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From Idea to Reality
Glenn Davis
Risks vs. Calculated Risks


                    Almost all decisions in life
                    are made with imperfect or
                    incomplete information.

                    THE DECISION TO
                    BECOME AN
                    ENTREPRENURER
                    IS NO DIFFERENT!
Be Passionate

                • Most important trait to
                being successful is
                passion.

                • Passion about the
                products or services you
                provide has a significant
                impact on your ability to
                persevere during tough
                times.
The Importance of a Salesperson


                    • You need to be a
                    salesperson, or that needs
                    to be your first hire.

                    • In the majority of start-
                    up’s “Shoe leather” is
                    always better than money
                    for attracting sales.
The Plan “B” Fallacy

                   • Plan B’s allow you to feel
                   ok if you don’t succeed.

                   • Humans naturally take the
                   path of least resistance.

                   • Not having a Plan B forces
                   you to go the extra mile and
                   not give up when challenges
                   feel overwhelming.
Inspiration / Recharging

                      • Family and Friends are
                      concerned about your well
                      being and not likely to tell you
                      to jump out on your own.

                      • Every business owner will
                      have multiple times where
                      they feel the world is caving
                      in on them.

                      • Entrepreneurial peer
                      groups and inspirational
                      media are great resources.
Have Confidence In Your Abilities


                     • Sometimes you have to
                     go after an opportunity
                     when it’s presented “ready
                     or not”.

                     • Trust in your
                     determination and ability
                     to deliver when your backs
                     against the wall.
Out of the Box & Out of Your Mind Thinking


                        Sometimes great
                        opportunities exist,
                        but have to be
                        approached from a
                        unique angle.
Secrets to Building
a Killer Team
Kevin Kordek
Building a Killer Team

 • Pest Control is not “glamorous”
 • Pest Control is not “Sexy”
 • Very Stereo-typed Employee Profile
 • Unique Challenges in Recruiting
 • Unique Challenges in Retention
We have Created a “New Norm”!
“Begin with the
 end in mind.”
           ~ Stephen Covey
Define the mission of the “Team”

  • Sales?

  • Customer Service?

  • HR?

  • Whole Company?
Psychometric Profiling testing

 • Can be a useful tool for screening applicants.

 • Can be useful for identifying leadership traits.

 • Useful benchmarking tool for job ability.

 • Not 100%

 • Based on knowledge of job requirements.
Building a Killer Team

  • Do you know what the ideal ‘Team” member
    looks like?
  • Do you know them when you meet them?



    “The key to building a killer team is knowing
         what and who you are looking for.”
Job Security

 • Build an entrepreneurial culture (ownership).

 • Reward excellence publicly.

 • Allow the “Team” to grow with the company.

    • Ask “why” more than telling them “what” or “how”.

    • Ask them what they would do if it were up to them.

    • “The best way to help an employee see their future
      is to let them be a part of it”.
How do measure results?

 • How does the “Team” know when they are hitting
   their “Team” goals?
 • Who holds the Team accountable?

 • How often?
      Pavlov…Stimulus-Response Theory
 • What are the consequences?
Mediocrity is the enemy of greatness!

 • Do you reward mediocre performance?

 • Do you promote from within?

 • Do you train, lead and support for greatness?

 • Do you share your vision of the future?

 • Do your employees see themselves as a part of
   a killer team?
Standing Out From
the Crowd
Eric Brown
My Challenge



• Declining business because     • Increase in competition and
  of the internet/email            rapid growth in industry
• Low barrier to entry in        • High barrier to entry and
  business creating many           longer sales cycle
  competitors                    • Decision process in
• Decision process in choosing     choosing a fulfillment
  a courier company faulty         company faulty
Competing on Price - Unsustainable



        Proposal      Proposal




        $100.00       $95.00
Fewer             Hire People
  Cheapest             Lower            Resources           For Less &
                                                           Accept Lower
   Price               Profits          To Service
                                                             Standards
                                        Customer




    Lower           Inconsisten           Lower              Value
   Standards         t Service –        Retention          Propositio
equals harder to
manage People
                        Lose            of People           n Left:
                    Customers                              Price, not
                                                            Service

Lack of Profit Depletes Passion & Ability To Offer Great Service or Products
Red Ocean                               Blue Ocean

•Compete in existing market space         •Create uncontested market space
•Beat the competition                     •Make the competition irrelevant
•Exploit existing demand                  •Create and capture new demand
•Make the value/cost trade-off            •Break the value/cost trade-off
•Align the whole system of a              •Align the whole system of a
company’s activities with its strategic   company’s activities in pursuit of
choice of differentiation or low cost     differentiation and low cost
• Figuring out our Hedgehog (again) is on going process and takes
  time; not something you can do 2 hours in a coffee shop.
• Started this process in January 2008, then again in 2011 – Took key
  people out of the business for 2 days for planning session
• SWOT Analysis (Strengths, Weaknesses, Opportunities & Threats)
• 4-5 months ago had key staff read Good to Great together and discuss
  in weekly Managers Meetings
• Great @ and Profitable @ - Discovered.
• Hit a mental wall. What am I truly passionate about?
• Kept searching and constant reflection
• My Turning point
• 4 months ago
• Saw an inspiring video to lead
  me to change (Simon Sinek,
  Author of Start with Why)
• One of my mentors introduced
  me to someone that had a
  similar challenge of:
    • Competing in a Red Ocean
    • Figuring out what makes
      money
    • Stepping outside of the
      competition
Create a movement, not a mission statement

•People Buy Based On Why, Not What or How
Those That Led With Why Compared To Competitors Who Didn’t

                      VS     Most Airlines
                      .

                     VS      Samuel P. Langley
                     .

                      VS
                      .
• If you don’t know what your why is, how will you get
  those to buy in or develop loyalty?

• Sell to those who believe as you believe (Your Why)

• Goal to hire people who believe as you believe – will
  get more committed Team
• How will your why help others?
     Why?                                    • What is your purpose or reason for
                                               existing
                                                        To help our clients build a
                                                        great ecommerce business
                                                        and creating great experiences
                                                        for their customers
               By Outsourcing The Experience of
                                                                    Survey Customers about their package,
   How         Servicing Their Customers, Our Clients
               Can Focus on Their Why. This allows         What     Branded materials, Technology,
                                                                    Automation, etc.
               them to become great.

Jack Welch/GE: If you can’t be number 1 or 2 (best in the world at), stop doing it.
• Who will you bring on to
                              build an organization

     Who?                     based on your why?
                            • What values does your
                              company have to attract
                              the right kind of TEAM?
Good to Great: First Who,   • What is your culture like?
Then What
• This is the beginning
                     • Know your Why and
Communicating Your     following through takes
     Why               discipline – Lettuce Test
                     • Do your people know Why?
                     • Do you have people who
                       believe in the Why?
                     • Story about an experience
                       where they didn’t
• If your people don’t know
  the why, how do you
  expect them to take care of
  your client properly?
• Giving your people the
  ability to think and act
  based on your why
• Primarily Two Types of
                       people in Organizations –
Why Vs. How People     Why and How People
                     • Fewer Why People
                     • Why people need How
                       people – Many ‘Why’ fail in
                       life – why?
                     • ‘How’ people get things done
                     • Walt & Roy Disney
Companies That Had
Lost Sense of Their Why
Attract or     Attract
                Hire People                   Help Them
Start With                    Clients That
                Who Believe                   With Their
   Why                        Value Your
                In The Why                     Business
                                  Why




                                Get
Build A Great    Creating                    No Competition
Relationship                  Referrals      as long as your
                 Raving
 With Your                    and Grow       client believes
                  Fans
    Client                      Your          in Your Why
                              Business
Internet:
Video of Simon Sinek: http://www.youtube.com/watch?v=qp0HIF3SfI4
Good to Great: http://www.jimcollins.com/media_topics/hedgehog-concept.html#audio=79
Where to Go From Here?
Stephanie Downs
Why Want to Be An Entrepreneur?

“Be my own boss!”

“Do things MY way!”

“More flexible schedule.”

“Achievement and self fulfillment.”
My Journey


                       Partial Exit



1999       2003           2006         2008       2009   2012


       Exit Planning                  Full Exit
How To Exit

• Decide on the End Goal


• Run the Numbers


• Map Out the Journey
Ways to Exit

 • Shut It Down
Ways to Exit

 • Shut It Down


 • Sell the Business
Ways to Exit: Selling

 • Your #2

 • Employees

 • Family / Friend

 • Outside Party
Ways to Exit

 • Shut It Down


 • Sell the Business


 • Replace Yourself
Ways to Exit: Replace Yourself

• It Is Possible

• But Be Selective

• Won’t Happen Over Night

• Set Milestones

• Pay on Performance
Eo inside business event 2012

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Eo inside business event 2012

  • 1. From Idea to Reality Glenn Davis
  • 2. Risks vs. Calculated Risks Almost all decisions in life are made with imperfect or incomplete information. THE DECISION TO BECOME AN ENTREPRENURER IS NO DIFFERENT!
  • 3. Be Passionate • Most important trait to being successful is passion. • Passion about the products or services you provide has a significant impact on your ability to persevere during tough times.
  • 4. The Importance of a Salesperson • You need to be a salesperson, or that needs to be your first hire. • In the majority of start- up’s “Shoe leather” is always better than money for attracting sales.
  • 5. The Plan “B” Fallacy • Plan B’s allow you to feel ok if you don’t succeed. • Humans naturally take the path of least resistance. • Not having a Plan B forces you to go the extra mile and not give up when challenges feel overwhelming.
  • 6. Inspiration / Recharging • Family and Friends are concerned about your well being and not likely to tell you to jump out on your own. • Every business owner will have multiple times where they feel the world is caving in on them. • Entrepreneurial peer groups and inspirational media are great resources.
  • 7. Have Confidence In Your Abilities • Sometimes you have to go after an opportunity when it’s presented “ready or not”. • Trust in your determination and ability to deliver when your backs against the wall.
  • 8. Out of the Box & Out of Your Mind Thinking Sometimes great opportunities exist, but have to be approached from a unique angle.
  • 9. Secrets to Building a Killer Team Kevin Kordek
  • 10. Building a Killer Team • Pest Control is not “glamorous” • Pest Control is not “Sexy” • Very Stereo-typed Employee Profile • Unique Challenges in Recruiting • Unique Challenges in Retention
  • 11. We have Created a “New Norm”!
  • 12. “Begin with the end in mind.” ~ Stephen Covey
  • 13. Define the mission of the “Team” • Sales? • Customer Service? • HR? • Whole Company?
  • 14. Psychometric Profiling testing • Can be a useful tool for screening applicants. • Can be useful for identifying leadership traits. • Useful benchmarking tool for job ability. • Not 100% • Based on knowledge of job requirements.
  • 15. Building a Killer Team • Do you know what the ideal ‘Team” member looks like? • Do you know them when you meet them? “The key to building a killer team is knowing what and who you are looking for.”
  • 16. Job Security • Build an entrepreneurial culture (ownership). • Reward excellence publicly. • Allow the “Team” to grow with the company. • Ask “why” more than telling them “what” or “how”. • Ask them what they would do if it were up to them. • “The best way to help an employee see their future is to let them be a part of it”.
  • 17. How do measure results? • How does the “Team” know when they are hitting their “Team” goals? • Who holds the Team accountable? • How often? Pavlov…Stimulus-Response Theory • What are the consequences?
  • 18. Mediocrity is the enemy of greatness! • Do you reward mediocre performance? • Do you promote from within? • Do you train, lead and support for greatness? • Do you share your vision of the future? • Do your employees see themselves as a part of a killer team?
  • 19. Standing Out From the Crowd Eric Brown
  • 20. My Challenge • Declining business because • Increase in competition and of the internet/email rapid growth in industry • Low barrier to entry in • High barrier to entry and business creating many longer sales cycle competitors • Decision process in • Decision process in choosing choosing a fulfillment a courier company faulty company faulty
  • 21. Competing on Price - Unsustainable Proposal Proposal $100.00 $95.00
  • 22. Fewer Hire People Cheapest Lower Resources For Less & Accept Lower Price Profits To Service Standards Customer Lower Inconsisten Lower Value Standards t Service – Retention Propositio equals harder to manage People Lose of People n Left: Customers Price, not Service Lack of Profit Depletes Passion & Ability To Offer Great Service or Products
  • 23.
  • 24. Red Ocean Blue Ocean •Compete in existing market space •Create uncontested market space •Beat the competition •Make the competition irrelevant •Exploit existing demand •Create and capture new demand •Make the value/cost trade-off •Break the value/cost trade-off •Align the whole system of a •Align the whole system of a company’s activities with its strategic company’s activities in pursuit of choice of differentiation or low cost differentiation and low cost
  • 25.
  • 26. • Figuring out our Hedgehog (again) is on going process and takes time; not something you can do 2 hours in a coffee shop. • Started this process in January 2008, then again in 2011 – Took key people out of the business for 2 days for planning session • SWOT Analysis (Strengths, Weaknesses, Opportunities & Threats) • 4-5 months ago had key staff read Good to Great together and discuss in weekly Managers Meetings • Great @ and Profitable @ - Discovered. • Hit a mental wall. What am I truly passionate about? • Kept searching and constant reflection • My Turning point
  • 27. • 4 months ago • Saw an inspiring video to lead me to change (Simon Sinek, Author of Start with Why) • One of my mentors introduced me to someone that had a similar challenge of: • Competing in a Red Ocean • Figuring out what makes money • Stepping outside of the competition
  • 28. Create a movement, not a mission statement •People Buy Based On Why, Not What or How
  • 29. Those That Led With Why Compared To Competitors Who Didn’t VS Most Airlines . VS Samuel P. Langley . VS .
  • 30. • If you don’t know what your why is, how will you get those to buy in or develop loyalty? • Sell to those who believe as you believe (Your Why) • Goal to hire people who believe as you believe – will get more committed Team
  • 31. • How will your why help others? Why? • What is your purpose or reason for existing To help our clients build a great ecommerce business and creating great experiences for their customers By Outsourcing The Experience of Survey Customers about their package, How Servicing Their Customers, Our Clients Can Focus on Their Why. This allows What Branded materials, Technology, Automation, etc. them to become great. Jack Welch/GE: If you can’t be number 1 or 2 (best in the world at), stop doing it.
  • 32. • Who will you bring on to build an organization Who? based on your why? • What values does your company have to attract the right kind of TEAM? Good to Great: First Who, • What is your culture like? Then What
  • 33. • This is the beginning • Know your Why and Communicating Your following through takes Why discipline – Lettuce Test • Do your people know Why? • Do you have people who believe in the Why? • Story about an experience where they didn’t
  • 34. • If your people don’t know the why, how do you expect them to take care of your client properly? • Giving your people the ability to think and act based on your why
  • 35. • Primarily Two Types of people in Organizations – Why Vs. How People Why and How People • Fewer Why People • Why people need How people – Many ‘Why’ fail in life – why? • ‘How’ people get things done • Walt & Roy Disney
  • 36. Companies That Had Lost Sense of Their Why
  • 37. Attract or Attract Hire People Help Them Start With Clients That Who Believe With Their Why Value Your In The Why Business Why Get Build A Great Creating No Competition Relationship Referrals as long as your Raving With Your and Grow client believes Fans Client Your in Your Why Business
  • 38. Internet: Video of Simon Sinek: http://www.youtube.com/watch?v=qp0HIF3SfI4 Good to Great: http://www.jimcollins.com/media_topics/hedgehog-concept.html#audio=79
  • 39. Where to Go From Here? Stephanie Downs
  • 40. Why Want to Be An Entrepreneur? “Be my own boss!” “Do things MY way!” “More flexible schedule.” “Achievement and self fulfillment.”
  • 41.
  • 42. My Journey Partial Exit 1999 2003 2006 2008 2009 2012 Exit Planning Full Exit
  • 43. How To Exit • Decide on the End Goal • Run the Numbers • Map Out the Journey
  • 44. Ways to Exit • Shut It Down
  • 45.
  • 46.
  • 47. Ways to Exit • Shut It Down • Sell the Business
  • 48. Ways to Exit: Selling • Your #2 • Employees • Family / Friend • Outside Party
  • 49. Ways to Exit • Shut It Down • Sell the Business • Replace Yourself
  • 50. Ways to Exit: Replace Yourself • It Is Possible • But Be Selective • Won’t Happen Over Night • Set Milestones • Pay on Performance

Notas do Editor

  1. ----- Meeting Notes (5/22/12 11:02) ----- Every one knows what they do, Some know how they do it, but few know why they do it.
  2. Started MK in 1999 Height of dotcom - $$$ 28 yr old / had everything ever wanted – just not enough Enjoyed mkt but had another passion
  3. Started MK in 1999 Height of dotcom - $$$ 28 yr old / had everything ever wanted – just not enough Enjoyed mkt but had another passion