15/11/2009 by Stephen Coe.

There is an old adage that you hire a consultant to tell you what you already know. This then begs the question why do it?

Well it is a fact that the concern of senior management is more operational than strategic, it is extremely difficult to step back from day to day life and take in the larger picture. This is where the consultant comes in, unencumbered by day to day concerns the consultant is truly blessed with a unique position. The analogy I like to use is that of an artist who lives under the partonage of a benefactor. Unshackled from the day to day need to provide food and shelter, he is free to paint his masterpiece.

Why is it then that so many strategies lack originality and spark? In my opinion too many strategies are reworked projections based upon historical data. They use the same old tools and  methodology as 95% of the competition, so is it any wonder that they come up with the same result. Think of it in terms of a jigsaw. If everyone as the same pieces they will all come up with the same picture.

To produce a differentiated strategy, a bold new approach is needed. An approach that is forward looking and that stretches the imagination, whilst still retaining sight of a companies core strengths. Returning to the earlier analogy this forward looking approach adds new pieces to the jigsaw and produces an new picture. 

At Balmoral Strategy Development , we have developed processes for companies that want to be different,  We develop game changing strategies that build upon core competence and that position companies to meet future and as yet unarticulated needs of its customers.

 As usual all comments welcome - Stephen Coe, Director Balmoral Strategy Development

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04/08/2009 by Stephen Coe.

Lack of real innovation causes stagnation and eventual decline. Real innovation fulfils a unmet need whether it be known or unarticulated. Innovation makes lives easier or richer. Innovation is not about a continual adding of features not offer little or no benefit. In the past decade we have seen sustained growth and consumers have been eager to lap up anything on offer.  It became to easy for companies to grow with little to no innovation.

Cast your minds back 5 years and how many new products and services have really made a significant difference to our lives?

Post recession we are likely to see a new class of customer. A consumer who is more thrifty with their cash, more product savvy and much more demanding.  Recycling and repackaging the same old value proposition will not be sustainable.

At Balmoral Strategy Development , we believe that innovation should be woven into the fabric of every company’s DNA. It is why we give it so much focus during our strategy development projects.

I urge you all to start thinking INNOVATION today.

As usual all comments welcome - Steve

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25/02/2009 by Stephen Coe.

It is so very easy to get sucked into the general malaise that is sweeping around the world. The media sensationalize and exaggerate every piece of bad news and pretty soon it seems that there is no way out.

My advice is this.

Stop and ask yourself are the reasons why you started the business still current and relevant?

If so then the vision remains alive, it is only the method of achieving it that may need to be changed. That is nothing new, even in successful times companies constantly test, tweak and modify their strategies to meet changing customer needs.

The difference in a downturn is that we may need to make more significant changes, however if the vision remains true, then the end goal is still achievable.

As I have been saying for the last few months, the economic downturn presents opportunities for the bold to redefine not only their businesses, but also their markets and to instigate a ‘new world order’.

We at Balmoral Strategy Development Limited urge everyone to take the opportunity before them, to develop bold innovative value propositions and to put the wheels in motion, which will deliver significant growth over the coming years.

The time for action is now, being positive is the first step to making the vision a reality.

As usual all comments welcome - Stephen Coe, Director Balmoral Strategy Development Limited

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11/02/2009 by Stephen Coe.

As we reflect on the worsening economic situation and the calling to account of banking executives, it is all too easy to become blinkered. That is to say blame the banks for everything that is wrong today. Please do not get me wrong I am no bank apologist, but it does make me cringe when I hear everyone with a failing business blaming the credit crunch for their woes.

The fact is, that despite what some politicians say to the contrary, all economies have a natural cycle. So businesses need to be prepared to accept the hard times along with the good. The problem is we they became lulled and detached from this most basic economic fact, by a unusually long period of sustained growth. They believed because they wanted to believe the hype related to the end of boom and bust. The consequence of all of this is that many businesses grew complacent, failed to innovate and adequately manage their cash-flow. To put it simply they forgot the advice from grandma and failed to put aside cash for a rainy day.

No we hear complaints because banks will not extend their overdrafts. The simple fact is that businesses going bust in an economic downturn is another basic economic fact.

Consider this

Many businesses that start up during the growth phase, often do so without any real differentiation in their value proposition. They survive and may even thrive, because of the growth in demand. A case in point are the many new eateries that have sprung up over the last 5 years. With more disposable income, these restaurants filled a need as people ate out more often, some maybe 3 or 4 times a week. These same businesses only survived because of this usually high demand. History shows that it was only a matter of time before more normal behaviour returned and now we find that these same restaurants are now empty most nights of the week and are making significant losses. Plainly no amount of credit from a bank will rescue them. Their real problem is not cash-flow, but an unsustainable business model.

Another example are businesses that failed to innovate during the growth phase, content to rely on dated products and services. They would argue that business was holding up well and so they did not feel the need to develop new value propositions.

At Balmoral strategy Development Limited we believe that without differentiation there is now long term future for any business. Yes in a growth phase it is possible to gain market share due to shortfalls in capacity of incumbents, but in the long term it is a differentiated value proposition tht wins the day.

It is for this reason that we place Innovation and Differentiation at the centre of all of our strategy processes.

As usual all comments welcome - Stephen Coe, Director Balmoral Strategy Development Limited

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28/01/2009 by Stephen Coe.

Recently I have spoken many times of the need for an innovative approach to the value proposition and the need for differentiation.

Today I ask you to consider the role that alliances and partnerships can provide in developing that differentiation. Careful selection of partners can provide a quick and inexpensive way of expanding the range of products and services offered and has the potential to simplify (translated as reduced cost) the customers purchasing process.

At Balmoral Strategy Development Limited we believe that such an approach provides a real competitive advantage by providing cost and convenience benefit.

Customer knowledge, together with a willingness to share benefits is key, but in these hard times I urge you all to consider adopting such a strategy

As usual all comments welcome - Stephen Coe, Director Balmoral Strategy Development Limited

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26/01/2009 by Stephen Coe.

As many businesses struggle against the deepening recession, it may be a good time for small business owners to reflect and return to basics.

Consider the following

1. Why you originally started the business?
2. What enabled you to do so? 
3. Why were you successful?

It is a pretty safe bet that ambition, drive and passion figured prominently in the answers to 1

A set of competencies complemented by financial funding factor heavily in 2

A unique product or service (value proposition) would have been the key driver to 3

No once again consider the questions , but this time focus on what may have changed.

1. Are you still driving the business with the same amount of passion, do you still have ambition?
2. Have the skills, processes and technologies (competencies) been developed to keep you ahead of the competition?
3. Does the value proposition still hold true with customers, does it still provide differentiation?

At Balmoral Strategy Development Limited we believe that to stand still is to step backwards. Competitors will always be trying to gain market share at your expense. We believe it is therefore vital that a company continually asks itself these three simple questions.

 As usual all comments welcome - Stephen Coe, Director Balmoral strategy Development Ltd

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20/01/2009 by Stephen Coe.

I have spoken in the past of the importance of having a ‘green’ strategy, not only for regulatory compliance, but also for growth. In the current climate we at Balmoral Strategy Development Limited believe that most businesses can add an element of ‘green’ to their value propositions and that doing so can provide real differentiation.

 Here is a quick simple process that I urge you all to consider

• Take a look at the products/services that you provide, the need that they serve and the effects they have, both good and bad on the environment.
• Now try some idea generation, focus on reducing the bad and increasing the good.
• Articulate your new value proposition
• Access funding opportunities related to ‘green’
• Developing a marketing campaign and lever your new environmental credentials.

As usual all comments welcome - Stephen Coe, Director Balmoral Strategy Development Limited

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15/01/2009 by Stephen Coe.

We all know the traditional methods of segmenting markets, that is by customer buying behaviour. Quite often many companies fall short due to a lack of hard market data and as a result most fall back into a standardised industry segmentation used by everyone, that ultimately provides no new insight and white-space.

At Balmoral Strategy Development Limited we look beyond the obvious. We take into account developing trends and emerging needs to project possible buying behaviours of the future. With this approach we create new market segments that cut across many products, services and geographies.

The insights gained in effect redefine the market, provide the company with a direction and early mover competitive advantage.

As usual all comments welcome - Stephen Coe, Director Balmoral Strategy Development Limited 

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08/01/2009 by Stephen Coe.

Orthodoxies exist because at some point the process/service/product that they represented made sense.  The problems start when Orthodoxies become so embedded that they are no longer questioned and innovation is stifled.

When this happens companies face 2 major issues

1. Internal business systems and processes become inefficient and become financial and resource drains.
2. The value proposition associated with the products and services that the company offers no longer meet the needs of its customers.

 At Balmoral Strategy Development Limited we urge all companies to setup a process and work-group that is mandated with:

1. Identifying orthodoxies and analysing the impact that they have on the business.
2. Challenging those orthodoxies and developing innovative alternatives.

As usual all comments welcome - Stephen Coe , Director Balmoral Strategy Development Limited

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06/01/2009 by Stephen Coe.

Switch on the news and all we seem to hear are the negative things. News editors seem to revel in sensationalising and exaggerating negative news.

We have to be careful in such an environment that stories of a long deep depression do not become self fulfilling prophecies. There is no doubt that globally we are facing tough challenges , but we have faced tough challenges before and in the light of our new found global co operation there is no logical reason to belief that we cannot once again emerge stronger again.

At Balmoral Strategy Development Limited we believe that innovation is the key. Old thinking and tired business models need to be shaken off, together with last year’s products. Companies need to to look to their customers and develop products and services that will once again be must haves. Companies that do so will emerge stronger and become industry leaders.

As usual all comments welcome - Stephen Coe, Director Balmoral Strategy Development Limited

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