Business plans have three main purposes: to guide the operation, to secure loans from the bank, and to secure new investments. Regardless of the application or use, the plan must sell the reader on why this business concept works. The most basic use of the plan is for the internal use at the company. In…
DetailsThat’s a quote from Vittorio Alfieri, an Italian dramatist considered the founder of “Italian tragedy”. OK, I had not heard of him either, until I saw the quote and looked him up on Wikipedia. Regardless, this quote reminded me that inspiration may be an important part of marketing and entrepreneurship, but no idea is so…
DetailsYour brand is a promise of value. Strong brands build customer loyalty by being consistent, honest, and differentiated. Brands are built on consistency, which means that your customer gets the same product or service each time they choose to do business with you. For example, no matter where you buy a Coca-Cola, you know that…
DetailsWhen negotiating you will periodically encounter the “cry baby”, which is a negotiator who has learned that if they cry loud enough and long enough, he or she might get what they want. This behavior resembles a two year old screaming until you pick them up to shut them up. They scream because it works…
DetailsMuch is written about subject lines for e-mail marketing communication. An effective e-mail campaign starts with a snappy subject line that motivates the recipient to open the e-mail. Without that first step the e-mail gets the delete key and it is all over. Yet, the way your e-mail signature looks may be equally important since…
DetailsHunters hunt and farmers farm. Both types of sales people are valuable, but which best fits your offering? Which of these sales profiles is the best fit for your industry? Which is the best fit for the territory and the accounts? A hunter is highly tuned-in to his or her surroundings and always on the…
DetailsShow me a startup without a business plan and I will declare it a “rudderless” ship. For without a business plan to guide you, a business will just float along chasing one opportunity after the next, while ending up nowhere special. Business plans are not hard to write, but they do challenge you to think…
DetailsPositioning or Branding? People often confuse the two marketing terms to the joy of the academics, who will argue until the cows come home about the meanings of the two words. From my point of view, positioning describes the measurable differences between your solution and that of the competitors. It really is a look backwards…
DetailsMaybe the smartest money ever spent by an entrepreneur is to conduct a “concept test” which is basic market research on an offering before you go to market. Concept testing can use qualitative or quantitative research methods; most commonly, qualitative tools such as in-person interviews and focus groups are chosen for their expediency and live…
DetailsA few weeks ago I proudly announced that I had joined MySpace much to the chagrin of my three children. I think my youngest daughter said something like, “How gross, Dad”. Nonetheless, I thought it was important that I join this special social network for commercial reasons: there are 200 Million profiles on MySpace and…
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