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Posts for October 2010

How to promote your business with a killer case study

October 27, 2010 by Jane Lee

Case studies are stories describing how a customer’s business has benefitted from using a product (or service). They can be in written, podcast (audio file) or video format.

Aside from actually talking to potential customers, case studies are a great way of showing off what you do well and getting your business noticed. They can be used on your website, newsletter or brochures, but I want to focus on using written case studies for public or press relations (PR) because getting coverage in places like websites, magazines and newspapers is a fantastic way to generate leads and build brand awareness.

What makes a good story?

Marketing case studies are often too ‘hard sell’ for putting in the media. Editors like a subtle approach with only one or two direct references to the product and the story tightly focused on the customer’s experience.

A good case study needs three basic elements: a business challenge faced; the solution found; and, most important, the benefits gained.

But you must also engage your readers and tell a story with a strong angle. Find something topical, like Polished Bliss who has flourished in the recession, or Stinkyink.com who overcame online fraud problems. Maybe combine a business interest with a human element, such as fulfilling a lifetime dream, or how a company overcame a major obstacle as The Cake Store did when it beat off competition from local supermarkets.

Having decided on your ideal customer and storyline, ask if the company is happy to co-operate – explain the mutual benefits, such as free publicity.

Who should write the case study?

You can always hire a freelance copywriter, a PR specialist or journalist who knows your field. They may cost a few hundred pounds, but it’ll be money well spent. To find one, ask for recommendations at networking events or on social media sites – you’ll be inundated. Always ask for samples of a writer’s work, to check their style. Ensure that one rewrite is included in the fee. Not even an expert will get it right first time.

Once you’ve chosen a writer, give them a clear brief. Tell them the length/word count (typically 500-750 words); the product(s) you want promoted; and the benefits you want highlighted. Fix a deadline for the first draft and then introduce the writer to your customer personally. After that you can leave it to them to arrange the interview.

Of course, if you want to write it yourself, if you have the ability, it’s a great way to get to know your customers. Once written, get someone you trust to check it over, because we become blind to our own mistakes. Try not to be upset by any criticism; ask if the piece ‘reads well’ and makes your point.

DIY writing tips

  • Case studies can be in the first person (“I”) or the third (“he/she”), but if you use “he/she” pep it up with quotes from the customer, to make the story easier to read.
  • An alternative style to prose is using a question and answer format, as in this piece on Plain Lazy’s use of social media for marketing.
  • Give it a strong title that encapsulates the story, such as: “Acme Co grows customer base by 100 per cent using Nuclear Plastiwidgets”.
  • Use statistics to show the difference the product has made and the benefits gained. Ballpark figures are fine.
  • Avoid jargon and terms such as ‘market leading’ and ‘unique’ – no one believes them! Write out any acronyms in full the first time followed by the abbreviation in brackets, for example, Internet Service Provider (ISP).
  • Include your website and contact details for more information.
  • Show the case study to your customer before you send it off, both as a courtesy and to check the content is accurate. Maybe they could use it in their own marketing?
  • Many editors like to use ‘boxes’ highlighting the key facts, for example, industry sector, size, location, date of founding and the benefits covered in the story in condensed form.
  • You need good photography. Ask your customer if they have any “high-resolution” photos (ie 300 dots per inch). You need interesting angles and not just boring, front-on headshots. Look at photo libraries online for inspiration or (if you have enough budget) hire an experienced professional photographer. They’ll cost less than the writer and a good picture makes people want to read on. If possible, give the editor a choice of pictures.

Where to publish

Your target is the publication most relevant to your real audience: your customers and prospects.

Write a summary of your key points and email it to the editor. Only approach one publication at a time, to avoid being accepted in two places. You can try the story in more than one place, but only if you target titles in different sectors using different angles. Editors want “exclusive” stories. 

Once accepted, you may be asked to shorten the piece to suit the space available.

Now it’s over to you…

Don’t forget to put your case study on your own website and refer to it in your customer communications. If you’re on Facebook or Twitter, post a link.

Now go out and find a satisfied customer – one who’s happy to talk about the benefits your product has given. Let me know how you get on.

Jane Lee from Dexterity is an independent PR consultant specialising in IT companies and small businesses.

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The Apprentice: turning flour into dough

October 21, 2010 by Rachel Miller

Missed the third episode of The Apprentice? Catch up here.

The Task

Fortnum and Mason, Piccadilly. Lord Sugar, Karren Brady and Nick Hewer, stony-faced as ever, have called in the candidates to give them their next task — turning flour into serious dough. They have to make large amounts of bread and cakes, get orders from suppliers and also sell their wares on the streets of London. The team names are the same — Synergy and Apollo — but the players get shifted around so it’s no longer a competition between girls and boys.

The best bits

It’s all about multi-tasking and while each team is good at some things, neither manages to get it all right. Getting it all right would be essential in the real world of course. There are three key components to the task — getting orders, making the baked goods and selling the remaining stock on the street. All this requires careful pricing and planning. So what happens? Synergy (headed by Melissa Cohen) secures limited orders but the team shines in the bakery where it manages to create an effective production line churning out bagels and croissants  — arguably much easier when you have few orders. Apollo (lead by Shibby Robati) manages to pitch well — perhaps too well — and rashly promises to deliver 1900 units to a five star hotel.

The worst bits

So what goes wrong? Synergy is hopeless at pitching and has no idea what to charge. Given five minutes to think about their strategy by the hotel management, they take a full fifteen minutes and only secure a limited order when Alex steps in with prices at the last minute. Apollo, meanwhile, has given its baking team an impossible task. And sure enough, the next morning, they arrive at the hotel with only 16 — yes 16 — of the 1000 bread rolls ordered! The result? They have to pay the hotel compensation of £130.

The losers

Both teams end up selling just under £1000 of bread and cakes. But Apollo’s profits are hit by its compensation payment. So Shibby is in the firing line and he nominates Paloma and Sandeesh to take the flak too. But they can’t — or won’t — help him and this week it is Shibby who gets the chop. As ever, Lord Sugar also has words of warning for another candidate and it looks like Sandeesh is on borrowed time.

The ones to watch

A couple of the candidates are clearly learning how to play the game. Joanna “gobshite” Riley and Stuart “everything I touch turns to sold” Baggshave radically toned down their attitudes and may last longer as a result.

Quote of the week

“They sold cheap and it wasn’t a pretty sight really.” Nick Hewer watching Synergy giving away a box of muffins for a tenner.

The benefits and pitfalls of having a business partner

October 21, 2010 by Chris Barling

Finding the right partner to help you start up your business more than doubles your chances of success.

Benefits

First there’s resource. Your business will have more financial resources and a wider network of family and friends to help.

Then there are strengths and weaknesses. Very few of us have all of the talents needed to succeed in business. If you think this isn’t you, watch the X Factor for an object lesson in over-confidence in one’s own ability. With two people, you have a greater chance of covering all the things that matter.

Then, there’s morale. It’s hard to start a business, and with two there’s always one to cheer up and urge the other on.

Finally, growth is easier. The biggest first step in growth is usually recruiting your first employee. When there are two of you, the recruit only increases the wage bill by 50 per cent, which is much more manageable.

Challenges

But there can be problems. Let me give you some real life examples. A friend of mine went into business with a partner and after several highly successful years, the relationship became strained to the point where both hated going to work.

My friend offered to buy out the partner, but with the relationship broken, the other party was uncooperative. Feeling desperate, my friend upped the price in an attempt to close the deal. Finally, all was agreed, but he had to put all of his assets on the line and take a loan from the other party. Unfortunately, the long period of wrangling had undermined the business. Unable to meet the loan repayments, my friend ended up losing everything – his job, his house and the business.

In another example, a different friend split from his business partner. The partner, again after much wrangling, took most of the existing business with an agreement to make payments on a percentage of sales. However, the business partner set up a subsidiary; made sales to the subsidiary at a highly discounted rate; then the subsidiary sold the products to the end customer. The result was the ex-partner effectively stole from my friend, although it was probably legal.

Two tips

The problem with partners comes when you fall out. Of course, in the heat of enthusiastic start-up this seems a distant prospect, but it eventually happens in many cases. So I would offer two pieces of advice.

The first is to make sure your potential partner has integrity. If they don’t, were you to split, they will try to defraud you. I parted ways with my business partner. It wasn’t easy and it wasn’t a happy time. But because he had integrity, he didn’t try to “do me down”. In fact, despite the tensions, I still trust him.

A quick way to check if a potential partner has integrity is to ask them about the cleverest things they’ve done in business. If they boast about how they outsmarted (defrauded) other people, you can expect the same treatment if you ever seriously fall-out.

The second recommendation is to draft a “shotgun clause” between you. This allows, at any time, one partner to offer to buy out the other. The recipient of the offer can then choose to either sell or buy at that price, but they don’t have the right to refuse. This is a great way to get to a fair valuation of the business.

Despite the horror stories, partnership is still more than worth the risk. It’s better to have a problem sharing the pie, rather than have no pie, it just pays to take care. After all, you will probably spend more time with this person in the next few years then you will with your personal partner.

Chris Barling is Chairman of ecommerce software supplier SellerDeck

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Why you need to blog for your readers first and search engines second

October 19, 2010 by Fiona Humberstone

Blogging has many benefits. It will help you build relationships with your clients and prospective clients. It enables you to demonstrate your expertise and helps you gain immediate feedback on an idea. And done correctly, you’ll also gain targeted leads. Oh, and the traffic you receive from your fabulous content will also help you in the search rankings.

There’s a reason I added SEO (search engine optimisation) as an afterthought – it’s because it should be when it comes to blogging. SEO is a nice outcome from a good blog – not the reason for its being.

At a recent blogging workshop I ran, a large chunk of our audience was motivated to blog because of the perceived SEO benefits. They felt that if they could manipulate their blog to bring them in thousands of visitors, that would have a positive impact on their website. I’m delighted to report that by the end of the day they all felt different.

Your blog will receive thousands of visitors if the content is great, if it looks good and you post regularly. You’ll build up a following of loyal readers who will recommend your blog to their friends and where it features in the search engines will be but a distant memory. You’ll be generating enough business from the blog that it won’t matter.

Recently, I stumbled upon a blog that had clearly been contrived to provide search traffic for the writer’s business. It was an imagery-based website and the images were gorgeous. Sadly, I felt a little “used” because the writer clearly wasn’t writing for my benefit, she was writing for the search engines. She’d clearly handpicked a couple of search terms (and no, I won’t tell you what they are). Every blog title was pumped full of these keywords. And scrolling down the list I could see this wasn’t a one off, this was a search engine optimisation onslaught.

Imagine this blog, full of lovely images but pumped full of keywords that mean very little in relation to the post they’re describing. How would you feel as you were reading it? Like a valued reader who just had to return to see what said company had been up to or a little used and worthless that the point of the blog was simply to scramble the website up the search rankings?

There’s an art to using your blog to gain traffic and pumping your titles and posts full of “clever” keywords. I’m not suggesting that it won’t work from an SEO point of view – I’m sure it does. But my point is that this isn’t a blog.

A blog is your chance to journal what’s going on in your world. It enables you to showcase your expertise, build relationships and generate profitable business. Make the most of the opportunity: if you don’t, your competitors certainly will.

Fiona Humberstone, Flourish design & marketing

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The Apprentice: cuulis and cat fights

October 15, 2010 by Rachel Miller

Missed the second episode? Catch up here.

The task

Heathrow Terminal Five. The candidates are hoping to jet off somewhere hot. But Sir Alan is just messing with their minds. The two teams are staying in London to design and produce a beach accessory and try and sell it to three retailers — Boots, online retailer Kit2Fit and World Duty Free.

The best bits

Product design always entertains. The boys plus Stella English come up with a multi-purpose towel/bag/cooler which they call the Cuuli complete with umlauts. They’ve succumbed to the temptation to create a product that does several different things. It makes for an entertaining if amateur pitch. But this multi-function approach rarely works in the real world. It fails to impress two of the retailers but Kit2Fit does put in an order for 100 units.

The worst bits

The girls come up with a product that is almost as bad as the cardboard camping shelving unit of the last series of Junior Apprentice. It’s a device to hold your book. But it doesn’t do that very well and the girls get no orders at all. Worst of all, however, is the moment when the mighty Boots offer to work with the girls on improving the design as long as they are prepared to offer exclusivity. An amazing offer. And team leader Laura Moore turns it down. Accusations fly in the boardroom. It’s not cool — or even cuuli.

The losers

The girls have blown it and Laura brings Joanna Riley and Joy Stefanicki back into the boardroom with her. Joanna’s crime is to be a self-confessed “gobshite”. Joy’s, it seems, is that she hasn’t pulled her weight. Laura made a colossal mistake turning down Boots’ offer of exclusivity. But she says, “I never make the same mistake twice”. The result? Joy gets fired and Joanna gets a warning from Sir Alan to work on her aggression. The girls as a whole get a massive telling off from Karren Brady for making business women everywhere look bad.

The one to watch

Stella English absolutely shines this week. She is in her element on the boy’s team and starts by saying, “I have no problem whatsoever in whipping these boys into shape”. Sure enough, she quickly establishes herself as team leader and the boys are putty in her hands. She does a great job of managing the project and as a result, she gets a big thumbs up from her team in the boardroom.

Quote of the week

“I’ve been called the battering ram, the bulldozer and the bulldog. I tend to stick my teeth in and I tend not to let go.” Melissa Cohen

Missed this episode? Watch it on BBC iPlayer here.

Flexible working: is it good for businesses?

October 12, 2010 by Simon Wicks

Employer relations minister Ed Davey has announced an extension to the right to request flexible working, which will allow 288,000 more parents to have their requests to work flexible hours formally considered by their employer.

Davey has also revealed that the government is preparing a consultation on a universal right for all employees to request flexible working, saying: “We want to make sure the law better supports real families jugging work and family life, and the businesses that employ them.”

But what do small businesses think? We asked Matthew Jones (MJ), founder of Open Study College what he feels about staff having flexible working hours.

Q: How many people do you employ? Do any of them work flexibly?

MJ: “We employ 20 people and currently allow many of them to work flexibly if they wish to. It boosts staff moral and leads to a more relaxed working environment. Some of our staff commute a reasonable distance to work so we also allow people to work from home during bad weather; it’s safer for everyone and ultimately means they aren’t spending unnecessary hours travelling.”

Q: How is increasing the right to request flexible working likely to affect you?

MJ: “We run a small office so absent staff always have an effect on us. We do have to be aware of presence for time-sensitive roles, but providing our customers don’t suffer and the work gets done on time we look auspiciously at requests for flexible working from staff with or without children. Increasing the age limit will have a minimal effect on our business.”

Q: Is flexible working for all employees a good idea?

MJ: “Flexible working can be a very positive concept providing it is fair, managed and controlled. It leads to a better working environment and more motivated staff. It also makes us appear forward-thinking to our customers and suppliers. It can sometimes be a pain when trying to book meetings and ensuring staff are available, but this is a small trade-off when you consider the benefits. It can help greatly with day-to-day activities such as booking doctors’ appointments and takes the stress out of having to wait for an after-work slot.”

Q: How clear has the government been that this is a right to request, not a right to have?

MJ: “The government has been clear that flexible working is not compulsory, but whether this will filter down accurately I can’t say. But we are clear with our staff regarding what is available to them and it seems to work well.”

Q: Will having this right help to create a “fairer, family-friendly society” as Ed Davey claims?

MJ: “I believe that there’s an inherent problem with childcare and how society deals with it in the UK. While laws and guidelines have been put in place to support parents, it would seem that “childcare” by its very nature has not changed much for a long time, in terms of the hours in which children can be looked after. I would also like the government to help on the other side of the coin, too, with the children themselves, as I don’t believe an employer should be completely responsible for the entire burden of childcare.

“Unfortunately, with today’s strain on purse-strings many families find it hard not having a two-parent income when bringing up children, so we try and do what we can for our staff. It certainly won’t affect our staff here because they already receive these benefits.”

Not all business owners and managers are in favour of giving the right to request flexible working, however. Charlotte Williams of recruitment and HR company Novalign told us:

“The new law could have a negative impact on some small businesses who may feel pressured to accommodate requests for flexible working. This could result in additional and possibly unaffordable costs, inability to compensate for employees with flexible working hours and a detrimental impact on the business’ performance including failure to respond to customer demand.”

What do you think? Please leave your comments below.

The catalogue is back

October 11, 2010 by Fiona Humberstone

After years of believing the holy grail of marketing was a flashy website with plenty of SEO activity, online retailers are getting back to basics and placing the catalogue at the heart of their marketing campaigns. It’s a clever strategy and something small businesses would do well to take heed of.

In our age of information overload – hundreds of emails a day, blogs, Twitter and other social media – the catalogue (to borrow an analogy from a famous beer brand) quite literally reaches parts other marketing media can’t reach.

A catalogue is intrusive. It lands on your doormat or desk just when you’re not expecting it, with its “oh so evocative” photography and asks you to sit down with a cup of tea and see what’s the latest must-have.

A catalogue will travel round the house with you: from kitchen table to sitting room, up to the bathroom and your bedside cabinet. A catalogue can be marked, written on and well thumbed. You interact with a catalogue physically in a way you simply can’t with a website. And you can dip in and out of it at your leisure. In fact, you’ll probably revisit a favourite catalogue much more than you will a website. A catalogue is a truly powerful medium.

To sell successfully online, you need an offline strategy, too. The big retailers know that. The White Company, Viking, White Stuff, Boden and Isabella Oliver have been doing it for years. Small businesses understandably see doing away with their catalogue as a way to save money in a tight marketplace – but it’s a shortsighted strategy.

A catalogue is your branding tool. It will underpin your web and retail propositions and help your business become memorable. According to The Catalogue Exchange, when you mail a catalogue, 45% of recipients will visit your website. You compare that to an email campaign where if you get a 17% click-through you’re doing well and you can see why the big companies haven’t given up on direct mail.

For every £1 spent on a catalogue, The Catalogue Exchange says you’ll get back between £2 and £5 in store or online. And if you run a luxury brand – or any brand come to that – you need to differentiate or die. A catalogue, with its evocative brand images, space to properly communicate and the way it intrudes on your customers, will help you do that.

I’m not for one moment saying you should ditch your online marketing methods, but what I am suggesting is you look at where your marketing spend is going, and invest it in the activities that are going to give you the greatest return. Put together a proper strategy that you believe will bring you a real return. If you’re spending anything on advertising, you can afford to create a catalogue. Advertising will build brand awareness if you’re lucky (and you chuck lots of money at it). A catalogue will bring you a return on your investment.

Fiona Humberstone, Flourish design & marketing

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The Apprentice kicks off with a banger

October 07, 2010 by Rachel Miller

Missed the first episode? Catch up here.

The task

It’s midnight in the boardroom and Lord Sugar has called in the 16 new candidates all hoping to be his next apprentice. Two teams — the girls and the boys — are tasked with creating their own sausages and selling them for a profit. They have 17 hours.

The best bits

Watching the stall-holders of Smithfield market make mincemeat (sorry!) of the candidates as they try and negotiate the best price for the meat they are buying. The boys leave one stall-holder abruptly after they have negotiated a discount so when they eventually come back to him, he puts the price back up! I am also loving this year’s fabulous crop of names — Raleigh Addington, Stella English, Paloma Vivanco. They could be straight out of a Jilly Cooper novel.

The worst bits

The boys’ appalling and sometimes abusive sales technique. The boys’ disgusting-looking sausages. The boys’ lack of “synergy” — their team name. It was a bad day for the boys.

The losers

Dan “shouter” Harris. No-one had a good word to say about boys’ team leader Dan. So he got the chop. But Sir Alan was also sorely tempted to boot out Stuart “everything I touch turns to sold” Baggs as well.

The ones to watch

Stella English and Liz Locke quietly got on with some impressive number crunching and came out looking like contenders.

Quote of the week

“On paper you all look very good. But then so does fish and chips.” (Lord Sugar)

Missed this episode? Watch it on BBC iPlayer here.

Are your backoffice systems good enough?

October 06, 2010 by Matt Bird

Like it or not, computer systems are a part of everything to do with operating your business and are crucial to its success. An ideally tailored system, one that is adaptable, usable and affordable, will transform your business and be a huge enabler for future expansion. No matter how talented you and your staff are, a poor system will hold you back.

I certainly know that the recently introduced backend systems at my business Stinkyink have exceeded all expectations in how we can adapt and scale them to our changing needs. And I believe it is possible for any start-up or small business to be just as fortunate.

Any system that does what we need is fine

While the above statement is true to a certain extent, don’t let it control the direction of your business. An inflexible system, while satisfying your initial needs, can hold back a new business idea for pushing yourself to the next level. This “future-proofing” is key, especially as a start-up. The path your business takes will rarely be the one you imagined, and this highlights the importance of being supported by one that can survive in a changing environment.

The old systems and their providers had no intention of implementing features that are now crucial in all areas of our business and the backbone of the excellent service we provide. We would still have been good on the old software, but now we can be great.

Behind any good system there is a good team

Adaptation and scalability are key for a backoffice system, but there are other critical success factors. Dedicated support from the software supplier, knowledgeable employees and – crucially – an ability to take criticism and user advice, should all be part of the service. The sheer scope and reach of some backoffice systems, depending on the complexity of your business model, make training a necessity, and the quality of this training will heavily impact how much you get out of your system.

The best way I can sum up the ideal support team for your backoffice system is that they take any criticism or request that you, the user, highlights, and see it as an opportunity to enhance the package, for others as well as you. We are lucky enough to have that with our supplier, AxisFirst, and the efficiency gains we have experienced with little tweaks to the original system really are priceless.

Even if you’re happy – look around!

I am all for loyalty, but the sooner you can implement your ideal backoffice system, the better. Even if your existing one performs well, question it.

  • Are there criticisms you or your staff make frequently?
  • Something you’ve been told is not possible?
  • A day-to-day activity that should really be automated?

It is a competitive market, so look around. You might be surprised how the system developers begin to think outside the box and things become possible when you see what competitors are offering.

Matt Bird of printer cartridge supplier, StinkyInk

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How vital a website is in the new media age

October 05, 2010 by Stuart Fuller

You have put together your business plan, your competitor and customer research and written your marketing plan.  Hands up who thought about the simple matter of a domain name or a website? 

“It doesn’t matter,” some of you will say, because you aren’t going to be selling anything online, but where do you think more than 90 per cent of the UK population now looks for information on a business? The days of flicking through Yellow Pages for a local plumber are long gone. Nowadays, people use their PCs or their smartphones to see who is local – and what other people have been saying about them. Would you buy anything from Ebay if the seller had 100 per cent negative feedback? Exactly. The same is true of any business today. People will want to know who you are and the first place they will go to find out is online.

So, setting up a website is complicated, time consuming and expensive right? Not at all. Anyone can build a website now, thanks to simple tools available freely online. 

Organisations such as Wordpress and Blogger mean you can have an attractive website up and running in minutes. And get this: it’s free of charge, too. 

Every business should have a website, even if it’s a simple one-pager saying who you are, what you do and how people can contact you, it’s a start. Your website is your most vital employee, one that can work for you 24/7, 365 days a year, across the globe. It’s your virtual shop, one where you can communicate to your potential clients and they can communicate back with you.

So where do you start? Well, getting a domain name is your most important step. A simple domain name check will give you the answers to what is available. And for as little as £4.99 per annum you can take the first step in protecting your burgeoning brand online.

Remember, domain names are unique, which means once you have it, no one else can.  So immediately you have a competitive advantage and you can start thinking about how you will take over the world. Well, maybe just your town or city for starters…

Stuart Fuller is the Business Manager for Nordic Region & Online Markets (UK & Denmark) at Easily.co.uk. He is an expert on websites and Internet services.

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Plan properly to avoid pitfalls and potholes

October 04, 2010 by Emma Wimhurst

Would you ever consider setting off on a long, unfamiliar journey without your SatNav or road map and only a dribble of fuel in your tank? 

You might make good progress for a while, but before too long the roads will narrow, your fuel gauge will hit zero and your mobile will show no signal. HELP! Oh, if only you’d bothered to plan ahead!

Funnily enough, business planning is just like going on a journey. You know your destination, that fine place called Success. But knowing where you want to end up isn’t enough because you need to plan your route, too. And you must be vigilant, watch out for obstacles and steer clear of roadworks – not to mention bad weather and mile-long traffic jams.

If you’re serious about starting a business, you need to be serious about planning. You must focus on your ultimate goal – fabulous success – and determine your route towards it. This ranges from the grand plan right down to what might seem like insignificant details. If you plan for all eventualities – however small – you’ll know exactly how to deal with them when they, inevitably, crop up.

I took this approach in starting and running Diva Cosmetics and it quickly brought me success and wealth. Now, having moved on, I feel that passing on my knowledge called Seven Business Disciplines to budding entrepreneurs like you will bring you success. If strategic planning (my first discipline) is about visualising your destination, then business planning (discipline two) is how to plan your route to get there.

Let’s look at planning basics. What is a business plan? In a printed form, it’s a surprisingly slim document. Only 25 or 30 pages with a front cover carrying the business name and logo. Inside, the business idea is thoroughly investigated and includes supporting facts, figures and research. The writing style is easily readable within bite-sized paragraphs and technical jargon and waffle are banned. Titles and headings are concise with the overall structure being simple, focussed and well-organised and there are, of course, no errors (whether spellings, grammar or figures).

If the thought of sorting out your business planning sounds daunting, long-drawn out and too demanding of your scarce time, you should take comfort in the fact that this initial burst of effort will pay real dividends. This one document – and all the research that you’ll need to carry out for it – will help you decide whether or not the idea will fly. It will signal your chances of success and how to go about achieving it.

What are the key elements you need to include?

  1. The Business Background
  2. The Product/Service
  3. The Market
  4. Marketing/Sales Strategy
  5. Regulatory
  6. Risks
  7. Financials

Once you’ve dealt with these elements you’ll be in a position to write an executive summary, a two-page summing up of your start-up. It should be convincing enough to excite potential investors, as well as boost your own confidence. Although this is written last, your summary should be at the front of the plan, where it needs to pack a powerfully persuasive punch.

When you’ve finished that first draft, you need to step away from the process. Return to it a couple of weeks later and read it several times. Make notes, gather more data and rework parts that don’t read well. Double check your facts, especially your figures, because they need to stack up and be impressive. Make sure the tone of the document shouts the right message. Does it ignite your passion? If not, revisit the words you’ve used and choose more dynamic, proactive, positive language.

Ask a business colleague, mentor or supporter to review it. This must be someone you trust, who has good judgement, knows you professionally and has an insight into your industry. Ask them to be honest and use their comments to hone what you’ve already done. After all that hard work, don’t allow it to languish on your desk. Instead, actively use your plan for reference, it will help you make good business decisions, take fewer risks and keep customers in the front of your mind.

At Diva Cosmetics, right from start-up, I updated my business plan regularly and used it to keep ahead of the competition. By focussing on the business, I was able to make decisions about staff requirements, how to expand the team and in what areas. I was able to review costs, check suppliers and understand the implications on the business should anything go wrong. I would undertake a full competitive review each year and adapt the marketing strategy on the basis of it.

My advice to you is to make your business plan a “living” document that evolves and adapts as you progress on your journey.  Remember that planning is a necessity and if you want success you can’t afford to ignore it. So, I hope your journey into business is a smooth one – no collapsed drains or muddy old tractors up ahead for you – and do make sure you check your fuel gauge!

Emma Wimhurst is a motivational business speaker, mentor and author

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