Learn how to build a successful business

1. 7 Secrets to Building a
Successful
Small Business
We’ll start soon

2. Ask yourself these questions
• Is there a market for my products
and services?
• Is the market big enough?
• Does my stuff solve a problem?
• Can I generate enough revenue?
• Is it profitable?
• Is it a growth industry?

3. Secret #1
Start off With a
Simple Business
Vision

4. Business Vision
• What will your business look like in 3,5,
10 years?
• What do you want to be known for?
• What do you want people to say about
your business? Values, principles etc.
• What’s the perfect business look like to
you?

5. • What’s your exit strategy?
• Do you want to expand it internationally?
• Do you want to leave it to your family?
Decide and develop a strategy to achieve
your goal.

6. Secret#2
You Need a Plan To
Achieve Your Vision

7. Plan
• Set business goals
Write them down
– Time period (1,3,5,10 years)
• Get everybody behind your plan
• Keep your plan short and simple –
max 10 pages

8. Goals Marketing
1.Personal Goals 1.Who is our ideal customer?
2.Business Goals 2.Which customers would we
like more of?
3.Marketing plan (include
weekly to do’s)
Break-even Cash Flow
1.Our income and expense 1.Cash flow forecast
forecast 2.Expense budget
2.Our break-even point

9. Secret #3
Do a SWOT
Analysis

10. Identify Your Strengths
• What advantages do you have
over your competitors?
• What makes your business
unique?
• What do customers identify as
your strengths?
• What problems do you solve
better than anybody else?

11. • List your weaknesses
• Develop solutions to overcome them

12. Identify growth
opportunities
Be aware of the
threats to your
growth

13. Secret #4
Master Marketing&
Sales
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14. Know your market
• What trends are taking place in
your industry?
• Who are your customers?
– What area are they from?
– How much do they buy ?
– How often do they buy?

15. Know Your Market
• What do customers think of your
product or service?
• Who are your competitors?
• How much do they charge?
• How do they market their stuff?
• What are their strengths &
weaknesses?

16. Plan
• Clearly define your target market/s
• Develop a detailed promotional plan
– What marketing tools are you
going to use?
– How will you measure the
effectiveness of your marketing
tools?
– Develop a marketing budget

17. Sales
• Set sales targets
• Develop a lead generation program
– Pick up the phone
– Email potential clients
– Network
– Develop content customers want to read
• Set regular appointments

18. Secret #5
Employ Good
People
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19. People
• Where are the gaps? What people do
you need to grow your business?
• Develop profiles of the ideal candidates
• Get good people with a great attitude
• Outsource if you have to

20. • Develop an operations manual, with your
systems, processes, policy and procedures
• Develop a training plan for your employees
• Focus on results not how many hours they
You can’t work
build a big
• Inspire and motivate them
business
without
systems

21. Secret #6
Know Your
Numbers
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22. • Purchasing strategy
– Who you buying your products and
services from?
– Are you getting the best value for
your money?
• What gross margins are you achieving
– What margins would you like to
achieve?

23. • Income & expense
– Monitor your expense ratios
– Develop expense budgets
– Get a good accountant to guide
you
• Regularly update your cash flow
• Know your monthly and annual
break-even

24. Never run out of money
1.Sales is vanity
2.Profit is sanity
3.Cash flow is reality

25. Secret #7
Use Technology
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26. • Use cloud based software only
• Use email marketing
• Find good technology people
– Outsource
• Develop a great website
• Use free online resources
• Use social media

27. FIND GREAT
MENTORS

28. Never Give up

29. Register for our next webinar
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