LOMP Guide

LOMP Class Outline

Revision B

 

Session 1: Orientation

·       Introduce the course participants

·       Introduction of Dick and Phil

·       Objective of the course-Teach management principles, philosophy, working techniques, to help    executives and managers build a foundation to grow their company profitably

·       Schedule and course outline

·       Review of the participant’s individual requests for what they would like to get out of the class. This will be a summary of a survey sent to the participants prior to the 1^st session

·       Review the biggest problems in the participants present environment

·      Review the techniques being used to solve the problems

·       Review the terminology used by the industry in running a company-Key word quiz from the chapter on “Word Games”

·       Mindset Definition: Proper combination  of Perception, Perspective, and Priority

·       Taste of what is to Come

 

·      Session 2: Basics for a successful company

·       Vision

·       Vision

·       Mission

·       Mission

·       Culture

·       Ethics

·       Goal setting

·       Strategy to achieve the Goal

·       Tactics to carry out the Strategy

·       The plan

·       The Market need served

·       The Product or Service manufactured/supplied to Serve the Market

·       The Operation-Manufacturing or Process used to create the product or Service

·       The Resources used for the Operation-Building an organization, Advisors, Consultants, Suppliers, Directors (advisory or direct), partnerships

·       The Finances

 

 

Session 3: Finance

·       The P&L

·       The Balance Sheet

·       The Cash Flow Management Definition

·       Cash Flow Statement

·       Accounting rules-The Accrual methodology versus the Cash methodology

·       The P&L breakeven

·       The cash breakeven

·       Contribution Margins and their usage

·       Sources and Usage of Funds

·       Working Capital

·       Key Ratios-PAT, ROI, ROA, ROE, etc.)

·       Financial Controls

·       Approvals and Authorities Manual

 

 

Session 4: The Planning Process

·       The myths of Planning

·       The correct Mindset

·       The importance of Planning

·       Milestones and Timelines

·       From the long term Strategic Planning to the annual plan  to the daily activity

·       The Strategic Plan

·       The Business Plan

·       The Quarterly Plan

·       Monthly plan

·       Weekly plan

·       Daily Plan

·       Growth Planning-Focusing versus the shot gun approach

·       Upward integration, versus lateral integration, versus downward integration

·       Priority setting

·       Risk taking

·       The Forecast Planning: Extrapolation of “what is” versus “Creating a future”  (reactive versus proactive)

·       The “what ifs”: Contingencies (Plan B)

·       Milestones, timelines, and costs

 

Session 5: Marketing

·       Marketing: Finding an unfulfilled customer/prospective customer need

·       Marketing: Research approach

·       Marketing: Intuitive approach

·       Creating a product or process

·       Innovation

·       Differentiation and IP protection (patents, trademarks, trade secrets)

·       The difference between sales and Marketing

·       Competition and Differentiation 

·       Pricing techniques

·       Product Mix

·       Buy ins versus money makers: Investing versus Cash Cow

·       Importance of the Customer and customer service: World Class performance versus focused differentiated support

·       Key tracking/reporting (Book/Bill, Market Share, etc)

·       Changing Markets – Difficulty

·       Market Types – Difficulty

·       Market Sizing 

·       Selling the Positive

·       Sales as a Sub Set of Marketing  

 

 

 

Session 6: Operations

·       Running the Company

·       Manpower planning

·       Cash Planning

·       Facility Planning

·       Supplier Planning

·       Make or Buy decision

·       Organization: How the functions of the company are arranged

·       Quality Control

·       Compliance and regulations

·       Key tracking/reporting: Six Sigma, Days inventory, Days Receivables, Cash Conversion Cycle, Revenue, Profit, Cash, etc.)

·       Decision Making

·       Time Management

·        Delegation and Controls

 

 

 

Session 7: Human Assets

·       Changes Over Time

·       Manpower Planning

·       Hiring and Firing

·       Motivating the people

·       Team building and team playing

·       Who owns the task/project?

·       Time management

·       Delegating versus directing

·       Top down versus Bottoms Up

·       Communication

·       Growing the organization: Changing the generations: Mentoring versus replacing

·       Succession planning

·       Think Human Assets as Revenue

 

Session 8: Catch All

·       Changing direction of the company

·       Growth acceleration of the company

·       Busting Thru Barriers

·       Laws of Management Physics 100 Review

·       How to Value your company

·       Exit strategies/goals/plans

·       Communicating with your Boss, Board of Directors, Banks. Investors