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EXECUTIVE SKILLS
| The Entrepreneurial Myth |
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Many business owners and entrepreneurs decide to start a business or establish an independent practice because they possess a particular skill set (e.g., they practice law, write software, cut hair, repair automobiles, provide accounting services, arrange loans, manufacture a product, etc.) and make the mistake of believing that their technical proficiency constitutes an adequate foundation for success. They (incorrectly) believe that if they have a really excellent product or service, customers will find them. Yet 80-90% of new businesses fail within five years! |
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| Employee vs. Entrepreneur |
| Most new businesses fail because many entrepreneurs fail to understand that the skill set that made them valuable as an employee is wholly inadequate to sustain them as a business owner. An employee’s value to an enterprise is his/her expertise (i.e.,their extensive knowledge of a particular area). In other words, an employee’s value proposition is knowing a lot about a little area. |
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| But to be a successful business owner, this model has to be turned upside-down. A successful business owner needs to know a little about a lot of areas. Six areas, to be specific. Sadly, many entrepreneurs never recognize this and, as a result, either fail or, at best, become subordinate to their business. The business runs them, instead of the other way around. In fact, one might argue that they don’t really have a business, just a job in another form and one they can’t easily quit. |
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| Why Do I Need Training? |
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Business education is a process, not an event, to be sure. But a thorough grounding in the six basic business areas is an essential prerequisite for any entrepreneur who wants to build a successful enterprise. The same people who plunge into business without any preparation would never dream of jumping out of an airplane without a parachute or diving into 100 feet of water with scuba gear they didn’t know how to use. On-the-job training in business can be just as dangerous. |
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| The Six Cylinder Model |
| Imagine a 6-cylinder automobile engine in which 3 or 4 of the cylinders aren’t firing. How do you think it runs (if it runs!)? A business is no different. If it’s not “firing” on all cylinders, it will sputter and shake, waste effort, and be unable to react quickly to new opportunities or competitive threats. |
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| Without a clear strategic plan, without an operating budget, with bland, uninspired marketing, unskilled selling, lack of systems to provide guidance to employees and a haphazard, unfocused recruiting and team building program, most small to midsize businesses stumble along, fighting fires, reacting to (instead of orchestrating) customer responses, making little money and then, 20-25 years down the road, when the owner wants to “cash out” and retire, wake up to the realization that they have nothing to sell…because the business is them! |
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| The Six Cylinder Program |
| At MCA, we see struggling businesses every day. Especially in challenging economic times. Booming economies mask a lot of shortcomings in a business. Downturns amplify them. And, sadly, when an entrepreneur’s business gets into trouble (and they all do…that’s why we call it “business”), it’s unlikely they will have the time and/or resources to “learn their way” out of it. |
| MCA’s “Six Cylinders of the High-Performance Business” program provides training in the six business skills areas essential for success. These areas are: business strategy, finance, operations, sales & marketing, systems and team building. |
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| Most entrepreneurs focus on Operations, because that’s where their expertise is centered and, consequently, where they feel most comfortable. That’s one cylinder. They usually also function in what they think is Sales & Marketing (though probably not trained in either). That’s two cylinders. Maybe. Finance? That’s left to the accountant, of course. Team Building? It’s hard to get good employees, right? Systems? What’s that? Business Strategy? I don’t have time..we’ve got a business to run. Final score for most entrepreneurs: two out of six cylinders. |
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Investment
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In 6 – 12 months, for less than the cost of a typical administrative assistant, MCA’s Six Cylinder program can teach you how to transform your business and have it earn the kind of money you imagined when you started. Maybe even more.
Our programs start as low as $31.95 per month for our Business Book-of-the-Month Club and up to $3000 per month for training of entire management teams. |
| In most cases, no long-term contract is required, only a month-to-month retainer. Contact us today and let us customize a program consistent with your needs and resources. |
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