How Your Small Business Can Succeed
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How Your Small Business Can Succeed

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How Your Small Business Can Succeed How Your Small Business Can Succeed Presentation Transcript

  • How to survive the big entrepreneurial lie Presented by: Reg Gupton, MBA Creative Growth Seminars 1919 14th, Suite 805 Boulder, CO 80302 www.businesssuccessvideos.com [email_address] 800.418.0401
  • How did you decide to begin your business?
    • An Entrepreneurial Seizure
      • Doing technical work
      • Real good at it
      • For someone else.
  • Fatal assumption
    • If you understand the technical work of a business, you understand a business that does that technical work
    • The technical work of a business and a business that does that technical work are two totally different things!
    • The technician suffering from an Entrepreneurial Seizure turns the work he loves into a bad job.
  • Every small business owner is:
    • The Entrepreneur
    • The Manager(a.k.a., The Boss)
    • The Technician
  • The Entrepreneur
    • Lives in the future
    • The innovator, grand strategist
    • Creator of new markets
    • Extraordinary need for control
    • Supreme need for change
    • Rapidly outdistances those around him
    • Surrounded by the sound of dragging feet.
  • The Manager (a.k.a., The Boss)
    • The pragmatist
    • Brings order, planning and
    • predictability
    • Lives in the past
    • Compulsively clings to the status quo
    • Sees problems everywhere
    • Builds a house and lives in it forever.
  • The Technician
    • The ultimate doer
    • “ If I want it done, I have
    • to do it yourself”
    • Lives in the present
    • Happiest when working but
    • only on one thing at a time
    • Thinking isn’t work, it just gets in the way
    • Only interest - how to do it
    • Verges on stubborn
  • The typical small business owner
    • 10% Entrepreneur-Wakes with a vision
    • 20% Manager-Screams “Oh no”
    • 70% Technician-while the battle rages
    Goes into business for himself
  • Your Success Blueprint
    • Describe what your company does
      • What you sell
      • How you sell it
      • Who you sell it to
    • What is your philosophy towards your customer
    • How have your methods of doing business changed since your started your company.
  • Your Success Blueprint
    • What is your vision for your business
    • 6 months
    • 1 year
    • 3-5 years
    • 10 years
    • What is your biggest strength
    • What is your biggest weakness.
  • Your Success Blueprint
    • Describe your ideal customer
    • What is the biggest customer complaint about your industry?
    • What are you doing about it?
    • What are you doing to catch up?.
  • Three phases of Business Growth
    • Infancy
    • Adolescence
    • Maturity
  • Infancy
    • The owner and the business are one and the same thing
    • You believe, there is no one like you
    • You are the best
    • You love and live it
    • Then you start falling behind
    • Infancy ends when the owner realizes that it can not go on like it has been.
  • If you are a technician
    • It is complicated, frustrating and eventually
    • A Demeaning Job.
    • The purpose of going into business is to get free of a job so you can create jobs for others.
  • Adolescence
    • Begins when you realize that you need some help
    • It is inevitable
    • What kind of help will you seek?
      • Hire team
        • full
        • part time
      • Consultant
    • Technical help
    • Management by Abdication.
  • Only three choices
    • Get small again
    • Go for broke
    • Adolescent survival
      • fighting day to day
      • same battles
      • same way
      • never change.
  • Maturity
    • The third phase
    • Start as Mature Companies
    • Totally different perspective
    • The Entrepreneurial
    • Perspective?
  • The Entrepreneurial Perspective
    • Tom Watson
  • What is this perspective?
    • How does it look?
    • How does it act?
    • How does it do what it is supposed to do?
    • How must the business work?
    • A system for producing outside results - for the customer
    • Begins with a picture the future.
  • The key questions
    • Where do I wish to be?
    • When do I wish to be there?
    • How much capital will it take?
    • How many people, doing what work, and how?
    • What technology is required?
    • How large a space will be needed? When?.
  • Your most important asset
    • Great, educated, discriminating, loyal customers
  • What are your current sources of business?
    • Repeat
    • Referrals
    • Cold Calls
    • Media Ads
    • Past customer referrals
    • Web Site.
  • Your ideal customer??
    • Demographics
      • who?
    • Psychographics 1
      • why?.
      • 1 The characteristics of an target audience based on its values, beliefs and attitudes.
  • The Five Gates of Customer Selection
    • 1. Can you satisfy their basic business needs? (at a profit)
    2. Can you meet with the key decision maker? 3. Are they qualified? (really) 4. Are their time frame expectations real? 5. Do they have a similar value system?.
  • Your Most Fertile Field
    • Current Clients/Customers
    • Past Clients/Customers
    • Friends/Acquaintances.
  • What is your USP?
    • What makes you special in the marketplace?
    • What do you have that your competitors don’t - or can’t provide?
    • What is special about your products/service?
    • How or why is your delivery faster?
    • What makes your talents or management skills better?.
    • What is it about your service that sets you apart from your competition - specifically?
    • Why should anyone buy from you, rather than others in the marketplace?.
    What is your USP?
  • Be aware and afraid
    • Most low price leaders go out of business while trying to provide high levels of service.
  • What is a system?
    • A set of things, actions, ideas, and information that interact with each other, and in so doing, alter other systems.
  • The key is in the system!
    • Hard systems
    • How to fill out forms
    • How operate to machines
    • Soft systems
    • Selling system
    • Information System.
  • Information System - calling
    • How many calls were made
    • How many prospects were reached
    • How many appointments were scheduled
    • How many appointments were confirmed
    • How many appointments were held
    • How many needs analysis presentations were scheduled.
  • Information System - direct mail
    • How many piece sent were made
    • How many calls received
    • How many appointments were scheduled
    • How many appointments were confirmed
    • How many appointments were held
    • How many needs analysis presentations were scheduled.
  • Selling system
    • Scripting of the words
    • Creation of the collateral materials
    • Memorization of scripts or talking points
    • Delivery of script
    • Leave them alone.
  • Power Selling System
    • Appointment presentation
    • Needs analysis presentation
    • Solutions presentation.
  • Your touchstones for the future
    • Supplier/Vendor of Choice
    • Focus on actual source of business
    • Use of the web
      • e commerce
      • build your list
      • sell something
      • on line brochure
  • Your touchstones for the future
    • Automate your business with a digital databases
    • Target Marketing
    • Computer literate - Web/e mail
    • Understand your customers
    • Value-added vs. price
    • Use Relationship Marketing/Selling
    • Form strategic alliances.
  • Reg’s Business Success Videos If you liked what you saw, subscribe to my channel @ www.youtube.com/user/reggupton Watch other videos at www.businesssuccessvideos.com Email me @ [email_address] Follow me @ www.twitter.com/reggupton Find me @ www.facebook.com/reggupton Add me to your Linked in network www.linkedin.com/in/reggupton
  • Help is at hand
    • When you are ready to move forward and implement proven strategies that can help you utilize the techniques discussed, call 303.544.0340 for a business assessment before it is too late.