empowering conscious entrepreneurs. impact entrepreneur toolkit
TRANSCRIPT
Empowering Conscious Entrepreneurs
IMPACT ENTREPRENEURTOOLKIT
Small Business Stage Assessment
Stages of Small Business GrowthG
row
th in
Cap
acity
, Co
mpl
exity
and
Impa
ct
Time
5
4
3
2
1
Incubation Phase
Start-upPhase
StablePhase
GrowthPhase
The “Plateau”
Stagen calls this“Scrambling”
It is excitingand messy
Getting the business safely off the ground
The time it takes to develop
the idea
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Instructions
Complete the Assessment first as a way to confirm your intuition about which stage your business is in
Following the assessment you will find four separate “Conscious Business Toolboxes”
A few of the tools are repeated in each toolbox because they are equally useful at every stage
Each toolbox has two tools (one aimed at a Checkpoint and a second supporting an Accelerator) that are especially helpful for that stage (yet could be useful for businesses at other stages)
Many tools are self-explanatory while a few have tool-specific instructions to help you get the maximum value
Enjoy!
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
If you have not yet completed these milestones, then it is unlikely that you have completed the Incubation Stage
The details of the products and services are clear
A viable business model has been fleshed out (on paper)
First product / service offer is sketched out in some detail
Funding or initial community of customers is established
If you have completed these, then you may have moved into the Start-up Stage.
Small Business Stage Assessment
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@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
If you have not yet completed these milestones, then it is unlikely that you have completed the Start-up Stage
Early customer relationships established
Infrastructure is in place
Initial product development and market testing is complete
Adequate funding in place (or cash flow from sales)
You have one or more “transformational” products or services
Clear purpose is being translated into impressive results
If you have completed these milestones, then you may have moved into the Stable Stage
Small Business Stage Assessment
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@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
If you have not yet completed these milestones, then it is unlikely that you have completed the Stable Stage
There is a strong, consistent demand for your products/services
Your product / service has achieved “proof of concept”
Your business model is working
The company has sustainable economics
Product portfolio is expanding with innovation and success
You have a solid customer base with brand loyalty
Happy customers are spreading products through word of mouth
You have a core team of engaged, loyal partners/employees
If you have completed these milestones, then you may have moved into the Growth Stage
Small Business Stage Assessment
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@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
If you have not yet completed these milestones, then it is unlikely that you have completed the Growth Stage
Business model is tuned and humming
Significant revenue growth
Big opportunities and challenges coming at an accelerating pace
Strong and growing demand for products and services
Healthy, sustainable cash flow allows you to make big investments
Organizational governance in place with aligned team
You have a well-documented Service Model (S.O.Ps)
Teams accomplish big results following established systems
If you have completed these milestones, then you may be ready to move beyond the Growth Stage and start scaling
Small Business Stage Assessment
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Stra
tegy
Road
Haz
ards
Chec
kpoi
nts
Strategy is how your business is going to achieve it’s purpose in the world
Checkpoints represent the major “developmental milestones” that your business will need to complete at each stage as a prerequisite for moving to the next stage
Acce
lera
tors
87%
CHECKPOINT
Investors Products
Pricing
Staffing
Culture
Marketing
Technology
Accelerators are tactics that work well at that stage to grow your organizational capacity and your results more quickly
The Four Small Business Growth Factors
Road Hazards are the most common problems that businesses encounter at that stage that you must avoid
Stra
tegy
Road
Haz
ards
Chec
kpoi
nts
Incubation Stage Roadmap
Get inspired and remain connected to deep purpose Create an elegant launch plan for quick start-up Deeply understand WHO you’re helping, and HOW you’ll do so
A transformational product/service that inspires people Enough courage and faith in the idea to experiment and get feedback Start-up funding along with significant sweat and heart investment
Solid business plan / business model well-vetted by experts First public offer sketched out Funding or initial community of customers tapped into
Acce
lera
tors
The founder has “blinders” on; doesn’t listen to outside perspectives Naivety results in insufficiently detailed concept/ business model Procrastination, fear or insecurity prevents founder from putting the idea
(and initial product offering) out there to be tested and get feedback
87%
CHECKPOINT
Investors Products
Pricing
Staffing
Culture
Marketing
Technology
Stra
tegy
Chec
kpoi
nts
Start-Up Stage Roadmap
Courageous and decisive leadership energizes the organization Develop inspired and creative/innovative product/service offerings Strong marketing plan results in cash flow (which is fuel) Build momentum quickly to bolster team and supporter enthusiasm
Focus energy on growing revenue and emphasize productivity Absolute clarity on your “customer avatar” and dial in your branding and
marketing to be resonant with their worldview Short product launch cycles, lots of feedback iterate quickly and adapt
Adequate funding in place or cash flow from sales to allow momentum You have one or more “transformational” products or services that deeply
serve your customers with a meaningful impact in their life Clear purpose is being translated into decisive action & impressive results
Negative cash flow. Under capitalized Poor product quality (or problems with it that can’t be easily solved) No or limited relationship with market and customer avatars Founder burns out from solo responsibility, or founding team falls apart
CHECKPOINT
Investors Products
Pricing
Staffing
Culture
Marketing
Technology
Road
Haz
ards
Acce
lera
tors
87%
Stra
tegy
Chec
kpoi
nts
Stable Stage Roadmap
Establish sustainable economic foundation Consistently serve people and deliver value Focus on marketing and product creation
Attract and invest in talented people to co-create business with you Create strong marketing infrastructure to build relationships Invest in growth (technology, staff, outsourcing, advertising)
Product portfolio expanding, with innovation and success Achieve solid ‘customer base’ through brand loyalty Happy customers spreading products through word of mouth
Staying too long on the plateau can cause organization to stagnate Major strategic miscalculation leads to demand drying up Business becomes complacent and marketplace leaves it behind Founder loses interest - the business dies from “infant death syndrome”
CHECKPOINT
Investors Products
Pricing
Staffing
Culture
Marketing
Technology
87%
Road
Haz
ards
Acce
lera
tors
Stra
tegy
Chec
kpoi
nts
Growth Stage Roadmap
Concentrate on growing revenue within core business Empower team members with responsibility AND authority Take calculated risks investing in high-leverage growth tactics Stay fast and flexible; “dynamically steer”
Strong and growing demand for products and services Healthy, sustainable cash flow Organizational governance in place with aligned team
High leverage marketing strategies such as joint ventures or affiliates Use outsourcers who can do many of the detailed tasks inexpensively Leverage an online and mobile-based collaborative project management
tool to expedite communication and maximize organizational productivity
Business struggles to grow beyond its founder(s) because they are unable or unwilling to share responsibility and authority
Lack of delegation, leadership team stretched too thin Fast decision-making leads to unquestioned assumptions and big mistakes
CHECKPOINT
Investors Products
Pricing
Staffing
Culture
Marketing
Technology
87%
Road
Haz
ards
Acce
lera
tors
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Evaluating Six Organizational Capacities
In this section, you will be introduced to the six major “organizational capacities” that enable your small business to grow, mature, and progress to subsequent stages.
Small Business Capacity
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Organizational Capacity
Small Business Capacity
Think of these capacities as the “multiple intelligences” or “lines of development” of your company. Each of these area will have increasing capacity as your business matures.
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Meaning
Small Business Capacity
• Impact entrepreneurs “start with why” and draw inspiration and strength from “answering the call” to have a positive impact in the world
• This meaning orientation attracts and keeps both team members and customers engaged over the long term
Have you clearly identified your company’spurpose? Do your stakeholders(partners, employees, customers,vendors) resonate with that sense ofmeaning? What might expand this senseof meaning? _________________________________________________________________________________________________________________________________________Rate your business’ current capacity in this area:_____ (a number between 0 and 10)
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Leadership
Small Business Capacity
•Conscious leadership is one of the four a “pillars” of conscious capitalism•Learning “Integral Leadership” gives impact entrepreneurs and conscious advocates an enormous advantage•By understanding about people’s needs and motivations, integral leaders are far better equipped to positively influence change for the greater good
How strong would you characterize yourleadership capacity? Are your partnersand team members highly engaged andmotivated? How might you expand yourleadership capacity? ___________________________________________________________________________________________________________________________________Rate your business’ current capacity in this area:_____ (a number between 0 and 10)
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Transformational Products & Services
Small Business Capacity
• Conscious entrepreneurs create and deliver products and services that enrich the lives and transform the perspectives, experience and capabilities of their customers.
• Good examples include coaching and consulting services, impactful educational programs, empowering software and tools, and even information products such as onlinecourses
Do your products/services make ameaningful positive impact in yourcustomers’ lives? What is “transformed”when using your products/services? Howmight you expand this capacity?_________________________________________________________________________________________________________________Rate your business’ current capacity in this area:_____ (a number between 0 and 10)
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Advocacy & Relationship Building
Small Business Capacity
• Understanding your customer (market research, avatars, customer problems and goals) is key to success
• Advocacy is the key to bringing yourperspective and approaches to the world ona larger scale
• Relationship building is how you find,connect, and help the people you aretrying to help
How well do you understand yourcustomer? What do you believe in?What can you be an advocate for? Do youhave a “relationship funnel” and activelycultivate it? _______________________________________________________________________________________________________________________________________Rate your business’ current capacity in thisarea: _____ (a number between 0 and 10)
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Strategy & Execution
Small Business Capacity
• Conscious entrepreneurs use integral perspectives to find and leverage opportunities that less aware competitors overlook
• They prioritize their initiatives and projects toachieve maximum leverage. Success depends oncareful project planning followed by disciplinein delegating, tracking and managing projectsto completion
• Personal productivity is crucial,including focus, attentionmanagement, task managementand collaboration
How strong is your strategy? How effective isyour execution? Your project management?Do you stay focused on the most importantthings each week? How might you expand thiscapacity? _________________________________________________________________________Rate your current capacity in this area:_____ (a number between 0 and 10)
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Operations & Finance
Small Business Capacity
• Operations and finance represents the health of the processes and infrastructure of your organization.
• This health is cultivated by thoughtful"org structure,” intelligent work processdesign, and clearly articulated teamexpectations.
• Impact entrepreneurs must managefinances diligently and have a strategy for funding growth
How strong is your capacity to manageyour operations? How disciplined is yourfinancial management? Are you tending tothe processes and systems that your businessneeds to thrive? How might you improve?_____________________________________________________________________________________________________________________Rate your business’ current capacity in this area:_____ (a number between 0 and 10)
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Signal Light Analysis
This “Signal Light Analysis” tool enables you to subjectively evaluate those areas of your business in which you can move ahead confidently, those areas that you should proceed with caution, and the areas where you may be stuck and need some help.
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Instructions
The following slides offer a “Signal Light Analysis” enabling you to subjectively evaluate those areas of your business in which you can move ahead confidently, those areas that you should proceed with caution, and the areas where you may be stuck and need some help.
Following that, there is the “Roadmap” slide that lists all of the major strategies, checkpoints, accelerators and road hazards for this stage of small business growth. If this is YOUR stage, then pay extra attention to these details, and try to use every tool provided. If this is not your stage, you still may find some of the tools useful (at minimum, informative).
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
In What Ways Are You Moving Ahead Confidently?
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
In What Ways Are You Proceeding with Caution?
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
In What Ways Are You Stopped?
“Signal Light” Analysis of Your BusinessList key areas of your business and the “signal light” indicators for each
Area of Our Business Move Forward with Confidence
Proceed with Caution and Careful Consideration
We are stopped and need help getting unstuck
Milestones to Complete Your Current StageRefer to the provided roadmap for your current stage of business. Put the relevant “checkpoints” from the map here along with the other major goals that you know you need to accomplish this year for your business to progress
CHECKPOINTS
Your next action you need to take toward this milestone Name of Milestone
@2014 Conscious Business Coalition Use with permission granted as long as attribution is given
Accelerators and DeceleratorsDrawing inspiration from the roadmap for your current stage, list the relevant accelerators from the map here along with the other ideas you have to boost your business performance. Next list the things that are currently slowing you down.
List Ways You Can Boost Performance
List the Things That Are Slowing You Down
87%
2014 Opportunities and DangersUse this worksheet to brainstorm the opportunities and dangers that you are currently aware of at this stage of your business. Then discuss these with your key stakeholders to get input
Opportunities to Increase Our Success Obstacles, Pitfalls and Other Dangers
Conscious Business Canvas
We Believe
We Exist to
We Believe
Our Purpose
We Help
We Help Solve Our TransformationalProducts and Services
We Benefit Our Relationship Funnel
We Love We Connect
Our Operating Model Our Stakeholders
Our Sustainable Costs Our Sustainable Revenue
v.1.0
What do you believe about what is happening, what is important and needed, and what action should be taken?
Who do you help? What problems do you help them solve? How specifically do you help them solve those problems?
Describe the people you most love to help (your ideal customers). Describe your 3-4 primary “Customer Avatars” (in terms of demographics and psychographics)
Describe your core offering(s). What (or how) do you help your customer actually transform? How is your “transformational” offering unique or distinct from available “transactional” alternatives?
List the top ways you benefit your customers. These benefits must be specifically tied to the problems your customers want to solve (and are willing to pay for).
Where do you find and connect with the people that you love to help? How do they learn about your advocacy (what you believe)? How do they find out about the unique benefits that your help offers? If they are looking for help, how do they go about it, and where do they search?
You want to leverage your finite resources wisely by minimizing waste and inefficiency, and maxizing sustainability.1. What are the total costs to develop your transformational products and services? 2. What are the total costs to deliver them? (Variable costs per unit and all fixed overhead) 3. What are the total costs you incur to acquire a new customer relationship (in your funnel)?
Revenue is the fuel that your business uses to help your customers and to grow more capable. 1. What are your current (core) sources of revenue? 2. What are your secondary or potential future sources of revenue? 3. If you are using investment capital (or favors such as free labor) to fuel your growth currently, what is your breakeven point where you become fully self-sufficient and sustainable? 4. What is your Gross Margin? (Revenue minus COGS)
Our purpose is ______________. We are passionate about _____and use our gifts of __________to have a meaninful contribution in the form of _______________
Describe the levels in your funnelExposure to your advocacy
Initial (Free) Engagement with You
First Low-Cost Value Exchange with You
Core Product/Service Purchase
Loyal and Repeat Customers
Most Intimate Customers (Investing the most time/money with you)
Describe how you operate. These are all the key activities your business must do to thrive. What core organizational competencies can you leverage? What can you outsource or partner with others to get done.
List all your stakeholders. This is everyone (and everything) that may be impacted (positively or negatively) by your ongoing operations.
v.1.0
Conscious Business Canvas
We Believe
We Exist to
We Believe
Our Purpose
We Help
We Help Solve Our TransformationalProducts and Services
We Benefit Our Relationship Funnel
We Love We Connect
Our Operating Model Our Stakeholders
Our Sustainable Costs Our Sustainable Revenue
v.1.0
Type answers here…. Type answers here….
Type answers here….
Type answers here….
Type answers here….
Type answers here….
Type answers here…. Type answers here….
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Describe the levels in your funnelExposure to your advocacy
Type answers here….
Initial (Free) Engagement with You
Type answers here….
First Low-Cost Value Exchange with You
Type answers here….
Core Product/Service Purchase
Type answers here….
Loyal and Repeat Customers
Type answers here….
Most Intimate Customers (Investing the most time/money with you)
Type answers here….
Type answers here…. Type answers here….
v.1.0 Company / Venture __________ Your Name _____________
Reflection Questions
What stage is my business currently in? What flows easily for me and which areas do I
feel stuck in or struggle to acomplish? Which parts of my “platform” are in place and
which ones are still missing or underdeveloped?
What would unlock growth in my business? Where might I get more leverage? What is holding me back? (examples:
mindsets, habits, lack of resources, lack of clarity, lack of energy?)
Reflection Questions - Answers
Type here….