Who is Rick Jensen?Who is Rick Jensen?• Business Management• Small biz (Owned and Operated)• Multi profit centers (sales, service, training)• Regional with multiple business units

• Sales & Marketing • Business Development• Cross promotional initiatives

• Training background• Business owner/professional coaching• Sales, Management, Marketing, Operations

• I have been in your shoes

My Purpose is to Help You…My Purpose is to Help You…

Increase the value of your business by investing in the

business education and coaching resources that

are right for YOU...

What Makes a What Makes a Successful BusinessSuccessful Business

Two ReasonsTwo Reasons

•Get Customers.Get Customers.

•Keep Customers.Keep Customers.

5 Contributions for Success to 5 Contributions for Success to a business:a business:

• Quality or Unique product or Quality or Unique product or concept (Value Proposition).concept (Value Proposition).

• Timing.Timing.

• Capital.Capital.

• People resource.People resource.

• Effective Effective Management/Leadership.Management/Leadership.

The Five Business DangersThe Five Business Dangers

• Poor LeadershipPoor Leadership

• Under Performing Sales.Under Performing Sales.

• Ineffective Marketing.Ineffective Marketing.

• Lack of Human Capital Lack of Human Capital Management.Management.

• Financial Mismanagement.Financial Mismanagement.

The 5 Steps to Business The 5 Steps to Business FreedomFreedom

How is your business?How is your business?

What will make you Different?What will make you Different?

Monopoly Commodity

The race is on.The race is on.• The race is not to the swift, nor the The race is not to the swift, nor the

battle to the strong, neither yet battle to the strong, neither yet bread to the wise, nor yet riches to bread to the wise, nor yet riches to

men of understanding, nor yet men of understanding, nor yet favour to men of skill; but time and favour to men of skill; but time and

chance happeneth to them all. chance happeneth to them all. • ButBut

• That’s the way to bet.That’s the way to bet.

Business MediaBusiness Media• LocationLocation

– City, State.City, State.– Market(s)Market(s)

• BusinessBusiness– Brochures, Collateral, DressBrochures, Collateral, Dress– Signs, colors, font (Branding)Signs, colors, font (Branding)

• Communication Communication – AdvertisingAdvertising– PromotionsPromotions

• PeoplePeople– Script (how they talk)Script (how they talk)– Look (Dress and look)Look (Dress and look)

Competitive Advantage, Competitive Advantage, Ability to ExecuteAbility to Execute

• First to Market.First to Market.

• First to Execute processes the First to Execute processes the best.best.

• First to create a Benefit to the First to create a Benefit to the need.need.

• Follow but, execute proficiently.Follow but, execute proficiently.

• Better Service.Better Service.

Competitive EdgeCompetitive Edge

• Products.Products.

• Availability.Availability.

• Service.Service.

• Accessibility.Accessibility.

• Convenience.Convenience.

• Execution of service/information.Execution of service/information.

• Processing.Processing.

Impacts to your businessImpacts to your business

1)1) 4 Business Influences (people 4 Business Influences (people segments)segments)

2)2) 5 Business skills (success driven)5 Business skills (success driven)

3)3) 4 Preferences each Influencing 4 Preferences each Influencing segment needs to be met.segment needs to be met.

4)4) What is the point.What is the point.

5 Essential Skills for 5 Essential Skills for BusinessBusiness

1)1) Concentration (focus to result).Concentration (focus to result).a)a) Ability to listen, ability to respond (attention).Ability to listen, ability to respond (attention).b)b) Ability to focus (energy)Ability to focus (energy)

2)2) Discrimination (attention to be directed).Discrimination (attention to be directed).a)a) Direction of attention-the intent.Direction of attention-the intent.b)b) Development of standards. Development of standards.

3)3) Organization (chaos into orderOrganization (chaos into order).).a)a) Space, Time, Work.Space, Time, Work.b)b) Action needed for Function.Action needed for Function.

4)4) Innovation (order into action).Innovation (order into action).a)a) Order into the right action (best way).Order into the right action (best way).b)b) Willingness to try anything.Willingness to try anything.

5)5) Communication (results produced).Communication (results produced).a)a) How results are produced.How results are produced.b)b) Message conveyedMessage conveyed

4 Major Influences of 4 Major Influences of BusinessBusiness

1)1) CustomersCustomers

2)2) EmployeesEmployees

3)3) SuppliersSuppliers

4)4) LendersLenders

4 Categories of Preference4 Categories of Preference

1)1) Visual.Visual.a)a) What does it look like (Human not commercial).What does it look like (Human not commercial).b)b) Statement of belief, meaning-importance.Statement of belief, meaning-importance.

2)2) Emotional.Emotional.a)a) Substance and Content.Substance and Content.b)b) Rules (principled).Rules (principled).

3)3) Functional.Functional.a)a) Process oriented (Best Way).Process oriented (Best Way).b)b) Controls (managing the project),Controls (managing the project),

4)4) Financial.Financial.a)a) ““Food” that drives businessFood” that drives businessb)b) Monitored daily or it will destroy.Monitored daily or it will destroy.

Reasons Customer’s Purchase Reasons Customer’s Purchase where they do.where they do.

ConvenienceConvenience BrandBrand

NeedNeed WantWant

ReputationReputation PeoplePeople

PricePrice ServiceService

Value (combination price to feature)Value (combination price to feature)

It’s the Experience

Reason(s) Why Customers Reason(s) Why Customers buy:buy:

–Not Features.Not Features.

–Not Advantages.Not Advantages.

–It is the Benefit(s)It is the Benefit(s) •The ONE(s) that meet their NEED(s).The ONE(s) that meet their NEED(s).

Standards, Goals, Standards, Goals, ExpectationsExpectations• Standards (Requirements).Standards (Requirements).

– TimelinessTimeliness– ProfessionalismProfessionalism

• Goals/Objectives (KPI’S) Goals/Objectives (KPI’S) – SalesSales– New BusinessNew Business

• Expectations (Values)Expectations (Values)– Results orientedResults oriented– Culture specificCulture specific

RisksRisks

• Not getting to the Market on time.Not getting to the Market on time.• Not having the right message.Not having the right message.• Not having the right product.Not having the right product.• Not having a competitive offering.Not having a competitive offering.• Not being Market Correct with Not being Market Correct with

Core products.Core products.• Timeliness of customer Timeliness of customer

satisfaction.satisfaction.

Violation of Customers Violation of Customers ExpectationsExpectations

• Product Availability.Product Availability.

• Product doesn’t do what you say Product doesn’t do what you say it will.it will.

• Not on time.Not on time.

• Doesn’t meet their need.Doesn’t meet their need.

• Continual customer service Continual customer service issues (quality).issues (quality).

Drivers and InitiativesDrivers and Initiatives• Drivers:Drivers:

– Sales growth.Sales growth.– Customer retention.Customer retention.– Expense Management.Expense Management.– Process improvement.Process improvement.

• Initiatives:Initiatives:– What is needed to meet the drivers.What is needed to meet the drivers.– Processes to help attain goals.Processes to help attain goals.

Business PlansBusiness Plans

• Drivers (Value Proposition):Drivers (Value Proposition):– Increase X Sales by ##%.Increase X Sales by ##%.– Increase Margins by ##%.Increase Margins by ##%.– Reduce Expenses by ##%.Reduce Expenses by ##%.

• Initiatives:Initiatives:– Target X segment.Target X segment.– Add ## locations.Add ## locations.– Increase SME skill set.Increase SME skill set.– Reduce processing time.Reduce processing time.

• Increase sales without sacrificing Increase sales without sacrificing margin.margin.

• Increase sales without increasing Increase sales without increasing COA.COA.

• Reduce expenses.Reduce expenses.

• Availability of product/services.Availability of product/services.

• System/Software/Process System/Software/Process constraintsconstraints

ConstraintsConstraints

Alignment of Drivers Alignment of Drivers (Leadership)(Leadership)• OwnerOwner

– Sales/Service objectives.Sales/Service objectives.– Customer retention.Customer retention.– Expense management.Expense management.

• Manager (Drivers and Initiatives)Manager (Drivers and Initiatives)– Goals.Goals.– Incentives.Incentives.

• TechnicianTechnician– Execute on sales drivers.Execute on sales drivers.

– Retain current, save opportunitiesRetain current, save opportunities..

How are you going to Make How are you going to Make your Business Successful?your Business Successful?• Value Prop that reflects customer Value Prop that reflects customer

needs.needs.

• Marketing plan to target Marketing plan to target customers.customers.

• Goals/Drivers aligned to Value Prop.Goals/Drivers aligned to Value Prop.

• Everyone in the company Everyone in the company compensated/aligned to the same compensated/aligned to the same goals.goals.

Point?Point?• 1) Passion (caring)1) Passion (caring)• 2) Value (its more than the business-you)2) Value (its more than the business-you)• 3) Standards (look, feel, conscience)3) Standards (look, feel, conscience)

• 4) 4) It’s the peopleIt’s the people– CustomerCustomer– EmployeesEmployees– SuppliersSuppliers– LendersLenders

Thank youThank you

• Richard JensenRichard Jensen

• Coaching and More, Inc.Coaching and More, Inc.

• 612.605.0661612.605.0661

• richardcjensen@msn.comrichardcjensen@msn.com