Growing Your Small Business

to the next Level

1

Kapil KanugoTwitter: @kapilkanugo

Goals

Take a new look at your company Provide a vision for the future Define tips for success Understand foundation building Get the ball rolling Tips and tools to improve the process

2

Times Are a Changin’

“A competitive world has two possibilities for you. You can lose. Or, if you want to win, you can change.”

Lester C. Thurow Educator

Competition Consolidation Pricing pressures Expectations

Companies Clients

3

Why Are We Here?

Business Owners Responsibilities

You Family Employees Employees families

Only work 1/2 days - Which 12 Hrs? How are you going to spend your time

4

More…

People of Character do the right thing not because they think it will change the world, but because they refuse to be changed by the world

Michael Josephson Pursuit of Excellence What mark are you making? Are you running in place? What is the difference between you and

those that “made it” in this industry?

5

What does it take?

Opportunity Attitude Aptitude Great Staff Vision Market

opportunities Cash

6

Reality

“Opportunity is frequently over looked because it is typically dressed in overalls and looks like hard work”

Strong leadership Desire to succeed Commitment to excellence Clear vision Focus Reinforcement and recognition Proactive measurements and information

7

The Opposite of Success

Top line revenueProfits at the expense of

cash flowProfits without quality lifeBeing tied to your business

with little free timeReactive business

8

Success Defined Working on your business Being in control of your time Doing what you want when you

want Cash freedom Living within your means Proactive business that works

synergistically to achieve goals Empower your staff and upward

mobility9

Your BusinessA tool to fulfill your life’s

ambitionsLivelihood for your

familyLivelihood for

employees familyA service to your

community10

How Big Do You Want to Be?Why?

Retirement - what does it takeDo you want to work again?General financial freedomWhat will you do?

IncomeRelevancePride or the challenge

11

Are You Ready?

You are discontent with current situation

You have a strong staffYou are willing to invest

financially and with time You have market opportunities

12

Your OptionsGrow

Necessity Fits your opportunity, staff and

expectationsStay the same

DesireGoalsFits your opportunity, staff and

expectationsGet out and work for someone else

13

Success in Restoration

A realistic schedule Solid performing team Effective cash management Profitable operations A proactive business working toward

shared goals Motivated team working for mutual

success Consistent performance Strong & positive company culture Examples…

14

Resources

Cash Staff Facilities Contacts A plan

15

If You Are Not Ready

Create an action plan to get where you want

Get outSellJoint ventureClose it down and take a

job16

Really?

What is the cost of your business and what is the price?

What is your value in the market?

Take a critical look and be honest

17

Where To Start?

“Begin with the end in mind”Thomas Watson - IBM

Create a saleable business Network and gain a vision of what it can be Write down in great detail what your

company will be Identify your team Create and action plan and start to

implement - EXECUTION! Build on quality, service, excellence and

value

18

Strategy

The principle is simple:  (1) create a dream that is so big that it will keep you excited, (2) define the dream in minute detail, (3) live in the dream so that it becomes real to you on the inside, (4) and then hold on to it so tightly that no one can take it away from you. 

Partnership Issues, leadership and responsibilities

Where are you going? Build it on paper first Measurements and information Positions and responsibilities People on the bus Define vision Create strategy

19

First Step

Who is going to run your company?

Honest personal assessment Review your staffLook outsideKnow your personal

strengths and weaknesses

20

Characteristics of an Effective Leader

"America is too great for small dreams." Ronald Reagan

Positive Proactive Good planner Able to see the big picture Good communicator Leadership traits

21

Partnership Issues

Clear Job descriptions and responsibilities

Exit plan - contractually Positions based on abilities - Focus

on “fit” Titles are important Compensation based on position Goal alignment

22

Execution

Long term vision with short term victories

Action plan Assigned duties and

expectationQuantifiable measurements Annual review

23

What to Expect

Change is dynamic - things happen

Make take several years - focus on the big picture

Go as far as you can see…Cost will be high but…Some staff may not make itMaintain focus

24

Summary

Decide what you will doCreate a plan for your

companyAssemble your staffCommunicate your planCreate a strategyObtain resourcesAssess your plan

25

Thank You

26