#SMARTERB2B Selling Strategies in a Zero-Based-Budgeting Reality
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The document discusses strategies for B2B selling in a zero-based budgeting reality. It begins by dispelling five myths about zero-based budgeting, including that it means starting budgets at zero each year, that it focuses only on reducing costs to the bone, that it will overwhelm businesses, that it only focuses on SG&A costs, and that it does not work for growth-stage companies. It then provides resources for further information on zero-based budgeting.
#SMARTERB2B Selling Strategies in a Zero-Based-Budgeting Reality
- 1. B2B Selling Strategies in a Zero-Based-Budgeting Reality Weekly Executive Briefing 3 0 t h A p r i l 2 0 2 0 w i t h C h r i s J S n o o k Brought to you by: Presented by:
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- 3. THE LOGISTICS Chat with me and your peers in the group chat box Submit Q&A & Participate in the live polls Contact Cameron Davis for questions about the platform cameron@emerged.com . @CHRISJSNOOK Author of Digital Sense Chris J Snook is the bestselling author of Digital Sense (Wiley 2017) and Wealth Matters 3.0. He advises early stage growth companies, private equity managers, and middle-market to Fortune 500 executives on growth strategy and turnarounds. He speaks and writes on a variety of topics including customer experience, tokenomics, AI, IoT, blockchain, digital transformation, and macro-economic trends and potential futures. You can connect on Linkedin or Twitter @chrisjsnook
- 4. THE PROBLEM ZERO-BASED BUDGETING: EVERY EXPENSE MUST BE JUSTIFIED AND APPROVED FOR EACH NEW PERIOD
- 5. Do you think your customers will churn at higher rates, the same, or less post- pandemic? POLL QUESTION
- 6. NEED DATA I t o l d y o u t h i s w a s s e r i o u s . T R A P P E D ! S c h e d u l e a f a m i l y z o o m u n p r e p a r e d A n x i o u s b o r e d W i l l t h e s t o r e s g e t m o r e t o i l e t p a p e r ? I a m g o i n g t o t h e s t o r e . W e n e e d t o g e t i n t o a h e a l t h i e r r o u t i n e . S i g n u p f o r P e l o t o n O p e n a b o t t l e o f w i n e A t t e n d a v i r t u a l A A m e e t i n g LAW OF COMPENSATION ABILITY REPLACE- ABILITY DISPELLING THE 5 MYTHS OF ZBB 1) ZBB DOES NOT MEAN STARTING AT ZERO; IT MEANS CUSTOMERS ARE STRUCTURING A CULTURE OF COST MANAGEMENT, TRANSPARENCY, ALIGNMENT OF INCENTIVES, AND ACCOUNTABILITY.
- 7. NEED DATA I t o l d y o u t h i s w a s s e r i o u s . T R A P P E D ! S c h e d u l e a f a m i l y z o o m u n p r e p a r e d A n x i o u s b o r e d W i l l t h e s t o r e s g e t m o r e t o i l e t p a p e r ? I a m g o i n g t o t h e s t o r e . W e n e e d t o g e t i n t o a h e a l t h i e r r o u t i n e . S i g n u p f o r P e l o t o n O p e n a b o t t l e o f w i n e A t t e n d a v i r t u a l A A m e e t i n g LAW OF COMPENSATION ABILITY REPLACE- ABILITY DISPELLING THE 5 MYTHS OF ZBB 2) ZBB DOES NOT MEAN CUTTING COSTS TO THE BONE; IT MEANS THE DEGREE OF COST CUTTING IS BASED UPON THE COMPANYS NEW (POST-PANDEMIC) TOP-DOWN TARGET-FREEZES WILL HAPPEN FIRST UNTIL THERE IS MORE CERTAINTY TO THE LANDSCAPE
- 8. NEED DATA I t o l d y o u t h i s w a s s e r i o u s . T R A P P E D ! S c h e d u l e a f a m i l y z o o m u n p r e p a r e d A n x i o u s b o r e d W i l l t h e s t o r e s g e t m o r e t o i l e t p a p e r ? I a m g o i n g t o t h e s t o r e . W e n e e d t o g e t i n t o a h e a l t h i e r r o u t i n e . S i g n u p f o r P e l o t o n O p e n a b o t t l e o f w i n e A t t e n d a v i r t u a l A A m e e t i n g LAW OF COMPENSATION ABILITY REPLACE- ABILITY DISPELLING THE 5 MYTHS OF ZBB 3) ZBB WILL OVERWHELM YOUR CUSTOMERS BUSINESS AND STOP ALL ACTIVITY; ZBB transformation of the culture in companies is usually led by a tiger team of cross-functional leaders that are centralized and can be completed in 4-10 months. This is likely what the majority of Quarantine time has been focused on in your customers c-suite. It also is typically rolled out in pilots across the enterprise before tweaks are made to wholesale operationalizing of the ZBB culture.
- 9. NEED DATA I t o l d y o u t h i s w a s s e r i o u s . T R A P P E D ! S c h e d u l e a f a m i l y z o o m u n p r e p a r e d A n x i o u s b o r e d W i l l t h e s t o r e s g e t m o r e t o i l e t p a p e r ? I a m g o i n g t o t h e s t o r e . W e n e e d t o g e t i n t o a h e a l t h i e r r o u t i n e . S i g n u p f o r P e l o t o n O p e n a b o t t l e o f w i n e A t t e n d a v i r t u a l A A m e e t i n g LAW OF COMPENSATION ABILITY REPLACE- ABILITY DISPELLING THE 5 MYTHS OF ZBB 4) ZBB ONLY FOCUSES ON SG&A COSTS; The fundamental elements of ZBB (governance, accountability, transparency, aligned incentives, and rigorous analysis) are applied across CapEX, OpEx, SG&A, Marketing, Variable costs, and COGS. Be proactive and find ways to add value or get your customer to use dormant feature sets that create OpEx efficiencies by keeping you or you will be vulnerable.
- 10. NEED DATA I t o l d y o u t h i s w a s s e r i o u s . T R A P P E D ! S c h e d u l e a f a m i l y z o o m u n p r e p a r e d A n x i o u s b o r e d W i l l t h e s t o r e s g e t m o r e t o i l e t p a p e r ? I a m g o i n g t o t h e s t o r e . W e n e e d t o g e t i n t o a h e a l t h i e r r o u t i n e . S i g n u p f o r P e l o t o n O p e n a b o t t l e o f w i n e A t t e n d a v i r t u a l A A m e e t i n g LAW OF COMPENSATION ABILITY REPLACE- ABILITY DISPELLING THE 5 MYTHS OF ZBB 5) ZBB DOESNT WORK WELL FOR GROWTH-STAGE COMPANIES Quite the contrary. Even if the focus stage of your customers company is growth, talent acquisition/retention, and they are awash with cash and prepared to capitalize from this pandemic, cost management is a core dna strand for sustainable success. ZBB works and will likely be implemented by all companies regardless of stage
- 11. RESOURCES: R E S O U R C E S F R O M TO D AY S D E C K : McKinsey ~ h t t p s : / / w w w. m c k i n s e y. c o m / b u s i n e s s - f u n c t i o n s / s t r a t e g y - a n d - corporate-finance/our-i nsight s/f ive- myt hs-and-realities-about- zero-based-budgeting C O V I D - 1 9 D A S H B O A R D : N c o v 2 0 1 9 . l i v e / d a t a SPONSOR: w w w. e m e r g e d . c o m H O S T: w w w. c h r i s j s n o o k . c o m PRESENTED BY: www.sm art erB 2B. com