Run it Like a Business! Lisa C. Welsher

1. Run it Like a Business! Lisa C. Welsher

2. Run it Like a Business Overview The following presentation is an excerpt from a 1-day IMS Workshop called: “Run it Like a Business- 5 Key Principles Every SupportProfessional Should Know!” Public workshop schedule is posted on www.visitims.com

3. Run it Like a Business- What? A quick look at the What, Why, and How of running it like a business… • What does it mean to run it like a business? • Why should you run it like a business? • How can you run it like a business?

4. Run it Like a Business- What? What does it mean to run it like a business? The Run it Like a Business session is designed to influence your perspective and thinking. It is not a methodology or a defined process. X

5. Run it Like a Business- Why? Why should you run it like a business? When you manage your support center with a “run it like a business” approach, the benefits include: • Improve Decision Making • Prioritize Effectively • Become Smarter • Improve Performance • Gain Senior Management Respect

6. Run it Like a Business- How? How can you run it like a business? Managers and Directors can learn how to “run it like a business” by focusing on 5 key areas of business: • Target Market • Products & Services • Marketing • Operations • Financials

7. Run it Like a Business- How? The 5 key areas of business are highly dependent on one another and build on each other... Financials Operations Marketing Products & Services Target Market

8. Run it Like a Business- How? When you run it like a business, it isn’t enough to know your target market, you need to understand your target market as well! Financials Operations Marketing Products & Services Target Market

9. Run it Like a Business- How? When you run it like a business, you recognize Products & Services must meet customer needs, will evolve, and need to be competitive. • Self Support • Knowledge Management • Chat • Etc... Financials Operations Marketing Products & Services Target Market

10. Run it Like a Business- How? When you run it like a business, the management team must be able to articulate two essential aspects of marketing: • Value proposition • Position Statement Financials Operations Marketing Products & Services Target Market

11. Core Business Processes Run it Like a Business- How? When you run it like a business, operations are where profit margins come into play…therefore, it is essential that you define and “perfect” your core business processes! Financials Operations Marketing Products & Services Target Market

12. 90 80 70 60 50 40 30 20 10 0 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Run it Like a Business- How? When you run it like a business, business “financials” are understood to be very different from “performance measurements.” Financials Operations Marketing Products & Services Target Market

13. Thank you!