Table of Contents

Preface

1. Strategy

About This Chapter

After Studying This Chapter

Strategic Planning in Small Businesses

Role of Strategic Planner

Small Business Strategic Planning

Strategies

Porter’s Competitive Strategies

Growth Strategies

Sustainability and Exit Strategies

Tools for Strategic Analysis

Porter’s Five Forces

Core Competency

Value Chain

SWOT Analysis

PESTLE Analysis

The Business Model

Case Study 1 / Readapt Systems Strategy for Exponential Growth

Discussion

2. Consulting, Teaming, and Project Management

About This Chapter

After Studying This Chapter

Nature of Emerging Business Consulting

Entry

Business Case

Contracting

Data Collection and Analysis

Data Collection

Integration/Synthesis

Inferences/Relationships

Business Decisions and Actions

Metrics

Follow-Up Evaluation

Teaming

High-Performance Teams

Team Development

Forming Stage

Storming Stage

Norming Stage

Team Roles

Cultural Considerations in Teaming

Divergent Thinking

Performing Stage

Teaming Postscript

Project Management

Project Mission

Project Goals and Objectives

Project Scope

Project Team

Knowledge Management

Project Plan

Project Management and Control

Dealing with Problems

Project Close

Mentoring

Creating the Action Plan

Focus on Key Issues

Prioritize Findings and Analysis

Compile the Action Plan

Describe Action Steps

Follow Up

Discussion

3. Multicultural Markets

About this Chapter

After Studying This Chapter

Multicultural Markets

Multicultural Marketing

Context of Multicultural Markets

Multicultural Population Growth

Multicultural Purchasing Power

African Americans

Demographics

Geographics

Other Factors

Purchasing Power

Media

Hispanic Americans

Demographics

Immigration

Geographics

Other Factors

Purchasing Power

Media

Asian Americans

Demographics

Immigration

Geographics

Other Factors

Purchasing Power

Case Study 2 / Northwest Asian Weekly

Media

American Indians and Alaska Natives

Demographics

Geographics

Other Factors

Purchasing Power

Media

Native Hawaiians and Pacific Islanders

Multiple Race

Lesbian, Gay, Bisexual, and Transgeder (LGBT)

Culture and Markets

Discussion

4. Multicultural Entrepreneurship

About This Chapter

After Studying This Chapter

Minority Businesses, Other Small Enterprises, and Nonprofits

Most Small Businesses Want to Stay Small

Businesses with No Employees

Employer Firms

Gazelles, or High-Impact Firms

Sources of Capital

African American Businesses

Case Study 3 / Retail Lockbox

Hispanic Businesses

Asian Businesses

American Indian and Alaska Native Businesses

Women-Owned Business Enterprises

Veteran-Owned Businesses

Native Hawaiian and Pacific Islander-Owned Businesses

Nonprofit Organizations

Discussion

5. Marketing Analysis and Strategy

About This Chapter

After Studying This Chapter

Segmentation, Targeting, and Positioning

Market Segmentation

Targeting and Positioning

Consumer Decision-Making Process

Using the Marketing Mix

Product

Pricing

Place/Distribution

Promotion

Customer Relationship Management

Customer Value Proposition

Customer Share

Customer Lifetime Value

Social Customer Relationship Management, Online Marketing, and Social Media

Creating a Web Presence

Case Study 4 / Bunky Boutique

Search Engine Optimization

Social Media

Maintaining the Website

Marketing

Discussion

6. Research and Data Gathering

About This Chapter

After Studying This Chapter

Research Process

Does the Research Meet the Objective?

What Information Is Needed?

Are Secondary Data Available?

What Methods Will Be Used to Collect Data?

What Are the Breadth and Accuracy Required?

Who Are the Users of the Research?

What Are the Costs and Benefits of the Research?

What is the Value Added?

Secondary Research

Budgeting Time

Using the Library Effectively

Evaluating Research

Consumer Data

Competitive Information

Small Business

Industry or Trade Associations

Social Media

Primary Research

Preliminary Research

Refine the Purpose

Who Is to Be Surveyed?

What Do You Need to Know?

Type of Survey

Formulating the Questions

Ordering the Questions

Pretest the Survey

Evaluate the Research Process

Service Firm Surveys

Checklist for Conducting a Survey

Qualitative Research

Focus Groups

One-on-One In-Depth Interviews

Case Study 5 / Explorer West Middle School

Ethnographic Studies

Observational Studies

Discussion

7. Business Processes

About This Chapter

Relationships Between the Balanced Scorecard and Business Process Analysis

After Studying This Chapter

The Balanced Scorecard

Small Business Adoption of Technology

Business Process Management

Who Are the Customers and What Do They Value?

Target the Critical Processes

Who Owns the Process?

Case Study 6 / Soul Carrier

Other Methods of Business Process Analysis

Service Blueprint

Discussion

Case Study 7 / Flowers on 15th

8. Accounting and Financial Analysis

About This Chapter

After Studying This Chapter

Accounting Analysis

Setting Up Accounting Systems

Order Processing and Fulfillment

Purchasing Disbursement Cycle

Financial Analysis

Income Statement Analysis

Balance Sheet Analysis

Cash Flow Analysis

Accounting and Financial Metrics

Financial Projections

Case Study 8 / Green Cleaning Seattle

Payback Period

Net Present Value

Return on Investment

Internal Rate of Return

Sensitivity Analysis

Financial Plan for a New Business Opportunity

Breakeven Analysis

Cost-Benefit Analysis

Benchmarking

Discussion

Epilogue | The Final Client Oral Presentation and Written Report

About This Epilogue

After Studying This Epilogue

Preparing for the Final Presentation and Report

Developing Effective Findings and Recommendations

Prioritizing Recommendations

The Action Plan

Measuring Results

Communicating Results

The Presentation

The Final Report

Display of Data

Suggested Elements of the Final Report

Style, Layout, and Presentation

Discussion

Index