Changes in the economy call for some adjustments in your marketing strategies if you're an existing business. If you're in planning mode, your business plan should reflect these changes as well. Here are some of my top 5 strategies that you can work on right now to help you attract customers and conserve resources.
1. Any hint of a recession and people start spending less on non-essentials. Make sure your plan reflects essential uses of your product. For existing businesses, reposition your unique selling point to reflect essential use or create additional products and services that are more essential in nature. How-to's, improving quality of life, promoting health, increase productivity and financial well-being, etc.
2. Niche it, niche it, niche it. Identify a specific target market that would derive the most benefit from what you have to offer and focus your attention there. You'll spend less in building awareness and have the opportunity to create a more successful viral marketing campaign.
3. Make sure your planning includes research of the fastest growing markets for
2008. Besides luxury, health, seniors, and pets, you'll find some surprises for the next few years. Capitalize on it!
4. Spend more time communicating with existing customers. Create a strong referral marketing program to help increase your customer base. Develop additional products, with varying price points, and continuity programs to offer existing customers.
5. Develop your markets before your products. Avoid manufacturing products prematurely. Build a subscriber base, pre-sell to buyers, joint venture early on. Talk to your market early on and often to make sure you're on track.
To your success!
Maria Simone
www.MariaSimone.com
Tuesday, February 26, 2008
Sunday, February 3, 2008
Small Business Funding: The "Haves" And The "Have-Nots"
What’s the difference between businesses that get start-up capital and those that don’t?
I’ve heard it literally thousands of times from inventors and start-up entrepreneurs “I have the best idea on the planet --- why can’t I get anyone to invest in me?” Every entrepreneur has the opportunity in this country to seek funding to help launch their idea yet very few do it successfully. It has everything to do with the opportunities you can actually create for yourself. Those who seem more successful at the process have the following steps in place. Don’t skip out on any of these steps if you expect to acquire funding for your own BIG IDEA:
1. An idea is only an idea unless you do something with it. Do as much as you can with your idea to give it more value --- develop a prototype, patent it, find out if there is a market for your idea, get endorsements from those who would buy it, test any aspect of it that you can. You can accomplish more than you think without money at this stage.
2. Write a business plan showing what you intend to do with the idea and what’s involved to develop it. These thoughts may be floating around in your head still but unless they’re committed to paper, no one can help you. Plus, writing out the plan will show you the work that needs to be done in order for it to be successful. Think of it as a roadmap.
3. Exhibit passion for the project, not desperation, so that people will know you’re committed to seeing it through. An upbeat and confident attitude speaks volumes. Not there yet? Then work on YOU.
4. Have people around you who know what they’re doing. If you haven’t developed an idea or raised capital before, it’s best to surround yourself with people who’ve been down that path. Experience on your team speaks volumes.
5. You need to have contacts to potential investors so you can have investing conversations with them. If you don’t travel in the circles of high net worth individuals, then figure out a way to start meeting them. Attend different networking events or social gatherings. Talk to your neighbors or colleagues at work. Attend events designed for investor connections. Meet people who can start making introductions for you to potential investors. Get mentoring from those who can open these doors for you. The money is all around you.
6. Learn the language of capital so you can relate to investors. There are certain legalities involved with raising capital that you’ll want to learn. Also understand that investors don’t want to know all the details of your invention. They’re more concerned about how you intend to launch your idea, if there really is a market for your idea and how they are going to get their money back.
7. Be humble, grateful and genuine. No one appreciates arrogance or an entrepreneur with overzealous expectations. Be real with potential investors so they can get to know and trust you before investing.
8. Take in and process all comments, critiques or criticism from potential investors. Always. Don’t take anything personally and don’t react negatively to what anyone is saying. You’re getting free advice and those that take it, grow from each experience and can re-visit any “no” later on in the hopes of getting a “yes”. That has happened to me several times. You couldn’t do that if you’ve closed the door and nailed it shut.
To your success!
Maria Simone
www.manifestsuccessguru.com
I’ve heard it literally thousands of times from inventors and start-up entrepreneurs “I have the best idea on the planet --- why can’t I get anyone to invest in me?” Every entrepreneur has the opportunity in this country to seek funding to help launch their idea yet very few do it successfully. It has everything to do with the opportunities you can actually create for yourself. Those who seem more successful at the process have the following steps in place. Don’t skip out on any of these steps if you expect to acquire funding for your own BIG IDEA:
1. An idea is only an idea unless you do something with it. Do as much as you can with your idea to give it more value --- develop a prototype, patent it, find out if there is a market for your idea, get endorsements from those who would buy it, test any aspect of it that you can. You can accomplish more than you think without money at this stage.
2. Write a business plan showing what you intend to do with the idea and what’s involved to develop it. These thoughts may be floating around in your head still but unless they’re committed to paper, no one can help you. Plus, writing out the plan will show you the work that needs to be done in order for it to be successful. Think of it as a roadmap.
3. Exhibit passion for the project, not desperation, so that people will know you’re committed to seeing it through. An upbeat and confident attitude speaks volumes. Not there yet? Then work on YOU.
4. Have people around you who know what they’re doing. If you haven’t developed an idea or raised capital before, it’s best to surround yourself with people who’ve been down that path. Experience on your team speaks volumes.
5. You need to have contacts to potential investors so you can have investing conversations with them. If you don’t travel in the circles of high net worth individuals, then figure out a way to start meeting them. Attend different networking events or social gatherings. Talk to your neighbors or colleagues at work. Attend events designed for investor connections. Meet people who can start making introductions for you to potential investors. Get mentoring from those who can open these doors for you. The money is all around you.
6. Learn the language of capital so you can relate to investors. There are certain legalities involved with raising capital that you’ll want to learn. Also understand that investors don’t want to know all the details of your invention. They’re more concerned about how you intend to launch your idea, if there really is a market for your idea and how they are going to get their money back.
7. Be humble, grateful and genuine. No one appreciates arrogance or an entrepreneur with overzealous expectations. Be real with potential investors so they can get to know and trust you before investing.
8. Take in and process all comments, critiques or criticism from potential investors. Always. Don’t take anything personally and don’t react negatively to what anyone is saying. You’re getting free advice and those that take it, grow from each experience and can re-visit any “no” later on in the hopes of getting a “yes”. That has happened to me several times. You couldn’t do that if you’ve closed the door and nailed it shut.
To your success!
Maria Simone
www.manifestsuccessguru.com
5 Strategies To Successfully Get Your Products Sold In Retail Stores
Over the years I have personally developed products for the retail market as well as helped others get their products into stores like Macy’s, Bloomingdales, hotel gift shops such as the Ritz-Carlton, airport stores, electronic retailers such as QVC and Home Shopping Network, and many other distribution channels. I have learned strategies of what works best to assure that I will quickly have a place on that store’s shelf when I am ready to launch. I now mentor others who want to achieve the same results and here are just a few of the strategies I share with my clients.
1. Document in your marketing or business plan all the distribution channels where you see your product selling. Your final product may actually look and feel different in each of those markets so understand your channels first before you invest lots of time and resources in actually making your product. My products in Bloomingdales do not look like a product I would sell in Costco. Prototypes work well before you’re ready to commit to manufacturing.
2. Pick your top three distribution channels and very early on, establish contact with the people in the local stores who would be considered the buyer for your classification. Every department in every store has someone who oversees the buying for that department.
3. Develop a relationship with these buyers so you now have access to people who can give you guidance on the best way to develop your products. Utilize their expertise --- they know what people want to buy.
4. When you’re ready with product and want to get a national contract with a retail chain store, it would be easier to go back to your local buyers to help you get into a local store for testing purposes.
5. If you’re selling event in the local stores is successful, work with that buyer in the local stores to help you get a national contract with the chain. Don’t go about this process alone.
Selling to the major retail chains also requires that you have adequate resources for marketing and to be able to handle delayed payments. It might be easier to start with local markets in the beginning to develop your resources and work out any product issues. Also, the more niched your product is for a certain segment of the population, the easier it is to get into your markets and create brand awareness.
To your success!
Maria Simone
www.manifestsuccessguru.com
1. Document in your marketing or business plan all the distribution channels where you see your product selling. Your final product may actually look and feel different in each of those markets so understand your channels first before you invest lots of time and resources in actually making your product. My products in Bloomingdales do not look like a product I would sell in Costco. Prototypes work well before you’re ready to commit to manufacturing.
2. Pick your top three distribution channels and very early on, establish contact with the people in the local stores who would be considered the buyer for your classification. Every department in every store has someone who oversees the buying for that department.
3. Develop a relationship with these buyers so you now have access to people who can give you guidance on the best way to develop your products. Utilize their expertise --- they know what people want to buy.
4. When you’re ready with product and want to get a national contract with a retail chain store, it would be easier to go back to your local buyers to help you get into a local store for testing purposes.
5. If you’re selling event in the local stores is successful, work with that buyer in the local stores to help you get a national contract with the chain. Don’t go about this process alone.
Selling to the major retail chains also requires that you have adequate resources for marketing and to be able to handle delayed payments. It might be easier to start with local markets in the beginning to develop your resources and work out any product issues. Also, the more niched your product is for a certain segment of the population, the easier it is to get into your markets and create brand awareness.
To your success!
Maria Simone
www.manifestsuccessguru.com
Saturday, February 2, 2008
AZHCC Creates New Initiative To Help “Recession Proof” Member’s Businesses
The Arizona Holistic Chamber of Commerce announced this week that it is undertaking a new initiative to provide a series of fresh new business resources and tools to its members who are primarily practitioners of Alternative Therapies and service providers committed to living a more holistic lifestyle. The announcement coincides with the third anniversary of the organization. The initiative will be kicked off with a business building program slated for February 23, 2008, and titled “Passions to Profits. This is a workshop facilitated by Scottsdale entrepreneur Maria Simone who will show the members and non-members in attendance how to diversify and market their talents during turbulent economic times. Other programs under development involve creating strong referral marketing programs, understanding the spending habits of their client base during a recession, and how to build more value into services currently being offered.
“Most of our members are solo practitioners who may not have all the resources for packaging and marketing their services, developing new revenue sources and tracking their client base that larger companies have. Part of the mission of the Chamber is to provide access to training so our members can build and maintain solid, successful businesses, even in challenging economic times” says Meredith Davis who co-founded AZHCC three years ago. “We are excited to be launching this series of workshops and we expect to hear some great success stories as a result of this initiative,” adds Davis.
The Arizona Holistic Chamber of Commerce is a 501(c)(6) non profit, created as an organization for business people of all professions who are committed to a holistic approach to business and life. For information about the organization and to register for the February 23rd event, visit www.azholisticchamber.com.
About ManifestSuccessGuru.com
Maria Simone - founder of ManifestSuccessGuru.com - is a speaker, trainer, writer and champion of inventors and entrepreneurs, has helped hundreds of start-ups and service providers over the years with “conscious” business planning, capital acquisition, product development and marketing. For more information visit www.MariaSimone.com. Instantly obtain a free "What's NEXT For My Business" Kit at htttp://www.ManifestSuccessGuru.com.
Ms. Simone is also the founder and CEO of a fashion accessory company with products in department store shelves. Her company profile can be seen at http://www.cityscarves.com.
“Most of our members are solo practitioners who may not have all the resources for packaging and marketing their services, developing new revenue sources and tracking their client base that larger companies have. Part of the mission of the Chamber is to provide access to training so our members can build and maintain solid, successful businesses, even in challenging economic times” says Meredith Davis who co-founded AZHCC three years ago. “We are excited to be launching this series of workshops and we expect to hear some great success stories as a result of this initiative,” adds Davis.
The Arizona Holistic Chamber of Commerce is a 501(c)(6) non profit, created as an organization for business people of all professions who are committed to a holistic approach to business and life. For information about the organization and to register for the February 23rd event, visit www.azholisticchamber.com.
About ManifestSuccessGuru.com
Maria Simone - founder of ManifestSuccessGuru.com - is a speaker, trainer, writer and champion of inventors and entrepreneurs, has helped hundreds of start-ups and service providers over the years with “conscious” business planning, capital acquisition, product development and marketing. For more information visit www.MariaSimone.com. Instantly obtain a free "What's NEXT For My Business" Kit at htttp://www.ManifestSuccessGuru.com.
Ms. Simone is also the founder and CEO of a fashion accessory company with products in department store shelves. Her company profile can be seen at http://www.cityscarves.com.
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