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Created with Fabric.js 1.4.5 Lessons Learned Ben Wax From eMyth and inGenius 70% Technician 20% Manager 10% Entrepreneur 33% Entrepreneur 33% Manager 33% Technician 33% Manager 33% Entrepreneur The Average Business Builder The Ideal Business Builder # 1 # 2 The 7 Steps & 7 Questions of the Business Development Process 1. Primary Aim 2. Strategic Objective 3. Organization Strategy 4. Management Strategy 5. People Strategy 6. Marketing Strategy 7. Systems Strategy What do you wish to be? How Will You Measure Success? What Will Each Role Do? How Will You Lead Your Employees? What Will You Teach Your Employees? Who Is Your Target Audience? What Will Your Company Need To Succeed? # 3 The Innovation Engine Explained Attitude Knowledge Imagination Culture Resources Habitat Concept Definition Spark That Guides Innovation Information That Fuels Innovation Ability To Innovate In New Ways Collective Beliefs In Your Community Assets In Your Community Local Environment Where You Live Inner Triangle: Traits Within Yourself Outer Triangle: Traits Within Your Environment Internal External Attitude Culture Counterparts Knowledge Resources Habitat Imagination # 4 Phases of Growth in a Business Infancy Just started out.Business founder does almost everything. Maturity Business understandsits standing andhow to reach its desired goal. Natural Growth Expansion Business grows to more than it can manage.Takes one of 4 options: 1. Get Small Again."Things are too hard this way." 3. Hang In There."If I keep doing the same thing,I might get to a stable point." 2. Go For Broke."If I work really hard, I might get enough $ to be sustainable." 4. Move The Business To Maturity."I need to learn new skillsto better manage my business." ??? OR OR OR # 5 6 Rules For Making Your Business A Franchise 1. Focus on ways to add more value. Rule Reasoning Without constantly exceeding expectations,franchisees won't want to invest in this long term project. 2. Make your model systems-dependent. To be replicable, the franchise must be able to be operatedby people with low skill level. 3. The model must be orderly. Create a system so customers, employees, and managersknow what is happening within the business. 4. Create an Operations Manual. This creates detailed operating instructions and standards of performance to measure against. 5. Make service uniform and predictable. The hallmark of quality is in providingthe same great service across all franchises. 6. Create a consistent color theme for the business. Consistent colored facilities and dress help keepthe business's promise apparent across all stores.
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