WESTREC MARINASWESTREC MARINAS

PERPETUAL CHANGE – THE PERPETUAL CHANGE – THE

NEW NORMAL?NEW NORMAL? Presented by Alex Laidlaw, Presented by Alex Laidlaw,

Vice President, WESTREC MARINASVice President, WESTREC MARINAS

““The very river in which The very river in which you bathe a second time you bathe a second time is no longer the same one is no longer the same one

which you entered which you entered before.”before.”

((HeraclitusHeraclitus, 500 B.C.) , 500 B.C.)

So is Perpetual Change So is Perpetual Change something to fear or something to fear or

something to embrace?something to embrace?

Perpetual Perpetual Market ChangeMarket Change

Changing Market Changing Market RealitiesRealities

► Consumers have less money. Consumers have less money. ► There is greater price sensitivity for products There is greater price sensitivity for products

and services. and services. ► Customers are harder than ever to satisfy. Customers are harder than ever to satisfy. ► Boats are still unnecessarily complex, Boats are still unnecessarily complex,

expensive machines.expensive machines.► Tight credit markets have made borrowing not Tight credit markets have made borrowing not

only difficult, but in some cases impossible. only difficult, but in some cases impossible. ► The industry as a whole is dealing with a higher The industry as a whole is dealing with a higher

costs and lower margins costs and lower margins

Thoughts on a Changing Thoughts on a Changing MarketMarket

► Keep things in perspective. No one needs a Keep things in perspective. No one needs a boat, They choose to have one.boat, They choose to have one.

► Perception is reality. Things will get better Perception is reality. Things will get better when people believe they'll get better.when people believe they'll get better.

► Periodically re-evaluate your priorities and Periodically re-evaluate your priorities and the viability of your business model. And the viability of your business model. And make sure your strategic plan is keeping make sure your strategic plan is keeping you on course.you on course.

►Hope and wait won't get the job done. Focus Hope and wait won't get the job done. Focus on the have-tos and defer the want-tos.on the have-tos and defer the want-tos.

Thoughts on a Changing Thoughts on a Changing MarketMarket

► Accept the fact that your business is worth less Accept the fact that your business is worth less than it used to be.than it used to be.

►More than ever, cash is still king.More than ever, cash is still king.► Understand what your customers are going Understand what your customers are going

through. Be more flexible with clients and through. Be more flexible with clients and increase the level of communication with them. increase the level of communication with them. Provide more personalized service.Provide more personalized service.

► Challenge the status quo. Find new markets and Challenge the status quo. Find new markets and revenue streams.revenue streams.

► Create activity. Busy places get business; slow Create activity. Busy places get business; slow ones don't.ones don't.

The most important issue The most important issue facing business leadership facing business leadership

today is the need to prepare today is the need to prepare their organizations to cope their organizations to cope

with perpetual change.with perpetual change.

Perpetual Perpetual Organizational Organizational

ChangeChange

►The traditional approach to The traditional approach to organizational strategy implies that organizational strategy implies that because our business model because our business model succeeded in the past, and is still succeeded in the past, and is still succeeding today, it will continue to succeeding today, it will continue to provide us with a foundation for provide us with a foundation for success in the future.success in the future.

►Worked well when there was little Worked well when there was little change in the external change in the external environment…..Howeverenvironment…..However

►We operate in a very different environment We operate in a very different environment today.today.

►The only way for organizations to survive and The only way for organizations to survive and adapt successfully to chaos and complexity is adapt successfully to chaos and complexity is for them to strive for perpetual organizational for them to strive for perpetual organizational change.change.

►The practical application of this perpetual The practical application of this perpetual change is the need for the organization to change is the need for the organization to grow its capacity for continual learning, grow its capacity for continual learning, renewal and reinvention.renewal and reinvention.

Implementing Capacity Implementing Capacity for Organizational for Organizational

Change Change

Change Management’s BehaviorChange Management’s Behavior

► Einstein's famous definition of insanity is "doing the same Einstein's famous definition of insanity is "doing the same thing over and over and expecting different results.“ thing over and over and expecting different results.“

► Life is a six-inch game, and those 6 inches is right Life is a six-inch game, and those 6 inches is right between the ears. between the ears.

► Communicate a strategy that it is important to go the Communicate a strategy that it is important to go the extra mile for the customer so that you can minimize the extra mile for the customer so that you can minimize the risk of losing customers. risk of losing customers.

► If you are awesome with customers, they will spread If you are awesome with customers, they will spread P.W.O.M. (positive word-of-mouth) so that you can attract P.W.O.M. (positive word-of-mouth) so that you can attract new customers.new customers.

Develop a Corporate CultureDevelop a Corporate Culture►Be Customer Focused.Be Customer Focused.►Manage from the “outside-in” not the Manage from the “outside-in” not the

“inside-out.”“inside-out.”►Understand the value of your Understand the value of your

employees. Well trained, Qualified, employees. Well trained, Qualified, Competent, and Happy employees Competent, and Happy employees deliver the best service experiences.deliver the best service experiences.

►Always find ways to Add Value.Always find ways to Add Value.►Find new ways to communicate with the Find new ways to communicate with the

Customer. Customer.

Weed the GardenWeed the Garden

► The strategy here is to hire the best and leave The strategy here is to hire the best and leave the rest. When you finally weed the garden the the rest. When you finally weed the garden the other employees will probably cheer as well and other employees will probably cheer as well and say "what took you so long, we figured that out say "what took you so long, we figured that out 10 months ago.“ 10 months ago.“

► If you do not weed the garden, the employees If you do not weed the garden, the employees just might be complaining about how tough it is. just might be complaining about how tough it is. If they are doing that, they are certainly not If they are doing that, they are certainly not focused on the customer. This often leads to focused on the customer. This often leads to N.W.O.M. (negative word of mouth). When N.W.O.M. (negative word of mouth). When you finally weed the garden, the performance of you finally weed the garden, the performance of the rest of the team will go up. the rest of the team will go up. 

Hire the BestHire the Best

► If you want to motivate your current team, you If you want to motivate your current team, you must add new hires that bring the right attitude must add new hires that bring the right attitude and work ethic to the party. Hiring wrong can be and work ethic to the party. Hiring wrong can be a bad motivation for your current employees. a bad motivation for your current employees.

► Everyone is a customer of numerous Everyone is a customer of numerous organizations, so when you are a customer and organizations, so when you are a customer and an employee goes the extra mile and is an employee goes the extra mile and is demonstrating right behavior - hire them! It is demonstrating right behavior - hire them! It is easier to teach them about your business than it easier to teach them about your business than it is to try to fix a poor attitude or a weak work is to try to fix a poor attitude or a weak work ethic. ethic. 

8 Steps to successful 8 Steps to successful Organizational ChangeOrganizational Change

► Increase urgencyIncrease urgency - inspire people to move, make - inspire people to move, make objectives real and relevant. objectives real and relevant.

► Build the guiding teamBuild the guiding team - get the right people in place with - get the right people in place with the right emotional commitment, and the right mix of skills the right emotional commitment, and the right mix of skills and levels. and levels.

► Get the vision rightGet the vision right - get the team to establish a simple - get the team to establish a simple vision and strategy, focus on emotional and creative aspects vision and strategy, focus on emotional and creative aspects necessary to drive service and efficiency. necessary to drive service and efficiency.

► Communicate for buy-inCommunicate for buy-in - Involve as many people as - Involve as many people as possible, communicate the essentials, simply, and to appeal possible, communicate the essentials, simply, and to appeal and respond to people's needs. De-clutter communications - and respond to people's needs. De-clutter communications - make technology work for you rather than against. make technology work for you rather than against.

8 Steps to successful 8 Steps to successful Organizational ChangeOrganizational Change

► Empower actionEmpower action - Remove obstacles, enable constructive - Remove obstacles, enable constructive feedback and lots of support from leaders - reward and feedback and lots of support from leaders - reward and recognize progress and achievements. recognize progress and achievements.

► Create short-term winsCreate short-term wins - Set aims that are easy to - Set aims that are easy to achieve - in bite-size chunks. Manageable numbers of achieve - in bite-size chunks. Manageable numbers of initiatives. Finish current stages before starting new ones. initiatives. Finish current stages before starting new ones.

► Don't let upDon't let up - Foster and encourage determination and - Foster and encourage determination and persistence - ongoing change - encourage ongoing persistence - ongoing change - encourage ongoing progress reporting - highlight achieved and future progress reporting - highlight achieved and future milestones. milestones.

► Make change stickMake change stick - Reinforce the value of successful - Reinforce the value of successful change via recruitment, promotion, new change leaders. change via recruitment, promotion, new change leaders. Weave change into cultureWeave change into culture

So is perpetual change So is perpetual change something to fear or something to fear or

something to embrace?something to embrace?

He who rejects change is the He who rejects change is the architect of decay.  The only architect of decay.  The only human institution which human institution which rejects change is the rejects change is the cemetery.  cemetery. 

~Harold Wilson~Harold Wilson

I’d like to hear from y’all…I’d like to hear from y’all…

►Questions?Questions?►Comments?Comments?►How can we help you?How can we help you?

►Thanks for having me! Thanks for having me!