25Oct



Warning: this article reveals an essential strategy that must go in your business plan for small business success. After working with 146 businesses of all sizes I have noticed an inherent difference between success and struggle.

Virtually every sustainable long term enterprise inserts into their small business plans this key strategy. Without fail, most struggling enterprises do not implement this key tactic. So what is the strategy?

Essential Strategy to include in your business plans for small business success.

Stay in touch with prospects and past customers on your database at least every 90 days or less. Now it can be as frequent as weekly, fortnightly, monthly but never more than 90 days.

How do you do this? Well the very first step is to collect all contact data and have a simple database to put them in. Worldwide database management software such as Goldmine and Act are good possibilities for smaller business. Larger businesses will need more sophisticated industry specific versions.

Burn this saying into your mind: “More contact equals more sales.” The reverse is also true: Less contact equals less sales.

In the 21st century a new paradigm of successful business communication has emerged and it does not matter what industry you are in. After all, we are all human beings with wants and needs. Our past and current customers deserve our attention.

If you do not stay in touch with your past or current clients at least quarterly, there is a high percentage chance they will become someone else’s (your competitors new customer).

So this must do strategy no matter what business you are in, is critical to your success. Include it in any business plans for small business success.

8Sep



Whether you have small business ideas you plan on implementing or you have been operating a small business for some time you need a focused business plan. It is your guide to success and without it you are planning to fail.

Your business plan needs to be a live document that is in constant development and is continually checked and updated, You must know if you are meeting your goals and if you do not continually check your business plan it can not work for you. Your business plan will allow you to make the needed changes to adjust to your small business growth or lack of growth.

The basic outline of a business plan is to detail the systems you will use and the task that are needed to accomplish your goals. By reviewing your business plan on a monthly basis at first you will be able to check your progress or lack of it. Once your business is up and running inn the direction you desire you may want to revise the time you review your plan. If your small business is progressing the way you planned and growth is steady checking your plan quarterly might be a good choice.

At first financial goals should be small. Although small they should be accomplished in the time frame you set. The initial small goals are as vital to your overall plan as the larger goals you have set for later dates. If your plan is working correctly in the early stages you will be able to determine if the complete business plan is achievable. Make sure that each goal is achieved as planned.

As in most aspects of life the best of plans can fail. You must ask yourself two questions. 1. Did you complete each goal in the time period you set. Were you able to achieve some of your goals but not all of them.

2. Were you able to use the systems you put in place and did they work as planned. Some of them will have met the goals you set while others did not.

Look carefully at your answers and analyze them. You will have systems that worked correctly and performed as expected. Keep those and continue working with them. The will also be systems that did not meet the goals you had set and the plans you had made. Look at these systems and find why they did not work.

You need to know why they did not work, if the system was flawed, were there steps in the system you may have missed. In answering those questions you can adjust future plans to accommodate errors that may have been made or discard the system completed and replace it with a new one.

A good solid business plan will continually improve and adjust. Adjusting and manipulating your plan for future growth will not only improve the effectiveness of your plan it will insure continued growth of your business.

Along with helping to build your small business ideas a business plan can give you confidence. A business plan is like a silent partner that helps keep your business on track.

13Jul



What does it take to convey your idea to financiers?

- How will you organize all that information? What you need is a clear outline and focus.

- First you must identify your audience. Who are your potential stakeholders.

- Rank them according to importance, but most importantly have a plan on how they affect your future business.

In terms of an effective and well accepted layout, the following is a good start.

Business Plan Layout

Executive Summary – Who are you and what are you planning to do?
List of managers, key people involved, roles and experience.

Company – Where is your company located and what’s your specialty?
Area located, physical, distribution etc.

Product or Service – what is your service and why is it better.
You need to provide greater value than currently in the market.

Market – Who are you distinctly selling your product to and why will they buy it?
Is it because of price, service, new technology?

Competition – Who is your competition in terms of product, pricing and placement strategy in and outside of your local area?
How do you differentiate from competition in order to maintain long-term staying power and drive customer choice.

Sales and Marketing – How, where, when and to who are you going to sell your product or service and what makes it special?

Operations – Who will be operating your company, managing and what systems will be in place?

Financial – How much money do you need to operate your company in the next 6 months to 5 years?, How will you spend it specifically?
Break it down into short and long term finances, fixed and non-fixed assets. Can you lease products?

Appendix -pertinent information, contracts, references, etc.

Business Growth Coaching Solutions @2005

11Jun



Creating a small business marketing plan as a subcategory of your overall business plan is vital for evoking and accelerating business growth. When you have a plan, you are able to focus on the right things at the right time and measure your progress toward a goal.

Many business owners are resisting planning. When you’re running a business, you can easily be consumed by your day to day responsibilities. But failing to plan can be a great mistake.

Now, what is the essential function of marketing? To generate qualified sales leads. There are any number of methods that can be used to do that but how do you know which methods to use if you don’t have a plan?

And how do you know what your lucrative marketing activities are? How do you invest in those activities if you don’t know how big your budget is, or know what results you are trying to produce?

A marketing plan doesn’t need to be a huge document. First, start with your business goals for the next six months. You should already have these, for example your target revenue, if nothing else.

Now, what marketing goals align with those business goals? Ok, you want to make 100k. How many leads do you need to generate in order to allow your selling activities to close the deals necessary to reach this revenue target?

Next, what marketing strategies are necessary to meet your business goal? Will you need to get more publicity? Expand into a new market? Reach more people in your current market? Create a direct mail campaign? Create sales partnerships?

You must pick one or two that deliver on what you are aiming for and hit your target revenue. Now, determine what specific activities will achieve your strategies.

At this point it gets a little bit tricky. You must choose from a vast pool of marketing options/activities and you must choose the activities that will work best for the potential customer you want to reach. You might need to participate in trade show events where you get face to face with your market.

You might need to launch a new website, you might need to implement a referral program for current customers. The list goes on and on.

Whatever your activities are, put them together into your plan and create target metrics (e.g. number of leads collected, number of prospects you talked to, etc).

Finally, you end up with your marketing plan.

The next step, your sales plan, tells you how the leads generated by marketing will be converted to customers, and how back end sales will be made to those customers. Sales metrics include conversion rates, overall revenues, or revenue per customer/per square foot/per time spent in the store, etc.

The great thing is that now you have something to measure against and you can review things periodically to see if you are on track or if something needs to be adjusted.

This process or call it small business marketing plan, doesn’t need to take a lot of time but the benefits to your business can be huge. Having a plan will give you a lot more insights into your well oiled business machine or parts of your business that need some tweaking.

18May



We all know that each and every business around are vigorously looking for more avenues for business growth and expansion; hence they find the need to generate more potential leads in every means possible. If you are one of these businesses, then you might want to consider telemarketing.

Telemarketing allows a chance for your business to obtain more leads using the telephone, as a very powerful tool for marketing. Oftentimes, these businesses find themselves in a sticky situation as they search for the right human resource to perform this aspect of their business. It can be a daunting task especially that inexperienced and unscrupulous freelance telemarketers can ruin your company and brand’s reputation so instantaneously that there’ll be no more room for recovery. Not to mention the possibility of a very long-term damage. You do not want this to happen to your business, right?

By picking an expert telemarketing company, you will never run into aforementioned risks. Outsourcing the work to skilled and inexpensive telemarketing firm will surely unload your burden tens or even thousands of time over. You can rest assure that they will be able to use proven telemarketing techniques, be results-driven, utilize top notch technology, to the end that you will acquire needed data and sales conversions in a flash.

As a business owner utilizing telemarketing services, you need to observe the do’s and don’ts of the business. The mistakes made by most telemarketing companies can be avoided by doing an exhaustive market research prior the actual ‘telemarketing’ stint. In telemarketing, timing is everything. The downside of the business is when telemarketers do not know the exact right time to make the ‘call.’ Wherever you may be, always observe the laws surrounding this business practice to avoid being in a problematic situation with the authorities. These laws and edicts are made specifically to regulate the phone calls made by these service providers. One of the major complaints would have to be calling too early in the morning, or rather too late in the evening which can be a cause of great inconvenience for the party called. Also, check the do not call registry of the place for your guidance and have these numbers removed from your list of prospects to call. Ethically speaking, good business practice requires you follow the law to the letter, avoid people who do not want to receive calls, and market only to a certain group of people or consumers who’d truly be interested with what you’re selling otherwise, all of your efforts will be rendered futile. Ensure that the company observes these standards and that they pay close attention to details.

So, there you go, you have the basics of a sound telemarketing service practice. It is up for you to utilize and outsource your telemarketing needs to a third-party ethical telemarketing firm to save you up on time and effort as well as earn you more money to keep your business rolling.

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