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Business Strategy with Raj - S1 - 11.08/20 - Coggle Diagram
Business Strategy with Raj - S1 - 11.08/20
Which members of the management
team will stay around to run the business?
All other than Nick and Janelle
What are the critical success factors we need to have in place to have a saleable asset?
Operations
Product & Process
An established and well managed Software development methdology that is adaptable to support project delivery and new product developments
An efficient and profitable implementation process
A process that provides responsive and informative support to our Customer and Parntners
A sales process and methodology that acheives a high conversion rate
Acheive a better than industry average defect rate
Infrastraucture & hosting that is cosrt effective, scalable, secure and local
A marketing process that attracts relevant and high quality leads and natures these through a lead lifecycle
Have (or in the process of developing) a progressive product that is on trend with modern technologies, secure and easy to support
Acheive high user adoption and increase value chain with customers through strategic account management
Acheive a culture that promotes innovation, collaboration with high staff retention
Finance
Secured Intellectual Property and Brand Assets
Cost efficient work arrangement that reduce reduce the financial investments in large facilities
A strong balance sheet over a 3 year period prior to year 10. Sustained revenue and profit growth from year 3 onwards
Have in place a strong, connected leadership team and advisory board
Acheive $6.5M in revenue in year 5
Acheive $25M in revenue in year 10
What does a saleable asset look like in general?
Well established brand
High market share
High businesses potential (e.g. setting oursleved as a leader in mature markets and eploring growing markets)
Strong sustained financial performance (3 years of good bottom line with healthy growth)
A modern and well architected technology stack (i.e. how well does the system scale, ease of maintenance, adaptability, use of modern design standards)
Simple to implement
Simple to support
Ensuring a long end of life for product and a strong product vision
Ability to sell (new client and upsell to existing)
Strategic projection of the company
Strong leadership and management dirving a positive culture
think about the management structure
CEO
Head of Sales
Head of Marketing
Head of Professional Services
Head of Client Services
Head of Client Success
Head of Product
Head of Product Development
Head of Finance & Administration
Head of Security & Infrastructure
What does a secure business look like
Positive cashflow / credit facility
Year on year growth of 40% from years 5 to 10
A positive & ambitious culture
Fosters and promotes innovation
Tight knit family like culture
Strong relationships with partner channels - servicing 50% of total customers
Highly satisfied customer base of X customers
40% growth in year 3 to 4
30% growth in year 4 to 5
think about a proof of concept strategy
Does it work for clients who have procured it? Is it benefeting the client?
Are we acheiving the right level of revenue for the input we are putting in?
Have we been able to sell it to a market segment?
Is the client likely to renew?
Has it been hard to implement skefto?
Has it increased efficacy for the client?
Has it been hard to provide support for skefto
Have the utilisation/adoption rates met industry standards?
Lead indicators (e.g. customer effort score)?
what proportion of time should we be spending on each vertical market segment
3 month campaigns for each vertical market
Q4 2020 - Aged Care - Nick (with support from Kosta)
Q1 2021 - State Government - Kosta (with support from Nick)
University - Kosta (slow burn - plant some seeds)
Independant Schools - Nick (slow burn - plant some seeds)
think about selection of suitable partners
narrow focus of reseller to vertical segement we are tagetting
what staff / resources do we require to support X resellers who are servicing X number of clients
certification program (that might have a cost associated) that need to be renewed annually
provide online library / learning centre / knowledge base
pilot program to assess partner adoption and support requirements. Is the partner and skefto benefiting from the arrangement?
establish connections with referral partners
estblish connection with strategic partners
Devise different growth scenarios