Rough notes- DVC 9/28/17 – Professor Carolyn Seefer Small Business Class. WB talk.
DVC 9/28/17 – Professor Carolyn Seefer Small Business Class. WB Talk.
1- How many of you will be graduating in 2018?
2- Why are you taking this class?
A- it’s part of your required course plan?
B- interested in how small businesses work?
C- interested in starting a business?
D- other reasons?
3- What are some facts that you all know about small business?
4- My discussion will cover very small businesses ranging in revenue from $50,000.00 to $5,000,000.00, employees from 1 to 30.
5- Some major concerns for small businesses according to Forbes June 29, 2017.
A- Rising interest rates.
B- New Presidential Administration bringing in major changes, changes create uncertainty, uncertainty can hamper planning which can hamper business growth.
C- Healthcare costs and changes to healthcare regulations.
D- Local and Regional Economic Health.
6- Major concerns for my small business: (we do loans and consulting to help people buy, own, enjoy and sell properties in strategic ways from a tax and investment standpoint.)
A- Always assessing whether we are operating in line with our business plan: a- today b- this week c- this quarter d- this year? e- five years. Continuing education, Sales, Maintenance, Rest/Recovery Time. (TIME MANAGEMENT – Time is money)
B- Are we doing work that we believe in right now? (MISSION & VISION) Do we feel like we are making a positive difference? Are we helping clients make large jumps in their thinking and actions? Are we doing business that is also good for the health of our firm?
C- Are we staying abreast of new developments (reading, podcasts, classes, trade association meetings, etc.) in financial services and looking at how we can use them for our clients benefit? (EDUCATION, LIFELONG LEARNING)
D- How well are we executing our marketing and sales plans (I.e.- relationship visits, web advertising, swags, affinity groups, referrals, etc.) ( SALES AND MARKETING)
E- Are we seeing the business profit growth and expense controls (ACCOUNTING) that we have projected in our business plan? Why or why not?
E- How do we avoid becoming just a “Commodity” today? How many ways can we find to continue to position ourselves as a valuable resource to our target community today? (R & D)
F- What are we doing this month to work “on” our business, not “in” our business? (Covey, 7 Habits of highly effective people. Sharpening the saw.) -i.e.- Developing a new information PDF to help clients in their discussion with their CPAs? Making an upgrade to our computer network? Reviewing new ways to reward employees and reduce the chance of burnout?
Walter Brown, Jr. DE