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EMYTH
Entrepreneur (vision) Manager (order) Technicaian (implementer) treat your business as a prototype for 5000 more just like it. to imagine that someone will walk through your door with the intention of buying your business only if it works Business Development Program How to do this better (innovation - creativity is generating new ideas while innovation is implementing new ideas)? How to measure innovation (quantification - how can you know if your innovation works)? How to apply innovation (orchestration - having operation manual every small detail should be documented and followed subjected to change once it passed quantification)? the difference between living fully and living by accident (primary aim) commodity is the thing your customer actually walks out in his hand. (Revlon's cosmetic) product is what your constomer feels as he walks out of your business. (customer's hope of beauty) Money : how big will your company be? 300k, 10m, 500m Opportunity worth pursuing : Does the business alleviate a frustration experienced by a large enough group of consumers to make it worth the effort? most companies organize around people rather than accountabilities and responsibilities resulting to chaos President - accountable for overall acheivement of strategic objective VP Marketing - accountable for finding customers VP Operation - accountable for delivering what Marketing promised, discovering ways to improve process efficiency VP Finance - accountable for profitability standards and securing capital at the best rates (each manager has an operation manual complemented by the strategic objective) Marketing - sales, advertising and research manager Operation - production, service and facilities manager finance - receivable and payable manager leaders should also follow the rules in the operation manual or else why should you expect anyone to follow those rules an effective Franchise prototype is a business that finds and keeps customers better than any other with emphasis on little details that delight customers business is a game to be played in which the rules symbolizes the idea the owner have about the world if your idea is a positive one, your business will reflect that optimism. in this context, the degree to which your people do what you want is the degree to which they buy into your game if you don't know how to manage, how are you going to choose and manage managers? navy blue - most powerful suit color > Primary Aim (find a percieved need and fill it) - bringing better health solutions to patients > Strategic Objective > Organizational Strategy (accountability) > Management Strategy (system through operation manual) > People Strategy (recruit people who want to also play your game) > Marketing Strategy (people decision are oftentimes irrational so u need to study the demographics and psychographics of your target customers find out on questionaires what brands they buy through free samples find out the brand's marketing strategy and copy) > System Strategy ( hard system - uniforms, logo, etc. soft system - written or verbal communication with anyone who comes in contact with the business appointment, need analysis and solution presentation info system - data from day to day operations ) |