Boutique Private Equity Firm Sycamore Partners Break Even Point Microsoft Corporation QT Net Income In Millions ORDINARY BEHAVIOR EXTRAORDINARY BEHAVIOR 1.Crisis 2.Loved One 3.Compelling GOAL! 1.Vision, Mission, Values 2.Objectives and Goals 3.SWOT 4.Strategic Plan 5.Operating Plan 6.Budget 7.Financial Projections 8.Evaluation Strategic PlanCompelling GOAL! A Small Business Exists for the Benefit of Its Owner Passion versus Potential If you dont like change, youre going to hate extinction! About half of all business decisions end in failure. - Dr. Paul Nutt, The Ohio State University Three Common Blunders 1.Rush to Judgment 2.Misuse Resources 3.Failure Prone Tactics versus... Decision Process Clearly articulate the change, and quickly follow with examples... TELL and SHOW! A wise man knows when to get into business, a wiser man knows when to get out. Optimism of Entrepreneur Reality of Data Democrat VERSUS Republican THINK like a Republican, but ASK like a Democrat 1.They live well below their means 2.Allocate, time, energy, & money efficiently to build wealth 3.Financial independence more important than status 4.Their parents did not provide financial outpatient care 5.Their children are economically self- sufficient 6.They are proficient in targeting market opportunities 7.They chose the right occupation... Small Business In the final analysis it is not what you do for your children but what you have taught them to do for themselves that will make them successful human beings. - Ann Landers Summary... 1.Make the Hard Decisions 2.Create Compelling GOALS Strategic Planning 3.Be Open to the Necessity of Change 4.Develop YOUR Decision Process(es) 5.Clearly Articulate When Change is Necessary 6.Know When to Quit 7.Develop a Balance of Optimism and Reality 8.Know the Difference Between Invested and Wasted Dollars 9.Know the Methods of Wealth Creation 10.Have Fun! Great People & Good Ideas = Sustainable Businesses
