Loops: The Seven Keys to Small Business Success - Hardcover

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9780071624879: Loops: The Seven Keys to Small Business Success

Inhaltsangabe

Why do some smallbusinesses succeed whileothers fail?

That is the question one young entrepreneurfaces in this illuminating business parablefor our times. Loops reveals the soul-searchingstory of Tony, a business student whodoesn't understand why he can't quit schooland work in the family business.

Then his professor surprises him with an unusualfinal exam-a twelve-week, summer-longstudy of the small businesses in his localarea. This simple real-world assignment opensTony's eyes to the most important lessons anentrepreneur can learn, such as how to:

  • Manage "experience zones"
  • Build strong customerrelations through "visionmoments"
  • Standardize key processesfor employees
  • Innovate, improve, andmaintain quality
  • Accomplish real results by"closing the loops"

As you follow Tony's journey, you'll receivea week-by-week crash course on theseven essential loops for small business.You will learn how to distinguish yourselffrom the competition, improve your operations,and close the loops. Best of all,you'll discover innovative ways to apply theloops concept to every challenge you face,with every endeavor, in any economy.

When you close the loops, you open thedoor-to limitless opportunities.

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Über die Autorin bzw. den Autor

Mike Chaet, Ph.D., a.k.a. "The Club Doc," is the founder and president of CMS International, the fitness industry's largest consulting firm. A lecturer, author, and consultant, he has been involved in the development and management of over 2,500 clubs and small businesses worldwide.

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“Every small business owner can significantly benefit fromthe LOOPS approach to small business.”
—Steve Dee, former president, Wyler’s Foods

WHAT ARE “LOOPS”? Loops are the essential keys to success in any smallbusiness. They are the relationships you build. The services you perform. Theproducts you deliver. If you want to thrive in today’s economy, you need to closeall the loops:

Loop One: Manage Your Experience Zones
Loop Two: Build a Winning Culture with Vision Moments
Loop Three: Help Execute Fundamentals with a Loops Group
Loop Four: Standardize Every Process
Loop Five: Innovate Constantly
Loop Six: Live in the Real World
Loop Seven: Lead by Example

Legendary small business consultant Mike Chaet and bestselling Fish! coauthorStephen Lundin combine years of hands-on experience with a refreshingly simple conceptthat goes straight to the heart of successful entrepreneurship.

Relating the personal journey of a young man entering the world of small business,the authors explain how to close the seven essential loops that really matter—the commitments that build trust, the innovations that improve service, and theday-to-day routines that deliver real results.

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LOOPS

The Seven Keys to Small Business Success

By Mike Chaet, Stephen C. Lundin, Vince Moravek, Mary Chaet

The McGraw-Hill Companies, Inc.

Copyright © 2009 Mike Chaet, Ph.D. and Stephen C. Lundin, Ph.D.
All rights reserved.
ISBN: 978-0-07-162487-9

Contents

Acknowledgments
Introduction
Implementing Loops in Small Business
PART ONE • The Journey Begins
The Last Day of Class
An Unexpected Meeting
The Summer Plan
A Conversation with Dad
PART TWO • The Seven Essential Loops
Loop One: Manage the Experience Zones
Loop Two: Build a Winning Culture
Loop Three: Monitor the Fundamentals
Loop Four: Standardize Every Major Process
Loop Five: Innovate
Loop Six: Live in the Real World
Loop Seven: Lead by Example
PART THREE • The Final Loops
Two Meetings: One Expected and One Unexpected
Loops, A Common Thread
Senior Year; Entrepreneurship 201
The Final Examination
Language of Loops: A Glossary
Model of Loops: The Loopogram
Closing Loops: Mary's Seven Lessons
More about Loops
About the Authors

Excerpt

CHAPTER 1

THE JOURNEY BEGINS


Just as all business starts as small business, all business leaders start asstudents. We must never lose the openness to surprise, discovery, and adventurewe had as young students.


Last Day of Class

Tony Simms was restless. At the front of the classroom, the good Professor Daviswas working hard. It was the last class session of the school year, and aheadwere finals and a full three months to do something other than sit in classes,read books, write papers, and take tests. The students in Entrepreneurship 101were ready to escape, and the good professor was trying to make a few finalpoints by summarizing the highlights of the semester's studies.

The students were unaware of the fact that their final exam would leave many ofthem with their mouths hanging open. It would be a final exam unlike any theyhad ever taken. Professor Davis wondered how it would be received.

This last class in entrepreneurship wasn't going well at all. The studentsseemed preoccupied, perhaps thinking of their summer jobs or the loomingincrease in leisure time. They were entrepreneur students after all, perhapsmore wired for action than for sitting.

Tony's mind was contemplating an old issue. He was finishing his third year atCarroll College, majoring in business, and for three years he had wondered whyhe was in school and not working full time in the family business. He was havingthose same thoughts today, even though it was the last day of class.

His mother reminded him often that it was his dad's wish that he be the first inthe family to get a college degree. So here he was, a good student, but hewanted to be somewhere else. He reminded himself of his personal commitment tomake the most of his time in school regardless of his preference to be working.But his mind wandered anyway.

Is this really what dad wanted? Mom is certainly capable of running theshow; she's been doing that successfully since dad died and was his partnerbefore the accident. But I know I could be of more help to her. I'm not surethat dad thought about this. Did he anticipate that she would double the size ofthe business? I could be working full time and taking courses on the side. Ienjoy learning, but I should be helping mom.

The sound of chalk against slate drew Tony back to attention, and he read whatProfessor Davis had just written on the board:


The Customer Is Always Right

"The business world is full of aphorisms. This statement is perhaps the mostcommon. The customer is always right. But in business school we try tolook beyond the obvious and think for ourselves. Is this statement true?"

Half a dozen hands went up.

"Simms?"

Tony wasn't surprised when Professor Davis called on him for a seemingly obviousanswer. He knew Tony was having trouble deciding on a topic for his seniorthesis, and there was the fact that Professor Davis had been a lifelong friendof his dad and was scheduled to be on that ill-fated chartered plane three yearsago for their annual fishing trip to Canada. Professor Davis's wife, Betty, gotill, and he reluctantly decided to skip the popular annual fishing trip andremain at home. Tony had a vivid memory of his dad reassuring Professor Davisand telling him, "There's always next year Rob! You take care of Betty."

"True," Tony replied after a slight pause, "and not true. Because evenif he's wrong, it accomplishes nothing to make her wrong, so he is right." Good-natured laughter filled the room at his wise use of gender.

"Clear, concise, and whimsical as always, Tony," Professor Davis said. "Care toelaborate? What happens when it's obvious to everyone that the customer iswrong?"

Tony thought about how he had seen his father and his mother handle customers atthe family chain of fitness centers.

"It's not that the customer is really always right. It's ourpredisposition that the customer is always right. It's with thatpredisposition that a good businessperson approaches every customer interaction.And if the customer turns out to be wrong, we still try to make it right."

Tony continued, "There is, of course, one big exception. The customer is notright if she or he is acting in an abusive, crude, or offensive manner with anemployee or another customer, even if he or she is right about the issue.Abusive customers we can do without because our employees are our firstcustomer."

"Spoken like someone who has spent some time in the trenches," chuckledProfessor Davis. "What does Tony mean when he says the employee is the firstcustomer? Ping?"

Ping paused, and with a quick movement of her head, she tossed her luxuriousblack hair back so that her face was fully visible, smiled, and responded,"First, I want to compliment Tony on his sensitive nature when it comes to therole of women at work. I am sure that all the women in this room deeplyappreciate his use of language ... and would like to know him better." With thatshe glanced at Tony with a faux temptress smile, and Tony turned a bright shadeof red.

Tony and Ping had known each other since grade school, and their rivalryfollowed them to college. Lately, Tony had felt completely outclassed by Ping onseveral occasions. This was one of those occasions.

Professor Davis commented quickly, "Ping. I know it's springtime, but could weget back to the point, please?"

"He means that if we want to take care of customers, we have to take care ofthose who take care of customers. I remember seeing a film about SouthwestAirlines, and the president of Southwest at the time, Colleen Barrett, was realclear about this point when she said that employees are our firstcustomer."

"Thanks, Ping. You've said it well. Our employees are our first customer," andthe good professor went on to further illustrate this point and bring the classto a...

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