welcome to 6 steps to grow your business in a difficult ... · your presenter: chris edwall •...

Welcome To

6 Steps To Grow Your Business in a Difficult

EconomyPart 1

Welcome To Welcome To

6 Steps To Grow Your 6 Steps To Grow Your Business in a Difficult Business in a Difficult

EconomyEconomyPart 1Part 1

Your presenter: Chris Edwall• Education: BSEE, MSEE, MBA

• 25 years of business experience – half in Fortune 200 companies, half in small business; 15 years in machine tools

• President or General Manager of 6 businesses ranging in size from $4M to $350M.

• Success in turnarounds, high/no growth

• Owned 5 businesses, started 3 of them

“I now have a much stronger personal vision & plan. I know more about myself, values, personality type, and goals. The coaching

process has improved my delegation effectiveness, time management, and planning. Chris has done a great job.”

Dan Janka, President, Mag & Chairman of AMT

A little bit about…

• We are the “World’s No.1 Business Coaching Team”

• More than 1,200 Coaching Offices in 26 countries world-wide …

• We coach over 10,000 small businesses per year across US, Canada, Mexico, UK, Australia, New Zealand, and Asia

Increase sales and profits

Free up your time

Create an amazing team

Show you a systematic, proven way to build your business and:

My purpose today…

OwnershipAccountableResponsible

BlameExcusesDenial

Above or Below the Line …

Formula for Life/Business Abundance...

Action’s Formula for CHANGE

(D x V) + F > RDissatisfaction

VisionFirst StepsResistance

The Entrepreneur Ladder

EmployeeEmployee11

InvestorInvestor55Owner/LeaderOwner/Leader44ManagerManager33

EntrepreneurEntrepreneur66

Self EmployedSelf Employed22

Most business owners have a ...

Definition of a Business ...A Commercial,

Profitable, Enterprise –that Works –

without YOU ...Remember to work Remember to work ‘‘ONON’’ your business your business not just not just ‘‘ININ’’ your your

business ...business ...

Top 10 MistakesMade by Small Business Owners

10. Lack of leadership

9. Poor hiring practices

8. Lack of systems/processes

7. Wasting marketing $

6. Competing on price / No USP

5. Lack of planning

4. No financial budget

3. Poor time management

2. Behaving "below the line"

1. Burn out - no FUN!

Six Steps to Massive Results…MASSIVE

RESULTS

ResultsSynergyTeam

LeverageNiche

Mastery From Chaos to Control

Predictable Cash Flow

Systematize for Efficiency

Structure for Growth

Well Oiled Machine

Multiplication or Acquisition

Stability

Cash

Time

Happiness

Diversification

Freedom

MASSIVE

RESULTS

ResultsSynergyTeam

LeverageNiche Predictable

Cash Flow

Systematize for Efficiency

Structure for Growth

Well Oiled Machine

Multiplication or Acquisition

Stability

Cash

Time

Happiness

Diversification

Freedom

Mastery From Chaos to Control

Six Steps to Massive Results…

Mastery: from Chaos to Control

The key to Mastery…

($1,000,000)

($500,000)

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

Revenue

Fixed Costs

Total Expenses

Net Profit

Variable Costs

Are you budgeting for profit?

Are you budgeting your time?

Delivery MasteryDelivery Mastery• There is no use turning on

the tap if the plug is left out

• Time to clean up bottlenecks, complaint areas, and raise basic delivery standards across the board

• It’s all about Delivering with Consistency

Are you delivering consistently?

Destination Mastery Destination Mastery ......

• Be, Do, Have

• Above & Below the Line

• Change Formula

• Goal Setting

• Planning Process

MASSIVE

RESULTS

ResultsSynergyTeam

Leverage

Mastery From Chaos to Control

Systematize for Efficiency

Structure for Growth

Well Oiled Machine

Multiplication or Acquisition

Stability

Cash

Time

Happiness

Diversification

Freedom

Niche Predictable Cash Flow

Six Steps to Massive Results…

Definition of a Niche ...

Unique Selling Proposition

WhatWhat’’s your point of s your point of difference?difference?

Innovators2.5%

EarlyAdopters

13.5%

EarlyMajority

34%

LateMajority

34%Laggards

16%

Time

Perc

enta

ge o

f Ado

pter

sHow do we eliminate price competition?How do we eliminate price competition?

A Successful USP is…• Truly unique • Exciting to your target

market• Something that will get

people talking• Something that can’t be

easily copied, or if it can be, it will be an obvious rip-off on the part of the offending business

Communicating Your Niche…

Other Key Marketing Concepts

• Defining your target market• Marketing as an expense vs.

an investment• Testing & Measuring• Acquisition Cost• Lifetime Value

The ActionCOACHBusiness Chassis…

• This is a powerful business-building concept...

• You can use the same CHASSIS to build either a Ford Contour or a Jaguar X…

Number of LeadsNumber of Leadsxx

Conversion RateConversion Rate==

CustomersCustomersxx

# of Transactions# of Transactionsxx

Avg. $$$ SaleAvg. $$$ Sale==

RevenueRevenuexx

Profit MarginsProfit Margins==

$Profit$$Profit$

Let’s put in some numbers ...Number of LeadsNumber of Leads

xxConversion RateConversion Rate

==CustomersCustomers

xx# of Transactions# of Transactions

xxAvg. $$$ SaleAvg. $$$ Sale

==RevenueRevenue

xxProfit MarginsProfit Margins

==$Profit$$Profit$

400400xx

25%25%==

100100xx22xx

$10,000$10,000==

$2,000,000$2,000,000xx

25% 25% ==

$500,000$500,000

With just a 10% increase...Number of LeadsNumber of Leads

xxConversion RateConversion Rate

==CustomersCustomers

xx# of Transactions# of Transactions

xxAvg. $$$ SaleAvg. $$$ Sale

==RevenueRevenue

xxProfit MarginsProfit Margins

==$Profit$$Profit$

400400xx

25%25%==

100100xx22xx

$10,000$10,000==

$2,000,000$2,000,000xx

25% 25% ==

$500,000$500,000

440440xx

27.5%27.5%==

121121xx

2.22.2xx

$11,000$11,000==

$2,928,020$2,928,020xx

27.5% 27.5% ==

$805,255$805,255

That’s a 46% increase in your

revenue ...

Quoting Warren Buffett ...

“It is not necessary

to do extraordinary things to get extraordinary

results.”World famous investor

World’s 2nd wealthiest man$48 Billion net worth

For FUN… what if 50%?Number of LeadsNumber of Leads

xxConversion RateConversion Rate

==CustomersCustomers

xx# of Transactions# of Transactions

xxAvg. $$$ SaleAvg. $$$ Sale

==RevenueRevenue

xxProfit MarginsProfit Margins

==

$Profit$$Profit$

600600xx

38%38%==

225225xx33xx

$15,000$15,000==

$10.1 million$10.1 millionxx

38%38%==

$3.8 million$3.8 million

400400xx

25%25%==

100100xx22xx

$10,000$10,000==

$2,000,000$2,000,000xx

25% 25% ==

$500,000$500,000

A plan for success…• Step 1 What are your current

5 Ways? What are your goals?

• Step 2 Tune up your current strategies!

• Step 3 Roll out some new strategies!

• Step 4 Systematize the strategies that work the best

• Step 5 Review quarterly

Six Steps to Massive Results…MASSIVE

RESULTS

ResultsSynergyTeam

LeverageNiche

Mastery From Chaos to Control

Predictable Cash Flow

Systematize for Efficiency

Structure for Growth

Well Oiled Machine

Multiplication or Acquisition

Stability

Cash

Time

Happiness

Diversification

Freedom

Questions?

Email: chrisedwall@actioncoach.com

Or call (513) 368-5375

Request the 5 Ways Strategy List, USP Questionnaire, or Assessment

Questionnaire

Re-listen or Download Slides at www.amtonline.org/archive

Join us for Part 2 of this Webinar onTuesday, January 19th at 2:00 EST

Help us prepare by answering AMT’s post-webinar survey.