SMALL BUSINESS LEADER September 2006

ISSUE #85
September, 2006

First I'd like to report on the results of the brief survey we ran last month. The purpose was for you to tell me what challenges you're facing n0w and what you believe would help you address them. Thanks to all who participated. He.re is a synopsis of the results.

- Challenges listed were very diverse: marketing, funding, hiring, time management among the most frequently mentioned.
- For choice of ways to address them, 80% of respondents selected a "self-study program with instructions and tools". 20% selected a 3 month goal-specific intensive and 20% chose help getting beyond self-sabotaging behavior.
- Outside professional help had been used by 67% of respondents.
- Business-related activities enjoyed were: roundtables (in-person & phone) 83%, being part of a small business community 67%, and workshops/seminars 50%.

These results were not really surprising. It's good, however, to continue to hear from you about what you want. I'll continue to do my best to provide it.

For you "do-it-yourselfers" the self-study program with instructions and tools" is the new Business Success System Course, and it's almost ready for release. You'll be getting all the same tools and techniques I use with my individual clients at a fraction of the cost. And you'll be able to do it on your time schedule. The announcement will be going out shortly, so stay tuned.

On September 20th, Prime Strategies is a sponsor and participant in the Liminal Group's Leadership Conference, featuring Granville (Grannie) Toogood, internationally recognized communications coach. In 4 hours you'll learn transformative communication skills that are bound to change the way you think and interact. I'm very excited to be part of this event and hope you can join us.

To get the Prime Strategies 10% discount, enter PRIME as the promotion code, http://liminalgroup.com/html_email/leadership/oem_leadership_cps_prime.htm. This program is filling up fast, so register n0w to reserve your spot.

Back by popular demand (see survey results above) is the Brain Exchange Roundtable, scheduled for Monday, September 25 , from 6 to 8:30 p.m. EDT. If you can be in New York City on that date, this is a great opp0rtunity to exchange expertise, experience, knowledge, ideas and resources with other small business leaders. Advance registration is required, so go to http://primestrategies.com/bxrt and sign up n0w.

Our feature article this month is "Five Questi0ns to Help Create an Effective Marketing Plan". Use this as a guide for creating or updating your own Marketing Plan. It's also one of the 19 supporting articles in the forthcoming Business Success System Course.

Enjoy the last few weeks of summer. The third quarter is almost over and it's time to focus on an all out effort to make your 2006 goals. Please be in touch if you need extra support or guidance. I'm always eager to hear from you and help in any way I can.

To your success!

Marian Banker
Publisher
Small Business Leader
mailto:marian@primestrategies.com
http://primestrategies.com

NOTE: We have had to disguise some words in order to keep them from getting caught in the $pam filters. Please bear with us.

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**Coming Soon**

Want your 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*. Sign up n0w to receive the pre-launch notice and a very special deal, pre-launch@primestrategies.com.

HEADS UP! -- Coming in October -- The "Effective Tools for Female Entrepreneurs" Event coordinated by IWEN - International Women's Entrepreneurial Network - is scheduled for Friday, October 27th from 2-7pm at the NYU Midtown Center, 11 West 42nd St., in New York City. Join other female entrepreneurs who daily navigate the multi-tasking world of entrepreneurship in this varied, intensive presentation series. Speakers include small business experts, successful role model entrepreneurs and an entrepreneurial-focused Brain Exchange led by Marian Banker! Participants will come away with inspiration and motivation, effective tips on maximizing time and resources, as well as ideas on how to get and keep clients. For more information and to book your space, go to http://iwen-online.org or call 786-246-2318.

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FEATURE ARTICLE:

Five Questions to Help Create an Effective Marketing Plan
By Marian Banker

Questi0ns can be a wonderful tool. In planning, the key to success is knowing the right questi0ns to ask. That certainly applies when it comes to creating a Marketing Plan.

Answering the following questi0ns will provide you with information needed to create the framework for an effective plan.

What is your value message?

This is the first and most important questi0n you can answer. Until you know what value you wish to communicate about your product or service, attracting customers will be unfocused and difficult.

Consider how you're different from your competitors. Your message must clearly state the value your customer can expect to receive. And remember, there is at least some emotion behind every purchase. Your value message might be that you are timely and accurate (you're respectful), you offer a lot for a little (I feel smart buying from you), or your ingredients are top quality (I deserve good things).

"Simple fare, freshly and tastefully prepared" is the message a restaurant might want its prospective customers to get. When seeing or hearing the name of the restaurant, this is what we want them to remember. Likewise, when thinking of that kind of food, we want our restaurant to come to mind. The simpler the message, the clearer it will be. The clearer it is stated, the stronger and more "attractive" it becomes. Clarity is the key.

Of course, you not only have to sell it, you then have to deliver the value.

Who will value what you offer?

Who could benefit from what you offer? Who are these people?

For the restaurant it might be those who enjoy well-prepared fresh food made in classic ways. Something beyond the typical coffee shop, with emphasis on the quality and freshness of the food and the preparation. This is your target market. The narrower you can get the definition, the more specific your message can be.

When will they be most interested in your offer?

Your ideal customer might not "always" be a good prospect. When someone is looking for an exotic dining experience, you probably won't be able to get their attention. However, when they're hungry for a really good hamburger with fresh trimmings you have a good chance of capturing their attention.

Likewise, a collection service will likely be of most interest to a company when it's having difficulty managing accounts receivable.

Where will you find your target market?

Where do people che.ck when they're looking for a place to eat? I know my husband and I first think of the kind of food we want. Then we think where we know we can get good food at a fair price. If "simple fare, freshly and tastefully prepared" comes to mind, then we'll visit the restaurant that has left us with that memory. And we'll probably take others there as well.

Sometimes we may che.ck the local diner's club directory, online options or even the yellow pages, so it would probably be a good idea to have our restaurant's message available in those resources.

New York City has fantastic food at all price levels with all international cultures represented. Dining in New York can be a true adventure. The boroughs have especially wonderful ethnic choices.

Why should they buy from you?

Your value message must be different from that of your competitor, so you need to define and consider their message before finalizing your own.

I could eat at "Joe's Eat He.re and Get Gas" diner or the "Fast Food Chain", but I think I'd rather eat at "simple fare, freshly and tastefully prepared". The great thing about eating is customers need to do it often. Your message must bring them in and then you must resell them with the food and the experience so they'll come back again and again.

Assignment:

Answer the five questi0ns about your business. If you have an existing Marketing Plan, use your answers to update your Plan. If you're starting from scratch, you're ready to create one.

The next question to be answered is your Marketing Strategy: how will you carry out your Marketing Plan. Do your market research first and then review your $ales, product and financial history. You'll be armed with solid information to help you determine a strategy that will assure your success.

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