’ve stagnated.
o They’re transitioning leadership.
The problems are more complicated, your team is bigger, and the stakes are higher. As a Stage 2 leader, your company’s success hinges on your ability to implement unfamiliar management and strategy techniques into your business, and you need some guidance to learn how to do just that.
2. Trend Framework 2 Company strategies Broad social & market forces Industry forces Segment forces Company forces
3. Presentation Plan Objectives Provide insight into broad market trends Provide guidance on applying the trends to strategy Agenda Strategy background Market trends Applying the trends Michigan trends Q&A 3
4. Phimation Strategy Group 4 Management consulting for small businesses Everything but finance Focus on Stage 2 Strategy development and strategic execution Business Marketing Operations Innovation Funding Experience Former COO of Stage 0/1/2 businesses Worked with about 4 dozen companies since 2001 On the Boards of 4 companies Raised $30MM in private and public capital
12. Trend #1: Negative Social Mood 12 Source: Socionomics Institute “Human emotion is rhythmical.” – R.N. Elliot
13. What this trend means… 13 The Old Way Credit New Opportunities Be Nimble
14. Trend #2: The Expectation Economy 14 Source: Trendwatching.com “An economy inhabited by experienced, well-informed consumers who have a long list of high expectations that they apply to each and every good, service and experience on offer.”
15. What this trend means… 15 Clarify your value proposition, and align your whole organization toward it Look outside your industry for innovation and competition
16. Trend #3:Bigger Role for Government 16 Source: McKinsey & Company “Previous crises have resulted in permanent changes in government’s role, and this one is likely to do the same…Prepare to compete under new regulatory regimes…[and] recognize that the public sector will grow in importance as a major customer for many industries.”
17. What this trend means… 17 Apply standard sales and marketing practices Think bureaucrat Commit long-term
18. Trend #4:Hyperspecialized Professions 18 Source: World Future Society “There are already significant knowledge gaps and communication difficulties between specialties and subspecialties, and these divides will only become larger and more difficult to surmount.”
19. What this trend means… 19 Growing value in translation, bridging, and generalization More specialists available… the right one harder to find
21. What this trend means… 21 OR Understand your differentiation Openness and collaboration add value It’s about the customer experience More, better, and cheaper (or more valuable) options
36. 31 Business Card L = Links to Trend Sources E = Phimation Email List Booth Stage 2 Management Mysteries Revealed Drawing for copies of Trusted Advisor Phimation.com CEO Briefings, blog posts Crain’s Detroit Business Second Stage Focus www.crainsdetroit.com Dave Haviland dave@phimation.com 734 717 4955
Notas del editor
Fun, ton of useful stuff, interesting to shareQuestions
Which is most importantValue chain
45, 20, 15, 10, 10
Which is most importantValue chain
Companies that want problem solved
High expectations – meet, or unhappyLooking for experiences
Outside industry – experiences, expectation setting, true innovationDISNEYValue proposition – Good to Great – figure out what you’re really good at
Blinded by their tax dollars and political messagingNegative social mood
Concepts of Expectation Economy in looking around you to see how you can contribute
Disaggregation and reaggregation through technology
How can your business be a platform for othersCustomers can take many paths, so understanding the customer is more important than ever – value chain – take the bigger viewIt’s about getting attentionCollaboration – share control, or it better be worth itOptions – research or trust
45, 20, 15, 10, 10 – anyone want list we compiled?