Tag: Business Plan

28
Jan

Marketing Your Small Business: Target the Right Audience

As a small business owner, every dollar counts. That’s why it’s essential to be efficient and make sure your marketing efforts are reaching the right people. The key to success is to clearly define your target audience and tailor your marketing efforts to appeal to that specific group of people. Talk to them where they are.

“Stop interrupting what people are interested in and be what people are interested in.” —Craig Davis

To be the most compelling in your efforts, it is important to talk to the right people about the things that are of interest to them. One of the first steps in identifying your target audience is to determine demographics. This includes things like age, gender, income, and education level. Understanding these factors will help you create campaigns and messaging that will resonate with your target audience.

“Focus on the core problem your business solves and put out lots of content and enthusiasm and ideas about how to solve that problem.” — Laura Fitton

But demographics alone aren’t enough to fully connect with your target audience. Understanding your audience on a deeper level will fortify your ability to personalize messaging and the customer experience. To know your audience more intimately, consider psychographics, which include things like lifestyle, values, and interests. With awareness of audience psychographics, you can create campaigns that align with their values and interests, making them more likely to engage with your brand.

“Content marketing is really like a first date. If all you do is talk about yourself, there won’t be a second date.” – David Beebe 

Another important aspect of targeting your audience is understanding their behaviors. For example, if your target audience is primarily on social media, it makes sense to focus your efforts on building a strong presence on those platforms. Or if your target audience is more likely to search for products or services online, it’s important to focus on local Search Engine Optimization (SEO) techniques to increase your visibility in search results.

“Content builds relationships. Relationships are built on trust. Trust drives revenue.” — Andrew Davis

Building a strong online presence is essential for any small business. A well-designed website and active social media channels can help you reach a wider audience and increase brand awareness. Additionally, by optimizing your website for local SEO, you can make it easier for potential customers in your area to find you. An email platform can assist you in delivering the right message to the right people at the right time. 

“When you combine the Buyer Profile with Buying Insights, you will have clear guidance for the decisions you need to make to win their business.” Adele Revella,

Create a persona for your buyer. Buyer personas are detailed descriptions of a company’s target customers and can be time-consuming to create and maintain as they change with market trends and the company’s offerings. Invest in the process. Explore the variables that affect how prospects decide to purchase. What is the customer journey? What does your buyer care about? What are their needs? What features matter? What holds them back from deciding to buy? With this insight, you can create messaging and efforts to actually affect change. Revisit the persona regularly and update it to reflect changing landscape of the the times.

For every business owner, it’s important to take the time to understand your target audience in order to tailor sales and marketing efforts to reach and appeal to them. By understanding customer and prospect demographics, psychographics, and behaviors, you can create customized campaigns that will resonate with them and ultimately drive conversion. With consistent messaging, building a strong online presence and utilizing local SEO techniques can also help increase visibility and reach potential customers. Having the right strategies in place to address the needs of your prospects, you can make the most of your marketing budget and see real results for your business.

15
Jan

How to Create an Effective Marketing Event Calendar and Massively Change Results

Create a marketing calendar of actions that works backwards from desired annual revenue. 

Creating a 12-month launch and promotion calendar that works backwards from your desired annual revenue can be a game-changer for your business. It’s a powerful shift in thinking that can help you scale a profitable business that works for you, even when you’re not working.

CRITICAL PRIORITIES: It is essential to focus on your critical priorities and sequence your efforts so that you’re not working late nights and weekends. By following these steps, you can create a marketing calendar that will generate the leads you need to fill your programs and help you achieve your goals.

CALCULATION: The first step in creating this calendar is to calculate the number of people you need to say “yes” to in order to achieve your goal. Once you know this number, you can work backwards to determine the number of leads you need to generate, and the promotions and launches you need to execute.

CUSTOMER EXPERIENCE: A great way to start creating your calendar is to think about the different stages of the customer journey. This includes awareness, consideration, and decision making. For each stage, you need to create content that is tailored to the specific needs of your target audience. For example, during the awareness stage, you might create blog posts or infographics that provide helpful information to people who are just learning about your industry. During the consideration stage, you might create case studies or webinars that demonstrate the value of your products or services. And during the decision making stage, you might create email campaigns or social media ads that encourage people to take action.

CHANNEL PLANS: You also need to think about the different channels you’ll use to promote your business. This includes social media, email marketing, search engine optimization, and paid advertising. For each channel, you need to create a plan that outlines the specific tactics you’ll use to reach your target audience. And it’s important to sequence these tactics so that you’re not working late nights and weekends.

CONTENT CREATION: One of the keys to success is having a clear and focused content strategy. This means creating a 12-month content marketing calendar that will help you generate the leads you need to fill your programs. Knowing your critical priorities is essential to making this happen. Focus on creating content, promoting your business, and serving existing clients all at the same time. And again, it’s important to sequence these priorities so that you’re not working late nights and weekends.

Working backwards from your desired annual revenue to plan key marketing activities is a powerful shift in thinking that can help you scale a profitable business that works for you. By focusing on your critical priorities and sequencing your efforts, you can create a marketing calendar that will generate the leads you need to fill your programs, and help you achieve your goals.

  • Calculate the number of people you require to say “yes” in to achieve your goal, then work backwards to determine the number of leads you need to generate, and the promotions and launches you need to execute.
  • Boost business with a powerful shift in your thinking to support you in scaling a profitable business that works for you (on autopilot—even when you’re not working)
  • Build your 12-month marketing calendar so you have enough leads to fill your programs
  • Know the Critical Priorities you must focus on to create content, promote, and serve existing clients all at the same time, and sequence them so you aren’t working late nights and weekends.
11
Mar

Pricing Strategy: Keep It Simple

Don’t overcomplicate pricing. When it comes to setting prices, many people get overwhelmed.

Pricing is based on many factors. Ask yourself: How are your services delivered? Hourly? One and done? In the service industry, packages are most popular. What products do you offer? How are you positioning your offer (mass appeal, high value, luxury, etc)?

Three pricing models for service businesses:

  • HOURLY: your client pays for your time
  • PROJECT: your client pays for a tangible deliverable such as a logo or a time-based deliverable such as consulting — this is the easiest price model
  • RETAINER: your client pays a recurring monthly amount for a specific number of hours whether used or not

Three general pricing strategies and the +/- for each:

COMPETITIVE: Charge standard industry rate, plus or minus. This is easiest to start, establish price aligned with competition and increase as your reputation grows.
+you know what the market will bear
-clients may be willing to pay more based on value and positioning

PENETRATION: price your product or service at your lowest agreeable rate to build a base of clients or consumers
+get clients quickly
-likely you will be undervalued

NEED: what you require for income (what do you want to earn, and divide it by hours for service or units sold for a product)
+you get what you need
-this doesn’t account for all time or all value

A HYBRID approach with these strategies is optimal. Determine a price for your offer or package, then discount to build your client base and get results, then reduce the discount to raise your price as demand grows. Alternatively, add value with bonuses. This keeps the price for your product or service at the highest level.

Consider who you serve and what the competitive arena of alternative solutions available to them. This will give you an indication what the market will bear and you can adjust for penetration and necessary income. It is important to price at the highest level because you can always discount or reduce, which is easier than to raise prices once established.

7
Nov

#ScriptYourShift for Sweet Dreams

As a business owner who helps other companies create business plans, personal plans, and strategic plans, it can feel like I don’t even have enough hours in the day to get everything done. Lately, in fact, I have been low on sleep, trying to cram in that one last thing before I go to bed every night. With the seasons changing, my body and emotions have been shifting, and I have been out of touch with my body telling me to practice self-care always.

Part of running a business for businesses is sharing your vulnerabilities because there will always be something that resonates with the reader. I encourage you to reach out to me and let me know what resonates with you, to see if we can take this journey toward our thriving futures together.

Everything is a learning experience, and at one point this past week, I had crammed so much in that I was overbooking, and found myself overwhelmed with the sheer amount I had to do and the little time I had to do it. Like others who take pride in how hard they work, I had considered my work haul and long hours to be a testament to my strength – but this week it got the best of me, and I knew I needed to make a change.

For this reason, I made a decision to cancel or reschedule any appointments and tasks which were over-booked, and I made a point of ending work each day at a set time and letting myself sleep early. Lately, I had forgotten a little how valuable it is to take care of yourself, and it felt so relieving and calming to have sufficient sleep again.

I chose to go through one task at a time at work, from start to finish, because so often being overwhelmed comes not from how much effort and time is required, but rather how many results we are trying to achieve at once. Learning to not demand of yourself the ability to grossly multi-task, and learning to get through one thing from start to finish before starting the next, is invaluable to a business owner.

It is crucial to always remember that we are only human, and, more importantly, that that is okay, and that it is not okay to expect our superpowers to always be on display. For me, letting people know that they are superhuman only sometimes and must accept that they will not be superhuman all the time is part of the #ShiftYourScript strategy. If working with me sounds like a fit for you, reach out today to learn more about how I can help your company prosper.

Business planning does not simply involve a layout of all the details for operating the business – as a strategic planner, I also work closely with the entrepreneurs and business owners to effectively run their companies by keeping their own personal lives and their emotions and well-being accounted for. As they say, if your room is a mess, you are a mess….and if you are a mess, then your business will be a mess, and your life will be a mess.

If what I say resonates with you, then reach out to me today, and we will get started putting your script in order, one step at a time, breaking through all the barriers holding you back from a thriving company. Planning a business takes time and diligence – and I am here to guide you every step of the way.

 

30
Aug

3 Things I Learned from My Recent Failure

Every failure feels like a crushing defeat that makes me question my self-worth and purpose. While I desired to wear multiple hats, meet every request, and bring a success, my toolset is incomplete and my skill across all disciplines is far from mastery. I can be chef and sous chef and wait tables, but that dilutes my genius. Attempting to focus on my strengths, I was asked to “stretch” and I agreed. In this effort, I could not reach far enough fast enough—though I gave my all in every attempt.

The course-corrections taken did not lead to smooth sailing. Resources were slim to none and new demands came on so strong, it was like drinking from a fire hose. I kept trying … and I will continue to seek the most productive outcome in every endeavor… still, I have not met with the delight of complete satisfaction.

Sometimes when you try to be and do everything, you become nothing, or a lot less than all.

However, when asked to step up to the plate, you gotta give it all ya got! Especially with a startup gig. The rush to get on base often requires concurrent planning and execution. Stutter steps happen along the way as the path becomes clarified and players come in and out of the game.

My “lane” is the strategic development. I create the brand plan—and the client team implements it. Areas for possible trip-ups include that there isn’t complete buy-in and there aren’t resources for implementation. Both of these bumps were present on this path, along with other challenges.

Still, when working for the vision, it is tough to realize disappointment. The victories drive action while defeat deflates momentum. I can only own my role — the few ways I could make a stronger player.

There were moments of victory. The joy of accomplishment fed my spirit till the next shoe fell behind in the race to forge ahead. When the brand plan was embraced and approved, things looked promising. And then there were the “squirrels” and distractions. Clients often desire to refresh the look before it takes hold. They want variety for the sake of amusement—not for the efficacy of impression. And, in the end, the client is always right. I can only create the plan, get approval, and remind them to stay on plan. When it is insisted to veer, I can only attempt to redirect traffic. And, often, I did.

I dared and I fell short of desired results. It would be tempting to come up with a single reason that things didn’t work out. But it isn’t that simple. And I must wrestle with, scrutinize, and learn from every misstep—as well as the few successes along the way. Perhaps I shall awaken to a new calling—all I know is that I’m trying to find my way. Here are the key takeaways from this unanswered prayer.

FIRST, make sure there is a PLAN.

If there is no plan, then there are only two choices. One is to create a plan and two is to walk away. I accepted an invitation to assist with marketing and branding projects for a startup in transition. There was a website, there was a business structure that was being revised for multiple entities — The Icon, The NonProfit Organization, The ForProfit Organization.

There was no plan. No vision. No mission. No strategy. At least, nothing in writing. Nothing shared. Here I offered to craft a short-term solution but the priority was set otherwise. I should have insisted on that being created or established in writing before proceeding. Instead, I took the carrot and ran with the project and its evolving particulars.

Thus, when I agreed to create a brand strategy for The Icon, it was an effort that stood alone and actually would be expected to lead all other actions. However, I was not in a position to be a leader in the developing organization structure, and there was no staff on board in the organization(s) to lead.

This leads to, SECOND, make sure there is staff or PERSONNEL to assist with execution. 

After attempting to bring in colleagues to flesh out the talent pool, and realizing personality conflicts with the client, I made the mistake of attempting to fly solo and find resources along the way. I was in charge of developing the overall strategy for The Icon brand, however, it became clear that there was no implementation team. While there was an intention to assemble and hire a team, there was not a network in place.  

Wanting to bring my “superpowers” and to realize success for the project, I took on the tasks of implementation across platforms that, strategically, required being revised, updated, or created. I spread myself too thin and I employed my adequate but not masterful skills of design, webmaster, leader, and etc to attempt translating the brand strategy across marketing efforts. I called for help and called out the gaps. Some were filled. Others remained gaping.

It was a disaster at best. The issues were many-fold. Time ticked away at its unforgiving pace and I was losing efficiency bouncing from one last-minute priority to another as deadlines flew in my face like pixels in a video game. People came in the fold for a while — for instance, a woman stepped up to take charge of social media — and the relief of assistance was further taxed by the need to train and align them. 

For this, I created a plan — the Social Media Strategy was developed to assist brand presentation across Facebook and YouTube. From distinguishing a Profile from a Page and then concurrently creating a Celebrity Page on top of the existing NonProfit Organization Page plus planning for an eCommerce Page for exquisite items in the warehouse, this effort quickly scaled beyond reach. And, then the social media manager left the building.

With my hands full, I failed to pick up the threads and weave them into place, and I realized there was no clear path for reconciling all the loose ends. There was nowhere to turn.

So my last major key lesson is, THIRD, make sure there is a PROCESS—or that there are many processes—in place to support success. 

Key processes include Defining, Supporting, and Reporting. The reporting structure needs clear definition so that attention can be brought to the weaknesses and shortfalls in order to thwart disaster. In the changing business structures, the Board of Directors members revolved in and out of the organization, and then disappeared. The one consistent Director traveled for work and was not a businessman so had little efficacy in leading the pack, though he took responsibility for funding all.

Expectations were often unclear and the scope of work changed during each project. I created and executed a series of Social Media posts that were determined to be off-brand after the fact — so I deleted all of them. Getting aligned was difficult and getting approvals was even more difficult. All input and feedback came from The Icon, who really should not have been bothered with such detail, and yet there was nowhere else to turn.

A process for defining the details including deadlines and every duty would assist progress to the plan. And a system of support is critical. Weekly meetings would veer off agenda so effective review didn’t happen and next steps were not certainly determined. I failed to create a place to give shared visibility to all so that changing dates and demands would be communicated undeniably and in a timely fashion. 

I failed to uphold “no” when demands grew beyond my ability to stretch. I failed to “stop” and regroup to ensure alignment and support. I failed to find a way to voice requirements for success in a way that would capture attention and yield success that was better than haphazard. “Step up!” it was commanded. Get ‘er done! Then, even the victories got lost in the fog of let down.

I couldn’t dissuade the escalation of activity so disappointment was the way. This won’t be my experience next time, not at the next opportunity.

And a bonus key comes to mind; FOURTH, make sure you are a fit, PERSONALLY.

Camaraderie and cohesion aid accomplishment. While I met weekly with The Icon, I rarely felt heard. While I respect and revere the position of The Icon, I worked to remain objective. I did not find a way to drink the kool-aid and still serve in my hired role. Keeping out of the grey area meant keeping out of the cultural current. I attended a couple events to get to know the energy of The Icon’s work, as direct experience assists understanding and the ability to message it. Still, I felt it important to serve in my role rather than be served by The Icon. I stayed on the sidelines, in my lane of hired hand.

So again, perhaps I am not a fit in this as I see the newly hired full-time staff immerse themselves in the flow while taking on challenges full force. Or perhaps this is the plight of a contractor vs an employee — always on the outside looking in.

While I am drawn to The Icon and the work, I have a perspective of an observer and I keep my personal boundaries with great care. It is, perhaps, not the best alignment for this particular client. With full-time staff on board, there is a new direction emerging. So be it. I will hang on to the glimpses of achievement in the sea of simultaneous engineering this startup went through. Growing pains. Awkward like adolescence. Now taking off to experience the next stage of expansion.

My goal is to learn from this adventure in failure. To hone my strengths and shore up my weaknesses. And, one day, the people who doubt me will be the ones who talk about the one day when they met me. I might even be one of them.

I should have declined projects when we discussed that I was the wrong person for the detail work. It was out of alignment with my skill set. When asked to step up, I did. I should have said no. Still, some things went well. Overall it was disappointing. In trying to be everything, I was reduced to nothing.

9
Apr

10 Points You Must Cover in Your Initial VC Pitch

You are a startup looking for a VC and a VC is looking for a startup. So how do you convince a VC to take your call or meet with you? You send them a deck — make sure it is stacked in your favor.

Start by developing and refining the reasons why the VC should meet with you. Organize your presentation with most persuasive and logical order of reasons. Make sure to punctuate with visuals — simply add headlines or bold leads to your paragraph or include illustrations. And, definitely, cover the ten critical points.

  1. THE DETAILS. Announce the name of your company, where it is located, the round, how much capital you wish to raise.
  2. THE PLAYERS. Introduce your team. Include the expertise each person brings.
  3. THE USP. Capture attention with your Unique Startup Proposition — what are you solving? Is this a necessity or a luxury? What is most impressive about where you are with it right now? It could be the team, the technology, the growth, etc. Get the VC excited about the possibilities.
  4. THE POTENTIAL. Show the VC the size of the opportunity. The projected market must be large enough to provide ample return on investment. Do your homework here and make it relevant to your specific vision or solution. Complete this picture with how you stack up to beat competition. Explain how you plan to scale.
  5. THE THING. Present your product. Whether it is a prototype or a blueprint, an app or a service, include as much detail as you have defined. Use all media that is available to portray the product with optimal clarity.
  6. THE PLAN. Outline your go-to-market strategy. How will you approach and capture your market? What will help you build your tribe? Do you have a website?
  7. THE WAY. Explain your business model. How will you generate and capture revenue? Online, salesforce, multi-tiered marketing? There are many options.
  8. THE KIPs. Show the numbers. Not just a spreadsheet, include charts or graphs that quickly communicate your Key Indicators of Performance or success.
  9. THE ASK. Yes. Ask for it. Let the VC know your needs — the money, the time, the support, the connections — and request to meet in person or via Skype to proceed with next steps.
  10. THE CATCHPHRASE. End with a battle cry. Make it unforgettable so that whatever the decision regarding your request, your startup will be remembered.

Make sure your presentation is clear, concise, and complete with compelling information and arguments. Brand the pages in a way to give repetitive attention to your startup name, logo or other identifying feature. Prepare the narrative for your presentation, ensure that it translates with or without you. May the VC be with you.

Also published via Medium and originally created for Invest Southwest, here.

8
Mar

Pearls of Wisdom

It was an honor, a privilege, and a joy to step out on stage and present “Script Your Shift” to the Pearls of Wisdom tribe. What a perfect place to cut a groove in this new chapter of my life. In case you missed it, here is the video. For a Pitch Perfect session, eMail me at Tamara@TamaraParisio.com. Let me assist you to create the script for your starring role in your success!

SCRIPT YOUR SHIFT. Write down your goals. Business Plan, Personal Manifesto, or Strategic Map, put pen to paper to improve performance. Dr. Gail Matthews, a psychology professor at Dominican University in California, did a study on goal-setting with 267 participants (it only takes 30 to be statistically significant). She found that you are 42 percent more likely to achieve your goals just by writing them down. A modality employed to make the process entertaining rather than daunting is to approach your plan as a script for your success. And, you are cast in the starring role as the lead character. Here are three examples of clients who stepped into the celebrity of their success.

Anita Miranda the Official Lipstick Reader

CHARACTER

From psychic fairs to celebrity parties and luxury events, Anita Miranda stepped up into high heels to expand in stardom as The Official Lipstick Reader.  

CAST

After establishing her starring character, Sherry Anshara attracted the supporting cast, including influencer Vishen Lakiani of mindvalley.

SCENE

To set the scene, Donna Sparaco shows up in full character, Daily Dose A Donna, to motivate and inspire with her proprietary program, Set Your Dial to Joy.

Download a pdf of the Script Your Shift handout.

1
Dec

Manifest Destiny in 8 Key Areas

Take Action in 1 Area at a Time with These 6 Steps

There are eight key areas to self-actualization: Visibility and Voice, Relationships and Love, Purpose and Destiny, Career and Prosperity, Health and Vitality, Spirituality and Connection, Impact and Influence, Creativity and Manifestation.

Select one area and focus your intention to create a change. The other areas are affected. Success in one area leads to improvement in another.

“In order to carry a positive action we must develop here a positive vision.”— Dalai Lama

  1. Set a Bold Intention. Break through a pattern of being stuck with focus and intention. Focus your energy from your heart. Select a specific outcome in a key area. Then, allow your mind to open and create the strategy.
  2. Remove Inner Barriers. Identify and release your limiting beliefs. Connect with your deeper truth so you can show up authentically and realize the experience you desire.
  3. Create from Inside Out. Cultivate your intuitive mind. Ask yourself, “If all of life organizes around my success, what do I desire to create?” Connect with your self. Allow yourself to access an inner source of knowingness. Be curious and receptive.
  4. Generate Support. Surround yourself with people who encourage you. Create partnership. Enlist assistance.
  5. Create Accountability. Design a project where you are accountable to something bigger than your self. Show up. Grow into every step.
  6. Make a Commitment. Do what it takes every day. Get organized. Get training. Get going. And, as advised by Wallace D Wattles, “Do, every day, all that can be done that day, taking care to do each act in a successful manner.” 

Spend time every day with your Playbook. Review your vision, contemplate your dream, feel your purpose, and list your actions. Share this process with those who support you. Let me know which area you are working in and how that work changes everything.

21
Jul

3 P’s of Your Startup Business Plan

There are so many business plan templates to prompt the presentation of your map to success. Some are tailored to one industry or another. Others are boiler-plate MBA outlines. Still, at the center of every business plan are three key points — your purpose, your plan, and your progress indicators.

PURPOSE

Your first challenge is to define your startup’s purpose for being. The raison d’etre for your burgeoning business. What pain point do you serve and in what way? What is the intention or objective of your company? Defining the purpose of your business reveals what needs to be done to move it forward. Clarifying can include a simple description of your products or services, or it can elaborate on detailed offerings, as well as a precise description of who you will serve — your ideal customer. Outlining your purpose will define what the business is — where you are starting — and what it intends to be — your future vision.

PLAN

Once your purpose is revealed, you need a plan to reach your vision. Define your goals and the steps needed to reach them. A map of goals will help you and your team know when to act, and when to wait. Factor for future growth in the business plan to prepare for changes in the market, evolving trends, innovations to pursue, or opportunities to take as your company grows. A a comprehensive business plan includes statistics, facts, and details that show whether or not your startup has the potential to be profitable. This is a critical factor when soliciting investors to provide capital required for getting started. Your plan outlines the organizational structure of your business, including positions and individual duties. This is a game-plan for your entire team, keeping everyone working together with an eye on the prize, from partners to suppliers, leaders, and employees of your venture.

PROGRESS

Know your metrics. Measure your results. Note how you have progressed. Without progress that confirms you are on target, it can be difficult to know whether you are still on the right path. Validate your intent and results, daily. Be sure you and your team are prepared to make operational decisions in line with the overall business strategy. Your plan shows the way and includes alternate actions the company will follow if projections are overly optimistic. Referring to your plan helps maintain a big-picture view as you make day-to-day decisions.

Your business plan is a living guide for your vision. It is a reference and a management tool to ensure efforts are aligned to meet goals, targets, and milestones.