Whilst we’ve not been meeting clients face to face (something we really look forward to) we have been engaged as many others have, through Zoom with assessment centres, coaching and training activities.
Our work with Vetoquinol continues. We received some great feedback about how our support had been an important factor supporting their growth in North America.
In developing materials for our clients training, we’ve touched base again with some vital studies and guidance.
Our guide ‘How to secure Key Account Growth in a Competitive World’ references many sources of important insights and gives hard nosed advice about how to make progress in a challenging world. A study we were reminded of was published in the Harvard Business Review considered performance of over25,000 companies. It was by Raynor and Ahmed.
They measured performance according to return on assets – because they believed it is the best test of management performance.
From the total of 25,000 companies, they found just 344 which they defined as ‘exceptional’.
Despite much effort they could not identify the consistent measurable behaviours of these high performing companies.
They switched their thinking to consider how their senior management teams thought about their business growth.
They found that consistently the highest performing companies used three basic rules to govern their thinking.
- Better before cheaper – in other words compete on differentiators other than price;
- Revenue before cost – that is, focus on the top line above driving cost down
- There are no other rules – so focus everything to follow rules 1 and 2.
These rules are particularly important to retain when dealing with key customers, that relatively small number of current and potential customers you simply must grow business with to achieve overall corporate objectives.
If you would like a copy of the paper please let get in contact.
Great rules to keep top of mind.