You can't change other people,
You can only change your reaction to other people.

In this new Legacy program, we cover probably one of the most important insights. It's based on the work Michael and I have been doing with clients worldwide at a senior level, and even at not-so-senior levels, and across cultures.

It's a very important, great trauma—a sense of betrayal, pain, and hurt—that many clients are going to experience in the future, but they're not prepared for it. It's so common that we thought it was worth discussing.

We cover:

- A trauma that many clients are going to experience in the future but are not prepared for (0:30)
- A big issue we see with clients (2:00)
- Clients dealing with perceived injustice (3:15)
- A normal developmental phase that American clients go through earlier in life that Indian and Chinese born clients may go through at around 35-40 years old (4:00)
- An important phase clients who immigrated from India, China, and some other parts of the world go through. Once you see it in yourself, you can’t unsee it (6:00)
- Dealing with (perceived) injustice (7:28)
- One of the greatest tragedies in our culture (7:40)
- What clients often do not expect, but it hits them hard (16:30)
- A huge mistake clients make that cost them too much at the end (21:00)
- How to avoid this great trauma (21:30)
- Avoiding this pain in the future starts with one simple choice (22:55)
- Building your life understanding the consequences (25:00)
- The way to manage this situation and how to avoid huge regrets later in life (25:30)
- Constructing the life that makes you happy (27:00)

If you are a Legacy member, you can access "The Great Trauma We Never Expect, That Often Hits Us" program in your account on StrategyTraining.com. And if you are not a member, you can enroll as a Legacy member here (scroll down to membership options):

www.strategytraining.com

Thank you for being a part of the StrategyTraining.com community. Your growth and success are important to us, and we are here to support you every step of the way. So, if you have any questions, please do not hesitate to email us at team@firmsconsulting.com.

Access New Program (Legacy Members)

P.S. If you are an Insider, you can upgrade to Legacy and come back to Insider WITHOUT losing Insider status. To upgrade, you can go to the Legacy section on StrategyTraining.com, the system will offer an option to upgrade. The system will also automatically use any credit you have associated with your Insider account towards Legacy membership. As a Legacy member, you will not only unlock additional programs within the Legacy membership area but will be able to submit 2 questions per month and receive tailored input from Michael/me, taking into account the specifics you shared of your unique situation. That alone is worth a lot more than the cost of the upgrade. You can get personalized guidance twice a month. If, down the road, you want to switch back from Legacy to Insider, please email team@firmsconsulting.com so we can ensure your Insider status is retained (provided there are no gaps in membership).

“Invest in the most important asset in your portfolio.”
- The MasterPlan. Next Level

The 7th chapter of our new members-only book, "The MasterPlan. Next Level," has been released. It's available exclusively within the Strategy Control Room (Advanced Level).

When I work with a client and show them a revised list of their assets, with assets at the top as the most valuable, they often have a bemused look on their faces. As far as I am aware, we are not trained anywhere in the world, not by any book on investing, not by any investment advisor, not by any wealth management firm, not by any fiduciary, to think of the most important assets we have as an investment.

In this chapter, we explore:

- Creating a reasonably accurate view of your portfolio of assets (page 89)
- Calculating the total value of your asset portfolio (page 89)
- Investing in your most important asset (page 91)
- A story of my greatest investments (page 92)
- Taking earnings and diversifying into other asset classes (page 93)
- The only asset class in which you have nearly total control (page 93)
- Two primary reasons people are usually unwilling to make investments in their most important asset class (page 94)
- Which of my investments had a much higher ROI versus an investment in my MBA (page 95)
- A scary adjustment that happens with age that is keeping people stuck in their careers (page 95)
- A magic phrase I tell myself when I notice I start regretting something or blaming myself (page 96)
- Your Apex asset (page 97)
- Your second crucial asset class that most people don't realize they need to treat as an asset class or invest in (page 97)
- A new way to think about relationships with your spouse (page 100)
- Questions you need to ask your spouse before it is too late (page 101)
- Keeping score of your spouse's needs and if those are being met (page 102)
- The third crucial asset class that people usually do not consider as an asset class and in which many do not invest sufficiently or strategically (page 102)
- Instilling values in your children (page 105)
- Identifying relationships that drive your wealth, taking a rough estimate of their worth in dollars, and developing a plan to invest in them by treating them as an asset class (page 108)
- Four types of relationships (page 108)
- Redoing your list of assets and increasing the value of each investment (page 110)
---

"The MasterPlan. Next Level" updates and refines the concepts from the original program. It's a significant update on the program.

• Fresh and more impactful examples

• Four robust exercises designed to baseline your life and set a new standard for personal evaluation

• This iteration acts as a pivotal bridge to the more advanced concepts explored in The MasterPlan Advanced

• Concepts are introduced via experiences from my life, and explained with case studies from clients

Each stage of the MasterPlan series is intentionally designed to build on the last, ensuring a seamless and powerful enhancement of your capabilities to develop and implement a grand MasterPlan for your career and life.

The MasterPlan Universe:

"The MasterPlan. Next Level" is a crucial expansion that builds upon The MasterPlan program and integrates aspects from The MasterPlan Advanced. For those navigating through our comprehensive MasterPlan content, we recommend the following progression:

• The MasterPlan (Insider and Legacy)

• Implementing the MasterPlan (Insider and Legacy)

• A Midlife Strategy Update (Legacy)

• "The MasterPlan. Next Level" (Strategy Control Room. Advanced)

• The MasterPlan Advanced (Insider and Legacy)

• The MasterPlan Acceleration (Executive coaching program with personalized guidance from Michael and myself)

Engaging with any of these programs individually offers significant benefits, but collectively, they encompass the entire MasterPlan universe. 

HOW TO FIND THE MASTERPLAN. NEXT LEVEL (110 PAGES):

1. Log in to The Strategy Control Room, Advanced Level, membership area.
2. Click on the 3 dots in the upper-right corner.
3. Click on the "STRATEGY MANUALS" button.
4. Select "The MasterPlan. Next Level."

If you are The Strategy Control Room, Advanced Level, member, here is the direct link to this particular update.

If you joined an Advanced Level of the Strategy Control Room today, you would find the most powerful strategy, problem-solving, consulting, and results-oriented leadership reading library in the world. The resources include:

• Michael's explanation slides for selected programs on StrategyTraining.com

• 12 full engagements, including Operations Strategy Study, Competitive Strategy Study, Digital & IT Study, Banking Market Entry, Wealth Management Study, Investor Relations Strategy Study

• Change Management Influence & Gravitas Center of Excellence 

• Detailed Business Case Methodology Center of Excellence 

• Encyclopedia of Strategy Analyses Center of Excellence 

• One-Week Immersion: Consulting Onboarding / Consulting Mastery Center of Excellence

• Corporate Training Center of Excellence 

• 31 proposals

• Flipcharts

• Layout guides

• 17 strategy and problem-solving books which we do not make available anywhere else

• 3 brand new strategy and problem-solving books just released and not available anywhere else

• 11 book drafts never before available and not available anywhere else

• Case interview materials for Felix, Rafik, Samantha, and Sanjeev, case interview exhibits, case interview solutions

• The evolution of corporate strategy

• The business case toolkit

• Implementation and operation toolkit

• Corporate strategy toolkit

• Strategy maps

• And more 

Enroll as a Strategy Control Room Member

The MasterPlan Advanced: new episodes

We just released new episodes of The MasterPlan Advanced, bringing the total to 22 episodes. Over the past seven years, we have introduced three transformative programs within The MasterPlan series.

Core Programs

• The MasterPlan (available to Insiders and Legacy members)

• Implementing the MasterPlan (available to Insiders and Legacy members)

• A MidLife Strategy Update (exclusive to Legacy members)

New Additions

We are now introducing two significant new additions to The MasterPlan universe:

• The MasterPlan Advanced (for Insiders & Legacy members)

• The MasterPlan: Next Level (members-only book exclusive to the SCR (A) members)

In the previous part of this program, we did one major exercise to look at your investment portfolio to show you:

- A lot of the things that you think are your assets
- And that your most important assets may not be as important as you think
- And that we often leave out the things that can create the most value for us 

In this part of the program, we're going to discuss the pleasant part of retirement planning. We are going to go through a scary part of retirement planning very soon as well. And it is a part almost nobody thinks about, nobody plans for. But it gets all of us eventually, and it gets some of us much earlier, in our 50s and 40s. In these new episodes, we dive into the following:

- Questions you need to ask yourself as part of this part of retirement planning (Episode 21 5.30)
- How to answer questions accurately. Specific details you need to include and think through (Episode 21 6:20)
- Things you need to think through to estimate the monthly figure you need during your retirement (Episode 21 8:40)
- Why you need to do this exercise (Episode 21 9:25)
- Something most business professionals don't understand until it is too late (Episode 21 9:40)
- Why, in large part, the MasterPlan Advanced was developed (Episode 21 11:04)
- What most people don't understand about wealth management (Episode 21 11:30)
- Adding up numbers (Episode 21 12:40)
- Doing the math to get to the annual required passive income (Episode 22 1:30)
- Factoring in the first money drain item that many people overlook when planning for retirement and calculations to adjust the annual required passive income (Episode 22 3:00)
- Factoring in the second money drain item that many people overlook when planning for retirement (Episode 22 6:00)
- Factoring in the third money drain item that many people overlook when planning for retirement (Episode 22 8:06)
- Surprising finding about financial planners (Episode 22 8:54)
- Looking at the numbers (Episode 22 11:15)
- Factoring in the fourth money drain item that many people overlook when planning for retirement, a big one (Episode 22 13:03)
- Calculating the return you need to generate to support the annual required passive income number (Episode 22 13:37)
- The fifth money drain item that many people overlook when planning for retirement (Episode 22 15:00)
- And more

Program Distinctions

These programs serve distinct purposes, building upon each other to provide a comprehensive MasterPlan development and implementation path.

• The MasterPlan and Implementing the MasterPlan are the foundational programs that introduce core concepts and strategies for personal and professional growth, setting the stage for further exploration and application.

• The Midlife Strategy Update provides a detailed case study of developing and implementing The MasterPlan during midlife (around age 45).

• The MasterPlan: Next Level is a members-only book exclusively available to the Strategy Control Room (Advanced Level) members. It significantly updates and refines the concepts from the original program, serving as a bridge to The MasterPlan Advanced. It includes robust exercises designed to baseline your life, providing a practical framework for assessing and planning your growth.

• The MasterPlan Advanced can help you bring your MasterPlan to the next level. It is designed for those seeking a more in-depth understanding and ready to apply advanced strategies to their personal and professional lives.

The MasterPlan Program Impact and Evolution

The original MasterPlan and Implementing the MasterPlan have consistently been the most viewed programs on StrategyTraining.com, receiving outstanding feedback for their transformative impact on our members' professional journeys and life strategies. A MidLife Strategy Update holds the record for the most viewed among Legacy offerings. The MasterPlan Advanced was born from the experiences Michael and I have had over the last two years while updating our own MasterPlans for the next few decades and working with executive clients through the same process.

The MasterPlan Advanced introduces powerful new concepts around investing, relationships, building a strong family unit, and more. It is a full new program being released in parallel with "The MasterPlan: Next Level" (SCR (A) members-only book).

Don't Want to Work on This Alone?

In addition to these programs, there is also The MasterPlan Acceleration executive coaching program, where you can work personally with Michael and me as you develop your MasterPlan. This allows you to receive our mentorship and coaching on each aspect of your MasterPlan, taking into account your unique set of assets, your life's purpose (including helping you figure out what your life's purpose is), and your unique situation. The program is designed to allow clients to see the opportunities and risks they may otherwise miss, and develop new powerful ways of thinking and making decisions.

I often hear from members of the FC community that they did not apply for executive coaching with us because they are not as successful as some of our clients. I personally encourage you to apply. If you know my story and if you know us, it will not be a surprise to you that what we are looking for when selecting clients is not your level of success but the kind of person you are and what your intentions are as it relates to using the power and influence once you get it.

If you take a look at our 1-year long executive coaching program, where we work very closely with each client (1:1 in very small groups) as we progress from week to week towards particular goals, each client within a 1-year program is a prior coaching client. And some of those clients started with us while at university and we had the honor of being their guide throughout their entire career journey. Apply here.

Get Started

If you are a member, access the new episodes here or click the button below.

The MasterPlan Advanced (Insiders & Legacy Members)

If you are joining as a new member, start with:

• The MasterPlan 

• Then Implementing the MasterPlan

• A MidLife Strategy Update (if you are a Legacy member)

• Then, The MasterPlan: Next Level (if you are a SCR (A) member)

• And The MasterPlan Advanced to make the most of this seminal program

To access The MasterPlan Advanced, enroll below (scroll down to membership options and select Insider or Legacy).

www.strategytraining.com

As we approach the last 4 months of the year, it's wise to reflect on our progress and make adjustments if needed. Continuing with the same approach and expecting different results will not work. 

The MasterPlan series provides a comprehensive framework for personal and professional growth. It offers a structured approach to developing a cohesive career and life plan, refining your decision-making process, and identifying your unique strengths and advantages. By following The MasterPlan, you can gain clarity and direction, enabling you to make the most of the remaining year and beyond.

Take this opportunity to invest in yourself and your future. The MasterPlan can be transformative, but it's up to you to take action. If you have any questions or need further assistance, please don't hesitate to reach out to us at team@firmsconsulting.com.

“Asking uncomfortable questions leads to enduring personal and professional growth.”

The 6th chapter of our new members-only book, "The MasterPlan. Next Level," has been released. It is available exclusively within the Strategy Control Room (Advanced Level).

In this chapter, we explore key questions you need to ask yourself as you are putting together your MasterPlan. We covered some crucial areas including:

- What many successful clients struggle with behind closed doors (page 81)
- The key components of the MasterPlan (page 83)
- A core set of questions that must be answered as part of developing your MasterPlan (page 84)
- The most important question you need to ask about your marriage (page 84)
- You can build the best MasterPlan in the world, but the answer to this one question will determine if you will be able to implement it or not (page 85)
- Why do some people always end up at the top even if you place them in a new city with no money and ask them to rebuild their life from scratch, and some people always end up at the bottom even if you give them a million dollars and the most enjoyable well-paid job (page 86) 
- A question that will help you put a stop to people crossing all kinds of boundaries with you (page 86)
- The central challenge you face as you are building and implementing your MasterPlan (page 87)

---

"The MasterPlan. Next Level" updates and refines the concepts from the original program. It's a significant update on the program.

• Fresh and more impactful examples

• Four robust exercises designed to baseline your life and set a new standard for personal evaluation

• This iteration acts as a pivotal bridge to the more advanced concepts explored in The MasterPlan Advanced

• Concepts are introduced via experiences from my life, and explained with case studies from clients

Each stage of the MasterPlan series is intentionally designed to build on the last, ensuring a seamless and powerful enhancement of your capabilities to develop and implement a grand MasterPlan for your career and life.

The MasterPlan Universe:

"The MasterPlan. Next Level" is a crucial expansion that builds upon The MasterPlan program and integrates aspects from The MasterPlan Advanced. For those navigating through our comprehensive MasterPlan content, we recommend the following progression:

• The MasterPlan (Insider and Legacy)

• Implementing the MasterPlan (Insider and Legacy)

• A Midlife Strategy Update (Legacy)

• "The MasterPlan. Next Level" (Strategy Control Room. Advanced)

• The MasterPlan Advanced (Insider and Legacy)

• The MasterPlan Acceleration (Executive coaching program with personalized guidance from Michael and myself)

Engaging with any of these programs individually offers significant benefits, but collectively, they encompass the entire MasterPlan universe. 

HOW TO FIND THE MASTERPLAN. NEXT LEVEL (87 PAGES):

1. Log in to The Strategy Control Room, Advanced Level, membership area.
2. Click on the 3 dots in the upper-right corner.
3. Click on the "STRATEGY MANUALS" button.
4. Select "The MasterPlan. Next Level."

If you are The Strategy Control Room, Advanced Level, member, here is the direct link to this particular update.

If you joined an Advanced Level of the Strategy Control Room today, you would find the most powerful strategy, problem-solving, consulting, and results-oriented leadership reading library in the world. The resources include:

• Michael's explanation slides for selected programs on StrategyTraining.com

• 12 full engagements, including Operations Strategy Study, Competitive Strategy Study, Digital & IT Study, Banking Market Entry, Wealth Management Study, Investor Relations Strategy Study

• Change Management Influence & Gravitas Center of Excellence 

• Detailed Business Case Methodology Center of Excellence 

• Encyclopedia of Strategy Analyses Center of Excellence 

• One-Week Immersion: Consulting Onboarding / Consulting Mastery Center of Excellence

• Corporate Training Center of Excellence 

• 31 proposals

• Flipcharts

• Layout guides

• 17 strategy and problem-solving books which we do not make available anywhere else

• 3 brand new strategy and problem-solving books just released and not available anywhere else

• 11 book drafts never before available and not available anywhere else

• Case interview materials for Felix, Rafik, Samantha, and Sanjeev, case interview exhibits, case interview solutions

• The evolution of corporate strategy

• The business case toolkit

• Implementation and operation toolkit

• Corporate strategy toolkit

• Strategy maps

• And more 

Enroll as a Strategy Control Room Member

What does it take to become...

The Youngest Partner Running a Key Practice

We just released new episodes of the much anticipated Analyzing a Strategy Partner's Career program (24 episodes overall). Here are the new episodes you can look forward to (40 minutes of new riveting, thought-provoking transformational training): 

ASPC 21 Where Will You Master the Business Side of Things (10:33)
ASPC 22 Know Your Knock-In And Knock-Out Metrics (08:50)
ASPC 23 Why Functional (Domain) Specialization is a Bad Sales Model (08:19)
ASPC 24 Formal Training Does Not Help Trailblazers (12:09)

Some points we cover:

- Four activities that taught Michael the business side of things (Ep 21 2:00)
- One ability that changed Michael's entire career (Ep 21 3:00)
- Transforming a country into a regional powerhouse (Ep 21 4:30)
- Skills that most people don't learn (Ep 21 8:00)
- A plan for learning these skills (Ep 21 9:00)
- From being someone good at analyses to being someone who leads organizations (Ep 21 10:00)
- Knock-in and knock-out metrics. The thing that knocked you in or out of the game (Ep 22 1:48)
- Running 6 engagements back to back (Ep 22 2:45)
- Understanding knock-in criteria for different levels. How is power generated (Ep 22 4:10)
- How is power generated in industry (versus in consulting) (Ep 22 4:50)
- Sales model of doing fewer proposals (Ep 22 5:30)
- Homework for you to help you figure out how to get promoted to the next level (Ep 22 7:00)
- How you introduce yourself signals your level of seniority (Ep 23 0:30)
- Why senior people in consulting introduce themselves a certain way (Ep 23 0:50)
- Sustainable way to generate sales (Ep 23 3:00)
- What kind of experts are CEOs and senior business leaders interested in (Ep 23 4:90)
- As you become a more senior management consultant, you will discover something very important that you wished you had known about sooner (Ep 23 5:50)
- An approach to sales that set Michael up for accelerated promotions (Ep 23 6:50)
- A decision you need to make (Ep 23 7:30)
- One of the most widely misunderstood approaches to professional careers (Ep 24 0:30)
- Managing 9 initiatives (Ep 24 1:00)
- The mindset that allowed Michael to get promoted to partner in record time (Ep 24 4:00)
- An important thing to understand about the way firms are set up (Ep 24 5:00)
- What you should not do even though most people in the firm will tell you that you should (Ep 24 6:40)
- Why firms can't institutionalize the mode of operation Michael was using (Ep 24 9:30)
- An approach Michael used for managing teams (Ep 24 10:00)
- What makes you a trailblazer (Ep 24 11:30)

This program builds upon the foundational knowledge established in Partnership. Memoir and (Re)Building a Consulting Practice. 

You will find detailed maps, charts, and analyses to break down and analyze a strategy partner's key career moments. We address pivotal questions that can shape your career, such as:

• What does it take to become a partner in just 5 years? 

• How many engagements does one need to master strategy? 

• How many years will it take for a partner to master strategy? 

• What types of engagements teach the core strategy skills? 

• What types of skills must a consultant cumulatively learn to become a strategy partner?

• Does a weak/average engagement rating lead to a CTL? 

• How important is the first engagement? 

• What mix of clients must an aspiring strategy partner serve? 

• Does public sector work help with the partnership nomination? 

• How to professionally and correctly challenge decisions at the firm?

• How do remuneration and special bonuses change over time, levels, and across regions? 

• Does one learn more in an engagement that is going well or poorly? 

• Is it better to be staffed in an elite/weaker and/or western/emerging markets office? 

• What types of partner mentors are needed?

• What is the mix (and number) of corporate strategy engagements needed to master corporate strategy? 

• How to take a leadership role as an associate and where to take a leadership role as an associate? 

• Can one specialize early, and how can this be done? 

• How does one sell the right way, and why is this important? 

• What is the partner engagement workload like? 

• What drives happiness levels as one becomes a partner? 

• Can one be promoted from the Solutions Team to generalist consultant? 

• What happens if the top consultants do not follow you as a partner? 

• What are the pivotal career moments? 

• Does one need to work with many different partners to improve the odds of a partnership nomination? 

• What types of internal roles create the most value? 

• What types of sales strategies can be used?

• What happens at the senior partner level? 

• What can you not be good at and still be promoted? 

• Who checks the partners’ thinking? 

• How does a partner develop new ways of thinking and build a reputation?

This program is designed to impart approaches, ways of thinking, techniques, and strategies that transcend the consulting industry. It offers valuable lessons for any professional seeking to enhance their strategic thinking, leadership skills, ability to influence, and career progression.

Some people are successful wherever you place them because they just get things done. They know how to figure out and navigate the system. And they create the kind of outsized value that makes them valued highly by the most influential people within the system.

The skills you can develop by going through this trilogy (Analyzing a Strategy Partner's Career—Partnership. Memoir—(Re)Building a Consulting Practice) are highly transferable and should not be ignored regardless of whether you are in consulting or not. 

As with all of Michael's programs, these episodes are delivered in a riveting manner, ensuring that you are not only learning but thoroughly engaged with the content. Multiple times, clients have told us that our programs are better than Netflix and HBO. Plus, they can make you the most influential person in the room. 

Analyzing a Strategy Partner's Career (Insiders & Legacy Members)

SCR New: (246 SLIDES) Corporate Strategy Refresh for Large Industrial Group (Executive Update 4)

We have just released the fourth executive update for the Corporate Strategy Refresh for Large Industrial Group in the Strategy Control Room, Advanced Level, for a total of 246 SLIDES.
 

***

The Corporate Strategy Refresh for Large Industrial Group consists of 4 Executive Steering group presentations. For the fourth and final presentation, we will focus on three major topics:

• Additions to EU 3 analysis

• Finished business case

• Proposed way forward

Some of the topics we covered in the Corporate Strategy Refresh for Large Industrial Group included:

- Three major topics that are the focus of the final presentation
- What will enhance sales performance and boost sales motivation
- Leverage areas 
- Quick wins activities
- Key findings of the supplier survey
- A systematic process to implement the material strategy
- Supply chain and quick wins charger
- Engagement management charter
- Sales and channel strategy charter
- Product strategy and pricing stream charter
- Benefits tracking
- Business improvement initiative plan
- Executive team engagement charter
- Percentage of inventory with 3 months or greater stock cover
- Bringing stock levels in line with world-class standards
- The identified benefits in the value chain and associated dollar value
- Progression of analyses from understanding market trends and customer needs to the required service offering
- A need for revised segmentation
- A new segmentation model developed based on customer needs
- Serving channels better by reorganizing the sales force and building customer relationships
- Inconsistencies identified across BU's in terms of average sales rep revenues and the number of customer accounts
- The channels to market proposed by the revised straw model segmentation
- Key opportunities to enhance the performance of the sales organization
- Boosting sales performance and sales motivation
- What is causing lost sales
- What can help in winning new business
- A revised channel structure to reduce the existing sales force
- Top opportunities to deliver benefits 
- Benefits that can be realized through the profitability model
- What the new profitability/pricing model will look like
- The profitability analysis which shows that a large number of products are destroying value
- Two price levels assumed in developing the potential benefits
 - A matrix developed to assess and calculate market potential
- Key focus areas for product strategy
- Erosion of competitive strength by new technologies
- Outlining the major short-term strategic objectives
- Product evaluation logic
- Launching the Intermediate material stock
- Significant opportunity in debtor days by changing the current policy
- Writing off of millions dollars of stock
- Specific quantifiable opportunities based on the diagnostics and analyses
- Evaluating opportunity charts
- Non-financial benefits identified by the team
- Issues outside our scope that will need to be addressed
- A simple segmentation framework to manage our channels to market better
- Missing out on attractive segments because they don't have competitive strengths
- Elements that guided the final engagement design
- Key themes that emerged from the analysis
- Potential Quick Wins identified after the stream's analysis
- Initiatives that are being investigated on the basis of significant opportunities
- Two areas identified where customers see a great need for improvement
- 3 reasons indicated as the primary reasons for poor BU performance
- What attributes each type of customer is focused on
- Planning a cost allocation across product groups to get a better understanding of product profitability
- Problem areas identified after mapping the sales order, planning, and procurement processes
- Percentage of raw materials responsible for 80% of the total raw material cost
- Categorizing materials in terms of cost and criticality to drive strategic material management
- Identified areas of procurement spending in order to focus on the high-impact areas
- The main reasons for changes in the production plan
- Cycle time from identification of customer needs to delivery of goods
- Issues that have emerged downstream
- Two key areas that need to be addressed in the value chain
- Fast-tracking the implementation of opportunities in procurement as a matter of urgency
- The intangible benefits
- The growth of the cost base versus revenue and what was the main driver
- Where the majority of costs are incurred
- Comparing RONA
- Key areas to focus on as part of the Business Improvement Process initiative
- Comparing to industry benchmarks on inventories and accounts receivable
- A possible benefit scenario to improve RONA
- Communication activities that have taken place since the engagement was launched
- Which external stakeholders are suggested to be included in the communication activities
- Themes to focus on in the next EU meeting
- Clear business issues and associated strategies for each material category
- Cost reduction opportunities the team has been devoting attention to
- Revenue impact simulation
- Issues with the existing sales process
- Looking at various sources for possible initiatives
- Different criteria used when segmenting the distribution channel
- Finished goods stock versus the sales of the products
- What forms the greatest % of customer rejects
- Customers that provide more than 50% of revenue and the issue in serving those customers

HOW TO FIND THE CORPORATE STRATEGY REFRESH FOR LARGE INDUSTRIAL GROUP (246 SLIDES):

1. Log in to The Strategy Control Room, Advanced Level, membership area.
2. See the "FULL ENGAGEMENTS" dropdown. 
3. Select "Corporate Strategy Refresh for Large Industrial Group (246 SLIDES)."
4. The Corporate Strategy Refresh for Large Industrial Group consists of 12 parts for Executive Steering Group Presentation 4.

If you are The Strategy Control Room, Advanced Level, member, here is the direct link to these particular updates (246 SLIDES).

If you joined an Advanced Level of the Strategy Control Room today, you would find the most powerful strategy, problem-solving, consulting, and results-oriented leadership reading library in the world. The resources include:

• Michael's explanation slides for selected programs on StrategyTraining.com

• 12 full engagements

• Change Management Influence & Persuasion Center of Excellence 

• Detailed Business Case Methodology Center of Excellence 

• Encyclopedia of Strategy Analyses Center of Excellence 

• Corporate Training Center of Excellence

• One-Week Immersion: Consulting Onboarding / Consulting Mastery Center of Excellence

• 31 proposals

• Flipcharts

• Layout guides

• 17 strategy and problem-solving books which we do not make available anywhere else

• 2 brand new strategy and problem-solving books just released and not available anywhere else

• 11 book drafts never before available and not available anywhere else

• Case interview materials for Felix, Rafik, Samantha, and Sanjeev, case interview exhibits, case interview solutions

• The evolution of corporate strategy

• The business case toolkit

• Implementation and operation toolkit

• Corporate strategy toolkit

• Strategy maps

• And more 

Enroll as a Strategy Control Room Member

We just released new episodes of The Bill Matassoni Show, Season II (26 episodes overall).

"One of the things I said in my book... is how important Marvin Bower was to me at McKinsey. A mentor. Such a strong influence. He had an enormous impact on McKinsey because he stood for a set of principles that mattered to him. 

And they were the principles of a professional. Marvin graduated from Harvard Law School. Then he went to Harvard Business School. ... found a management consulting profession that was indeed as professional and as principled as a law firm.

Because before that, there were time and motion consulting firms. There were engineering firms...

But Bower did that, and when he took over leadership of McKinsey in 1953, the first thing he did was hire young graduates from Harvard Busienss School. And he stopped hiring old men who were selling experience.

Marvin built McKinsey on a set of values and principles that, if you were serious about the firm, you didn't violate these things. And there were rules that we followed."

"Then, 20 years after I made partner, I got pushed out of McKinsey...

I joined the Boston Consulting Group...

What I didn't realize was how different BCG was.

Even if every secret I told about McKinsey to them was true and valuable, they couldn't have implemented it.

Their identity, culture were so different..."

- The Bill Matassoni Show. Season II

"As much as I am proud of giving McKinsey its reputation as a leadership factory, about pointing out that we produce all these CEOs, about making that part of our value proposition to clients, I'm more proud of changing the knowledge management system because it took guts and courage.

Getting the right people in place and understanding how important identity is and what it means to how you operate day to day. And how it makes you who you are, rather than what you say you are.

A lot of people get that one confused.

So, the knowledge management project at McKinsey was an eye-opener for me, and when I got to BCG, I was faster to see how different their culture was because I had just made a major change in McKinsey's five years earlier.

And don't get me wrong, BCG was tremendous fun. These guys loved working together, and they were smart as hell—in many cases, I would say smarter than McKinsey. But they had a different culture because of the genetic makeup Bruce Henderson gave it. 

... They would always ask me, Bill, how does McKinsey does this? We want to know how McKinsey does that. And I would say, you don't want to know because you can't execute it..."

- The Bill Matassoni Show. Season II

Bill had the benefit of a wonderfully varied career in marketing (and strategy) for over 50 years. You can imagine what being able to access 50 years of experience as a senior leader in some of the top organizations in the world, including as a senior partner at McKinsey and BCG, can do for you and your business. 

In season II of The Bill Matassoni Show, we're back in this wonderful house. This is the house that Bill and his wife, Pamela, bought about 30 years ago. It's a classic mid-century modern house that Philip Johnson designed. It looks like a Bond house in some ways.

Bill is back to share some of the best marketing and business strategy secrets he picked up along the way.

By far, the biggest theme of Bill's career is how do you sell ephemeral things.

How do you sell the soft stuff? Because Bill’s career, not by plan, has been selling soft stuff. He headed marketing for United Way of America. How do you sell philanthropy? More importantly, how do you sell secondary demand for philanthropy? It's easy enough to get somebody to give. But how do you go after the bigger givers who think seriously about philanthropy?

Bill’s first job out of Harvard Business School was to sell people on treating their high blood pressure. How do you convince people to treat a disease that’s not curable? Treat a disease that requires behavior change (no salt, lose weight, maybe give up some of their favorite foods, all those things), and keep them on that regimen. That's a tough sell. You learn how to sell high blood pressure treatment, you learn how to sell, you learn how to market. 

Bill was worldwide head of marketing and publications (including McKinsey Quarterly), and brand, as a partner at McKinsey for 18 years. And later for six more years at the Boston Consulting Group.

How do you sell top management on strategy consulting?

How do you sell million-dollar engagements? Engagements that cost three, four, or five hundred thousand a month. What are you selling?

And then later on, after Bill retired from McKinsey and the Boston Consulting Group, he joined a firm called Tapestry, which really figured out how to use marketing in multi-stakeholder environments. It's one thing to use marketing in somewhat simple markets where there's a company, there's a competitor, and there's a customer. But what happens when you have all sorts of other players, regulatory agencies, government, and patient advocates, all those players are in the system, too. Can marketing work there? Bill thinks it can. And the experiences Bill had in the last part of his career proved that to Bill. 

All of those things, to Bill, are ephemeral things. 

Whether or not you sell blood pressure treatments, if you learn the principles of how to sell ephemeral things, just imagine how much easier it is to sell whatever else you might be offering.

So, Bill had an incredible career, and you can have a front-row seat to learn from him. 

If you are a member, to access the first 26 episodes, click the button below.

The Bill Matassoni Show Season 2 (Insiders & Legacy Members)

If you are not a member yet, to access The Bill Matassoni Show, Season II (plus Season I and other advanced programs), enroll below (scroll down to membership options and select Insider or Legacy).

www.strategytraining.com

Remember, my team and I are here to support you. If you have any questions or need further assistance, please don't hesitate to reach out to us at team@firmsconsulting.com.

Also, if you are a senior leader or running a successful business, you have a once-in-a-lifetime chance to co-author a book with Bill Matassoni. The book is designed to focus on leadership lessons. Anything you accomplished or expertise you have can be highlighted from the perspective of leadership lessons. Learn more here.

SCR New: (201 SLIDES) Corporate Strategy Refresh for Large Industrial Group (Executive Update 3)

We have just released the third executive update for the Corporate Strategy Refresh for Large Industrial Group in the Strategy Control Room, Advanced Level, for a total of 201 SLIDES.
 

***

The Corporate Strategy Refresh for Large Industrial Group consists of 4 Executive Steering group presentations. For the third update, we are covering such areas as:

• Further findings by the streams

  • Value Chain

  • Sales and Channel

    • salesforce

    • channel

    • product

  • Quick Wins

• Benefits case

• What the next 2 weeks look like

Here are more details on what is covered:

- How the value chain needs to move from a reactive/functional orientation to an integrated/business orientation, with procurement becoming substantially more integrated into the business as a whole
- Key findings of the supplier survey
- A systematic process to implement the material strategy
- Percentage of inventory with 3 months or greater stock cover
- Bringing stock levels in line with world-class standards
- The identified benefits in the value chain and associated dollar value
- Progression of analyses from understanding market trends and customer needs to the required service offering
- A need for revised segmentation
- A new segmentation model developed based on customer needs
- Serving channels better by reorganizing the sales force and building customer relationships
- Inconsistencies identified across BU's in terms of average sales rep revenues and the number of customer accounts
- The channels to market proposed by the revised straw model segmentation
- Key opportunities to enhance the performance of the sales organization
- Boosting sales performance and sales motivation
- What is causing lost sales
- What can help in winning new business
- A revised channel structure to reduce the existing sales force
- Top opportunities to deliver benefits 
- Benefits that can be realized through the profitability model
- What the new profitability/pricing model will look like
- The profitability analysis which shows that a large number of products are destroying value
- Two price levels assumed in developing the potential benefits
 - A matrix developed to assess and calculate market potential
- Key focus areas for product strategy
- Erosion of competitive strength by new technologies
- Outlining the major short-term strategic objectives
- Product evaluation logic
- Launching the Intermediate material stock
- Significant opportunity in debtor days by changing the current policy
- Writing off of millions dollars of stock
- Specific quantifiable opportunities based on the diagnostics and analyses
- Evaluating opportunity charts
- Non-financial benefits identified by the team
- Issues outside our scope that will need to be addressed
- A simple segmentation framework to manage our channels to market better
- Missing out on attractive segments because they don't have competitive strengths
- Elements that guided the final engagement design
- Key themes that emerged from the analysis
- Potential Quick Wins identified after the stream's analysis
- Initiatives that are being investigated on the basis of significant opportunities
- Two areas identified where customers see a great need for improvement
- 3 reasons indicated as the primary reasons for poor BU performance
- What attributes each type of customer is focused on
- Planning a cost allocation across product groups to get a better understanding of product profitability
- Problem areas identified after mapping the sales order, planning, and procurement processes
- Percentage of raw materials responsible for 80% of the total raw material cost
- Categorizing materials in terms of cost and criticality to drive strategic material management
- Identified areas of procurement spending in order to focus on the high-impact areas
- The main reasons for changes in the production plan
- Cycle time from identification of customer needs to delivery of goods
- Issues that have emerged downstream
- Two key areas that need to be addressed in the value chain
- Fast-tracking the implementation of opportunities in procurement as a matter of urgency
- The intangible benefits
- The growth of the cost base versus revenue and what was the main driver
- Where the majority of costs are incurred
- Comparing RONA
- Key areas to focus on as part of the Business Improvement Process initiative
- Comparing to industry benchmarks on inventories and accounts receivable
- A possible benefit scenario to achieve 18% RONA
- Communication activities that have taken place since the engagement was launched
- Which external stakeholders are suggested to be included in the communication activities
- Themes to focus on in the next EU meeting
- Clear business issues and associated strategies for each material category
- Cost reduction opportunities the team has been devoting attention to
- Revenue impact simulation
- Issues with the existing sales process
- Looking at various sources for possible initiatives
- Different criteria used when segmenting the distribution channel
- Finished goods stock versus the sales of the products
- What forms the greatest % of customer rejects
- Customers that provide more than 50% of revenue and the issue in serving those customers

HOW TO FIND THE CORPORATE STRATEGY REFRESH FOR LARGE INDUSTRIAL GROUP (201 SLIDES):

1. Log in to The Strategy Control Room, Advanced Level, membership area.
2. See the "FULL ENGAGEMENTS" dropdown. 
3. Select "Corporate Strategy Refresh for Large Industrial Group (201 SLIDES)."
4. The Corporate Strategy Refresh for Large Industrial Group consists of 10 parts for Executive Steering Group Presentation 3.

If you are The Strategy Control Room, Advanced Level, member, here is the direct link to these particular updates (201 SLIDES).

If you joined an Advanced Level of the Strategy Control Room today, you would find the most powerful strategy, problem-solving, consulting, and results-oriented leadership reading library in the world. The resources include:

• Michael's explanation slides for selected programs on StrategyTraining.com

• 11 full engagements

• Change Management Influence & Persuasion Center of Excellence 

• Detailed Business Case Methodology Center of Excellence 

• Encyclopedia of Strategy Analyses Center of Excellence 

• Corporate Training Center of Excellence

• One-Week Immersion: Consulting Onboarding / Consulting Mastery Center of Excellence

• 31 proposals

• Flipcharts

• Layout guides

• 17 strategy and problem-solving books which we do not make available anywhere else

• 2 brand new strategy and problem-solving books just released and not available anywhere else

• 11 book drafts never before available and not available anywhere else

• Case interview materials for Felix, Rafik, Samantha, and Sanjeev, case interview exhibits, case interview solutions

• The evolution of corporate strategy

• The business case toolkit

• Implementation and operation toolkit

• Corporate strategy toolkit

• Strategy maps

• And more 

Enroll as a Strategy Control Room Member

How to Create Value from Your Time

How can you get more things done in the same…
24 Hours You Have?

In this new Legacy program, Michael shares how, as a leader within an organization, you can accomplish a lot more with the 24 hours per day you have.

Some specific insights covered include:

• Setting up rules for how to work with unorganized people to get things moving and allow for some sanity (2:00)

• The process Michael follows to develop original thinking (3:00)

• How can you set up so that from every engagement, you can have a thought leadership piece and adopt those articles for internal and external publications (3:50)

• Working with clients to help you come up with new approaches in a way where everyone benefits (5:00)

• A key role you need to create on your team that will allow you to get a lot more done (7:42)

• A specific team structure that allows you to successfully manage multiple demanding projects in parallel. Michael explains why you give it a precise structure, use distinct terminology, track it, and give credit (9:00)

• How Michael worded and structured things when he would pull people in to work on proposals that resulted in elevating the work and making it much more prestigious to be involved. This approach resulted in Michael not having to work on many proposals. More generally, how to create pride in the work you are asking people to do (11:30)

• Why you should not be asking people for help and what you should do instead (12:35)

• What clients get very excited about that is also very good for you (13:20)

• How to have extremely loyal people on your team (14:10)

• How to take away pressure from you from driving many things (14:50)

• Creating a generational communicator that explains why you do certain things or why you do them in a certain way (16.30)

• Creating a system that makes your team members more valuable (16:40)

• Specific integration steps to follow if you want to focus on quick integration (17:15)

• Working with the Marketing part of the company in a way that builds a lot of value for everyone involved (18:00)

• What can completely change the dynamics of what you are doing with clients (18:15)

• Creating a sanitized and internal version of thought leadership (20:05)

• The easiest way to get parts of your organization in other countries to pull you into their projects (20:35)

• Leveraging the core thing you are doing and extracting more value from that activity (21:55)

• How to make your thought leadership stand out (22:20)

Michael is the most organized and effective person I know. He can do in 1 day what other people can't accomplish in 6 months. I have never met anyone more skilled when it comes to being an effective leader (among his other remarkable talents). So having an opportunity to learn from him is a huge privilege and honor for me personally, and I hope you are making the most of this rare access to his original (versus derivative, which is what you find in most places) thinking and often unexpected approaches which are only shared after they are battle tested so they can set you apart from your peers and competitors.

If you are a Legacy member, you can access the "How to Create Value From Your Time" program in your account on StrategyTraining.com. And if you are not a member, you can enroll here (scroll down to membership options):

www.strategytraining.com

Thank you for being a part of the StrategyTraining.com community. Your growth and success are important to us, and we are here to support you every step of the way. So if you have any questions, please do not hesitate to email us at team@firmsconsulting.com.

Access New Program (Legacy Members)

Take care,

Kris Safarova 
Presiding Partner FIRMSconsulting.com & StrategyTraining.com

P.S. If you are an Insider, you can upgrade to Legacy and come back to Insider WITHOUT losing Insider status. To upgrade, you can go to the Legacy section on StrategyTraining.com, the system will offer an option to upgrade. The system will also automatically use any credit you have associated with your Insider account towards Legacy membership. As a Legacy member, you will not only unlock additional programs within the Legacy membership area but will be able to submit 2 questions per month and receive tailored input from Michael/me, taking into account the specifics you shared of your unique situation. That alone is worth a lot more than the cost of the upgrade. You can get personalized guidance twice a month. If, down the road, you want to switch back from Legacy to Insider, please email team@firmsconsulting.com so we can ensure your Insider status is retained (provided there are no gaps in membership).

We just released new episodes of The Bill Matassoni Show, Season 2 (23 episodes overall). Below is a small excerpt to give you a preview...

"There's a lot to be said for developing hybrid value chains to reach both social and economic goals.

I bring this up for a reason: I am not impressed with Corporate Social Responsibility efforts by companies.

They don't do much.

I don't see any evidence of impact or staying power.

I don't think it helps the company in its core business, and if it's not helping a company with its core business, it's going to go away.

It's not going to last.

I don't get a sense of commitment, whereas hybrid value chains will help governments."

- The Bill Matassoni Show. Season II
Episode 23

"Everyone thought the strategy practice
would help set McKinsey apart.

Yet, it was the organizational design practice
with partners like Tom Peters who got things going."

Bill had the benefit of a wonderfully varied career in marketing (and strategy) for over 50 years. You can imagine what being able to access 50 years of experience as a senior leader in some of the top organizations in the world, including as a senior partner at McKinsey and BCG, can do for you and your business. 

In season II of The Bill Matassoni Show, we're back in this wonderful house. This is the house that Bill and his wife, Pamela, bought about 30 years ago. It's a classic mid-century modern house that Philip Johnson designed. It looks like a Bond house in some ways.

Bill is back to share some of the best marketing and business strategy secrets he picked up along the way.

By far, the biggest theme of Bill's career is how do you sell ephemeral things.

How do you sell the soft stuff? Because Bill’s career, not by plan, has been selling soft stuff. He headed marketing for United Way of America. How do you sell philanthropy? More importantly, how do you sell secondary demand for philanthropy? It's easy enough to get somebody to give. But how do you go after the bigger givers who think seriously about philanthropy?

Bill’s first job out of Harvard Business School was to sell people on treating their high blood pressure. How do you convince people to treat a disease that’s not curable? Treat a disease that requires behavior change (no salt, lose weight, maybe give up some of their favorite foods, all those things), and keep them on that regimen. That's a tough sell. You learn how to sell high blood pressure treatment, you learn how to sell, you learn how to market. 

Bill was worldwide head of marketing and publications (including McKinsey Quarterly), and brand, as a partner at McKinsey for 18 years. And later for six more years at the Boston Consulting Group.

How do you sell top management on strategy consulting?

How do you sell million-dollar engagements? Engagements that cost three, four, or five hundred thousand a month. What are you selling?

And then later on, after Bill retired from McKinsey and the Boston Consulting Group, he joined a firm called Tapestry, which really figured out how to use marketing in multi-stakeholder environments. It's one thing to use marketing in somewhat simple markets where there's a company, there's a competitor, and there's a customer. But what happens when you have all sorts of other players, regulatory agencies, government, and patient advocates, all those players are in the system, too. Can marketing work there? Bill thinks it can. And the experiences Bill had in the last part of his career proved that to Bill. 

All of those things, to Bill, are ephemeral things. 

Whether or not you sell blood pressure treatments, if you learn the principles of how to sell ephemeral things, just imagine how much easier it is to sell whatever else you might be offering.

So, Bill had an increadible career, and you can have a front-row seat to learn from Bill. 
 

Get Started

If you are a member, access the first 23 episodes here or click the button below.

The Bill Matassoni Show Season 2 (Insiders & Legacy Members)

If you are not a member yet, to access The Bill Matassoni Show, Season II (plus Season I and other advanced programs), enroll below (scroll down to membership options and select Insider or Legacy).

www.strategytraining.com

Remember, my team and I are here to support you every step of the way. If you have any questions or need further assistance, please don't hesitate to reach out to us at team@firmsconsulting.com.