Archive for November 2011
A business plan’s contents are no secret. Many books, articles, and courses describe the major sections of a business plan. Although variations exist, there are key sections common to most outlines in business planning literature.
Executive Summary
An executive summary, generally one page to a few pages at most, covers all of the main points of the business plan to come.
Company Overview or Description
The next section begins with an overview of the current situation of the company. This covers who the founders are and why they started the company, what the products or services offered are or will be, and what steps have been taken toward the launch to date.
Market Analysis
Sections detailing research and analysis done on the market for the business come next. This should begin with an overview of the market or industry, including its size, breakup, and trends it is experiencing going forward. Data on the specific customer segments and competitors for the new business follow.
Marketing Plan
A marketing plan then covers what is generally called the 4 Ps of Marketing: Product (description of the products or services offered), Promotion (the promotional tactics to be used), Pricing (the pricing strategy for the business), and Place (the location for a retail facility or other means of distribution for the product or service).
Operations and Management Plans
The next section or sections detail the plan for how the company will operate and be managed. This must include details on who the managers are and their qualifications, whether they are partners or hired employees.
Financial Plan
The business plan continues with a description of the financial results the business intends to see, and the underlying cost and revenue assumptions. The financial section also details the amount of capital needed, what the funding will be used for, and the sources of funding that are being sought.
Appendices
Finally, a business plan concludes with appendices of documents which support the plan further. The appendices include full pro forma financial statements (income statement, balance sheet, cash flow statement) as well.
I probably don’t need to tell you that business cards are an incredibly powerful way of getting your name in people’s minds.
There are several benefits to having your own business card the first being that it gives you a way to leave your impression on potential customers.
Are business cards for everyone? The simple answer: Yes. The more complicated answer: No.
Any business, at any level of complexity, benefits from business cards. But high-volume businesses typically rely on business cards at higher levels of the business–finding new suppliers, prospective employees, and other business contacts–than on the basic promotional level.
For a small business (with a much flatter organizational model, usually), business cards take on a much more vital role. This holds doubly true for skilled trades or any business that works on a client model, rather than a customer model. Customer-based businesses (from supermarkets to software concerns) benefit the most from having a large body of customers to place orders or come into the store, and business cards, for all their advantages, don’t do this as effectively as other forms of advertising. But for skilled trades and other client businesses–for example, graphic designers, efficiency consultants, and even in-home housecleaning services–rely less on a large body of customers than on a few local, trusted clients who’ll patronize the business, form relationships with the business, and provide references to friends and business contacts to allow the business to grow. Basically, if your business provides a service that a larger business needs, or that can be performed effectively for only a few local clients, business cards are essential for business success.
The other business model that benefits the most from business cards is Internet-based business.
Remember, when people leave your website, the majority of the time they forget you, your site and anything to do with you forever.
Having a business card keeps you, your business and your products & services in the mind of your prospects and if they ever have an associate ask about a service like yours, chances are they will recommend you.
Make sure you have cards handy at all times so you can share them with people who would like to have them.
A business card is one of the most important marketing pieces that you’ll develop
for your company, since it is typically the first piece of your marketing materials that
a new client will see.
One of the most debated points in business card design is whether to print
information on just one side of the card or to use both sides. There are many views
on this controversy, and here are some that we frequently hear.
The arguments for keeping the back of the card blank are that printing on both
sides has the following disadvantages:
o Not having a space to take notes while networking: Many business
people use a system of writing notes on the backs of the business cards they receive
while networking. They do this to remind themselves of the commitments they
made or to later jog their memories about the conversation. Too much printing on
the back can make this difficult or impossible. Glossy coatings on the backs of cards
can also prevent note writing.
o Rolodexes, business card filing systems, and card scanners: These are
widely used in business today, and many models don’t allow for the back of the card
to be viewed. For this reason, you should not put vital information on the back, so
that the card can still be functional when only one side is visible. Also, if your
prospect uses a business card scanner to store business cards, they might not scan
both sides.
o Greater printing expense: Printers charge more to print a two-sided card, because of the additional work and ink involved.
o Ink smearing: Some inks are more likely to smear or rub off on
neighboring sheets of paper than others; for example, blue Pantone inks are
especially prone to this effect. If you do choose a two-sided card with a field of
color on the back, then it is best to also varnish or clear-coat the back of the card in
order to seal the color in and prevent this. The varnish also adds drying time and
expense to the
The arguments for putting information on both sides are that you can use the back
to:
o Add more information: If you have a lot of contact information, putting
it all on to the front of the card will often make the font too small and the text too
dense to read comfortably. Putting some of that information on the back will free up
the front of the card and make it look better.
o Make your business card more valuable: By including interesting
information like a calendar of events, tip, or quote on the back, you can make your card more likely to be kept. Other things that you can put on the back include
coupons, appointment information, or directions to your store or office.
o Enhance your brand: The back of the card is often the perfect place for
graphical treatments and pieces of your Visual Vocabulary.
o Maximize your message: Use the back to add more information about
your business. It might not be clear to everyone receiving your card what you offer,
so you might try listing that on the back.
And it might not cost that much. Some printers will print a two-sided card for as
little as $20 extra per 1000 cards. In that case, the low price for additional “real
estate” really makes it worth the cost.
With all of these points in mind, the most effective card for small businesses is often
a two-sided card. The next question to address is what to put on the back of the card. We recommend:
o Not putting vital information on the back of the card: Since the back of
the card might get hidden or ignored in a filing system, it’s best to put all of the
most important information–like your name, logo, phone number, email, and
website–on the front of the card. If you have a physical office, you should also
make sure that your address is on the front of your card.
So what’s left to put on the back? You could put your tagline, a couple of lines that
explain your offerings, a list of your services, or a short testimonial. Or try one of
the suggestions from “Make your business card more valuable,” above.
o Try graphics: You can print a field of color, small graphic, or a simple
pattern on the back. A card with graphics on the back looks more sophisticated and
high-end, and is more memorable as well. If you don’t print in a color that is too
dark and you use a solid color field, people will still be able to take notes on the
back of the card. Just don’t forget the varnish!
If you use these tips, you’ll be able to maximize the effectiveness of your business card. Your card will go from being just a thing to hand out when you meet someone
to being a strong marketing tool.