Though I am planning on going through the six stages of growth, I wanted to just add a comment about signature blocks.
The other day I received an important email from someone I had met briefly a few days earlier, unfortunately I was out of the office and my blackberry was over the limit - I could receive emails but couldn't send replies. I tried to address the issue via telephone. The sender did not have a signature block. Other than their name I had no other information. The issue was resolved but not without undue tension.
As I was thinkng about this, the obvious hit me. Signature blocks are meant to provide information, typically is it a name, company, telephone, website, etc. But in todays world of information sharing, why not add a link in the signature block to the latest press release, newsletter or webpage update....it's a great way of spreading the word.
Just a thought.
Friday, May 11, 2007
Wednesday, May 2, 2007
Stages of Growth - Where are you, Where are you going?
nCompass utilises a six stages of growth approach:
one 'man' band
early success
operationalizing
the resource crunch
suit & tie
the corporation
regardless of the stage, the objective is to get to the next level of growth and reap the rewards associated with a process driven, well resourced organization that understands what to do when and can execute.
the main driver for continuing to grow is that growth attracts competitors, if you are not growing you are losing ground to those around you that have been attracted by your growth
the one 'man' band organizations are the true start ups, innovative, new. the issue here is that the market may not yet know that it wants or needs your product and you may not be 100% confident that there is enough of a market to sustain your organization. most often a one person show. the push is on the product and service and not necessarily on the processes and procedures that need to be developed to run the organization effectively and capitalize on opportunities to their fullest. there is vision but direction is sometimes a challenge. the key here is to understand the product, understand the market and understand that there is an entire backbone to the organization that will be required to make the venture a success. don't forget about the processes that bring the business model to life. granted, with a one man operations the management structure really isn't needed but, it has to be there, one day the organization is going to 'take off' and how the one man band does things has to be duplicated and duplicated and duplicated to sustain the growth, the only way to do this is have a process for the steps the business utilises to execute it's model. many businesses fail at the next step because the business can not mimic the actions that created that initial growth.
early success - next blog.
one 'man' band
early success
operationalizing
the resource crunch
suit & tie
the corporation
regardless of the stage, the objective is to get to the next level of growth and reap the rewards associated with a process driven, well resourced organization that understands what to do when and can execute.
the main driver for continuing to grow is that growth attracts competitors, if you are not growing you are losing ground to those around you that have been attracted by your growth
the one 'man' band organizations are the true start ups, innovative, new. the issue here is that the market may not yet know that it wants or needs your product and you may not be 100% confident that there is enough of a market to sustain your organization. most often a one person show. the push is on the product and service and not necessarily on the processes and procedures that need to be developed to run the organization effectively and capitalize on opportunities to their fullest. there is vision but direction is sometimes a challenge. the key here is to understand the product, understand the market and understand that there is an entire backbone to the organization that will be required to make the venture a success. don't forget about the processes that bring the business model to life. granted, with a one man operations the management structure really isn't needed but, it has to be there, one day the organization is going to 'take off' and how the one man band does things has to be duplicated and duplicated and duplicated to sustain the growth, the only way to do this is have a process for the steps the business utilises to execute it's model. many businesses fail at the next step because the business can not mimic the actions that created that initial growth.
early success - next blog.
Thursday, April 12, 2007
Lunch with the 'silent partners' - marketing & branding
I had lunch today with two of the folks running one of our portfolio companies and two of their not so 'silent' silent partners. I was asked to join in to help explain some of the background as to why we were taking the approach we were.
In short, I stressed the importance of understanding the product and how it fits into the different market segments, the portfolio company (www.fluidform.ca) was doing an excellent job of this. They understood what individuals made up their market, they stayed away from any efforts that didn't involve their markets and they did a superior job of making the benefits of their product clear to their target market(s).
They were not trying to be all things to all people.
One of the partners wasn't clear on how our marketing was working, we weren't advertising our products in many cases. Mid 2006 we switched our marketing from product based to corporate based or brand based, in essence, we were promoting who we are and what we stand for. This made it clear that we were there to work with and help our clients and not just 'sell a product'.
In this branding, it was made very clear that the organization never takes our products/customers/reputation for granted. We are down to earth, a partner of choice.
Next was long term vs short term thinking. I explained the concept of marketing around a theme that is long term, the foundation is Premium Precast Product, it goes to what the organization is and what it stands for. Our thinking doesn't go to the end-user, as it does with our competition, but to the designers, architects, integrators. End-users, for our market doesn't allow for our long term model to work but working with designers, architects, integrators makes the long term model work and work well. On the short term we still market to end-users but with a different model. The result; we push the product via the designers, architects, integrators and we pull via the end-user. It seems to work well.
All in all we look at market need, customer needs, gaps and we are constantly evaluating ourselves; performance feedback is key (on products/services, delivery, vs competitors). We plan to be proactive but realise that reacting to events is also a part of business life, though most of our reactions are now quite planned (if a happens, do x, if b happens do y, etc).
In the end we stated what is the obvious around the factory and the sales office; never look at what we are doing, always look at what we have to do and what we should be doing.
Lunch was enjoyable, these silent partners have never been quite so silent.
In short, I stressed the importance of understanding the product and how it fits into the different market segments, the portfolio company (www.fluidform.ca) was doing an excellent job of this. They understood what individuals made up their market, they stayed away from any efforts that didn't involve their markets and they did a superior job of making the benefits of their product clear to their target market(s).
They were not trying to be all things to all people.
One of the partners wasn't clear on how our marketing was working, we weren't advertising our products in many cases. Mid 2006 we switched our marketing from product based to corporate based or brand based, in essence, we were promoting who we are and what we stand for. This made it clear that we were there to work with and help our clients and not just 'sell a product'.
In this branding, it was made very clear that the organization never takes our products/customers/reputation for granted. We are down to earth, a partner of choice.
Next was long term vs short term thinking. I explained the concept of marketing around a theme that is long term, the foundation is Premium Precast Product, it goes to what the organization is and what it stands for. Our thinking doesn't go to the end-user, as it does with our competition, but to the designers, architects, integrators. End-users, for our market doesn't allow for our long term model to work but working with designers, architects, integrators makes the long term model work and work well. On the short term we still market to end-users but with a different model. The result; we push the product via the designers, architects, integrators and we pull via the end-user. It seems to work well.
All in all we look at market need, customer needs, gaps and we are constantly evaluating ourselves; performance feedback is key (on products/services, delivery, vs competitors). We plan to be proactive but realise that reacting to events is also a part of business life, though most of our reactions are now quite planned (if a happens, do x, if b happens do y, etc).
In the end we stated what is the obvious around the factory and the sales office; never look at what we are doing, always look at what we have to do and what we should be doing.
Lunch was enjoyable, these silent partners have never been quite so silent.
Elevator Speech approach to Blogging
Far too much time has passed since the last entry, partly because I thought each entry had to be a mini-thesis, I'll be just putting down thoughts, points and highlights, it's probably best for anyone reading as well. So, from now on, unless it's a cut and paste from my archive or a project I've worked on, most entries will be based on a 30 second elevator ride approach.
Wednesday, March 21, 2007
Morning Prayers
While our portfolio companies are working at maximizing returns, nCompass is looking at getting the most of the programs and processes we implement. Having different companies working in different industries it is often difficult to apply a process that all the portfolio companies can effectively implement. I started going through 8 storage boxes of files, notes and articles that I have been collecting for the last 10 odd years trying to find the ideal ‘process’ to inject into our portfolio companies and realize the greatest return. I was struggling when my 2 ½ year old daughter shed light on the whole exercise when she asked me, “daddy, what are you going to do today?” It hit me right then and there; morning prayers. As an Air Force Officer, every morning, first things first; morning prayers. All the officers would stand in a circle in the middle of the hangar surrounded by fighter jets and each would take a few minutes to say “this is what I’m doing, this is why, these are the issues”. Everyone knew what was going on, everyone knew what had to be done; no excuses, just action and accountability. That was the first process we implemented at all three portfolio companies and the impact has been substantial. The “I sent an email” culture still exists but ‘morning prayers’ are really starting to drive the day to day business. Everyone knows the key is communication, morning prayers ensure that communication flows and actions are taken.
Friday, March 9, 2007
Continuous Improvement Part Deux
Continuous Improvement Part Deux
The following are 11 steps that we utilize for our continuous improvement initiatives. Feel free to borrow/steal or add comments.
Step One
1. Find a common area.
2. Set up a white board to publish issues, results, steps, comments.
3. Use the board to communicate the issue to the company and drive the schedule.
Step Two
1. Define the problem.
2. The most important step.
3. Ensure you are highly focused.
4. Implement the KISS principle.
5. Indicate a means for measuring results.
Step Three
1. Take notes.
2. Map the process.
3. Identify bottle necks.
4. Identify duplications, issues, opportunities.
5. Quantify time and $.
6. Mark rework, wip, idle times.
7. Google: PERT and implement some ideas.
Step Four
1. What’s the Objective?
2. What are the expectations?
3. Timeline?
4. Metrics?
5. Get buy-in.
Step Five
1. Analyze Data
2. Google: Cause and Effect and implement some ideas.
3. Google: Root Cause
4. Use brainstorming and pareto charts to identify issues and concentrate on heavy hitters.
Step Six
1. Develop several solutions
2. Team effort here.
3. Look under every rock and listen to every opportunity.
4. We are not looking for the root cause but a solution, look at all possibilities.
Step Seven
1. Test the solutions.
2. Pilot tests.
3. Identify areas of measurement and analyzing the results.
4. Look at cost effectiveness, cycle time reduction, quality improvement and process/outcome measures.
Step Eight
1. Implement the best solution.
2. Compare and evaluate all solutions.
Look at:
i. Cost
ii. Value
iii. ROI
iv. Implementation time
v. Commitment
vi. Change required
vii. Google: Force Field Analysis
viii. Apply to top 2 solutions
ix. Select the best solution
x. Implementation plan
xi. Training
xii. Implementation
Step Nine
1. Track Progress
2. Monitor and fine tune, are you getting what you expected
3. Collect data, chart data
Step Ten
1. Take Notes
2. Continue documenting the process
3. Effort, time, people, money, resources
4. Savings: hard and soft
5. Efficiency
Step Eleven
1. Present the Results
2. Win the organization over
3. Illustrate the win and build support for future projects
4. Highlight the how and communicate the project, other project may result, the process might be ‘usable’ in other areas.
Any Questions?
The following are 11 steps that we utilize for our continuous improvement initiatives. Feel free to borrow/steal or add comments.
Step One
1. Find a common area.
2. Set up a white board to publish issues, results, steps, comments.
3. Use the board to communicate the issue to the company and drive the schedule.
Step Two
1. Define the problem.
2. The most important step.
3. Ensure you are highly focused.
4. Implement the KISS principle.
5. Indicate a means for measuring results.
Step Three
1. Take notes.
2. Map the process.
3. Identify bottle necks.
4. Identify duplications, issues, opportunities.
5. Quantify time and $.
6. Mark rework, wip, idle times.
7. Google: PERT and implement some ideas.
Step Four
1. What’s the Objective?
2. What are the expectations?
3. Timeline?
4. Metrics?
5. Get buy-in.
Step Five
1. Analyze Data
2. Google: Cause and Effect and implement some ideas.
3. Google: Root Cause
4. Use brainstorming and pareto charts to identify issues and concentrate on heavy hitters.
Step Six
1. Develop several solutions
2. Team effort here.
3. Look under every rock and listen to every opportunity.
4. We are not looking for the root cause but a solution, look at all possibilities.
Step Seven
1. Test the solutions.
2. Pilot tests.
3. Identify areas of measurement and analyzing the results.
4. Look at cost effectiveness, cycle time reduction, quality improvement and process/outcome measures.
Step Eight
1. Implement the best solution.
2. Compare and evaluate all solutions.
Look at:
i. Cost
ii. Value
iii. ROI
iv. Implementation time
v. Commitment
vi. Change required
vii. Google: Force Field Analysis
viii. Apply to top 2 solutions
ix. Select the best solution
x. Implementation plan
xi. Training
xii. Implementation
Step Nine
1. Track Progress
2. Monitor and fine tune, are you getting what you expected
3. Collect data, chart data
Step Ten
1. Take Notes
2. Continue documenting the process
3. Effort, time, people, money, resources
4. Savings: hard and soft
5. Efficiency
Step Eleven
1. Present the Results
2. Win the organization over
3. Illustrate the win and build support for future projects
4. Highlight the how and communicate the project, other project may result, the process might be ‘usable’ in other areas.
Any Questions?
Monday, March 5, 2007
Continuous Improvement
Today I met with one of our portfolio companies and we discussed continuous improvement (CI). I dug out an interesting article from my archives and thought I would make that the blog topic for today.
The following says it all:
Improvement requires Change
Change needs Action
Action requires Knowledge
Knowledge leads to Experience
Experience results in Wisdom
Wisdom is increased by taking more Action
If your organization is taking on a continuous improvement program it has to definitely feel comfortable with Change, Taking Action and Sharing Knowledge and Best Practices.
From what nCompass has noted and many are sure to agree; many organizations decide to take on a program without regard to the ‘other’ programs that play a support role. Every program is the result of a mindset, philosophy, train of thought. Implementing any program is not as simple as saying ‘we’re doing xyz’; to be effective it has to be in line with the organization’s strategy, philosophy, driving force.
The following says it all:
Improvement requires Change
Change needs Action
Action requires Knowledge
Knowledge leads to Experience
Experience results in Wisdom
Wisdom is increased by taking more Action
If your organization is taking on a continuous improvement program it has to definitely feel comfortable with Change, Taking Action and Sharing Knowledge and Best Practices.
From what nCompass has noted and many are sure to agree; many organizations decide to take on a program without regard to the ‘other’ programs that play a support role. Every program is the result of a mindset, philosophy, train of thought. Implementing any program is not as simple as saying ‘we’re doing xyz’; to be effective it has to be in line with the organization’s strategy, philosophy, driving force.
Tuesday, February 27, 2007
First Post
Well here it goes, nCompass is entering the world of blog.
The main point of this blog is going to be to concentrate on business ideas and processes. Adding value, targeting growth. Comments and blurbs on general business concepts.
First things first. nCompass ArchAngel Capital is a venture capital firm that invests capital in brick and mortar companies and takes an active management approach to their investment.
To date we have investments in www.fluidform.ca (a precast stone manufacturer), www.gotgas.ca (a commuter marketing company) and sunsplash design build (design/build firm).
Our background. Ex-Military, Ex-Lear Corporation, Ex-General Electric.
Our strategy; apply structure and process to add value and accelerate growth.
Blogs; I plan on writing one to two blogs a week and look forward to any comments.
The main point of this blog is going to be to concentrate on business ideas and processes. Adding value, targeting growth. Comments and blurbs on general business concepts.
First things first. nCompass ArchAngel Capital is a venture capital firm that invests capital in brick and mortar companies and takes an active management approach to their investment.
To date we have investments in www.fluidform.ca (a precast stone manufacturer), www.gotgas.ca (a commuter marketing company) and sunsplash design build (design/build firm).
Our background. Ex-Military, Ex-Lear Corporation, Ex-General Electric.
Our strategy; apply structure and process to add value and accelerate growth.
Blogs; I plan on writing one to two blogs a week and look forward to any comments.
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