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Building a global small business 2013
Guy Rigby, Head of Entrepreneurial Services at Smith & Williamson, presented on building a global small business. He discussed the traits of successful entrepreneurs, developing a vision and strategy, maintaining flexibility while staying focused, financing options, professionalizing the business, building a brand identity and culture, sales and marketing strategies, partnerships and collaboration, international expansion, acquisition strategies ("buy and build"), and concluded that building a great business requires excelling at many small details.
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Building a global small business 2013
- 1. Guy Rigby Head ofEntrepreneurial Services Smith & Williamson Tel: 020 7131 8213 Email: guy.rigby@smith.williamson.co.uk Twitter: @guyrigby Building a global small business
- 2. Disclaimer This presentation isof a general nature and is not a substitute for professional advice. No responsibility can be accepted for the consequences of any action taken or refrained from as a result of what is said.
- 3. About me Author ENTHUSIAST! Adviser to SMEs/ owners Business owner – professional services Director / shareholder - IT, defence, property, retail, manufacturing, investment management Sales and marketing director Head of entrepreneursTwitter: @guyrigby
- 4. To Learn More… TheEntrepreneur’s Guide to Building and Selling a Business Available from NOW!
- 5. My beliefs Building aglobal small business - “If you turn the same handle, you get the same result” - “If you‟ve got nothing to do, go and polish the church pews. Something will happen!” - “Bet on the future” - “Who cares wins” - “If it isn‟t broken, break it”
- 6. Today‟s presentation Building aglobal small business • My beliefs • Entrepreneurial traits • Vision and strategy • Flexibility and focus • Financing the business • Professionalising the business • Brand identity and culture
- 7. Today‟s presentation Building aglobal small business • Brand identity and culture • Sales and marketing • Partnerships and collaboration • International business • Buy and build • Professionalising the business • Brand identity and culture
- 8. The A –Z of entrepreneurs Building a global small business
- 9. The A –Z of entrepreneurs… - A: ambitious, adventurous, assertive - B: brave, bright, boundless - C: confident, collaborative, capitalist - D: determined, driven, disruptive - E: enthusiastic, enterprising, energetic - F: focused, forward-thinking, fundamental - G: gifted, game, gumptious - H: hardworking, hyperactive, headstrong - I: instinctive, impatient, inspirational - J: judicious, just-do-it - K: knowing, kinetic, keen - L: lively, libertarian, limitless - M: masterful, meritorious, maddening Building a global small business
- 10. The A –Z of entrepreneurs… Building a global small business - N: nimble, noteworthy, neurotic - O: optimistic, obsessive, opportunistic, Olympic energy - P: pioneering, passionate, persistent - Q: quick-witted, quizzical, quirky - R: radical, resolute, remarkable - S: strategic, single-minded, stimulating - T: tenacious, talented, tireless - U: unfulfilled, unafraid, unwavering - V: visionary, vehement, versatile - W: worthy, wise, wishful - X: x-factor, xenodochial, xenomorphic - Y: youthful, young-at-heart - Z: zealous, zany
- 11. Building a globalsmall business In the beginning… “Luck is when preparedness meets opportunity” - Earl Nightingale • Vision • Strategy • Business Plan • Commerciality • Scalability • Passion
- 12. Building a globalsmall business Flexibility and focus “About the time we can make the ends meet, somebody moves the ends” – Herbert Hoover • Economy / fire fighting • Continuous assessment • Diamonds are forever • „Burn the boats‟
- 13. Building a globalsmall business Financing the business “Money often costs too much” – Ralph Waldo Emerson • Equity versus debt • Ownership determines outcomes • Backing diggers • Eureka moments
- 14. Building a globalsmall business Professionalising the business “If you limit a company by its structure or people, you will limit the full potential of that business” – Michael Dell • Artisans and heroes • Delegation not abdication • Building a management team • Filling the Bus!
- 15. Building a globalsmall business Brand identity and culture “When anyone tries to run a business solely for profit, it must die, for it no longer has a reason for existence” - adapted from Henry Ford quote • Purpose • Values • Meaning, not money • Triple bottom line
- 16. Building a globalsmall business Sales and marketing “We miss 100% of the sales we don’t ask for” - Zig Ziglar • Product, market, service or price? • Value proposition • WWD versus WIIFM • It‟s digital • Don‟t play at it!
- 17. Building a globalsmall business Partnerships and collaboration “Success in the modern world depends on the real connections you have” – Reid Hoffman • Collaborate to accumulate • Institutional thinking versus network thinking • Network orientation • Additionality of advisers
- 18. Building a globalsmall business International business “Business is moving faster. Globalisation is forcing companies to do things in new ways” – Bill Gates • Everyone can play • Leverage time zones • Choose your markets / model • Choose your brand • Manage risk!
- 19. I‟m fed up Buildinga global small business
- 20. Building a globalsmall business Buy and build “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price” – Warren Buffett • Commercial strategy • Due diligence • Culture • Integration • Risk
- 21. Building a globalsmall business For further information…. • Follow me on Twitter; @guyrigby • Join the Entrepreneurs Group on LinkedIn • Visit www.smith.williamson.co.uk/entrepreneurs
- 22. Building a globalsmall business Conclusion “Building a great business is about doing 100 things better than anyone else” – Guy Rigby Thanks for Listening!
- 23. Guy Rigby Head ofEntrepreneurial Services Smith & Williamson Tel: 020 7131 8213 Email: guy.rigby@smith.williamson.co.uk Twitter: @guyrigby Building a global small business