Strategy 4 Saturday (<4 minute read)

• Family First
• Turn-Around Client
• Strategy facilitation | Course
• Book quotes (Amazon)
• Measure Success Podcast
• Strategy fact / Quiz
• How We Solve Business Problems

Family First

Here in the US, I hope you had a wonderful 4th of July celebration and took an opportunity to be grateful for the freedom that we have.

My wife’s family, the “Heiney Nation”, celebrated our annual reunion in Seaside over the holiday. Every year, we add to the fun, and this year was no different. As noted in the picture above, our parade costumes including but not limited to Ricky Bobby, Hello Kitty, a Skunk, Pink Elephant, Storm Trooper, Spider-Man, Deadpool, the Duchess, and yours truly as Captain America.

The reunion was definitely the highlight of the past week. We are fortunate, that despite our differences, we still love and support each other in their respective pursuit to make a positive impact in the world.

Unfortunately, my immediate family also had an emergency this past week. I had to cancel several meetings to be present. I was grateful to hear one of my business partners, Juniper Strategies, say, “no need to apologize, family is always the #1 priority.” This is a wonderful example that this is the type of organizations and clients that we like to work with, and that we would have the same grace in a similar situation.

Turn-Around Clients

Two weeks ago, we discussed there are generally two types of clients that we work with. Type A, high growth, and they are developing a strategy to go to the next level. Type B are turn-around clients.

I would describe a turn-around client as an organization who is fully indwelt in the storm of a business, and they are now at-risk of a shipwreck, unless they right the ship. The symptoms may include a sudden decline in revenue, cash flow issues, lack of direction, management conflict, lack of processes, and system failures.

We will often apply the same Captain Strategy principles, for Type A and Type B clients, however the timelines are significantly different. For Type B clients, we will focus on solving the biggest issues in the short-term. Think 90 to 180 day plans. After we solve the biggest issue, then we can move them to longer term strategic planning.

See bottom for the examples of how we solve the problems above…

It’s hard to be strategic, when there is a crisis. However, by finding a way to plug the holes in the ship, and repair the sails, we can start moving the organization back in the right direction.

Strategic Facilitation | Captain Strategy Course

If you need a facilitator to stay focused on successful strategies for the rest of 2023 and beyond, email carljcox@40strategy.com. Connect with us now to reserve a spot.

We have designed an 8-week, one-hour live virtual Captain Strategy Master Class. Our next course starts Monday, August 7th. The cohort is capped to 8-entrepreneurs/executives. Our 3-pilot courses received raving reviews.

This course is also great for other consultants and internal facilitators who are looking for a better way to accelerate their strategic planning process.

Imagine how one focused strategy hour, per week, can make a difference for you or your company.

Email Operations Director, Tonya Smith, admin@40strategy.com, to reserve a spot.

(And yes, we will incorporate AI/ChatGPT into the course)

Lost at CEO | Favorite Book Picture

Mac Lavier, CEO, gearUP, the #1 Nike youth team sports provider, shared this photo from Hawaii. Thanks, Mac!

Amazon Book Review

“Carl’s book is great! I have been lucky enough to work with Carl one-on-one, and in a group setting, and his book is a great distillation of his wit and wisdom.

It is an easy, engaging read, and it is set up in a clear way, so you can use it as a reference later. A great business book for the beach… or anywhere.”

Measure Success Podcast

This week, episode #123, BookThinkers Founder, Nicholas Hutchison, shares his story of how books has transformed his life and now he spends his pursuit to share this wisdom with others. This is a show that you will not want to miss with my Boston native friend…and congratulations on your marriage! Here’s the summary and audio links.

Strategy Fact of the Week:

74% of consumers rely on social media to guide purchasing decisions (Nerd Wallet)

Quiz of the Week:

What percentage of consumers start their product research with a search engine?

A. 20%
B. 40%
C. 60%
D. 80%

Last week’s answer: D. 80% of small business do not utilize content marketing

How We Solve Business Problems (from above):

Decline in revenue – Evaluate the core issues, focus on growing existing customers, and improving the sales pipeline

Cash flow – Develop a cash-flow planner, adjust operational expenses to fit current cash inflows, obtain financing if necessary.

Lack of direction – Identify a short-term project that will have the biggest impact on the outcome with a high likelihood of success. Develop a 10-week implementation plan, and maintain accountability to successfully complete. Return organization to positive momentum on strategic projects.

Management conflict – Conduct Gallup StrengthsFinder assessments with key management and personnel. Develop a Team Matrix to identify where the organization is succeeding, and the gaps that need to be resolved. Deeper interviews and analysis when necessary to establish root-cause and identify strategies to align team with common direction. We have a partner to expand beyond the management team and to conduct deeper AI surveys.

Lack of processes – Value-stream mapping to measure process and cycle time. We identify the key waste in the process and then create a future state to reduce the cycle time to serve clients. At times, we will outsource this process with partners.

Lack of systems – We will support the high-level identification of these challenges and determine whether it makes sense to make system improvements. At this point, we will outsource with partners.