STRATEGIC DUCK. SMALL BUSINESS IMPACT on the ECONOMY POSITIVES NEGATIVES CATEGORIES NOT INCLUDED.

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