Find Your Way
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The document discusses finding success for small businesses in the current economic climate. It outlines 7 steps small business owners can take to find their way, including selecting the right customer, problem to address, knowing competition, choosing a competitive advantage, ensuring value-based pricing, and running the business in a balanced way. The presentation also discusses 3 worlds, outcomes, and roles; 5 common challenges; 7 business lifecycle stages and areas of responsibility; and 9 traits of successful businesses and entrepreneurs.
Find Your Way
- 1. Find Your WayPresented by Jan Triplett, Ph.D., CEO Business Success Center
- 2. Current ClimateAlmost 36,000 businesses in the Austin MSA, 7% unemployment, Tx 8.1%, US 9.5% (Aug 2010)Over 95% of firms under 20 employeesNationally — Consumer Confidence LowNationally — Small Business Confidence LowGood News:Historically, small business owners are unusually optimistic no matter what the world looks like.©Business Success Center, Austin, TX 20102LMCI Statistics for Aug 2010 (from TX Workforce Commission)
- 3. Not Just 1 Right Answer to Finding Success©Business Success Center, Austin, TX 20103
- 4. Power of 33 Worlds — Past, Present, Future3 Outcomes — Evolve, Grow, Die3 Roles — Owner/Investor, Manager, Employee3 Success Strategies — Entrepreneur, Proprietor, Guild3 Personal Styles — Entrepreneur, Believer, Rebel©Business Success Center, Austin, TX 20104
- 5. 5 ChallengesEconomicTechnologicalEnvironmentalPoliticalSocial©Business Success Center, Austin, TX 20105
- 6. Magic 77 Business Lifecycle StagesIdeaSurvivalTransitionStabilityEvolutionGrowth Transference7 Areas of ResponsibilityVision/PlanningFinancial ManagementSales & MarketingCompliance & Recordkeeping AdministrationOperationsActivism©Business Success Center, Austin, TX 20106
- 7. 7 Steps to Find Your Way1. Select the right customer — most lucrative or most accessible (Platinum Profile™)2. Select the right problem to address — new world order: Post Cold War, global, divided digitally & economically3. Service before self — business is NOT everything; doing for others, balance©Business Success Center, Austin, TX 20107
- 8. 4. Know your competition — including DIY & Do Nothings5. Choose the best competitive advantage you can defend or use hyper competition to stay ahead6. Ensure your pricing is value-based not cost driven7. Run the business your way balancing life & work©Business Success Center, Austin, TX 20108
- 9. 9 Success TraitsGive me your business card or send me an email and I will send you a link to a quick assessment of the 9 personal and financial traits that I recommend bankers and funding sources look for. Subject Line: “9 Success Traits”My email triplett@bscusa.comFollow me on twitter@JanTriplett, FaceBook@JanTriplett, LinkedIn@JanTriplett©Business Success Center, Austin, TX 20109
- 10. Here’s to Your Success!Find Your WayPresented by Jan Triplett, Ph.D., CEO Business Success Centertriplett@bscusa.com • http://www.ownersview.com • 933.1983