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Strategies for Growth and Partnering
Growing With Your Company And
Your Partners
Where am I Taking You?
We’re going to look at you and your company in a different light! Will it be small or will it be big? Will it be “you” or will it be “the company”? Will you be in charge or will someone else? Will your company be broad-based or focused? Who are your competitors and who are your
partners?
We’re going to look at partners – corporate and business. Yes, some day you’ll need a partner! Approach each partnership as if it were a
marriage! Honest and up-front is the name of the game!
What Will We Learn?
Have a plan from the very beginning
Redefine and Refine the plan as you go
Always know what your are and where you’re planning on going
Know your strengths AND weaknesses
You’re always on the sell
Why Should You Listen to Me? Michael Kelly/President and Founder of
RiverNorth Systems of Minnesota
Founded in 1998 Grown in Revenues from $250K to ~$1M in
2001; 1 employee to ~10 in 2001 Transitioned from “single shingle” into a
company with rent, payroll, budget cycles, partners, an Advisory Board, a Board of Directors and a Business Plan.
Daily growing pains – still! But now, we know how to solve them
What Type of a Company are You Building? Single Shingle, Lone Ranger, Solo Act,
Lifestyle Company
Fast Track, Corporate Race, Rat Race, Conglomerate, Industry Heavy Weight
Something in Between
Take the Time to Plan. Your Growth Depends on it!
Will Your Company Be Small or Big?
Characterize size by: Customer Base
1, 10, 100, 1000 Customers? Industry Breadth
Vertical or Horizontal within Your Industry?
Sales/Marketing Reach Campaigns, Word of Mouth, Networking
Required Resources Capital, Financial, Human
Think of the Plan!
Will Your Company be You or More Than You? Sole Proprietorship
Only manage yourself! You direct the company, You make the
decisions You reap all the benefits (Profits) You’re limited to your potential You make all the decisions You do everything (work, finances, windows)
Think of the plan!
Will Your Company be You or More Than You? Partnership or More
Your potential is higher! You don’t have to make all the decisions You don’t have to do everything There’s more to manage Your decisions are not always final You don’t have total control anymore
Think of the Plan!
Will Your Company be You or More Than You? There are different “mind sets” for
each approach (Individual vs. Corporate)
If you’re a company – Think like a company
If you’re a individual – Think like an individual
Think of the Plan!
Who’s Running This Show Anyway? Do You Have the “Right Stuff” Would it Matter if You Didn’t?
NO – as long as the “right” people are in place Think Seriously About All Positions in Your
Company Don’t Feel Obligated to ANY Position in Your
Company Find the “Right” fit in all positions!
Think of the Plan!
What is Your Company’s Niche?
Horizontal or Vertical? Determine Target Industries Determine Customer Base
Focused or Broad?
Think of the Plan!
Corporate Expertise
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Who Are Your Competitors?
What’s the Big Deal? We Owe it to our customers to be competitive
Rates, Quality and Integrity You could lose business without even
knowing it Competitive Intelligence is a Healthy and
Smart Business Practice. Leverage your competitors!
Think of the Plan!
Who Are Your Strategic Partners? Types of Company Partners
Vendors Channel Suppliers
Be Careful! Be sure of where your company is going Insist your partners know where they’re going
It’s amazing how fast company vision and direction change given enough money – it’s called short sightedness.
Think of the Plan!
Choosing Company Partners Avoid Overlapping
Services/Products/Value Establish Ground Rules
Competitive Boundaries Compensation/Referrals
Know your business partner’s mission, goals and objectives
Think of the Plan!
Do’s and Don’ts of Growth and Partnering Do
develop and write a Business Plan Business Type Company Size Company Officers Value Proposition/Niche Partners Marketing/Sales
Think like the company you want to be
Do’s and Don’ts of Growth and Partnering
Do Choose Partners that will
Produce “Win-Wins” Have Integrity Be Competitive
Don’t be Afraid to Think Out of the Box
RiverNorth Systems, Inc.
Michael Kelly/President/CEO
www.rivernorthsys.com
952-953-0635
