what 3 business models are scalable
DESCRIPTION
There are good reasons to use a business model that is scalable and has room to grow. There are consequences if you don't. We have found three viable models but they differ in many ways including how they relate to the personal goals and interests of the owners or partners. Is there one that's right for you or should you stay a freelancer or lifestyle business owner? This poses questions to consider, provides resources, and includes books worth reading and useful Business Success Center events to attend online or in person.TRANSCRIPT
+BOSS-Talks
Scalable Business
Models
Presenter: Jan Triplett, Ph.D. CEO Business Success Center Sales, Marketing & Financial Strategy #BOSSModelsFeb2014
+ This is me. 2
We produce smarter owners, better sales, scalable businesses! • We’re the place to come for tools & systems to ramp up or scale your business • 30 years of successful results
• High tech to no tech firms • Service & product businesses • A-Z industries & professions
• Award-winning, Internationally recognized
• NCRC Professionally certified
• Proud to be green ©Business Success Center, Austin, TX 2014. All rights reserved.
+Goal of this BOSS-Talks
n Get ideas to share and use in your business situation.
n Information is from: n My book, Networker’s Guide to Success 3rd Edition,
n Planning to Go (to be released March 1) and
n My posts at http://ownersview.com/owners-viewblog/
3
(Business Ownership Success System)
©Business Success Center, Austin, TX 2014. All rights reserved.
+Agenda
n Kinds of Models
n Things to think about
n Q&A as we go along
n Worth Reading
n Events Worth Attending
4
©Business Success Center, Austin, TX 2014. All rights reserved.
Scalable Business Models
© Business Success Center, Austin, TX 2014 5
Scalability Defined " Scalability is the ability of a business to handle a
growing amount of work in a capable manner or its ability to be enlarged to accommodate that growth.
" It implies that the underlying business model offers the potential for economic growth within the company.
From Wikipedia
© Business Success Center, Austin, TX 2014 6
Business Model Defined " Describes the rationale of how an organization creates, delivers,
and captures value (economic, social, cultural, or other forms of value).
" In theory and practice, it is used for a broad range of informal and formal descriptions to represent core aspects of a business:
Purpose Target Customers Strategic Business Units (what the business sells) Strategies Infrastructure and Organizational Structures Trading Practices, and Operational Processes and Policies.
" The process of business model construction is part of business strategy.
From Wikipedia
© Business Success Center, Austin, TX 2014 7
All are Scalable Business Models
" Product " Service " Product with Services
" Services with Products
© Business Success Center, Austin, TX 2014 8
Models Refined
" Entrepreneurial " Proprietorship " Guild
© Business Success Center, Austin, TX 2014 9
Differences in Models " Customers
" Employees
" Timing
" Growth Strategy
" Systems
" Exit
© Business Success Center, Austin, TX 2014 10
Scaling & Exit Are Related
" Money
" Effort " Time
© Business Success Center, Austin, TX 2014 11
Decide Where You’re Going First
" Multiple locations
" Sell " Franchise " License " Go Public " Close Doors
© Business Success Center, Austin, TX 2014 12
Who’s Going with You? Solo or Partner?
© Business Success Center, Austin, TX 2014 13
How Do You Know You’re Scalable?
" Flexible & Adaptable " Quick to ID problems, opportunities, threats " Easy to manage, maintain, upgrade, fix " Minimal disruption when changes made
" Consistent " Deliverables (including access to suppliers) " Operations " Customer Attraction & Retention " Financials
© Business Success Center, Austin, TX 2014 14
What if you don’t scale? " Hard to fund " Hard to hire help " Hard to get time off " Lifestyle Business " Freelancer " Cash flow ups & downs " Business dies; hard to sell
© Business Success Center, Austin, TX 2014 15
Now what? " Analyze what you’re doing now.
" Decide if scaling is right for you.
" If yes, spend quality time to make it more scalable & hire right — No hip shooters!
" If no, live with it — Padre Island billboard “If our music is too loud, too bad.”
© Business Success Center, Austin, TX 2014 16
Next BOSS-‐Talk " Topic: Successful Business Owner Traits
" Thursday, March 6, 11:00-‐11:30am CST
" RSVP at http://www.eventbrite.com/e/business-‐success-‐center-‐boss-‐talks-‐successful-‐business-‐owner-‐traits-‐tickets-‐10510297583?utm_campaign=new_eventv2&utm_medium=email&utm_source=eb_email&utm_term=eventurl_text
" Please tell others.
© Business Success Center, Austin, TX 2014 17
©Business Success Center, Austin, TX 2014. All rights reserved.
18 Resources n Meet & Grow – free scalablity potential meeting (email
marsha@ownersview to schedule)
n BSC’s Income Generation Partnership — select opportunity for clients wanting an active partner to help generate income.
n Consider reading: n Blue Ocean Strategy by Kim & Mauborgne n The Networker’s Guide to Success 3rd Edition, ebook by Jan Triplett
at Apple, Amazon, & Nook or pdf from the BSC n Thinking Big, Staying Small by Ruiz, Triplett, & Shipp-Evatt n BSC Enewsletter “40,000 Foot View” on business strategy. Free. n Checklist Manifesto by Gupta.
n For other business strategy resources, check out: n http://www.ownersview.com n Jan Triplett and Daniel Diener’s guest posts for the Business Bank of Texas
©Business Success Center, Austin, TX 2014. All rights reserved.
19 Coming Up
n Next BOSS-Talks online Thurs. March. 6(11:00-11:30 CST) “The Right Stuff: Successful Business Owner Traits”. Do you have what it takes?
______
n B2B Meetup —Perfect Partner Mon. Feb. 24 11:45-1:00PM CST online interview with Mike Whiteside, CEO of Black Dog Salvage and star of DIY and HGTV’s “Salvage Dawgs” on growing a business and a partnership.
n First Looks Forum Mentoring Program Feb. 18 Must apply by Feb. 10. Free
n Owners MBA (Go here for more info)
Find out more about our other business development events at http://ownersview.com/owners-mba-tools/business-development-meetings/
To talk, email me ([email protected]).
+Here’s to
your success!
Jan Triplett [email protected]
www.ownersview.com 512-933-1983
#BOSSModelsFeb2014