The Characteristics of an Effective PitStop

The concept of the PitStop comes from racing but it has great relevance to the demands of a fast growing business.  Here we use the PitStop as an acronym to explain what the Strategy PitStop™ is about.

‘P’ is for Potential

The Strategy Pit-Stop™ is all about adressing the issue of performance and potential in a very powerful and positive way.

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The number one focus of the PitStop is the potential to accelerate growth of the organization as well as potential of its people and teams.  That (together with the use of the F1 formula and metaphor) ensures the debate around performance is free of personalities and politics.  The PitStop is particularly good at identifying and unlocking hidden growth potential.

 

‘I’ is for Impact

The ‘I’ in PitStop stands for impact – that is impact on sales and profits.

 

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Typically the issues addressed in the PitStop are aimed at generating additional sales of between 9% and 15%.  There is a particular focus on areas that can be impacted on immediately – that is this quarter and the next.

 

‘T’ is for Thinking

Impacting on the number requires doing more of some things and less of others.  But often that requires not just a change in behavior, but also a change in thinking.

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Many new sales and marketing initiatives require a change in attitudes or behaviors among the team.  This is why change proves difficult.
The PitStop helps people to see things differently. It changes the way they see strategy, sales and marketing and in particular the requirements for success.  It generates new insights and new ideas.

‘S’ is for Success

The ‘S’ in PitStop stands for success, as well as strategy.  That is a shared vision of success and the strategy that is required to achieve it.

 

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The ‘S’ also stands for science – the body of knowledge across 7 different disciplines that underpins the PitStop, as well as the statistics that that are involved in the PitStop’s sales assessments and best practice benchmarking.

 

‘T’ is for Teamwork

The second ‘T’ in PitStop stands for a new type of ‘teamwork.’

 

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The PitStop engages a new form of team dynamic.  It involves twelve or more people working together to achieve more in less time. It is a radical departure form the traditional meetings, away-days or workshops.  A key objective of the PitStop is to ensure greater cross-functional alignment and collaboration in respect of growth initiatives.

 

‘O’ is for Opportunities

The ‘O’ in ‘PITSTOP’ stands for opportunities to accelerate growth.  It is also for ‘one’ clear view of key sales priorities/accelerators across the team.
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Getting agreement on the key priorities for sales and marketing can be a challenge.  This is made relatively easy and fast-tracked by the PitStop.

‘O’ also represents open and honest debate around the opportunities and obstacles to sales growth.  This is key to creating ownership and engagement around the priorities chosen.

 

‘P’ is for Process

The final ‘P’ in ‘PITSTOP’ is for Process.  That is because the Pit-Stop is not just an event, but a process.   The PitStop is part of a process of a virtuous ‘Think – Plan – Act – Review’ cycle, called the 13 week race.

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‘P’ also stands for ‘psychology’ that is the use of techniques such as systems thinking and cognitive reframing within the PitStop.  Empowerment – one of the key words used by 116 recent PitStop participants to describe the process.