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Will You Add? - Be Prepared When Business Investors Look Beyond Your Business Plan
Promotional Products for Word of Mouth MarketingIn a time when we are all barraged with banner ads on the Internet, and advertising everywhere else we go -- word of mouth marketing has never been more important. One of the easiest ways to take advantage of word of mouth marketing is simply by showing your appreciation for your customers, prospects, colleagues and employees. How? By giving them something they can actually use!With literally thousands of items that you can have your logo imprinted on, buying promotional products is not always as easy as people think. One thing is for sure: using promotional products as gift items are one of the most effective ways to keep your business name in front of people on a regular basis. The promotional products industry is only as successful as it is because the marketing dollars that compan
In addition to a detailed analysis of your financial statements, business investors will hone in
When it comes to Yellow Page Advertising Companies there is a complete double standard. You see, yellow page advertising sales wraps will come into a company or a business and demand to talk to the owner and immediately engage them in conversation. If they do not respond or if they are with a customer and say one minutes, often the yellow page advertising salesperson will say I only have one time to come to your shop if you want to be in next year's yellow page book you need to talk with me now or set up an appointment.Now comes the kicker, my company operated in 450 cities, 110 markets and 23 states in the business of washing people's cars at their office building. What is amazing to me is that the Yellow Page Advertising Company; yes this is the actual phone company would not allow solicitations on their property and although we washed cars in every
Great! What’s “due diligence?
Due diligence is a thorough examination of available facts, references, books, records, etc. of your business and business plan.
And, what exactly should you expect during due diligence?
Skepticism...
Business investors want to be sure there are no skeletons in the closet and that your venture is not the next Madison Priest "black box technology" -- a revolutionary technology that claimed to allow ordinary phone lines to transmit data into people's homes at rates faster than fiber optics. By staging impressive demonstrations, Priest convinced private business investors and seasoned companies, such as Blockbuster and Intel, to invest money in his venture. In the end, Priest's 'magic box' was nothing but a high-tech hoax.
In addition to a detailed analysis of your financial statements, business investors will hone in
Who says scientists can't market? Here are 10 easy marketing ideas that a group of folks at the National Institute of Standards and Technology came up with today during our monthly Marketing Action Group:1. Listen to (and write down!) the questions your clients ask. They're clues to the problems you can help them solve. They're also topics for your next article, talk and e-newsletter. Don't invent this stuff - just listen!2. Plan and write out your next sales conversation. Got a meeting next week with a hot prospect? Write down the words you will use to find out who the decision makers are, what the budget is, the scope of their problem, and how you'll ask them to take next steps. If you have no idea how to do this, send me an email and I'll help you think through it.3. Read a marketing article. Most non-marketers don't go out of their way t
Great! What’s “due diligence?
Due diligence is a thorough examination of available facts, references, books, records, etc. of your business and business plan.
And, what exactly should you expect during due diligence?
Skepticism...
Business investors want to be sure there are no skeletons in the closet and that your venture is not the next Madison Priest "black box technology" -- a revolutionary technology that claimed to allow ordinary phone lines to transmit data into people's homes at rates faster than fiber optics. By staging impressive demonstrations, Priest convinced private business investors and seasoned companies, such as Blockbuster and Intel, to invest money in his venture. In the end, Priest's 'magic box' was nothing but a high-tech hoax.
In addition to a detailed analysis of your financial statements, business investors will hone in
Today, retailers face a tremendous amount of competition, more than ever before. The Internet has allowed millions of new startup retailers to launch with minimal resources. Some of these new Internet retailers do not even warehouse their own products, they simply drop ship other retailers products, making it much easier for them to keep their resources low and use their revenue made from sales to put back into marketing of their websites.So as all these new retailers are born, how does this affect the larger retail department stores like Macy’s, Sears, Nordstrom, JC Penny, and Bloomingdale’s? Well according to an article I found on the Denver Post website, “Researchers say department stores are losing customers - particularly younger ones, who tend to favor big-box discounters, s
And, what exactly should you expect during due diligence?
Skepticism...
Business investors want to be sure there are no skeletons in the closet and that your venture is not the next Madison Priest "black box technology" -- a revolutionary technology that claimed to allow ordinary phone lines to transmit data into people's homes at rates faster than fiber optics. By staging impressive demonstrations, Priest convinced private business investors and seasoned companies, such as Blockbuster and Intel, to invest money in his venture. In the end, Priest's 'magic box' was nothing but a high-tech hoax.
In addition to a detailed analysis of your financial statements, business investors will hone in
“I want to sell my company’s products on the Web, but how do I get potential clients to visit my site,” a client asked recently. The answer is a strategy that has proven extremely effective for many different businesses…Internet Direct Mail.One of the most common mistakes many businesses make is putting up a website and then sitting around biting their nails waiting for people to come. This approach isn’t going to work. If you want people to visit your site, you’ve got to make it happen. And sending an e-mail invitation is one of the best ways to build website traffic and boost your company’s profits.Of course, sending an e-mail to a random group of people asking them to “please come and visit our site,” isn’t going to work very well either. You need to get your e-mail to the right people and then give those people a reason to visit, or they won’t
In addition to a detailed analysis of your financial statements, business investors will hone in
What is Public Relations The difference between Public Relations PR and Advertising is simple, you pay for Advertising. The definition of Public Relations is 'Public Relations practice is the planned and sustained effort to establish and maintain goodwill and mutual understanding between an organization and its publics.Public relations is the more difficult "free" version of advertising. It turns out it's not free after all, however paying for advertising allows you to say what ever you want, public relations is different, this is when others say what they want about you.When you are high in the search results for a search phrase, the vast majority assume you got there because the "public" put you there. This is not far from exactly why your site was in the result to begin with. Being listed on the top of a sear
In addition to a detailed analysis of your financial statements, business investors will hone in on four key areas: finance, management, manufacturing, and marketing. Specific concerns in each area are as follows:
Finance
Cash. Cash is king. It's the lifeblood of all businesses - start-up or on-going businesses. Business investors know this. They will spend the time understanding your cash flow assumptions and, if you're an existing business, they'll analyze your cash management practices. Poor cash management or shaky cash flow projections are immediate red flags.
Profitability. Expect investors to compare your actual or projected gross margins from year to year. This provides a quick indicator of your historical or projected manufacturing efficiencies and pricing environment. It can also highlight potential control issues, excessive overhead, or under pricing strategies to capture market share.
Bank problems. Out of compliance financial ratios, scrutiny from banks, or suspect bank relations - personal or busi
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