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Session Title: Growing Your Business in the Current Economic Context
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Panel Session 805 to be held in Sebastian Section L3 on Saturday, Nov 14, 11:50 AM to 12:35 PM
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Sponsored by the Independent Consulting TIG
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| Chair(s): |
| Patricia Bourexis, The Study Group Inc, studygroup@aol.com
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| Discussant(s):
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| Patricia Bourexis, The Study Group Inc, studygroup@aol.com
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| Abstract:
This presentation will describe the specific strategies used to grow a small, independent consultant business into a viable corporation that continues to expand, despite the current economic climate. Critical business principles will be highlighted that have proven successful in the growth and development of an education-focused evaluation small business. Participants will gain an understanding of how the business started ten years ago as a "one-woman show" and grew in stages into a corporate business structure with the associated labor, legal, financial needs and requirements. Topics panelists will address include: ensuring ongoing mentorship from a senior business owner; the importance of professional development for all employees; contract, project and time management; diversifying the business portfolio; implications of technological innovations given the current evaluation and economic context (e.g., travel restrictions); and handling cash flow and sleepless nights.
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The Life Cycle of a Small Evaluation Business
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| Patricia Mueller, Evergreen Educational Consulting LLC, eec@gmavt.net
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The President of this small business will outline how she started the business ten years ago as an independent consultant. Topics addressed for this initial life cycle of the business' development will include: developing a business plan, strategic focus, marketing strategies that worked and failed, and the impact and importance of having a business mentor. The presenter will then address the more current life cycle issues and concerns as the business expanded. Topics will include: employees and managing the work of others, business philosophy,and capacity issues related to time, personnel and technology. Dr. Mueller's company, Evergreen Educational Consulting LLC, primarily evaluates education grants at state and local levels.
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Components of Business Expansion
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| David Merves, Evergreen Educational Consulting LLC, djm@gmavt.net
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The Manager and Evaluation Associate for the business will discuss: the technological, communication, legal, accounting / financial structures necessary to maintain a viable corporate entity; what type of business structure is best for the independent consultant managing cash flow; and utilization of technology for communications, reporting and meetings. The presenter will then discuss the process of delegating and prioritizing the work in a growing business. Mr. Merves has an MBA in Operations Research and spent 30 years in the corporate hospitality industry. His experience in expanding / growing businesses in new markets under varied economic conditions will provide insight to pitfalls and positives for the emerging independent consultant.
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