High Impact Growth Strategy (HIGS) Two-Day Workshop

1
High Impact Growth Strategy (HIGS) Two-Day
Workshop

• Generation of Business Opportunity Profiles (BOPs)

2
Introductions

• Workshop Facilitators
• Dr. Basil G. F. Springer GCM Change-Engine
  Consultant, CBET Inc.
• H. Peter Mansel MBA, President and Co-Founder 4P
  Group Inc.
• Participants
• Please introduce yourself one at a time
• Name
• Country
• Institution
• Position
• What you hope to get out of this workshop

3
Welcome to the HIGS Workshop
4
Workshop Agenda

• Day 1 Morning Programme
• 09.00-09.45 Welcome and Introductions
• 09.45-10.00 Spot an Anomaly -The Catalyst of New
  Ideas (Section 1)
• 10.00-10.30 Turning Ideas into Commercial
  Realities (Section 2)
• 10.30-11.00 Morning Break
• 11.00-11.45 CBET Entrepreneurial Shepherding
  Model (Section 3)
• 11.45-12.00 Why Share Your Ideas Whats In It
  For Me - And Protection of Your Idea (Section 4)
• 12.00-13.00 Lunch

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Workshop Agenda contd

• Day 1 Afternoon Programme
• 13.00-14.00 Business Opportunity Profile (BOP) of
  a Completed CBET Business Plan Sea Island
  Cotton Strategic Alliance (Section 5)
• 14.00-14.45 Global Entrepreneurial Trends and
  Directions (Section 6)
• 14.45-15.15 Caribbean Entrepreneurial Trends and
  Directions (Section 7)
• 15.15-15.45 Afternoon Break
• 15.45-16.15 Potential Caribbean Business Ideas
  from Think Tank Session (Section 8)
• 16.15-16.40 Whats Your Business Idea (Think Tank
  or Other)?
• 16.40-16.45 Select a Team Leader
• 16.45-17.00 CBET Agreement Review and Signatures
  (Section 9)

6
Workshop Agenda contd

• Day 2 Morning Programme
• 09.00-10.00 Discuss Selected Business Idea to get
  a clear understanding within each group
• 10.00-10.30 Morning Break
• 10.30-11.30 Brainstorm and Fill out Page 2 of the
  BOP in your workbooks (Section 10)
• 11.30-12.30 Lunch

7
Workshop Agenda contd

• Day 2 Afternoon Programme
• 12.30-13.30 Brainstorm and Fill out Page 3 of the
  BOP in your workbooks (Section 11)
• 13.30-14.30 Brainstorm and Fill out Page 4 of the
  BOP in your workbooks (Section 12)
• 14.30-16.00 Team Business Opportunity
  Presentations (15 Minutes for Each Group)
• 16.00-16.05 Distribute Business Opportunity
  Profile (BOP) Forms
• 16.05-16.15 Team Leader to Fill Out Final Copy of
  BOP for Participant Signatures and Submission to
  CBET
• 16.15-17.00 Workshop Closing Session and Feedback

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Section 1

• Spot an Anomaly
• The Catalyst of New Ideas

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Anomalies are the starting point for new business
ideas since they reveal the first signs of change
in the marketplace.

• For the first time
• One of the hottest segments
• Unprecedented
• Never before
• Unique
• Exceptional

• In the form of
• Never seen
• Replacing

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• When a shift in market behaviour, technology
  usage or classical business alignments is
  reported, stay focused on the anomaly. Then
  assess the impact on your business or industry
  and evaluate if a new business idea has emerged.

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How to Identify Anomalies

• Go to Page 9 in your Workbook

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Anomaly Examples

• Go to Page 10 in your Workbooks

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Section 2

• Turning Ideas
• into
• Commercial Realities

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Turning Ideas into Commercial Realities

• There are lots of good ideas (and even more bad
  ideas) around, but very few become successful
  businesses
• It is believed that this is because the sort of
  person that generates innovative ideas rarely has
  the skills to turn the idea(s) into reality
• There are many great ideas out there however
  turning a great idea into a product or service is
  a complex process that few ideas complete.

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Turning Ideas into Commercial Realities contd

• Identifying Business Opportunities
• Requires both systematic analysis and
  unstructured creativity
• It is always less expensive to examine an idea
  thoroughly in advance than to incur the expenses
  of a business failure
• An idea is an opportunity only if it has some
  realistic chance for success.

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Turning Ideas into Commercial Realities contd

• Develop and evaluate new business ideas
• Three ways of generating business ideas are
• Assessing your own personal skills and strengths
• Researching business publications (look for
  anomalies)
• Understanding market trends and consumer needs.

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Turning Ideas into Commercial Realities contd

• Conduct market research!!!!
• If properly done, market research will help you
  answer important questions such as
• What types of people will buy your product?
• Where do they live and work relative to where
  they shop?
• What benefits of your product or service are most
  important to them?
• Why do they buy?
• Where do they look when deciding what to buy
  (newspapers, radio, television, etc.)?
• What prices can they afford and what do they
  expect to pay?
• Use Potential Customers Other Firms in similar
  field Statistics

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Turning Ideas into Commercial Realities contd

• Know your goals
• Financial Independence?
• Make the World a better place?
• Reduce Poverty?
• Image?
• Self Actualisation?
• Be prepared to work many hours and assume risk

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Turning Ideas into Commercial Realities contd

• Project your cash flow
• Cash flow is NOT Revenue Profit or Money in the
  Bank
• Its cash that comes from Investors Lenders
  Business Operations or Sale of Assets
• You need sufficient cash for start-up operations
  and to fund operations until the business becomes
  self-sustaining.

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Turning Ideas into Commercial Realities contd

• Beware of Sales
• Sales do not necessarily produce positive cash
  flow
• Understand and establish each sale's minimum
  required cash contribution
• You will not be in business for long if you make
  it a habit to sell at below cost
• Your goods or services must be priced low enough
  to attract the most purchases possible, while
  being high enough to maximise cash contribution
  per sale.

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Turning Ideas into Commercial Realities contd

• Be ready for change
• Your competitive environment will probably
  change
• Your business may not remain afloat with its
  current set of products, services, customers and
  prices
• You need to anticipate the changing needs of the
  market, the presence of competition and the
  price-competitiveness of your offerings.

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Embracing Change
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Who Moved My Cheese?
Spencer Johnson, M.D.
An A-Mazing Way To Deal With Change In Your Work
And In Your Life.
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Money?
Respect?
What is Your Cheese?
Love?
Work?
?
What is Your Cheese?
Health?
Family?
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Change Happens
They Keep Moving The Cheese
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The More Important
Your Cheese Is To You
The More You Want To Hold On To
It.
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Anticipate Change
Get Ready For The
Cheese
Cheese
Cheese
Cheese
To Move
Cheese
Cheese
Cheese
Cheese
Cheese
Cheese
Cheese
Cheese
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If You Do Not Change You Become Extinct.
Extinct.
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Are You Ready To Change?
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Are You Ready To Change?
Are you Willing To Change?
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Monitor Change
Smell The Cheese Often So You Know When
It Is Getting Old.
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Noticing Small Changes
Early Helps You Adapt To
The Bigger Changes That Are To Come
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Adapt To Change Quickly
Movement In A New Direction Helps
You Find New Cheese.
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Old Beliefs Do Not Lead You To New
Cheese.
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Change
Move With The Cheese.
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What Would You Do If You
Werent Afraid?
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Enjoy Change
Savor the Adventure and Enjoy The Taste
of New Cheese.
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When You
Move
Beyond Your Fear

You Feel Free.
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Be Ready To Change Quickly And Enjoy It Again And
Again.
They Keep Moving The Cheese
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Turning Ideas into Commercial Realities contd

• Prepare a Business Plan!!!!
• Once you have identified an opportunity as a
  possible basis for a new business venture, a
  thorough business plan must be prepared to
  uncover all the ramifications of your idea before
  you commit time and money
• Your business plan will
• Help you to be realistic about your selected
  business opportunity
• Help you to identify your customers, your market,
  your pricing strategies and the competitive
  conditions under which you must operate to
  succeed
• Improve your ability to manage your business
• Outline your short- and long-term business goals
  
• Identify the amount of financing required
• Make it easier for lender, investor, employees
  and suppliers to assess your business's
  potential.

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Turning Ideas into Commercial Realities contd

• CBET provides the enabling environment to turn
  your profitable ideas into commercial realities
  (www.cbet-inc.org).

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Its Break Time

• Please be back within 30 minutes

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Section 3

• CBET Entrepreneurial
• Shepherding Model

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CBETs Mission

• To facilitate the generation of business ideas
  and the promotion of business success in order to
  stimulate and sustain rapid global niche market
  growth for Small State economies.

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About the Model

• The CBET model speaks of business facilitation
  and partnership with the entrepreneur. It
  shepherds the entrepreneur (or institution) on
  the journey from business concept to business
  success ensuring that the companions of
  Management and Money are optimal at every step of
  the entrepreneurs journey. CBET then engages in
  cyclical support to facilitate growth.

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The Seven Drivers of The CBET Model Are

• Generate New Ideas or Re-engineer Existing Ideas
  producing Business Opportunity Profiles
• Develop Business Opportunity Profiles into
  Business Plans
• Convert Business Plans to Business Start-Ups
• Evolve Business Start-Ups to Business
  Implementation
• Advance Business Implementation to Business
  Success Mentoring Management
• Advance Business Implementation to Business
  Success Preventive Business Health
• Lobby for Timely Public Sector Support to Provide
  a User-friendly Enabling Environment.

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CBET Services

• High Impact Growth Strategy (HIGS) Workshop
• This is a two-day interactive dialogue event
  aimed at generating new ideas from a blank
  sheet among participants with diverse
  backgrounds who engage in a brainstorming
  session. The output from this instrument is a
  Business Opportunity Profile (BOP) in support of
  Driver No. 1.

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CBET Services contd

• Strategic Visioning Retreat (SVR)
• This is a one-day event where stakeholders, in an
  existing idea meet, in an interactive dialogue
  setting, to re-engineer the vision and produce a
  BOP. The output from this instrument is a
  Business Opportunity Profile (BOP) in support of
  Driver No. 1.

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CBET Services contd

• Business Plan Development
• BOPs, from drivers 1 or 2, which are deemed to
  have potential for commercialisation are put
  through the CBET Business Plan development
  process.

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CBET Services contd

• Coordination Assistance
• CBET offers its services on a fee-for-service
  basis to convert the business plan to Business
  Start-Up. This process involves identifying
  promoters and sources of initial seed capital,
  establishing the company and convening the first
  meeting of the Board of Directors. This is in
  support of Driver No. 3.

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CBET Services contd

• Implementation Assistance
• CBET engages, on a fee-for-service basis, in
  implementation activities from the first Board of
  Directors meeting to establishing business
  systems. This activity will terminate when the
  management team for the business is selected and
  is in place and the hand over process has been
  completed. This is in support of Driver No. 4.

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CBET Services contd

• Mentoring Management
• CBET provides ongoing assistance, on a
  fee-for-service basis, to the management of the
  organisation to ensure that they are operating at
  the state-of-the-art level to enhance global
  competitiveness. This is in support of Driver No.
  5.

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CBET Services contd

• Preventative Business Health
• CBET provides ongoing services which are designed
  to inoculate the business against the potential
  deleterious effect of business diseases, such
  as inadequate markets, under-capitalisation, and
  lack of training of staff. This is in support of
  Driver No. 6.

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CBET Services contd

• Lobbying Assistance
• CBET recognises the value of a smart partnership
  between the public and private sectors and,
  hence, offers a fee-for-service lobbying service
  for timely public sector support to provide a
  user-friendly enabling environment. This is in
  support of Driver No. 7.

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CBET Services contd

• Investment Support
• CBET will solicit investment from individuals,
  groups and private companies, and financial
  institutions, to invest in the for-profit
  company, CVIS. These funds will be the first
  investment call for CBET inspired initiatives.
  CBET will also seek complementary investment
  funding from other equity sources.

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Section 4

• Why Share Your Ideas?
• Whats In It For Me?
• Protection of Your Ideas

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Traditional Risks of Sharing Your Ideas

• The biggest fear is that your idea might be
  stolen
• When to disclose
• During deal negotiation process
• Keep careful records.
• How much to disclose
• Minimum necessary without being fraudulent
• Maintain control over your idea.
• To whom to disclose
• Dont disclose to competitors
• Disclose only under NDA.

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Sharing your ideas in this Workshop

• Traditional issues do NOT pertain because
• Pooling your thoughts will take an idea further
  than you could have done individually
• The groups BOP will be protected by CBETs
  Caribbean Intellectual Property Corporation
  (CIPC)
• The whole team will share in the rewards if the
  BOP becomes a viable business.

59
Its Lunch Time

• Please be back within one hour

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Section 5

• Business Opportunity Profile (BOP) of a Completed
  CBET Business Plan West Indian Sea Island
  Cotton Strategic Alliance

61
West Indian Sea Island Cotton Strategic Alliance
BOP

• Turn to page 29-32 in your Workbooks

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Section 6

• Global Entrepreneurial Trends and Directions

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Global Entrepreneurial Trends Directions
Business Models and Focuses are Changing

• OLD Focus A BIG IDEA
• NEW Focus A CLEAR VISION
• There's nothing wrong with big ideas, except they
  can't survive on their own. They also have to be
  clear visions. What's the difference? A clear
  vision is executable, while a big idea may not
  be.

Adjust Your Focus - entrepreneurial trends,
Entrepreneur,  Oct, 2001  by Mark Henricks
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Global Entrepreneurial Trends Directions

• OLD Focus TECHNOLOGY-DRIVEN
• NEW Focus CUSTOMER-DRIVEN
• It's not about what technology will allow it's
  about what customers will buy. Yet entrepreneurs
  typically enter fields where they're technically
  knowledgeable, which often leads them to focus on
  product capabilities more than what customers
  need. Even when entrepreneurs appear to be
  considering what customers want, they may not be
  addressing their real needs.

65
Global Entrepreneurial Trends Directions

• OLD Focus LOTS OF FUNDING
• NEW Focus INEXPENSIVE CONCEPT TESTING
• "Does it really take 50 million just to test
  your concept?" The question is rhetorical, and
  the answer is clearly negative.
• Despite the excesses of the last few years, the
  typical entrepreneur would agree, if for no other
  reason than necessity. Most entrepreneurs don't
  have the luxury of having that kind of funding
  available.
• You don't need a lot of funding to get a lot back
  if you start small and grow organically.

66
Global Entrepreneurial Trends Directions

• OLD Focus HOMEMADE MANAGEMENT
• NEW Focus STUDIED MANAGEMENT
• Naturally, business school professors are going
  to recommend entrepreneurs go back to school to
  learn how to run their companies. But there may
  be something more to this new focus than academic
  self-interest. Maybe the management wisdom of the
  past has not been repealed by the New Economy.
• Entrepreneurial intuition may not be enough these
  days. Business schools are starting and expanding
  existing entrepreneurship programs, but they're
  not even keeping up with demand.

67
Global Entrepreneurial Trends Directions

• OLD Focus ENERGY SPENT ACQUIRING FUNDING
• NEW Focus ENERGY SPENT ACQUIRING CUSTOMERS
• Customers, not investors, create wealth. The
  investor is the enabler, but for anything to
  succeed, it has to have customers.
• Spending too much energy on finding funding can
  cripple a growing business!

68
Global Entrepreneurial Trends Directions

• OLD Focus TRADITIONAL MEAT-AX MARKETING
• NEW Focus CREATIVE SURGICAL MARKETING
• The mass market, for all practical purposes, has
  been dead for a generation. The effective
  companies are the ones that have been targeting,
  targeting, targeting.
• A target market isn't necessarily a small market.
  You can assemble a number of niches into a mass
  nearly as big as that reached by a Super Bowl ad.
  But when you target your marketing to each of
  those niches, you can make far more money.

69
Global Entrepreneurial Trends Directions

• OLD Focus MAJOR MILESTONE IS AN IPO
• NEW Focus MAJOR MILESTONE IS MARKET SHARE
• If one thing is clear in the new entrepreneurial
  era, it's this Acquiring and serving customers,
  not selling stock to investors, builds companies.

70
Section 7

• Caribbean Entrepreneurial Trends and Directions

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Caribbean Entrepreneurial Trends and Directions
CARICOM Single Market Economy

• With globalization in the 1980s the treaty of
  Chaguaramas proved an inadequate mechanism for
  facilitating responses to a new world economy
  which involves larger markets, intense
  competition and the free movement of capital.
• The emergence of mega trading blocs in different
  parts of the world and the development of Free
  Trade Areas of the Americas, meant a Single
  Market Economy became an urgent necessity for
  the region.

CARICOM SINGLE MARKET ECONOMY (CSME) A
DEFINITION AND GOVERNMENTS VIEW AND VISION,
November 10, 2004.
72
Caribbean Entrepreneurial Trends and Directions

• Single Market is to be created by January 1, 2006
• CSME Membership of 13 countries represents 6
  million people.
• Antigua Barbuda
• Barbados
• Belize
• Dominica
• Grenada
• Guyana
• Jamaica
• Montserrat
• St. Kitts Nevis
• St. Lucia
• St. Vincent the Grenadines
• Suriname
• Trinidad Tobago

73
Caribbean Entrepreneurial Trends and Directions

• CSME is single enlarged economic space created
  through the removal of restrictions and resulting
  in the free movement of
• Goods
• Services
• Persons
• Capital
• Technology
• It confers the right on CARICOM nationals to
  establish business in any CARICOM Member State
  and to be treated in the same manner as a
  national of that State.

74
Caribbean Entrepreneurial Trends and Directions

• The five main pillars of CSME are
• Provision for the free movement of Capital
• Provision for the free movement of Goods,
  Services, and People within CSME
• The establishment of common trade and economic
  policy
• Harmonization of economic, fiscal and monetary
  policy
• A common currency

75
Caribbean Entrepreneurial Trends and Directions
This will have a profound impact on
entrepreneurs within the region and open up
numerous opportunities.
76
Its Break Time

• Please be back within 30 minutes

77
Section 8

• Potential Caribbean Business Ideas

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Caribbean Business Ideas Selection Criteria

• Innovative
• DNA of an Elephant
• Caribbean Brand
• Global Niche Market Potential
• Linking Macro-, Mini- and Micro-Enterprises
• Competitive Advantage
• Environmentally Friendly
• Natural Resource Use

79
Potential Caribbean Business Ideas

• Output from think tank session
• Logistical Coordination (Products)
• International Marina Services
• Value-added Aloe Products
• Caribbeanonsale.com
• Mobile Caribbean Theatre
• Pharmaceutical Products from Local Flora

• Output from think tank session
• Residential Health Care Facilities
• Caribbean Adventure
• Regional Event Planning
• Logistics Coordination (Services)
• Teen Entertainment Club
• Study and Nature Tours

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So what is Your Business Idea?
81
Section 9

• CBET Agreement Review and Signatures

82
Protection of Participants Intellectual Property

• Please go to page 50-52 in your Workbooks

83
High Impact Growth Strategy (HIGS) Two-Day
Workshop

• Generation of Business Opportunity Profiles (BOPs)

84
Workshop Agenda

• Day 2 Morning Programme
• 09.00-10.00 Discuss Selected Business Idea to get
  a clear understanding within each group
• 10.00-10.30 Morning Break
• 10.30-11.30 Brainstorm and Fill out Page 2 of the
  BOP in your workbooks (Section 10)
• 11.30-12.30 Lunch

85
Workshop Agenda contd

• Day 2 Afternoon Programme
• 12.30-13.30 Brainstorm and Fill out Page 3 of the
  BOP in your workbooks (Section 11)
• 13.30-14.30 Brainstorm and Fill out Page 4 of the
  BOP in your workbooks (Section 12)
• 14.30-16.00 Team Business Opportunity
  Presentations (15 Minutes for Each Group)
• 16.00-16.05 Distribute Business Opportunity
  Profile (BOP) Forms
• 16.05-16.15 Team Leader to Fill Out Final Copy of
  BOP for Participant Signatures and Submission to
  CBET
• 16.15-17.00 Workshop Closing Session and Feedback

86
Discuss Selected Business Idea

• You have one hour to discuss your Selected
  Business Idea to get a clear understanding within
  each group

87
Its Break Time

• Please be back within 30 minutes

88
Section 10

• Brainstorm and fill out Page 2 of the BOP in your
  workbooks

89
Its Lunch Time

• Please be back within one hour

90
Section 11

• Brainstorm and fill out Page 3 of the BOP in your
  workbooks

91
Section 12

• Brainstorm and fill out Page 4 of the BOP in your
  workbooks

92
Team BOP Presentations
93
Final copy of BOP

• Team leader to fill out final copy of group BOP
  and obtain group member signatures

94
Closing Session Feedback

• Please let us know your thoughts and recommend
  how we can make this workshop even better

95
Have a Great Day