Creating Sustainable & Adaptable Businesses Copies available at www.norark.com

1. Creating Sustainable & Adaptable BusinessesCopies available at www.norark.com Presented by: NorArk Executive Group -Norman Gaither, President ngaither@zoominternet.net on the web: www.norark.com 410-952-4506

2. Must Have(s) • Good business Accounting (either internally or externally) –accounting provides the metrics required for a sustainable business. • Reports you can understand and act upon. • Marketing expense: Does it yield target clients? • Check every line item to assure it is essential to adding value to your business. • P & L (Profit and Loss) –Are you offsetting expenses with revenues? • Statement of Cash Flows –Are you flowing cash for operations? • Balance Sheet –What is the net value of the business (Assets, Liabilities, Owner’s (and/or Shareholder’s)Equity? Owner’s Equity =Assets –Liabilities (What you got minus what you owe). • LEAN organization • Remove all non-value added activities. • Clutter and disorganized activities are not things the client wishes to pay for. (Consider 5-S [Sort, Set in Place, Shine, Standardize, Sustain]) • Remove redundant and unnecessary steps in operations and concentrate on how to deliver your services and products on-time at top quality. • Look at your constraints. • Flow out what processes currently exist and remove the activities that waste time and resources. • Create systems that are error-proofed. • Be pro-active first. (Planning first before reacting). PDCA, DMAIC (Define, Measure, Analyze, Improve, & Control) –support verbally, but make sure you write it into policy.

3. Must Have(s) • Professional Presence • In your Marketing • In your preparation • In your public persona • Adaptable Strategies • Sometimes a single path (focus) works; however, sometimes alternative paths are required when things outside your control are unstable –consider alternative paths for: • Economic instability • Regulatory uncertainty • Unknown budget constraints on your customer’s purchases. • Emerging competition

4. Adapting • Assume that the way you do business each new year will be different. • Talk to your clients – then see if your strategy reflects their needs. • Look at clothing trends – Don’t go drastic; go gradual. • Look at music trends –top hits in your target demographic may reflect how your customer is changing. • Look at the news – What’s pressing in the world is often reflected in your customer’s buying habits. If you see a slow down –start looking at ways to mitigate your cost. If an economic surge is imminent -meet with your team and discuss how to handle additional opportunities. • Do your homework and research. Check and double check your submittals and your pricing structures. Do you know your burden cost?

5. Training • Knowledge sells ! • Every person in your organization should understand the value of a “smiling voice.” • Every person should be able to present your company in a few descriptive words, “We provide…..” • Take the time to train your managers as leaders. • People leave people….create an organization of trust. • Every employee, at every level, needs to fully understand your product and/or services.

6. Create Balance in your Life and you will create balance in your business. • If you are in personal turmoil, it will be reflected in your business decisions, whether you try to suppress it or not –it shows up. • The (4) pieces to a balance in business and life: • Professionalism • Knowledge • Pleasure • Generosity