Michael developed The 8 Factors Business Framework while struggling with the rapid growth of his own company. Fighting fires and running from one crisis to the other was the norm, until he started looking at the roots of his problems and discovered that he could put them into 8 categories that he now refers to as The 8 Factors: Mission, Cash, Strategy, People, Culture, Processes, Structure, Leadership. Understanding the interconnected nature of these factors and how a change in one impacted the others, Michael used this business framework to grow his business into the world's largest telecommunications infrastructure development provider which was eventually acquired, publicly traded, and Michael was named CEO of Tetra Tech Communications Group.
As a prolific entrepreneur, turnaround consultant, business advisor and educator, Michael C. Bush has more than 30 years of experience and has helped thousands of entrepreneurs learn how to increase business. Michael's paradigm-shifting approach to business, distills the best content from business books, MBA theory, and personal insight into a powerfully simple and practical business framework for people who are currently running or just starting a small business: The 8 Factors.
A champion of small businesses and job creation, Michael offers refreshingly honest straight-talk with the compassionate tone of someone who has been there. A charismatic speaker, Michael draws on lessons from his childhood, to offer personal accounts that are revealing, humorous, and insightful. Through his entertaining, honest, and inspiring style, Michael forges immediate and lasting connections with audiences.
Michael received his M.S. in Management from The Graduate School of Business at Stanford University. In addition to his management consulting work, he sits on the board of Inner City Advisors and teaches entrepreneurship courses at a number of institutions including: Stanford University and Mills College. Michael is also a member of President Obama's White House Business Council, a group of business advisors that meets at the White House to help shape policy on issues that impact small businesses and promote economic prosperity and job creation in urban areas.
Whether you are starting a business or trying to grow a business, The 8 Factors Business Framework is a powerful business management tool available for today's entrepreneurs and small business owners. The Framework has proven its ability to help busy small business owners who want to improve their business, while they run it. The 8 Factors Framework is a focused, easy-to-follow business management course containing real-world solutions to small business problems. The 8 Factors distills the best content from business books, MBA theory, and personal experience into a practical and powerfully simple business framework. Through focused video lessons, step-by-step downloadable worksheets, assessments and tools, you learn how to increase business and create a growth plan specific to your small business. Your business, and your ability to lead it, will improve immediately! C'mon and give yourself a "kick in the business."
Testimonials from real business owners:
"When I first took the 8 Factors class 2 years ago, we had only about 5 employees and contractors. Today we have almost 20 people, and at the same time, our revenues have grown by 3 times thanks to the 8 Factors framework."
Nona Lim, Cook! SF
"We almost sold our brand to a big chain until we used the 8 Factors Course to remind usthat our mission—to provide unique, healthy products like Artisan Nut Butters and to growjobs— is stonger than our need to sell out. And we're still on target for $8 million in sales."
Santi Cuenca-Romero, Premier Organics
"We've grown from 35 to 78 employees in one year thanks to the 8 Factors Course. Thisyear, we're tackling an unforeseen financial challenge by planning for best and worst casescenarios. But 8 Factors is helping us turn negative circumstances into positive opportunities."
Tanya Scott, Ed Support Services
The importance of defining your future vision, business mission and core values. How they interrelate, drive your business and improve your decision-making.
You can’t motivate employees and set day-to-day goals if you don’t have a clear vision of where you want to go and ways to make sure you are heading in the right direction.
How to use the income statement to understand your current financial situation and to assess future scenarios so you can manage through changing market conditions.
Like many small business people, this is the lesson you’re most interested in. It might also be the one you’re most afraid of. Maybe you’re afraid to find out you make good cupcakes or cappuccinos but you’re not making any money doing it. You’re not alone. You might be afraid of numbers or think you‘re just not good at math. I’m going to help you get over those emotions because understanding your financial picture is so important to the success of your business.
The critical difference between profit and cash and approaches to manage the different profit and cash combinations.
As we detailed in the last lesson, the income statement helps you plan, keep your business on track and know how to respond to changes in the business by providing an estimation of profit — the measurement of business performance that gets a great deal of people’s focus and attention. What it doesn’t tell you, and what most people don’t talk about, is what is happening with cash.
The importance and benefits of choosing an operating discipline and how this one decision simplifies so many others.
In your work with Factor 1, you clarified your vision, mission and values. You know where you’re heading and clear on your destination, but you need to figure out how you should best get there; taking into account the vehicle you’re traveling in, current and expected weather, road construction, conditions and traffic. The complicated work of trying to figure out how best to get from where you are to where you want to be is the complex work of strategy.
Approaches to identify and assess both visible and invisible market forces in order to make appropriate and meaningful adjustments to your strategy.
Now, we dig deeper and explore the reasons that you always feel pressure in running your business, sometimes seemingly from all directions. There are many things that impact your business strategy including a number of outside forces that exert pressure on you and your business. The better you are able to identify the source of the force and assess the strength of each of the forces, the more strategic you will become in your decision- making.
Identifying and capitalizing on the significant opportunities for growth that are most often overlooked or mismanaged.
With a strategic foundation established through the work on operating discipline and the forces that affect your business, we now turn our attention to identifying the path to opportunity which, as it turns out, is oftentimes right in front of you.
Effective interviewing, evaluating and hiring; how to recognize, develop and hold on to your valuable employees and let go of those that are hurting your team and your business.
If you are someone who isn’t comfortable dealing with the “people issues,” as an entrepreneur, you have no choice. You need to get comfortable being uncomfortable and focus first on getting better at hiring. Of everything we have talked about in this lesson it is the one process that will have the most significant impact on your business.
Assessing, creating, cultivating and changing your culture to ensure it attracts, retains and supports people who execute your strategy in ways that your customers and competitors will “feel”.
Culture’s job is to attract and keep the right people. You as the leader must realize then that people inside and outside the company are constantly evaluating whether the company is what it says it is.
Begin to assess the culture today. Determine some of the attitudes, values or behaviors that you may need to work to change and gain some insight into the degree to which your perception matches reality regarding your culture.
Documenting, measuring and improving the way work gets done. Ensure your team is empowered and engaged and that you know how things happen before “know how” walks out the door.
Processes describe how you do everything in your business from building products, hiring staff and paying suppliers to delivering a service to customers. Whether or not you have taken the time to document it, there is always a series of steps that get completed as part of everything in your business. You want to be sure you are taking the right steps to perform the work but you also want to be certain that you are doing it in a way that supports and is aligned with the other Factors.
How to scale beyond the founder. When to “chart” the evolution of your company, what your organizational structure communicates and how to ensure that form follows function.
Your organizational structure should enable people to work effectively in a manner that is consistent with the other Factors and be dictated by how the business needs to function to best serve the customer.
How to demonstrate leadership across all the factors as well as know what is required for you to become the leader your business needs you to be.
The next step in your development as a leader is improving your ability to turn your focus inward and honestly assess your leadership strengths and weaknesses, how you are performing as a leader today and what you need to do to get better as a leader tomorrow.
Apply the lessons taught in Business Model Generation, written by Alexander Osterwalder & Yves Pignuer, into your daily 8 Factors regimen.
You've got to know when and how to make tough cash-preserving choices for your business to survive.
Dig deep into how to practically apply your strategies.
Real-world applications of the processes you've mapped for your business. Also learn how to effectively delegate work by managing company's your growth through your people.
A raw look inside what leadership is really all about.
Michael is a phenomenal instructor with a practical and realistic approach to business that made me feel very comfortable. As a business owner I sometimes felt as if I may be the only one dealing with certain issues like high turnover or cash flow problems etc. In this course I learned quickly that these issues are common and more importantly how to correct them. I have a successful business however my operations needed to improve in order to not only be profitable but to grow and expand the business as well. After the first day in class I went back to my office and began to comb through my operations. As I applied what I was taught, changes started to happen immediately. I am still applying what I learned and I recommend reviewing the tools Michael provides in the course and referencing them often in order to keep site of your main focus. I am grateful to have taken this course as what I learned I continue to apply and as a result I am moving strategically forward to grow my business. No one wants to chase their tail in business. This course will provide you with the tools needed to analyze your operations and make necessary changes that either you were to scared to make or maybe wasn't sure if you should make. Michael will help to provide clarity on whats important and how to build on that. review is long sorry :)
It's extremely valuable and refreshing to hear "real talk" about what small business people go through in their early years, and some real "kick in the butt" talk about what we need to do to get through it. You can't find this stuff in the business books. Take the class!
This course was perfect for me at this point in my business. I will undoubtedly revisit the lectures as my business progresses as well. Michael will help you to focus on issues where you need clarity. He will reinforce (or correct) your thoughts or feelings on other issues, the good and the bad. He will point out to you that you have issues to address that you didn't realize you had, and how to address them. Addressing each of the 8 factors will help you guide your business more successfully, or will help you to lay more solid groundwork as your prepare for the journey of success (and paranoia). Michaels experience, thoughtfulness and ability to clearly state his points make him one of the best teachers I've had. If you are considering this class, just sign up. It's well worth it.
The 8 factors by Michael Bush have guided me to setup important goals for my organization. I had lost track of key factors that have a high impact on my business, and after taking this course I have been able to take control and create a clear path to our vision. But the most important part of this course is Michael. He is not only a great communicator, but he motivates you in ways that I have not felt before in business. He feels more like a sports coach, in the sense of telling you what you need to hear to get to the top. Thanks
Your course is a godsend. Honest, direct, value-added insight that will move any business forward. I put you right next to Peter Drucker in terms of value. Anyone who is serious about improving their business operation, increasing their cashflow and lowing the stress of it all need not look any further. This is the real deal. You owe it to yourself and your business to take this course.