The Dynamic Recovery Framework is a flexible and highly effective package of tools focused on supporting regional SMEs to deal with the current challenging times.
The aim of the framework is to help SMEs to develop a series of short and medium term recovery strategies designed to retain existing customers, maximise their current lockdown time in order to be ready for the recovery phase and support staff through this extended period of working from home.
4-Stage Dynamic Recovery Framework
The Dynamic Recovery Framework helps SMEs determine adjustments needed, pinpoint specific priorities and activities, provide a clear understanding of the steps to achieve change and the tools to carry out the required activities.
Watch the video introduction:
ChamberLIVE – 29th April 2020 – Supporting recovery through practical tools and support. In collaboration with East Lancashire Chamber of Commerce
Download the slide deck of the Dynamic Recovery Framework
To help you get to grips with your recovery planning, please make use of the Productivity Toolkit. This is made up of the Dynamic Recovery Framework template and 3 innovation activities which can help you think critically about the priorities that should go into your recovery.
Dynamic Recovery Framework
The Dynamic Recovery Framework is designed to stimulate more pro-active internal engagement and communication with staff, customers and suppliers through a four-stage process:
(1) React: determine the critical business challenges and required corrective actions
(2) Plan: establish a fit for purpose strategy that redefines costs and core services
(3) Stabilise: understand your customers new requirements and implement a short to medium term plan to maintain value
(4) Refocus: understand your customers new requirements/needs and revise business models
4-Stage Dynamic Recovery Framework, detailed view
Dynamic Recovery Framework
The Dynamic Recovery Framework is your planning tool. Populate your own Framework with status updates, key decisions, and actions which will aid the recovery of your business.
Download the Dynamic Recovery Framework template
Customer Journey Planning
Having a lack of clarity and repeatability in key business processes and practices is a major inhibitor of profitable recovery. Retaining the (perhaps fragile) spending confidence of existing customers, and providing a high quality experience to newly secured customers, to protect income streams is more important than ever.
Improving your business processes and practices connected directly to your customer journey is one way to take control of current uncertainty and ensure key relationships are maintained and maximised. It will also provide you with an enhanced ability to scale-up again out of any current market/trading restrictions.
Common to many of the 98 SMEs who have benefited from working with the Productivity & Innovation Centre over the past 18 months has been the challenge in creating a clear and repeatable customer journey. An over-reliance on single individuals (creating bottle-necks), too many run-of-the-mill problems escalated to senior management for resolution (wasted time and focus), and too much variance in project timelines and profitability, are all common challenges which can be alleviated by having an efficient and clearer customer journey.
Don’t forget to summarise your key findings and learning from this activity onto your Dynamic Recovery Framework template – Practices and People sections.
Market Offer Positioning
The most competitive businesses in their market place are those who are crystal clear about what their offer is and what impact they can deliver. The Productivity & Innovation Centre engages with countless businesses who are excellent service providers, but far fewer who can really communicate their offer in a succinct and highly compelling way. By blinding customers with ‘science’, overly explained processes, over-emphasising ‘tailored’ or ‘bespoke’ services and not showing objective, measurable benefits, SMEs can really hamper the productivity of their marketing and sales efforts. It can significantly harm their ability to effectively grow market share and revenue.
Customers need clarity. They need and want to know what impact, results, and return on investment their expenditure will secure. And these benefits need to be quantified and measurable; not subjective generic statements.
Customers also want to know who you are the ‘go-to’ people for. Are you the experts in their industry / sector, or for their profile? What are your main areas of expertise and what issues do you help them to solve. Behind the scenes, your business processes may not change much between customer to customer, but they want to work with you are the experts for their specific challenges. Clear entry points which articulate a scenario they will recognise, measurable benefits you can deliver, and case study examples can really drive up productivity in your sales and marketing.
Use the Market Positioning activity to really demonstrate the depth of your value proposition. The content you generate here should permeate all your web, marketing and social media content.
Don’t forget to summarise your key finding and learning from this activity onto your Dynamic Recovery Framework template – Product/Service section.
Financial and Customer Acquisition Modelling
The most productive and competitive businesses are those who have clear short, medium and long term targets and financial objectives for the business. And they review these on a regular basis. Setting targets for income and margin/profit on a quarterly and annual basis can really help to focus the performance of you and your teams. Even in uncertain times, those with clear targets have a greater chance of rapid recovery.
This activity should be seen dynamic, with targets and objectives amended based on experience of market conditions and customer behaviours.
Income also equates directly to numbers of customers and projects you can deliver. To your financial targets come with serious practical considerations: how may customers would you need to generate that income?; how many quotes/tenders would you need to bid for?; have you got the current capacity to deliver to all those customers:, and; is the market available and reachable?
The Productivity & Innovation Centre uses a Financial and Customer Acquisition Model (simplified here for individual use) to help SMEs set business and team targets, work out their new business generation efficiencies, plan the portfolio of customers they wish to target and establish.
A crucial message the Productivity & Innovation Centre uses is ‘numbers first’. Setting financial targets, for either a new product/service, or for the whole business makes innovation practical and ‘real’.
Tip: The SMEs we work with also use these financial and customer acquisition targets to plan for workforce development – what and when will new roles be needed? which of your existing staff need to be up-skilled? when will you need to think about improving your team structures and embed new management capabilities?
Don’t forget to summarise your key finding and learning from this activity onto your Dynamic Recovery Framework template – Performance section.
Additional help and support
Our highly experienced team in the Productivity & Innovation Centre are here to help and provide critical feedback on your Dynamic Recovery Framework. From our working with 98 regional SMEs since 2018, we can offer additional support and guidance on your specific challenges and how you can plan and put in place your recovery plan.
Please use the contact form below to get in touch.
Crisis Recovery Sessions
We are working in partnership with Lancashire Business View (LBV) to help you navigate through and beyond Covid-19. Find out more about our Dynamic Recovery Framework delivered through two free webinars. Each session will share practical insights, case studies and productivity tools with take away tasks that will support you as you react, plan, stabilise and refocus towards recovery. Join us to find out more (See dates below.)
The crisis recovery sessions will give you the opportunity to discuss your challenges and develop solutions in an exclusive, supportive and focused environment. Facilitated by Prof. Simon Bolton, you can take part in a small group virtual session to unpack and critique your recovery plans in more detail, share learning and experiences between similar SME owners.
The Crisis Recovery Sessions are limited to 5 attendees. (Dates TBC) If you are interested to participate please contact us via the form below.