Solving Business Problems

with Mike Figliuolo

Exercise Handout

Solving Business Problems with Mike Figliuolo

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The Problem Solving Process

OutputClearly defined problem statement with success criteria

OutputFactors and issues affecting answer defined and categorized

OutputPossible solutions scoped as hypotheses and most likely answers chosen for analysis

OutputDeep analysis of hypothesized answers. Paths either confirmed or eliminated with data

OutputSynthesis of data into a clear, structured and compelling recommendation

Pin the Prob

lem Identif

y All Issues Best Guess

Analyze the Paths

Conceptual Thinking Critical Th

inking

Pitch a Recommendation

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Pin the Problem - Pinning QuestionsWhat is the high level problem?Answer focusing questionsWhat is the objective?

Who are the stakeholders/influencers?

How will you measure success?

What will be the specific scope?

What constraints exist?

Evaluate prior effortsHas this problem been considered in the past? Whats different now?

Were there any challenges last time this was addressed?

What ingoing assumptions limit our thinking?

Who was involved in the problem solving?

Derive insights from new lensesWhat are the perspectives of the CEO, front line staff, customers?

What is the 10,000 ft. view vs. the 50 ft. view?

Can you reimagine the problem in new ways?

What happens if you remove built-in constraints?

Understand relevant causalitiesAre elements of the problem derived from other elements?

What are the root causes of this problem?

Is there actually a deeper or preceding problem?

Are there repercussions to anticipate?

Are there chronology/sequence issues relating to the problem?

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The Problem Solving Process

Sort aspects of the problem into distinct/complete categories by function or theme

Some will be related. Others will be different enough to merit a separate category

Limit number of primary categories for easy map-makingSolving Business Problems with Mike Figliuolo

Product A

Sales Product B

Product C

Region 1

Sales force Region 2

Region 3

Short term

Strategy Mid-term

Long term

Revenues

Profits

Costs

Segments

Current customers

Prospect customers

Financial

Challenges Marketing

Strategy

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As You Analyze, Pick the Best Paths in the Least Time

High Road Look from AboveAlways revisit your Best Guess and the pinned problem

Estimate expected rewards before you start detailed analysis

Use 80/20 and back-of-envelope thinking

Use experts as data sources

Share good ideas

Test your thinking

Low Road Evaluate the GroundOnly run the numbers you need to run

Dont wander into the weeds for too long

Beware of polishing dirt

Focus your attention on only the best paths

Get back on the high road regularly to regain perspective and get out of the details

Trust your gut! Take risks!

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Guiding Principles on Assertions

Assertions are truths stated for persuasion

Assertions are clear, explicit and direct the audience knows where you stand

The difference between a strong assertion and a weak opinion is the facts

In a conflict of assertions, the best evidence wins

Once an audience agrees with your assertions proofs, controversy disappears