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Transitioning from Corporate America to Entrepreneurial Enterprise
Michelle R. Dawson, PhDPresident
INTRODUCTIONS
•Your name•Where are you from?•Why you are in the program?
Who is Catalyst Enterprises International?
• Organizational Development Firm• Target Market
– Nonprofit organization– Small – Medium size established businesses
• Services provided– Operations systems– Strategy development– Talent Management
THE JOURNEY
• Education• Work Experience• Transition from corporate to entrepreneurial
venture
THE INTERNAL TRANSITION
• Belief that this is my purpose
• Belief in my talent and skills
• Belief that other will see my services as valuable
• Overcome fears
THE EXTERNAL TRANSITION
• Research market needs
• Financial preparation
• Determine pricing structure
And the day came when the risk it took to remain tight inside the bud was more painful than the risk to it took to blossom.
-Anais Nin
ImprovedPerformance
Exceeding ExpectationsYour Formula For Success
PositiveBehaviorChange
ImprovedPerformance
Exceeding ExpectationsYour Formula For Success
No one, Eleanor Roosevelt said, can make you feel inferior without your consent. Never give it.
MyGoals
PositiveBehaviorChange
ImprovedPerformance
Exceeding ExpectationsYour Formula For Success
Knowledge
MyGoals
PositiveBehaviorChange
ImprovedPerformance
Exceeding ExpectationsYour Formula For Success
Skills
Knowledge
MyGoals
PositiveBehaviorChange
ImprovedPerformance
Exceeding ExpectationsYour Formula For Success
Attitudes
Skills
Knowledge
MyGoals
PositiveBehaviorChange
ImprovedPerformance
Exceeding ExpectationsYour Formula For Success
Attitude is a little thing that makes a big difference.
Winston Churchill
CRITICAL SUCCESS FACTORS
• Target market • Market mix
• Strategic plan
• Mentor/coach
• Action plan with measurements
CHALLENGES FACED IN CURRENT ENVIRONMENT
• Limited resources available due to economy
• Training budget first to get cut within companies
• Reactive vs. Proactive Mode
IMPROVE CASH FLOW
Increase Sales Volume Increase Price Reduce Costs
Increase Usage by Existing Customers
Attract Competitors Customers
Convert Non-Users
Add New Products
Improve Sales Mix
Improve Prices
Cut Operating Costs
Reduce Financial Cost
•Innovate. Offer new, related products/services•Focus on future; Be ready for market rebound
•Rework marketing message for this target market•Advertise in different placements
•Rework marketing message to differentiate Yourself from competition•Explore low cost way to spread your message
•Keep advertising, increase PR & networking•Offer discounts•Add value instead of lowering price •Add value; Don’t lower prices
•Shed marginal business•Focus on your strength
•Line item review of cash flow•Info systems (tracking & expense, etc.)•Compare cost w/industry benchmarks
•Make drastic cuts, shed marginal business•Negotiate better rates (suppliers, media buys etc.)•Re-evaluate labor intensive tasks/ for simplification
•Manage inventories carefully•Renegotiate loan terms•Get financial house in order•Borrow smartly
HOW TO HANDLE CHALLENGES
• Re-evaluate your unique value proposition (UVP)
– What is unique about your business versus competitors?
– Which of these factors are most important to your prospects?
– Which of these factors are most difficult for your competitors to imitate?
– Which of these factors can be most easily understood by your prospects?
HOW TO HANDLE CHALLENGES
• Understand what motivates your prospect– Gain or benefit
– Avoid a loss
– Solve a problem
WHY SET GOALS?
If you don’t know your destination, how will you know when you have arrived?
We all have two choices: We can make a living or we can design a life
MEASURING YOUR GOAL SETTING SUCCESS
Setting a goal is not the main thing. It is deciding how you will go about achieving it and staying with that plan. –
Tom Landry
IMPORTANCE of WRITING GOALS
• Written goals force you bring the idea into reality
• Written goals, that we look at often, make us feel better about our life
• Written goals force us to be accountable
Summary
• Find your passion
• Internal and external preparation
• Set clear goals
• Anticipate roadblocks
THANK YOU FOR YOUR PARTICIPATION
73 Greentree Drive #322Dover, Delaware 19904
Website: www.Catalystenterprise.comToll Free 1.866.403.5779