Special Report, Business Strategies

Special Report Business Strategies How to Survive, Reposition, and Thrive -- Even When Facing Economic Uncertainties… Terry H. Hill Legacy Associates, Inc. Dolly A. Stevens Training for Entrepreneurs.com

How to Survive, Reposition, and Thrive -- Even When Facing Economic Uncertainties Disclaimer © 2009 Copyrighted by Terry H. Hill and Dolly A. Stevens All Rights Reserved: This Special Report, How to Survive, Reposition, and Thrive -- Even When Facing Economic Uncertainties, cannot be reproduced or transmitted electronically or mechanically in any form; nor can it be photocopied, recorded, or stored in any retrieval system. If a reviewer wishes to quote brief passages from this Special Report and reproduce them in a magazine, newspaper, or on the Web, the reviewer must obtain written permission from the publisher. For information, please contact Dolly A. Stevens, Director of Training for Entrepreneurs.com, at 8223 Championship Ct., Lakewood Ranch, Florida, 34202, USA, or at the e-mail address: support@TrainingforEntrepreneurs.com Disclaimer and/or Legal Notices: The information presented in this Special Report represents the view of the author as of the publication date. However, since circumstances may change over time, the author reserves the right to alter and/or update his opinion piece. The Special Report, How to Survive, Reposition, and Thrive -- Even When Facing Economic Uncertainties, should be used for informational purposes only. Every attempt was made to verify the information provided in this Special Report; however, neither the author or the publisher, nor his affiliates/partners assume any responsibility for errors, inaccuracies, or omissions. Any slights to people or organizations are unintentional. If the reader needs advice concerning legal or other related matters, then the reader should seek the services of a fully qualified professional. This Special Report, How to Survive, Reposition, and Thrive -- Even When Facing Economic Uncertainties, is not regarded as a source for legal advice. The reader should be aware of any laws, which govern business transactions or other business practices in his country and state. Reference to any person (living or dead), or any business -- is purely coincidental. © 2009 Copyrighted by Terry H. Hill and Dolly A. Stevens Page | 2

How to Survive, Reposition, and Thrive -- Even When Facing Economic Uncertainties… Preface During this period of economic downturn, businesses of all sizes face critical issues and unique challenges that require well-developed plans and well-defined problem solving approaches. With well-developed plans and problem solving approaches, business owners and executives increase their chances for survival. In most large businesses, strategic planning is a necessity, and therefore, a common practice. In fact, strategic planning in many large organizations becomes a way of life, and its CEOs view it as their major role. Owners/CEOs of small businesses, however, do not view strategic planning as a necessity. They view it as a luxury. In many cases, an entrepreneur claims that he does not have the time for strategic planning since he is too busy "working in his business, not on his business." He relies on his gut instincts to support and justify the viability of his business decisions. He recalls that his gut instincts in other matters have served him well in the past; so, why change. Making decisions based on gut feelings alone is generally an unwise business practice since it is comparable to playing a game of Russian roulette! Without a clear plan of action, the potential for an entrepreneur to be impulsive or reactive is much greater. In today's economic turmoil, an entrepreneurial business owner without a clearly articulated strategy may run the risk of losing his company. The key to business success lies in the ability of the entrepreneur to plan, implement, execute, evaluate, and adjust his business strategies. After all, what are the chances of a government bailout for the owners of small businesses? Realistically, the chances of a government bailout for small businesses are slim to none… Consequently, the only bailout plan that is or will be available to help you make it through the economic uncertainty is the one that you initiate and execute yourself! The challenge of initiating and executing a bailout plan for your small business is a daunting task---a task that is almost impossible to complete successfully unless you have had extensive, prior experience and/or direction that can guide you through the strategic planning process. Creating a detailed “battle plan” would seem like a logical first step for any business owner. However, one of the key findings in Deloitte's survey of private company owners and managers i is that many of them simply do not know the most effective strategies that would © 2009 Copyrighted by Terry H. Hill and Dolly A. Stevens Page | 3

How to Survive, Reposition, and Thrive -- Even When Facing Economic Uncertainties… drive the future success of their companies. In fact, the survey reveals that many business owners want to do the right things better, but they are uncertain about what the right things are to do! They lack a Strategic Action Plan! This complementary Special Report entitled, How to Survive, Reposition, and Thrive -- Even When Facing Economic Uncertainties, presents an overview of the process known as strategic planning. The Report defines the steps in the strategic planning process that are critical to the development of a Strategic Action Plan. The Strategic Action Plan, or the "roadmap," lays out a clear, concise path between the current position of a company and the vision it has for the company’s future position. The Strategic Action Plan lists measureable objectives and recommends key strategic initiatives that assist entrepreneurs in navigating their businesses effectively through these uncertain economic times. This Report demonstrates how the strategic planning process can help an organization deal more effectively and more proactively with the difficult issues and challenges that the organization faces. After completing the strategic planning process, an organization will have a framework for articulating its values, purpose, strengths/weaknesses, and objectives. The Special Report, How to Survive, Reposition, and Thrive -- Even When Facing Economic Uncertainties, presents the process that enables an organization to make better decisions that minimize possible risks and seize valuable opportunities. The process also helps an organization develop the answers to the major questions: What do we need or want to accomplish, and how are we going to accomplish it? The complete copy of this complimentary Special Report is available for download at the Legacy Associates training and development website, http://www.TrainingforEntrepreneurs.com © 2009 Copyrighted by Terry H. Hill and Dolly A. Stevens Page | 4

Special Report, Business Strategies

by Legacy Associates, Inc./Training for Entrepreneurs.com on Mar 12, 2010

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Special Report, Business Strategies — Document Transcript