If you’re thinking about starting a business, there is no time like the present! Never have there been so many opportunities.
However, the failure rate for new businesses is high – some say as high as 90% in the first year. And, the economy and competition, not just locally but globally is also making it even more difficult. So you need something to help you beat the odds – and the “7 Secrets of Successful Business Owners” can help!
I have over 20 years’ experience working with business owners and I designed this class to give you a glimpse into some of the elements necessary to build a successful business today so that if you decide to take the leap, you will have a solid foundation to start with. In less than one-hour (no fluff included), I will share 7 secrets and how to structure them in your business plan or incorporate them into your existing business. The 7 secrets work whether you have a product, a service or a combination of the two.
So what does it take to build a successful business today…one that can stand the test of time? I’ll provide some of the answers in this class as we explore each of the 7 secrets. I’ll also include some examples, some do’s and don’ts and give you the opportunity to start working on your business idea with exercises and worksheets.
So let’s not waste another minute, let’s get started!
Secret #1: Learn the definition of a marketable product or service and how to test yours. This lecture includes a worksheet to help you determine if you have a marketable product or service.
Secret #2: Learn the elements that make up your bottom line. A worksheet is included to help you determine the profitability potential of your business idea.
Secret #3: Learn the steps to develop a target customer profile. A worksheet is included to describe your target customer.
Secret #4: Learn how to determine who your main competitors are and then rate yours using the lecture worksheet.
Secret #5: Learn some of the basic skills that every successful business owners either has or has available through partners, staff or advisers. Rate your business skills with the lecture worksheet.
Secret #6: Learn the basic elements included in the money side of your business. Rate your money side skills and write your money story with the worksheets included with this lecture.
Secret #7: Learn why having a vision statement and an exit strategy are important to your success. Then complete the Cover Story Exercise to start writing your vision statement.
A quick recap of the 7 Secrets and how they all fit together to help you build a successful business.
Patricia Stallworth, MBA is the Director of The Money Side and the CEO of the PS Worth, the parent company. She is a sought after coach and instructor with over 20 years’ experience in business and finance. Prior to establishing PS Worth, she worked in a management or advisory capacity for several firms including American Express Financial Advisors, the Small Business Development Center and Deloitte & Touche. She is also a past instructor at Oglethorpe University and the author of several books including Minding Your Money, that was featured as a part of the Wealth Building Series in Black Enterprise Magazine, and 7 Big Money Mistakes and How Business Owners Can Avoid Them.