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Welcome To
6 Steps To Grow Your Business in a Difficult
EconomyPart 1
Welcome To Welcome To
6 Steps To Grow Your 6 Steps To Grow Your Business in a Difficult Business in a Difficult
EconomyEconomyPart 1Part 1
Your presenter: Chris Edwall• Education: BSEE, MSEE, MBA
• 25 years of business experience – half in Fortune 200 companies, half in small business; 15 years in machine tools
• President or General Manager of 6 businesses ranging in size from $4M to $350M.
• Success in turnarounds, high/no growth
• Owned 5 businesses, started 3 of them
“I now have a much stronger personal vision & plan. I know more about myself, values, personality type, and goals. The coaching
process has improved my delegation effectiveness, time management, and planning. Chris has done a great job.”
Dan Janka, President, Mag & Chairman of AMT
A little bit about…
• We are the “World’s No.1 Business Coaching Team”
• More than 1,200 Coaching Offices in 26 countries world-wide …
• We coach over 10,000 small businesses per year across US, Canada, Mexico, UK, Australia, New Zealand, and Asia
Increase sales and profits
Free up your time
Create an amazing team
Show you a systematic, proven way to build your business and:
My purpose today…
OwnershipAccountableResponsible
BlameExcusesDenial
Above or Below the Line …
Formula for Life/Business Abundance...
Action’s Formula for CHANGE
(D x V) + F > RDissatisfaction
VisionFirst StepsResistance
The Entrepreneur Ladder
EmployeeEmployee11
InvestorInvestor55Owner/LeaderOwner/Leader44ManagerManager33
EntrepreneurEntrepreneur66
Self EmployedSelf Employed22
Most business owners have a ...
Definition of a Business ...A Commercial,
Profitable, Enterprise –that Works –
without YOU ...Remember to work Remember to work ‘‘ONON’’ your business your business not just not just ‘‘ININ’’ your your
business ...business ...
Top 10 MistakesMade by Small Business Owners
10. Lack of leadership
9. Poor hiring practices
8. Lack of systems/processes
7. Wasting marketing $
6. Competing on price / No USP
5. Lack of planning
4. No financial budget
3. Poor time management
2. Behaving "below the line"
1. Burn out - no FUN!
Six Steps to Massive Results…MASSIVE
RESULTS
ResultsSynergyTeam
LeverageNiche
Mastery From Chaos to Control
Predictable Cash Flow
Systematize for Efficiency
Structure for Growth
Well Oiled Machine
Multiplication or Acquisition
Stability
Cash
Time
Happiness
Diversification
Freedom
MASSIVE
RESULTS
ResultsSynergyTeam
LeverageNiche Predictable
Cash Flow
Systematize for Efficiency
Structure for Growth
Well Oiled Machine
Multiplication or Acquisition
Stability
Cash
Time
Happiness
Diversification
Freedom
Mastery From Chaos to Control
Six Steps to Massive Results…
Mastery: from Chaos to Control
The key to Mastery…
($1,000,000)
($500,000)
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Revenue
Fixed Costs
Total Expenses
Net Profit
Variable Costs
Are you budgeting for profit?
Are you budgeting your time?
Delivery MasteryDelivery Mastery• There is no use turning on
the tap if the plug is left out
• Time to clean up bottlenecks, complaint areas, and raise basic delivery standards across the board
• It’s all about Delivering with Consistency
Are you delivering consistently?
Destination Mastery Destination Mastery ......
• Be, Do, Have
• Above & Below the Line
• Change Formula
• Goal Setting
• Planning Process
MASSIVE
RESULTS
ResultsSynergyTeam
Leverage
Mastery From Chaos to Control
Systematize for Efficiency
Structure for Growth
Well Oiled Machine
Multiplication or Acquisition
Stability
Cash
Time
Happiness
Diversification
Freedom
Niche Predictable Cash Flow
Six Steps to Massive Results…
Definition of a Niche ...
Unique Selling Proposition
WhatWhat’’s your point of s your point of difference?difference?
Innovators2.5%
EarlyAdopters
13.5%
EarlyMajority
34%
LateMajority
34%Laggards
16%
Time
Perc
enta
ge o
f Ado
pter
sHow do we eliminate price competition?How do we eliminate price competition?
A Successful USP is…• Truly unique • Exciting to your target
market• Something that will get
people talking• Something that can’t be
easily copied, or if it can be, it will be an obvious rip-off on the part of the offending business
Communicating Your Niche…
Other Key Marketing Concepts
• Defining your target market• Marketing as an expense vs.
an investment• Testing & Measuring• Acquisition Cost• Lifetime Value
The ActionCOACHBusiness Chassis…
• This is a powerful business-building concept...
• You can use the same CHASSIS to build either a Ford Contour or a Jaguar X…
Number of LeadsNumber of Leadsxx
Conversion RateConversion Rate==
CustomersCustomersxx
# of Transactions# of Transactionsxx
Avg. $$$ SaleAvg. $$$ Sale==
RevenueRevenuexx
Profit MarginsProfit Margins==
$Profit$$Profit$
Let’s put in some numbers ...Number of LeadsNumber of Leads
xxConversion RateConversion Rate
==CustomersCustomers
xx# of Transactions# of Transactions
xxAvg. $$$ SaleAvg. $$$ Sale
==RevenueRevenue
xxProfit MarginsProfit Margins
==$Profit$$Profit$
400400xx
25%25%==
100100xx22xx
$10,000$10,000==
$2,000,000$2,000,000xx
25% 25% ==
$500,000$500,000
With just a 10% increase...Number of LeadsNumber of Leads
xxConversion RateConversion Rate
==CustomersCustomers
xx# of Transactions# of Transactions
xxAvg. $$$ SaleAvg. $$$ Sale
==RevenueRevenue
xxProfit MarginsProfit Margins
==$Profit$$Profit$
400400xx
25%25%==
100100xx22xx
$10,000$10,000==
$2,000,000$2,000,000xx
25% 25% ==
$500,000$500,000
440440xx
27.5%27.5%==
121121xx
2.22.2xx
$11,000$11,000==
$2,928,020$2,928,020xx
27.5% 27.5% ==
$805,255$805,255
That’s a 46% increase in your
revenue ...
Quoting Warren Buffett ...
“It is not necessary
to do extraordinary things to get extraordinary
results.”World famous investor
World’s 2nd wealthiest man$48 Billion net worth
For FUN… what if 50%?Number of LeadsNumber of Leads
xxConversion RateConversion Rate
==CustomersCustomers
xx# of Transactions# of Transactions
xxAvg. $$$ SaleAvg. $$$ Sale
==RevenueRevenue
xxProfit MarginsProfit Margins
==
$Profit$$Profit$
600600xx
38%38%==
225225xx33xx
$15,000$15,000==
$10.1 million$10.1 millionxx
38%38%==
$3.8 million$3.8 million
400400xx
25%25%==
100100xx22xx
$10,000$10,000==
$2,000,000$2,000,000xx
25% 25% ==
$500,000$500,000
A plan for success…• Step 1 What are your current
5 Ways? What are your goals?
• Step 2 Tune up your current strategies!
• Step 3 Roll out some new strategies!
• Step 4 Systematize the strategies that work the best
• Step 5 Review quarterly
Six Steps to Massive Results…MASSIVE
RESULTS
ResultsSynergyTeam
LeverageNiche
Mastery From Chaos to Control
Predictable Cash Flow
Systematize for Efficiency
Structure for Growth
Well Oiled Machine
Multiplication or Acquisition
Stability
Cash
Time
Happiness
Diversification
Freedom
Questions?
Email: [email protected]
Or call (513) 368-5375
Request the 5 Ways Strategy List, USP Questionnaire, or Assessment
Questionnaire
Re-listen or Download Slides at www.amtonline.org/archive
Join us for Part 2 of this Webinar onTuesday, January 19th at 2:00 EST
Help us prepare by answering AMT’s post-webinar survey.