Download Entrepreneurial Coaches Institute

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Coaching for
Small Business
Success
Helping an Entrepreneur
Be the
Best They Can Be
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Entrepreneurial Coaches Institute, LLC ©
Overview of
Entrepreneurial
Coach
Training Program
It has bothered me all my life that I don’t paint
like everyone else.
Henri Mattise,
French painter
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Unique Concepts of
Training Program
• Systematic process to assist entrepreneurs with
business idea
– Hands-on, team process
– Real-time coaching
– Innovative techniques
• Real-world examples
• Worksheets
• Lemonade stand
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Unique Concepts of
Training Program
• Focus on small “lifestyle” entrepreneurs
• Work with entrepreneurs in any type of business
• Entrepreneur expands own vision of business
model
• Become proficient in coaching skills
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Comments from Past
Participants
• “I’ve assisted start-ups for years, and this
process has cut launch time by as much as 70%.”
• Community economic development facilitator
• “The information, the delivery, the class
interaction, the passion and professionalism of
the instructors; this is by far the best leadership
development training I’ve received in the 30
years I’ve worked in corporate America.”
• Fortune 500 company field representative
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Overview of Training
Program
• Coaching skills
• Business success factors
• Areas of importance to business concept :
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Product/ Competencies
Customers/ Markets
Planning/ Marketing
Competition/ Alliances
Financials/ Funding
Operations/ Management
Strategic Issues/ Communications
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Overview of Training
Program
• Coaching skills
• Business success factors
• Areas of importance to business concept :
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Product/ Competencies
Customers/ Markets
Planning/ Marketing
Competition/
Alliances
• Evaluating
Potential Products
Financials/ Funding
• Defining
Your Target Market
Operations/
Management
Strategic
Issues/ Communications
• Researching
Your Market
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Determining Core
Competencies
Core competencies are the hallmark of the
organization; the driving forces of competitive
strategy and competitive advantage.
J. Thomas McIntire
Three Sigma, Inc.
Executive coaching business
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Determining Core
Competencies
• Areas of expertise distinctive to you, and
central to how company operates.
• Provides basis for competitive advantage
• Not product or service specific
– Can contribute to many end products
• Answers the question- “Why me”
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Determining Core
Competencies
• Core competencies can take on several
forms
– Technical know-how
– Unique process
– Close relationship with customers/suppliers
– Business culture, such as employee dedication
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Determining Core
Competencies
• Examples
– Honda
• Small gas engine
technology
– Sony
• Miniaturized
electronics
technology
– Federal Express
• Logistics networks
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Using Core Competencies to
Build Your Business
• Entrepreneurs often wrapped up in product
they sell; hard to think in terms of strongest
assets and abilities of business
– Allows development of whole new set of
products/services
• Sunflower Model
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Sunflower Model
Core Competency
What do you do well, better than
anyone else?
Products and Markets
How many markets & applications
can you think of where it might fit?
Underlying Assumptions
from Rob Ryan,
Smartups
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What key assumptions is your
business based on?
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How to Develop a
Sunflower Model
• Analyzing core competencies
– What makes you you?
• What you do really well
• Your area of expertise
• Your unique strength
– A skill, NOT a product
from
Rob Ryan,
Smartups
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How to Develop a
Sunflower Model
• Possible products and markets
– Once core determined, any
number of possible products/
services to sell
– Each petal a salable product
from
Rob Ryan,
Smartups
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How to Develop a
Sunflower Model
• Understanding underlying
assumptions
– What assumptions are your
business based on
– What would happen if this
assumption would prove incorrect
from
Rob Ryan,
Smartups
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Sunflower Model
• A Case study:
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Clemor is an elementary school-age boy who
lives on the corner in a relatively affluent, large
subdivision. He is one of very few kids his age in
the subdivision, which is populated with mostly
45-60 year old families. There is one couple
down the street with a lot of grandkids that visit often. Clemor’s father
has a professional job, and his mother is a stay-at-home mom. Clemor is
cute, has an outgoing personality and easily talks to other kids and adults
alike. He seems to have a certain level of ambition, maybe more so than
most kids his age. His mother has time to help and support him, and his
father is very interested in Clemor learning some business management
skills through this entrepreneurial venture.
Clemor’s
Lemonade
Stand
In addition, over the years, his mother has developed a unique lemonade
recipe, with some “secret” ingredients. Clemor has learned to make this
recipe. It’s more expensive than a simple powdered lemonade, but the
family all really likes it.
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Developing a Sunflower
Model
• Help Clemor
develop a sunflower
model for his
lemonade stand
Clemor’s Lemonade Stand
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Sunflower Model Worksheet
Core Competency(ies) _________________________
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Entrepreneur
Toolkit
Potential products and markets
(each a saleable product or new market)
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Underlying assumptions
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What if assumptions were wrong?
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Core Competency:
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What makes you you
What you do really well
Your area of expertise
Your unique strength
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For More Information
• Our products
– Training programs from 1-4 days, tailored to fit
unique needs of clients
• Who to contact
Melony Denham
ECI Marketing
[email protected]
(606) 563-6291
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Kim D Strohmeier
ECI Instructor
[email protected]
(502) 750-2107
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