William Barron - Coaching Insight - Business and Behaviour Trends 2009

Trends are crucial to stay ahead of the game and so here are 46 Economic, Market and Behavioural trends, along with 46 actions and 46 Market Opportunities and 12 Specific Behavioural Solutions. Some maybe..

..obvious for those that have been through a recession but then a reminder is always a good idea … let me know what you think…. 10 Economic Core Drivers

Trend	Reaction	Result	Action required by Directors	Market Opportunities…
Ever increasing global population	Higher global demand for raw materials	Increased prices and more market volatility	Protect supply chain and revisit business model	Purchasing and global supply specialisms
Increased Oriental & Asian consumption	Less delivery certainty	Increased use of local suppliers	Support local suppliers	Suppler databanks and local knowledge
Less bank resources	More competition for funds	Higher finance costs	More care with Working Capital	Cost and profit holes pluggers
More information to read	Less time to think	Poor decisions	Create info filters & time management	Time & Productivity Improvers
Increased power costs	Reduce power consumption	Monitor all power usage	Click on www.energysavingtrust.org.uk	Install power meters
More environmental damage	More regulations	More “greenwash”	Cultivate excellent links with environmental specialists	Providers environmental services – see section on Environment
More EU legislation	More paperwork	More costs	Ensure trade association is up to date	Offer specialist environmental searches
More technology	Faster change	Quicker ROI required	Understand Porter’s 5 Forces	Mentoring and Coaching
More ideas	Which one to back	Courage to scrap old products	Ensure you have correct business model	Mentoring and Coaching
Less global (demand apart from Middle East)	More competition	Less job security	Recognise and protect who has your Intellectual Property	Legal IIP protection services

11 Market Core Drivers

Trend	Reaction	Result	Action required by Directors	Market Opportunities…
More radical groups	More law breaking	Less security for people and property	Use experienced RISK assessors and agents to protect assets	Experienced Insurance Agents not ONLINE
Young 65yr olds like 50 yr olds	Cheap wisdom	Very cost effective	Employ more older people	Find/Offer UPD – Unique Personal Driver
Y generation had everything	Expect a lot immediately	Give up easily & maybe not go the extra mile	Profile recruits carefully for motivation & check CV’s	Seek old values/young energy in new bottles
Older population	Higher health costs NHS and DSS unable to cope	More residential, nursing homes & in home care services needed	Carry out market research for investors	Huge market and growing -What can you supply?
Over supply less demand	Be explicit about your USP	More dirty tricks from purchasers and competitors	More niche marketing, be VERY aware of your what you offer	Have away days to discover differences
Environmental	Old polluting processes & practices don’t work	Sector moving VERY quickly, be VERY careful, more care needed	Investigate processes and own IP	Replace with new thinking – What can you offer?
High travel costs	Reduced travel	More video conferencing, teleconferencing and webinairs	Video, tele and webinair collaboration with business neighbours/local Chamber	Which part of audio/video-conferencing can you supply or should purchase?
Costlier airline flight	40% + reduction in air travel	More UK holidays, more public travel, accommodation, entertainment, meals decorating, furniture	Investigate local, Heart of Midlands and UK tourism	What aspect of tourism can you get involved in?
More IT	Faster communication	Embrace new habits	Get up to date, blog, Twitter and keep up to date	Find/Offer local IT specialist to update staff
More unemployment	More people have spare time at home	More sole trader start-ups, especially on internet	Partner with ex staff or people who work from home on new projects	Identify potential partner companies
More desperation and crazy strategies from competition	More bankrupt companies	Keep close eye on KPI’s, business model and money	Highlight USP’s, added value and wisdom	Hire a business coach

9 Financial Outcomes

Trend	Reaction	Result	Action required by Directors	Market Opportunities …
Lower margins	Lower profits	More redundancies/shorter working week	Reduce costs by balancing wage reduction with staff retention	Use people more effectively even as sub-contractors
Lower profits	Less investment	Less training	Teach on the job	Use more mentoring and coaching
Tighter financial markets	Difficult to raise cash on old business model	Clarity of business model needed	Check on “What business are you in”?	Join MasterMinding group
Higher interest rates and hidden costs	Increased financial costs	More personal guarantees required	Careful examination how funds are used	Find efficient bankers
More bank controls and forms	Are the controls helping you?	More bank centralisation	Less involvement by local bank manager	Take extreme care with bank manager choice
Less trust in banks	Look at ethics of bank and bankers	Bank manager relationship crucial	Cultivate relationships with a number of bank managers	Ethical people shine
Less lending	Banks restudy lending and security criteria	More strange and sudden banking decisions	Be prepared by carrying out “what if” scenarios	Re-appraisal of business model, plan, margins, etc.
More working capital required	Difficulty paying creditors	Higher financing costs	Investigate amount borrowed and unit costs	Identify where losing money, cash cows, mangy dogs
Tighter payment deadlines	Reduced credit	Late or No payment	Filter out “expensive” customers	Investigate Terms and Conditions of Sale

7 Business Outcomes

Trend	Reaction	Result	Director action required	Market Opportunities …
Employ less people	More stressed people	More upset people	Use human, financial & fixed asset resources better	Profiles of Staff and Behavioural experts
More controls, more paperwork and more talk	Less time with customers	More costs less sales	Identify useful controls	Contact business streamliners
More public officials	More rules more checkups	Less effective use of management time	Check on costs and profit of each operational area	Contact business improvers
More weak companies	Be aware of sudden orders	More credit checks for existing and new customers	Sales is vanity, profit is sanity cash in the bank is reality	Effective and fast accountants who provide accurate regular accounts
Past customer history and image invalid	Be careful of habit and old contacts	Old marketing strategies do not work	Keep business plans and Marketing up to date	Outsource Marketing and pay by results
Less money spent on fixed assets	Sweat assets more	Spend more on maintenance	Offer spare capacity upstream, ebay and downstream	Introduce KPI’s hire mothballers, lease out space
Too much stock (purchased at old high prices)	Believe it is worth something	Get rid of it - ebay	Save on storage – balance sheet overvalued	Talk to realistic advisers

9 Internal Behavioural changes

Trend	Reaction	Result	Director action required	Market Opportunities …
Less control	Less security more worry	Poor health	Review processes	Hire a mentor or coach
More uncertainty	More fear	More default to old behaviours	Implement improved communication strategy	Hire a mentor or coach
More frustration	More anger	Major changes in behaviour	Understand where source is	Hire a mentor or coach
Appearance of egos & unsavoury behaviour	More bullying less listening	More alpha male/female behaviour more tribunals	Profile behaviours and motivators of all staff	Hire experienced recruitment coach – see my offer
More misunderstandings	Less effective use of time	Higher wastage, more time explaining, less output	More time with staff, more and clearer communication	Hire an experienced communication coach
Ineffective staff	Orders delivered late	Customer complaints	Hire correct staff with Job Descriptions and recruiting processes	Hire experienced recruitment coach
More headless chickens	Less effective use of time and money	More short termism	Planning required	Hire a coach to help plan more
Less listening	More personal agendas	Less people speaking up	More assertiveness required	Hire Behaviour Coach
Appearance of magic solutions	Poor quality, late incomplete	Unhappy customers	Hire correct staff with Job Descriptions and recruiting processes	Hire experienced recruitment coach

Specific Behavioural Solutions required1. Better use of time > better thinking > more clarity > better decisions > better planning > better doing > better results2. Adopt new thinking processes from respected trusted peer groups > new ways3. More discussion with different but like-minded people > new ideas that work4. More prudence needed > less instant action > start right > finish right5. Less old style thinking > more new knowledge6. Faster reaction with trusted thinkers > more brain banks > more think tanks7. More thinking > less doing > more niche > more quality > less quantity8. More learnings > new knowledge > more options9. More involvement with trusted partners – staff, customers, bankers and suppliers10. More rigor with present staff > more care recruiting staff11. Build trusted team of advisors12. Keep close eye on competition ©William Barron

Creating Insight

March 29th 2009

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