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Entrepreneur's Toolkit Intensive


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Raw slides from the Jan 2011 UR ENOUGH Action Plan Intensive.

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Entrepreneur's Toolkit Intensive

  1. 1. PresentsThe Entrepreneur’s ToolKit
  2. 2. Who’s Joining Us?
  3. 3. Hmmm…Does thisbe C 2012 is gonna bus go to L Foxwoods?? My Year! I M B Count Me A In!! B O A R D
  4. 4. • Vision and Commitments• Designing a Business Plan• Working Lunch (Elevator Pitch)/Networking Intro• Marketing Strategy• 12 Month Plan• Branding• Levels of Commitment• Social Proof and the Internet
  5. 5. 1.This is your show – you will get what you give2.Small group – lots of questions3.Breaks – up to you4.Respect – we are all adults
  6. 6. Session 1 – The Formula for Success Vision + Commitments = What You Want in Life
  7. 7. The Business Plan• Cover Page • Personnel Plan• Confidentiality Agmnt • Financial Plan• TOC • Sales Forecast Table• Executive Summary • Personnel Table• Company Summary • General Assumptions• Services • Profit and Loss• Market Analysis • Cash Flow• Strategy and • Balance Sheet Implementation
  8. 8. Copyright 2009 UR ENOUGH All Rights Reserved
  9. 9. The Business Plan (Cover Page, Conf. Agreement, TOC)• Cover page should have logo, creator, date• Confidentiality Agreement• TOC – Table of Contents
  10. 10. Executive Summary (BP) (Answer the following questions)1. Are you just starting this company?A startup business plan is different from a business plan for an ongoing business. Business plans for START-UP businesses include:Startup table and chartStartup Funding table and topicStartup Summary topicBusiness plans for ONGOING businesses include:Past Performance table and chartCompany History topic
  11. 11. Start Date: (BP)• This date will be used when you create headers for tables within your financial plan.• For Start Ups – can be the first day you plan on acquiring income from the business• For existing – will be the first month of your current fiscal year
  12. 12. Optional Items: (BP)• SWOT – determine if you will include a SWOT analysis as part of your package. This can be useful for overcoming objections.• Website – you may decide that you will have a web presence and therefore you can have section that speaks to the design and expected outcome of such a website
  13. 13. Financial Forecast: (BP• Determine whether you want to create a standard (usually 3-5 yrs) or long term forecast. For the sake of this class, we will build a standard plan.
  14. 14. Concept Kick StartTime to take a step back and examine the basics of what you are trying to accomplish.Are your goals quantified?Do the numbers make sense?Do you have objections answered before they are presented?
  15. 15. Think of the top three or four goals you wantto achieve for your business.Choose goals which you can track andmeasure. For example, number of newcustomers, total billing, total commissions,number of sales vs. returns, and so on.Find the balancing point between realistic andchallenging.Be specific and measurable, such as "increasesales by 10% this year." Then pick the time framefor each goal to measure your progress -- by day,week, month, or year.
  16. 16. Your mission statement is meant to be asimple, internal message for you and youremployees: What is the core value andpurpose of the company? What is thevision, which will guide companydecisions, now and in the future?Think of it as the rally cry for you andyour employees; this is the reason whyyou do what you do, every day. All othergoals should support this mission.
  17. 17. Virtually every business has keys to successthat make the difference between success andfailure. This depends on who you are and whatyou offer:For example: If you distribute foods to localrestaurants, freshness and quality might beyour keys to success for one strategy, andvariety and price for another.In practice, lists of more than three or fourpriorities are usually less effective. It is usuallybest to list the objectives either as a numberedlist or as a set of bullet points.
  18. 18. Your Company• Company Ownership• Legal Establishment• Facilities• Basic Numbers
  19. 19. Your Company Summary• How the company was started. Think of it as introducing your company to someone. How long have you been in business?• What is the main company address? Are there any other locations? If this is a new business, will you be starting from a home office?• Who owns the company? Is that ownership shared? Who else (besides yourself) are members of your management team?
  20. 20. Company Ownership• Who owns the company? Is there more than one owner? If so, what percentage of the company is held by each owner?• Is it privately owned or publicly held? For example, if you are starting the business by yourself, this is sometimes called a sole proprietorship.• Establishing the legal structure of your business is an important first step for any new business. If you have not yet decided on the structure of your business, we recommend that you research these different ownership options, then work with your lawyer and accountant to help you decide which legal form is best.
  21. 21. Past Performance Table• This is where you will show what actual business you have done to date in your business.• If you have yet to make any sales, or commissions…you may disregard this part• Company History – Include how the company started, when, and by who. Also include any major the company has undergone since its start
  22. 22. Products/Services• Use this topic to explain the services you sell to your customers. You may want to group similar services together, rather than listing them individually. Describe the main features of each. What need does the service fill for your customers?
  23. 23. Your Market• This is a vital part of your business plan. If you are looking to convince others to do business with you, you need to show that you did your due diligence.• Define your market segment• Define your marketing strategy• Market needs• Trends• Growth
  24. 24. Marketing Plan• Market Analysis – Define market groups of target customers – Explain why you selected these targets – Describe the market conditions, growth• Market Segmentation – Describe the market by demographics• Market Segment Strategy – Identify a segment, describe them in detail, and then write how you will approach them as the best prospects
  25. 25. Your Industry• Service Business Analysis –Describe the industry you are in (real estate investing of ‘distressed’ homes –Describe what motivates a seller to do business with someone in your industry –What are the driving forces (time, reputation)
  26. 26. Competition and Buying Patterns• Explain the nature of your competition – What makes customers work with one service over another• How do people choose between competing products• Are brand names important? Or is it simply word of mouth, in which the secret is long- term, satisfied customers?
  27. 27. Your Sales• Don’t be confused – you don’t have to have a physical inventory to have sales SALES = REVENUECreating a solid sales forecast can set you up as ‘knowing’ your business and what can be expected over the long-term
  28. 28. Put into words how you decided onthe numbers in your sales forecast.What information helped you comeup with your numbers?Did you start with customers in yourtarget group to estimate your sales?
  29. 29. Did you use a % to show a rise insales over time?What % did you choose, and why?Will there be higher (or lower) salesat different times of the year?Is this seasonal change common foryour type of business?
  30. 30. Your Marketing Plan• This section will vary based upon your business, your budget, and your resources• You will also defer to your Marketing Plan as a separate document unless you do not have a standalone Marketing Plan• This is also where you would include the results of your SWOT Analysis
  31. 31. SWOT Analysis (Optional)• Strengths, Weaknesses, Opportunities and Threats• The Analysis allows you to show that you have considered your business from the view of the outside, and have built in measures to take advantage of it.• The SWOT Analysis is best served if provided by a 3rd Party such as UR ENOUGH!
  32. 32. Your Competitive Edge• What is your competitive edge?• How is your company different from all others?• Is there a sustainable value that you can maintain and develop over time?• Sometimes market share and brand acceptance are just as important, and know-how doesnt have to be protected by patent to be a competitive edge.• The competitive edge might be different for any given company, even between one company and another in the same industry.
  33. 33. Marketing Strategy• Be Specific• What will you do first• How will you measure its success• What is the next thing you will do• What percentages are you using for your different methods
  34. 34. Milestones This is where you explain how it all comes togetherCreate measurable activities with datesBe as granularly as necessary to make it concreteBe sure to include who is responsible for the activityAlso include a budget for the activity
  35. 35. Your Web Plan• This can be a whole separate document depending on how extensive it will be included in your overall strategy• For the sake of time, we will not cover this today.• To implement a full ecommerce solution you can ask about the BiGIM.
  36. 36. Your Management Team• This can be virtual or physical• Ultimately, you can’t manage it all effectively, and delegation will become necessary• In order to taken seriously, readers of your plan must see that you recognize that• Create a personnel summary – It is better to plan for growth than just react – There will be certain things that you can unload
  37. 37. The Bottom Line• Now that you have listed out – Income projections – Expenses – Personnel needs• You can now show what your cash flow is, and how and when your company will be profitable
  38. 38. The Details• General Assumptions – interest rates, use of short and long term loans, as well as taxes, insurance, etc• Create a Profit and Loss Statement – explain how you came to the numbers• Create a Breakeven Analysis – investors want to know when they can start seeing a return on their money
  39. 39. • Elevator Pitch• Networking Intro techniques
  40. 40. • Your Business Card• Your Reputation• Your Dress• The Experiment – Mall• The Marketing Plan
  41. 41. Copyright 2009 UR ENOUGH All Rights Reserved
  42. 42. FRONT OF CARD BACK OF CARD“Since working ABUNDANCEwith Ray, I haveseen a dramatic GUARANTEED!increase in mybusiness. I cansee that I willreach my goalssoon”. Ray Giumentaro- Suzanne Dyer CEO, Speaker, Coach, Author UR ENOUGH 508-353-0098 Copyright 2009 UR ENOUGH All Rights Reserved
  43. 43. ABM ALWAYS BE MARKETING Copyright 2009 UR ENOUGH All Rights Reserved
  44. 44. Components - MP• Just like the BP, you • Marketing Materials need a start date • Your Web Plan• Your Ideal Customer • Your Service Experience• Differentiators • Your Marketing• Core Strategy Calendar• Product/Service • Critical Numbers Innovation • Your Marketing Vision• Lead Generation• Lead Conversion
  45. 45. Your 12 Month Plans• The Basics• The Tools• Assumptions• The Reasoning• The Process
  46. 46. The 3 PersonalitiesEntrepreneur:• Someone who creates freely, loves to take risks and make decisions, as well as invent. Someone who usually does not like to get tied down doing things and does not like organizing or managing. Someone who is a starter; a visionary.
  47. 47. The 3 PersonalitiesManager:• Someone who really enjoys managing people, organizing and administrating tasks; who enjoys doing many things at the same time. A “natural” problem solver.
  48. 48. The 3 PersonalitiesTechnician:• Someone who is an expert at a particular task or discipline, like an engineer, designer, scientist, repairman or sales person.
  49. 49. Levels of Commitment● Completely aligned with the company vision and see it on their own(authorship)● See their personal commitments as being fulfilled with the company vision● They promise the vision will be realized and will alter the universe if needed
  50. 50. Levels of Commitment● Aligned with the vision (maybe not full agreement but aligned)● See their own personal commitments be fulfilled in the company vision● They will “Do the very best they can”
  51. 51. Levels of Commitment● Aligned with company vision and works diligently toward its realizationMildly Accepting:● Generally aligned with the vision● Compliant and will do what is expected
  52. 52. Levels of Commitment● Aligned with company vision and works diligently toward its realization● Generally aligned with the vision● Compliant and will do what is expected
  53. 53. Levels of Commitment● Company vision isn’t seen as consistent with their own personal commitments● Does just enough to get by; may be hesitant or holding back though● Overtly or Covertly; “I wont do it and you can’t make me.”● I don’t care; and I don’t care if you know it
  54. 54. Bernadette Trafton, Owner Boston AREIARay, Seeing the reactions of the people that were in the room was phenomenal. People really made progress this weekend whether they bought a course or not. For short money they got an incredible weekend and I had probably the best feedback that Ive ever had at an event. It was an absolute shame that more people, particularly the ones that paid and didnt show up, werent there. They missed a great weekend. Your sessions were the absolute glue that pulled the whole event together
  55. 55. Six Ways to Re-Engineer your work life:1. Consolidate several smaller tasks into one single task2. Assign several tasks to one person rather than over several people3. Outsource what you don’t do well to those who specialize in it4. Delegate to other people and other departments often5. Eliminate certain tasks that produce little or no client value6. Change the order of tasks to reduce bottlenecks and increase efficiency
  56. 56. • All attendees will get the link to the recording of the event for review. ($79.00 value)• All attendees will have access to a set of web classes run by me for advanced discussion on what was covered (Starting at $47 value)• All attendees are entitled to a set of 4 Strategy Sessions with me Personally! ($297 value)• Special Discount on Finalizing documents!
  57. 57. …in short Start working ON your business and stop working IN your business! Thank You!!