1 WBEA Ridin’ the Rail to Success Seven Principles of a Spectacular Business by Alan E. Hall

2 Time Test Principles 1. Know Your Customer 2. Take care of Customers 3. Grow Revenues, Sell, Sell, Sell 4. Hire the Right Employees 5. Value Your Employees 6. Establish a Winning Culture 7. Manage Cash.

3 Know Your Customer › Who are they?  Consumer or Business › What are their needs? › When do they buy? › Where do they buy? › What solutions do they use /competition? Sell, Design, Build, Deliver

4 Take Care of Your Customer Sell the right product Sell it for the best prices Deliver it on time Guarantee it works Provide support Provide an excellent buying experience

5 Grow Revenues Service Profit Chain Sell, Sell, and Sell

6 Service Profit Chain Hire the right employee Take care of the employee Employee makes customers happy Happy customers buy, and buy more Happy customers tell their friends, new business. Your company enjoys success and profitability

7 Sell, Sell and Sell Know customer wants and needs, pain Competition Sell the solution Channels to market Innovators, early adopters Sales cycle Sales steps Right people

8 Hire the Right Employees Competent Capable Compatible Committed Character Culture Compensation

9 Value Your Employees Market wages and benefits Personal growth Reward and recognition Innovation Respect Self reliance

10 Establish a Winning Culture Integrity Industriousness Customer focus Results driven Team work Industry leadership Community involvement

11 Manage Cash Financial strategy Budgetary vs. actual Watch expenses carefully Monitor revenues Cash flow needs Capital requirements Twice as long, twice as much

12 In Summation Principles of a Spectacular Business Know Your Customer Take Care of Customers Grow Revenues Hire the Right Employees Value Your Employees Establish a Winning Culture Manage Cash

13 Economic Development via Entrepreneurship Grow America

14 Resources › › © MarketStar 2004

15 Questions and Answers Thank you.