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Key Factors Shared by Successful Business Owners: Tap Into Them and Thrive!
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Key Factors Shared by Successful Business Owners: Tap Into Them and Thrive!

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Do you ever wonder what differentiates good entrepreneurs from wildly successful ones? This presentation will uncover the secrets and drivers to becoming a successful business owner. You will......

Do you ever wonder what differentiates good entrepreneurs from wildly successful ones? This presentation will uncover the secrets and drivers to becoming a successful business owner. You will learn:

• The specific characteristics that are most important to running a thriving business
• How those characteristics have helped entrepreneurs succeed
• How to leverage these characteristics to build an exceptional business

For more information, check out smallbizdom.com.

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  • 1. Key Factors Shared by Successful Business Owners: Tap Into Them and Thrive! The Guardian Life Small Business Research Institute Hosted by the New York Enterprise Report May 12, 2011
  • 2. Agenda
    • Introduction of speakers
    • Background – The Guardian Life Index
    • Key success factors for running a thriving business
    • Factor details
      • Definition
      • Insights
      • Action tips
    • Q&A
  • 3. Meet Our Speakers
    • Patricia G. Greene, Ph.D., MBA
    • – Special Academic Advisor, The Guardian Life Small Business Research Institute
    • – President’s Distinguished Chair in Entrepreneurship , Babson College
    • – Co-Founder , Diana Project ( www.dianaproject.org )
    • – Board Chair , Center for Women’s Business Research
    • John Krubski
    • – Research Advisor, The Guardian Life Small Business Research Institute
    • – Founder and Chairman , International Thought Leadership Council
    • Moderated by: Robert Levin, New York Enterprise Report
  • 4. The Guardian Life Index
    • Goal
      • Determine what matters most to small business owners
    • Key insight
      • Need to re-frame national conversation: ‘Small is not big’
    • Methodology
      • Polled more than 1,100 small business owners
      • Measured positive/negative intensity of responses to 150 issues
  • 5. Key Success Factors
    • Self-fulfilled
    • Collaborative
    • Tech-savvy
    • Future-focused
    • (We’ll also touch on Curious and Action Oriented.)
  • 6. Self-fulfilled
    • Definition
      • Placing high value on personal fulfillment, gratification
    • What matters most
      • Doing something I love to do
      • Deciding how much money I make
      • Being in control of my fate
      • Creating something of value
      • Making my own decisions
      • Working in a place where everyone respects me
  • 7. Self-fulfilled
    • Insights
      • Self-fulfillment starts with “self”
      • Celebrate connection between business and you
      • Give yourself “permission” to enjoy success
      • Take time for yourself to recharge your batteries
      • Respect yourself
  • 8. Self-fulfilled
    • Action Tips
      • Visualize end-result of being a successful small business owner
      • Picture your future if you were working for someone else for 10-20 years
      • Surround yourself with people who are more successful than you
      • Work hard and play hard!
  • 9. Collaborative
    • Definition
      • Creating opportunities for others
      • Delegating effectively
    • What matters most
      • Collaborating with my management team
      • Collaborating with my employees
      • Helping others to have income/opportunities
      • Having reliable business partners
      • Creating a positive working environment
  • 10. Collaborative
    • Insights
      • Get past the “I’m the only one” syndrome
      • Create THE place to work
      • Collaboration outside your company
        • Innovate within your supply chain
        • Partner for larger contracts
        • Solve client/customer challenges together
      • Connect with others with vested interest in your success
  • 11. Collaborative
    • Action Tips
      • Learn how you actually spend your time
      • Hire to meet your next set of objectives
      • Teach and empower employees
      • Network with intentionality
      • Know and understand all those around you
      • Partner with integrity
  • 12. Tech-savvy
    • Definition (What is technology?)
      • Investing time/money to “get technology right”
      • Making my business more effective/efficient
    • What matters most
      • Using software to make my business run more efficiently
      • Using websites to tell prospective customers about my business
      • Using email as a primary means of communication
  • 13. Tech-savvy
    • Insights
      • Recognize importance of core technologies
      • Prioritize investments based on what they can do for your business
      • Be open to new technologies
        • But never do something just because “you should”
      • Understand convergence of personal/ professional technologies
      • Recognize that technology can be invasive/disruptive
  • 14. Tech-savvy
    • Action Tips
      • Present a professional name for your business, e.g. John.doe@widgets.com
      • Invest in professional, searchable website
        • Utilize search engine optimization (SEO), newsletter, blog
      • Delegate what you don’t know
      • Recognize the future is mobile
        • Smart phones
        • Transaction processing
        • Inventory management
        • Calendar management
      • Understand and decide what you don’t need to do
  • 15. Future-focused
    • Definition
      • Being good at both short- and long-term planning
    • What matters most
      • Having sufficient cash flow
      • Having a well thought out plan to run my business day-to-day
      • Having a well thought out plan to run my business in the future
      • Having something to sell or pass to my children (or others)
      • Planning for someone else to run the
      • business after me
  • 16. Future-focused
    • Insights
      • Anticipate how your industry will change
      • Have a clear operating premise (COP) that reflects:
        • Focus
        • Clarity
        • Awareness
        • Prioritization
        • Diligence
        • Commitment
        • Action
  • 17. Future-focused
    • You end up with the future you deserve
  • 18. Future-focused
    • Action Tips
      • Focus beyond short-term planning
      • Create a long-term business plan
      • Find a mentor who will help you keep an eye on the future
  • 19. Curious
    • Definition
      • Learning everything possible about why a business succeeds or fails
      • Learning everything possible to help you be better at your business
    • What matters most
      • How to innovate in my business
      • How to improve my business’ productivity
      • How to prospect for new business
      • How to motivate my employees
      • How to keep my employees from leaving
  • 20. Action Oriented
    • Definition
      • Being a positive, decisive, ‘get it done’ leader
    • What matters most
      • Moving the business to the next level
      • Finding ways to be noticeably different from competition
      • Recognizing that adversity is a kick in the rear to move forward
      • Taking advantage of emerging opportunities
  • 21.
    • For more information on
    • Curious & Action Oriented
    • Please visit: www.Smallbizdom.com
  • 22. Questions/Comments?
  • 23.
    • For more information, please visit:
    • www.smallbizdom.com
    • smallbizdom.com/commentary
    • Follow us on Twitter @smallbizdomnews
    • Subscribe to our YouTube Channel at
    • GuardianSmallBizdom