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1
The Spire Story
How a boutique consultancy grew
an international network
Prepared for:
Singapore Management University Business
School
Prepared by:
Spire Research and Consulting
Date:
21 September 2016
2
Spire Research and Consulting
The leading research-based consultancy in emerging markets
We were founded in the year 2000.
We have 100 employees in ten full-service offices.
We serve Global Fortune 1000 firms, governments and other
leading organizations.
Our opinions frequently appear in print, television and radio
media.
We provide a broad spectrum of research and consulting
solutions for market growth and entry.
3
Why Spire?
Our competitive advantages
Solutions that
include relevant
facts and practical
advice on how to
get best market
results from least
effort.
An in-depth and
broad view of
the market eco-
system and how
decision makers
and influencers
behave within it.
4
Research and Consulting Solutions
COMPETITOR
ANALYSIS
BUSINESS
PARTNER
SELECTION
CORPORATE
SOCIAL
RESPONSIBILI
TY
CONSULTING
CHANNEL
HEALTH
MANAGEMEN
T
SUPPLY
CHAIN
MANAGEMEN
T
CONSULTINGKNOWLEDGE
PROCESS
OUTSOURCIN
G
GEO-
MARKETING
DECISION
ANALYTICS
MARKET
SIZING AND
FEASIBILITY
PRICE
RESEARCH
MARKET
ENVIRONMEN
T RESEARCH
THOUGHT
LEADERSHIP
CONSULTING
CUSTOMER
DECISION
DYNAMICS
ANALYSIS
COUNTRY
RESEARCH
CONSUMER
RESEARCH
CUSTOMER
VALUE
CO-CREATION
CONSULTING
VALUE CHAIN
ANALYSIS
ANTI-
COUNTERFEIT
CONSULTING
HOLISTIC MARKET
ENVIRONMENT
RESEARCH
ETHNOGRAPHY
CROSS-
BORDER
CONSULTING
GO-TO-
MARKET
PLAYBOOKS
11
Mining
relevant Spire
industry and
country
experience
The Spire Process
Proposal
Development
Project kick-off
meeting with
client
Secondary
data collection
Discussion
Guide
Design
Pilot interviews
and fieldwork
In-depth industry interviews
(channels, vendors,
business, customers)
Qualitative Research
(FGDs, web FGDs,
ethnographic, IDIs)
Trade show/ Event
participation
Quantitative Research
Surveys
(intercept, CLT, phone,
online, etc.)
Retail Audit
Mystery shopping
Data
Processing
Data Analysis
Quality
Control
Internal review and
brainstorming
Report
writing
Executive
summary
development
Client
workshop(s)
Follow up
on client
workshop(s)
Project
closure
Interviews with
clients as needed
Social media
research
Internal
brainstorming
Secondary
research
Expert interviews
12
Publications
Spire’s research has been published by international governmental
agencies and industry associations
Japan External Trade Organization (JETRO)
15 August 2012
Spire defined the market opportunities for Japanese companies in the solar and
wind energy equipment manufacturing industry. The study was carried out in major
Asian countries, including China, India, Malaysia and South Korea.
Australian Trade Commission (Austrade)
December 2010
A market research project on opportunities and trends in the Korean Automotive
Market 2010. Spire Korea’s report quantified and analyzed the most important market
opportunities existing in the Korean automotive industry.
United Nations Energy Promotion – International Copper Association
November 2010
A Market report to evaluate the environmental and business impact of harmonizing
energy standards across ASEAN.
13
Spire’s esteemed clients
Private sector
14
Spire’s esteemed clients
Government and NGO sector
Ministry of
Transportation
(Jakarta)
Japanese
Ministry of Int’l
Trade
and Industry
15
Testimonials
“It has been a pleasing experience working with Spire Research and
Consulting. Their market study was informative and insightful, which in turn
provided guidance for us to develop strategy for our business. We are looking
forward to cooperating with Spire again in the future.”
Henry Tan
Marketing Manager
FedEx, China
“Throughout the market research project, Spire has demonstrated the ability to think
strategically while keeping in mind the industry day-to-day business operations. The
team is also mindful of client’s unique business environment and at times expanded
their research scope in order to address the additional requirements.”
Alvin Lee
Business Development Manager
Singtel M2M, Singapore
16
Spire in the news
A thought leader in the region
Spire regularly appears in print, TV and radio media to address economic and business subjects in
Asia. Spire executives are also frequent speakers at regional conferences and seminars.
17
Begin with the end in mind
Spire’s start
We formulated a clear and specific mission statement, set of values, Code of Honour and
client charter
Our starting point: a market gap
Customized projects that hybridize traditional market research and strategy consulting
We aimed to unpack research-based consulting from general strategy consulting
Few vendors were focusing on such customized projects on a regional basis
We decided to focus on MNCs as clients; but to be agnostic about methodologies and
industries
We decided from the beginning that the brand was key
Corporate Communications function overseen by the CEO; we invested heavily in brand
building – now a team of 3 staff supported by partners
Invested in Trade Mark protection globally
18
Embrace evolution
“Experience is not what happens to you but what you do with what happens to you.”
(Aldous Huxley)
Make time for strategy formation, build it into the process
Spire’s “heartbeat” includes weekly sales and marketing meetings, monthly leader’s meetings
and annual leaders’ retreats which are platforms for strategy review
Two major strategic reviews were undertaken: 2005 and 2010
Key: try to spot opportunities before they become generally known (e-payments, Myanmar, Iran,
channel and sales force management, social media research)
Don’t try to do everything (eg for Spire, data analytics and CRM)…
…be mindful of core competences and move into adjacent spaces, not unrelated ones
19
Execution is the twin of strategy
Sharpen the saw on execution too
Share highlights and lowlights at meetings
Turn cultivation of clients and networks into a teachable activity with best practices
Take brand building seriously
Website and SEO
Social media
Collaterals like name cards and souvenirs
Spire events and collaboration with external event organizers
PR and media cultivation
“Happy families are all alike but unhappy families are each unhappy in their own way.”
(Leo Tolstoy)
20
Launch new solutions but keep them practical
How to develop Intellectual Property?
Avoid old wine in new bottles – be honest about what a solution is and is not
Learn from events, clients, peers, employees, the internet…but don’t ignore books
Not every new solution need be completely new, many can be refinements and
improvements on old solutions
Many new solutions that Spire now offers grew out of old ones, transformed through self-
reflection, client feedback and research
Go To Market consulting
Ethnographic research
Channel health measurement
Supplier research
21
Grow an international network organically,
be skeptical about shortcuts
Managing offices overseas
Build a regular schedule of review meetings – weekly or monthly
There is no substitute to being present – schedule regular trips
Invest in local business development but gradually, and expect results in a gradual curve
Hiring staff to man overseas offices
Try different approaches – open recruitment, recruitment agencies, networks, posting
staff from one office to another
Deploy more experienced staff to mentor staff in a new office, to expose them to different
leadership and mentorship styles
Embrace diversity and see it as a source of strength and vice versa
If everyone agrees all the time it means that either some are not thinking, some are
not caring or both
22
Never over-reach
Be skeptical about quick fixes and gold rushes
If there is a stampede towards some new market or business space, it is probably already
Red Ocean
Be wary of “big market bias”
One swallow does not make a summer – investigate why you succeeded and not just why
you failed
Never over-extend your limited management resources, eg by setting up too many new
offices too quickly
Always be conscious of cash flow
23
Tel: (65) 6838 5355
Fax: (65) 6838 5855
78 Shenton Way #20-01
Singapore 079120
sg.info@spireresearch.com
www.spireresearch.com

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160922_The Spire Story_How a boutique consultancy grew an international network

  • 1. 1 The Spire Story How a boutique consultancy grew an international network Prepared for: Singapore Management University Business School Prepared by: Spire Research and Consulting Date: 21 September 2016
  • 2. 2 Spire Research and Consulting The leading research-based consultancy in emerging markets We were founded in the year 2000. We have 100 employees in ten full-service offices. We serve Global Fortune 1000 firms, governments and other leading organizations. Our opinions frequently appear in print, television and radio media. We provide a broad spectrum of research and consulting solutions for market growth and entry.
  • 3. 3 Why Spire? Our competitive advantages Solutions that include relevant facts and practical advice on how to get best market results from least effort. An in-depth and broad view of the market eco- system and how decision makers and influencers behave within it.
  • 4. 4 Research and Consulting Solutions COMPETITOR ANALYSIS BUSINESS PARTNER SELECTION CORPORATE SOCIAL RESPONSIBILI TY CONSULTING CHANNEL HEALTH MANAGEMEN T SUPPLY CHAIN MANAGEMEN T CONSULTINGKNOWLEDGE PROCESS OUTSOURCIN G GEO- MARKETING DECISION ANALYTICS MARKET SIZING AND FEASIBILITY PRICE RESEARCH MARKET ENVIRONMEN T RESEARCH THOUGHT LEADERSHIP CONSULTING CUSTOMER DECISION DYNAMICS ANALYSIS COUNTRY RESEARCH CONSUMER RESEARCH CUSTOMER VALUE CO-CREATION CONSULTING VALUE CHAIN ANALYSIS ANTI- COUNTERFEIT CONSULTING HOLISTIC MARKET ENVIRONMENT RESEARCH ETHNOGRAPHY CROSS- BORDER CONSULTING GO-TO- MARKET PLAYBOOKS
  • 5. 11 Mining relevant Spire industry and country experience The Spire Process Proposal Development Project kick-off meeting with client Secondary data collection Discussion Guide Design Pilot interviews and fieldwork In-depth industry interviews (channels, vendors, business, customers) Qualitative Research (FGDs, web FGDs, ethnographic, IDIs) Trade show/ Event participation Quantitative Research Surveys (intercept, CLT, phone, online, etc.) Retail Audit Mystery shopping Data Processing Data Analysis Quality Control Internal review and brainstorming Report writing Executive summary development Client workshop(s) Follow up on client workshop(s) Project closure Interviews with clients as needed Social media research Internal brainstorming Secondary research Expert interviews
  • 6. 12 Publications Spire’s research has been published by international governmental agencies and industry associations Japan External Trade Organization (JETRO) 15 August 2012 Spire defined the market opportunities for Japanese companies in the solar and wind energy equipment manufacturing industry. The study was carried out in major Asian countries, including China, India, Malaysia and South Korea. Australian Trade Commission (Austrade) December 2010 A market research project on opportunities and trends in the Korean Automotive Market 2010. Spire Korea’s report quantified and analyzed the most important market opportunities existing in the Korean automotive industry. United Nations Energy Promotion – International Copper Association November 2010 A Market report to evaluate the environmental and business impact of harmonizing energy standards across ASEAN.
  • 8. 14 Spire’s esteemed clients Government and NGO sector Ministry of Transportation (Jakarta) Japanese Ministry of Int’l Trade and Industry
  • 9. 15 Testimonials “It has been a pleasing experience working with Spire Research and Consulting. Their market study was informative and insightful, which in turn provided guidance for us to develop strategy for our business. We are looking forward to cooperating with Spire again in the future.” Henry Tan Marketing Manager FedEx, China “Throughout the market research project, Spire has demonstrated the ability to think strategically while keeping in mind the industry day-to-day business operations. The team is also mindful of client’s unique business environment and at times expanded their research scope in order to address the additional requirements.” Alvin Lee Business Development Manager Singtel M2M, Singapore
  • 10. 16 Spire in the news A thought leader in the region Spire regularly appears in print, TV and radio media to address economic and business subjects in Asia. Spire executives are also frequent speakers at regional conferences and seminars.
  • 11. 17 Begin with the end in mind Spire’s start We formulated a clear and specific mission statement, set of values, Code of Honour and client charter Our starting point: a market gap Customized projects that hybridize traditional market research and strategy consulting We aimed to unpack research-based consulting from general strategy consulting Few vendors were focusing on such customized projects on a regional basis We decided to focus on MNCs as clients; but to be agnostic about methodologies and industries We decided from the beginning that the brand was key Corporate Communications function overseen by the CEO; we invested heavily in brand building – now a team of 3 staff supported by partners Invested in Trade Mark protection globally
  • 12. 18 Embrace evolution “Experience is not what happens to you but what you do with what happens to you.” (Aldous Huxley) Make time for strategy formation, build it into the process Spire’s “heartbeat” includes weekly sales and marketing meetings, monthly leader’s meetings and annual leaders’ retreats which are platforms for strategy review Two major strategic reviews were undertaken: 2005 and 2010 Key: try to spot opportunities before they become generally known (e-payments, Myanmar, Iran, channel and sales force management, social media research) Don’t try to do everything (eg for Spire, data analytics and CRM)… …be mindful of core competences and move into adjacent spaces, not unrelated ones
  • 13. 19 Execution is the twin of strategy Sharpen the saw on execution too Share highlights and lowlights at meetings Turn cultivation of clients and networks into a teachable activity with best practices Take brand building seriously Website and SEO Social media Collaterals like name cards and souvenirs Spire events and collaboration with external event organizers PR and media cultivation “Happy families are all alike but unhappy families are each unhappy in their own way.” (Leo Tolstoy)
  • 14. 20 Launch new solutions but keep them practical How to develop Intellectual Property? Avoid old wine in new bottles – be honest about what a solution is and is not Learn from events, clients, peers, employees, the internet…but don’t ignore books Not every new solution need be completely new, many can be refinements and improvements on old solutions Many new solutions that Spire now offers grew out of old ones, transformed through self- reflection, client feedback and research Go To Market consulting Ethnographic research Channel health measurement Supplier research
  • 15. 21 Grow an international network organically, be skeptical about shortcuts Managing offices overseas Build a regular schedule of review meetings – weekly or monthly There is no substitute to being present – schedule regular trips Invest in local business development but gradually, and expect results in a gradual curve Hiring staff to man overseas offices Try different approaches – open recruitment, recruitment agencies, networks, posting staff from one office to another Deploy more experienced staff to mentor staff in a new office, to expose them to different leadership and mentorship styles Embrace diversity and see it as a source of strength and vice versa If everyone agrees all the time it means that either some are not thinking, some are not caring or both
  • 16. 22 Never over-reach Be skeptical about quick fixes and gold rushes If there is a stampede towards some new market or business space, it is probably already Red Ocean Be wary of “big market bias” One swallow does not make a summer – investigate why you succeeded and not just why you failed Never over-extend your limited management resources, eg by setting up too many new offices too quickly Always be conscious of cash flow
  • 17. 23 Tel: (65) 6838 5355 Fax: (65) 6838 5855 78 Shenton Way #20-01 Singapore 079120 sg.info@spireresearch.com www.spireresearch.com