Using Your “Sat Nav”!
           “Sat Nav”!
                      for


        GLASGOW
        entrepreneurs
         17 ...
What We’ll Cover:


  •   Why do we start up?
  •   Why do we fail?
  •   Some suggestions about what to do about it
     ...
Why Do We Start Up?


•   Had a great idea …
•   Made Redundant …
•   Get a rush from achievement/success …
•   Disliked w...
Why Do We Fail?
  • Money?
  • Poor Product/Service?
  • Poor Team?
  • Poor Service?
  • Competition?
  • Government?
  •...
Harvard Study …
•   Conclusions?
     – Set Your Business Direction …
     – Write it Down!
     – Be PASSIONATE about it!...
Setting Business Direction 1 …
Planning the Work …
      SUCCESSFUL BUSINESS DIRECTION – YOUR
      SUCCESSFUL BUSINESS DI...
Setting Business Direction 2 …
… then Working the Plan
  Prepare/
                                                        ...
Setting Business Direction …
Operating Plan
                                                            SWOTT
            ...
Setting Business Direction 3 …
Our Formula for RESULTS



      (P x E) x T = R
                                 P = Plann...
Marketing –
The Entrepreneurs’ View ...

Sales and Marketing is an ...




       For every £1 spent, more £1s should
    ...
Because entrepreneurs carry out 2
key things in business, don’t we … ?




aspire   management services
         Creating ...
Two sides to marketing ...




 •   If you invested £3,000 on                                  •   If your 10 clients spen...
Want More Sales ... ?
                                                             Generate Leads
                        ...
Marketing – Other Points …

 •   Try out lots of different ideas in a small way
 •   Measure their effectiveness
 •   Refi...
The Cycle of Business ...




aspire   management services
         Creating Sustainable Success for Business Owners
Build a Great Team …
 1. Provide Strong Leadership – be prepared to make tough
      decisions quickly
 2.   Have a clear,...
Some Final Ideas …
 • Surround yourself with people you trust and admire.
 • Ask for advice and help regularly.
 • Read go...
Recap, Questions, Answers …
 •   Sat Nav – Remember to Input your DIRECTION
 •   Marketing – Measure each campaign success...
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Glasgow Entrepreneurs 2010 02 17

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Glasgow Entrepreneurs 2010 02 17

  1. 1. Using Your “Sat Nav”! “Sat Nav”! for GLASGOW entrepreneurs 17 February 2010 Gordon JH Mowat CA aspire management services Creating Sustainable Success for Business Owners t: 0800 055 6343 e: info@aspiremanagement.co.uk w: www.aspiremanagement.co.uk
  2. 2. What We’ll Cover: • Why do we start up? • Why do we fail? • Some suggestions about what to do about it – Setting your Direction and Planning – Marketing – Team aspire management services Creating Sustainable Success for Business Owners
  3. 3. Why Do We Start Up? • Had a great idea … • Made Redundant … • Get a rush from achievement/success … • Disliked working for a Madman … • Can do it Better than Boss … • Tired of someone else living off our hard work … aspire management services Creating Sustainable Success for Business Owners
  4. 4. Why Do We Fail? • Money? • Poor Product/Service? • Poor Team? • Poor Service? • Competition? • Government? • Banks? • Anyone Else we can try to BLAME? • POOR FOCUS AND SENSE OF DIRECTION aspire management services Creating Sustainable Success for Business Owners
  5. 5. Harvard Study … • Conclusions? – Set Your Business Direction … – Write it Down! – Be PASSIONATE about it! – Stick to it – Get your team participating – Negotiate the Obstacles – don’t give up! – Learn from Mistakes, just don’t repeat them! aspire management services Creating Sustainable Success for Business Owners
  6. 6. Setting Business Direction 1 … Planning the Work … SUCCESSFUL BUSINESS DIRECTION – YOUR SUCCESSFUL BUSINESS DIRECTION – YOUR SAT NAV VISION, & Rules of 100 Years 1 1 "Guiding Star" the Game 2 10 Years - 2 MISSION SMART Goals 1 Year - 3 3 Operating Plan Quarterly Reviews Team Meetings, Staff Annual 1 Year - 4 4 Targets & Personal Monthly Development, KPIs, Job Budget Reviews Descriptions, Appraisals aspire management services Creating Sustainable Success for Business Owners
  7. 7. Setting Business Direction 2 … … then Working the Plan Prepare/ Planning Process Review Mission Prepare Annual Plan Q1 Q2 Q3 Q4 Input from 90 Day 90 Day 90 Day 90 Day Plan Plan Plan Plan Coach, Team, Other Advisors, Etc. Your Your Your Your Weekly Weekly Weekly Weekly Actions Actions Actions Actions aspire management services Creating Sustainable Success for Business Owners
  8. 8. Setting Business Direction … Operating Plan SWOTT SWOTT Analysis Analysis Review of Review of Marketing Marketing Previous Op Plan Previous Op Plan Plan Plan OPERATING OPERATING PLAN PLAN Staff Staff Cashflow/ Cashflow/ Plan Plan Investment/Resources Investment/Resources Funding Funding Plan Plan aspire management services Creating Sustainable Success for Business Owners
  9. 9. Setting Business Direction 3 … Our Formula for RESULTS (P x E) x T = R P = Planning E = Execution T = Trust R = Results aspire management services Creating Sustainable Success for Business Owners
  10. 10. Marketing – The Entrepreneurs’ View ... Sales and Marketing is an ... For every £1 spent, more £1s should come back in ... Why does that seem to work for some businesses and not for others ... ? aspire management services Creating Sustainable Success for Business Owners
  11. 11. Because entrepreneurs carry out 2 key things in business, don’t we … ? aspire management services Creating Sustainable Success for Business Owners
  12. 12. Two sides to marketing ... • If you invested £3,000 on • If your 10 clients spent advertising and got 10 £1,000 per year each with new clients … you for 6 years … • You paid £300 each • That’s £60,000 to you! • How can we reduce that? • How can we increase that? aspire management services Creating Sustainable Success for Business Owners
  13. 13. Want More Sales ... ? Generate Leads x Conversion Rate = No. of Clients x No. of Transactions x Ave. Sales Value = Sales Income x Margin = aspire management services Creating Sustainable Success for Business Owners PROFIT
  14. 14. Marketing – Other Points … • Try out lots of different ideas in a small way • Measure their effectiveness • Refine/Drop • NetWORK (not Net-sit or Net-eat!) • Online Networking • Follow up who you meet with 1-2-1s and grow good relationships. • Have a Referrals Strategy, and this is NOT trusting in hope! aspire management services Creating Sustainable Success for Business Owners
  15. 15. The Cycle of Business ... aspire management services Creating Sustainable Success for Business Owners
  16. 16. Build a Great Team … 1. Provide Strong Leadership – be prepared to make tough decisions quickly 2. Have a clear, passionate Common Goal, or VISION 3. Set out the Rules of the Game, or Culture 4. Have a clear Action Plan with SMART Objectives 5. Encourage Decision Making 6. Ensure you get the team involved and participating – “bacon and eggs” 7. Provide good Job Descriptions 8. Run regular Appraisals, agree higher Targets for next one and provide support if needed – see Sample 9. Keep training the Team and growing their comfort zones aspire management services Creating Sustainable Success for Business Owners
  17. 17. Some Final Ideas … • Surround yourself with people you trust and admire. • Ask for advice and help regularly. • Read good, relevant books, and put suggestions into practice. • Attend events such as this one. • Review progress regularly, don’t be distracted by trivia, or diverted by obstacles. • Help others. • Have fun, reflect on your journey and relish and celebrate what you are achieving. • Keep well, eat well, keep fit, have good ways to switch off. • Keep going! aspire management services Creating Sustainable Success for Business Owners
  18. 18. Recap, Questions, Answers … • Sat Nav – Remember to Input your DIRECTION • Marketing – Measure each campaign success! • Team – encourage, train and don’t get in the way • Happy to email slides – please give me your business card • Seminars - if enough of you are interested I’m happy to run 5-6 seminars expanding on these areas at a very minimal investment • Website Resource - complimentary downloads at www.aspiremanagement.co.uk – Vision Building, by Collins & Porras – Sample Job Description and Appraisal System – Cash flow model – Improve your debt collection aspire management services Creating Sustainable Success for Business Owners

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