The Art of Collaborative Thinking

“An Evening of Business Advice & Strategies”

Milton Mompreneurs®/Milton Area Female Entrepreneurs

The Mohawk Inn & Conference Centre November 26th, 2012

Who we are: •  Started in 1984 •  Incorporated Organization •  Not-For-Pro"t •  Membership of 13 unpaid volunteers •  Have had about 800 clients

Our Mission Our goal is to give back to the Greater Toronto Area business community by making a meaningful contribution to the success of our clients at nominal cost to them, by sharing our diverse skill sets and collective business experience exceeding 350 years.   We serve entrepreneurs, start-ups and small to medium sized businesses through an active dialogue and written report focused on the opportunities, challenges and issues facing your business.

What we do: •  Problem Solving •  Sounding Board: Objective Feedback •  Advice, Mentoring and Counseling

Why We’re Here Today & What We Should Talk About

1)  Concept Development 2)  Target Marketing 3)  Branding 4)  Sales Promotion

Who’s in the Audience? •  Interesting idea stage •  Getting started •  Already started •  Successful: In business 2-3 years

Concept Development All businesses start with an idea!

What is the “Need” & the “Why?”

•  Want satisfaction •  Want/Need to make money •  Want to make a product •  Want to make a business

Developing the Concept of a Business •  What is the product/service? •  Is the vision simple or complex?

•  Who will you sell to? •  Where will you work? •  Will you work alone or with others? •  How will you promote the business? •  What are the "nancial issues?

Target Marketing

Product/Service Development

• Clarify relative pro"tability

• Is "nancing available

• How unique is it

• Competitive edge

• Strong personal a$nity &

knowledge level

Market Potential by Product/Service

• Are there su$cient markets available

• How are markets trending

• Relative pro"tability per market

Target Consumer Analysis

• Demographic "t • Ethnic "t • Demographic/ethnic trends • Product/service “presentation” "t • Marketing/promotional "ts

Competitive Share by Product/Service

•  Analysis of relative market share by competitor

Competitive Analysis Workout

•  Analysis of respective strengths/ weaknesses and vulnerabilities by competitor

Competitive Edge Analysis

•  Identi"cation and clari"cation of competitive edge/value proposition/the “why me”

Delivery/Distribution Analysis

How the product/service is delivered to the market,

(current share; trending; competitive positioning; best

"t for me):

• Web/Online retail

• Traditional retail

• Distributors

• Direct sales relative

market share by

competitor

Product/Service Prioritization 1) Where competitive edges exist 2) Where does the best relative pro"tability exist

3) Which markets are largest and trending largest 4) Where is the best "t with consumer trends

5) Where availability of required resources (availability, labour etc.)

Finalization of Sales Plan You now have all that’s required to develop a powerful and targeted sales plan: 1.  A clear cut competitive edge/value proposition 2.  The “right” product/service(s), (pro"table and

competitive) 3.  A growing and pro"table target market(s) 4.  A clear understanding of your consumer segment

"t(s) 5.  Competitor market share by product/service 6.  The respective vulnerabilities of these competitors 7.  Clarity on best distribution channel "ts

Branding

What is a Brand?

Your Promise + Story + Reputation

+ The customer’s expectations and perceptions

=

A Brand is ultimately…

how others perceive you!

Leading Global Brands

Source: Interbrand, 2012

Why is Your Brand Important?

•  Brand e%ectiveness attracts customers •  Brand consistency retains customers •  Brands have signi"cant monetary value to

business buyers

•  A strong sense of brand identity is a hallmark of long-lived companies

What a Brand is Not:

•  A logo or website •  Marketing

•  Public Relations •  For large companies only •  Rocket Science

Building Your Brand

A brand is best built by developing and executing an integrated approach to consistently ful"lling the promise at each customer touchpoint.

YOUR  BRAND  

VERBAL   VISUAL   EXPERIENTIAL  

VERBAL   VISUAL   EXPERIENTIAL  

Customer Touchpoints

•  Logo •  Business Cards •  Website •  YouTube •  Packaging •  Brochures

•  Text/Font •  Blogs •  Social Media •  Email Signatures •  “Hold” Message

•   Staffing  •   Internal  Processes  •   Customer  Service  •   Exper8se  •   Company  Culture  

The 4 “P’s” of Marketing

Product Pricing

Placement Promotion

Operationalizing The Brand -Executing •  “Talking the talk and walking the

walk”

•  Identify the most in&uential touchpoints

- Where are the customers? How do they buy? Who are they?

•  Design reasons why the customer will believe/expect that the promise will be kept at each touchpoint

Your Brand

Good or bad, you have a brand - it took shape when you made your "rst sale.

Personal Branding

• A Brand Ambassador (internal/external)

• Build a reputation as an expert, “go to” person

• Live the brand or be the brand?

Resources

KAPUTA, CATHERINE, BREAKTHROUGH BRANDING, NICHOLAS BREALEY PUBLISHING, 2012   ROSS, MARIA, BRANDING BASICS FOR SMALL BUSINESS, NORLIGHTS PRESS, 2010   TILL, BRIAN AND HECKLER, DONNA, CREATING BRANDS PEOPLE LOVE, PEARSON EDUCATION, INC., 2009  

Sales Promotion Inspiration for small businesses in building awareness and converting it to purchase.

It can start with how you introduce yourself…

There are a world of low cost, high impact ideas to get

yourself known.

www.smallbusinessadvisory.com

Thank You!