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How Can SMEs Beat How Can SMEs Beat The Recession?The Recession?
Nigel DunnNigel DunnOctober 2008October 2008
TopicsTopics
1.1. Common Areas of Business WeaknessCommon Areas of Business Weakness2.2. Translating Great Ideas into Sustainable Translating Great Ideas into Sustainable
BusinessBusiness3.3. Scalability Without HeadcountScalability Without Headcount4.4. Market Conditions – How to Adapt & SurviveMarket Conditions – How to Adapt & Survive
Calx Europe Background Calx Europe Background 25 years Hi Tech market experience25 years Hi Tech market experience Ex-HP, Metrologie, Computer2000/Tech Data, GenesysEx-HP, Metrologie, Computer2000/Tech Data, Genesys Accelerating Sales of Emerging BusinessesAccelerating Sales of Emerging Businesses Mainly North American Hi Tech CompaniesMainly North American Hi Tech Companies ClientsClients
Okcupid.com (US)Okcupid.com (US) Bell Micro EuropeBell Micro Europe Adaptive Planning (US)Adaptive Planning (US) Teleonto (India)Teleonto (India) Theorem Inc (US)Theorem Inc (US) ActionBase (Israel)ActionBase (Israel) Promethean (UK)Promethean (UK)
Calx Europe ‘Soft Landing’Calx Europe ‘Soft Landing’
1.1. Virtual ManagementVirtual Management
2.2. Sales AgencySales Agency
3.3. Partner/Reference Account DevelopmentPartner/Reference Account Development
4.4. Talent AcquisitionTalent Acquisition
Venture Capital ViewsVenture Capital Views
Reasons why new businesses fail:Reasons why new businesses fail: Wishful thinkingWishful thinking Underestimating the sales cycleUnderestimating the sales cycle Spending money in the wrong areasSpending money in the wrong areas AssumptionsAssumptions
Optimism vs. ObjectivityOptimism vs. Objectivity
Building Repeatable SalesBuilding Repeatable Sales
Proof of Concept leads to Critical MassProof of Concept leads to Critical Mass Profile your ‘ideal customer’Profile your ‘ideal customer’ Make sure lots of them exist and are accessibleMake sure lots of them exist and are accessible Who are your competitors?Who are your competitors? Build your ‘Value Proposition’ – Why me?Build your ‘Value Proposition’ – Why me? Find the key peopleFind the key people Find out how & why they buyFind out how & why they buy Create referencesCreate references Analyse every win and loss – repeat success, avoid failureAnalyse every win and loss – repeat success, avoid failure
The more contacts you make, the more likely you will succeedThe more contacts you make, the more likely you will succeed
Value PropositionValue Proposition
Customers buy valueCustomers buy value Why is your product or service different from others?Why is your product or service different from others? What difference does your product or service make?What difference does your product or service make? What extra value does it bring?What extra value does it bring? Can you quantify the extra value?Can you quantify the extra value? Have you examples of success?Have you examples of success? What happens if the client does not buy? What happens if the client does not buy? Is there a Compelling Event?Is there a Compelling Event?
Your biggest competitor is ‘No Change’Your biggest competitor is ‘No Change’
Building Repeatable SalesBuilding Repeatable Sales
Networking – Online & Face to FaceNetworking – Online & Face to Face Linked InLinked In
Spend a little moneySpend a little money Connect with ‘like-minded people’Connect with ‘like-minded people’ Join Clubs e.g. IODJoin Clubs e.g. IOD Create and answer questionsCreate and answer questions Use Inmails and Introductions sensiblyUse Inmails and Introductions sensibly
Zoominfo – Getting contact detailsZoominfo – Getting contact details BlogsBlogs Ecademy, Xing, Plaxo, Viadeo, Ning, Passado, Facebook, Inquisix, Jigsaw etcEcademy, Xing, Plaxo, Viadeo, Ning, Passado, Facebook, Inquisix, Jigsaw etc Face to Face – IOD, Chamber of Commerce, Entrepreneur Clubs, Shows, SeminarsFace to Face – IOD, Chamber of Commerce, Entrepreneur Clubs, Shows, Seminars
Scaling Without HeadcountScaling Without Headcount
Keep Flexible – Put the Force where it’s neededKeep Flexible – Put the Force where it’s needed It’s usual to contract out Payroll, Accounting, IT etcIt’s usual to contract out Payroll, Accounting, IT etc What about Marketing and Sales?What about Marketing and Sales?AdvantagesAdvantages Large pool of under-utilised experienceLarge pool of under-utilised experience Easy to accessEasy to access Pay as you go - pay on results, don’t pay for failurePay as you go - pay on results, don’t pay for failure Everyone is trying to prove themselvesEveryone is trying to prove themselves Put the power where it’s needed (horses for courses)Put the power where it’s needed (horses for courses)
Skill sets – knowledge, phone, face to face, backgroundSkill sets – knowledge, phone, face to face, background Experience – market expertiseExperience – market expertise Level of seniority/gravitasLevel of seniority/gravitas Geography, languagesGeography, languages
No long term employee issues, obligations and costsNo long term employee issues, obligations and costs
‘‘Try before you buy’Try before you buy’
Current Market ConditionsCurrent Market Conditions
Recession loomsRecession looms Focus on costs – evaluate on Focus on costs – evaluate on ‘Return on Cost’‘Return on Cost’ Focus on value – differentiate and quantify itFocus on value – differentiate and quantify it Be realistic – make the tough calls nowBe realistic – make the tough calls now
Review forecasts – budget to surviveReview forecasts – budget to survive Adjust costs now, ask the tough questionsAdjust costs now, ask the tough questions Pay for results not failurePay for results not failure
Choose customers carefullyChoose customers carefully Keep away from competitorsKeep away from competitors Worth & value of customersWorth & value of customers Keep reviewing pipelineKeep reviewing pipeline Review ‘cost of acquisition’ of customersReview ‘cost of acquisition’ of customers Keep close to all your customersKeep close to all your customers Go the ‘extra yard’ on serviceGo the ‘extra yard’ on service
Conserve cash – wait until 2010 for big investmentsConserve cash – wait until 2010 for big investments
ANY QUESTIONS?ANY QUESTIONS?
Contact: Nigel DunnContact: Nigel Dunn
T: +44 (0)207 193 2356T: +44 (0)207 193 2356