Richard Parkes CordockEnterprise Leaders Worldwide

Marketing Employees

Customers

Marketing Employees

I Stand Here!

X

X = Maximum Profit

Motivation

AttitudeEngagement

ConflictRetention

Change

Laziness

Culture

Attrition

Language

Productivity

Attracting Best People

Staff Turnover

Communication

Low Morale

Recruitment

De-Motivation

Management Absenteeism

Leadership

Objective For Our Time Together

Before After

Same Standards

Same Passion

Same Pride

Same Care and Attention

Same Ownership

Same Responsibility

Same Customer Focus

Same Urgency

Same Commitment

Same Creativity

Same Attitude

- About Richard- People & Profit

Session 1

Session 2

Session 3

- Profit Growth Formula

- Employee Engagement

- Mentoring- Enterprise Mentoring

- Case Study- Sample Module

- What Do you Want?- Your Challenges?

Richard Parkes Cordock

Richard Parkes Cordock

People & Profit

PG = B + BA + TTF

Buy AgainBuy Tell Their Friends

PG = B + BA + TTF

Buy AgainBuy Tell Their Friends

PG = B + BA + TTF

BUY PG = B + BA + TTF

Why Do Your NEW Customers Choose To Buy From YOU?

Why Do Customers & Prospects Choose To Buy From Your Competitors?

Your Company

Competitors

All Employees Are Marketers

Buy Again PG = B + BA + TTF

Why Do Your Customers Buy Again From You?

The Cardinal Sin! Losing Customers...

Why Customers Leave You:

1% - Die

3% - Move Away

5% - Develop Other Friendships

9% - For Competitive Reasons

14% - Product Dissatisfaction

68% - Attitude of Indifference From Supplier

Source: John Maxwell - The Winning Attitude

Why Do Your Customers Leave YOU?

TellTheirFriends

PG = B + BA + TTF

Why Do Your Customers Recommend YOU?

Beware Negative Word of Mouth/Mouse

Beware of Silent Customers

Man on the Moon Thinking

Excellence

B: £100BA: £1,000TTF: £500

B: £400BA: £0TTF: £1,200

B: £10BA: £MassiveTTF: £Massive

Session 2Richard Parkes Cordock

What Do You Want From Your BUSINESS & PEOPLE?

What Are The Major BUSINESS & PEOPLE Challenges You Face?

People - The Key To Profit Growth

Price

Advertising

Innovation

Manufacturing

Distribution

People

< 60 days

< 1 year

< 2 years

< 3 years

< 4 years

< 7 years

Sources of Sustainability - Harvard Business School

Engaged Employees

Engaged Customers

Higher Profits

Un-Engaged Employees

Un-Engaged Customers

Lower Profits

What Percentage of YOUR Employees Are Engaged?

Engaged Employees

Happy Customers Who Repeat Buy & Recommend

Revenue & Profit

54%

Unengaged29%

Engaged17%

Disengaged

Employee Engagement Statistics

What Do Engaged Employees Look Like?

What is The Impact of Poor Engagement on YOUR Customers’ Experience?

What is The Financial Cost of Poor Engagement on YOUR P&L and B/S?

More revenue through repeat customers (you increase the life-time value of your customers)

More revenue through referral customers (you have happier customers who become raving fans)

Reduce customer attrition

Customers spread more positive word-of-mouth recommendations about you in the market place

Fewer customer complaints and fewer negative word-of-mouth stories spread about you

Increase average order value

Higher conversion ratio of prospects who turn into paying customers

ALL employees become responsible for selling, (not just your direct sales team)

The products and services you offer your prospects and customers become more relevant to them

Quicker time-to-market (of your new products and services)

Increase Revenue (with Engaged Employees)

Higher margins through lower cost of sale

Shorten sales-cycle (the time it takes to convert prospects to paying customers)

Lower cost of acquiring a customer (you get more qualified and better quality leads)

Lower cost of customer acquisition (through more word-of-mouth referrals and repeat customers)

More competitive products (from greater innovation and relevance to customers — Think Apple iPod!)

Reduce the need to discount your products and services

Reduce Cost of Sales

Greater performance and productivity of your existing staff

Remove/replace underperforming staff or those who are not fully onboard (this in itself yields greater productivity returns)

Reduction in absenteeism and sick days

Lower staff turnover (immediately reduce your recruitment costs and opportunity cost of bad hires)

Retention rates of your best staff and key talent increases

You gain a wealth of business growth ideas from your staff

You become a very desirable company to work for and attracting new staff becomes easier and cheaper

You achieve greater levels of moral and employee motivation (which leads to higher results)

Eliminate employee complacency and taking customers for granted

Increase in your revenue and profit per-head

Greater ROI on Payroll

Your employees become more conscious of wasting cash. They are keen to remove inefficiencies and make a greater effort to reduce expenses

Your employees seek out the best price/deals when spending company cash

Reduce Overheads

Increase Cash Increase in cash (through greater sales and fewer wasted expenses)

Stronger connection between your employees and their understanding of the importance of cash

Increase Receivables

Increase in receivables (through greater sales revenue)

Lower Days Sales Outstanding ratio

Reduction in bad debts (from happier and better quality customers)

Lower Cost of Inventory

Less working capital tied up in inventory as a result of your faster stock turnover

Less inventory write-offs (as you buy in or manufacture fewer products which ultimately become obsolete or irrelevant to your customers).

More ROI on Fixed Assets

A greater return on your hard assets, as you generate more sales per fixed assets

Increase Goodwill

The intangible value of your company and brand increases, as the market responds to your company’s success

Reduce Creditors

Reduction in your line-of-credit requirements, as higher sales generate greater cash-flow

Lower cost of borrowing money (as you are a lower perceived risk to banks)

Increase Company Value

Value of your company increases (including your share price, PE ratio and EPS)

Greater dividends available for your shareholders

How Do You Create Engagement?

Who Creates Engagement?

What Are You Doing In Your Company To Create Engagement?

What is The Impact of Engagement on YOUR Revenue & Profit Per Head?

Session 3Richard Parkes Cordock

Traditional Mentoring

Delivers results

High achievers / X-Factor

Expensive

Only happens at CEO/Board

Doesn’t reach 90%+ of employees in the front-line who deal with customers

Unstructured/Informal. “What shall we speak about today?”

CEO

Board

Traditional Mentoring

Enterprise Mentoring Embraces ALL Employees (Just Like ERP!)

Customer

Finance

Sales

Marketing

CustomerService

Operations

Admin

HR

MP3 Player Mobile Phone Internet LMS CD Rom

Walking to Work On a Train At Home In the Office At Home

Mon 8.30am Tue 3.30pm Wed 8.00pm Tue 11.00am Mon 9.00pm

Group Mentoring Session(Face-To-Face)

Fri 11.00am

2 Forms of Mentoring

Digital + Face-to-Face

Enterprise Mentoring

For the majority of employees

Digital + face-to-face mentoring

Use line-managers as mentors

Structured / Outcome focused

Leverages technology

Low cost

Scalable

CEO

Board

Traditional Mentoring

Enterprise Mentoring

Attitude

MindsetThinking

DecisionsActions

BeliefsBehaviours

Language

Knowledge

Language

Understanding

Abilities

Commercial Acumen

Leadership Ability

Customer Focus

Skill Set

Business Understanding

HabitsSelf-Belief

Confidence

Learning & Mastery Takes Time

Why Enterprise Mentoring Works!• Controlled Pace - (21 Sessions)

• Two levels of mentoring (digital + F2F)

• Line-managers become mentors

• Collaborative (mentor groups)

• Involves employees in the business

• Builds trust and understanding between employees and managers

• Starts conversations and dialogue

• Values employees’ ideas

• Focuses team on what really matters (the customer!)

• Makes learning fun and relevant

Mentor Group

Advantages Over Other Development MethodsIn-house classroom / workshops

External workshops

E-learning

Self-study (print based materials)

Games

Book clubs

Team building (Internal/External)

Blogs

% Knowledge We Retain When We Learn

Reading

Hearing Words

Looking at Pictures

Watching a Movie

Looking at an Exhibit

Watching a Demonstration

Seeing it done in Location

Participating in a Discussion

Giving a Talk

After 2 weeks, we tend to remember

10% of what we READ

20% of what we HEAR

30% of what we SEE

50% of what we HEAR and SEE

70% of whatwe SAY

90% of whatwe SAY and Do

Verbal

Visual

Participating

DoingDoing a Dramatic Presentation

Simulating the real experience

Doing the real thing!

PASSIVE

ACTIVE

Area of missed opportunity

Traditional Learning (i.e. Workshops)

Enterprise Mentoring (Sustained Learning)

Time

Effective Learning

Multiple Mentoring Sessions (Little and Often)

Traditional Learning vs

Enterprise Mentoring

7 Steps of Enterprise Mentoring

1. MP3/Flash Mentoring Sessions 2. Workbook

3. Face-to-Face Mentoring Sessions

4. Summary Sessions

5. Presentation6. Mentee Becomes Mentor

7. Follow-Through

Mentees study 20 MP3 or Flash mentoringsessions at a time and place to suit them

Practical workbook exercises apply thesessions back to the mentees company

+

Line-managers becomementors to employees (mentees)

Group mentoring sessions with line-managers andother mentees build on the digital mentoring sessions

+

Enterprise Mentoring Tools

E-Mentoring (Electronic Multi-Media)Advantages•Includes a graphical element which adds another

dimension/mode to learning•Delivered through a computer, which most

mentees will have access to•Mentoring programme can be loaded just once on

a central server or LMS•Does not require investment in MP3 players•Simpler implementation•Can reach thousands of employees rapidly.

Disadvantages•Lacks the 'anytime/anyplace' flexibility of MP3

learning•Requires mentees to be in front of a PC to learn•As e-mentoring is visual, mentees cannot do other

things at the same time.

M-Mentoring (Mobile MP3)Advantages•Mentees can be mentored wherever they are —

and at a time which suits them•Does not require mentees to be in front of a

computer•Listen-only format means mentees can do other

things at the same time•MP3 players can be pre-loaded with extra 'audio

based' learning materials•Because of flexibility of use (time/location), the MP3

approach encourages mentees to re-listen to the programme many times.

Disadvantages•Requires a MP3 player, mobile phone or other

device•Audio only — some mentees prefer visual learning.

I - I Believe in myselfB - Be Passionate and want itE - Extend your comfort zoneL - Lies and luck don’t workI - Install goalsE - Enjoy hard workV - Very very persistentE - Expect Failure

1 Make Customer Believe THEY BELIEVE

2 WE BELIEVEMake Teams Believe

3 I BELIEVEMake Employees Believe

Session 1 - 5: The Customer

1: Growth Through Innovation, Creativity and Change

2: Gaining New Customers Through ‘Word of Mouth Marketing’

3: How To Maximise The Life-Time Value of Your Customers

4: Why Everybody In Your Company Must Be A Salesperson

5: The Six Fundamentals of Business That

Session 6 - 10: The Team

6: People! The Key To Unlocking Your Profit Potential

7: 7 Essential Steps To Make Your Team Believe

8: How To Maximise Your Results Through Communication

9: 7 Proven Strategies To Get The Most From Your Team

10: Motivation! How To Get Your People To Go The Extra Mile

Sessions 11 - 20: The Leader (Personal Leadership)

11: Introduction To Personal Leadership

12: How To Develop Unshakable Confidence & Self Belief

13: The Unstoppable Twin Force of Passion & Desire

14: How To Eliminate Your Fears, Doubts and Limiting Beliefs

15: How To Create Endless Opportunity and Make Luck Work For You

16: How To Achieve Extraordinary Results With The Power of Goals

17: The 5 Advance Payments You Must Make To Reach Your Goals

18: How To Achieve Any Goal You Set For Yourself

19: Why Experiencing Failure Is Essential For You To Succeed!

20: Your Role as an Enterprise Leader

1000s of New Ideas!

Outcomes from Enterprise Mentoring

1000s of new business growth /process improvement ideas

CEO thinking right down to the front-line

Happier referral customers

Increased LTV of customers

Increased revenue/profit per head

Engaged, passionate and motivated staff

More relevant to your customers

Right people in right places

Liberate the ‘wrong’ people

Everybody sees themselves as a salesperson (workforce becomes your salesforce)

Create leaders at all levels

Develop a culture of self-learners

Excellence!

Benefits of Enterprise Mentoring

Greater revenues, profits & value

More repeat & referral customers

Engaged & motivated employees

Low-cost, easy to deploy programme

Get best from employees/teams

Engage with company, customers, line-manager & fellow mentees

CEOs

Sales

HR

L&D

Managers

Employees

Justin (Div Sales Dir) David (Sales Dir)

- Simon- Vanessa- Dave- Michelle

- Matthew- Kathryn- 1 other (left company)

“What They Said”

“The best way of describing it is, they are awakened to an opportunity that they could never see before. It is very difficult to describe but they become alive and alert, they’re different people from a business perspective.”

Richard Hammonds - MD

“What They Said”

“It’s as if a light bulb has been switched on! The thinking of the protégés who completed the course, compared to how they were six months ago, is day and night.

They now think like business owners. I am now able to have a conversation with them at a more commercial level. They understand that the growth of this company is not just about revenue, but about margins and cash.

They understand the importance of the people in their teams, the importance of recruiting the right people, and the importance of managers being leaders and not just managers. And they understand how to grow this business.”

Richard Hammonds - MD

“What They Said”“My wife says, ‘I would love to have the confidence you have. You are just so confident at the moment.’

She’s even considering looking at the books, at the workbook and the MP3 herself!

She says, ‘If I’ve got to listen to that for a few weeks and walk about with that stuck to my ear to get the confidence that you’ve got, then give it to me!’”

Matthew - Regional Manager

“It was addictive, and that’s what I need when I’m learning. I went to bed wearing those MP3 headphones and my husband said, ‘You have to be having a laugh!’

He’s gone through the programme. It wasn’t optional because I talked about it constantly. He hasn’t read the book but I’m sure he could finish the workbook for you!

He’s picked it up purely because every time he sat down to eat I would be talking about a section of it, or the workbook would be sitting under my nose as I was doing something else.”

Kathryn - Regional Director

Results Seen at Hammonds

Revenue up 20%

Conversion of prospects to paying customers

Increased average order size

1000’s of new business growth/cost saving ideas

Happier customers

Employees and managers energized and engaged

More creative/innovative staff

Liberated employees who should not be on the bus

Created a new language

Gave company a new focus and direction

Stand out above competition

Aligned the vision of the CEO with the employees and managers

Benefits to Hammonds (and YOU!)

Bring world-class mentoring to normally unaffordable places (i.e. front-line)

Use internal line managers - not expensive external coaches/consultants

One-off licence cost

Managers are doing what they should be doing (I.e. man-managers and mentors)

100% relevant - ‘job placed’ learning

Delivers higher levels of engagement!

Builds a customer focused company

Drives revenue and profit growth

Is fun!

What Impact Can Enterprise Mentoring Have on Your Business?