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
