Transcript Document
Small Business Tune-Up Presented by: Jim Griggy Certified Business Advisor The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties “Begin with the end in mind!” Successful entrepreneurs take time for visioning. • • • • What is your vision for your business? How does it compare with today’s reality? Do you have a plan to get from today’s reality to your vision? Can you identify the major milestones along the way? The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Marketing Tune-Up The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Image Review Do your advertising and trade dress match: • Who you really are • What you are trying to communicate to your customer today The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties The Website • • • • Is your content current and fresh? Are all of your links still good? What about SEO? Are blogs active if blogging? The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Market Shift & Opportunities • • • • • • Has your market shifted or changed? What are the forces driving the change? Are all of your eggs in one basket? Are you headed for obsolesence? Where are their new opportunities in the marketplace? Should you be looking at export opportunities? The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Financial Tune-Up The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties A Change of Strategy: When Should You Manage to STRENGTHEN the Balance Sheet? • Applying for a bank loan • Looking for angel, venture or equity capital • Preparing to offer the company for sale The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Capitalizing Growth Plans • • • • List of Capital Needs The Business Plan Financial Projections Hiring Plan The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Collections The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Human Resources Tune-Up The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Are You Employing the Right Talent • • • • • What are the important skill sets? What is your organizational culture? Walk me through your typical day Job descriptions Hiring Plan: Where to find? When to hire? The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Keeping the Good Ones • Employee Review • Are Your Incentive Plans Working? • Talent Retention The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Management Tune-Up The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties The Next Chapter in the Story • The time to consider exit strategies and succession plans is several years before you are actually ready to move on. • Contingency Plan – What if something happens to the owner/manager or other key person? The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Administrative Tune-Up The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Is your legal structure still the right fit? • Risk Protection • Investor Ready The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Insurance Review • General Liability • Professional Liability • Buy/Sell Agreement Life The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Intellectual Property Review • Are revised or new trade marks adequately protected? • What about Patents? The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Right-Sizing Professional Services • Legal • Accounting & Tax The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Begin with the End in Mind The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties The Business Plan • Do you have one? • How are you doing compared to it? The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties The Charting the Course • Do you need a strategic plan? • Do you suffer from mission drift? • MOSTAP Mission, Objective, Strategy, Tactic, Action Plan The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Organizational Quality • Baldrige • The Partnership for Excellence • IQA The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Use this PowerPoint as a Checklist • Take some time to review your own organization • The Small Business Development Center can help you review or work on any of the areas presented. The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties Jim Griggy Ohio Small Business Development Center Summit Medina Business Alliance 526 S. Main St., Ste. 813 Akron, OH 44311 330.375.2111 [email protected] www.AkronSBDC.org The Summit Medina Business Alliance – Serving Summit, Medina and Portage Counties