May 2014 Evolution Partners Newsletter

 

“The first requisite of success is the ability to apply your physical and mental energies to one challenge without growing weary.” — Thomas Edison

 

A word from Brad

After returning from the Growth Summit in Sydney in early March I have provided a few highlights below and will provide further highlights in upcoming editions. Next on my agenda is the Fortune Growth Summit in Las Vegas later this year with Ben Horowitz from Silicon Valley VC firm Andreessen Horowitz and Jack Daly with his new book “Hyper Sales Growth”.

 

April sure was a quick month for many with 3 public holidays, spaced perfectly to provide 2 weeks of slower business activity. We have one client who used this quiet time to take his first think week (taking a leaf from Bill Gates), a week away with reading, understanding the market and preparing tactics to grow.

 

I spent the beginning of May at the Busselton Half Iron Man (only the run!) and saw many Perth mates who are weekend fitness warriors down there. It’s a great event showcasing this great Australian town.

 

Finally EO (Entrepreneurs Organisation) reached its 10,000th global member this month. A fantastic achievement for the organisation I was privileged to be involved with for 9 years.

 

Brad Giles
Evolution Partners

 

Critical Number

As Thomas Edison highlighted in the quote above, focusing on the one thing which will move the needle forward in a given time period the most is the real key to growing your business in the long term.
Finding your Critical Number for the quarter or year can be difficult. Remember a Critical Number is simply the most important KPI for your business in the given timeframe. It’s important to ensure that this is not a Results based number (lagging), but is leading. Ask what results are we trying to achieve, what drives those results, and how do we measure it? The results you are looking for can come from SSK (Start Stop Keep), SWOT analysis or if there is a crisis it could be more obvious. Importantly is your Critical Number something most of the company can get behind with a theme?

 

Growth Summit Highlights

Rick Kash – Vice Chair of Nielsen – International TV ratings company.
Rick had some amazing statistics about how the economy is changing inlcuding:
  • We have moved from a supply based economy to a demand based economy.
  • Product development is 47% faster whilst product life cycles last 40% shorter that 50 years ago.
  • 94% of TV commercials today are more effective at 15 seconds instead of 30 seconds.
  • Profit starts at the top line not at the bottom line and we spend days angsting over supplier price, yet when it comes to our price we put our finger to the wind.

After years running TV ratings company Nielsen, Rick Kash offered his critical factors required for long term success outlining how demand is the new game changer and companies who look at a supply based economy will suffer. How the demand chain will replace the supply chain, and how your adding the 5th P: Precision is required is required to analyse this demand and tighten the alignment between what you sell and what your customer wants to buy. See Rick’s book How Companies Win: Profiting from Demand-Driven Business Models No Matter What Business You’re In

 

Tristan White – CEO – The Physio co
Tristan spoke passionately about his Melbourne based Aged Care Physio practice, and about how difficult it is to get people to work with Aged Care patients. In the midst of rapid growth Tristan has been awarded the 5th best place to work in Australia by BRW magazine. Great takeaways were Tristan’s Culture is everything checklist and 7 steps to recruiting for a strong workplace culture

 

Growth Facts

A company with a Gross Profit of 35% who offers a meagre 10% discount must increase sales by 40% to maintain total gross profit. See the details here.

 

Thought Leader

Liz Wiseman – Multipliers: How the best leaders make everyone smarter
In her book, Liz provides an outline of the differences between Multipliers (good) and Diminishers (bad) as leaders and how Multipliers can get up to twice the capability and productivity from workers, whereas Diminishers shut down the productivity of workers. Multipliers are defined as “A leader who uses their smarts to amplify the smarts and capabilities of the people around them” whilst a Diminisher is a “Leader who drains intelligence, energy and capability from the ones around them and always needs to be the smartest one in the room”. The good news of course is that if you are a Diminisher you can change your habits and significantly increase the productivity of your workforce. See the book by Liz Multipliers | How the best leaders make everyone smarter

 

New Book

‘Scaling Up’
Rockefeller Habits 2.0

The new book from Verne Harnish and Gazelles is due for release on October 21. In the meantime we are using more than 40 new tools and methods to help businesses scale.

Scaling Up

Education

 
Workshops

27 May Parmelia Hilton Perth  Mastering the Rockefeller Habits public workshop hosted by Brad Giles with Gazelles and The Growth Faculty.  More info here.

Five dysfunction of a team workshop
Net promoter score workshop

Assessments
Sales candidate assessments

Sales team evaluation
Leadership / executive assessment

Overview of the One Page Planning Process here
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