160412 increasing sales diversity-slides

Increasing Sales Diversityfor Members of

National Concrete Burial Vault Association (NCBVA)

orA BAD@$$ New Business in 2.5 Hours

Devin D. ThorpeApril 12, 2016

@devindthorpe [email protected] page 2

Bad@$$ Jimmy Carter

4@devindthorpe [email protected] page 4

Teton Dam


Familiar Facts

Nearly 50%--and rising--of people nationally are choosing cremation (http://ti.me/1SFodnB)

The number of annual deaths is expected to rise from 2.6 million this year to over 4 million by 2050 (http://bit.ly/1SFoaYV)

Burial vaults represent only about 20% of the cost of a funeral; the other 80% is opportunity

http://bit.ly/1SFoaYV


Assessing Your Resources

Key plant and equipment assets

Customers

Employees you just can’t lose

Your company’s distinctive competences

Your company values


Ideation Please list below all of your ideas for a new business line or division for your company below. There are no bad ideas!

• In your group come up with as many ideas as possible for new businesses• Think of business ideas that

leverage at least one of your assets:• Plant and equipment• Customer relationships• Great employees• Company competencies• Values


Evaluation

Can we make it, buy it or do it?

Can we sell it?

P: … for more than it costs?

deadbook


Market Research

Google.com

Amazon.com

eBay.com

Individual retailer websites

Funeral home websites

How big is the market?

How fast is the market growing?

How is the product priced?


Value Proposition

Statement that defines the benefit of your product or service

Why someone should buy from you instead of

their current supplier

What you do better than everyone else

Examples:• We sell burial vaults to funeral directors so

that the grounds remain beautiful for generations.• We sell burial vaults to funeral directors so

that they can meet the needs of their customers.• We sell burial low-priced vaults to funeral

directors so that they can make more money.


Selling: Start NOW!

• What do you wish your current supplier did better?• Is the product line complete?• Is delivery timely?

• At what price would you consider buying from me if I solved one or more of those problems?

Call someone who buys or is likely to

buy the sort of thing you’re

thinking of selling. (This could be one

of your existing customers.)


Marketing:

Branding:

• Will you use a brand you already use and own?

• Will you use a brand you license from someone else?

• Will you create a new brand?

Sales Channel:

• Wholesale via funeral directors

• Direct to consumer• Direct to other

business users• Wholesale to

other businesses

Pricing:

• Discount• Mass Market• Premium

Tactics

• Social media• Advertising: Trade

or mass media• Wining and dining• Inside v. outside

sales


Sourcing

Existing suppliers

Google.com

Alibaba.com

Upwork.com

Where can I buy it?

How can I make it?

Who can help me?


Minimum Viable Product (MVP):

A version of the product (or service) intended to allow you to test the market before scaling up.

How can you test your BAD@$$ business idea?


Budget: (List everything you’ll spend before the first dollar of revenue is collected)Item: Cost:

Total Cost:

MVP Budget:


Financing the MVP:

A Budget to complete MVP (from page 9)B Months to complete MVP

C Cash on hand available for MVP:D Cash flow per months available for MVP:E = B * D Months x monthly cash flow available for MVP:F = C + E Cash available for MVP before borrowing:

G Annual cash flow (EBITDA):H = G * 2 Amount you can borrow (Cash flow x 2)I = F + H Cash + amount you can borrow:

J Equity you are willing to sell to investorsK = I + J Total amount available for MVP:


One-Page Business PlanYour value proposition:Describe your market:

Your first customer:Marketing strategy:

Sourcing your product:Describe your MVP market test:

Budget for the MVP:Financing the MVP:

Timeline:Management Team: