Doing More With Less Thriving in the post-recession Thriving in the post-recession (or anytime…) Hugh Coppen, President Winning Leadership, Inc. 1©Winning

Doing More With LessDoing More With Less

Thriving in the post-Thriving in the post-recessionrecession

(or anytime…)(or anytime…)

Hugh Coppen, PresidentHugh Coppen, President

Winning Leadership, Inc.Winning Leadership, Inc.

1©Winning Leadership, Inc. All rights reserved

The New RealitiesThe New Realities• Global & local impact of ‘Great Recession’ Global & local impact of ‘Great Recession’ • Slow US recoverySlow US recovery

– Chronic unemploymentChronic unemployment– Housing marketHousing market– Withdrawal of stimulus Withdrawal of stimulus – Impact of policies on global economy (incl. Canada) Impact of policies on global economy (incl. Canada)

• Recovery constraintsRecovery constraints– Risk of double-dipRisk of double-dip– Tight creditTight credit– Business hoarding cash (except Disney)Business hoarding cash (except Disney)– Reduced customer & consumer spendingReduced customer & consumer spending


ImplicationsImplications

1.1. Continued need to eliminate: Continued need to eliminate: – Ineffective work Ineffective work – Outdated processes Outdated processes – Wasted effort (time and expense)Wasted effort (time and expense)

2.2. Focus instead on:Focus instead on:– Work that improves the customer experienceWork that improves the customer experience– Work that contributes improved Work that contributes improved

revenues/profitabilityrevenues/profitability– Processes that are leaner, simpler, fasterProcesses that are leaner, simpler, faster


Four Ways to Do More With Four Ways to Do More With LessLess

1.1. Clearly define your business Clearly define your business strategystrategy

2.2. Control costs and wasteControl costs and waste

3.3. Balance workloadsBalance workloads

4.4. Manage your time better Manage your time better


1. Defining your business 1. Defining your business strategystrategy

Strategy: Strategy:

The statement of your business’s value The statement of your business’s value proposition, written in simple, non-proposition, written in simple, non-jargon wordsjargon words

- so customers know what to expect; - so customers know what to expect; and and

- so employees know what is expected - so employees know what is expected of them every day. of them every day.


1. Defining your business 1. Defining your business strategy.. 2strategy.. 2

Must have a strong value proposition: Must have a strong value proposition:

1.1.Customers:Customers:– Know why they have chosen your businessKnow why they have chosen your business– Remain loyal to your unique & distinctive Remain loyal to your unique & distinctive

valuevalue

2.2.Employees:Employees:– Know what customers expectKnow what customers expect– Helps them make the right work choicesHelps them make the right work choices– Focus on productive, value-adding activitiesFocus on productive, value-adding activities– Are more collaborative with a common Are more collaborative with a common

purpose purpose



Characteristics of a strong value proposition: Characteristics of a strong value proposition: 1.1.Easily articulated, easily communicatedEasily articulated, easily communicated

2.2.Has a central idea that appeals to key Has a central idea that appeals to key stakeholdersstakeholders

3.3.Clearly expresses your unique offeringClearly expresses your unique offering

4.4.Clearly differentiates your competitive offeringClearly differentiates your competitive offering

5.5.Meets the wants and needs of customers & Meets the wants and needs of customers & prospectsprospects

6.6.Is sustainable and attainableIs sustainable and attainable

Don’t confuse a value proposition with a tagline – Don’t confuse a value proposition with a tagline –

a tagline is just a communication toola tagline is just a communication tool7©Winning Leadership, Inc. All rights reserved


Examples of strong value propositions: Examples of strong value propositions:

IBM:IBM: Creating customized business Creating customized business solutionssolutions

Fedex:Fedex: Peace of mind (“On time. Every Peace of mind (“On time. Every time”)time”)

SouthWest:SouthWest: Makes flying easy & Makes flying easy & affordableaffordable

Zappos.com: Customer joy and Zappos.com: Customer joy and extraordinary serviceextraordinary service


2. Control Your Costs2. Control Your Costs

Focus intently on any cost that does not impact Focus intently on any cost that does not impact customer experiencecustomer experience•Outsourcing = lower cost (+), variable quality (-)Outsourcing = lower cost (+), variable quality (-)•Opportunities:Opportunities:–Make fixed costs variable (e.g. renegotiate leases)Make fixed costs variable (e.g. renegotiate leases)– Zero-base Zero-base allall expenses expenses– Recognize & reward Recognize & reward implementedimplemented cost savings cost savings

innovationsinnovations– Pay bonuses with retention methods, not cash (if Pay bonuses with retention methods, not cash (if

possible)possible)– Reward managers who find ways to do things differentlyReward managers who find ways to do things differently

©Winning Leadership, Inc. All rights reserved 9

2. Control Your Costs… 22. Control Your Costs… 2

Involve your people by:Involve your people by:•Asking them how they would make their job easierAsking them how they would make their job easier•Asking them how someone else could make their job easierAsking them how someone else could make their job easier•Helping them understand how their work touches customersHelping them understand how their work touches customers•Convincing them that you see them as the experts in their Convincing them that you see them as the experts in their jobsjobs•Creating meaningful recognition programsCreating meaningful recognition programs•Creating open channels for ideas – then responding to themCreating open channels for ideas – then responding to them•Demonstrating that they can really trust youDemonstrating that they can really trust you•Showing that you genuinely care about their well-beingShowing that you genuinely care about their well-being


3. Balance workloads 3. Balance workloads

Beware the consequences of workforce Beware the consequences of workforce cuts:cuts:•Increased work/life imbalance, higher stress Increased work/life imbalance, higher stress levelslevels•Resentment and reduced commitmentResentment and reduced commitment•Burnout, reduced loyalty, increased turnoverBurnout, reduced loyalty, increased turnover•Reduced customer care and service levelsReduced customer care and service levels•Compromised work qualityCompromised work quality•Poor morale, uncooperative attitudesPoor morale, uncooperative attitudes•Less ‘over and above’ effortLess ‘over and above’ effort


3. Balance workloads… 2 3. Balance workloads… 2

Offset the negative impact of workforce Offset the negative impact of workforce cuts:cuts:•Acknowledge openly the pain – give realistic Acknowledge openly the pain – give realistic hopehope•Demonstrate that Demonstrate that youyou are sharing the extra work are sharing the extra work•Simplify and ‘lean’ processes for efficiencySimplify and ‘lean’ processes for efficiency•Show appreciation with tangible Show appreciation with tangible recognition/rewardrecognition/reward•Keep an open dialogue for continuous innovationKeep an open dialogue for continuous innovation


3. Balance workloads… 3 3. Balance workloads… 3

Realign your workforce:Realign your workforce:•Get rid of poor performers, nurture top performersGet rid of poor performers, nurture top performers•Move people into roles that play to their strengthsMove people into roles that play to their strengths•Upgrade job titles to recognize added Upgrade job titles to recognize added responsibilitiesresponsibilities•Identify team strengths and weaknessesIdentify team strengths and weaknesses•Identify, or hire, people who are the best ‘fit’Identify, or hire, people who are the best ‘fit’•Give autonomy & accountability – get out the way!Give autonomy & accountability – get out the way!


4. Manage Your Time 4. Manage Your Time

• Stay focused on priorities that grow the businessStay focused on priorities that grow the business• Use written “to do” lists, prioritized & updatedUse written “to do” lists, prioritized & updated• It’s OK to be unavailable if priorities demandIt’s OK to be unavailable if priorities demand• Set ‘open office hours’ when you Set ‘open office hours’ when you willwill be available be available• Manage meetings tightly & effectivelyManage meetings tightly & effectively• Stop doing Stop doing anythinganything someone else can do someone else can do• ““Either Either youyou control your time or everyone else control your time or everyone else

does”does”


Doing More With Less Doing More With Less

Bottom line:Bottom line:• A mindset as much as a way of managingA mindset as much as a way of managing• Your behavior models what you expect of Your behavior models what you expect of

othersothers• Think lean, act lean, be leanThink lean, act lean, be lean• Help your people work smarter, not harderHelp your people work smarter, not harder


Documents

Doing More With Less Thriving in the post-recession Thriving in the post-recession (or anytime…) Hugh Coppen, President Winning Leadership, Inc. 1©Winning