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