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Bank of America
Procore
Here is the deal
Tony did a masterful job of assembling a time line of our progress.
I have put it into Prezi, it give you the idea of how it can be used, the execution fall short. Tony and I will work on refinements
I have continued the presentation and propose that we use this Prezi in an unconventional manner in that we add all of our information, thoughts and images into a central presentation. from there we can make copies, deletes irrelevant information and have a great resource for presenting our pitch
I have lised some contacts that Tim Peters has provided to me with the offer of making warm connections... i am going to be doing that in the second half of January. I would like everyone to list name contacts positions , contact information, relevance and how they are related eg Doug Geoffery and Roger Johnson so that we have a clear picture of the network that we are working
There is a box with Procore and Forefront follow up. Please add thoughts there as well
Potential Partners
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All,
It was a pleasure chatting yesterday. It is always exciting to learn that there are champions out there who clearly see the benefit of a fully collaborative relationship - Vested. I hope I was able to help you understand the pathways to introduce Vested thinking through analysis tools, assessments and training workshops. As I mentioned, TFG has supplemental "tools"/"training" to further introduce and/or prepare companies to move into this very mature relationship model.
I am also intrigued to learn that you may be interested in becoming a Vested COE through a possible takeover of TFG. I realize that we have a lot more to discuss. As we discussed, I am forwarding our standard NDA so that we can explore a possible solution more completely. You can mark it up as necessary because this is a standard NDA for client relationships, then just return it to me for signature. If you have established your interim "company name" that will be fine as well, but it is really an NDA with the three of you.
I will look forward to receiving a list of questions and our next telecom schedule. In the meantime, I am sending you a brief introduction to TFG.
Thanks,
Bonnie
http://www.procore.co.uk/
STRUCTURED, BRIGHT, INNOVATIVE AND INDEPENDENT.
WE ARE AN INDEPENDENT EUROPEAN CONSULTANCY WITH AN ENVIABLE TRACK RECORD IN PROVIDING PROJECT MANAGEMENT, STRATEGIC PROPERTY ADVICE, WORKPLACE AND FACILITIES MANAGEMENT EXPERTISE.
If you are thinking of……
- Maximising the efficiency or utilisation of your existing workplace;
- Introducing flexibility and mobility to your workforce;
- Fitting out or moving to a new office or refurbishing existing space;
- Reviewing your existing FM services strategy or outsourcing services;
- How to improve the performance of existing FM services and suppliers;
- Reviewing your property strategy;
… we can help you achieve your goals.
We are totally focused on the workplace and we apply our skills, expertise and attitude to help our clients develop their workplace solutions.
We interpret and develop best practice in the industry and apply it to all aspects of the workplace, in a way that is practical and deliverable and has a tangible benefit to our clients.
With clients that include Apple, Cisco Systems, BG Group, EDF, Reed Elsevier, Astellas, Monsoon Accessorize, BBC and Standard Chartered Bank we are able to provide best in class services and best advice to some of the UK’s most respected global companies.
Roger Johnson
TD Bank
Cyrano Response for Mark Tamburro phone call October 29th , 2014
Other notes.
-We will add to the collective document
- We will think about the second stage questions and come back to it when the first piece is polished
- Forbes will be coordinating a follow up call with Mark
- Tony will give Forbes availability dates
- Forbes will be making arrangements for meetings with Roger Johnson, Doug Geoffrey and others as he will advise. Meetings will be face to face in Toronto
Item
Comment
Notes
How do we leverage the ‘vested’ approach to make it a consistent and global offering that is a differentiator/USP for a/our consulting business?
The vested approach represents a departure from the status quo, as mechanisms are embedded to assure the quality of the deliverable can be continually monitored and evaluated. It’s not just about past successes, but is based on the quality of the end product.
This approach is not of itself unique, what is unique is the bundling of the concepts of working toward shared outcomes rather than transactions. Success will come through the promotion and execution of a prescribed set of steps in the negotiation of “ Vested Outsourcing” certified contracts
The “Vested Outsourcing “ approach is positioned to become the generic reference to “ results based organizational alignments” It has the potential to have the kind of recognition that has been developed by Six Sigma.
For this to happen there are a number of things that must happen coincidentally.
“Certification” of the consultants in the details of Vested Outsourcing
A relationship established with the owners of the IP ( Kate Vitasek etal)
this will include;
licence fees
contact referrals
account adjudication ( who gets what)
territorial bounds ( relationship, geography, category)
A relationship to be established with Procore and the the Canadian entity
PVS
How would this work in practice?
PVS
What does it cost in time and effort to achieve this?
The modules for Vested certification are available at http://www.vestedway.com/resources/. The steps revolve around; awareness, understanding, implementation and mastery.
The first three modules are available on line for a cost of $ 3,500.00 USD.
Modules 4 ( 3 day) and 5 ( 2 day) are available in “on-site” lectures twice a year and cost $ 3,300 and $ 2,000 USD respectively.
The capstone course is a certification in which participants document a contract that they have negotiated. The course costs $ 8,500 USD.
Total costs are $ 17,300 USD
PVS
What is the current status globally? You mentioned that their of COE’s in some countries already and would provide information
Kate has mentioned that she has COEs in;
USA ( number and details not known)
UK ( details not known)
Sweden ( details not known)
Poland ( individuals created a CoE after negotiation a significant contract in Poland)
Though the CoEs are named by country, it appears that the activities are based on expertise and relationship. There was an instance where Kaate needed to make a decision on who would service a particular client where two consultants were looking to engage. The decision went to the consultant who had the stronger relationship with the client.
PVS
Linked to the above, how do we avoid this becoming diluted. Perhaps first to market is the key..?
Relationships appear to be the key to; claiming a client and building awareness. Being recognized as the CoE is certainly a start. This will mean that a certain level of inquiries will be driven to the CoE from out side. Holding out the distinction of being “ Vested Outsourcing “ Certified creates a certain exclusivity and validity. In the instance that we are considering having linked CoEs, North America and UK ( and Asia in your case) is a definite advantage
PVS
We have been thinking in client terms but what offering is their also to service providers i.e. how do we get them to see the benefits
We need to be drawing from the case studies and examples that have been developed by the Vested Outsourcing team in the USA. This needs to be coupled with industry examples of firms in Canada and the UK who have made the change successfully. There is a good chance that the corporate “champions” of vested outsourcing could become advocate / spokespeople at industry events promotion the process and educating companies. Corporations will likely pay more attention to understanding the successes of their competition than they will listen to a selling pitch from a consultant.
The tipping point for Vested is here or will be here shortly. Using the momentum of the shift in acceptance will be important in the selling of the service.
Getting clients to see the benefits will be a combination of empirical models coupled with current examples from industry.
TG/FR/PVS
Forbes to set up meeting with RJ,DJ and selected Account Managers in US
I think of the LEED certification process as perhaps a similar commercial/roll out model or is this different?
Firstly, how do we leverage the ‘vested’ approach to make it a consistent and global offering that is a differentiator/USP for a/our consulting business?
It is important to first understand the dynamics of the existing landscape. Consider the conventional way in which a consulting engagement is initiated and sourced. During the RFP phase, a prospective client specifies a list of deliverables that need to be fulfilled – in essence a systematically categorized wish list. This is the preliminary basis upon which an agreement is struck, as the consultant (usually more a team that is chosen based on the global brand they represent) demonstrates their capability to fulfill each item on that list. Until a contract is signed, this is an engaged, two-way conversation, but once an agreement is formally reached, the underlying risk dynamics immediately shift squarely to the shoulders of the client. After the agreement is struck, as long as a consultant delivers that list of items, they have fulfilled their responsibility. It is a structure that can at times be adversarial as there are no mechanisms that evaluate for the accuracy or depth to which each of these items are satisfied. There is actually little recourse available to the client unless specifically mandated in the contract – a process that can be characterized by the inclusion of adversarial terms and conditions.
The cycle is allowed to repeat in perpetuity as the decision maker at the client will shield him/herself from any negative fallout resulting from a sub-par execution of the assignment, by pointing to the quality of the brand that was engaged at the outset. All is forgiven, and the process goes back to square one. It is a methodology that is fraught with inefficiency.
The vested approach represents a departure from the status quo, as mechanisms are embedded to assure the quality of the deliverable can be continually monitored and evaluated. It’s not just about brand and past successes, but is based on the quality of the end product. Remember, the key to this methodology is creating a win-win between client and service provider, by ensuring risk and the reward that follows is shared between both parties. One of the best ways for the consultant to manage the risk is to take a more hands on approach to the work. This requires gaining a solid understanding of the business, its structure, mandates, and the roles of people. Our approach is one where terms and conditions include a proviso assuring quality of the end deliverable, and quality is continually monitored against benchmarks. Understanding the cultural aspects of the organization as well as its key missions shape the way in which the assignment is tackled. Ultimately, this knowledge is layered on top of the assignment, which ultimately yields a higher quality output.
Vested training for the team will provide the backdrop against which repeatable standards can be developed and applied globally. This will be further enhanced through the experiences gained in the first few consulting engagements, as practices become standardized. If all is executed properly and we properly implement a brand strategy that leverages ‘Vested’, we will have an approach that clearly differentiates itself from competitors globally. It is for this reason that first out of the gate (i.e. the real estate organization that embraces Vested) will win. Thus, timing is critical.
We have been thinking in client terms but what offering is their also to service providers i.e. how do we get them to see the benefits
One of the noticeable deficiencies of service providers (in real estate) is the narrow scope through which they offer services. No matter the complexity of assignment, it always comes down to pinning success off of a few predictable and well-worn metrics. For example, a client may have a pending real estate situation involving co-terminus lease expiries in the next few years, which also coincides with a major acquisition. The complexity of the situation is one calling for the engagement of the third party service provider. When it comes to the real estate sector, those providers typically come under the cover of an internationally-recognized brand, but when offering services remain somewhat myopic in the solutions. More times than not, the solutions will be couched in predictable terms: cost per unit of space, location and perhaps the most current trend in interior design. The strategic dimension that plays into this (the aforementioned culture, the financial impact, and the ramifications of the acquisition) are not even considered. If there is a way to standardize ways in which these latter elements can be incorporated, it provides an instantaneous point of differentiation. Of course the challenge is not to give away the secret sauce, but to provide just enough benefit to make the proposition one that is too compelling to ignore.
One of the key value propositions going in is the fact that we are proposing a consulting practice that is based on the vested approach. Depending on our collective ability to grab vested and integrate it into a real estate-based practice, and be first movers in the space, we can become a global thought leader. Service providers could benefit by participating in training modules that are specifically designed for the services they pitch to their clients. So a point of differentiation would be to create a training program for service providers.
I think of the LEED certification process as perhaps a similar commercial/roll out model or is this different?
LEED was a standard that monetized the movement embracing environmental sustainability within buildings. Until this organization effectively went out and placed structure around this by creating standards (an increasing adherence to which would lead to higher degrees of certification), it was nothing more than a niche movement with a handful of followers such as Conde Naste, ING and the National Audubon Society. Once established, it set a framework primarily for how buildings would be constructed and operated.
You are quite right that it is similar, as it is a brand that has been developed and rolled out, but what we are proposing is a standard applied to people who work within real estate. In this sense, it is like Six Sigma, a standard that uses a number of techniques to enhance business strategy. Six Sigma is based on standards used in quality control, whereas Vested is an approach that deals with the equitable allocation of risk around involved parties. There is a fundamentally different stand-alone proposition, but one that resonates powerfully with real estate organizations especially in an era where greater collaboration exists between client organizations who outsource specialized assignments with unique skillsets.
TG
There is potential to set up a Procore US/Canadian office of some sort and add to Procore Europe and Asia and become a true global consultancy business. We have looked at this in some minor detail and spoken to a couple of individuals but it has been on the ‘back burner’ with everything else that is going on. However, we would like to progress this in some form on 2015. Some additional thoughts:-
To be Discussed
What form would this take e.g. wholly owned, partnership, MOU, JV, equity, license, size etc
To be Discussed
Linked to the above, how would you envisage the commercials working
To be Discussed
Where would it be based, Canada or US?
To be Discussed
WCyrano Response for Mark Tamburro phone call October 29th , 2014
Other notes.
-We will add to the collective document
- We will think about the second stage questions and come back to it when the first piece is polished
- Forbes will be coordinating a follow up call with Mark
- Tony will give Forbes availability dates
- Forbes will be making arrangements for meetings with Roger Johnson, Doug Geoffrey and others as he will advise. Meetings will be face to face in Toronto
Item
Comment
Notes
How do we leverage the ‘vested’ approach to make it a consistent and global offering that is a differentiator/USP for a/our consulting business?
The vested approach represents a departure from the status quo, as mechanisms are embedded to assure the quality of the deliverable can be continually monitored and evaluated. It’s not just about past successes, but is based on the quality of the end product.
This approach is not of itself unique, what is unique is the bundling of the concepts of working toward shared outcomes rather than transactions. Success will come through the promotion and execution of a prescribed set of steps in the negotiation of “ Vested Outsourcing” certified contracts
The “Vested Outsourcing “ approach is positioned to become the generic reference to “ results based organizational alignments” It has the potential to have the kind of recognition that has been developed by Six Sigma.
For this to happen there are a number of things that must happen coincidentally.
“Certification” of the consultants in the details of Vested Outsourcing
A relationship established with the owners of the IP ( Kate Vitasek etal)
this will include;
licence fees
contact referrals
account adjudication ( who gets what)
territorial bounds ( relationship, geography, category)
A relationship to be established with Procore and the the Canadian entity
PVS
How would this work in practice?
PVS
What does it cost in time and effort to achieve this?
The modules for Vested certification are available at http://www.vestedway.com/resources/. The steps revolve around; awareness, understanding, implementation and mastery.
The first three modules are available on line for a cost of $ 3,500.00 USD.
Modules 4 ( 3 day) and 5 ( 2 day) are available in “on-site” lectures twice a year and cost $ 3,300 and $ 2,000 USD respectively.
The capstone course is a certification in which participants document a contract that they have negotiated. The course costs $ 8,500 USD.
Total costs are $ 17,300 USD
PVS
What is the current status globally? You mentioned that their of COE’s in some countries already and would provide information
Kate has mentioned that she has COEs in;
USA ( number and details not known)
UK ( details not known)
Sweden ( details not known)
Poland ( individuals created a CoE after negotiation a significant contract in Poland)
Though the CoEs are named by country, it appears that the activities are based on expertise and relationship. There was an instance where Kaate needed to make a decision on who would service a particular client where two consultants were looking to engage. The decision went to the consultant who had the stronger relationship with the client.
PVS
Linked to the above, how do we avoid this becoming diluted. Perhaps first to market is the key..?
Relationships appear to be the key to; claiming a client and building awareness. Being recognized as the CoE is certainly a start. This will mean that a certain level of inquiries will be driven to the CoE from out side. Holding out the distinction of being “ Vested Outsourcing “ Certified creates a certain exclusivity and validity. In the instance that we are considering having linked CoEs, North America and UK ( and Asia in your case) is a definite advantage
PVS
We have been thinking in client terms but what offering is their also to service providers i.e. how do we get them to see the benefits
We need to be drawing from the case studies and examples that have been developed by the Vested Outsourcing team in the USA. This needs to be coupled with industry examples of firms in Canada and the UK who have made the change successfully. There is a good chance that the corporate “champions” of vested outsourcing could become advocate / spokespeople at industry events promotion the process and educating companies. Corporations will likely pay more attention to understanding the successes of their competition than they will listen to a selling pitch from a consultant.
The tipping point for Vested is here or will be here shortly. Using the momentum of the shift in acceptance will be important in the selling of the service.
Getting clients to see the benefits will be a combination of empirical models coupled with current examples from industry.
TG/FR/PVS
Forbes to set up meeting with RJ,DJ and selected Account Managers in US
I think of the LEED certification process as perhaps a similar commercial/roll out model or is this different?
Firstly, how do we leverage the ‘vested’ approach to make it a consistent and global offering that is a differentiator/USP for a/our consulting business?
It is important to first understand the dynamics of the existing landscape. Consider the conventional way in which a consulting engagement is initiated and sourced. During the RFP phase, a prospective client specifies a list of deliverables that need to be fulfilled – in essence a systematically categorized wish list. This is the preliminary basis upon which an agreement is struck, as the consultant (usually more a team that is chosen based on the global brand they represent) demonstrates their capability to fulfill each item on that list. Until a contract is signed, this is an engaged, two-way conversation, but once an agreement is formally reached, the underlying risk dynamics immediately shift squarely to the shoulders of the client. After the agreement is struck, as long as a consultant delivers that list of items, they have fulfilled their responsibility. It is a structure that can at times be adversarial as there are no mechanisms that evaluate for the accuracy or depth to which each of these items are satisfied. There is actually little recourse available to the client unless specifically mandated in the contract – a process that can be characterized by the inclusion of adversarial terms and conditions.
The cycle is allowed to repeat in perpetuity as the decision maker at the client will shield him/herself from any negative fallout resulting from a sub-par execution of the assignment, by pointing to the quality of the brand that was engaged at the outset. All is forgiven, and the process goes back to square one. It is a methodology that is fraught with inefficiency.
The vested approach represents a departure from the status quo, as mechanisms are embedded to assure the quality of the deliverable can be continually monitored and evaluated. It’s not just about brand and past successes, but is based on the quality of the end product. Remember, the key to this methodology is creating a win-win between client and service provider, by ensuring risk and the reward that follows is shared between both parties. One of the best ways for the consultant to manage the risk is to take a more hands on approach to the work. This requires gaining a solid understanding of the business, its structure, mandates, and the roles of people. Our approach is one where terms and conditions include a proviso assuring quality of the end deliverable, and quality is continually monitored against benchmarks. Understanding the cultural aspects of the organization as well as its key missions shape the way in which the assignment is tackled. Ultimately, this knowledge is layered on top of the assignment, which ultimately yields a higher quality output.
Vested training for the team will provide the backdrop against which repeatable standards can be developed and applied globally. This will be further enhanced through the experiences gained in the first few consulting engagements, as practices become standardized. If all is executed properly and we properly implement a brand strategy that leverages ‘Vested’, we will have an approach that clearly differentiates itself from competitors globally. It is for this reason that first out of the gate (i.e. the real estate organization that embraces Vested) will win. Thus, timing is critical.
We have been thinking in client terms but what offering is their also to service providers i.e. how do we get them to see the benefits
One of the noticeable deficiencies of service providers (in real estate) is the narrow scope through which they offer services. No matter the complexity of assignment, it always comes down to pinning success off of a few predictable and well-worn metrics. For example, a client may have a pending real estate situation involving co-terminus lease expiries in the next few years, which also coincides with a major acquisition. The complexity of the situation is one calling for the engagement of the third party service provider. When it comes to the real estate sector, those providers typically come under the cover of an internationally-recognized brand, but when offering services remain somewhat myopic in the solutions. More times than not, the solutions will be couched in predictable terms: cost per unit of space, location and perhaps the most current trend in interior design. The strategic dimension that plays into this (the aforementioned culture, the financial impact, and the ramifications of the acquisition) are not even considered. If there is a way to standardize ways in which these latter elements can be incorporated, it provides an instantaneous point of differentiation. Of course the challenge is not to give away the secret sauce, but to provide just enough benefit to make the proposition one that is too compelling to ignore.
One of the key value propositions going in is the fact that we are proposing a consulting practice that is based on the vested approach. Depending on our collective ability to grab vested and integrate it into a real estate-based practice, and be first movers in the space, we can become a global thought leader. Service providers could benefit by participating in training modules that are specifically designed for the services they pitch to their clients. So a point of differentiation would be to create a training program for service providers.
I think of the LEED certification process as perhaps a similar commercial/roll out model or is this different?
LEED was a standard that monetized the movement embracing environmental sustainability within buildings. Until this organization effectively went out and placed structure around this by creating standards (an increasing adherence to which would lead to higher degrees of certification), it was nothing more than a niche movement with a handful of followers such as Conde Naste, ING and the National Audubon Society. Once established, it set a framework primarily for how buildings would be constructed and operated.
You are quite right that it is similar, as it is a brand that has been developed and rolled out, but what we are proposing is a standard applied to people who work within real estate. In this sense, it is like Six Sigma, a standard that uses a number of techniques to enhance business strategy. Six Sigma is based on standards used in quality control, whereas Vested is an approach that deals with the equitable allocation of risk around involved parties. There is a fundamentally different stand-alone proposition, but one that resonates powerfully with real estate organizations especially in an era where greater collaboration exists between client organizations who outsource specialized assignments with unique skillsets.
TG
There is potential to set up a Procore US/Canadian office of some sort and add to Procore Europe and Asia and become a true global consultancy business. We have looked at this in some minor detail and spoken to a couple of individuals but it has been on the ‘back burner’ with everything else that is going on. However, we would like to progress this in some form on 2015. Some additional thoughts:-
To be Discussed
What form would this take e.g. wholly owned, partnership, MOU, JV, equity, license, size etc
To be Discussed
Linked to the above, how would you envisage the commercials working
To be Discussed
Where would it be based, Canada or US?
To be Discussed
What clients/order book could be part and indeed what would be the overall business case?
To be Discussed
hat clients/order book could be part and indeed what would be the overall business case?
To be Discussed