Solving Business

Problems
with Mike Figliuolo
Exercise Handout
The Problem Solving Process

ues Best
A l l Iss Guess
tify
Iden Analy
ze the
Paths
ro blem Pitch
a Rec
eP
P in th omm
endat
ion

Con
cep ing
tua ink
l Th al Th
inki
ng Critic

Output Output Output Output Output

Clearly defined problem Factors and issues Possible solutions scoped as Deep analysis of Synthesis of data into a clear,
statement with success affecting answer defined hypotheses and most likely hypothesized answers. structured and compelling
criteria and categorized answers chosen for analysis Paths either confirmed recommendation
or eliminated with data

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Pin the Problem - Pinning Questions
What is the high level problem?
Answer focusing questions
What is the objective?

Who are the stakeholders/influencers?

How will you measure success?

What will be the specific scope?

What constraints exist?

Evaluate prior efforts

Has this problem been considered in the past? What’s different now?

Were there any challenges last time this was addressed?

What ingoing assumptions limit our thinking?

Who was involved in the problem solving?

Derive insights from new lenses

What are the perspectives of the CEO, front line staff, customers?

What is the 10,000 ft. view vs. the 50 ft. view?

Can you reimagine the problem in new ways?

What happens if you remove built-in constraints?

Understand relevant causalities

Are elements of the problem derived from other elements?

What are the root causes of this problem?

Is there actually a deeper or preceding problem?

Are there repercussions to anticipate?

Are there chronology/sequence issues relating to the problem?

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The Problem Solving Process

Product A Region 1 Short term

Sales Product B Sales force Region 2 Strategy Mid-term

Product C Region 3 Long term

Current
Revenues Financial customers

Profits Challenges Marketing Segments

Costs Strategy Prospect
customers

Sort aspects of the problem into distinct/complete categories by function or theme

Some will be related. Others will be different enough to merit a separate category

Solving Business Problems with Mike Figliuolo

Limit number of primary categories for easy map-making

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As You Analyze, Pick the Best Paths in the Least Time

“High Road” – Look from Above

Always revisit your Best Guess and the “pinned” problem

Estimate expected rewards before you start detailed analysis

Use 80/20 and back-of-envelope thinking

Use experts as data sources

Share good ideas

Test your thinking

“Low Road” – Evaluate the Ground

Only run the numbers you need to run

Don’t wander into the weeds for too long

Beware of “polishing dirt”

Focus your attention on only the best paths

Get back on the high road regularly to regain perspective and get out of the details

Trust your gut! Take risks!

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Guiding Principles on Assertions

Assertions are truths stated for persuasion

Assertions are clear, explicit and direct – the audience knows where you stand

The difference between a strong assertion and a weak opinion is the facts

In a conflict of assertions, the best evidence wins

Once an audience agrees with your assertion’s proofs, controversy disappears

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