leadership day growth & business development panel
TRANSCRIPT
![Page 1: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/1.jpg)
Governing and Growing Companies in Minnesota
Leadership Day Growth & Business Development Panel May 20, 2014
![Page 2: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/2.jpg)
Introduction JOANNE KUDRNA
1
![Page 3: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/3.jpg)
2
Agenda & Introductions Panel Facilitator: Joanne Kudrna, Sr. Consultant, Granite Equity Partners
• Bob White, Board Chair Microbiologics & Vector; Director GeoComm; Vice Chair Granite Equity LLC
• Greg Schumacher, Partner, Granite Equity Partners • Mark Coronna, Managing Director, Marks and Crown • Rick Claar, Partner, The Martec Group • Bill Hoffman, Managing Partner & Co-Founder, Frontline Insights • Keith Olson, Investment Manager, Granite Equity Partners • John Bryant, CEO, GeoComm
![Page 4: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/4.jpg)
People
Process Information
3
Overview
Customer Intimacy
• How do we get the Right People in the Right Places?
- Greg Schumacher
• What are the Opportunities & Challenges for our Organizations?
- Bob White
• How do we get useful Market Intelligence?
- Rick Claar
• How do we Engage Employees for Internal
Intelligence? - Bill Hoffman
• What Processes and Frameworks can Guide our Work? - Mark Coronna
• What Resources do we have for Acquisitive Growth?
- Keith Olson
• What has GeoComm learned in its Business Development journey?
- John Bryant
![Page 5: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/5.jpg)
What are the Opportunities & Challenges for our Organizations?
BOB WHITE
4
![Page 6: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/6.jpg)
¡ Building growth into your business plan
5
Sustainable Growth
Creating Value and Strengthening Sustainability
![Page 7: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/7.jpg)
¡ Intimacy ! Creates IDEATION ! Creates INNOVATION ! Creates a BUSINESS ENTITY ! Creates an ORGANIZATION
6
Business Creation
![Page 8: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/8.jpg)
¡ Creates a need for: ! People ! Processes ! Information
7
Organization
People
Process Information
Customer Intimacy
![Page 9: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/9.jpg)
¡ Business maturity leads towards flat to modest growth ¡ Require reinvention / innovation ¡ Require different: ! Information ! Process ! Skills / Competencies
8
The Challenge
![Page 10: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/10.jpg)
How do we get the Right People and Organize for Growth?
GREG SCHUMACHER
9
![Page 11: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/11.jpg)
• Helping create sustainable growth and value creation • Proactively managing the business development process to drive 2-5 year
revenues and profits • Defining opportunities which build on the company’s value proposition
The Business Development Leader is responsible for:
• Participates in the development of the Strategic Plan • Develops plans to achieve growth and profitability through new products and
services, new markets, new relationships, and new business opportunities as well as via acquisitions, mergers, partnerships, joint ventures, and/or divestitures
• Implements and manages a defined business development process encompassing innovation, product and service definition, construction and launch, and ongoing portfolio management stages
• Works cross functionally to understand resource requirements, to complete financial analyses, and to define, construct, and launch new products and services, new programs, new relationships
Primary Responsibilities:
10
Business Development Leader – Role Summary
![Page 12: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/12.jpg)
11
Desired Behavioral Competencies
Intellectual
Interpersonal
Motivation
• Handles Ambiguity • Analytical • Strategic Thinker • Conceptual • Information Seeker • Intuitive • Perceptive
• Collaborative • Persuasive • Risk-taker
• Continuous Learner • Customer-oriented • Entrepreneurial/Intrapreneurial • Initiative • Persistent • Resourceful • Wants a Challenge
![Page 13: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/13.jpg)
Representative Skills
• Leadership skills • Influencing skills • Change
management skills • Project planning/
project management skills
• Problem solving skills
• Market analysis skills
• Financial skills
12
Business Development Qualifications
![Page 14: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/14.jpg)
13
Identify, Assess, and Recruit Business Developers
Structured Interviews
• Design process and interview questions to assess competencies/skills
• Interview team assignments focused on fit to role • 360° Reviews for Internal Candidates/References for
External Candidates
Assessments • Career Interests and Aspirations • Personality Profiles • Cognitive Ability Assessments
Recruiting
• Track record relevant to company situation (industry, stage, structure, etc.) with experience building/expanding businesses
• Candidates may have experience in Business Development, Marketing, Product Management, Corporate Development/Strategy, or Sales Management
![Page 15: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/15.jpg)
Organizing
• Leader typically reports to President and CEO • No one “best” way to do it…adapt your structure to fit
to the strategic objectives • Assess your innovation environment and challenges
to determine optimal structure
Developing • Resources, tools, templates • Business Development Site on Granite Exchange
Enabling
• Processes and practices that encourage interaction and facilitate collaboration across functions
• Technology and systems • Foster a culture that allows for imaginative
thinking, prudent risk taking and the ability to seek out, create and introduce innovative solutions
14
Organize, Develop, and Enable Business Developers
![Page 16: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/16.jpg)
What Processes & Frameworks can guide our work? MARK CORONNA
15
![Page 17: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/17.jpg)
Firms must develop multiple business opportunities, and to continue to grow and
survive, they must do this on an ongoing basis.
16
Business development is a critical part of strategy…
Grow Value
Fast or Faster
![Page 18: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/18.jpg)
Looks pretty straightforward, but...
Searching for new opportunities, selecting among identified opportunities, building new businesses, running existing ones, exiting others – all may need to be done at once...
17
What are your business development challenges?
![Page 19: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/19.jpg)
18
Business development processes deserve more attention. Better processes yield better results…
Establish Business Development and Innovation Foundation Implement business development process, tools, templates, org approaches
Step 1: Assess Current State Identify strengths, distinctive
competencies, assets, capabilities
Step 2: Identify Opportunities Build idea stream, assess, evaluate, size
and prioritize opportunities
Step 3: Test and Validate Test and validate opportunities, build out
new required competencies and capabilities Toolsets
Custom
er Intimacy
Portfolio M
anagement
People &
Culture
![Page 20: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/20.jpg)
19
What does a holistic BD process look like?
Design, Construction, & Launch
Phase: Feature definition
through deployment of products and services
Portfolio Management Phase: Goal is to manage the
product life-cycle relative to customer needs after
launch and over time
Innovation Phase: Goal is a pipeline of “on point” business plans that align with
emerging customer needs and trends.
Innovation Stages v Idea Funnel
v Concept Development v Business Case
DCL Stages v Detailed Requirements
v Solution Build v Launch
Portfolio Management Stages v Post-Launch Audit
v Life-Cycle Management
Customers
![Page 21: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/21.jpg)
20
Business development process best practices…
- Build on your distinctive competencies
- Define a clear value proposition and adapt to key audiences
- Create an Ideal Prospect Profile - Who do you want to do business with? - Who is a best fit with your value? - Where are they?
- Incorporate voice of prospect/customer throughout the BD process
- Derive value from information and measure return on learning: ROL
- Get the right talent to lead the process
- Create a supportive organizational model
![Page 22: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/22.jpg)
21
BD is different from core product development… - Focus on Horizon 2 and 3 opportunities - More Voice of Customer, much more… - Different content in your Business Plans:
Problem Statement The primary problem or need is… Workflow challenges…
The problem affects… Meeting or exceeding customer, partner needs in regards to…
The impact of which is… Inefficient acquisition and allocation of resources…
A successful solution is… Ensure improved allocation of resources and on time delivery of…
Target Problem Statement, Workflow, and Solution
Locator Services
Information Search
Product & Price
Comparison Offers and Promotions
Purchase Decision
Payment and
Information Exchange
Customer Comms and
Account Servicing
Loyalty Programs, Rebates,
Future Offers
Warranty & Relationship
Mgmt
![Page 23: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/23.jpg)
Understand your Current State - Existing competencies, capabilities, assets
Understand your BD maturity and gaps - Use of customer-intimate best practices - Identifying the best organizational and governance model
Identify your Process Leader and Growth Council - Talent availability - Can you share resources?
Customize Tools and Templates - Adapt to your strategy and scale - Deploy and refine
Adopt a Stage Gate Approach: Maximize Opportunities, Minimize Risks - Approve and invest over time as opportunities becomes more evident
Be Ready to Iterate, You May Not Get It Right the First Time
22
Customizing the process for your needs…
“There’s no good just being better, you got to be different.” -Charles Handy
![Page 24: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/24.jpg)
How do we get useful Market Intelligence? Market Facing Insights, Analysis & Action Plans
RICK CLAAR
23
![Page 25: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/25.jpg)
24
The NBD process requires both internal and external inputs, analysis and action. One without the other will surely fail.
A Robust Business Development Process– Internal & External Inputs
External Market, Customer, Competition
Internal Company
![Page 26: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/26.jpg)
25
NBD ideas can be generated from a variety of sources. But all can fit into a simple 2+2 matrix.
New
Old
Mar
kets
New Old Products/
Services
Competitive Benchmarking
Core Competency Analysis
Brainstorming
Previous Attempts
![Page 27: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/27.jpg)
Secondary Research Direct Interviews
26
Typical Secondary Research Sources:
• Patents, Research data
• Technical reports/articles
• Company reports • Government data • FOIA searches • Other (newspapers,
etc.)
Telephone and personal interviews within the defined value chain(s).
• Key elements within the Value Chain(s) v Determine all
levels v Select key
companies within each level
v Identify key decision making functions
• Industry experts • Legislative/ regulatory
agencies • Suppliers • Competition
Data Sources Market Data
Direct Interviews
Analysis
Reporting
![Page 28: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/28.jpg)
27
Value Chain Example Packaging Side Product Side
Raw Materials
Rigid Packaging
Manufacturers
Raw Material Suppliers
Intermediate Formulators
Hand Care Skin Care Oral Care
Retailers Grocery Stores Drug Stores Salons
• Polymers • Rheology Modifiers • Fragrances • Dispersants • Preservatives • Dyes • Fillers • Biocides • Other
• Polymers • Rheology Modifiers • Additives • Dyes/Pigments • Other
• Inks • Adhesives • Resins
Substrate Flexible Product
Suppliers
• Films • Roll • Paper
Product Formulator
Rigid Packaging Materials
• Glass • Aluminum • Steel • Plastic
Distribution
Personal Care Manufacturer
Contract Packaging
Converters
Personal Care Market
![Page 29: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/29.jpg)
28
Filtering Process - Typically two sets of filters can be employed to go from 50+ ideas to 10 to the top 3 commercially viable growth plans.
Ideas H
ighe
st P
riorit
y
Drill Down
Filte
r
Filte
r
![Page 30: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/30.jpg)
29
Filtering Output Example
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
2.0 2.5 3.0 3.5 4.0 4.5
Cellulose Filter Media Coating
Storage Container
Resin
Ag Films
Nutraceuticals Packaging
Gasket, Pipe, Hoses
Coating/ Resin
Carpet Coatings/
Fiber
Paperboard/ Corrugated
Coating
Institutional Floor Polish
Animal Health
Packaging (Drugs
& Food)
Liquid Release
Coatings- Composites
Digital Inks
Blood Vial
Resins
Food Packaging Coatings
Industrial Medical
Electronic
Currency Coatings
Constr.
Fabric/ Apparel/ Textile
Coatings/ Fiber Automotive
Cladding/ Fixtures Resin
or Films
Electronic Packaging Coatings/
Films Automotive Cladding/ Fixtures Resin
and Film
White Board
Coatings/ Resin Freeze
Indicator Label
Coatings, Resin or Film
Clean Room
Pneumatic Tire
Coatings/ Resin
Band Aid
Paper Coating
Oil & Gas Production (e.g.
gaskets, etc.)
Biological Production
(tubes, liners, disposable
reactor bags)
Septa Coatings
Milk/Coating = Resin = Film = Combination =
Leve
l of U
nmet
Nee
d
Gasket Pipe, Hose Coating/
Resin
Charcoal Bags
Cosmetics
Medical Packaging Coatings/
Films
Automotive & Industrial
Fuel Tanks
Pressure Sensor
“Can We Win?” Composite Metric
Size, Growth, Profit, Competition, Customer Set, others
![Page 31: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/31.jpg)
30
Current Highest Priority Opportunities
Action Plan – Ultimately, a road map where current and long-term growth can be achieved.
Longer-Term
Current
Longer-Term Opportunities
Dispose
Archive for later review Archive
Dispose
![Page 32: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/32.jpg)
How do we Engage Employees for Internal Customer Intelligence?
BILL HOFFMAN
31
![Page 33: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/33.jpg)
32
Too Often The Case. . .
Used with Permission, FRONTLINE INSIGHTS LLC 2014
![Page 34: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/34.jpg)
Extracting the valuable content that frontline employees generate as a result of their day-to-day customer and non-customer-facing experiences provides a unique perspective to enhance your Business Development capabilities.
33
Frontline Insight – Why?
Proprietary Insights Benefits
Used with Permission, FRONTLINE INSIGHTS LLC 2014
Prioritizes levers – what is really important
ROI realization in CE enhancement (or not)
Increased employee engagement
Customer Experience Enhancements
Technical issues
Purchasing / Non-Purchasing Customers
Success indicators (e.g., promotions, product,
merchandising, pricing)
Innovation / New ideas
Bill Hoffman
![Page 35: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/35.jpg)
34
Are you REALLY listening to your Front Line?
Used with Permission, FRONTLINE INSIGHTS LLC 2014
![Page 36: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/36.jpg)
35
The Approach
Employees listen to customers and observe behavior
Provide an easy and fast method
for sharing insights
Process the input to determine key
themes
Provide a summary of what
you heard
Leadership and business teams can pose questions to
employees
Communicate insights to relevant corporate teams
AND front line leaders
35 Used with Permission, FRONTLINE INSIGHTS LLC 2014
![Page 37: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/37.jpg)
36
Why Listen Employees offer a unique perspective on the business from direct interactions with customers on a daily basis.
Used with Permission, FRONTLINE INSIGHTS LLC 2014
How employees interpret these daily interactions with customers matters, as it provides another clue to add further clarity on the overall customer experience.
![Page 38: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/38.jpg)
37
#1 Driver of Customer Engagement? Employee Engagement.
“Outstanding leaders go out of their way to boost the self-esteem of their personnel. If people believe in themselves, it's amazing what they can
accomplish.” - Sam Walton
It’s all about employee engagement… Listening = Respect. Employees want to be
heard – it tells them that what they have to say is worth the time it takes to listen and it tell them that
they matter.
Purpose. When employees contribute to something that
drives value to an organization, they feel
enriched for having contributed to the company.
Performance. According to Gallup, engaged
employees simply perform better than unengaged
employees.
Solutions. Engaged employees are more likely to find solutions to potential
customer problems and even more powerful, they will share those solutions.
Used with Permission, FRONTLINE INSIGHTS LLC 2014
![Page 39: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/39.jpg)
38
It Matters
Today, no leader can afford to be indifferent to the challenge of engaging employees in the work of creating the future. Engagement may have been optional in the past, but it's pretty much the whole game today. -Gary Hamel
Used with Permission, FRONTLINE INSIGHTS LLC 2014
![Page 40: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/40.jpg)
39
Summary Employees have unique insight
▪ Employees can provide insight that no one else has, or can provide ▪ They talk to your customers who purchase and those who don’t ▪ Their interpretation of the customer’s perspective matters
Front line insights drive value to the business
▪ Our previous experience has shown a strong correlation between employee contribution and customer satisfaction, close rate, and financial performance to budget ▪ Insights are expensive – gathering them from employees is relatively cheap ▪ You have sensors in every location that you are paying – leverage that ▪ Guide your research investment with the clues the front lines are providing
Leaders ask good questions
▪ Too often business teams rely on input from a single location visit, or a small pool of employees – you need to broaden the audience ▪ Understanding employee perspective prior to a new campaign, or product
launch will save you time and money and reduce surprises ▪ Enhance credibility of business cases by having facts from the front lines
Listening to employees drives engagement
▪ A great customer experience starts with a great employee experience ▪ Employees who are heard feel more appreciated ▪ Our past history has shown a direct correlation between employee
contribution and engagement scores
Why it matters
Used with Permission, FRONTLINE INSIGHTS LLC 2014
![Page 41: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/41.jpg)
What Resources do we have to support Acquisitive Growth?
KEITH OLSON
40
![Page 42: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/42.jpg)
41
Acquisitive Growth & Business Development Activities Supported by
Granite Equity
Add-on Acquisitions to Improve Strategic Positioning
Add-on Acquisitions to Increase Capabilities
Add-on Acquisition to Expand into New Markets
Asset Sales to Redirect Company Resources
Support for Acquisitive Growth and Organic Growth
• Granite Equity is here to assist you with your acquisitive growth planning, prospect identification, due diligence, and transaction execution.
• Our acquisition process has been refined over many years and we are happy to offer our experience and support as you think about opportunities for acquisitive growth.
• By leveraging similar tools and relationships, Granite Equity can also help to identify organic business development opportunities.
Acquisitive Growth
1
Organic Growth
2
![Page 43: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/43.jpg)
Acquisition of Gibson Laboratories in December 2008
Competitive Landscape Before Competitive Landscape After
Fisher
BMX
MBL Fisher
BMX
MBL + GLI
1. Improved strategic positioning within a market that was served by 4 firms. 2. Increased revenue and EBITDA by approximately 50%. 3. Closed the “back door” to new entrants.
42
Strategic Acquisition at Microbiologics
GLI
![Page 44: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/44.jpg)
Divestiture of the Gibson Laboratories Culture Media Business
Product Offering Before Product Offering After
1. Company lacked scale to compete in lower margin culture media business. 2. Customer list and inventory were sold to a friendly distributor. 3. Margins increased after divesting the product line.
43
Asset Sale at Microbiologics
Bacterial Controls
Fungal Serology Test Kits
Culture Media
Bacterial Controls
Fungal Serology Test Kits
![Page 45: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/45.jpg)
Acquisition of Phthisis Diagnostics in October 2013
Product Offering Before Product Offering After
1. Expanded capabilities and product offering (patents, equipment, inventory). 2. Strengthened the team by adding key scientific / technical personnel. 3. Established option value for the next horizon of growth.
44
Capability / Product Acquisition at Microbiologics
Bacterial Parasites Fungal
Viral
Bacterial Parasites Fungal
![Page 46: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/46.jpg)
45
IBISWorld – a tool for industry level insight 1. A tool to help you
analyze your industry.
2. Better understand your customers, suppliers, and competitors.
3. Reports cover more than 700 industries.
4. Updated frequently with significant detail.
5. Could be used at your company for strategic planning and business development.
![Page 47: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/47.jpg)
46
Hoover’s – a tool for company level insight 1. A tool to help you
identify potential acquisitions.
2. Could be used at your company for organic growth and business development.
3. Global database of more than 80 million companies.
4. Identify opportunities around the world.
5. Relatively inexpensive and easy to use.
![Page 48: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/48.jpg)
10,000 Prospects
Industry
1,000 Prospects
Industry Location
100 Prospects
Industry Location Revenue
By adding a geographic screen we can narrow the universe of potential prospects.
Starting with a universe of more than 80 million companies we can quickly screen by industry.
By including a revenue screen we can further refine the universe of potential prospects.
47
Using Hoover’s to filter opportunities
Once we have developed a manageable list of potential prospects we can further research the companies to identify the best possible candidates for acquisition or business development.
1
2
3
![Page 49: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/49.jpg)
Value Creation Partners
Consulting Firms
Externally Focused
Internally Focused
Investment Banks
Generalists
Specialists
• Industry Studies • Market Research • Competitive Analysis • Guide Internal Initiatives
• Transactional experts • National or international coverage
across a wide range of industries
• Industry experts • National or international coverage
focused on specific industries
48
Granite’s List – a directory of strong relationships
• Lean Manufacturing • Product Development • Technology Implementation • Leverage External Insight
![Page 50: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/50.jpg)
What has GeoComm learned in its Business Development Journey?
JOHN BRYANT
49
![Page 51: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/51.jpg)
50
Situation
Gap
Current Revenue Plan
$0
$5
$10
$15
$20
$25
1 2 3 4 5 Years
Million Goal
![Page 52: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/52.jpg)
51
Progress To-Date
• Structure • Roles, Responsibilities • Leader
• Portfolio management process • Cross-Functional Collaboration • Opportunity Management
People
Process Information
Customer Intimacy
• Net Promoter Score • Customer Advisory Council • Quarterly PM visits
![Page 53: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/53.jpg)
Opportunity Management
52
![Page 54: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/54.jpg)
Opportunity Management
53
![Page 55: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/55.jpg)
Opportunity Management
54
![Page 56: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/56.jpg)
55
Progress To-Date
• Structure • Roles, Responsibilities • Leader
• Opportunity Management • Cross-Functional Collaboration • Portfolio management process
• GeoComm team • Microsoft SharePoint • Market research;
primary and secondary
People
Process Information
• Net Promoter Score • Customer Advisory Council • Quarterly PM visits
Customer Intimacy
![Page 57: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/57.jpg)
• One of the most widely-used quantitative methods
• ‘Trade-off’ approach delivers more reliable results
Information: Conjoint Market Research Tool
Example
• Granite Equity owns Sawtooth Software – industry leading tool
• Proven results
56
![Page 58: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/58.jpg)
Next Steps:
• Complete initial scoring of 35 top ideas
• Move top candidates to next stage gates:
• In depth market research
• Business case
• Business plan
57
![Page 59: Leadership Day Growth & Business Development Panel](https://reader034.vdocuments.site/reader034/viewer/2022042715/62672818b368b02d740570d3/html5/thumbnails/59.jpg)
Q & A
58