Creating Profitable New Business
How to turn a business idea into profitable business. 3 + 4 day’s course.
The goal of effective leadership is to focus the power of an organization on common objectives. Resources and talent should be employed in such a way so that everyone involved is committed and motivated to achieve above-average results. A desire to perform well, to be productive and produce high quality – along with enjoyment in shared success – should be anchored throughout the entire company.
To turn a business idea into profitable business, you need investments. However, investing in new business is not without its risks:
- The resources needed are usually underestimated
- The timeline is underestimated – time needed for success to set-in is usually far longer than planned
- The risk of failure is assessed too low
With these problems and intangibles, you have to ask yourself “Should my company really invest in innovation?” As manager, you know there are hardly alternatives to this. A company that rests upon “old” business will be copied and lose its uniqueness. With interchangeability, then, profit margins begin to drop. Only by creating new business, with new and unique customer benefits, can you avoid a gradual erosion of profitability. Investing in new business, therefore, is a must. The question is “How to go about it?”
HOW THE SEMINAR IS ORGANIZED
In part 1, you will create and develop new business ideas. In part 2, we will show you how to manage the profitability and return of a business and which programs are necessary to ensure or achieve healthy earning performance, despite high investment in something new.
WHO SHOULD PARTICIPATE
- Decision-makers in business development, innovation, start-ups and new business models
- Specialists and managers who want to actively support the success of new business
- Executives who apply for financial resources or decide about proposals made for new business
Developing Ideas for New Business
- The visionary approach
- The technology approach
- The core-competency approach
- The opportunity approach. What opportunities do we need to better capitalize on?
Financial Objectives and Guidelines
- Expected return on equity
- Sales potential and achievable turbo-growth
- When must new business make a profit? And the pay-back period?
What is Achievable in Developing New Business?
- Anything new is difficult, expensive and takes longer than you think
- What makes launching new business difficult?
New Customer Benefits
- New business must deliver much more customer benefits than existing business can
Market and Competitor Analyses
- Invest where the market is attractive long-term and the competition will be inferior
Changes in Sales & Distribution
- New business models change sales and distribution – with new decision-makers, new decision processes and new points-of-sale
Working out the Details of a Business Idea
- The business strategy
- The marketing strategy
- The financial concept
- The communication of the future
- New sales channels
- New ways to develop the market
How to be Successful in the Marketplace
- Managing market success along the value-added chain
- Optimization of success by managing customer life- time value
- Profitability and return
- Investment in innovation through simultaneous activity
- Ensuring profit management
- Programs for ensuring profitability despite investing in the future
When you promote men and women of your staff, it will help if you approve their participation in our junior program first. In a briefing, you tell us what exactly your employee needs to develop. We meet with the participant and give you feedback about this. We then give you a promotion proposal and the St. Gallen talent-promotion tool for implementing your own talent management. [more...]