SubscribeSMALL BUSINESS LEADER December 2007
Small Business LeaderMarian Banker, MBA, Business Leadership Coach, and creator of the Business Success System.
"Lead Your Business to Success" ISSUE #100
December, 2007
In This Issue
Business Success System Course
Events
Feature Article
Small Business Leader Marketplace
About The Publisher & Feedback
Quick Links
Past Newsletters
More About Us
Note from Marian:
'Tis the Season...for joy and thanks giving...for good times with family and friends...and to get your act together for 2008.
This month's feature article is "Critical Success Factors for 2008". Read it so you'll know what to consider when looking ahead. Then take advantage of my Year End Check-up, http://primestrategies.com/checkup, to start you on the right path. I'm giving you my gift of $100 off if you sign up by December 31, 2007. It's an easy, smart way to start 2008 with a strong and positive plan; feeling in command of your business.
The big news now is Small Business Summit 2008. We just launched the website, http://smallbiztechsummit.com, and we're already getting sign-ups. Be sure to register before February 1st to get the early bird price of $99. And tell all your friends about it, too.
If you'd like to participate beyond just attending, we have a special promotional sponsorship package, http://www.smallbiztechsummit.com/2008/promosponsor.htm, that's very attractive for the small business. But you must get in before January 1st, as we have a printing deadline to meet.
This is our 100th issue of Small Business Leader. I've been publishing since January, 1999, so we're officially 9 years old. That's cause for celebration and for thanks to those who've been with me so long. A hearty welcome to those who've only recently joined. It is my pleasure and my honor to communicate with you each month.
Enjoy the Season.
To your success,
Marian Banker
Publisher
Small Business Leader
NOTE: We have had to disguise some words in order to keep them from getting caught in the $pam filters. Please bear with us.
Business Success System Course
Want your own Personal Roadmap to Business Success? Take Command of Your Business with the Prime Strategies Business Success System Course. Gain the confidence to make well-calculated strategic business decisions in spite of challenges and crossroads.
Included is a step-by-step guidebook, interactive tools to organize your thinking and your actions, plus coaching audios to support you as you take each step in the system. It's totally risk f*r*e*e because it comes with a 100% satisfaction *guarantee*.
Order Now
Events
February 11, 2008, 8 a.m. - 5 p.m., Crowne Plaza Hotel, New York City
I'm REALLY excited to announce Small Business Summit 2008, http://smallbiztechsummit.com, taking place on February 11, 2008. Our team is feverishly working on creating another high-energy, high-interaction event that attendees remember and come back for year after year.
It's about bringing together entrepreneurs and executives in small - midsize businesses to learn from the experts, from each other, find new resources and make new friends.
Join hundreds of other wonderful business owners and decision-makers seeking to learn, share, connect and have fun. This year we have a contest with a fabulous prize; plus lots of giveaways and a raffle. Check it out, http://www.smallbiztechsummit.com/2008/contest.htm.
Early bird discount (expires Feb. 1st) saves you $50, http://www.eventbrite.com/event/77143739.
Small Business Summit 2008 starts when you arrive. Be there!
http://smallbiztechsummit.com
Feature Article
Critical Success Factors for 2008
By Marian Banker
For the December 1999 issue of Small Business Leader I wrote an article called "Critical Success Factors for 2000". In reading it over this week I realized the same success factors are true for 2008, so I decided to share it with you again. I've made minor updates, but the essence and factors are the same.
Each business has its own unique combination of critical success factors, but some are important for all businesses. Here's my list for the year 2008.
1 - Identify and implement the technology needed to support your business and its growth.
Technology has evolved dramatically since 2000, and it's needed even more today. You can't afford to ignore technology. It can reduce manpower needs, increase efficiency, reduce overall costs and create the means to reach new markets, add new products and significantly improve your bottom line. The key is to know the technology that makes a difference for your business. Be careful not to take on technology for its own sake.
2 - Use the skills and resources of others to open growth opportunities and provide support outside the core mission of your business.
The virtual nature of today's business means that you can tap into resources that previously would have to be purchased through capital expenditure, employee commitments or long-term arrangements. What you can't provide through core capabilities can probably be better and more efficiently provided through strategic alliances where each alliance partner realizes a benefit from working together.
3 - Operate from a Plan based on your business vision.
Even though the speed of business will likely continue to grow, having a basic business operating plan and budget as the framework to keep things in focus and on target is more important than ever. At least quarterly, review the results of actions and update your Plan. Staying on top of the financial picture, especially cash flow, means problems will be identified early enough that you have time to take corrective action before a crisis occurs.
4 - Find the balance between online and offline activities that's right for your business.
This includes marketing, public relations, customer service, business development and, of course, e-commerce. Certainly you'll reach a broader market by waging a multimedia campaign, but if your budget is limited, try weighting your efforts in areas that are less expensive (online, public relations, press coverage). Make sure your online and offline messages are consistent.
5 - Improve ways to gather customer information for the purpose of personalized marketing and service.
The more you know about your customers, the better you can meet their needs. Gathering and using detailed individualized information--the basis of customer relationship management--has become a specialty industry itself. It covers everything from registering specific page visits on web sites to tracking frequency of purchases and products purchased. The value of personalization is being able to retain customers and sell them more while cutting inventory and marketing costs.
6 - Think global, even if your business is strictly local.
Today businesses of all sizes across the globe can interact and share information, technology and products. Consider what global trends are affecting availability of resources, increasing or decreasing demand for your product or service and where there's an unfilled need you might be able to meet. Look at the global marketplace for new ways to compete. Seek global alliances that will allow you to enter a new market or augment an existing capability.
7 - Create an environment where every employee replicates your passion, caring, and sense of ownership.
Clearly communicating your vision, mission and goals to your staff is your job as leader. But by giving the incentives of ownership and decision-making freedom at every level you can attract and keep the most talented and qualified individuals for each job. By fulfilling a mentor role and instilling this attitude in all staff, the strengths of each individual can be directed toward the benefit of the organization.
With these factors in place for your business, you're on a solid foundation to compete in an ever-expanding and competitive marketplace. Here's to a productive and prosperous 2008!
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Get your business ready for a successful 2008 with the Year End Check-up, http://primestrategies.com/checkup. You'll be walked through a review of 2007, an assessment of your business right now, and from that you'll create a strategic plan for 2008. It's easy and a great value. Special discount offer ends December 31st.
Small Business Leaders' Marketplace
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About The Publisher & Feedback
ABOUT THE PUBLISHER:
Marian Banker has been publishing Small Business Leader since January, 1999. Her focus is on bringing to the busy entrepreneur a quick look into the current world of small business from the perspective she's gained through coaching, consulting and training entrepreneurs in both service and product based businesses.
Marian offers individual coaching, business support groups, seminars and workshops on topics of critical interest to small business owners. Her monthly Lunchtime Telephone Roundtable has proven to be a popular way for business owners to come together around a specific business topic without leaving their office. See notice about this month's topic in the content above.
To learn more about her services, visit http://primestrategies.com.
FEEDBACK:
Your feedback is always appreciated. Please write to marian@primestrategies.com.
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COPYRIGHT 2007 SMALL BUSINESS LEADER
A publication of Prime Strategies, 333 East 23rd St., New York, NY 10010
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