Strategic Planning

Creating Organizational Values

Introduction
Today more than ever, organizations have an overwhelming requirement to be founded upon strong Values, Ethics and Principles. This becomes even more critical for publicly funded organizations.
All too often, an organization can believe that it is founded upon a set of values that is known and understood by all its employees. When one scratches the surface, it soon becomes clear, however, that much of this ethical, principled foundation is not so well understood and in fact may only exist in the minds of those within the organization.
If one is to insist upon ethical conduct within the organization, such conduct can only be described and assessed against a backdrop of organizational values.
This, then, becomes the starting point for any organization in its efforts to strive for highly principled, ethical employees.
The Process
Moving any organization along the ethical continuum involves some well defined and meaningful processes; not necessarily significant in terms of cost or time but significant in terms of consistency in outcomes, attitudes, organizational commitment and organizational learning.
As the processes evolve, there are dynamic effects on participants in that they develop a sense of ownership or buy-in, and on the organization in that it created an opportunity to test the viability of existing beliefs, as well as form the basis for new, perhaps more responsive and reflective organizational principles.
It has been determined that a very viable methodology that can be employed is that of soliciting the views and opinions of a variety of people and groups in a focus group environment. The groups ought to include members of the following groups:
* Client groups
* Partners
* Community members
* Civilian oversight bodies
* Significant ethnic and/or cultural groups
* Education professionals
* Others
The Foundation
As previously stated, every effort toward moving an organization toward ethical excellence involves either defining, reconfirming or creating the foundation of values.
Frequently, organizations either make comment or at the very least tacitly imply that their people are their most valuable resource. This cannot be simply a catch phrase; indeed, it must be a demonstrable reality within the various levels of the organization.
If the Values of the organization are to be subscribed to by all members of the organization, there must be a process designed whereby the significant levels of the organization will have meaningful, observable input into the creation of the values.
One may be tempted to simply adopt a set of values that appears to fit. With a modest amount of research, the values of a variety of organizations can be obtained and adapted to the organization. Although this may appear to be more effective in the short term, in the longer term, this process has some inherent weakness, not the least of which is a total lack of buy-in and ownership throughout the organization.
A Typical Ethics Project – The Six-Week Plan
Steps:
1. Clarification of Project Charter
2. Collection of external data
3. Focus Group Activity Design
4. Focus Group Activity Testing
5. Focus Group Participant Identification
6. Focus Group Activities (on site)
7. Collation of Focus Group Results
8. Classification of Focus Group Results
9. Draft Values Document
10. Vetting Process – Up, down, across
11. Communications Plan Draft
12. Implementation Plan Draft
13. Implementation Plan Testing
14. Communications Plan Testing
15. Training Strategies
16. Communication, Implementation, Training
Best Practices Review
This entails reviewing information collected during a private sector search of corporate Best Practices.
External Data Collection
This entails amassing information available from sources other than the research mentioned above. This includes Internet search, literature search and other research sources.
Design Focus Group Exercises
This entails the creation of exercises to be utilized during the focus group discussions. The exercises will be designed to solicit information and/or personal views from participants relative to the services being provided, the appropriateness of these services, the clients’ priorities, other points of view, etc.
The intent is to make certain that numerous and varied points of view are solicited from a variety of sources, including stakeholders, clients and partners.
Focus Group Activities
These activities will entail providing the participants with information relating to values statements and other similar documents from the private and the public sectors. They will be asked to translate these values into a form that would be useful to the client organization.
Participants from client group and other stakeholders will be asked to provide the information and points of view relative to public expectations, community priorities, etc., that will be useful in determining the proper focus of the eventual deliverable.
The relationships that need to be analyzed include the following:
* Service-delivery personnel with the client group
* Service-delivery personnel with their supervisors
* Supervisors with Managers
* Managers with Executive
* Executive with CEO
* CEO with Board of Directors
When determining the expectations of each group, care must be taken to ensure that expectations are described in observable, measurable terms. This will eventually enable inclusion of the expectations in a performance evaluation system. Care must also be taken to robustly facilitate these group discussions to ensure that they remain factually focused, future focused and constructive. Initially, there may be some difficulties encountered regarding the airing of ‘dirty laundry’. Strong leadership and patience will be required to move through this portion of the process.
The exercises are carried out in a hierarchical fashion, i.e., beginning at the front line and moving in an ordered fashion up through the organization to the most senior level. The initial exercises must be thoroughly analyzed before the subsequent exercises are undertaken. The results of the initial exercises form the basis for subsequent discussions as the exercises move up through the organization. At each stage of the process, by-in and/or official agreement of the subject groups must be solicited and received before moving on.
Focus Group Information Analysis
This involves the collection, collation, analysis, interpretation, and summarizing of the information collected during the Focus Group Exercises.
Communications Strategy
This document is intended to act as a formal strategy for communicating the focus of the project. It is intended to supplement or augment the implementation plans. Senior Executive will be the sponsoring entity for the final Communications Strategy.
Implementation Strategy
This is intended to act as a step-by-step process for implementing the deliverables of the project. This will be tied hand in glove with the Communications Strategy. This portion of the project will lead the organization toward the Training Strategy and Evaluation Strategy.
Testing
This phase of the project involves testing the assumptions and/or analyses arrived at during the Focus Group Information Analysis phase. It will involve returning to the site of the Focus Group activities and discussing the resulting document with a portion of the original group. This phase moves the organization toward the buy-in required by all employees, clients and stakeholders.
Organizational Inoculation
Once the Organizational Values are defined, there must be methods devised that permit these values to be injected back into the organization and all of its employees at every opportunity. The Values must be reiterated at each and every opportunity, in various organizational documents, in recruiting and selection, training, promotion, succession planning, etc. Performance evaluation must also have values-based criteria in order to ensure that the adherence or subscription to the values is being observed, measured and valued.
Training Strategy
This is an open-ended, conceptual document that will be intended to stimulate discussion around the issues of information transfer within the organization. A hypothetical approach will be presented to the appropriate decision-making body for discussion and potential action.
Summary
Defining Organizational Values can and does set the tone for all operational and administrative efforts. It is only through a comprehensive analysis of a host of relationships, within and involving the subject organization, that a true picture of the appropriate values comes into focus.
There is much to be gained through active participation of clients and other stakeholders in these dynamic exercises. There is a great deal to be lost, however, if the results of the focus group activities are not taken seriously or if they are minimized or altered to any appreciable degree.
The result of all of this effort will be a Values Statement that is truly reflective of the clients’ expectations of the organization. It will also reflect the organizational culture that needs to be fostered to create an entity that is credible and trustworthy.
R.J. Fitches Inc.
(705) 325-6164
Toll Free: 1-888-325-6164

Bob Fitches consults with small and large corporations on a variety of issues. He has extensive experience in creating and/or recreating an organization’s values from a client and employee perspective. He is a much sought-after public speaker and is also heavily involved in Personal/Life Coaching. He can be reached by email at rjfitchesinc@bellnet.ca, by phone at (705) 325-6164 or toll free at 1-888-325-6164.

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Free Sample Business Plan – Plan For Profit!

Are you looking at starting your own business? If so, then a free sample business plan can be an excellent tool for you to use. The starting of a new business and/or owning a business is a large investment in time and money. By looking at a free sample business plan to get advice and ideas from other successful companies, you will benefit both long and short term. A free sample business plan from a well-respected company will guide you and/or give you at least a solid starting point. The following are some features you may find in a free sample business plan.
Features Of A Business Plan:
1. Introduction: The plan’s introduction is where your business explains the service and/or product you will offer. The introduction will make the business stand out, above any other potential threat to offering the same or similar service.
2. The Business: This section of the plan will describe the board members, key players, and a brief introduction or summary about the company history. There will be discussion on percentages of ownership, how many employees there are, and where the company is located. If this is a new business, this section will be brief; but if it a free sample business plan and outline of a company that has been in existence, this section may cover past successes and achievements.
3. The products and services: This section of the free sample business plan is a detailed description of what product and/or service is offered. Specifics in this part of the free sample business plan are the key. For example, instead of the free sample business plan reading “ABC offers clothing”, the plan would state, “AMC offers designer children’s clothing for children ages birth to 8 years old at highly discounted prices”.
4. Market: This section of the sample plan will analyze (both informally and formally) the targeted market, if it is a niche market, and what community need the company will fill. At this point in the plan, you should use statistics, percentages, and detailed figures to support your statements.
5. Financial & Budgetary Analysis: The financial & budgetary analysis section of the sample plan will be an outline of profits, income, and expenditures of an organization already in existence. As a business just starting out, the section will be projected costs and expenditures, as well as profit projections. This is a great way for a business person to assess and visualize the venture is worth it. In other words, if it will not cost more to get started/operate than the money it will bring in.
6. Company Highlights: The free sample business plan will also include a section for you to look at that will have miscellaneous highlights of the company. The free sample business plan will list such highlights as: a mission statement; value statement; keys for success; desired outcomes; etc. All will show and prove why and how the business will be profitable.
7. Table of Contents and Index: The table of contents will guide you through the plan to find exactly what you are looking for. This is both visually appealing for the plan, and will help those looking at your plan (potential investors, banks, partners, etc.) move through it easily.
There are a wide variety of sample plans for you to look at online for most any type of business (both start up and already in existence). You will find free samples, as well as some offered to you for a small fee. A plan for business is a necessity in the business world. It will help you to outline your present tasks and your future ventures.

Author Margarette Tustle. Read more regarding plans on http://www.dyplan.com

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6 Things You?ll Want to Do In ?06 to Start Growing Your Business

1. Give it away now –
Giving and sharing aren’t exclusive to the holiday season. Share your knowledge FOR FREE with all of your customers and
anyone else that wants to listen to you. Look, you’re probably an expert in your
field and have a number of great ideas and advice that would really help your
customers out – write them down and pass them along to people as much as possible.
Show your customers that you are dedicated to helping them and that you are an
expert in your field.
Communicating on a consistent basis is one of the best ways to build your business. If you stop communicating with your customers, you’ll
start becoming invisible. Invisibility is good if you are a superhero, not if
you are running a business.
When you couple communication with providing valuable information that would help your customers improve their lives, you really kick
your marketing into high gear. Consider starting a newsletter, offering free reports
on your web site or creating a direct mail advice campaign. Share your expertise
with your customers frequently, authentically and honestly – it’ll help establish
you as a caring, knowledgeable expert and keep you in the forefront of your customers’
minds. To see what I’ve done in this area, you can visit http://www.candographics.com
to sign up for the Can-Do Confidence Builder.
2. Stand Behind
Have you ever heard, “I’ll just stick with what I have” from a prospect? Chances are that if you’ve
been in business long, you have. Even if doing business with you is clearly the
better option, sometimes people will just stick with what they have. Why? Often
times you’ll find it boils down to risk; people don’t like risk, so they try to
minimize it when possible. Help people minimize risk by standing behind your product
or service and offer a guarantee. Visit http://www.candographics.com to see my
guarantee.
3. Encourage People to Spread the Word
If your business thrives on referrals, develop a program that rewards people for stepping out of their way
to send business to you. Develop an easy to follow, understandable and convenient
referral program for your customers – and make sure they know about it. Take a
proactive, rather than reactive approach in obtaining more referrals. Give customers
a way to easily refer prospects to you, tell your customers about it and reward
them for it. If you’d like to see my referral program, email me at comments@candographics.com
and I’ll send you my 1 page referral program pdf document.
4. Get Consistent
Everyone knows that first impressions are critical. Did you know that your customers make
up their mind about your business in a matter of seconds? We all do this, and
we all know that first impressions have to be good ones; the trick is you don’t
know which impression is going to be first. Prospects might see your logo first,
your web site, a sign, or a brochure, so it’s important that ALL of them project
a clear, professional message to your prospects.
Your marketing materials and company identity are telling a story to your customer: how professional you are,
how quality conscious you are and how unique you are. What do your marketing materials
and company identity say to customers? If you’ve never asked them, you should!
Take inventory of all of your marketing and collateral materials; line them up
on your desk. Do they all tell a consistent, professional story about your business?
Are they projecting the image you want to send to your customers? Be honest with
yourself, and if they aren’t projecting the professional, consistent image your
company deserves, contact a business savvy designer to help you.
5. Make the Commitment
You’ve been hearing this one ever since
you were little, “Save your pennies for a rainy day”. Smart business owners know
that marketing and design are necessities; they devote a certain percentage of
every sale to growing their company. You can do this too, just take 10% of your
revenue and dedicate it to marketing efforts, improving your brand image and growing
your business. You’ve heard the term, “If you’re not growing, you’re dying”, make
sure you do this for yourself and your company – you’re both worth it.
6. Ask Your Customers
Your customers are an absolute goldmine of information, and business
owners often ignore them. Who better to ask how you are doing, what you need improvement
on and what additional products/services you need to offer than asking your customers?
It’s easy to overlook your customers when developing strategy. By including the
very people that support your business in your strategies, you will avoid the
mistake that most owners make in thinking they know more than their customers.
You know better than that, and here’s the great news, the information they give
you is free!
Tell your customers that you’d like to ask them a few questions that
will help you provide better products and services in the future. Ask them when
a convenient time would be for them, develop a short list of questions to ask
them and of course thank them for their time and ideas.
As we all look to the promise of a new year, take a moment to look how far you’ve come and plan where
you want to go in 2006. This is a time of great excitement and hope for everyone
running a business. If you hadn’t included these approaches into your strategy
last year, now would be a perfect time to integrate them into your business. If
you have any questions, comments or if you found this article helpful, give me
a shout at 480-391-0704, or email me at comments@candographics.com. Happy and
prosperous 2006.

Jeremy runs the only business savvy graphic design firm who helps companies build more confidence and credibility into their business identities. “I help you take your business’ vision and shape it into a company identity that will make you look better, feel better and have more confidence about your business.”
Like the article?
Email Jeremy today at comments@candographics.com for your choice of a free insider’s bulletin:
“How to Choose the Right Marketing/Design Firm for You” or “Top Ten Questions Designers Don’t Want You to Ask Them”.
You’ll also want to check out the “Can-Do Confidence Builder”. Emailed weekly, the Confidence Builder provides you with essential marketing and design insights that help you get the most out of your marketing/design investments and help you to stay one step ahead of the competition.
Remember to include in your email your name, which Insider Bulletin you would like to receive and any additional feedback.
Learn more about Jeremy and how you can gain a competitive advantage with a better brand by visiting http://www.candographics.com

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Setting Goals: New Year?s Resolutions

It’s here again. The end of the year… It arrives every year, same time, same place, and we’re stuck wondering if the new year will begin or we will just cease to exist. And every year, I’m reminded of the back of the covered wagon medicine man selling his magic potion to cure what ails you, “Step right up, folks! The Magic is waiting. One tablespoon before bedtime and your eyes will be bluer, your hair will be blonder, and you’ll have my name tattooed on your posterior! Step right up; there are only a few bottles left! Get your magic potion TODAY! Dr. J’s New Year Solution to the New Year’s Resolution! You don’t want to miss this opportunity!”
You have NOT written your NEW YEAR RESOLUTIONS? What are you last year’s old shoe? Well, okay… the reality is, you don’t have to write them. But, everyone else writes them?
As a businessperson, I always write one major goal I wish to accomplish during the year, with my business. Usually related to monetary gains, expansion, or customer service, this goal is posted along with my annual motto change (I always update it), on the bulletin board for all the world to see. (At least everyone who comes into my office and looks at the message board behind my computer.)
So, how do you achieve a goal? (Yes, of course I have a point.)
1. First you must have one. Write it down. If you don’t write it down, put it in plain open site and boast about it so others will remind you of your goal.
2. Break it down to bite size bits. Make it doable. If you break it down into bite size bits, so you can do something toward your goal every day, you can achieve your ultimate goal – on time.
3. Give yourself a deadline. Make sure you know what you want to accomplish and by when – procrastination kills a good goal.
4. Put every step on your calendar and plan your day around the goal. Make it part of your every day activities to work on your goal. 15 or 20 minutes a day maybe – but write it down.
5. Make it a habit. It takes 21 days to make a habit. So for the first 21 days of January you are going to do your goal work at the same time and place every day. Don’t miss a moment of your ‘make it a habit’ process – or you have to start over at day one.
6. Celebrate the small steps. IF you accomplish the first step toward your goal. Tell someone about it, celebrate it, give yourself a slap on the back and announce your success – along with your impending goal.
7. Just do it. Follow the steps, and make it happen. This is your life – don’t give up and don’t let go of your dreams!
Set a goal. Make a New Year’s Resolution. Live the life you dream and make your dreams happen. It is achievable, whatever your goal, one step at a time!
Happy New Year!
Copyright (c) 2005 – Jan Verhoeff

Jan Verhoeff is a proponent of making it happen. If you have a dream, an idea, a thought that you want to succeed. Take that first step. Contact her or visit her website at http://www.freewebs.com/ebizblitz.

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The Addictive Business Plan

While the average business plan ranges from twenty to thirty pages in length, on average, investors only read one page of each business plan they receive. Obviously, for a business plan to receive funding, investors have to be encouraged to read the entire business plan, and then take additional action such as setting up a meeting with the company’s management.
In figuring out how to get investors to read more than the first page of a business plan, soap operas quickly came to mind. Soap operas are very effective in getting viewers to keep watching over time. They do this by making their content addictive. That is, they have cliff hanger episodes, they pique the interest of viewers, and they make viewers eager to learn what will happen next. By making their business plans addictive, ventures entice investors to want to learn more and best position themselves to reap an investment.
So how do you make a business plan addictive? They key is to bring up, in the Executive Summary, exciting factors regarding why the venture is a great investment opportunity and then further substantiate each of these factors in the remainder of the plan. Such factors include how and why your company is unique; why you have a sustainable competitive advantage; why market trends support your vision; why your exit strategy will provide a significant return to investors; and why management is uniquely qualified to execute on the opportunity among others.
Developing an addictive business plan is often the difference between a plan that gets pushed aside after one page and one that investors review thoroughly and act upon. As such, it is critical to make the plan addictive. Going back to the soap opera analogy, keep in mind however that investors are much more sophisticated than the average soap opera viewer. As such, the addiction must not be based on fluff, but solid information about the investment opportunity.

Since its inception, Growthink Business Plans & Business Planning has developed over 300 business plans. Growthink clients have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share. Growthink has become the firm of choice for venture capital firms, angel investors, corporations and entrepreneurs in the know and offers Business Planning, Venture Research and Venture Capital Services.

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The Importance of Business Continuity Planning

Business continuity planning is the process whereby a firm figures out a plan of action that it will take in the case of unforeseen events. The process anticipates risk and helps limit the downside that companies may experience when adverse events occur.
While business continuity plans are common in large public entities, they often go uncompleted in emerging ventures. This is because emerging ventures typically have less resources and more critical day-to-day tasks to complete. As such, business continuity planning often gets pushed aside until it’s too late.
Recent events ranging from Hurricane Katrina to the New York City Transit Union strike show that there are many adverse events that could arise with little or no warning. Such events often destroy businesses that are ill equipped to deal with them.
Emerging ventures must create business continuity plans. Such plans will include backing up work and communicating and/or meeting virtually when required among others. Regardless of the specifics of a company’s plans, it must brainstorm potential situations and determine how it will deal with them before they occur.
Fortunately for emerging ventures, business continuity planning can also have positive short-term effects. By assessing multiple what-if scenarios, businesses often come up with new product and service ideas, or new ways of doing business that can increase profits even when no disaster occurs.
It is never too early to begin business continuity planning, but clearly there are times when it is too late. As a result, sitting down and beginning your plan today is good business.

Since its inception, Growthink Business Plans & Business Planning has developed over 300 business plans. Growthink clients have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share. Growthink has become the firm of choice for venture capital firms, angel investors, corporations and entrepreneurs in the know and offers Business Planning, Venture Research and Venture Capital Services.

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Business Plan Writing: Consider Your Customers

When entrepreneurs realize that they need capital to launch or grow their businesses, typically they also realize that they need a business plan. The first question that often comes to their minds is how to write a business plan.
Too many times, the entrepreneur sets out to jot down every detail of their vision on a piece of paper. However, this is not how to write a business plan. Rather, the foundation of the plan needs to be based in marketing strategy.
It is always critical to realize that a business plan is sales document that seeks to sell equity in your company, or, in a loan, sell the fact that the venture will be able to repay its debts. Similarly to any other product that you might sell, in developing a plan it is critical to have a marketing strategy in place. You need to understand who your customers are, what they want, and how to give it to them.
Customers in the business plan world are typically angel investors, venture capital firms, private equity firms and banks. Each of these customers typically has different needs, and even customers within each genre have different values and tastes. For instance, some venture capital firms are only interested in certain sectors, while others are only interested in ventures which can potentially provide a 10X return on investment.
As such, not only must entrepreneurs understand investor needs, but they must cater to them by positioning their business opportunities appropriately. This includes the tailoring the overall positioning of the company, detailing why the investment is right for the specific investor and creating a business plan document that meets the formatting tastes of the investor.
Before spending the time questioning how to write a business plan, entrepreneurs should consult with professionals who understand the market and the needs of customers. Without this knowledge, it is impossible to write a winning plan.

Since its inception, Growthink Business Plans & Business Planning has developed over 300 business plans. Growthink clients have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share. Growthink has become the firm of choice for venture capital firms, angel investors, corporations and entrepreneurs in the know and offers Business Planning, Venture Research and Venture Capital Services.

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Business Competition Best Practices: Win Loss Research

Frequently I am asked “how do you get information about the competition?” Most people are surprised when I tell them that getting useful competitive intelligence is actually the easiest part of managing successful business competition. One of the best methods to gain valuable competitive intelligence is so simple, straightforward, and productive that I have put it on my list of Business Competition Best Practices: Win Loss Research.
The benefits that Win Loss Research routinely delivers include:
* Increasing your rate of successful wins in competitive sales situations
* Enhancing your product management and development initiatives
* Reducing the level of uncertainty involved in sales forecasting
* Strengthening top and bottom line results for your business
* Improving the efficiency of your sales cycle process
* Setting the stage for future business growth
Win Loss Research is a succinct, guided discussion with decision makers and influencers who have been involved in your recent win and loss sales decisions. The goal is to learn what key distinctions they saw between you and your competitors, the importance of those distinctions and the value they assigned to each competitor. While the focus of this research is on gaining insight into how your competitors operate and how you fare in comparison, it is inevitable that you also gain valuable customer information in the process.
Win Loss Research drills down beyond standard pricing issues and gets into territories such as: decision process, sales team approach and professionalism, company reputation, product attributes, service issues, and handling of proposals. Although pricing information is involved, it should not be the centerpiece of the research unless it becomes apparent that it really was the key issue that drove the decision. The goal of Win Loss Research is to provide you with competitive insight you can act upon – actionable competitive intelligence – for sales process improvement and better results.
Typically this research is conducted either over the telephone or in a face-to-face interview. The latter is more common in places and cultures where that is the preferred communication modality. Getting the results that you want out of Win Loss Research is a combination of art and science; art being the skill of the researcher in eliciting the intelligence that you need; science being the development of a research guide that facilitates the discovery of actionable competitive intelligence.
As with almost anything worth doing, focusing on Critical Success Factors (CSFs) increases the likelihood that you will get what you need. For Win Loss Research, focusing on the following CSFs will greatly increase your likelihood of obtaining productive competitor intelligence:
1) Use professional competitive researchers who are skilled in drawing out actionable competitive intelligence. They will also be perceived as unbiased, thereby ensuring candor.
2) Selecting the optimal mix of win and loss opportunities to research is a reasonably complex task which must be done correctly to ensure that you are gaining insight from the target markets that matter most.
3) Development of a stimulating research survey that operates as a guide rather than a questionnaire is the backbone to outstanding results.
Surprisingly, the tone and quality of the initial research request can make or break your ability to get robust participation.
A common pitfall among companies that report doing Win Loss Research is that they have their employees, typically the sales representatives, perform the research. You do need to have your sales people find out what happened. This should precede Win Loss Research which goes beyond the limited conversation from your sales reps’ debriefing. Also, it defies human behavior to think that the customer will feel comfortable being candid with a sales rep who has not met their expectations or that the sales rep will be candid in passing along information that may be construed as unfavorable to them.
An extraordinary thing about Win Loss Research is that any size or category of company should be able to implement this as an ongoing business practice and see steady gains in their customer acquisition and sales. This form of research is not particularly costly or difficult to do, yet it does take a certain willingness to expose yourself to news that may make you uncomfortable at times.
One of the most frequent comments our researchers hear is a compliment to our clients for taking the time to learn and improve from their experience. Once you establish a practice of doing Win Loss Research routinely and take action on the results, your company will realize the benefits of implementing this business competition best practice.
(c) 2005. Bishop Market Resources. All rights reserved. Permission to reprint granted provided the article and byline are printed intact with all links made live.

Celeste Bishop is President of Bishop Market Resources a Competitive Services Agency that provides a breadth of traditional and online competitive intelligence services, including business research and sales process improvement research. For more learning resources check Brain Food at: http://www.bishopmarketresources.com/competitive-intelligence-brain.html

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How to Write A Business

Knowing how to effectively write a business plan is important if you want to get financing to support your business. Yet knowing how to write a business plan will also help you define specific issues that will define how you do business in the beginning and as your business grows. There are very specific items you will need to look at more closely as you learn how to write a business plan.
As you being to learn how to write a business plan, you will need to get a good idea of your overall business. The first item that will go into your business plan is your introduction, so as you develop how to write a business plan you should also develop a summary of your business. The introduction will include a description of your business and its goals, the ownership of the business and its legal structure, and what skills or experience you bring to your business. Another item to think closely about as you learn how to write a business plan is what advantage you have over your competitors. It is okay if you do not know this already, as you learn how to write a business plan, the other parts of the plan will help you write your introduction.
Knowing how to effectively write a business plan also means learning a little about marketing and how you will use it effectively to promote your business. You will need to be able to define customer demand, identify your market, and explain your pricing strategy in this section. So before you move further in how to write a business plan, you should do your research into marketing techniques that will be effective for your business.
The next item you will need to learn in how to write a business plan is how to manage your business money. When potential investors read your business plan, you want to give them the idea that you have a solid financial plan for the money they are about to give you. Therefore, as you learn how to write a business plan, you should also be able to write about your initial capital, develop an initial first year budget, provide projected income statements and balance sheets for two years, talk about your breakeven point, and more. Also as you develop your skills in how to write a business plan, you want to do some thinking about the future and present several “what if” scenarios in this section so that potential investors know that you are able to see both the best case scenario and the bumps in the road.
Next when you are learning how to write a business plan is to develop your operations plan. This is where you will begin thinking about how your business will be managed on a daily basis. As you continue with how to write a business plan, you will need to also think about hiring, insurance, rent, equipment, services, etc.
Finally, your summary skills will come in handy as you learn how to write a business plan, for the final section is the concluding statement. In this section you will summarize all of your business goals and objectives. It is important that upon completion that you ask friends or colleagues to look it over, because there are always new things to learn about how to write a business plan.
Read the rest of the article here: Business Plans.

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Countdown to Success : Twelve Things to do Twelve Months in Advance

When a show’s a year away, it may seem like you have lots of time to get ready. But appearances can be deceiving. Twelve months is not long, especially with all the pre-show planning, training, and preparation you’ve got to do. Here is a checklist of sixteen vital items that need to be done approximately one year before you set up your exhibit:
1. Identify Where The Show Fits In Your Marketing Strategy
Every show has a purpose. Do you want to introduce a new product to a new market? Increase existing services in an existing market? Increase your visibility in a new geographical region? Reinforce existing customer relationships? Knowing what you want to achieve at any given show is vital to your success.
2. Decide Which Products To Focus On
Your company may produce dozens, even hundreds of different products. Obviously, you can’t showcase all these items at a trade show. Attendees would be overwhelmed. Instead, with one eye on your marketing strategy, select those products that need to take center stage. Remember that 70% of people attending shows are looking for something NEW!
3. Identify Your Target Audience
Ideally, every show would be attended solely by consumers desperate to buy your products and services. However, things don’t always work that way. Determine who the decision makers are in your industry, and exhibit at the shows they attend. You want to spend your time talking with the people who have the power to make purchasing decisions.
4. Identify Your Exhibit Objectives
Clearly explain to your booth staff what goals you expect them to meet during the show. Make these goals quantifiable. Examples could be number of leads generated, target sales figures, gathering marketing intelligence or educating your target audience.
5. Write an Exhibiting Plan
Writing out an exhibiting plan not only clearly deliniates what needs to be done before, during and after the show, what your exhibit team need to do, and a timetable. Include every step of the show in the written plan, leaving nothing out. Re-reading this plan will allow you to identify any items you’ve overlooked.
6. Establish an Exhibiting Budget
An exhibiting budget should include every item needed for show participation. Beyond registration and space rental fees, include charges for show services and transportation. Add in the cost of your exhibit design, signage, graphic, and display materials as well as advertising, promotion and special activities. And, finally, don’t forget your exhibit team’s travel, accommodation and meal expenses.
7. Reserve Your Booth Space
Prime real estate go fast! To get the booth space you want, remember to reserve early. Avoid ‘discounted’ spaces in out of the way aisles or near the bathroom. The savings realized won’t balance out all the attendees who never get near your booth – or worse, who go by in a big hurry with other things on their mind!
8. Pay Deposits
Check in with the accounting department to make sure deposits are paid on time. This often-overlooked item can cause all kinds of headaches, not to mention high late-payment charges.
9. Ensure Booth Design Meets Objectives
There are no one-size-fits-all displays. Make sure your design meshes with your marketing plan, helping to support current objectives while maintaining your corporate image. Booth layout is vital. Make sure it contains all the needed elements, including a ‘quiet’ place to talk with hot prospects.
10. Assess Your Current Exhibit
Give your current exhibit a critical once-over. Does it still look sharp and engaging, or is it tired, faded, and worn? Signage and graphics sometimes travel around the globe several times in a year – and they don’t always look better for it. Check flooring material for wear and tear as well as your other displays.
11. Purchase New Items as Needed
Order new graphics and signage as far in advance as possible. This way, if there are any mistakes, you’ll have time to make necessary corrections. Additionally, allowing yourself extra time gives you the room to negotiate for the best deals. As you replace worn items, make sure the old ones are disposed off – you wouldn’t want your booth staff setting up last year’s signage by mistake.
12. Order Show Services
Show services should be ordered in advance. These can include electricity, signage, audio/visual equipment, booth cleaning services, plants and flowers, telephone and computer hookups, waste removal, and furniture. You’ll be sure to get everything you need, and enjoy a substantial savings over those who wait for the last minute to order these items.

Written by Susan A. Friedmann,CSP, The Tradeshow Coach, Lake Placid, NY, author: “Meeting & Event Planning for Dummies,” working with companies to improve their meeting and event success through coaching, consulting and training. For a free copy of “10 Common Mistakes Exhibitors Make”, e-mail: article4@thetradeshowcoach.com; website: http://www.thetradeshowcoach.com

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