Changing your business model with the BizGrowth CHALLENGE

Have you ever thought: “I wish someone would do something to improve the economy?” Well, that time has come, and you and I can be the catalyst to do something that will make a difference and improve the quality of life here in the Mariana Islands. The economy is built on the backs of businesses, and if enough businesses make a concerted effort to grow their business, then the overall economy will also improve by increasing revenue, creating new jobs, and paying more in taxes to fund community programs and services.

There are many benefits that come from living on Saipan, Tinian, and Rota, but they’re often overshadowed by the worsening economy. There have been too many business closures, the government continues austerity measures, most business owners have reduced expenses to the bone, and many are making plans to shut down. However, I believe there is still hope if we can work together.

My motivation for starting the BizGrowth CHALLENGE, and hopefully your desire to participate as a businessperson, farmer, or someone wanting to start a business, is to continue to make this a wonderful place to live and raise our children. The BizGrowth Symposium on Wednesday and Thursday is just the beginning of a 12-week program to provide ongoing assistance to your business. I’ll be doing everything on my part to help you grow your business. Plus, I’ve assembled numerous programs, individuals, activities and resources that will assist your business to move to the next level of growth. The CHALLENGE is fully guaranteed so the risk is totally on me to prove its effectiveness, but it will require some effort on your part to work ON your business, not just IN it to grow your business and realize results.

Here is just one example why I am so confident that your business will be able to achieve sustainable growth by fully participating in the CHALLENGE. There are three major components that make up your Business Model: 1) Who you serve—customers, 3) What you serve your customers—products, and 3) How you serve your customers—operations. A simple shift or change in one or more of the three components will change your business model and also the results you produce.

As you can see, the common element in all three areas focus on serving your customers; therefore, any change that allows you to serve your customer better will make a difference in your sales and profits. One of the things you will examine is the strength of your Unique Strategic Advantage, or USA. This requires you to identify the customers you now serve and those you would like to serve in the future, the benefits your products offer them, and how you operate your business in a way that adds value to the customer’s life by being friendlier, faster, or more fun and convenient than the competition. Once you’ve identified your USA, you will be able to change your business model and better serve your customers. Here are some other ways the CHALLENGE will help improve your business model:

Receive a detailed report each week that provides numerous ideas in the 12 critical areas that cover the pre-transaction, transaction, and post-transaction phases of customer service.

Learn how to create a simple plan that helps you identify and accomplish activities that will improve your business model and increase your sales and profits.

Provide numerous ideas, examples, techniques, and tools that will help improve your business model and cause you to become more innovative. Innovation is critical to sustainable growth because it allows you to serve your customers better now and in the future.

The Symposium starts on Wednesday, June 22nd by focusing on new businesses and farmers. This free, half-day session at the Multi-Purpose Center starts at 8:00am and will have a general introduction before splitting into two groups. One group will allow individuals to get a business license and then learn how to get a fast start in business. They will also be invited to join the Outsourcing Network to offer their skills and services as an independent contractor to others.

The other group will be led by CREES staff and will cover these topics for those who own a farm or want to get started in farming with these topics:

8:50: “Opportunities in Aquaculture” by Michael Ogo (Aquaculture Specialist)

9:20: “Economic Advantages of Integrated Pest Management” by Marisol Quintanilla (Entomologist)

11:10: “WSARE Projects funded in the CNMI over the Years” by Allan Sabaldica (Animal Scientist)

Be sure to attend the full-day training on Thursday at the Multi-Purpose Center. The $97 cost includes two tickets to the training and full participation in the 12-week program. If you just want to attend the training, it is only $30 per person. The morning session covers topics discussed in this article as well as other topics to get you off to a fast start. In the afternoon, you will be able to choose from multiple topics in three one-hour training sessions. Some of the topics include: Accessing the millions in grants and other funding sources for businesses, applying for a loan, bookkeeping, human resource issues, motivating staff, and personal financial management.

To join the CHALLENGE, go to www.SaipanBestLiving.com and get listed on the website and receive the Strategic Growth Plan right away, or you can wait and register on the day of the BizGrowth Launch Symposium on June 23, 2011, (you’ll save $20 by registering online prior to June 22). If you have any questions you can email me at RikVillegas@gmail.com or call 321-7458.

[I]Rik is the creator of the BizGrowth Challenge that assists businesses to achieve sustainable growth. He can be contacted at RikVillegas@gmail.com, and you can comment on this article at http://rikv.blogspot.com. To participate or learn more about the BizGrowth Challenge go to www.SaipanBestLiving.com and download the PDF.
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