strategic duck. small business impact on the economy positives negatives categories not included
TRANSCRIPT
STRATEGIC DUCKSTRATEGIC DUCK
SMALL BUSINESS IMPACT on the ECONOMY
POSITIVES
NEGATIVES
CATEGORIES NOT INCLUDED
REASONS FOR BUSINESS FAILURELACK OF:• FINANCIAL SKILLS & KNOWLEDGE• MARKETING SKILLS & KNOWLEDGE• HANDS ON WORKING BUSINESS PLAN• ACCOUNTABILITY
REASONS FOR THE GROWTH OF SMALL BUSINESS
• DESIRE TO OWN A BUSINESS• RECENT ECONOMIC DOWNTURN• LACK OF “SURVIVAL PAYING” JOBS• NO AVAILABLE WORK• RETIREES CAN’T SURVIVE
TEACHERS ARE THE BACKBONE OF SMALL BUSINESS !
4 PARTS TO BUSINESS SUCCESS:
• THE START
• THE BUSINESS PLAN
• THE MARKETING PLAN
• IMPLEMENTATION
+ ACCOUNTABILITY
THE IMPORTANCE OF DISCIPLINE
HOW TO START A BUSINESS
• A SMALL BUSINESS IS THE PERSON WHO STARTS IT
• 1ST OUTWARD LOOK: PRODUCT/SERVICE
• 2ND OUTWARD LOOK: IDENTIFY TARGET MARKET
• 3RD OUTWARD LOOK: TAKING PRODUCT/SERVICE TO MARKET
VALUE-BASED STRATEGIC FOCUS PLAN
COMPONENTS• VALUES• PERSONAL/BUSINESS HISTORY• MISSION• VISION• STRENGTHS & WEAKNESSES• OBJECTIVES• GOALS• STRATEGY• OPPORTUNITIES• RESOURCES• RISKS & THREATS• MAKING IT HAPPEN
THE MARKETING PLAN
STEP 1. BUSINESS REVIEW STEP 2. IDENTIFYING PROBLEMS & OPPORTUNITIES STEP 3. SALES OBJECTIVES STEP 4. TARGET MARKET STEP 5. POSITIONING STEP 6. IMPLEMENTATION TOOLS STEP 7. RESOURCES STEP 8. EXECUTION STEP 9. ACCOUNTABILITY
CHARACTER: THE ABILITY TO CARRY ON AFTER THE MOOD HAS LEFT YOU