Symposium  Bw  Small Business 060309 350pm Kh
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Symposium Bw Small Business 060309 350pm Kh

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Small Business Growth -- Dr. Bob Wright, American Family's Business Accelerator Symposium, Chicago, June 4, 2009

Small Business Growth -- Dr. Bob Wright, American Family's Business Accelerator Symposium, Chicago, June 4, 2009

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  • You don’t have this slide…
  • You have a version of this slide – slide 3.
  • Builds by bullet point 24 M 10 or 2.6M—90% Under
  • Room Discussion
  • Don’t we need text number in this?
  • Press F5 or enter presentation mode to view the poll
  • Paired sharing Just happened Fired Friend asked Tired of doing things for free Angry at boss Low integrity of employer Needed more money Wanted more money Saw an opportunity in the marketplace
  • Just happened Fired Friend asked Tired of doing things for free Angry at boss Low integrity of employer Needed more money Wanted more money Saw an opportunity in the marketplace
  • Paired sharing Just happened Fired Friend asked Tired of doing things for free Angry at boss Low integrity of employer Needed more money Wanted more money Saw an opportunity in the marketplace
  • Poll: What is your primary motivation to re... Press F5 or use the tool bar to enter presentation mode in order to see the poll.
  • What is motivation?
  • Paired sharing
  • Poll: How much do you want to grow your bus... Press F5 or use the tool bar to enter presentation mode in order to see the poll.
  • Redesign
  • Do as build
  • Do as build with key elements—really go into the learning and emotional journey Level 1-LG Level 2-PM Level 3-KM Level 4-RL Level 5- Level 6-TT Level 7-DY
  • Do as build with key elements—really go into the learning and emotional journey Level 1-LG Level 2-PM Level 3-KM Level 4-RL Level 5- Level 6-TT Level 7-DY
  • Do as build with key elements—really go into the learning and emotional journey Level 1-LG Level 2-PM Level 3-KM Level 4-RL Level 5- Level 6-TT Level 7-DY
  • Do as build with key elements—really go into the learning and emotional journey Level 1-LG Level 2-PM Level 3-KM Level 4-RL Level 5- Level 6-TT Level 7-DY
  • Do as build with key elements—really go into the learning and emotional journey Level 1-LG Level 2-PM Level 3-KM Level 4-RL Level 5- Level 6-TT Level 7-DY
  • Do as build with key elements—really go into the learning and emotional journey Level 1-LG Level 2-PM Level 3-KM Level 4-RL Level 5- Level 6-TT Level 7-DY
  • This will help us tailor the follow-up sessions—also send you questions for each session so we can tailor our material and select the experts we bring in
  • Poll: Where is your business currently? Press F5 or use the tool bar to enter presentation mode in order to see the poll.

Symposium  Bw  Small Business 060309 350pm Kh Symposium Bw Small Business 060309 350pm Kh Presentation Transcript

  • Small Business Ownership And Success — An Adventure In Transformation
  • What’s in it for me?
        • More money
        • Greater satisfaction and security
        • Greater understanding of the journey and the requirements to go to the next level and beyond
        • Improved planning
        • Improved problem solving
        • Less confusion
        • Better sales
  • Overview - How am I going to get it?
        • The why and how of small business
        • Where you fit in with other businesses
        • A map to enhance success
        • Your purpose and motivation
        • Planning mode
        • A powerful model to overcome breakdowns
        • The key to selling success
        • Next steps
  • Small Business Ownership Is An Adventure in Transformation!
    • Opportunities
    • Chasing your dreams
    • Creating your reality
    • Taking charge of your life
    Challenges Learn Grow Stretch Transform Rewards Money Satisfaction Fulfillment
  • Operating Agreements - How to get the most ….
    • Participate fully
    • Create value for yourself
    • Speak from your own experience
    • Be open-minded and honest
    • Practice e-etiquette: cell phones silent but handy
    • Participate in the whole series
    • Engage in accelerated learning
  • Accelerated Learning
    • State Changes
        • Small Group Discussions and Paired Sharing
        • Applause
        • Laughter
    • Exercises
    • Review
    • 80/20 Rule
  • Business in the United States
    • How many businesses are there in the U.S.?
    • How many make more than $1 million annually?
    • How many have no employees?
    • How many have 10 or more employees?
    Source: National Small Business Association
  • What Do Small Business Owners Want?
    • Question: What is the primary thing that small business owners want from being in business?
  • Poll: What Do YOU Want From Small Business Ownership?
    • What is the primary thing that you want from being a small business owner?
      • A. More money
      • B. More time with family
      • C. Freedom; More control over my life
      • D. Better products or services
      • E. To be of service to the community
      • F. Other
  • Poll Instructions
    • Text all responses to: 99503
    To: 99503 12273 Look at the presenter’s screen to find the four or five-digit code for your chosen answer. Enter that code in the body of your text message; click send. From: 99503 Thank you
  •  
  • Discussion
    • Reflect on how you became a small business owner.
  • Becoming A Small Business Owner
    • Question: How do people become small business owners?
  • Discussion
    • Reflect on how you became a small business owner.
  • Purpose & Motivation for Small Business Owners
  • Poll: Remaining A Small Business Owner
    • Question: What is your primary motivation to remain a small business owner?
      • A. Financial – more money
      • B. Personal – more time with family, more control
      • over my life, freedom
      • C. Values – being of service
      • D. Other
  • Poll: What is your primary motivation to re...
  • Balanced Purpose & Motivation This Small Business $$ Financial Motivation Personal Motivation Values Motivation
  • Imbalance: Lack of Personal Purpose & Motivation This Lack of Personal Motivation Small Business
  • Imbalance: Lack of Financial Purpose & Motivation This Lack of Financial Motivation $$ Small Business
  • Imbalance: Lack of Values-Based Purpose & Motivation Lack of Values Motivation Small Business
  • Reorienting to Clear Purpose Purpose
  • Purpose Gives Meaning To Goals Purpose = Why Goals = What G G G G G G G G G G G G G G G
  • Five Missions of Business Ownership Client Staff Financial Community Personal Higher Purpose and Missions
  • Discussion
    • Share your own reasons for continuing to be a small business owner – and assess the balance of your purpose and motivations.
    My higher purpose is . . . My higher value is . . . Small Business $$ Financial Motivation Personal Motivation Values Motivation
  • Journey of Small Business Owners, The Adventure
  • Journey of Small Business Owners
    • Each of you starts from a different place, with different goals.
    A A B A B A B
  • Journey of Small Business Owners
    • You each have different financial starting points and goals.
    A B A B A A
  • Journey of Small Business Owners
    • You each have different ideas about the ideal size of your staff.
    A B A B A
  • Journey of Small Business Owners
    • You each have different lifestyle needs.
    A
  • Commitment to Growth
    • Regardless of where you start, if you are here, we assume you want to grow – and transform in the process.
    This
  • Poll: Desire For Growth
    • How much do you want to grow your business in the next year?
    • A. Do not want to grow – fine as is/match last year
    • B. Up to 10%
    • C. 11-20%
    • D. 21-25%
    • E. 26-50%
    • F. More than 50%
  • Poll: How much do you want to grow your bus...
  • The Most Important Skill You Need to Succeed Second
  • What Do You Need to Succeed?
      • Know where you are
      • Know where you are going
      • Know what it takes to get there – and do/build it
      • Anticipate challenges – prepare for and overcome them
      • Solve problems, learn, and grow
    This
  • A Map, A Plan, and A Guide with a Flashlight
    • Know your map. Where’s your A and B?
    • Have a plan to get from A to B.
    • Most break down because they don’t know what it takes.
    • They hit a roadblock and freeze.
    • You need a guide – with a flashlight,
    • understanding, and high expectations.
  • Vision Realization Planning & Development Process Knowledge Skill Attitude & Motivation A B PLANNING Why am I doing it? What do I need to be able to do? What do I need to know? VISION
  • Vision Realization Breakdown Analysis Process This Knowledge Skill Personal Block A B BREAKDOWN What didn’t I know? What couldn’t I do? Why didn’t I do it? What other help do I need to overcome this? Attitude & Motivation VISION Learn and Grow
  • Common Causes of Breakdown & Failure
        • Self-satisfaction with success
        • Pride/unwilling to take feedback
        • Denial of truth
        • Disorganization
        • Lack of motivation and accountability
        • Failure to focus on bottom line
        • Unwillingness to risk
        • Authority issues
  • The Map - Getting To Know Where You Are This Initiating Establishing Emerging Differentiating Generating Self-Developing Level 1 Level 2 Level 3 Level 4 Level 5 Level 6
  • Initiating This
    • Starting out
    • Learning your product or service
    • Solo -- or solo plus temp
    • Revenues: zero to $100k/year*
    • Developing informal systems to keep track of work, keep word to client
    • Key challenges: lots to learn, feeling overwhelmed and alone, scarcity, poor self-organization, sales
    Level 1 Initiating Level 2 Establishing Level 3 Emerging Level 4 Differentiating Level 5 Generating Level 6 Self-Developing
  • Establishing This
    • Getting the hang of your business
    • Figuring out how to sell and deliver as promised
    • Continue to develop informal systems
    • Revenues: $100-$200k/year*
    • Solo – or 1-2 employees
    • Key challenges: low accountability, keeping up with new business, cash flow, maintain relationships with multiple clients and staff
    • Managing the sales/famine cycle
    Level 1 Initiating Level 2 Establishing Level 3 Emerging Level 4 Differentiating Level 5 Generating Level 6 Self-Developing
  • Emerging This
    • Gaining traction
    • Beginning to feel a sense of mastery and gain confidence
    • Beginning to establish more formal systems and routines
    • Revenues: $500k to over $2M/year*
    • Solo – or team of 3-10 employees and/or contractors
    • Key challenges: establishing systems; hiring, training, and managing staff; billing and collecting; contractor relationships
    Level 1 Initiating Level 2 Establishing Level 3 Emerging Level 4 Differentiating Level 5 Generating Level 6 Self-Developing
  • Differentiating This
    • Establishing key distinctions in marketplace – and within multiple functions of your business
    • Developing and refining formal systems
    • Revenues: $1M to over $5M/year*
    • Multiple employees, teams
    • Key challenges: using systems, managing multiple relationships
    Level 1 Initiating Level 2 Establishing Level 3 Emerging Level 4 Differentiating Level 5 Generating Level 6 Self-Developing
  • Generating This
    • Innovating and aggressively generating business, often leading to aggressive growth
    • Continued life of the company dubious without
    • Upgrading and solidifying formal systems, including company-wide planning
    • Revenues: $3M* to millions in revenues
    • From 15 to hundreds of staff; full comp and benefits plans; performance-based comp
    • Key challenges: sizing systems to handle rapid growth and/or fluctuations; succession; developing internal talent; hiring external expertise
    Level 1 Initiating Level 2 Establishing Level 3 Emerging Level 4 Differentiating Level 5 Generating Level 6 Self-Developing
  • Self-Developing This
    • Mature organization that is growing robustly and creatively without you (founder).
    • Strong, collaborative business functions across areas -- human resources, finance, delivery, and sales. Systems are self generating and adapt to changing market conditions or the business drops back to levels 4 and 5.
    • Revenues: $15M* to hundreds of millions and up
    • 50 or more staff,* including top performers in all areas, from first hire to top executive
    • Key challenges: maintenance versus transformation; maximization and market maintenance or growth
    Level 1 Initiating Level 2 Establishing Level 3 Emerging Level 4 Differentiating Level 5 Generating Level 6 Self-Developing
  • Poll: Where Are You?
    • Question: Where is your business currently?
    • A. Level 1: Initiating
    • B. Level 2: Establishing
    • C. Level 3: Emerging
    • D. Level 4: Differentiating
    • E. Level 5: Generating
    • F. Level 6: Self-Developing
  • Poll: Where is your business currently?
  • Business Accelerator Program Maps and Tools to Come
    • During our monthly teleconferences, we’re going to work together on key disciplines – their attributes and how to build them at each level – including:
        • Finance
        • Sales
        • Marketing
        • Human Capital
        • Leadership