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Business Diagnostics* 2005: Evaluate and Grow Your Business (UK Edition)

by Richard Mimick, Michael Thompson and William E. Smith

334 pages; quality trade paperback (softcover); catalogue #04-0243; ISBN 1-4120-2415-3; US$52.45, C$66.45, EUR43.25, £29.95

Business Diagnostics* is more than a weekend MBA-in-a-box. It is an exercise in precision engineering. This is not a primer, it is a supercharger kit for ambitious entrepreneurs.

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about the book      about the authors      excerpts      catalogue info

About the Book Business Diagnostics™ is an invaluable reference for today's business owner. The authors have devised a unique framework that allows company owners and managers to complete a powerful external and internal evaluation of their corporate health. This indispensable book provides insights and reference sources covering a broad spectrum of business issues from raising equity, obtaining financing, implementing growth strategies and surviving when times get tough. You will learn to: Complete an effective external 'size-up' of your business environment and industry sector Critically examine your key functions - Finance, Marketing, Operations, Human Resources and Technology - using a unique and concise evaluation of your strengths and what need to be fixed Assess your Customer focus Hone your diagnostic and evaluation skills by reviewing a fictional company and then completing a 'size-up' to assess the health and prospects of a company experiencing growth challenges Enhance your equity raising proposals and avoid the many pitfalls that confront participants in this complex process Submit an effective and successful bank financing proposal by understanding the risk assessment that commercial bankers use to separate the winners from the losers Complete and initial valuation of your company (or one that you intend to purchase) by considering four key valuation techniques and the due diligence process that needs to be followed Simplify the business and strategic planning process by reviewing the 'Seven Ways To Create An Effective Business Plan'

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About the Authors An accountant, Richard Mimick A banker, Michael Thompson An IT professional/entrepreneur, William Smith Richard Mimick is President and CEO of Professional Practice Management Services Limited, a management consulting and executive development firm based in Victoria. B.C. Canada. Rich holds a CPA (USA Chartered Accountant) designation and commenced his consulting career with Andersen Consulting. His academic appointments include Chair and Professor at the world ranked Ivey Business School, Director of Royal Roads University Business Programs, and Director of University of Victoria's Executive Programs. Rich has designed, developed and delivered consulting engagements and executive programs for Canadian, American, European and Asian clients. His areas of expertise are strategic management, finance and marketing strategy. Rich has received international recognition for his outstanding teaching abilities and is known for his exceptional ability to turn complex topics into understandable practical learning. Mike Thompson has over 20 years' commercial banking experience gained in the U.K, Ontario and British Columbia Canada. His academic credentials include and Honors degree in Economics from the University of Manchester and a Diploma in Land Economics from the University of British Columbia. Professional certifications include Fellow of Institute of Canadian Bankers (FICB) and Certified Management Consultant (CMC). Mike has taught Business Strategy courses at both the University of Victoria and Royal Roads University and has developed a number of successful business planning and risk assessment seminars for business and professional associations. William E.Smith Special Mathematics degree from Kings College, London; MBA from the University of Victoria in Canada; Member of the British Computer Society (MBCS) and a UK Chartered Systems Engineer (C.Eng). Smith has extensive qualifications and experience from over 30 years working in the IT industry throughout the globe. Smith began his career at IBM and recently completed three years at Microsoft EMEA in the position of Finance Industry Manager for Microsoft Europe, Middle East and Africa. He left Microsoft in May 2001 to take the position of COO with ICT, a start up company focused on the Core Banking opportunities in Financial Services. Over the years Smith has worked with and managed some of the world's best programmers and systems designers. During this period Bill has incubated two ISV's (software development companies) which built their successes around Microsoft products. One was focused on Home Automation and the second on Cardiology. Bill took both companies public and gained a huge amount of experience as a CEO and as a fundraiser in high technology. Throughout his career Smith has traveled the world extensively and is just as at home project managing a virtual banking system, designing a .NET service, arranging manufacturing capability in China, as in setting up distributors in Japan or Amsterdam, or even arranging financing in New York, Kuwait or Silicon Valley.

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Excerpts

At the end of the session he looked at me and said 'You know Bill, this is all well and good BUT without one thing it is all useless'.

I was startled. What did he mean?

'Remember this, Bill, that if there is just ONE thing you take from my critique remember this: without PASSION all these business ideas are useless'.

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THE MAGIC STORY

The focus of marketing is to deliver a clear effective 'Magic Story'. This describes the 'experience the customer undergoes' when using the product or service.

The challenge for the marketing department is firstly to develop this clear magic story and then to develop an effective and appropriate set of collateral (web site, brochures, press kit etc) which 'affects the consciousness' of the potential customers so they have a clear sense of the experience they will undergo when purchasing the product or service. The more powerful the 'experience' the more likely the potential customer embraces the 'magic story' and becomes a real customer.

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FOCUS MARKETING MESSAGES ON 'YOU'-THE CUSTOMER

In its simplest form the developer of marketing collateral should focus the messages on the customer. Too often one sees brochures and websites using 'I' and 'We' (etc) But the goal is not to celebrate how wonderful the company and its employees are, but to tell the story of the experience YOU, the customer will have.

Someone once said, colour all the words like 'I, we, us, our, etc' red, then colour all the words 'you' in green. You will know your collateral is balanced correctly when it is overwhelmingly GREEN.

Passion Revisited : Passion + Purpose + Persistance = Performance

Back in 1999 industry captain, Bill Gates had invited the top 100 CEO's in the USA, to come to his annual brainstorm session in Seattle. This year he was especially excited as his people had come up with a wonderful concept called the Digital Dashboard. Bill felt like Captain Kirk, bringing his peers onto the bridge of his new ship.

By the end of the following day, even cynics like Jack Welch of GE, had told Bill Gates that they wanted one too. That evening Bill waved goodbye to 100 of the USA's top business leaders as they headed to Seattle Airport each with the same action in their minds - to get a Digital Dashboard.

The CEO/MD's had been asked by Bill:

Do YOU have at-a-glance access to key business measures so YOU can assess the health of your business and take command when conditions alter?

Do you even KNOW what metrics are most important to your success?

How do you identify HOT SPOTS needing your attention?

Do your executives have their own set of metrics that tell them how their piece of the business is running?

Can you executives easily drill down to discover underlying causes?

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Catalogue Information

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