Transitioning from Corporate America to Entrepreneurial Enterprise

Transitioning from Corporate America to Entrepreneurial Enterprise

Michelle R. Dawson, PhDPresident

INTRODUCTIONS

•Your name•Where are you from?•Why you are in the program?

Who is Catalyst Enterprises International?

• Organizational Development Firm• Target Market

– Nonprofit organization– Small – Medium size established businesses

• Services provided– Operations systems– Strategy development– Talent Management

THE JOURNEY

• Education• Work Experience• Transition from corporate to entrepreneurial

venture

THE INTERNAL TRANSITION

• Belief that this is my purpose

• Belief in my talent and skills

• Belief that other will see my services as valuable

• Overcome fears

THE EXTERNAL TRANSITION

• Research market needs

• Financial preparation

• Determine pricing structure

And the day came when the risk it took to remain tight inside the bud was more painful than the risk to it took to blossom.

-Anais Nin

ImprovedPerformance

Exceeding ExpectationsYour Formula For Success

PositiveBehaviorChange

ImprovedPerformance


No one, Eleanor Roosevelt said, can make you feel inferior without your consent. Never give it.

MyGoals


ImprovedPerformance


Knowledge

MyGoals


ImprovedPerformance


Skills

Knowledge

MyGoals


ImprovedPerformance


Attitudes

Skills

Knowledge

MyGoals


ImprovedPerformance


Attitude is a little thing that makes a big difference.

Winston Churchill

CRITICAL SUCCESS FACTORS

• Target market • Market mix

• Strategic plan

• Mentor/coach

• Action plan with measurements

CHALLENGES FACED IN CURRENT ENVIRONMENT

• Limited resources available due to economy

• Training budget first to get cut within companies

• Reactive vs. Proactive Mode

IMPROVE CASH FLOW

Increase Sales Volume Increase Price Reduce Costs

Increase Usage by Existing Customers

Attract Competitors Customers

Convert Non-Users

Add New Products

Improve Sales Mix

Improve Prices

Cut Operating Costs

Reduce Financial Cost

•Innovate. Offer new, related products/services•Focus on future; Be ready for market rebound

•Rework marketing message for this target market•Advertise in different placements

•Rework marketing message to differentiate Yourself from competition•Explore low cost way to spread your message

•Keep advertising, increase PR & networking•Offer discounts•Add value instead of lowering price •Add value; Don’t lower prices

•Shed marginal business•Focus on your strength

•Line item review of cash flow•Info systems (tracking & expense, etc.)•Compare cost w/industry benchmarks

•Make drastic cuts, shed marginal business•Negotiate better rates (suppliers, media buys etc.)•Re-evaluate labor intensive tasks/ for simplification

•Manage inventories carefully•Renegotiate loan terms•Get financial house in order•Borrow smartly

HOW TO HANDLE CHALLENGES

• Re-evaluate your unique value proposition (UVP)

– What is unique about your business versus competitors?

– Which of these factors are most important to your prospects?

– Which of these factors are most difficult for your competitors to imitate?

– Which of these factors can be most easily understood by your prospects?

HOW TO HANDLE CHALLENGES

• Understand what motivates your prospect– Gain or benefit

– Avoid a loss

– Solve a problem

WHY SET GOALS?

If you don’t know your destination, how will you know when you have arrived?

We all have two choices: We can make a living or we can design a life

MEASURING YOUR GOAL SETTING SUCCESS

Setting a goal is not the main thing. It is deciding how you will go about achieving it and staying with that plan. –

Tom Landry

IMPORTANCE of WRITING GOALS

• Written goals force you bring the idea into reality

• Written goals, that we look at often, make us feel better about our life

• Written goals force us to be accountable

Summary

• Find your passion

• Internal and external preparation

• Set clear goals

• Anticipate roadblocks

THANK YOU FOR YOUR PARTICIPATION

73 Greentree Drive #322Dover, Delaware 19904

Website: www.Catalystenterprise.comToll Free 1.866.403.5779

Business

Transitioning from Corporate America to Entrepreneurial Enterprise