Coaching for Small Business Success

1. Coaching for Small Business Success Helping an Entrepreneur Be the Best They Can Be

2. Overview of Entrepreneurial Coach Training Program It has bothered me all my life that I don’t paint like everyone else. Henri Mattise, French painter

3. Unique Concepts of Training Program • Systematic process to assist entrepreneurs with business idea • Hands-on, team process • Real-time coaching • Innovative techniques • Real-world examples • Worksheets • Lemonade stand

4. Unique Concepts of Training Program • Focus on small “lifestyle” entrepreneurs • Work with entrepreneurs in any type of business • Entrepreneur expands own vision of business model • Become proficient in coaching skills

5. Comments from Past Participants • “I’ve assisted start-ups for years, and this process has cut launch time by as much as 70%.” • Community economic development facilitator • “The information, the delivery, the class interaction, the passion and professionalism of the instructors; this is by far the best leadership development training I’ve received in the 30 years I’ve worked in corporate America.” • Fortune 500 company field representative

6. Overview of Training Program • Coaching skills • Business success factors • Areas of importance to business concept : • Product/ Competencies • Customers/ Markets • Planning/ Marketing • Competition/ Alliances • Financials/ Funding • Operations/ Management • Strategic Issues/ Communications

7. Overview of Training Program • Coaching skills • Business success factors • Areas of importance to business concept : • Product/ Competencies • Customers/ Markets • Planning/ Marketing • Competition/ Alliances • Financials/ Funding • Operations/ Management • Strategic Issues/ Communications • Evaluating Potential Products • Defining Your Target Market • Researching Your Market

8. Determining Core Competencies Core competencies are the hallmark of the organization; the driving forces of competitive strategy and competitive advantage. J. Thomas McIntire Three Sigma, Inc. Executive coaching business

9. Determining Core Competencies • Areas of expertise distinctive to you, and central to how company operates. • Provides basis for competitive advantage • Not product or service specific • Can contribute to many end products • Answers the question- “Why me”

10. Determining Core Competencies • Core competencies can take on several forms • Technical know-how • Unique process • Close relationship with customers/suppliers • Business culture, such as employee dedication

11. Determining Core Competencies • Examples • Honda • Small gas engine technology • Sony • Miniaturized electronics technology • Federal Express • Logistics networks Relevant to customer desires Wide variety of markets Number of end products Difficult to imitate

12. Using Core Competencies to Build Your Business • Entrepreneurs often wrapped up in product they sell; hard to think in terms of strongest assets and abilities of business • Allows development of whole new set of products/services • Sunflower Model

13. Sunflower Model Core Competency What do you do well, better than anyone else? Products and Markets How many markets & applications can you think of where it might fit? Underlying Assumptions What key assumptions is your business based on? from Rob Ryan, Smartups

14. How to Develop a Sunflower Model • Analyzing core competencies • What makes you you? • What you do really well • Your area of expertise • Your unique strength • A skill, NOT a product from Rob Ryan, Smartups

15. How to Develop a Sunflower Model • Possible products and markets • Once core determined, any number of possible products/ services to sell • Each petal a salable product from Rob Ryan, Smartups

16. How to Develop a Sunflower Model • Understanding underlying assumptions • What assumptions are your business based on • What would happen if this assumption would prove incorrect from Rob Ryan, Smartups

17. Sunflower Model • A Case study:

18. down the street with a lot of grandkids that visit often. Clemor’s father has a professional job, and his mother is a stay-at-home mom. Clemor is cute, has an outgoing personality and easily talks to other kids and adults alike. He seems to have a certain level of ambition, maybe more so than most kids his age. His mother has time to help and support him, and his father is very interested in Clemor learning some business management skills through this entrepreneurial venture. In addition, over the years, his mother has developed a unique lemonade recipe, with some “secret” ingredients. Clemor has learned to make this recipe. It’s more expensive than a simple powdered lemonade, but the family all really likes it. Clemor is an elementary school-age boy who lives on the corner in a relatively affluent, large subdivision. He is one of very few kids his age in the subdivision, which is populated with mostly 45-60 year old families. There is one couple

19. Developing a Sunflower Model • Help Clemor develop a sunflower model for his lemonade stand

20. s • Core Competency: • What makes you you • What you do really well • Your area of expertise • Your unique strength

21. For More Information • Our products • Training programs from 1-4 days, tailored to fit unique needs of clients • Who to contact Melony Denham ECI Marketing melony01@windstream.net (606) 563-6291 Kim D Strohmeier ECI Instructor kimdstrohmeier@gmail.com (502) 750-2107