Simplicity

It's a theme for 2021. Companies want to drive simplicity, and many CEOs we are talking to consider this to be a key area of focus. Let’s explore why…

As companies grow, shrink and change, they find themselves more complex. But where does it come from? Ultimately complexity is driven by core business functions: process, policy, systems, operating models, and is fuelled further by unclear decision-making. 

Complexity costs companies’ both money and time – and probably more than you would think. On average, complexity costs companies 23% of their cost base. 

So, given its impact, it makes sense that a key area of focus is to reduce complexity. But how do companies do this successfully?

“Simplicity (noun) is defined as “the quality or condition of being easy to understand or do.” And “the quality or condition of being plain or uncomplicated in form or design.””

The five key steps to reduce complexity in your business:

1. Ask senior leaders to write a list of roadblocks in the organisation

2. Ask staff to ask it they could change one process in the company what would it be 

3. Identity themes (4-5) that would reduce complexity 

4. Identify measures of complexity for 4-5 items and targets to drive simplicity 

5. Start a program of work endorsed by the CEO around driving changes in 4/5 items and celebrate success 

It helps to put things in context, so here are some key areas where we have seen improved simplicity that has directly created a financial benefit:

• Remove unprofitable customers - reprice or remove 

• Remove Unprofitable products - stop selling 

• Remove number products in offering (do we neatly need 214 staplers?)

• Clear delegations driving improved and timely decision making 

• Bill / billing process 

Simplicity is an overused term and not many companies do this well. Ask yourself, is it time to spring clean the cupboards in your business? To remove the clutter, simplify the way you work and operate in order to drive a better customer experience and improved financial outcomes…

Remember the secret is to take a non-emotive view of things - no sacred cows!!

At Whiteark we love helping companies simplify through the 5 Step approach. The impact is beneficial for customers, employees and shareholders alike. 

Download our free guide below to help you analyse your business processes and get started…

James Ciuffetelli and Jo Hands have practical experience in helping companies implement change around simplification, and we have seen the benefits this provided first hand. Get in touch for a no obligation conversation about how you can strategically simplify your business.

Browse more articles about change and transformation.

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Need support in your organisation? Reach out.

Whiteark is not your average consulting firm, we have first-hand experience in delivering transformation programs for private equity and other organisations with a focus on people just as much as financial outcomes.

We understand that execution is the hardest part, and so we roll our sleeves up and work with you to ensure we can deliver the required outcomes for the business. Our co-founders have a combined experience of over 50 years’ working as Executives in organisations delivering outcomes for shareholders. Reach out for a no obligation conversation on how we can help you. Contact us on whiteark@whiteark.com.au

Article by Jo Hands, Co-Founder Whiteark

Measure what matters

So much data, so many reports means we’re not sure what we should measure; inactivity of red metrics…  Metrics not measured against targets. Targets are soft. There are all issues that we hear from our clients. 

It sounds simple - and it is - but measure what matters.

 Be clear on strategy, priorities and key lead indicators for the business. One report with key metrics versus targets and an agreed plan where metrics are not on track. 

Here’s how I work out key metrics:

• Start with a driver tree of what key elements drive value 

• Pick top metrics - no more than 15 than it off work impact the results 

• Ensure there is clear accountabilities of metrics - which executive is responsible?

The report should go out each week with key call outs, and - if over a 4 week period - the metrics are off base, then a remediation plan is required to resolve and rectify issues.

At Whiteark we love helping our clients set up their reporting through:

• Building our driver tree 

• Identifying key metrics 

• Identifying targets and profiles 

• Building robust reporting framework 
  

Measuring what matters sounds simple but not many companies do well.

Do you? 

Want to know more…? Read other articles in this series - click here.

Browse more articles about change and transformation.

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Need support in your organisation? Reach out.

Whiteark is not your average consulting firm, we have first-hand experience in delivering transformation programs for private equity and other organisations with a focus on people just as much as financial outcomes.

We understand that execution is the hardest part, and so we roll our sleeves up and work with you to ensure we can deliver the required outcomes for the business. Our co-founders have a combined experience of over 50 years’ working as Executives in organisations delivering outcomes for shareholders. Reach out for a no obligation conversation on how we can help you. Contact us on whiteark@whiteark.com.au

Article by Jo Hands, Co-Founder Whiteark

Simplification

Simplification... it's the buzz word. But it’s not to be eye rolled, because when done effectively, it can have brilliant (and profitable) outcomes.

The power of simplifying your organisation can:

• Drive improved employee experience

• Drive improved customer experience

• Drive efficiency and better commercial benefits

• Improved governance

• Improved simplification

• …and more

Companies create complexity as they grow, and action is required to change. You don't want to shave around edges, so instead create a set of criteria - and be very clear on what must change. Then build a program of work around this.

 Ask yourself, does your company have:  

• Too many products

• Too many price points

• A complex labour module

• A complex IT / technology set up

• Governance processes

• Decision processes

It's the time to take a hard line on simplifying your business in order to drive improvement. Download our free guide below to help you analyse your business processes and get started…

James Ciuffetelli and Jo Hands have practical experience in helping companies implement change around simplification, and we have seen the benefits this provided. Get in touch for a no obligation conversation about how you can strategically simplify your business.

Browse more articles about change and transformation.

---

Need support in your organisation? Reach out.

Whiteark is not your average consulting firm, we have first-hand experience in delivering transformation programs for private equity and other organisations with a focus on people just as much as financial outcomes.

We understand that execution is the hardest part, and so we roll our sleeves up and work with you to ensure we can deliver the required outcomes for the business. Our co-founders have a combined experience of over 50 years’ working as Executives in organisations delivering outcomes for shareholders. Reach out for a no obligation conversation on how we can help you. Contact us on whiteark@whiteark.com.au

Article by Jo Hands, Co-Founder Whiteark

Perspective...

There are certain things in life that result in an increase in perspective. It's normally something unpleasant.

So does it take something unpleasant to happen to you or someone you love in order to create perspective? Perhaps. 

The reality is, your newfound perspective needs to be strong enough to drive a change in behaviour. And this newfound behaviour must be consistent and enduring in order to make long term sustainable change. 

Ask yourself:

• What things in your life have given you perspective? 

• Has it resulted in a behaviour change, and if yes, for how long?   

Our recent shared experience of Covid19 has given everyone perspective (in differing degrees) which has resulted in behavioural changes throughout society.

These ideas have been taken from our podcast episode with Bernard Salt about Building A Better Australia (EP016). 🎧 Tune in to 𝐓𝐡𝐞 𝐂𝐡𝐢𝐞𝐟𝐬 🎧

Let’s explore some emerging thoughts as a result of altered perspectives:

• People are considering career changes

• People are thinking differently about work - and what flexibility means to them

• People are reconsidering overseas trips and business trips 

• People are considering where they live 

• People are considering how they spend there money 

These ideas have been taken from our podcast episode with Bernard Salt about Building A Better Australia (EP016). 🎧 Tune in to 𝐓𝐡𝐞 𝐂𝐡𝐢𝐞𝐟𝐬 🎧

This disruption has triggered major changes in the way people think and operate, and has resulted in a number of trends:

• A push for flexibility or people are changing jobs 

• Remote working: Living regionally,  working CBD 

• People changing jobs with a major challenge around War On Talent

These ideas have been taken from our podcast episode with Bernard Salt about Building A Better Australia (EP016). 🎧 Tune in to 𝐓𝐡𝐞 𝐂𝐡𝐢𝐞𝐟𝐬 🎧

So, what does this mean for organisations and leaders?

• Acquiring and retaining talent is more difficult 

• Policies around flexibility are critical 

• Building connection with team members will result in better retention 

• Leaders need to tweak their style as a result of hybrid working and find something that works for teams and organisation

• Executives need to proactively manage their people - creating a great place to work, with flexibility and opportunity and ensure attract and retain top talent . Having a clear people plan and communications will be critical

• Building a way to measure productive work is really important that moves from hours to time to be productive 

Leaders need to pivot to be relevant, right now.  How are you pivoting your style to be relevant?

Need some inspiration? Reach out to us for a no obligation conversation today.

Browse more articles about change and transformation.

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Need support in your organisation? Reach out.

Whiteark is not your average consulting firm, we have first-hand experience in delivering transformation programs for private equity and other organisations with a focus on people just as much as financial outcomes.

We understand that execution is the hardest part, and so we roll our sleeves up and work with you to ensure we can deliver the required outcomes for the business. Our co-founders have a combined experience of over 50 years’ working as Executives in organisations delivering outcomes for shareholders. Reach out for a no obligation conversation on how we can help you. Contact us on whiteark@whiteark.com.au

Article by Jo Hands, Co-Founder Whiteark

How to effectively navigate change...

Change isn't easy. Most people resist it. Most people find a way or an excuse not to change. It's human nature. 

But change is inevitable and for high performing companies a must. So as a leader you need to determine how to navigate change…

Five key tips:

1. Make a case for change - the 'why'

2. Get Executive buy-in / sponsorship 

3. Build a champion network to drive change 

4. Set goals and measure success 

5. Communicate, communicate, communicate 

When you start change program, you will have naysayers - people who say it's not going to work, we have tried this before, it's not worth the effort. You need to push through and show them all you can make change - showing activity and outcome is critical. 

The culture of an organisation will determine how hard it is to drive change - and therefore doing some change around culture is critical.

There are so many things you can do to drive culture improvement but the most important is to have the right leaders. If you don't have the right leadership team, you will likely fail - and so your job is to get the right people in your team to run and manage the teams.

Change is required  - having a team that proactively manages change will give you the best outcome. 

Be bold, ignore the naysayers and make change.

Browse more articles about change and transformation.

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Need support in your organisation? Reach out.

Whiteark is not your average consulting firm, we have first-hand experience in delivering transformation programs for private equity and other organisations with a focus on people just as much as financial outcomes.

We understand that execution is the hardest part, and so we roll our sleeves up and work with you to ensure we can deliver the required outcomes for the business. Our co-founders have a combined experience of over 50 years’ working as Executives in organisations delivering outcomes for shareholders. Reach out for a no obligation conversation on how we can help you. Contact us on whiteark@whiteark.com.au

Article by Jo Hands, Co-Founder Whiteark

Obsessed about business optimisation

Optimisation is an overused word that can mean a lot of things, so let me explain... can a business perform better than they currently are? Can they improve customer experience, their pricing strategy and financial outcomes to drive a better return? In most cases the answer is yes!

I'm that person at the cafe that worries about how the owners are affording to pay all their staff (overstaffed), that nail place that isn't charging enough to make ends meet, the tradie that doesn't make me pay when the service is done but a month later, the discounts in the department stores, the amount of stock on the shelves and the cashflow management of companies.

The COVID period has shown us that companies need to be:

• More efficient

• More commercial

• Focus in on cashflow more

• Get the pricing right

• Focus in on customer experience

Small, medium and large businesses all have areas that they can improve. Research shows that business optimisation can improve the financial performance of your company by 21%+.  

Business owners and leaders need to focus on business optimisation. What are the 4-5 things that will move the dial for your business?

Cashflow optimisation - maximising your working capital through tactical and strategic levers. Are you putting enough focus on this?

Pricing rationalisation - are you charging enough for your product and service and how you do compare to your competitors? 

Strategic sourcing - are you strategic around how you manage your vendors to drive cost improvements and working capital outcomes? 

Process optimisation - improve process efficiency and effectiveness by reducing complexity in the process. 

Property management - lease costs cost approximately $10-12k per person per year. With the new ways of working and companies adapting to remote working, review your lease arrangements and assess whether your company really needs all that space. Can you sublet the space or hand it back to the landlord? Many companies are considering other options in relation to rental space. Are you?

One way to really reset the cost base of a business is the zero-based budget. Read our recent Whiteark article that explains why, how, and when you should use this technique. With a focus on what money is spent on and the return on investment including dollars and time to recover cost outlays, you can significantly change your cost base.

“If I had one hour to save the world, I would spend fifty-five minutes defining the problem and only five minutes finding the solution.”

— Albert Einstein

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Do you need to create a business optimisation plan? Let us help.

At Whiteark we have professionals that have practical, hands on experience on how to optimise business. Understanding every business is different and there is no one size fits all but we would be very happy to have a no obligation conversation around your business optimisation plan. Our co-founders have a combined experience of over 50 years’ working as Executives in organisations delivering outcomes for shareholders. Reach out for a no obligation conversation on how we can help you. Contact us on whiteark@whiteark.com.au

It’s time to simplify

There are a lot of reasons to simplify but why don't companies do it? Because it's hard work. It takes time, money, effort and a lot of change. It's never too late to start and I suggest you make 2021 the year.

Companies have grown too complicated and it results in:

•  Customer dissatisfaction
•  Errors in reporting
•  Lack of good commercial decisions
•  Higher costs
•  Poor management of cash

•  Higher prices
•  Longer lead times to deliver
•  Lack of problem management
•  No accountability
•  Too many people

Companies need to simplify to:

•  More effective
•  Improve the timeliness of data for decision making
•  Improve your competitive advantage

•  Be more price competitive
•  Improve customer experience
•  More efficient

Key considerations to simplify;

•    Less executives

•    Clearer accountability for process and outcomes at the Executive level and clear delegations

•    Black belts to undertake process reviews from end to end and identify areas of waste and the key metrics to focus on to drive process improvement

•    Streamline systems and transition everything to the cloud

•    Determine your outsource strategy - what you want to own v outsource

•    Vendor consolidation to drive savings

•    Create one centralised data hub where all reporting and information is stored as the source of truth

Create some momentum in the organisation to simplify - give the executives and leaders the challenge of identifying areas that the company can simplify and put a program of work together to drive change and promote continuous improvement. Be structured and be clear on mandate. Remember, what gets measured gets done.

“It’s like doing a spring clean of your cupboards - there is some therapeutic and liberating about it and you find the piece to the puzzle that’s been missing. Imagine how you’ll feel when you simplify your organisation - there will never be the perfect time - so decide today to start the process of simplification.”

Looking to simplify the structure and set-up of your organisation? Let us help.

If you need assistance, please reach out to Whiteark as we have extensive experience in simplification programs focused on improving the financial performance of companies, we would be happy to help. Our co-founders have a combined experience of over 50 years’ working as Executives in organisations delivering outcomes for shareholders. Reach out for a no obligation conversation on how we can help you. Contact us on whiteark@whiteark.com.au

How to build the right culture in your company?

Most people assume building the right culture within a company is simple, but the reality is, it’s quite difficult and very few do this well.

Being a start-up or smaller company makes it easier to manage, influence and build the desired culture but as companies grow and evolve it is important that you hold the right culture, and ensure it is driven from the top down.

Let's explore factors that drive culture in organisations:

Recruitment.
Companies recruit based on whether the candidate is the right fit for the company’s culture.

Performance.
Are employees rewarded for practicing the right behaviours, that align with the culture of the organisation.

Values.
Most companies have values that are core to their operations. These are usually displayed on their website, the walls in their office and screensavers to remind their community of what their foundations are built around. Many companies have values but very few actually live them; this needs to be driven from the top. Do your executives live/display the company’s values?

Leadership.
The leadership in the organisation sets the tone, and ultimately that culture of an organisation.

We all want to work for a company with the right culture. While there are some things we can control – culture is the responsibility of the leadership team to drive.

“If you change your mindset, you have the ability to change your whole world.”

— Damien Thomas

4 key things to consider when influencing culture:

1. Leadership team - right people, right behaviours and help build out the culture in organisation.

2. Reward performance/behaviour aligned with culture and values.

3. Continuously remind/train employees on what is expected of them from the time they join

4. Ensure there is an outcome if employees are not aligned to expectations

As a leader in a company you must set the right culture and foster it. A positive culture is the biggest driver of productivity in any organization and people spend a lot of time working, so it is important to create an enjoyable workplace environment.  

You can have the best business strategy in the world but if your culture is rotten you won't be successful in the long-term.

“Alone, we can do so little; together we can do so much.”

— Helen Keller

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Looking to create a lasting culture and rally the team in your organisation? Let us help.

Whiteark is not your average consulting firm, we have first-hand experience in delivering transformation programs for private equity and other organisations with a focus on people just as much as financial outcomes. We understand that execution is the hardest part, and so we roll our sleeves up and work with you to ensure we can deliver the required outcomes for the business. Our co-founders have a combined experience of over 50 years’ working as Executives in organisations delivering outcomes for shareholders. Reach out for a no obligation conversation on how we can help you. Contact us on whiteark@whiteark.com.au

Does it take a crisis for change to occur quickly?

Sitting around the table at Christmas everyone talked about how quickly their companies responded to Covid-19. People were shocked and surprised and impressed all at once.

In general companies are slow to make a change but when faced with a crisis they were able to respond differently, quickly, decisively and achieve an outcome. Why does it take a crisis to make a change this quickly? In recent conversations on this topic with my network, many people believe that's just how it is and nothing you can do to fix it -- but I'm not convinced that is right and would love to explore this further.

Speed is a differentiator for companies:

•    Speed to market competitive advantage

•    Speed on process drives efficiency and productivity

•    Speed to deliver product or service

•    Speed to pivot when something goes wrong

So if speed is so important why don't companies focus on what is slowing them down and focus on increasing speed. There seems like a lot of benefits of speed.

The Four Factors…

Below are 4 key factors that slow companies down. Do any of these resonate for your company?

1.         Process, policies and red tape.

Companies implement processes, policies and standards to ensure consistent application of outcomes across the company. This can create barriers for speed to get things done.

2.         Unclear accountabilities.

It's not clear who is responsible or accountable for the activity. Many meetings but no one takes responsibility.

3.         Unclear delegation.

It's not clear who can make the decision or it needs executive approval and therefore this is a formal process that takes time (6-8 weeks).

4.         Leadership team unable to make a decision.

They go around in circles on the pros and cons before making a decision - sometimes a decision is ever made. Making no decision is worse than making the wrong decisions.

I don't believe there needs to be a crisis to speed up businesses.

Survival and competitive positioning rely on speed and therefore every company needs to consider how they increase their speed. Consider what is slowing your company down and what changes are required to speed it up and the benefits.

Reflect, reset and charge -- take charge in leading your company to increase the speed across all aspects. What are you waiting for? Time is money!!

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Looking to reset your own strategic priorities and make some change in your organisation? Let us help.

Whiteark is not your average consulting firm, we have first-hand experience in delivering transformation programs for private equity and other organisations with a focus on people just as much as financial outcomes. We understand that execution is the hardest part, and so we roll our sleeves up and work with you to ensure we can deliver the required outcomes for the business. Our co-founders have a combined experience of over 50 years’ working as Executives in organisations delivering outcomes for shareholders. Reach out for a no obligation conversation on how we can help you. Contact us on whiteark@whiteark.com.au

Strategy to Execution

According to Gartner’s research (Strategy Execution Change Model Survey in 2019), only 46% of Executives and Managers felt their efforts were aligned to strategy.

There are 4 key building blocks to guide the process of strategy to execution:

#1

Market & Industry Trends

#3

Build the Plan

#2

Company Strategy

#4

Manage Performance

STRATEGY BUILDING BLOCKS

The Key Initiatives UNPACKED

What & Why?

The first two building blocks are part of identifying the strategic plan – what and why?

1. Market and industry trends – this is where you begin to address the strategic questions; understand key trends for the market, industry, economy, people and workforce.

2. Company’s strategy – this is where you articulate your goals. Define your mission/purpose to explain the reason for your existence; your core values that your foundations are built upon; your vision of what you want to be; where you have a competitive advantage; your key areas of focus; long term objectives and financial outlook.

Who, Where, When & How?

The following two building blocks focus on implementing the strategy – who, where, when and how?

1. Build the plan – this is where you align the company’s ways of working to support the strategy. Identify your company goals; understand the required capability and how to build this within your organisation; determine the metrics that will measure your success; build a budget that supports your strategy; understand your regulatory obligations; identify any risks and build out your initiatives ensuring they complement your strategy.

2. Manage performance – in order to measure your success you need to undertake regular performance reviews; evaluate the performance of your key metrics and your initiative program of work so that you are able to respond/pivot if required in order to keep to your strategic objectives; monitor any risks, challenges, issues to ensure your execution plan remains on track.

Source: 2019 Gartner Strategy Execution Change Model Survey