CEO Accelerator: Accelerate Growth to Earn More. Work Less!

CEO Accelerator: Manual to Accelerate Growth to Earn More. Work Less!

Worksheet 1

Statement of Desire

To achieve my life purpose of______

______I have absolute faith that on December 31, 20____ ,

I will possess $______by serving those that can pay me

to get the job done of______

______.

For the money, I am unconditionally committed to giving up______

______;

but, I refuse to sacrifice ______

______.

Worksheet 2

Business Destination

12 Month Destination

Increase Profit (cash in your pocket for your family) from $ ______to $______

Increase Economic Value (sale value of the business) from $ ______to $ ______

Decrease Activity (hours working IN the business per week) from ______to ______

______Keystone of ______from ______to ______

5 Year Destination

Increase Profit (cash in your pocket for your family) from $ ______to $______

Increase Economic Value (sale value of the business) from $ ______to $ ______

Decrease Activity (hours working IN the business per week) from ______to ______

______Keystone of ______from ______to ______

Worksheet 3

Job to be Done – Your Purpose

______(Name to be Personal) is committed to (Importance) serving ______(Audience) by ______(Results). In ______years (Length), the organization will be a recognized ______(Livelihood to owner, employees & community).

Sample

Otsego Lake Consultingis committed to serving the Catskill area small business owners by providing on-site guidance in protecting client data from intrusion and malicious users that jeopardize client relations and company profits. In 5years, the organization will be a recognized as a top 10 provider of cyber security in upstate New York, compensating employees above fair wage and known for employee empowerment.

Worksheet 4

Target Market for Next 12 Months

A = Ideal Customers

The customers who are the most approachable, convertable and profitable. They have high referral value.

B = Marginal or Secondary Customers

Customers who have the potential to convert to “A” or who represent a secondary market producing less profit or volume than “A”.

C = Unwanted Customers

Customers who need to be let go

“Some clients can actually lose you money because they waste your time, adversely affect the way you treat other clients and make the time you spend in your business less enjoyable.”

– Word Of Mouth Magic!by Martin Russell

In the next 12 months, what are the specific results your “A” customers are paying you for? What problem(s) are you solving?

______

What are the key adjectives that describe what makes you best, better or different from your true competition:

______

Worksheet 5

Drive 5 to Earn More

Worksheet 6

Assessment Rating– Drive 5 to Earn More

Assess your ability to Drive 5 on worksheet. Rate each statement first on its importance for reaching your goals in the next year on a scale from 1 to 3 with 1 representing highest importance and 3 representing the lowest importance. Secondly, rate each statement on your current ability to implement on a scale from 1 to 3 with 1 representing nonexistent or ineffective implementation and 3 representing a complete, effective implementation. You can only have five “1s”, five “2s” and five “3s” for importance and the same number of each for implementation.

Multiply these two numbers to obtain your priority. Circle the five lowest numbers to identify the most important that you are not implementing well.

Worksheet 7

Assessment Rating– Align 5 to Work Less

Assess your ability to Align 5 on worksheet. Rate each statement first on its importance for reaching your goals in the next year on a scale from 1 to 3 with 1 representing highest importance and 3 representing the lowest importance. Secondly, rate each statement on your current ability to implement on a scale from 1 to 3 with 1 representing nonexistent or ineffective implementation and 3 representing a complete, effective implementation. You can only have five “1s”, five “2s” and five “3s” for importance and the same number of each for implementation.

Multiply these two numbers to obtain your priority. Circle the five lowest numbers to identify the most important that you are not implementing well.

Worksheet 8

Assessment Questions to Earn More

Driver #1: Number of Prospects

What is your ideal prospect?

______

What are you currently doing to generate prospects?

______

How many prospects do you generate per month (on average)?

______

What have you done in the past to generate prospects?

______

Do you believe this part of your business is working well? Why or Why Not?

______

Driver #2: Conversion Rate

From every ten prospects you get, how many would you convert into customers?

______

How do you know this number?

______

Do you have a set of best practices to share with your sales people? List them.

______

What is your USP (see definition above) & Guarantee?

______

Do you believe this part of your business is working well? Why or Why Not?

______

Driver #3: Purchase Amount per Customer per Transaction

What are your overall Average Dollar Sale and each employee’s Average Dollar Sale?

______

Is your business busy but your profits are low?Why or Why Not?

______

Are you satisfied with your Average Dollar Sale?Why or Why Not?

______

Driver #4: Number of Transactions per Customer per Year

What are the number of times your customers buy and the timeframe?

______

How often COULD someone buy more often from you?

______

Do you believe this part of your business is working well? Why? or Why Not?

______

Driver #5: Profit Margin

What is your Profit Margin?

______

How does your Profit Margin compare with your industry standard?

______

Do you believe this part of your business is working well? Why or Why Not?

______

Worksheet 9

Assessment Questions to Work Less

Element #1: Systems – policies & procedures

Does everybody clearly know their roles and responsibilities?

______

What systems do you currently have in place?

______

If a key person was out sick, what would you do?

______

If you had to fire someone, what problems would you face?

______

Element #2: Structure – organizing staff

If you didn’t turn up to work ever again, what areas of the business would be impacted?

______

What Key Performance Indicators reports does your staff submit? How often?

______

Is there a member of your staff that you could not afford to lose? Who and why?

______

Who is the highest paid, working the least amount of hours? (Hint: It should be YOU)

______

Element #3: Skills – capabilities of staff

How often do you have to replace an employee and why?

______

What does it cost you to hire a new employee? How long does it take to hire?

______

Who handles:

Marketing: ______

Administration: ______

Bookkeeping: ______

Accounting: ______

Invoicing: ______

Purchasing: ______

Element #4: Budgeting and Testing/Measuring

What financial reports do you normally get? How do you use them?

______

How often do you check your financial reports against your budget?

______

At what month of the year do you reach break-even?

______

How much is your cash reserve (business savings for unplanned expenses)?

______

What are your debt/equity financing needs for the next year and planned sources for these funds?

______

How often do you meet with your lawyer to review liability exposure and required regulations?

______

How often do you meet with your insurance agent to review your risk management plan?

______

List your top Key Performance Indicators.

______

Element #5: Culture – company norms, values, beliefs

What is your goal of fulfilling a need in the market place?

______

Why do you believe you can fulfill this need (your areas of potential)?

______

What is your goal of how many hours would you like to work in your business?

______

What would you do with the extra time?

______

Why do you believe you can generate more time for yourself?

______

Worksheet 10

Top 5 Transformational Priorities – Your “Trim Tabs”

Think in complete solitude. List ten areas that you believe that are within your control and would have the greatest impact on your twelve month goals of more time and money.

1.______

2.______

3.______

4.______

5.______

6.______

7.______

8.______

9.______

10.______

Take the ten down to five. What are the five areas that you can influence (control) weeklyand are predictable to reaching your goals?

1.______

2.______

3.______

4.______

5. ______

University of Maryland – Small Business Development Center

Fall 2015 DRAFT – For Classroom Use Only