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September
2003 Edition:
Business Trends & Barometer Letter - Northpoint of Rochester
Northpoint Advisors,
LLC welcomes you! We are delighted to provide you with exciting ideas
and innovations that we encounter. We hope they will stimulate your
ideas and offer you some fresh perspectives to help you perform.
We would like to meet with you, to learn more.
How to Grow in Tough Times-
Most success is built during very tough
times. It takes a higher level planning, discipline and
justification to attain results. Companies need to look at what position
they occupy in the value chain of offerings to their customers. It's
valuable to ask, "What does my customer do with my product or service
after its delivered to them?" And can I extend beyond my offerings to
other contiguous products/service? Johnson Controls is growing at 15% a year
selling to the automotive industry that's growing at only 3%. Rather that
just providing electronic seating they are now providing entire interior
solutions, which help them, grow revenue and profits. Did you know that
a growth leader is usually 10-12% above their industry average?
According to a PricewaterhouseCoopers study "lack of demand" is the #1 barrier cited by
CEOs.
Easy Execution-
As we know, there is a built in conflict between in these
words "Easy" and "Execution" because we've all tried and know that it is
easier said than done. That's why someone a while ago stated innovation
is 99% perspiration and 1% inspiration. Today as companies are forced to
make huge changes, which are necessary to compete, we face certain
resistance to them as senior executives. There are several
Attitudinal, Structural and External barriers which you can select and
determine which affect you and your organization. At Northpoint, in
addition to our Market Attack Plans (MAPS) we now provide Execution
Arrangements (EA) to ensure we support implementation. In the end it's never
EASY but we can provide focused and determined support to make it
EASIER.
No Profit Zones-
Do you have them? Most companies have their share of them related to
products, customers, line of business etc. Rather than not knowing, its
best to identify these areas in your business and develop specific
actions to look for ways to create value. Northpoint uses a model you
can complete, that will help you re-organize your
profit contributions.
Is Customer Satisfaction
Still Valid-
In recent years, companies that
have overall satisfaction index's (OSI) in the high 90's have learned
they are still churning their customer base every 3-5 years. So what's
wrong? It may be the wrong metrics and approach. Today, the focus is on
Customer SUCCESS. If the customer is satisfied with your product but it
isn't helping them compete and add value, you're at susceptible to
losing them. Better placed questions are: How can we help you be more
competitive? Can we help you double your time to market? Is our offering
giving you more agility? Can we eliminate steps in your work process?
Out of Steam & Demand
Innovation-
"Unfortunately, in the years to
come, traditional product-centered strategies alone will be unable to
create the kind of growth companies desire." according to Adrian
Slywotzky, a leading business thought leader from Harvard and Mercer
Consulting. We have learned that in most industries, truly
differentiating new-product breakthroughs are becoming increasingly
rare. So many companies with solid success are shifting to new
approaches. These
companies are focused on creating new growth and new value by addressing
the hassles and issues that surround the product rather than by
improving the product itself. Examples of this are: Cardinal Health,
Johnson Controls, Air Liquide, GM OnStar, John Deere Landscapes and
Clarke American. The new growth innovators are great business model
innovators as well as imaginative and insightful analysts of the
business environment. At Northpoint we are working with Upstate
New York based companies to successfully apply new approaches.
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News and Notes:
Northpoint
presents to High Tech Business Council on September 10, 2003 (Tomorrow!). The
subject is, "How to Grow in Tough Economic Times."
- learn more -
Congratulations to
Jennifer Spear
Jennifer graduated from RPI this spring and was President of her senior
class and featured in June school newspaper. She has completed her
internship with Northpoint and returning for graduate school at the
State University at Binghamton.
Product
Readiness Matrix
We have
developed an analytical model/tool to help you rate your product and processes readiness.
(Green vs. yellow vs. red)
ISBM
Conference
The managing
director of Northpoint Advisors, LLC attended this key leadership
conference in August at Penn State University.
New Brochure
In August Northpoint
has launched a new brochure. You can request one by
clicking here.
New Case Study
Robert Bosch GmBH
Security Systems group on Northpoint's support of them
- learn more - |
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After a brief, no charge
assessment, we can determine the best course of action for you and
your organization.
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For more info call or
e-mail us!
New York Office
160 Linden Oaks
Rochester, NY 14625
585.233.6707
Midwest Office
2525 East Paris Rd, Suite 100
Grand Rapids, MI 49546
616.975.0194
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