Dr. Jason’s Speak Life™ Newsletter – Volume 7 Issue 4
Inside This Issue
• Charting Your Organization’s Impact
• Message from the President
• Consulting Focus: Organic Growth
• Industry Perspectives
Charting Your Organization’s Impact
Stakeholders in your organization care that your organization is making a difference, but often have a hard time finding information about the impact your organization has been having. Charting and quantifying impact helps your organization tell your story in an understandable and succinct way. Quantifying your business benefits helps you sell more products or services. This helps customers and prospects understand what the actual impact could be for them.
The process of charting impact encourages strategic thinking about how to achieve your organization’s goals. You should also create reports that let you share concise, detailed information about plans and progress with key stakeholders, including the public. Several benefits of doing so include:
• Encouraging people to invest their money, time, and attention in your organization.
• Helping your organization highlight the difference you make.
• Positioning your organization to work with and learn from other organizations.
• Helping your organization sharpen your approaches to making a difference.
Take the time to quantify as many benefits of your business’ solutions as possible!
Message from the President
“Each of us has the power to influence someone else—whether for good or for bad..”
Influence is a powerful force. Each of us has the power to influence someone else—whether for good or for bad. The choice is ours to use our power to be encouraging and affirming to those we encounter daily. We may never know what effect the smallest gesture can have on another person’s life. Our interaction may be the only positive one a person may with someone on any given day.
We may not be able to influence the entire organization, but we can start by influencing one person. We all have a sphere of influence that encompasses the individuals we have relationships with. These are people who are willing to follow us. Many of them look up to us and are watching us, whether we realize it or not. You don’t have to have a title to have influence. All you need is an opportunity.
What can you do today to have a positive influence on someone around you today? Make a list and begin to impact your world! Remember, you can make a difference!
Consulting Focus: Organic Growth
Organic growth is growth that results from existing businesses of a company, rather than growth that occurs from acquiring new businesses. Organic growth is sometimes referred to as internal growth. It is the growth rate that a company can achieve by increasing output and enhancing sales. This does not include any profits or growth generated from acquisitions, takeovers or mergers. These activities are not considered organic because they do not generate profits from within the company. Organic growth is one of the most common and straightforward types of business expansion.
According to Ansoff’s Matrix, there are four ways organic growth can be achieved:
1. Market penetration – selling more products to existing customers
2. Market development – selling products to a wider market, either at home or abroad
3. Product development – increasing the product portfolio by selling new products or services to existing markets
4. Diversification – selling new products or services to new markets.
You can achieve organic growth by selling your products in new geographic areas, or using new sales channels, such as through a wholesaler or website. You can also look at selling to new customers, and selling more product or new products to existing customers.
Organic growth is a long-term strategy. It is a lower risk growth strategy than inorganic growth, as it is building on the company’s strengths to increase sales. It is also easier on your finances. Research suggests that in only 36% of acquisitions do companies realize enough cost savings to cover the premium they have paid. You can achieve growth organically by reinvesting profit back into the business, thus avoiding the need for outside investment.
A consultant’s job is to help and serve the organization that hired him or her. As such, they are viewed as a positive force in the marketplace. Consultants can help a firm be more competitive by assisting them with properly implementing their strategies and managing critical situations. Risk management and project portfolio management top the list of areas of expertise organizations currently seek. Portfolio management and strategic planning are also becoming big areas of growth for consultants.