Welcome to my blog; how nice of you to join me.
Last week was a little crazy (writing a business plan can be that way sometimes). My client has this great idea and a terrific product, so we just needed to define goals and then target some dates. That’s always a good thing. In business, achieving goals is good, but achieving them in good time makes money. His business plan is sound, but needs some fine-tuning.
This little company is designed to personally instruct people about how to use their nice digitial SLR cameras. There are a couple of instructors who are quite knowledgeable and very easy-going: a good balance of expertise and camera-side manner. So, how to take advantage of their market placement–expertise and friendliness at a very reasonable cost to the student. Hmmmm, well, read on.
My client’s company is called
Evalimi
and they have a nice niche in the greater Sacramento area. Goal (besides making more money): Be seen by more camera enthusiasts. This seems simple, but the goal within the goal is how to be seen by more camera enthusiasts while keeping control of the advertising and marketing budget.
In my business plan “How to” book, I make a simple point:
Use a Cost-Benefit Analysis worksheet to determine which of your ideas or products can yield the most revenue. Look at the time spent on each product, as well as the cost of manufacturing and operations. The same can be done with a service or an idea. Which yields the most revenue for the least cost? Do quality issues outweigh quantity issues?
So, we spent some quality time identifying markets (people) and the means to reach those markets (advertising). Then we determined that a blog and some well-placed print ads would be a good start. When you’re trying to make a business work and succeed, it isn’t always easy to “wait and see” and hope that things work out. But in some cases, you need to be patient. And in this case, we did our homework and identified some pretty specific markets to pay attention to.
The adjustments were relatively minor, but well-targeted. Much success is due to the fact that Evalimi’s business plan is well-written and thought out properly. So, we had a good foundation on which to work.
Remember, the business plan should still serve as your guide. Your Mission Statement should still be relevant and continue to drive your company’s direction.
Thanks for stopping by.
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on Friday, September 11th, 2009 at 2:37 pm and is filed under Business Plans, Uncategorized.
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Thanks for reading my blog. I’ve added a new post and will try to do so weekly. Sorry for the delay in replying. Crazy challenges. Scott
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