The document outlines 5 steps to freedom in business: 1) Developing a solid business plan; 2) Creating a unique selling proposition and guarantee; 3) Creating a break-even plan; 4) Implementing a sales management system; and 5) Creating a tactical marketing plan. It then discusses each step in more detail and provides additional steps like developing a team building system, employee acquisition plan, and comprehensive exit strategy. The overall message is that following these steps can help business owners increase profitability, build an amazing team, and free up their time by avoiding common business failures.
4. Out of every 100 independently owned small
businesses, 90% will fail within ten years because:
Source: SCORE - Counselors to America’s Small Business www.score.org
– 78% lack a solid business plan
– 73% are being overly optimistic
about sales
– 77% are not pricing their products
or services properly
– 70% don’t recognize or ignore their
weaknesses and don’t seek help
The Plight of Entrepreneurs…
7. Current Business
Plan
Business plan to forecast your cash-flow, determine your working capital requirements, and
calculate your ability to pay back debt and make a profit for investors.
USP and
Guarantee
Unique Selling Proposition and a Guarantee so that your ideal clients/customers feel
compelled to do business with YOU instead of your competitors because you're different
than all the rest.
Break-Even Plan Plan to cut costs just enough to stop the bleeding while also driving sales to cover your
salary and a minimum number of expenses and start paying back debt.
The 5 Steps to Business
Freedom
8. Sales
Management
System
High performance sales force by scripting their approach, coordinating their activity with
the right CRM (customer relationship management) software solution, measuring their
activity, and tying their results to their paycheck.
Tactical
Marketing Plan
Aggressive, measurable marketing plan to increase your leads, improve your sales closing
ratio, increase your average spend per transaction, and increase the transactions you get
per customer every year so your profits increase exponentially.
Team Building
System
System for understanding personality differences and how to improve communication by
understanding the psychological profile of your team members.
The 5 Steps to Business
Freedom
9. Employee
Acquisition Plan
Plan to consistently generate more than enough leads on high quality employees by
deploying multiple recruitment strategies to market for employees in unusual ways.
KPI System Key Performance Indicator system that measures and reports the key activities in the
business so everyone knows how their efforts are either making or breaking the business.
Performance
Incentive Plan
Incentive package for your team members that motivates them to work as hard in the
business as you do and care about it like it was their own.
Cash Gap Plan Plan to quickly collect outstanding receivables, get your customers to pay on time, and
improve your terms with vendors so that your bank account always has plenty of cash in it.
The 5 Steps to Business
Freedom
10. Time Management
Plan
Default calendar where you've got the most important things blocked into
your calendar as an appointment with yourself that you always keep and then
hold you accountable to do it.
Strategic Plan Strategic plan that clarifies the vision, mission, and values of the team as well
as the long and short-range goals so everyone's on the same page and pulling
together.
The 5 Steps to Business
Freedom
11. Apprenticeship Plan Plan to identify the low-value tasks that you don't like doing anyway and train team
members to do them for you so you can focus on the things that make you money.
Comprehensive Exit
Strategy
Plan to identify the current value of the business, quickly enhance the value, develop a
marketing plan to identify either internal or external prospective buyers, and get the best
price for the business.
Leadership
Development Plan
Plan to identify and intentionally develop emerging managers and leaders, incentivize their
long-term commitment with a profit-sharing plan and lay the ground work for your
eventual succession.
The 5 Steps to Business
Freedom
12. Two ways you can go…
Keep trying to improve
your business on your
own…
Do what every winner
does: invest in their
own education with the
help of a coach…
13. How to Contact Me
• Alan Ginsberg
• 707-762-1619
• aginsberg@esourcecoach.com
Notes de l'éditeur
3 Step Start
Either/Or Question: “Where are my business owners in the room? Business owners raise your hands right up high! Excellent. Non-business owners? Hands up high! Excellent! Those who WISH they were non-business owners sometimes!?! Fantastic” [laughter…]
Thanks/Congratulations: “My name is ____ and I want to thank you for investing your time to be here today/tonight and also want to congratulate you for being here. A wise man once said that if you lose some money you can always get it back, but when your time is gone, it’s gone forever. I promise to reward your investment of time today/tonight by pouring myself out to share with you what we’ve discovered to be the most powerful approach to increasing your business profitability, building an amazing team, and freeing up your time through small business ownership and it’s a concept called the 5 Steps to Freedom through Business…
Earn the Right:“So, first a little bit about myself and [The Entrepreneur’s Source/AdviCoach/Business Partner] and what we do as the Coaches of Entrepreneurs and for those who dream of becoming one…
Te top five business dangers facing entrepreneurs are:
Poor Leadership Skills
Under Performing Sales
Ineffective Marketing
Lack Human Capital Management
Financial Mismanagement
As a E-Source Coach® you will help business owners identify these dangers though weekly coaching sessions. Our coaching methodology provides business owners with information and education that helps them to discover how to best achieve results in their business. You will guide business owners to move beyond these common dangers and focus on growing the value of their business.
Studies conducted by SCORE (service corp of retired executives) affirm that 90% of businesses will fail within the next 10 years for these four reasons.
[Read the 4 bullet points]
As a result, business owners are working more hours and making less profits. As a matter of fact 45% of all independently owned business will fail within 24 months of birth.
Just read the slide
1. “On my own” - if this is what you choose, than we wish you all the best and we sincerely hope that you’ll reach a place or prosperity and freedom on your own because your family, employees, customers and vendors are count on you. On your way out feel free to sign up for your complimentary coaching session and other gifts we have for you at the back for attending today.
2. “Interested” - see one of our coaches after the event to discuss your situation and see which coaching program or educational resources will work best for you. We’ll review the details of the coaching program in depth and help you get started right away.