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Growing Your Business: Steps to Success A Fter all the hard work of writing a business plan, securing funding, hir- ing employees and purchasing inventory, you are finally open for business. Now what? The follow-ing steps will put you on a path toward success. Revisit Your Plan The first step to grow your busi-ness is to understand it, and the best way to understand it is to revisit your business plan. What is your business’s mission? What are its core values? What are the short- and long-term goals? Do they align with the mission? To be successful, your business’s mission must guide its growth. What is your business’s current financial and market position? How do your products or services differ from others on the market? What are your profit or loss mar-gins? Do they trigger cash-flow problems? What cycles does your market exhibit, and what kind of growth can you expect? Are there any major trends in customer behavior? Keeping up to speed with your business and its market will help position you for success. Know Your Competition Identify the best business in your field. What makes them excel? How does your busi-ness compare? By examining competitors’ strengths, you can pinpoint what sets them apart. Look for ways to incorporate their best practices. You should also look at com-petitos’ weaknesses. Are they ignoring markets or neglecting customer needs? Find opportunities they are overlooking and take advantage of them. BUSINESS BEGINNINGS Embassy of the United States of America

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  • 1. Growing Your Business: Steps to SuccessAFter all the hard work ofwriting a business plan,securing funding, hir-ing employees and purchasinginventory, you are finally open forbusiness. Now what? The follow-ing steps will put you on a pathtoward success.Revisit Your PlanThe first step to grow your busi-ness is to understand it, and thebest way to understand it is torevisit your business plan. Whatis your businesss mission?What are its core values? Whatare the short- and long-termgoals? Dothey align with the mission? Tobe successful, your businesssmission must guide its growth.What is your businesss currentfinancial and market position?How do your products orservices differ from others onthe market? What are your profitor loss mar-gins? Do they triggercash-flow problems? Whatcycles does your market exhibit,and what kind of growth canyou expect? Are there any majortrends in customer behavior?Keeping up to speed with yourbusiness and its market willhelp position you for success.Know Your CompetitionIdentify the best business inyour field. What makes themexcel? How does your busi-ness compare? By examiningcompetitors strengths, you canpinpoint what sets them apart.Look for ways to incorporatetheir best practices.You should also look at com-petitos weaknesses. Are theyignoring markets or neglectingcustomer needs? Findopportunities they areoverlooking and takeadvantage of them.BUSINESS BEGINNINGSEmbassy of the United States of America

2. ThePlan-As-You-GoBusinessPlanForeword By Bestselling Author GuyKawasaki Simplify the Business PlanProcess Create a Plan That GrowsWith Your Business Tailor a Plan to Your Company Develop A Quick-Hitting Set ofPriorities Avoid Business Mistakes andPitfalls Simplify An OverwhelmingProcess Build As Your BusinessDevelops Demystify the BusinessPlanning Process Ignore Traditional Cookie-Cutter Plans Save Time and Resources Take Total Control of YourBusinessTimBerryPrinciple Author ofBusinessPlan ProThe Countrys Bestselling Business PlanSoftware 3. SCHOOL OFBUSINESSADMINISTRATIONA Lifetime of Integrityoffers several masters of business and masters of Sciencement. In addition to 11 MBA programs, the school alsoDesigned to provide an excellent education that ad-dresses the demands of todays world, Loyolasundergraduate programs in businessadministration prepare you for the modernbusiness environ-degrees, dual-degree masters programs, an executive MBA,customi-zable executive programs, and graduate certificateprograms.The curriculum stresses traditional oral and writtencommunication skills, as well as competence with the latestinformation technology that links businesses worldwide. Youll alsogain a foundation in 10 knowledge areas and four Values Across theCurriculum through the Universitys Core Curriculum.Values are an integral part of the Loyola experience, which isinspired by the Jesuit tradition of educating the whole person. Weascribe to an educational philosophy that emphasizes socially respon-sible decision making and leadership, integrated curricula, global andcultural perspectives, and experiential learning. explains AbolJailvand, PhD, Dean of the School of Business Administration.As a part of BusinessWeeks 2010 ranking of the top undergraduatebusiness schools, thousands of business majors were surveyed abouthow well their schools teach standard academic specialties. While anumber of Loyolas School of Business Administration programsranked highly, Loyolas ethics specialty is consistently ranked in thetop 10 programs in the U.S.Our aim, says Dean Jailvand, is to provide an education thattransforms students, helping them to not only become tomorrowsbusiness leaders, but also help them become people for others, witha high degree of personal and professional integrity.LOYOLA UNIVERSITY CHICAGO 4. Your Face is aFortune SPALYNN FUNG BEAUTYMirror,MirrorEPhilippe Allouche Allouche Philippe Allouche Biologique Recherche 6Haute CoutureFacial 35,500 Biologique Recherche 180 6 180 196 Philippe Allouche Philippe Allouche BiologiqueRecherche JohnGalliano SPABiologique Recherche PhilippeAllouche 5. 6. FOR THE LOVE OF THE LIBERAL ARTSSAS DONORS SHARE THEIR REASONS FORSUPPORTING THE SCHOOLby Tracey Quinlan DoughertyBetween the two of them, ScottBok, C81, W81, L84, and RoxanneConisha Bok, C81, have launched aninvestment banking firm, renovated anhistoric inn, started a horse farm,published a memoir and raised twochildren. What do they say helpedmake it possible? The intellectualcuriosity they developed in their liberalarts courses in the College. Thats whythey give back to SAS at every chance,supporting everything from a facultychair in the humanities and studentscholarships to the renovation ofBennett Hall and the establishment ofthe Integrated Studies Program (ISP).Through ISP, College students in theBenjamin Franklin Scholars program livetogether in Riepe College House andparticipate in courses specially designedto bring together the humanities, socialsciences and sciences to examine thekey concepts of our world. We dont liketo be narrow in how we give our support,says Scott Bok, a University trustee andformer SAS overseer. If you believe inthe institution you should give them somelatitude. We try to do whatever ourcircumstances allow and touch on asmany aspects as possible.For both of them, the breadth of theliberal arts is whats key. Who knowswhats around the corner? asks RoxanneBok, who was an economics major.This kind of education makes you athinker who can be nimble and adjust.Scott Bok, who majored in politicalscience, echoes this, saying,Whatever your career focus is, youreally ought to have a core educationin things like history, literature,philosophy and art in order tounderstand the world more broadly.The Boks are certainly not alone intheir belief. Time and again donors tothe School have underscored thevalue of the liberal arts to their ownlives, to those of future students, to theUniversity and to society as a whole. 7. ThePlan-As-You-GoBusinessPlanForeword By Bestselling Author GuyKawasaki Simplify the Business PlanProcess Create a Plan That GrowsWith Your Business Tailor a Plan to Your Company Develop A Quick-Hitting Set ofPriorities Avoid Business Mistakes andPitfalls Simplify An OverwhelmingProcess Build As Your BusinessDevelops Demystify the BusinessPlanning Process Ignore Traditional Cookie-Cutter Plans Save Time and Resources Take Total Control of YourBusinessTimBerryPrinciple Author ofBusinessPlan ProThe Countrys Bestselling Business PlanSoftware 8. SCHOOL OFBUSINESSADMINISTRATIONA Lifetime of Integrityoffers several masters of business and masters of Sciencement. In addition to 11 MBA programs, the school alsoDesigned to provide an excellent education that ad-dresses the demands of todays world, Loyolasundergraduate programs in businessadministration prepare you for the modernbusiness environ-degrees, dual-degree masters programs, an executive MBA,customi-zable executive programs, and graduate certificateprograms.The curriculum stresses traditional oral and writtencommunication skills, as well as competence with the latestinformation technology that links businesses worldwide. Youll alsogain a foundation in 10 knowledge areas and four Values Across theCurriculum through the Universitys Core Curriculum.Values are an integral part of the Loyola experience, which isinspired by the Jesuit tradition of educating the whole person. Weascribe to an educational philosophy that emphasizes socially respon-sible decision making and leadership, integrated curricula, global andcultural perspectives, and experiential learning. explains AbolJailvand, PhD, Dean of the School of Business Administration.As a part of BusinessWeeks 2010 ranking of the top undergraduatebusiness schools, thousands of business majors were surveyed abouthow well their schools teach standard academic specialties. While anumber of Loyolas School of Business Administration programsranked highly, Loyolas ethics specialty is consistently ranked in thetop 10 programs in the U.S.Our aim, says Dean Jailvand, is to provide an education thattransforms students, helping them to not only become tomorrowsbusiness leaders, but also help them become people for others, witha high degree of personal and professional integrity.LOYOLA UNIVERSITY CHICAGO 9. FOR THE LOVE OF THE LIBERAL ARTSSAS DONORS SHARE THEIR REASONS FORSUPPORTING THE SCHOOLby Tracey Quinlan DoughertyBetween the two of them, ScottBok, C81, W81, L84, and RoxanneConisha Bok, C81, have launched aninvestment banking firm, renovated anhistoric inn, started a horse farm,published a memoir and raised twochildren. What do they say helpedmake it possible? The intellectualcuriosity they developed in their liberalarts courses in the College. Thats whythey give back to SAS at every chance,supporting everything from a facultychair in the humanities and studentscholarships to the renovation ofBennett Hall and the establishment ofthe Integrated Studies Program (ISP).Through ISP, College students in theBenjamin Franklin Scholars program livetogether in Riepe College House andparticipate in courses specially designedto bring together the humanities, socialsciences and sciences to examine thekey concepts of our world. We dont liketo be narrow in how we give our support,says Scott Bok, a University trustee andformer SAS overseer. If you believe inthe institution you should give them somelatitude. We try to do whatever ourcircumstances allow and touch on asmany aspects as possible.For both of them, the breadth of theliberal arts is whats key. Who knowswhats around the corner? asks RoxanneBok, who was an economics major.This kind of education makes you athinker who can be nimble and adjust.Scott Bok, who majored in politicalscience, echoes this, saying,Whatever your career focus is, youreally ought to have a core educationin things like history, literature,philosophy and art in order tounderstand the world more broadly.The Boks are certainly not alone intheir belief. Time and again donors tothe School have underscored thevalue of the liberal arts to their ownlives, to those of future students, to theUniversity and to society as a whole. 10. ThePlan-As-You-GoBusinessPlanForeword By Bestselling Author GuyKawasaki Simplify the Business PlanProcess Create a Plan That GrowsWith Your Business Tailor a Plan to Your Company Develop A Quick-Hitting Set ofPriorities Avoid Business Mistakes andPitfalls Simplify An OverwhelmingProcess Build As Your BusinessDevelops Demystify the BusinessPlanning Process Ignore Traditional Cookie-Cutter Plans Save Time and Resources Take Total Control of YourBusinessTimBerryPrinciple Author ofBusinessPlan ProThe Countrys Bestselling Business PlanSoftware