Bob wants to be confident - Ladder UP

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Bob wants to be confident - Ladder UP by Mind Map: Bob wants to be confident - Ladder UP

1. There's a lot riding on the business

1.1. Bob put most of his wealth into the business

1.1.1. He views it as a secure business

1.1.1.1. It's tangible

1.1.1.2. It's recession proof. Valuable regardless of circumstance

1.1.1.2.1. Customers want to drink when life is good and bad

1.1.1.2.2. Customers identify with beverage brands which will does not change quickly

1.1.1.2.3. Regulations create problems but also provide protection

1.1.1.3. It's something he can control

1.1.2. He doesn't like the stock market

1.1.2.1. He views it as dishonest

1.1.2.1.1. Being connected to the value you're creating is good. IE; I do good work, I get paid.

1.1.3. Inventory / product is expensive. The inventory you have might be worth more than the store.

1.1.3.1. There is a temptation to buy a lot of it due to "deals". Supplier incentives

1.1.3.1.1. The difference between a rich store owner and a poor one can be 1% profit margin

1.1.3.1.2. You want suppliers to like you.

1.2. His identity is tied to the business. If the business fails, he fails.

1.2.1. Bob is a regular but responsible drinker. His friends drink. It's a core part of their culture.

1.2.1.1. What Bob drinks defines him more than average. He takes it seriously

1.2.2. Bob likes the industry

1.2.2.1. It's fun and he gets to sell a fun time to his customers

1.2.2.2. Bob is a little rebellious and views the industry as that as well

1.2.2.2.1. He associates selling something you shouldn't do with freedom and liberty

1.2.3. The store is a reflection of him and his family

1.2.3.1. Because people that know Bob, know he's independent minded

1.3. Bob knows that many of his employees and their families rely on him and the business. He takes that seriously.

1.3.1. He can be paranoid, but he gives a crap out the people he works with.

1.3.1.1. He's seen it all. I knows what it's like to suffer. While he has a rough exterior, if he can he'd like to help others avoid it.

1.3.1.1.1. Under the hard candy shell, Bob is a good person

1.3.1.2. They are part of this community

1.3.1.2.1. He cares about his community

1.3.1.3. They are important to the business. They help him

1.3.1.3.1. One good employee can have a huge impact

1.3.1.4. He's in close proximity to them. He knows them on a personal level

2. The business supports Bob's ego. It's who he is.

2.1. Doing hard things that benefit himself and others is linked to the meaning of life.

2.1.1. The easy way is probably the wrong way

2.1.1.1. The American dream is about starting from nothing and working hard.

2.1.1.1.1. Bob loves America

2.2. Bob believes that underdogs are important.

2.3. Bob believes that small business is economically and culturally important.

2.4. Bob loves the concepts of liberty and freedom

2.4.1. Bob likes to feel in control

2.4.2. Bob views these and key American culture concepts

3. Bob is paranoid.

3.1. He's seen it all. Being a small business owner is a dangerous thing

3.1.1. Customers have stolen from him

3.1.1.1. The product is highly sought after

3.1.1.2. The product is small

3.1.1.3. The product can attract a bad crowd

3.1.1.4. As a small business owner they view security measures to be less than big box

3.1.2. Employees have stolen from him

3.1.2.1. They view Bob as rich

3.1.2.1.1. They see how much cash is in the drawer

3.1.2.1.2. They do not see the bills

3.1.2.1.3. They believe they deserve more than they are getting

3.1.3. He's lied to on a daily basis

3.1.3.1. Employees can be unreliable

3.1.3.1.1. Working in retail is hard

3.1.3.1.2. Working in a liquor store can be unsafe

3.1.4. Regulatory risks

3.1.4.1. Government taxes him heavily

3.1.4.1.1. Liquor has a "sin tax"

3.1.4.2. Road construction and put a good store out of business

3.1.4.3. Liquor licenses are controlled by the city.

3.1.4.3.1. They are limited

3.1.4.3.2. They can be revoked (selling to minors)

3.1.5. He's been sued

3.1.5.1. Someone pretended to fall in the parking lot

3.1.5.1.1. They viewed him as someone with enough money to pay but not enough money to protect themselves from a lawsuit

3.1.5.2. Bob's employee didn't do a good job cleaning up and someone fell

3.1.5.2.1. Because they were not well trained

3.1.5.2.2. Accidents happen

3.1.6. Vendors have oversold him on product

3.1.6.1. Some sales people will put themselves far above the customer

3.1.6.1.1. Vendor sales people get paid based on commission

3.1.6.2. The government audits him regularly

3.1.6.2.1. The cash nature of the business creates more opportunities for tax evasion

3.1.6.3. Because they didn't know how much product Bob needed

3.1.6.3.1. Because their data was bad

3.1.7. He has real safety concerns in his business

3.1.7.1. His business was the target of riots!

3.1.7.1.1. Desirable products by a group of people that is more prone to crime.

3.1.7.2. Liquor stores are one of the most common businesses to be robbed

3.1.7.2.1. Cash heavy business

4. Bob has limited time resources

4.1. I wears a lot of hats

4.1.1. I cannot find enough staff to do it all

4.1.2. There is some work I do not want to share with others

4.1.2.1. I like doing it

4.1.2.2. It makes me vulnerable

4.1.2.2.1. It opens doors for people to steal

4.1.3. I have limited capital to hire more people

5. Bob has limited capital resources

5.1. I bought more inventory than I should have

5.1.1. Profit margin on deals is clear cut. Investments in other things are less clear - so I go the easy route

5.1.1.1. Making and trusting the analysis is hard

5.1.1.1.1. Taking risk when it's your money is scary

5.2. I am a small business

5.3. I do not like borrowing money

5.4. Profit margins are small

5.4.1. I couldn't buy all the deals I want

5.4.2. I do not have some of the higher end margin products I want

5.4.2.1. I do not have space in my store

5.4.2.2. I do not know what those products are

5.4.2.2.1. I can only trust what my suppliers tell me to some degree

5.5. Beer is sold cash upon delivery

5.5.1. It's required by state law

6. Lack of confidence hinders Bob's ability to lead

6.1. People working in a small business need strong leadership

6.1.1. To make up for the lack of confidence that a big business would instill

6.1.2. It's easier for employees to put people separated by layers in an organization on a pedestal

6.1.2.1. Being in proximity humanizes Bob (for better and worse)

6.2. Perceived mistakes made by Bob are under a microscope

6.3. Bob losing one good employee is a big deal

6.3.1. He only has a small workforce. One good person out of 10 could be carrying 15% of the load

6.3.1.1. In some cases the team is not well trained

6.3.2. There's no slack in the system. If one person quits Bob is covering the shift. It sometimes means skipping an important family event to work

6.3.2.1. Bob is money sensitive

6.3.2.1.1. The money comes out of Bob's daughters college fund. Directly out of his pocket.

6.3.2.1.2. He has and does work very hard for what he has.

6.3.2.1.3. A lot is riding on the business and there is a lot of risk

7. WHY?