This is a guide I compiled for you to "fill in the blank" with your business details. I highly encourage you to answer the questions in order. You'll discover online and attached resources and templates, and business acumen from many of today's greatest business minds. I hope this information helps you bless your customers' lives. https://www.linkedin.com/in/zacharytaffany
Define your golden circle concisely in as few words as possible
What is your purpose?
You're not looking to do business with people who need what you do. Instead you're looking to do business with people who believe what you believe!
Spend sufficient time to craft the perfect words for your mission/vision. This document will serve as your internal compass or guiding north star and will be communicated from top down and internally to externally
What is your differentiation?
What is your value proposition?
What need do you solve?
What is your product or service?
The function of any business is to attract and retain customers. Focus your efforts on the function and the goal of making money will be the result.
Reciprocity, Obligation to give when you receive, Be the first to give, Give something personalized and unexpected, What can you give to begin the conversation?, Sincere Compliments
Scarcity, People want more of those things they can have less of, Promote:, Benefits, Uniqueness, What they stand to lose, Do we highlight the value because of rarity?
Authority, People will follow credible knowledgeable experts, Signal that you are an authority by getting someone else to say you are, Who else can proclaim your authority?
Consistency, Looking for and asking for commitments that can be made, Look for voluntary, active, public commitments, Get those commitments in writing, Are you asking trial closes?
Liking, We like people that are:, Similar, Who pay us complements, Who cooperate with us toward mutual goals, Look for areas of commonality and genuine compliments you can give BEFORE business, Are you asking enough sincere questions about them and their needs?, Are you relatable?
Concensus, People will look to the actions and behaviors of others to determine their own, Highlight what others who are similar are doing, All of the pilots have gone into business, Who are you edifying for credibility?
Customer Profile, Age Range, Income Range, Lifestyle, Geography, Title, Industry, What do these customers want and need?, How do these customers like to find solutions?, How much are they willing to pay for the solutions?
TAM, Total Available Market is the total market demand for a product or service., Market Cap
SAM, Serviceable Available Market is the segment of the TAM targeted by your products and services which is within your geographical reach.
SOM, Serviceable Obtainable Market is the portion of SAM that you can capture., Market Share
Is your website organized with a specific purpose/function?
How do we make it easy/painless for them to request additional info?
What are the main questions we want to answer during our lead nurturing process?
What is the next step for the prospect?
The Law of Averages
Identify THEIR need
Tie their need to our solution
Problem solve to help them get what they want and need
How do we create top of mind awareness with our customers?
Start with a professional website and blog, http://webdesign.about.com/od/webdesigntutorials/a/aa070504.htm, http://websitehelpers.com/design/, http://www.creativebloq.com/web-design/tips-812580, http://www.wix.com/blog/2014/03/5-web-design-tips-for-a-professional-site/, http://www.hongkiat.com/blog/5-tips-to-simplify-your-web-design/, http://www.hongkiat.com/blog/5-tips-to-simplify-your-web-design/, http://www.howdesign.com/featured/web-design-tips-7-common-mistakes-designers-make/, http://www.forbes.com/sites/cherylsnappconner/2014/03/27/25-web-design-tips-to-honor-25-years-of-the-web/, http://www.cio.com/article/2385250/online-marketing/13-simple-tips-for-improving-your-web-design.html
Do creative things to get customer attention
Use your domain for knowledge and visibility
Focus on partners and referrals
Generate leads from multiple sources
Does your solution apply to a Huge Expanding Market?
Do you offer a Unique & Consumable Product?
Do you understand what creates Timing of the Market Trends and where does your solution fit in the current trend?
Does your program allow people to Get leverage through systems?
What need do you solve for what market?
How else can the need be solved?, Competitor Landscape
Do people know they have the need or must they be educated?
What is the Fair Market Value of your product/service?
What is the minimum margin needed for Company Profitability
How do you maximize Income Potential for the Field?
KEY:, Overhead is the enemy of profitability!
Business Approach, New Entry, Pros, Cons, Potential Risks, Potential Rewards, Competition, Start-up Costs, Sales / Revenue Forecast, Purchase Existing Business, Pros, Cons, Potential Risks, Potential Rewards, Competition, Start-up Costs, Sales / Revenue Forecast, Franchise, Pros, Cons, Potential Risks, Potential Rewards, Competition, Start-up Costs, Sales / Revenue Forecast
Business Structure, Roles, Minimum Benchmarks, Equity %, Where to incorporate?, Type of corporation?
Alex Osterwalder Business Model Canvas, Customer Segments, For whom are we creating value?, Who are our most important customers?, Value Propositions, What value do we deliver to the customer?, Which one of our customer's problems are we helping to solve?, Which customer needs are we satisfying?, What bundles of products and services are we offering to each customer segment?, Channels, Through which channels do our customer segments want to be reached? How are we reaching them now?, How are our channels integrated?, Which ones work best?, Which ones are most cost-efficient?, How are we integrating them with the customer routines?, Customer Relationships, What type of relationship does each of our customer segments expect us to establish and maintain with them?, Which ones have we established?, How costly are they?, How are they integrated with the rest of our business model?, Revenue Streams, For what value are our customers really willing to pay?, For what do they currently?, How are they currently paying?, How would they prefer to pay?, How much does each revenue stream contribute to overall revenues?, Key Resources, What key resources do our Value Propositions require?, What key resources do our distribution channels require?, What key resources do our Customer Relationships require?, What key resources do our Revenue Streams require?, Key Activities, What Key Activities do our Value Propositions require?, What key activities do our distribution channels require?, What key activities do our customer relationships require?, What key activities do our revenue streams require?, Key Partners, Who are our key partners?, Who are our key suppliers?, Which key resources are we acquiring from partners?, Which key activities do partners perform?, Cost Structure, What are the most important costs inherent in our business model?, Which key resources are most expensive?, Which key activities are most expensive?
Executive Summary by Guy Kawasaki, The Grab, The Problem, The Solution, The Opportunity, Your Competitive Advantage, the Model, The Team, The Promise $$, The Ask, Miscellaneous Tips
Business Plan by Guy Kawaski, Business Concept, Define your product or service – outline what you’re offering in its simplest terms., What problem does it address – describe the single most important problem is solves., This tells the reader what you’re offering and what problem you’re solving., Target Market & Potential Customers, Who are your target customers?, What is the market size?, How large will this market be in the next 2,5,10 years?, How do you plan to attract customers?, What is your sales strategy?, What is your marketing plan to promote your company?, Competitive Advantage, What makes your business unique?, What patent do you have (or will develop) that will generate royalties?, What makes your product than others in ways you can quantify? For example, you can provide credit cards to teenagers. Most companies are not authorized to give credit cards to teenager. You can! That’s your competitive advantage., Identify the greatest obstacles to the success of your company and not just competitors. Maybe it’s legislation, drug trials, testing, compliance, IT platforms, or other issues such as lack of experience., Competitor analysis, Who are your three main competitors?, SWOT - What are their:, Strengths, Weaknesses, Opportunities, Threats, Could you partner with them?, Legal & Managerial Issues, How will you setup the company? Most likely as a limited company but you may also consider making it a partnership, corporation, or other business type., What other legal considerations need to be organized, for example, patent protection, and copyright?, Identify the organizations, companies, groups you plan to build relationships with? For example, Chambers of Commerce, international trade organization, peer groups, industry bodies., Finances, Using tables or matrices may help present the financial data, especially for projections., How much will it cost to make your product?, How much will it cost for recruitment?, How much will it cost for marketing?, How much will it cost for equipment, software, hardware etc?, How much will it cost for operations, office, infrastructure etc?, How much will it cost for salaries?, How much total up-front investment is needed?, How will your company generate revenue?, When will your company break even?, How will you use the profits you generate?, Management Team, Describe each team member’s background., Describe the unique skills they bring to the project., Explain why this is a winning team? Why the investors should believe in the team., What other people/skills do you need to find?, Add resumes to the appendix., Appendices & Supporting Sources, Include any supplementary information (graphs, charts, statistics, research etc) that would help you put your idea in context.
Biz Plan Tutorial Videos
Financial, What are your 5 year revenue forecasts?, What is your cost estimate?, Hardware?, Software?, Personnel?, Services?, Legal?, Inventory?, Promotional?, What is your profit margin for each department?, Develop break-even analysis, Develop cash-flow projection
Sales Execution Plan, Sales, Direct Sales, Inside Sales, channel Sales, Partners, Channel Partners, Technology Partners, Solutions Partners
Go to market strategy, Positioning & Messaging, Key Messaging?, How do we communicate?, Internally?, Externally?, Promotion, Marketing Programs, Advertising, PR, Events, Webinars, Demand Generation & Lead Qualification, Prospect Lists, Key Questions to ask, Sales Collateral, Presentations, Data Sheets, White Papers, ROI Tools, Other Sales Tools
PDCA (Plan, Do, Check, Adjust) Measure and improve:, Vital Statistics, Sales Programs, Internal learning development programs, Feedback Loops for staff and customers?, Financial metrics and benchmarks, Pipeline reports and dashboards
Objectives by Department, Marketing, Increase Revenue, Reduce Cost, Production, Reduce Cost, Increase Productivity, HR, Increase Productivity, Reduce Turnover, Finance, Reduce Risk, Increase Return
Vector's 3 P's, People, Programs, Products
Dell's 3 C's, Content, Commerce, Community
Name, Easy to say, Easy to spell phonetically, Relates to your business, Or a made up word, 3 syllables or less for domain name
Logo, Start with black and white for shape, Then add color, Simple, Scalable, Memorable
What emotion do you want associated with your brand?
The function of a business is to get and keep customers., How do you acquire customers?, How do you retain customers?
Autonomy, How do people self direct within the organization?
Mastery, What opportunities do people have to improve at their trade?
Purpose, How does their work impact the organization's ONE thing?, How does their role help them achieve their personal purpose?
Benjamin Franklin, George Washington and Jonathan Edwards each made their life choice based on a list of personal resolutions. The Life Business identified the following 13 Principles as common to each gentleman’s list. These 13 Principles act as a framework to guide you through tough business and personal decisions., Purpose, The Purpose of life is to serve others and we each have unique talents(gifts) that we can contribute today., http://youtu.be/4XE-l-z0TLM, http://youtu.be/jpe-LKn-4gM, Character, Honor your word without fear of consequence, http://www.youtube.com/watch?v=RMsD5PxWA3c, Character Pre-Requisites, Purpose, Integrity, Courage, Attitude, Never whine, complain, or make excuses. Instead; give gratitude., The Key is to replace Negative Attitudes with positive action, Vision, Consciously consider your purpose, character and attitude while doing a physical activity routine in order to align the more powerful subconscious with the conscious, http://www.youtube.com/watch?v=WD440CY2Vs0, Plan/Do, Once a purpose is defined; action is simple. What do you want? What does it take? Do it everyday., Check/Adjust, Your growth can be directly tracked to how quickly you directly confront your errors, so identify measurable benchmarks/targets towards goals and correct deviation immediately, Friendship, Search for and find friends that share your passions/burdens. Always encourage them to be their very best and expect encouragement from them. ., http://www.wimp.com/cloudschool/, Finances, We have a responsibility to earn as much as possible in integrity; so that we can utilize our resources towards achieving our purpose, Leadership, Leaders use principles to build their character, task management skills, and relationships, in order to create an objective and structure that people follow and duplicate, http://youtu.be/pI0cJdOzUcQ, Conflict Resolution, Quickly confront conflict by affirming the purpose for the relationship and seeking reconciliation, 5 steps to Resolving Conflict, Affirm the relationship, Encourage, Place high value on relationship and on reward of working it out., The goal of affirmation is that both parties are validated as valuable members of the relationship., Listening is the best way to affirm, Deposit in the love and respect tanks, Seek to understand, Listen intently, Attempt to see from other party's perspective, Be curious; not furious!, Do NOT assign motives; just clarify actions, Seek to be understood, Make the goal of clear communication clear!, Re-establish intention of good communication, It is 100% my responsibility to communicate my message clearly and it is 100% your responsibility to ensure you receive my message, Own responsibility by apologizing, Own as much of conflict as possible while still being truthful, Leaders look for teachable moments, A genuine apology creates goodwill, Seek agreement, Agree on future roles and responsibilities for future relationship, Agreement creates stronger bonds and fills the commitment bucket, Agreement leads to new/renewed purpose for relationship, Systems, A system consists of the whole, the individuals, and the connections between individuals. Learn to recognize a system as any series of interconnected events or things that yield a certain result; then influence their leverage points to get your desired result., Adversity Quotient, Adversity Quotient is the ability to endure pain on the path towards purpose and it is developed by learning the relationships between the resolutions, Legacy, Leadership legacy is to live the 13 resolutions and help others learn and share the resolutions with future generations. Ultimately the best legacy one can leave is a community of high trust relationships that systematically spreads the truth of these principles through the example of their application. This is the only result that multiplies through leverage and truly lasts forever.
Launching a Leadership Revolution
Keys to Excellence, Listening with the intent to understand, Believing in and encouraging people, Clear communication of purpose, Systems to provide leverage, Clearly defined milestones to measure progress
How do you tie a points and reward system to the high value activities and behavior you want from your team and customer communities?
While it is important to consider past performance and future risk, the only thing that creates growth is action in the present!
Modeling (Leadership by example), The ONE Thing, What's the one thing I can do, right now, such that by doing it everything else will be easier or unnecessary?, What's the one thing I can do, RIGHT NOW, such that by doing it everything else will be easier or unnecessary?, Eisenhower Decision Matrix
Messaging (Communication), Messaging is about consistently communicating your vision and your progress towards the vision with both your internal team and your external community of loyal customers., How do you communicate hot news and enthusiastic encouragement to your team?!, How do I communicate value to my customers in order to create top of mind awareness?!, Does my organization's messaging reiterate the Purpose and Why?