Loops: The Seven Keys to Small Business Success
Stephen C. Lundin, Vince Moravek
Why do some small businesses succeed while others fail?
That is the question one young entrepreneur faces in this illuminating business parable for our times. Loops reveals the soul-searching story of Tony, a business student who doesn’t understand why he can’t quit school and work in the family business.
Then his professor surprises him with an unusual final exam― a twelve-week, summer-long study of the small businesses in his local area. This simple real-world assignment opens Tony’s eyes to the most important lessons an entrepreneur can learn, such as how to:
- Manage “experience zones”
- Build strong customer relations through “vision moments”
- Standardize key processes for employees
- Innovate, improve, and maintain quality
- Accomplish real results by “closing the loops”
As you follow Tony’s journey, you’ll receive a week-by-week crash course on the seven essential loops for small business. You will learn how to distinguish yourself from the competition, improve your operations, and close the loops. Best of all, you’ll discover innovative ways to apply the loops concept to every challenge you face, with every endeavor, in any economy.
When you close the loops, you open the door―to limitless opportunities.
to see a big red arrow pointing to a specific underlined name on the staff list. Tony was obviously supposed to visit Gladys Thornby, production manager. “10:30 a.m.” was written in red. The Chicago Sentinel Tony should have looked more closely. Gladys Thornby was difficult to locate. After showing up at the Sentinel‘s downtown editorial offices, Tony was redirected halfway across the city to the paper’s new printing and distribution facility in Oak Brook. By the time he found his way
continued, his voice full of pride. “Our patients have a 95 percent show rate, and having the on-call doctor lets us see nearly 100 percent of them within five minutes of their scheduled time.” Tony spent the next hour and a half watching people cycle through the process that anticipated realworld events. When he saw everything that he thought he was going to see, Tony flipped over to a blank page of his notebook and made a few quick notes. One comment that Ben made he tried to recall verbatim:
you will accomplish this objective. 5. Start with the first item on the list, and work your way down. Remember, you need to be going first and walk the talk! PART THREE THE FINAL LOOPS Sometimes loops can appear unexpectedly and carry a powerful emotional charge. These are the loops you will remember for a lifetime. Two Meetings: One Expected and One Unexpected Tony’s summer journey had come to an end. There were still a couple weeks before the beginning of the school year, but he
this task gets overlooked, and when you finally get around to finalizing these details, all the hotels in your area are booked, and now, to complete your task, you either have to change your conference dates or you have to hold your events at two separate hotels in order to accommodate the number of people in your group. Having to use two hotels instead of one now opens up the possibility of all sorts of new problems for you to solve. Wouldn’t it have been easier to confirm your hotel first thing
there will be an assignment in its place. Let me explain. “When you return from the summer, you’ll be in your senior year and facing the need to complete a final thesis before graduation. Our business school has built a reputation for being practical and real-worldbased. We’ll talk theory, but not without a full dose of reality to make the medicine go down. “A large number of you have not yet filed your senior thesis topic, and those who have filed have for the most part proposed topics that