PERFECTLY POSH: OWN ITIDEAS ON RUNNING A SMALL BUSINESS

WELCOME.YOU BOUGHT A KIT, YOU ARE NOW A BUSINESS OWNER.

BUSINESS OWNERA business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers.[1] Businesses are prevalent in capitalist economies, where most of them are privately owned and provide goods and services to customers in exchange of other goods, services, or money. Businesses may also be not-for-profit or state-owned. A business owned by multiple individuals may be referred to as a company. (wikipedia)

BUSINESS OWNERS!

• Mission Statements/BHAG (Big Hairy Audacious Goals)

• Marketing

• Start/Stop/Continue

MISSION STATEMENTS/BHAG

• “A computer on every desk in every home all running Microsoft Software.”

• “To have every book, ever written, in any language, available in 60 seconds or less.”

Those are Microsoft and Amazon’s Kindle BHAG. They were not achieved overnight. These are totes, crazy, ambitious goals, but the statements are easy to understand. You can skip the word SYNERGY. Mission statements and your BHAG should be brief (25 words or less) and to the point.

MISSION STATEMENTnoun an official document that sets out the goals, purpose, and work of an organization.

SEVEN PILLARSPerfectly Posh Mission is Seven Pillars:

Innovation -Creativity - Energy- Fun- Honesty- Respect- Passion

!Your mission statement is YOUR objective for YOUR business.

What will your Posh Mission be? Think about :

who your customers are

what we are selling (products and experience)

Why do you sell Posh?

Where do you sell Posh?

Are you a team leader/mentor?

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BHAGA BIG HAIRY AUDACIOUS GOAL (BHAG) IS A STRATEGIC BUSINESS STATEMENT SIMILAR TO A VISION STATEMENT WHICH IS CREATED TO FOCUS AN ORGANIZATION ON A SINGLE MEDIUM-LONG TERM ORGANIZATION-WIDE GOAL WHICH IS AUDACIOUS, LIKELY TO BE EXTERNALLY QUESTIONABLE, BUT NOT INTERNALLY REGARDED AS IMPOSSIBLE. (HTTP://EN.WIKIPEDIA.ORG/WIKI/BIG_HAIRY_AUDACIOUS_GOAL)

• Big, Hairy, Audacious Goal

• What crazy, out of the world, almost unattainable goal do you have for YOUR BUSINESS?

• The BHAG might be so huge that it will take 5 or 10 years to achieve it! Think HUGE.

GOALSYou thought of the BHAG. Now lets think about smaller goals to have a successful business. At first you will have daily, weekly, monthly goals. Then you will grow to have yearly and even a decade from now goals.

Some of you know that ultimately you want to quit your 40 hour job, others want money for emergency fund, or perhaps you want to pay of your mortgage in 15 years. Whatever your financial goal is I suggest having a number in mind and making it into an algebraic formula.

Why did you start a business? There are a few reasons, but I am sure one common reason is MONEY. If you want $20, $200, or even $2,000 on the 10th of each month you need to think about routes to get there.

You can easily earn 25% from each product you sell. How much do I have to sell each month to hit my goal?

I need to sell $800 in PV to earn $200.

How many parties with how many guests is that?

How many repeat customers?

How much do I have to sell to earn my downline bonus?

I need at least $500 in PV and if my team could sell X, I would earn Y.

How many teammates do I need to help maintain that level of CV?

Pace myself. Plan out the your month so you are not scrambling at the last minute.

GUIDELINE TO SUCCESSPerfectly Posh starts us with great guidelines that you should try to make a habit. The Props and the Monthly Award are are fabulous structure to build a successful business. Once you hit these in your first 90, then aim for the monthly award each month.

• Above is how to earn the monthly award. If you are using the as an outline to run your business, you will be building a customer base and a team base.

• Marketing • Set up a budget (Daily, Monthly, Annually)

• Do your homework for a reasonable budget. This is YOUR business. It will take some investment.

• You can negotiate prices with people you are buying ads from. They are also in sales. Some people might even be willing to barter, ad space for a Snarky Bar. (Be fair and ethical, this is YOU you are advertising)

• Who, What, Where, Why and How

• Who are your customers/teammates?

• What will they see, read, buy?

• Where can you find them?

• How can you find them? How can you persuade (educate) them to purchase Posh from YOU?

• Social Media, Blogs, Events, Samples, Word of Mouth

• Displays- Ask businesses (Dentist, Doctor, Bakery, Mechanic, Coffee Shop, Hairdresser, Boutique, Consignment Shops, Boutiques)

• Chamber of Commerce

• Networking events

• Ads

• School newspapers, yearbooks, sport or art programs

• Community ads

• Magazines, Newspapers, Flyers

• Blogs

STOP/START/CONTINUE

You have hit a plateau (or never felt take off). Take the time to make a list of what you are doing in your business (Marketing, events, social media, sample making, incentives, phone calls, EVERYTHING). Think of your own business first and think of all the things that make you successful.

First, write down and document all the things that work that you want to "continue" doing.

Next, think of the things that have not worked and document them as "stop" activities.

Think of a few new ideas that you want to "start" doing that you have learned about as part of your experience. Once all this is documented, it might be a good idea to create a document of the results and perhaps it can become the basis for a "Best Practices" document. Keep track of this. You may switch things around depending on seasons.

Remember, that you will get discouraged. Businesses have cycles and there will be rough patches. To be a successful business owner you need to commit to your Mission Statement and your BHAG.

NEVER QUIT ON A BAD DAY! I am not sure who said that, but I heard it early on with my Posh business. It hit home for me. If you do not quit on a bad day, you probably won’t quit on a good day.

To build a Posh network that allows others to feel good about themselves, their buying choices and their business.

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To Make One Mill ion Dollars!

CONCLUSION

• You bought a kit. You bought an opportunity. Own it. Work on your goals and what being a Perfectly Posh Business owners means to you. Your homework is to write a mission statement or a BHAG and share in on Sharing Posh. Make a statement about what you want from your business, today, tomorrow and in ten years.