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How to Build Your Dream Company Doing What You Love Where You Live — Michael Glauser

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Michael Glauser joins 33voices to discuss how to build your dream company doing what you love doing where you live.

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How to Build Your Dream Company Doing What You Love Where You Live — Michael Glauser

  1. 1. Powered by
  2. 2. This presentation consists of highlights from the interview with Moe Abdou, founder & host of 33voices®.
  3. 3. Michael Glauser, Ph.D., is the executive director of the Jeffrey D. Clark Center for Entrepreneurship at Utah State University, an entrepreneur, business consultant, and university professor. He is the co-founder and CEO of My New Enterprise, an online training and development company. He is also the founder and former CEO of Golden Swirl Management Company and of Northern Lights. Both companies were sold to CoolBrands International. Michael Glauser @mjglauser Executive Director of the Jeffrey D. Clark Center for Entrepreneurship at USU
  4. 4. The ‘main street’ entrepreneur makes it her highest priority to become a vital contributor to her community. Unlike ‘Silicon Valley’ Founders, her strategy includes: Insight #1
  5. 5. The ‘main street’ entrepreneur makes it her highest priority to become a vital contributor to her community. Unlike ‘Silicon Valley’ Founders, her strategy includes: Finding a desirable location where she wants to live Insight #1
  6. 6. The ‘main street’ entrepreneur makes it her highest priority to become a vital contributor to her community. Unlike ‘Silicon Valley’ Founders, her strategy includes: Identifying a need in the community that she’s uniquely qualified to fill Insight #1
  7. 7. The ‘main street’ entrepreneur makes it her highest priority to become a vital contributor to her community. Unlike ‘Silicon Valley’ Founders, her strategy includes: She uses a host of resources, other than money to get started Insight #1
  8. 8. The ‘main street’ entrepreneur makes it her highest priority to become a vital contributor to her community. Unlike ‘Silicon Valley’ Founders, her strategy includes: She diversifies her products based on intimate interaction with her customers Insight #1
  9. 9. The ‘main street’ entrepreneur makes it her highest priority to become a vital contributor to her community. Unlike ‘Silicon Valley’ Founders, her strategy includes: She’s driven by purpose and passion. Insight #1
  10. 10. Insight #2 To the ‘main street’ entrepreneur, bigger isn’t always better; to them value-creation reins supreme. They rise largely due to the intangibles: purpose, passion, perseverance, teamwork, exceptional service, pivoting to opportunities, and giving back to the community
  11. 11. Insight #3 A strong sense of purpose is a critical launching pad for a new venture. It guides your growth efforts by:
  12. 12. Insight #3 A strong sense of purpose is a critical launching pad for a new venture. It guides your growth efforts by: Getting you through the difficult times that you will inevitability face
  13. 13. Insight #3 A strong sense of purpose is a critical launching pad for a new venture. It guides your growth efforts by: Setting a higher standard of excellence for your business
  14. 14. Insight #3 A strong sense of purpose is a critical launching pad for a new venture. It guides your growth efforts by: Appealing to like-minded team members who align with your values
  15. 15. Insight #3 A strong sense of purpose is a critical launching pad for a new venture. It guides your growth efforts by: it attracts and keeps customer who love what you’re doing.
  16. 16. Insight #4 A business opportunity that gains rapid traction is likely to have these five ingredients:
  17. 17. Insight #4 A business opportunity that gains rapid traction is likely to have these five ingredients: A clearly identified NEED
  18. 18. Insight #4 A business opportunity that gains rapid traction is likely to have these five ingredients: Expertise, credibility, and EXPERIENCE
  19. 19. Insight #4 A business opportunity that gains rapid traction is likely to have these five ingredients: RESOURCES - People, Production, Distribution, and Funds
  20. 20. Insight #4 A business opportunity that gains rapid traction is likely to have these five ingredients: CUSTOMERS who are committed to buy the product
  21. 21. Insight #4 A business opportunity that gains rapid traction is likely to have these five ingredients: A BUSINESS MODEL that will capture as much value as it creates
  22. 22. Insight #5 A business with the highest probability to succeed will have:
  23. 23. Insight #5 A business with the highest probability to succeed will have: Multiple sources of revenue
  24. 24. Insight #5 A business with the highest probability to succeed will have: Competitive pricing
  25. 25. Insight #5 A business with the highest probability to succeed will have: A 50% gross margin or better
  26. 26. Insight #5 A business with the highest probability to succeed will have: A 10-20% profit margin
  27. 27. Insight #6 Main street entrepreneurs are masters of efficiency. They think resources first and cash second. Leverage free advisors, acquire used equipment, defer compensation, negotiate exceptional terms, partner with your customer, and use someone else’s building rather than buying one.
  28. 28. Insight #7 Those most likely to succeed in business have an incredible zeal and tenacity to persevere. Here’s how they stay innovative:
  29. 29. Insight #7 Those most likely to succeed in business have an incredible zeal and tenacity to persevere. Here’s how they stay innovative: They revisit their purpose
  30. 30. Insight #7 Those most likely to succeed in business have an incredible zeal and tenacity to persevere. Here’s how they stay innovative: They manage their thoughts
  31. 31. Insight #7 Those most likely to succeed in business have an incredible zeal and tenacity to persevere. Here’s how they stay innovative: They set and achieve goals
  32. 32. Insight #7 Those most likely to succeed in business have an incredible zeal and tenacity to persevere. Here’s how they stay innovative: They take regular breaks
  33. 33. Insight #7 Those most likely to succeed in business have an incredible zeal and tenacity to persevere. Here’s how they stay innovative: They always stay humble
  34. 34. Insight #8 “A creator needs to acquire only 1,000 True Fans to make a living.” - Kevin Kelly on Commu- nity Read about 1,000 True Fans
  35. 35. Insight #9 To protect against the vulnerability of a single product or service. Pivot to:
  36. 36. Insight #9 To protect against the vulnerability of a single product or service. Pivot to: Find new products for your growing customer base
  37. 37. Insight #9 To protect against the vulnerability of a single product or service. Pivot to: Find new market niches for your growing product line
  38. 38. Insight #9 To protect against the vulnerability of a single product or service. Pivot to: Utilize your growing resources to develop new products and services for related business opportunities.
  39. 39. Insight #10 Don’t dream about being big until you have success being small.
  40. 40. Reflect Are you working to find a job or create your own job? tweet us!
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