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Quick! Show Me Your Value

Quick! Show Me Your Value

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Quick! Show Me Your Value

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  1. Quick! Show Me Your Value How to Talk to Your CEO or CFO About the Value You Bring to the Organization Theresa Seagraves

  2. After this session, you will be able to: • Create clear, concise and powerful thirty-second statements that communicate business value. • Gauge conscious and unconscious perceptions of your value and adjust your communication strategy for greatest impact. • Ensure your value is quickly communicated to the right people, at the right time, all year long.

  3. High Impact Value Statement: In the last three months, after implementing our performance recommendations, manufacturing decreased their rework rates by 10% thereby improving our Gross Profit Margin by $750,000. These improvements mean we were able to met our target profit levels during our critical new product introduction. We’d like to meet with you and your staff to show you how we can help create even more improvement in the bottom line. May we set up a meeting with you in the next two weeks?

  4. The Four Segments: • Performance Value: • Financial Value: • Relevant Context : • Your Goal: In the last three months, after implementing our performance recommendations, manufacturing decreased their rework rates by 10% thereby improving our Gross Profit Margin by $750,000. These improvements mean we were able to met our target profit levels during our critical new product introduction. We’d like to meet with you and your staff to show you how we can help create even more improvement in the bottom line. May we set up a meeting with you in the next two weeks?

  5. Defining Your Audience Job LevelTheir Measures SeniorVision and Shareholder Value MiddleLong-TermCosts and Revenue 1st/OperationsShort-Term Costs and Revenue Individual ContributorPersonal Effectiveness

  6. Senior Mid 1st/Ops Individual Gross Profit Margin Cost of Goods Sold Materials (Labor, Overhead) Rework Rate Build the Measurement Chain: 6

  7. Conducting Business Intelligence What do you have to know in order to do this? • Financial Imperatives Profit, position and cash • Financial Documents Income Statement, Balance Sheet, Cash Flow Statement Look for annual reports, stock analysis reports, industry analysis reports, internal white papers, websites, budget reports or quarterly performance presentations to get much of the information you need.

  8. Value Perceptions: Not All Value Is Created Equal: Surprise UnconsciousOverestimated Negotiable ConsciousAppropriately Estimated Given Unconscious(Very) Underestimated Adapted from concepts introduced in the Kano Model of Expectations, 1979, For more information see “A Guide to TQM in Service Industries”, Asian Productivity Organization, 1996, ISBN92-833-1129-9.

  9. Get Some Numbers! Tracking Value is Key: • You must put actual numbers around the value you bring with every change in your interventions. • First numbers can be estimates. • MUST eventually perform higher-level evaluations to gather actual numbers and remain credible.

  10. Level 1: Reaction Level 4: Results (Gross) Level 2: Learning Level 5: ROI (Net) Communicating Evaluation Data: Senior Mid 1st/Ops Ind Optimization through Level 3: Behavior Effectiveness:(Penetration Sustainability Speed) and/or Efficiency 11

  11. The Value Life Cycle: Fiscal Year 3rd Quarter 2nd Quarter Implementation Validation Vision Setting Budgeting New Product Introductions Seasonal Sales

  12. The Four Segments Template - Part 1: PERFORMANCE SEGMENT: In the last three months, after implementing our performance recommendations, Period of Time Intervention their rework rates by 10% manufacturing decreased Direction Performance Measure Amount of Change FINANCIAL SEGMENT (thereby): improving our Direction Gross Profit Margin by $750,000. Financial Measure(s) Amount of Change

  13. The Four Segments Template - Part 2: RELEVANT CONTEXT (which means): These improvements mean Intervention we were able to meet our target profit levels during our critical new product introduction. Relevant Benefit or Impact YOUR GOAL: We’d like to meet with you and your staff What You Want to show you how we can help create even more improvements in the bottom line. Why May we set up a meeting with you in the next two weeks? Next Step You Want Them to Take Period of Time

  14. A Final Word About Your Goal Asking is critical to building your influence: • Communication without purpose is noise. Your executives expect you to tell them why you are telling them about your value. • A commitment, no matter how small, is the key to building influence and gaining more and more support in the future.

  15. The Financial Value Process Is based on the new book: Quick! Show Me Your Value: A Trainer’s Guide to Communicating Value and Connecting Training and Performance to the Bottom Line, By Theresa Seagraves, published by ASTD Press/SHRM • For more information, contact Theresa L. Seagraves & Associates at: • (303) 840-5102 • tseagraves@drive-roi.com • Or visit our website at www.drive-roi.com

  16. Thank You!