Bud Cornwell - CEO

The Business Success Window

Knows Everything About Business (Quadrant 1)

This quadrant represents the things that you know about business.

Does Not Know “What to Do” (Quadrant 2)

This quadrant represents things you do not know “What” to do in the business.

Does Not Know “How to Do It” (Quadrant 3)

This quadrant represents things you do not know “How” to do in a business. Understanding “How” to do business is a must for success.

Knows Nothing About Business (Quadrant 4)

This last quadrant represents the “lack of” business knowledge and analytics.

Knows Everything About Business (Quadrant 1)

This quadrant represents the things you know about business. This includes your knowledge, skills, attitudes, behavior, marketing, etc. INC.com describes the 9 Most Important Elements as:

1. Value Proposition: the product/service, its features and benefits or

uniqueness vs. competition; size of the market opportunity; and the MVP

or minimum viable product that best illustrates the product as quickly as

possible to elicit customer feedback early 

2. Customer Segments: who your customer is and what problems the

product solves 

3. Channels: how you’ll distribute and sell your product 

4. Customer Relationships: how you’ll create demand 

5. Cost Structure: the fixed and variable costs required to operate your

business 

6. Key Activities: the tasks the company must perform to succeed 

7. Key Resources: suppliers, commodities, or other essential elements of

the business 

8. Key Partners: other enterprises essential to success of the business 

9. Revenue Streams: revenue and profit sources and size 

Does Not Know “What to Do” (Quadrant 2)

This quadrant represents things you do not know what to do in the business. Understanding “The What” to do constantly changing and you must always stay on top of these changes. Analyze, Analyze, Analyze. Did I mention you must always be analyzing your business? There are many different analytics that can be reviewed in your business. The most important must be determined first and resources must be applied. This process becomes the guide to “The What” to do in business.

1. Brainstorming

2. Document analysis

3. Interviews

4. Workshops

5. Reverse engineering

6. Surveys

7. User task analysis

8. Process mapping

9. Observation/job shadowing

Does Not Know “How to Do It” (Quadrant 3)

This quadrant represents things you do not know “How” to do in a business. Understanding “How” to do business is a must for success.

1. Know how to sell - Selling means being able to convey why

your product or service, which may be you if you are looking for a

job, will make things better. Selling is never about convincing. It is

always about helping.

2. Put yourself in the shoes of your customer - If you know how

to put the person you are dealing with in a position to succeed,

you can be successful. In order to do this, you must be able to

quickly understand the needs and demands of that person and

those of the company(s) they work for or with.  Every person and

industry is different.  This is something that comes from investing

incredible amounts of time to understand different industries,

businesses, roles, and what has made them work and not work.

Does Not Know “How to Do It” (Quadrant 3) cont.

3. Know as much as you can about technology - The beautiful thing

about technology, it changes every day.  Look at any technology you can

see today, have ever seen or you have read about, it was invented by

someone. They know the product better than everyone.  On the day that

it is released, you are as knowledgeable about that technology as

anyone else in the world.  From there, it is just about effort to keep

learning.

4. Always ask how you would design a solution if no current solution

existed - 99.99% of the things we do in business are being done the way

they have always been done. No one has re imagined how things should

be done. That is what successful people do.  Every situation they are in

they take their knowledge of the business or situation they are visiting,

whether its buying a deck of playing cards, eating at a restaurant or

trying to solve a problem and think about how to re invent it.  They do not

ask people what they would want. They envision a complete

reapplication. Then they decide what to do with what they just recreated.

Does Not Know “How to Do It” (Quadrant 3) cont.

5. Is it the path of least resistance to something better - Lots of people come up with ways of doing things they think are great/amazing. What they fail to ask is whether it will make anyone else’s life better or easier. The simple test of any imagineering of a process or situation is simple. Is this the path of resistance to a better place for the user? Yes or No.

6. Be nice - People hate dealing with people who are jerks.  It is always easier to be nice than to be a jerk.  do not be a jerk

Knows Nothing About Business (Quadrant 4)

This last quadrant represents

the lack of business

knowledge and analytics.

Many people assume because

they worked for an

organization or know

someone that owned a

business, they know what to

do and how to run it. I

suggest you visit the

following website and then

determine the size of this

quadrant as it pertains to

you.

http

://www.entrepreneur.com/arti

cle/68958

The Finish Line

Your ultimate goal is to enlarge the “Knows

Everything About Business” area.

Conducting a business the way Grandpa did

may have advantages as it relates to small

town networking and friendship, however

today’s business world and the customer

are drastically different.

A business owner has only two options to

ensure the business succeeds,

1. You spend valuable time

analyzing your business and learning

how to stay on top of the

competitors, prevent business

stagnation, and grow your business.

OR

2. Engage someone to spend

valuable time who knows how to

analyze your business and can

advise you on how to stay on top of

the competitors, prevent business

stagnation, and grow your business. Business requirements change at a continuously rapid rate and you must understand what you can control and especially what to do about it!

Are you Business Smart ?

Business Acumen 

is keenness and quickness in understanding and dealing with a business situation in a manner that is likely to lead to a good outcome

Final Thoughts

Passed performance is

NOT a guarantee for future success!

It’s Up To YouTo Be a Successful Business Owner

Due to the nature of constant change in the market and technology, not a single soul on the planet can predict the future of your business, except YOU!

Where is your business headed?