Questions & Answers
Q & A
Frequently Asked Questions
Examples of Key Indications of the need of a Critical Few Workshop
- Portfolio company is showing declines in margins, missing financial targets.
- Undetermined best practice for market expansion opportunities.
- Lack of Standard Operating Procedures – “Mom and Pop” managerial processes
- Significant dependency on existing clients/customers for growth.
- Inability to demonstrate product/service profit contribution.
- Poor rate of new sales proposal acceptance.
- Inability to establish key performance indicators – effective Business Analytics.
- Increase in employee turnover.
- Competition growth, taking market share.
- Decrease in quality measurement.
- High rework/returns.
- Decline in sales revenues.
- Higher than targeted investment in inventory.
- Non-responsive Information Systems. Example: proliferation of spreadsheets and PowerPoint presentations
- No true succession plan – expressed interest in exit by key executives but no plan in place
- Growth in infrastructure costs greater than growth in potential revenue
- Under-utilization of social media
- Lack of Cost per Sale metrics, sales funnels and automated marketing
- Brochure style website – low traffic and low conversion
- Concern for product obsolescence
- Overall need to standardize sales process & compensation
Arrow Up Partners Facilitation Fees:
- Fixed Fees for the 2-3 Day Workshop
Workshop - Out of Pocket Fees Covered by Client
- Hotel Conference Room Rental
- Rooms for overnight (if applicable)
- Travel Fees (if necessary)
Post Workshop Implementation
- Determined by client Critical Few initiatives as identified during the workshop
- Arrow Up Partners provides implementation support managing the client’s internal teams
- Fees are estimated in a Scope of Work agreement based on an estimated of the number of hours required. Fees are paid via a monthly billing against the Scope of Work
Ongoing Accountability Management
- Based on the team’s momentum when implementing the Critical Few initiatives many clients request Arrow Up Partners to stay connected and hold monthly accountability meetings. Fees are estimated in a Scope of Work agreement based on an estimated of the number of hours required.
Critical Few workshop makes sense when:
- The portfolio company appears to know what they want, but are uncertain on how to get there
- The portfolio company executive team is spending too much time working in the business and not on the business
- Our portfolio company team appears reactive rather than proactive
- The portfolio company is struggling to create focus and accountability
- The portfolio company does planning but seldom follows through
- There are so many opportunities that portfolio company doesn’t focus well
- The portfolio company employees are challenged with aligning their activities and responsibilities to the overall direction of the firm
- There is too much dependency on select individuals— making growth a challenge
- Portfolio company executive staff, trusted advisors, investors, and leadership team
- Staff members responsible for the implementation of strategy
- Members of the trusted advisory board
- The key is to identify the critical few initiatives, create a charter for each and identify a single person responsible for leading the implementation. The leader is to identify the internal resources necessary to complete the steps
- Purpose is to create an environment of inclusion to align the team to the mission and target operating model
- The team involvement is defined during the strategic workshop
- We allocate a process to monitor completion of tasks to focus on implementation of the critical initiatives
- The Executive team is involved during the pre-workshop to help set the parameters of the workshop
- We do additional discovery to help validate the current processes and practices
- Discovery meetings with “C” level to set parameters for target operating model”
- Templates distributed to include such areas as SWOT (Strengths, Weaknesses, Opportunities and Threats)
- Agenda preparation for review by CEO
- Review of the strategic planning deliverables (Chartering)
- Validation of Mission, Vision and Culture
- Introduction of all participants
- Outline of the Target Operating Model
- Review of current operating model
- Brainstorming to create the 3 – 5 critical few initiatives
- Assigning critical few initiative leaders
- Development of detail charters
- Presentations by critical few initiative leaders
- Outline of implementation timeline & accountability
- Preparation of Board presentations of strategy and expected results
- On-going support to charter leaders
- Feedback to investors and board
- Facilitating team meetings as necessary
- Taking on specific tasks associated with charters – resource availability
- The launch of a new product would be a specific charter that outlines the tasks necessary to complete the launch, set expectation parameters and define milestones
- For a target acquisition, the critical few initiative outlines the steps necessary to complete due diligence – by defining the Target Operating Model the fit of an acquisition would be better defined
- We start with a client phone call designed to create an understanding of the client’s overall vision and the desired outcomes.
Arrow Up Partners provide a proposal which includes:
- An outline showing the strategic planning process along with the deliverables associated with the workshop. (Post workshop deliverables will be based under separate scope of work.)
- Workshop costs. (Fixed fee for workshop. Payment of 40% upon approval of proposal, remaining 60% billed upon completion.)
- Workshop timing and location.
- Workshop agenda.