Lea A. Strickland, MBA CMA CFM CBM
Out of the Cubicle and Into Business is written primarily for the person that is considering owning a business. Individuals who have a business that isn’t living up to its potential will also find this book informative and an aid to getting things on track. The format is designed to walk the reader through critical questions about the business they envision – what they think, want, and can do; what resources are needed; and what things need to happen to “open the doors”. If you are working for someone else and think you can do it better, if you have a dream of calling the shots, if you are considering exiting the corporate or academic world, or if you have a business that hasn’t achieved the level of success you desire, then this book is for you.
Answering questions from “What type of business do I want?” to “How much money do I need?” the reader is lead through a process of learning about the elements of a business, planning the business, and some of the key financial questions that need to be answered on the way to establishing a successful (profitable) business. Beyond the learning process, the book challenges the reader to think through and document what he or she believes to be true versus what they can validate as true through research, observation, and working on the business design.
This isn’t “theory”, but practical insights, questions, and information on the realities of starting your own business and laying the foundation for success. The questions presented are fundamental and proven questions that businesses need to have answers to in order to succeed. The questions are often deceptively simple, but these questions have been proven through practice to make the difference in success for new companies.
Lea A. Strickland, MBA CMA CFM CBM, is President/CEO of F.O.C.U.S. Resources (located in Cary, North Carolina) a strategic business consulting practice that emphasize financial performance as a result of getting the business focused and aligned to achieve success. Her extensive business experience includes operational and financial leadership roles in companies that include Fortune 5, Global 100, and technology start-ups. She has worked in banking, automotive manufacturing, retail, electronics manufacturing, as well as industrial textile and consumer goods manufacturing. Her current clients include start-ups, emerging “fast” businesses, and established industry leaders in bio-technology, insurance, software, electronics, and other growth sectors.
Her credentials include an MBA from The Ohio State University in Accounting, Marketing, and Human Resources (Change Management), a Bachelor of Science degree in Management and Finance from The University of Charleston, and certifications in management accounting, financial management, and business management. Ms. Strickland has a combination of experience and education, practical application and proven results that has led to her role as a thought leader in the business community. In addition to her consulting role, Ms. Strickland is a writer/columnist for numerous publications, including the national publication Small Business Technology Magazine, as well as Carolina Newswire and the NC Journal for Women. She is also active in municipal government; serves on several not-for-profit and community organization boards; and is a frequent speaker and expert panelist on business issues and processes.
Ms. Strickland’s areas of expertise include: financial and business strategy, project accounting, cost accounting, government grant accounting and funding compliance, financial modeling and forecasting, strategic human resources, and business process alignment.
She can be reached via her website at www.focusresourcesinc.com.
The groundwork for starting the business is laid by determining
- what you wantwhat the business will "be"
- what talents, skills, and experiences you are bringing to the business
- what resources you will need, and
- why you want to launch a business.
Your ability to define your business clearly - what problem or issue your business solves for your customer – makes it easier to begin developing and marketing the company. The ability to deliver on the "promise" of the business is supported by a clearly defined and communicated business concept. Clarity of vision enables you to focus on the specific customers you want to market and sell to. Furthermore, it enables you to generate the "product" (this includes services), identify and quantify the resources needed to deliver it, and seek out AND retain customers.
A clear and defined business vision and a realistic assessment of your role in the business enables you to move forward toward opening day with a road map and a specific “shopping list” of tasks, resources, and team members that you need to achieve the desired result - success.
Many highly successful businesses have been started on ideas other people thought were crazy. Many unsuccessful businesses were started as "sure things." How do you know before you start if your idea is worthwhile? How do you determine if there are already "too many" other businesses out there doing what you want to do? Maybe your concern is that all the players in the business you want are established and have a huge share of the market? How do you decide? How much importance is there in how many competitors and other factors are at play in the business, industry, or niche you want to enter?
The questions above are all valid. There are as many answers to them as there are unique situations. While there are a number of factors to assist you in determining whether or not to start the business and/or which target market to pursue first, here are a few to consider:
Is your business centered on your expertise?
