The Full Potential Process
The Full Potential Process is customized to every client, but has the following basic stages:
- Introductory CEO conversations and proposed approach
- Full Potential Diagnostic -- data request and Executive Team discussions
- Full Potential Deep Dive(s) where most impactful -- fact base development, analysis, opportunity identification/prioritization, implementation support
Fact Base > Analysis > Opportunities
The Toolkit
The Full Potential Toolkit is designed to surface the highest impact opportunities to be pursued by CEOs and their executive teams. In each core area of the business, we start with a discussion of desired outcomes, key questions and initial hypotheses. Then we gather data and conduct analysis, utilizing the relevant tools & approaches, to identify and quantify opportunities.
Customers (Including Product, Marketing, Sales)
Desired outcomes:
- Highly differentiated product or service
- Scalable sales & marketing
- Loyal customers
- Strong brand
Key questions:
- How can we grow our share of wallet with our best customers?
- How can we profitably attract more high value customers?
Toolkit:
- Net Promoter Score (NPS)
- Share of Wallet (SOW)
- Cohort Analysis
- Lifetime Customer Value (LTV)
- Customer Acquisition Cost (CAC)
- LTV/CAC
Market & Competitors
Desired outcomes:
- Market leadership
- Clear segment focus
- Clear competitive advantages
Key questions:
- What is our target market segment, how large is it & how fast is it growing?
- How can we grow the market?
- How can we take market share from our biggest competitors?
Toolkit:
- Total Available Market (TAM)
- Relative Market Share (RMS)
- Relative Cost Position (RCP)
- Performance vs Importance (PVI)
Operations (Includes People, Process, Tools)
Desired outcomes:
- Clear core competencies to develop and protect
- Continuous improvement
Key questions:
- How can we be more productive, timely, accurate and safe?
- How can we make our operations a force multiplier?
Toolkit:
- Best Demonstrated Practices (BDP)
- Activity-Based Costing (ABC)
- Contribution After Marketing (CAM)
- Units Per Hour (UPH) or other productivity KPIs
Financials
Desired outcomes:
- Industry-leading profitability & growth
- Flexibility to re-invest
- Wealth creation for stakeholders
Key questions:
- Where do we make and lose our money? (products, services, channels, customers)
- How are our KPIs tracking relative to internal & external benchmarks?
- Where are the biggest gaps in our financial performance and how can we address them? (P&L, Balance Sheet, Cash Flow)
Toolkit:
- KPI Dashboards
- COMPS - comparable period performance benchmarking
- Product Line Profitability (PLP)
- 1 yr Budget, 5 yr Plan
Team
Desired outcome:
- A high performance culture, with high levels of employee engagement, trust and ownership
Key question:
- How can we unleash the full capabilities and energy of our people?
Tookit:
- Start with "Why"
- Massive Alignment
- Highly Leveraged Activities (HLAs)
- Cascading communication