Methodology

The Herring Group is a virtual group.  I leverage your people or new people that you hire to create change.  You get the results you want while minimizing overhead.

This approach is better for you … and for me.

The reason is simple:  If the Herring Group were a large group, then I would be focused on operating the Herring Group – hiring people and selling hours.  That is not what I like to do.  My focus is helping you create change in your business through analysis and leadership.

For some clients, I perform the analysis and provide leadership.  Other clients prefer that I perform the analysis while employees provide leadership.  The point is that I provide the services uniquely suited to your situation.

Here are some examples of how I approach analysis, leadership and change.  For specific case studies, see client highlights.

Analysis

I analyze so that I can understand your business.  I don't provide "one size fits all" solutions.  Your business is unique and my solution will be tailored to your business.  To analyze, I:

• Interview key employees about the business and its goals
• Evaluate capabilities of key employees
• Review historical financial statements and operating data
• Prepare financial projections
• Discuss and evaluate company history, goals, markets and competition

Leadership

Leadership is essential to any company and especially companies in transition.  Good leaders set a vision, engage the employees, develop plans and facilitate the execution.  During this phase, I:

• Determine project goals and timing
• Develop a plan
• Determine key measurements
• Sell the plan to employees
• Implement the plan
• Meet regularly to monitor results, troubleshoot implementation problems, and guide employees
• Celebrate successes with employees

Change

For companies in transition, change increases the value of the company.  Often, change will include:

• Increasing profit
• Achieving goals
• Increasing cash flow
• Improving operational processes
• Adjusting the business model
• Reducing financial and operational risks
• Performing consistently
• Securing more capital
• Enjoying business again

 

 

The "Stockdale Paradox"

In his book, Good to Great, Jim Collins formulates the Stockdale Paradox - named for a Navy Admiral who was tortured while serving as a POW in Vietnam for eight years.  Here's the paradox:

"Retain faith that you will prevail in the end, regardless of the difficulties.

AND at the same time

Confront the most brutal facts of your current reality, whatever they may be."

As I provide services to clients, I give clients reasons for optimism as well as brutal facts.