Proven Formula For Entrepreneurial Success

Learn how to make a plan for success and how to avoid potential problems that can stop you cold.
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  • Lectures 11
  • Length 1.5 hours
  • Skill Level Beginner Level
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 5/2015 English

Course Description

PROVEN FORMULA FOR ENTREPRENEURIAL SUCCESS

Designed to help entrepreneurs better understand the ten most important areas that separate success from failure in new ventures or small businesses and the nine barriers that inhibit growth. This 45 minute video which is broken into nine segments presents over 100 ideas involved in the Proven Formula For Entrepreneurial Success. This course shows entrepreneurs how to leverage the limited financial and human resources of a new venture or small business thus allowing them to better compete with larger firms.

The goal of this course is to demonstrate how to reach the break even point sooner, lower your risk of failure, reduce costly mistakes, maximize profits and revenues and basically improve your probability of success.

Ideal for owners and managers of start ups, early and growth stage businesses, along with incubators, aspiring entrepreneurs and students

This course explains how to use the Proven Formula For Entrepreneurial Success which includes target marketing, dealing with change, an effective and efficient marketing and sales organization, proper pricing, proper debt and equity financing, good financial controls, leveraging information technology and human resources, efficient operations and new product/service development

You will also learn how to avoid the Growth Busters, items that inhibit entrepreneurial growth, such as the inability to act, not recognizing legacy issues, silos, emphasizing tactics at the expense of strategy, not delegating, getting caught in long complex sales cycles, not using the correct decision making process, and not being realistic about markets, customers and competition.

What are the requirements?

  • Generally what kind of business you have begun or are planning to begin.

What am I going to get from this course?

  • Create a plan that will guide them through the steps necessary to launch a successful entrepreneurial enterprise and avoid pitfalls that are known "growth busters".

What is the target audience?

  • Any new or aspiring entrepreneur who wants to create a plan for success.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Proven Formula for Success
04:14

Robert Calvin

Formerly adjunct Professor of Entrepreneurship and Marketing at the University of Chicago Booth School of Business


Robert Calvin is an Adjunct Professor of Entrepreneurship and Marketing at the University of Chicago Booth School of Business where he has taught courses in entrepreneurship, new enterprise/small business management and sales force management in the MBA and Executive Education programs. He is the president of Management Dimensions, Inc. an international consulting firm specializing in assisting small businesses, start-ups and turnarounds plus assisting larger firms in sales and sales management training. Clients range from the Fortune 500 to the Inc. 100.

A specialist in buying companies that are losing money and managing them back to profitability, he has applied his proven step-by-step formula for success to hundreds of consulting clients. He was the owner/manager of many smaller businesses that he bought or started and were later sold off to larger firms.

Mr. Calvin is the author of "Entrepreneurial Management, The McGraw-Hill Executive MBA Series", "Sales Management. The McGraw-Hill Executive MBA Series", and most recently "Sales Management Demystified",McGraw-Hill 2007. His "Sales Management" book won the Soundview Award for one of the 30 best business books in 2001. Mr. Calvin holds a BA from Wesleyan University and an MBA from Columbia University.

04:49

Entrepreneurs have limited financial and human resources so we can not survive and prosper being all things to all people. This lecture deals with best practices for targeting markets and customers to increase your probability for success.

An entrepreneur's job is managing and taking advantage of change. Business is a dynamic process. This lecture deals with how to manage the ever changing business landscape of markets, customers, competition and technology.

04:58

The two major problems/opportunities of any entrepreneurial ventrure are selling the product/service and raising funds. This lecture deals with finding the most efficient and effective way to affordably reach your target market.

Most entrepreneurs, start ups and early stage businesses underprice their products/services. Price is part of the product image, the more you charge the more it is worth. Proper pricing creates positive cash flow and helps fund your business. This lecture deals with best practices for arriving at prices that will maximize your dollars of gross margin over time.

Proper Financing
05:03
07:56

We manage what we monitor. This lecture deals with key financial indicators that allow an entrepreneur to monitor/measure the venture's success.

Entrepreneurs have limited financial and human resources. This lecture recommends how to leverage systems, hardware and softrware so that you can act like a big business on a small budget. Good systems are essentail for success/survival. This lecture also deals with best practices for leveraging limited human resources so that all the important functions are covered.

04:24

Sales are made in the market, profits are squeezed from efficient operations. This lecture describes how to break your operations into bite size pieces and analyse each piece to improve efficiency.

New product development is an important area for growth of your business. This lecture deals with ideas to lower the cost and risk of new product development by innovating rather than inventing.

07:48

It is important to understand the major weaknesses of entrepreneurial ventures so that you may avoid them.

Section 2: Growth Busters
03:55

Inability to Act | Legacy Issues | Silos

Some entrepreneurs suffer from chronic inertia. They fear the risk of making decisions and taking action. This is a growth buster. Knowledge is only power if we use it.

Business is a dynamic process, the future is a moving target. Every year successful entrepreneurs must consider best practices for continuous improvement. Justifying a decision/choice because this is the way we have always done it is a growth buster.

Whether you have 100 employees or 3, poor communication is a wasteful growth buster. Even entrepreneurial ventures need to discourage employees from creating silos that prevent seamless interaction.




03:20

Tactics VS Strategy | Delegating | Long Complex Sales Cycles

Strategy drives tactics but many entrepreneurs allow tactics to drive strategy which is a growth buster.

Most entrepreneurs have a strong need to control things and do not delegate enough to team members which is a growth buster.

Long complex sales cycles with many steps between search and purchase is a growth buster for smaller ventures because long complex sales cycles require greater resources which gives larger firms a competitive advantage.

05:59

Problem Solving Techniques | Growth Busters Summary

Many entrepreneurs reach solutions before they have defined the problem which is a growth buster. This lecture deals with a problem solving technique which helps you define the problem, look at alternative causes, analysis alternative solutions, pick the best solution, measure results and take corrective action if necessary.

38 pages

We have added the entire Part Two section of Robert Calvin's Book Entrepreneurial Management as Course Bonus. Be sure to check the course descriptions to find the sections of the book that will augment the content you are learning in that lecture.

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Instructor Biography

Robert Calvin, Previously Adjunct Professor Chicago Booth Business School

Robert Calvin was an Adjunct Professor of Entrepreneurship and Marketing at the University of Chicago Booth School of Business where he has taught courses in entrepreneurship, new enterprise / small business management and sales force management in the MBA and Executive Education programs.

He is the president of Management Dimensions, Inc. an international consulting firm specializing in assisting small businesses, start-ups and turnarounds plus assisting larger firms in sales and sales management training. Clients range from the Fortune 500 to the Inc. 100. A specialist in buying companies that are losing money and managing them back to profitability, he has applied his proven step-by-step formula for success to hundreds of consulting clients. He was the owner/manager of many smaller businesses that he bought or started and where later sold off to larger firms.

Mr. Calvin is the author of "Entrepreneurial Management, The McGraw-Hill Executive MBA Series", "Sales Management. The McGraw-Hill Executive MBA Series", and most recently "Sales Management Demystified",McGraw-Hill 2007. His "Sales Management" book won the Soundview Award for one of the 30 best business books in 2001. Mr. Calvin holds a BA from Wesleyan University and an MBA from Columbia University.

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