|Strategic Planning Information|
8 Ways to Earn More Without Working Harder
Conventional wisdom has it that there are only three ways to grow your business: find new customers, increase the amount of each sale to existing customers or get customers to buy more frequently. But I've seen business owners go blank when presented with those three options. So here is a more useful list of ways to increase your total revenues without in most cases having to put in more hours at the office.
1. Charge by the project rather than by the hour. Hourly fees are a death trap for the experienced professional. You get penalized for being able to zoom right in to the nub of the problem and its solution. If you are good at what you do, instead provide customized quotes for each whole project. Most clients prefer this anyhow, so that they know in advance what they will owe you. The exception is when you can't nail down the scope of the project before getting started; in that case alone, revert to hourly fees.
2. Boost your exclusivity and perceived value. If you emphasize that you don't sell to just anyone who shows up at your door, but you have certain criteria for the clients you choose to serve, people become more eager to engage your services. Likewise, if you drive home the value that you provide with testimonials, case studies, client lists and specific results you have achieved in the past, you'll get a greater return from all the marketing you're already doing.
3. Create higher-end, higher-priced programs and options. A photographer friend of mine learned that people enjoy options to select from, and they most like to select the next-to-most-expensive option. So to increase her income from framed family portraits, she simply offered a larger and more expensive frame as the biggest option. Customers were then more likely to choose the second biggest, which cost more than the previous second biggest frame.
4. Create a repeat-billing product or service instead of selling one-shot products or services. Get clients to sign on to some sort of ongoing service plan, and you get a longer, larger return from each of your marketing efforts. For the photographer, this could be a plan for enlargements tailored for a number of holidays spread throughout the year, such as Mother's Day, Father's Day, Christmas and Valentine's Day.
5. Revise your current products and services for a specialized market and charge more. Whatever the industry, people believe they have special needs and therefore they will pay more for products and services specifically for them. By making small and in many cases insignificant changes in your offerings, you can increase people's willingness to pay more for your items or your knowledge.
6. Sell related products and services - your own or someone else's - to current and past customers. Hair stylists easily sell mousse and conditioner to their clients, who want to look as great when they're on their own as they do when walking out of the salon. When people buy from you, what else do they typically need to enjoy a complete solution to their problem? Mark up the offerings of other service or product providers along with your own, and your total revenues go up.
7. Make it possible for clients to prepay and "stock up" on your services or products. I pay for the next winter's fuel each summer and get a lower price per gallon, and the fuel company gets lots more money earlier. Similarly, offer a slight discount for six months or a year's worth of your consulting services, and your cash flow can instantly improve.
8. Simply raise your prices. Most entrepreneurs charge too little and are thereby earning less than they could with every sale. Raise the price of your book from $17.95 to $19.95, or of your fee for cleaning teeth from $90 to $99. Usually there's little or no resistance from your market. Sometimes with a significant raise in prices, you lose some customers but revenues increase overall. That's the goal!
Marcia Yudkin is the author of 6 Steps to Free Publicity and 10 other books. She runs a private member site, MarketingforMore.com, which supports business owners who are growing their businesses. Learn how to avoid the most common pricing mistakes in her free report, "Charge More & Get It," available from http://www.marketingformore.com/survey.htm .
Business Planning and the ?Bozo? Factor
"Bozo" ? A clown with a forlorn look, always finding negative implications in every activity or event. A person who tries to find a way to prevent you from moving ahead, giving excuses such as "we've always done it this way, or this is not our culture" when presented a new opportunity or challenge. Normally associated with people who are uncomfortable with learning new techniques, processes, or relationships.
Business Plan Descriptions of Computer System
Entrepreneurs often give little if any consideration to their computer system needs in their original business plans. It is a necessity to have mention of your computer system as bankers and/or investors will want to know how you will keep track of your future endeavor. You need to carefully spell out your needs and their costs to insure you are asking for the right amount of money for your new project and to insure that you know what you need in advance. All too often entrepreneurs are not completely sure of what is needed and then when they see what is available they want it, this adds costs. Then comes the customization and feature creep as high paid programmers design the modifications.
A Backup To The Internet Is Vital & Now Cost Effective
It doesn't take a Terrorist Act, Tsunami or Earthquake to put a business heavily dependent on the internet in the dark and effectively out of business??for hours or even days into weeks.
Akron OH; A great place to do business
When looking at Akron carefully one cannot help but notice it's brilliant location to rivers, water, large cities and middle class consumer spending populations. With Canton to the South, high-end and growing Fairlawn to the North, Kent State and University of Ohio both a stones throw; the potential for any business is quite apparent. There are 160 trucking companies many of which are located in the area due to its proximity to large markets on a major freeway. Everything you want is there or can be delivered within days.
Planning For The Slow Season Of Your Business To Increase Sales
Every business experiences slower periods. For some, they sell more during the Christmas season while others move at a snail pace. Some sell more during the summer and others less. The key is being aware of your seasons and alternatives available to solve the challenge and change the results.
How To Kick Start Your Business And Double Your Profits
This will make some people angry as hell, but it's time to debunk the myth of 'Time Management' while sharing the real secret of the super successful.
ACTION PLANNING: Action Planning is a process to develop strategies for changes in the organization based on an analysis of the problems which precipitate the need for change. It is a collaborative method of planning which involves the people working in the organization and permits the people who will be influenced by the decisions and change to have influence on the product or outcome. Action Planning assumes that people will support that which they help to plan and create. Unless those involved are committed to that which they are changing, the plan does not have much hope for success. Recent studies indicate that employees who are a part of the planning and problem solving/decision making process will take on additional organizational responsibilities to implement the plans.
If you've ever listened to Warren Buffett talk about investing, you've heard him mention the idea of a company's moat. The moat is a simple way of describing a company's competitive advantage. A strong competitive advantage, or a wide moat, gives a company sustainability, which, as investors, we're highly interested in.
Microsoft Great Plains Implementation: Placement/Recruiting Agency example ? overview for consultant
Microsoft Great Plains does wonderful ERP job for horizontal markets and clientele. However in our opinion placement software market is underserved and needs custom modules to be developed. In the case of Microsoft Great Plains we see numerous examples of in-house or outsourced customization done for Great Plains Dynamics/Microsoft Great Plains in order to automate placement agency workflow and processes. In our opinion Great Plains is good choice, considering the side of placement and recruiting companies: mid-size or even small. Let us give you highlights from our consulting practice.
The Chasm of Change---- Restructuring ----- The Goliath
Richard L. Daft one of the country's recognized academic leadership experts raises the question, "What kind of people can lead an organization through major change?" A Turn-A-Round restructuring qualifies as major change and requires transformational leadership. Daft points out that this type of leader is characterized by the ability to bring about change through innovation and creativity. This type of leader motivates people to not only follow their lead but to believe in the vision of corporate transformation, the need for revitalization, to sign on for the new vision and to help institutionalize a new organizational process." Daft points to four principles in discussions about leading an organization through major change. These four principles are the foundation of the restructuring Turn-A-Round process.
Shortening Product Life Cycle!
The current state of the available technology at the disposal of designer is the most limiting determinant to what is technically and economically feasible to develop, therefore research into metatechnology such as computer science, whereby interdisciplinary spin off provides advances that both directly increase capabilities, and affects other technologies to dramatically improve system performance, is a necessity, the implication being that despite many of the basic principles being relatively static, the technology used is essentially in a state of constant development.
Innovate Today for Great Leaps Forward Tomorrow
How often does your company make a quantum leap forward? My guess is that, on a scale from "frequently (10) ? to ? never (1)" the answer is much closer to "never" because few companies have a process to innovate or think creatively. Very few attempt to formally think through their business model, their relationships with staff, clients, and vendors, and their product / service offerings.
Executive Summary for Business Plans of Franchisees
Writing a business plan for a franchised outlet of a larger company to get funding or find investors is difficult because the franchisor already has a plan which is working, but until you are privy to it upon purchase you actually know relatively few details. The franchisor must keep this information proprietary to insure competitors do not steal the information, but the franchise buyer needs the information to prepare a business plan to get a loan from a bank. Thus a catch 22 exists and is further exacerbated by the fact there are laws against some types of disclosures, which many franchisors due to the litigious nature of franchising do not wish to disclose based on advice from their attorneys. So what do you do? Well, you do the best you can using the UFOC, uniform franchise offering circular or ask the franchisor to send in a business plan directly to your banker who, signs a waiver of non-disclosure and you cannot see it until purchase.
Sample Business Plan Outline
If you are looking for a partner, funding, angle investor or venture capital you will be asked for a business plan. Even if you are not in need of capital in the formation of your new business endeavor you will still be glad you prepared a business plan to help you prove to yourself that you have the right stuff and that the business is economically viable. The first step in the creation of your new business will be making a customized business plan. Please use this outline as your template to insure you do not forget anything important. This is a business plan format and outline I had created after reading over ten business plan books and taking the best of each of them and putting them into one outline. I give this to your freely and wish you great success in your new business. It is the great entrepreneurial spirit and the entrepreneur that build this great nation, glad to see you are one of us
Completing the Annual Planning Process
Imagine an office without a desk, or lights, a computer, or even something as simple as a chair. When the architects and designers started planning a building or office space they knew they would have to make concessions for these items during each of the building activities. As marketers, we take part in many activities, much like a builder or designer does.
Restaurant Startup - Part 1: Market Research ? What are Potential Competitors Doing?
The first step in starting a restaurant is proper planning. One must lay out a plan complete with goals, priorities, and the tasks that he will need to complete in order to achieve these goals. The biggest mistake first time restaurant owners make is improper planning. Ambition, while absolutely required, is simply not enough to succeed in the highly competitive food service industry.
SWOT Analysis Is No Magic 8 Ball
Q: A key investor in my business has suggested that I hire a consultant to do a SWOT Analysis to help plan for the future. I try not to argue with my investors, but I'm not so sure I need to have this done. What do you think? -- Laurie B.
Ten Steps To A Great Strategic Plan
Ask a small business owner about their strategic plan and they'll either laugh or get that stricken look in their eyes. Yet it's well documented that businesses with a strategic plan are more successful. No matter what size business, from solo practitioner to hundreds of employees, a thoughtful strategic plan will help you achieve your dreams.
Strategic Planning Consulting
Strategic planning and consulting is the strategy roadmap to manage business very effectively. To improve the performance in each business level, business strategic planning & consulting is essential. We should draw a clear strategic planning model to dilute the business complexity. If the strategic planning models are clearly set it is easy to find the business solution.
Sony?s PSI Project
In 1989, Sony founded its Institute of Wisdom at the request of its founder Masaharu Ibuka and former chairman Akio Morita.
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