I recently joined Black Enterprises Lincoln Small Business University which is an online course through Black Enterprise and Lincoln Motors that provides free business courses for aspiring business owners looking to jump start their venture, or an established entrepreneur looking to energize their brand.
Andrew Morrison Small Business University expert and founder of the Small Business Camp, discusses strategies on growing ANY business idea within 3 months. Below is a synopsis of the material discussed in the class.
Step 1. Take Inventory – Re-examine your under performing assets – There is something that you already have that you can turn into a successful business, Andrew speaks about under performing assets and they exist in 3 areas
A. Networking - who do you know, and who do you know that may know someone else
B. Your Results – what are some of your past results whether they be good or bad reflect upon them and use them to your advantage
C. Your Resources- examine your resources tangible or not and see how you can turn it into cash
2. Listen Carefully for Opportunity - Connect your experiences and past results to a larger running story in the news or any form of media – There is opportunity that is presented to you on a daily basis but you don’t see them at times…Pick up the Newspaper everyday and look at the trends and look at the running stories and see how you can attach your business to that story
3. Develop a Business Model – What is your business model? How will you make money? The Key to a business model is to have more additions then subtractions. You need to figure out what your business model is and how you will make it successful.
4. Build a Team - It takes teamwork to make the dream work. Even if you don’t have money you can build a team by sending an email to all of your friends, colleagues, clients, perspective clients, etc. by telling them what you are trying to create also who needs to show up to fulfill the needs of the company.
5. Create something in 90 days – Focus on a Project give yourself a deadline to your projects so that you are focused on one thing and once you have completed the project you can move on to the next project.
I thought this class was very informative I cannot wait until next weeks session to see what the next topic will be.
To learn more about the Lincoln Small Business University free online business classes and to view the online courses that they offer please go to Lincoln Small Business University website and register today.
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