For many years, my business efforts were focused on helping client companies market their products and services. I was an advertising agency creative director for five years. On day one, there were just two of us. Five years later, we had a lot of clients and a team of 36.
Our sales and marketing efforts worked. When the owner closed the agency for medical reasons, I created a virtual ad agency. Six months later I had seven clients, all on the list of the largest companies headquartered in Orange County, CA. That was my goal, and I reached it.
Working with companies that were large and small, I learned many things. One of the most important was that entrepreneurs need a bullet-point marketing plan. They need to focus some of their energy on finding new customers and the rest on delivering excellent products and services.
Short answers to the following questions will give you an excellent marketing plan.
Writing a business plan is one of the important steps an entrepreneur needs to take before launching a new business. There is no shortage of people who feel that writing a business plan is an intimidating task. However, many business owners are likely to agree that their plan played a major role in their ability to launch and grow a profitable business.
A business plan isn’t about the document itself, it’s about the discovery process you use to create it.
Business plans can be tackled in a number of different ways, but all should go after the same result – to clearly demonstrate the viability of your business to generate revenue and turn a profit. Your plan needs to state the business case for the business itself, discuss marketplace, financials, SWOT analysis, and much more. It’s a lot to think about.
Too often owners decide to jump right in rather than take the time to properly plan. The benefits of planning – and the investment in the time it takes to write the plan – are invaluable in the end. Thinking through your start-up costs and revenue projections ahead of time, for example, will help you make the types of decisions that could be the difference between your business losing money or generating a profit.
When you’re ready to start your business plan, create manageable goals and hold yourself accountable for meeting deadlines.
The easiest way to get started is to create a task list with manageable goals and deadlines. Here are some tips to make writing a business plan less intimidating and easier to accomplish.
Marketing a niche product means that you’re not selling to everyone. You are focused on a group of people who are most likely to buy your products or services.
Having a narrow pool of potential customers comes with challenges and ultimately means more work on your part to find those people who fall within your niche. However, marketing a niche product also has advantages once you identify your customers.
Successfully marketing a niche product starts with an in-depth understanding of your potential customer’s wants and needs.
When you are targeting a small group of buyers, you need to understand who is most likely to buy your product and how your product can provide solutions to their needs.
Start with a bit of market research. Google can help you find lots of useful information. You can also visit the Kitsap Regional Library and speak to an adult services librarian. The library website can give you access to valuable information.
The economy helped many small businesses thrive in 2019, but 2020 could be a whole different story. SCORE’s latest infographic highlights the outlook and challenges for small businesses in 2020. You will find hot links below the infographic. Continue reading →
The path to business ownership is an exciting journey. As you embark on your journey, you need a few things to successfully reach your destination. First and foremost, you need a good roadmap or GPS to successfully navigate your way.
The SCORE Startup Roadmap, sponsored by FedEx, guides your journey, from your business idea through opening your doors to customers.
Whatever startup route lies ahead of you, the Startup Roadmap provides direction along the way. It will help you chart a course to success, minimizing detours and dead ends so you can get to your goal faster. This Roadmap will take you from the initial step of defining your business idea through your ultimate destination: launching your business. In each chapter, we’ll teach you what you need to do and give you the resources and expertise you need to get it done. Continue reading →
If you apply for an SBA loan, your loan won’t be from the SBA, and you won’t make your payments to the agency. Instead, the SBA approves lenders to provide loans to small businesses under their loan programs. Continue reading →
“A library patron who wants to buy vacant land made a one-on-one research appointment to investigate mobile home parks in Kitsap, Mason, Jefferson, and Pierce County. The lack of affordable housing in the area weighed on her and she wanted to use her resources to provide housing for families who are burdened by a high rents or long commutes. We were able to identify all the mobile home parks in Kitsap and its neighboring counties, who their owners are, what their annual sales volume is, and build a geographic heat map that showed their locations relative to one another. She left with handle on potential gaps in the market and a more focused sense of where it makes sense to look for land.” — Carina Wood, Kitsap Regional Library, Silverdale Branch