Business Structure & Approach JAYE · 11th November 2017 JAYEMALTA.ORG

AGENDA Motivations/Interests What’s Your BIG Idea? Strengths/Weaknesses Your Company Name? You in 5 years Where is the Vision? 02 JAYEMALTA.COM

MOTIVATIONS GETTING RICH HAVING POWER FULFILLING PARENTS DREAM 15 When mentoring new entrepreneurs, I see so many young people driven by all the wrong reasons. GETTING RICH Although making profits is essential in business don’t do it to impress others HAVING POWER This usually means having power over other people, you can’t do it alone FULFILLING PARENTS DREAM Your parents love you and wish you well always, but this is your life, your happiness 15 JAYEMALTA.ORG

ENPOWERING MOTIVATIONS IT’S TIME TO THINK A LITTLE DEEPER MARK ZUCKERBURG STEVE JOBS OPRAH WINFREY ”It’s not all about the money, most of all it’s about empowering people. ”To be happy you have to do great work. The only way you can do great work is to love what you do. It’s not that I’ve known who I would be. It was just very clear to me from an early age who I wouldn't be. 03 JAYEMALTA.ORG

Internal vs External Motivations Personal Growth/Interests Do it for something bigger than you Enjoy the journey as much as the rewards Make a difference Doing something great Personal Freedom Solve a major problem Help others achieve goals Tap into ”The Force” Continuous Learning Embrace personal growth Reinforce your strengths Improve on your weaknesses Minimize the interests that will limit your potential Set goals 04 JAYEMALTA.ORG

It All Comes Down to Mindset 05 JAYEMALTA.ORG

STRENGTHS VS WEAKNESSES Goal oriented Passionate, with ability to inspire. Persuade & lead others Creativity an idea generator, new ways to solve problems Logical, what’s working and what isn’t Disciplined, organised Not afraid of hard work – working long hours Selfish, insensitive to others needs and wants Unstructured – lax about rules, undiciplined Hyperfocusing – getting lost on minor details Extreme risk-taker – taking risks at expense of others Impatience Apathy, manipluates others do their work for them 08 JAYEMALTA.ORG

Where do you see yourself in 5 years?. 50% of business fail in first 5 years  Balance optimism & reality IN FIVE (5) YEARS Goals setting effective way to stay focused It’s a marathon not a sprint Where do you see yourself in 5 years?. 11 JAYEMALTA.COM

The unique story of your product or service THE ”BIG” IDEA The unique story of your product or service WHAT IS YOUR BIG IDEA? To find the BIG idea you need to do some research, identify your audience. Why? WHAT IS YOUR COMPANY NAME? Come up with a few keywords, narrow it down, test it with your audience WHAT IS THE VISION? At the foundation of every new business is a story about WHY you started the business, WHAT it does and HOW it will effect people and the future 15 JAYEMALTA.ORG

ASSESSING PART 2 https://www.youtube.com/watch?v=l5Tw0PGcyN0 17 JAYEMALTA.ORG

The Offering MARKETING 1 2 3 4 5 09 What does your business do? What do you do best? 1 It helps you build your message & define your audience 2 It helps people understand exactly who you are & what you offer 3 In short, it provides clarity to you and your customers 4 Get this right and it will result in solid growth for your business 5 09 JAYEMALTA.ORG

MARKETING The Market New products/services are launched every day 1 50% of these businesses fail. Why? 2 Market research helps ensure the product launch hits market 3 It also ensures the product idea addresses needs of the customer 4 And for goodness’ sake speak to the customer 5 09 JAYEMALTA.ORG

STEP 1 – KNOW YOUR MARKET MARKETING 1 2 3 09 If you believe you know everything you’re absolutely wrong 1 Understand your competitors too, if you have any 2 Put yourselves in the shoes of the customer, it helps you define their needs & wants and 4 Test it! 3 09 JAYEMALTA.ORG

STEP 2 – WHO ARE YOUR CUSTOMERS? MARKETING 1 2 3 4 5 09 You need to identify exactly who your prospects are 1 Your best customers must already need your product 2 They want to buy it for themselves, friends and family 3 They have expressed a need for it 4 Much easier to fill an existing need than to create one 5 09 JAYEMALTA.ORG

THE UNIQUE VALUE PROPOSITION MARKETING STEP 3 – THE UNIQUE VALUE PROPOSITION What is it that sets you apart from the rest? 1 Understand how to sell and market your product/service 2 Think about sales and distribution 3 What channels will you use? 4 What media channels will you use to communicate it 5 09 JAYEMALTA.ORG

TEST YOUR PRODUCT & PLAN MARKETING STEP 4 – TEST YOUR PRODUCT & PLAN First customer response will make or break product 1 This makes product testing crucial 2 What do customers like, dislike about it? 3 Will they buy it again, buy it for friends and family? 4 Test your marketing message too through focus groups/surveys 5 09 JAYEMALTA.ORG

SWOT Analysis 17 JAYEMALTA.ORG

SWOT ANALYSIS INTERNAL ANALYSIS EXTRENAL ANALYSIS TOTAL EVALUATION 15 IF YOU DON’T TEST YOUR PRODUCT, YOU WILL BE UNABLE TO MAKE AN ACCURATE SWOT ANALYSIS INTERNAL ANALYSIS The SWOT analysis is a useful technique to help understand your company’s Strengths and Weaknesses EXTRENAL ANALYSIS It helps you identify the opportunities open to your business & the threats you face TOTAL EVALUATION It allows you to evaluate the business from every angle 15 JAYEMALTA.ORG

SWOT Q STRENGTHS WEAKNESSES OPPORTUNITIES THREATS Williams 14 The advantages you have? What do you do better? What’s so special about it? The strenghts others see? What will get you the sale? Your unique proposition WEAKNESSES What should you avoid? What could you improve? Weaknesses others see? What will lose you sales? How expensive is it? OPPORTUNITIES Identify good opportunities. Interesting trends Changes in law Changes in technology Changes in lifestyle Events THREATS Obstacles you’re facing Competitor edge Do you have cash flow? Do you have investors? Is product good enough? Changes in law & tech Williams INCORPORATED Q 14 WILLIAMSINC.COM

NEED RESOURCES 1 4 2 5 3 6 What skills/people do you need? What kind of help will you need with strategy? Marketing, financial, technical, other. 2 5 What partners do you need? How much will it all cost? 3 What funds, facilities, equipment do your need 6 Who will be responsible for what? 16 JAYEMALTA.ORG

THANK YOU for your attention 29