how your small business can succeed

How to survive the big entrepreneurial lie

Presented by:Reg Gupton, MBA

Creative Growth Seminars1919 14th, Suite 805

Boulder, CO 80302www.businesssuccessvideo

[email protected]

800.418.0401

mailto:[email protected]

Reg Gupton, 303.544.0340, [email protected], businesssuccessvideos.com

How did you decide to begin your business?

An Entrepreneurial SeizureDoing technical workReal good at itFor someone else.


Fatal assumption

If you understand the technical work of a business, you understand a business that does that technical work

The technical work of a business and a business that does that technical work are two totally different things!


The technician suffering from an Entrepreneurial Seizure turns the work he loves into a bad job.


Every small business owner is:

The EntrepreneurThe Manager(a.k.a., The Boss)The Technician


The Entrepreneur

Lives in the futureThe innovator, grand strategistCreator of new marketsExtraordinary need for controlSupreme need for changeRapidly outdistances those around himSurrounded by the sound of dragging feet.


The Manager (a.k.a., The Boss)

The pragmatistBrings order, planning andpredictabilityLives in the pastCompulsively clings to the status quoSees problems everywhereBuilds a house and lives in it forever.


The Technician

The ultimate doer“If I want it done, I have to do it yourself”Lives in the presentHappiest when working but only on one thing at a timeThinking isn’t work, it just gets in the wayOnly interest - how to do itVerges on stubborn


The typical small business owner

10% Entrepreneur-Wakes with a vision

20% Manager-Screams “Oh no”

70% Technician-while the battle rages

Goes into business for himself


Your Success Blueprint

• Describe what your company does• What you sell• How you sell it• Who you sell it to

• What is your philosophy towards your customer

• How have your methods of doing business changed since your started your company.



• What is your vision for your business• 6 months• 1 year• 3-5 years• 10 years• What is your biggest strength• What is your biggest weakness.



• Describe your ideal customer• What is the biggest customer

complaint about your industry?• What are you doing about it?• What are you doing to catch up?.


Three phases of Business Growth

• Infancy• Adolescence• Maturity


Infancy

• The owner and the business are one and the same thing

• You believe, there is no one like you• You are the best• You love and live it• Then you start falling behind• Infancy ends when the owner realizes that

it can not go on like it has been.


If you are a technician

It is complicated, frustrating and eventually

A Demeaning Job.

The purpose of going into business is to get free of a job so you can create jobs for others.


Adolescence

• Begins when you realize that you need some help• It is inevitable• What kind of help will you seek?

• Hire team• full • part time

• Consultant• Technical help• Management by Abdication.


Only three choices

• Get small again• Go for broke• Adolescent survival

• fighting day to day• same battles• same way• never change.


Maturity

• The third phase• Start as Mature Companies• Totally different perspective• The Entrepreneurial Perspective?


The Entrepreneurial Perspective

Tom Watson


What is this perspective?

• How does it look?• How does it act?• How does it do what it is supposed to

do?• How must the business work?• A system for producing outside results

- for the customer• Begins with a picture the future.


The key questions

• Where do I wish to be?• When do I wish to be there?• How much capital will it take?• How many people, doing what work,

and how?• What technology is required?• How large a space will be needed?

When?.


Your most important asset

Great, educated, discriminating, loyal customers


What are your current sources of business?

RepeatReferralsCold CallsMedia AdsPast customer referralsWeb Site.


Your ideal customer??

• Demographics• who?

• Psychographics1

• why?.

• 1 The characteristics of an target audience based on its values, beliefs and attitudes.


The Five Gates of Customer Selection

1. Can you satisfy their basic business needs? (at a profit)

2. Can you meet with the key decision maker?3. Are they qualified? (really)4. Are their time frame expectations real?5. Do they have a similar value system?.


Your Most Fertile Field

• Current Clients/Customers• Past Clients/Customers• Friends/Acquaintances.


What is your USP?

• What makes you special in the marketplace?

• What do you have that your competitors don’t - or can’t provide?

• What is special about your products/service?

• How or why is your delivery faster?• What makes your talents or management

skills better?.


• What is it about your service that sets you apart from your competition - specifically?

• Why should anyone buy from you, rather than others in the marketplace?.

What is your USP?


Be aware and afraid

Most low price leaders go out of business while trying to provide high levels of service.


What is a system?

A set of things, actions, ideas, and information that interact with each other, and in so doing, alter other systems.


The key is in the system!

Hard systemsHow to fill out formsHow operate to machines

Soft systemsSelling systemInformation System.


Information System - calling

• How many calls were made• How many prospects were reached• How many appointments were scheduled• How many appointments were confirmed• How many appointments were held• How many needs analysis presentations

were scheduled.


Information System - direct mail

• How many piece sent were made• How many calls received• How many appointments were scheduled• How many appointments were confirmed• How many appointments were held• How many needs analysis presentations

were scheduled.


Selling system

• Scripting of the words• Creation of the collateral materials• Memorization of scripts or talking

points• Delivery of script• Leave them alone.


Power Selling System

• Appointment presentation• Needs analysis presentation• Solutions presentation.


Your touchstones for the future

• Supplier/Vendor of Choice• Focus on actual source of

business• Use of the web

•e commerce•build your list•sell something•on line brochure


Your touchstones for the future

• Automate your business with a digital databases

• Target Marketing• Computer literate - Web/e mail• Understand your customers• Value-added vs. price• Use Relationship Marketing/Selling• Form strategic alliances.

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Help is at hand

When you are ready to move forward and implement proven strategies that can help you utilize the techniques discussed, call 303.544.0340 for a business assessment before it is too late.