|
| Thursday, March 29, 2007 |
| 1. Introduction to Strategic Planning |
If you don't know where your business is going, any road will get you there.
What is a Strategic Plan?
Entrepeneurs and business managers are often so preoccupied with immediate issues that they lose sight of their ultimate objectives. That's why a business review or preparation of a strategic plan is a virtual necessity. This may not be a recipe for success, but without it a business is much more likely to fail. A sound plan should:
* Serve as a framework for decisions or for securing support/approval.
* Provide a basis for more detailed planning.
* Explain the business to others in order to inform, motivate & involve.
* Assist benchmarking & performance monitoring.
* Stimulate change and become building block for next plan.
For inspiration (and a few smiles), have a look at some of the quotations and examples of bad advice included in other pages!
A strategic plan should not be confused with a business plan. The former is likely to be a (very) short document whereas a business plan is usually a much more substantial and detailed document. A strategic plan can provide the foundation and frame work for a business plan. For more information about business plans, refer to Writing a Business Plan, Insights into Business Planning and Free-Plan: Business Plan Guide & Template.
A strategic plan is not the same thing as an operational plan. The former should be visionary, conceptual and directional in contrast to an operational plan which is likely to be shorter term, tactical, focused, implementable and measurable. As an example, compare the process of planning a vacation (where, when, duration, budget, who goes, how travel are all strategic issues) with the final preparations (tasks, deadlines, funding, weather, packing, transport and so on are all operational matters).
A satisfactory strategic plan must be realistic and attainable so as to allow managers and entrepreneurs to think strategically and act operationally - see Devising Business Strategies for further insights.
Get Strategic Planning Help:
Free Online Strategic Planner for creating a 3-page strategic plan.
See Also: Expert tools for Assessing Business Ideas (US$ 219.95)
and Evaluating Marketing Strategies (US$ 785.00).
See a sample strategic plan - use the back button on your browser to return to this page.
Need More Help with your Strategic Planning ? Have a look at:
* Plan Write Expert Business Planner: Combined business plan tool and expert system to help evaluate and develop your plan.
* Quick Insight - Business Idea Assessor: Expert system to help evaluate and improve a new business idea.
* Business Insight - Strategy Evaluator: Sophisticated expert system for evaluating, developing and comparing business and marketing strategies.
Useful Links
More Info
Develop strategic plan
Devise business strategies
Write strategic plan
See planning surveys
Prepare online projections
Buy planning book
View sample plan
See Also
Get business ideas
Write business plan
Get planning insights
Prepare financial projections
Seek planning advice
Plan to plan
Business plan guide
Software Tools
Financial Planners
Expert Business Planner
Strategy Planner
Idea Assessor
Marketing Planners
Free Planners
Buy Software
Financial Projections
Cashflow Forecasts
Business Plans
Marketing Plans
Strategic Plans
Basic Approach to Strategic Planning
A critical review of past performance by the owners and management of a business and the preparation of a plan beyond normal budgetary horizons require a certain attitude of mind and predisposition. Some essential points which should to be observed during the review and planning process include the following:
* Relate to the medium term i.e. 2/4 years
* Be undertaken by owners/directors
* Focus on matters of strategic importance
* Be separated from day-to-day work
* Be realistic, detached and critical
* Distinguish between cause and effect
* Be reviewed periodically
* Be written down.
As the precursor to developing a strategic plan, it is desirable to clearly identify the current status, objectives and strategies of an existing business or the latest thinking in respect of a new venture. Correctly defined, these can be used as the basis for a critical examination to probe existing or perceived Strengths, Weaknesses, Threats and Opportunities. This then leads to strategy development covering the following issues discussed in more detail below:
* Vision
* Mission
* Values
* Objectives
* Strategies
* Goals
* Programs |
posted by azwan.fatahsz @ 2:23 AM  |
|
|
|
| 2. Key Steps towards a Strategic Plan |
The preparation of a strategic plan is a multi-step process covering vision, mission, objectives, values, strategies, goals and programs. These are discussed below.
The Vision
The first step is to develop a realistic Vision for the business. This should be presented as a pen picture of the business in three or more years time in terms of its likely physical appearance, size, activities etc. Answer the question: "if someone from Mars visited the business, what would they see (or sense)?" Consider its future products, markets, customers, processes, location, staffing etc. Here is a great example of a vision:
I will come to America, which is the country for me. Once there, I will become the greatest bodybuilder in history.......... I will go into movies as an actor, producer and eventually director. By the time I am 30 I will have starred in first movie and I will be a millionaire...... I will collect houses, art and automobiles. I will marry a glamorous and intelligent wife. By 32, I will have been invited to the White House. Attributed to Arnold Schwarzenegger who was elected Governor of the State of California in 2003.
The Mission
The nature of a business is often expressed in terms of its Mission which indicates the purposes of the business, for example, "to design, develop, manufacture and market specific product lines for sale on the basis of certain features to meet the identified needs of specified customer groups via certain distribution channels in particular geographic areas". A statement along these lines indicates what the business is about and is infinitely clearer than saying, for instance, "we're in electronics" or worse still, "we are in business to make money" (assuming that the business is not a mint !). Also, some people confuse mission statements with value statements (see below) - the former should be very hard-nosed while the latter can deal with 'softer' issues surrounding the business. The following table contrasts hard and soft mission statements.
Hard Soft
What business is/does
Primary products/services
Key processes & technologies
Main customer groups
Primary markets/segments
Principal channels/outlets Reason for existence
Competitive advantages
Unique/distinctive features
Important philosophical/social issues
Image, quality, style, standards
Stakeholder concerns
Compare the following statements:
Hard Statement Soft Statement
X Corp. designs, develops, assembles and markets systems for data base management. These systems integrate its proprietary operating system software with hardware supplied by major manufacturers, and are sold to small, medium and large-sized companies for a range of business applications. Its systems are distinguished by a sophisticated operating system, which permits use without trained data-processing personnel. Our mission is to enhance our customers' business by providing the very highest quality products and services possible. Our customer support strategy is based upon total, no-compromise customer satisfaction and we continually strive to offer a complete package of up-to-date value added solutions to meet our customers' needs. We value above all our long term customer relations.
Intel's original plan, written on the back of a menu (view copy), is an excellent example of a hard statement:
The company will engage in research, development, and manufacture and sales of integrated electronic structures to fulfill the needs of electronic systems manufacturers. This will include thin films, thick films, semiconductor devices, and ......... A variety of processes will be established, both at a laboratory and production level ...... as well as the development and manufacture of special processing and test equipment required to carry out these processes. Products may include dioded transistors ....... Principal customers for these products are expected to be the manufacturers of advanced electronic systems ..... It is anticipated that many of these customers will be located outside California.
If you'd prefer a soft statement, use the Dilbert Mission Statement Generator.
The Values
The next element is to address the Values governing the operation of the business and its conduct or relationships with society at large, customers, suppliers, employees, local community and other stakeholders.
The Objectives
The third key element is to explicitly state the business's Objectives in terms of the results it needs/wants to achieve in the medium/long term. Aside from presumably indicating a necessity to achieve regular profits (expressed as return on shareholders' funds), objectives should relate to the expectations and requirements of all the major stakeholders, including employees, and should reflect the underlying reasons for running the business. These objectives could cover growth, profitability, technology, offerings and markets.
The Strategies
Next are the Strategies - the rules and guidelines by which the mission, objectives etc. may be achieved. They can cover the business as a whole including such matters as diversification, organic growth, or acquisition plans, or they can relate to primary matters in key functional areas, for example:
o The company's internal cash flow will fund all future growth.
o New products will progressively replace existing ones over the next 3 years.
o All assembly work will be contracted out to lower the company's break-even point.
Use SWOTs to help identify possible strategies by building on strengths, resolving weaknesses, exploiting opportunities and avoiding threats.
For further discussion on strategies, refer to the paper on Devising Business Strategies as well as these items below: Use Hindsight when Strategic Planning, Effect not Equal to Cause when Planning Strategy and SWOTs - Keys to Business Strategies.
The Goals
Next come the Goals. These are specific interim or ultimate time-based measurements to be achieved by implementing strategies in pursuit of the company's objectives, for example, to achieve sales of $3m in three years time. Goals should be quantifiable, consistent, realistic and achievable. They can relate to factors like market (sizes and shares), products, finances, profitability, utilization, efficiency.
The Programs
The final elements are the Programs which set out the implementation plans for the key strategies. These should cover resources, objectives, time-scales, deadlines, budgets and performance targets.
Get Strategic Planning Help:
Free Online Strategic Planner for creating a 3-page strategic plan.
See Also: Expert tools for Assessing Business Ideas (US$ 219.95)
and Evaluating Marketing Strategies (US$ 785.00).
It goes without saying that the mission, objectives, values, strategies and goals must be inter-linked and consistent with each other. This is much easier said than done because many businesses which are set up with the clear objective of making their owners wealthy often lack strategies, realistic goals or concise missions. |
| posted by azwan.fatahsz @ 2:22 AM |
|
|
|
|
Statements on vision, mission, objectives, values, strategies and goals are not just elements of future planning. They also provide benchmarks for a historic review. Most managers will find it exceedingly difficult to develop a future strategy for a business without knowing its current strategies and measuring their success to date.
Assess Current Position
The starting point must be to determine a company's existing (implicit or explicit) vision, mission, objectives and strategies. Then judge these against actual performance along the following lines:
* Is the current vision being realized?
* How has the company's mission and objectives changed over the past say, three years? Why have the changes occurred or why have no changes occurred? Identify primary reasons and categorize them as either internal or external.
* Describe the actual strategies followed over the past few years in respect of products/services, operations, finance, marketing, technology, management etc.
* Critically examine each strategy statement by reference to activities and actions in key functional areas covering such matters as:
o How has the company been managed?
o How has the company been funded?
o How has the company sought to increase sales and market share?
o How have productivity/costs moved?
Take each element and quantify by reference to actual performance. Ask of each "why not"?, "why only"?, or "why so"? and locate the reasons for differences between the actual and desired performance.
Drill Down
A useful technique for exploring performance shortfalls is to review the business's financial return and to drill down through the components of this return to locate and assess the key determinants of performance. For example, return on shareholders' funds is a key measure of profitability which can be expressed as:
Net income Sales
------------ X -----------
Sales Shareholders' funds
3. Use Hindsight when Strategic Planning
Statements on vision, mission, objectives, values, strategies and goals are not just elements of future planning. They also provide benchmarks for a historic review. Most managers will find it exceedingly difficult to develop a future strategy for a business without knowing its current strategies and measuring their success to date.
Assess Current Position
The starting point must be to determine a company's existing (implicit or explicit) vision, mission, objectives and strategies. Then judge these against actual performance along the following lines:
* Is the current vision being realized?
* How has the company's mission and objectives changed over the past say, three years? Why have the changes occurred or why have no changes occurred? Identify primary reasons and categorize them as either internal or external.
* Describe the actual strategies followed over the past few years in respect of products/services, operations, finance, marketing, technology, management etc.
* Critically examine each strategy statement by reference to activities and actions in key functional areas covering such matters as:
o How has the company been managed?
o How has the company been funded?
o How has the company sought to increase sales and market share?
o How have productivity/costs moved?
Take each element and quantify by reference to actual performance. Ask of each "why not"?, "why only"?, or "why so"? and locate the reasons for differences between the actual and desired performance.
Drill Down
A useful technique for exploring performance shortfalls is to review the business's financial return and to drill down through the components of this return to locate and assess the key determinants of performance. For example, return on shareholders' funds is a key measure of profitability which can be expressed as:
Net income
------------
Sales X Sales
-----------
Shareholders' funds
Take each item in this formula, explore its contents and derive performance measures or ratios. For example:
Sales break down into sales values, units, prices, discounts, commissions, bad debts and so on.
Net income is derived by deducting costs (materials, labor, power etc.), expenses, interest and depreciation from sales revenue.
Shareholders' funds are based on the value of fixed assets, current assets, current liabilities, debt etc.
Use of cascading ratios is illustrated in this DuPont-type profitability chart (click thumb opposite) which is automatically generated by more powerful versions of Exl-Plan to show the impact of specific changes in key variables and assumptions on overall profitability.
Subject the resultant ratios to critical examination and attempt to compare them with industry norms. The paper entitled Managing Working Capital explains key working capital ratios.
Note that the Exl-Plan financial planners generate extensive ratios based on projected P&Ls, cashflow forecasts and balance sheets for 1-3-5-7 years ahead. |
| posted by azwan.fatahsz @ 2:19 AM |
|
|
|
| 4. Effect not Equal to Cause when Planning Strategy |
When reviewing a business it is essential to cut through the symptoms of problems and reach the underlying causes. Questions which can assist in revealing the real causes include the following:
* "What stopped the business from?"
* "What caused the cause of?"
* "Why didn't the business achieve a 25% return?"
By way of an example consider why this company may be unable to increase its market share:
Because it cannot penetrate major customers because its product range is too narrow because the company doesn't have the capability to produce additional products because of shortcomings in R & D because of a lack of expertise and resource because R & D is not an immediate priority because of a lack of profits because of a high interest burden because the company is over-reliant on borrowings because the shareholders won't/can't raise additional permanent capital.
The moral in this case is that there are no major customers due to under-capitalization !
Also have a look at the discussion on causes of business failure in Devising Business Strategies. |
| posted by azwan.fatahsz @ 2:16 AM |
|
|
|
| 5. SWOTs - Keys to Business Strategies |
Having built up a picture of the company's past aims and achievements, the all-important SWOT (strengths, weaknesses, opportunities and threats) analysis can commence.
Strengths & Weaknesses
Strengths and weaknesses are essentially internal to the organization and relate to matters concerning resources, programs and organization in key areas. These include:
* Sales - marketing - distribution - promotion - support;
* Management - systems - expertise - resources;
* Operations - efficiency - capacity - processes;
* Products - services - quality - pricing - features - range - competitiveness;
* Finances - resources - performance;
* R&D - effort - direction - resources;
* Costs - productivity - purchasing;
* Systems - organization - structures.
If a startup is being planned, the strengths and weaknesses are related mainly to the promoter(s) - their experience, expertise and management abilities - rather than to the project.
Take a moment to complete or view the results of this survey.
Survey about Strengths & Weaknesses of Businesses
The objective is to build up a picture of the outstanding good and bad points, achievements and failures and other critical features within the company.
Threats & Opportunities
The external threats and opportunities confronting a company, can exist or develop in the following areas:
* The company's own industry where structural changes may be occurring
(Size and segmentation; growth patterns and maturity; established patterns and relationships, emergence/contraction of niches; international dimensions; relative attractiveness of segments)
* The marketplace which may be altering due to economic or social factors (Customers; distribution channels; economic factors, social/demographic issues; political & environmental factors)
* Competition which may be creating new threats or opportunities
(Identities, performances, market shares, likely plans, aggressiveness, strengths & weaknesses)
* New technologies which may be causing fundamental changes in products, processes, etc.
(Substitute products, alternative solutions, shifting channels, cost savings etc.)
Against an uncertain and shifting background, the objective must be to identify and prioritize the key SWOTs in a one-handed manner (Don't say "on the one hand ...........but on the other hand.........").
Develop Business Strategies
Once the SWOT review is complete, the future strategy may be readily apparent or, as is more likely the case, a series of strategies or combinations of tactics will suggest themselves. Use the SWOTs to help identify possible strategies as follows:
* Build on strengths
* Resolve weaknesses
* Exploit opportunities
* Avoid threats
The resulting strategies can then be filtered and moulded to form the basis of a realistic strategic plan - see also Devising Business Strategies for further insights into the development of strategies.
Need More Help with your Strategic Planning ? Have a look at:
* Plan Write Expert Business Planner: Combined business plan tool and expert system to help evaluate and develop your plan.
* Quick Insight - Business Idea Assessor: Expert system to help evaluate and improve a new business idea.
* Business Insight - Strategy Evaluator: Sophisticated expert system for evaluating, developing and comparing business and marketing strategies. |
| posted by azwan.fatahsz @ 2:15 AM |
|
|
|
| 6. Simple & Short Strategic Plans |
Notwithstanding that "battles are often lost for want of nails", a company rarely succeeds or fails for minor or trivial reasons. The causes are usually substantial and are often self-evident, at least to an outsider. For example, the business was completely over-borrowed; management was weak; a major new product opportunity was identified; legislation changed; a major competitor went bust or expanded; the company never reinvested.
It should be possible in the course of a few pages to set down the main elements of a business's vision, mission, values, objectives, goals, strategies, SWOTs etc. The compilation of a short report along these lines is likely to prove much more difficult than a lengthy dissertation which mixes up details and principles, and confuses the broad picture. See a sample strategic plan - use the back button on your browser to return to this page.
Get Strategic Planning Help:
Free Online Strategic Planner for creating a 3-page strategic plan.
See Also: Expert tools for Assessing Business Ideas (US$ 219.95)
and Evaluating Marketing Strategies (US$ 785.00).
Independent advisers or non-executive directors can play a valuable role in this process because they can readily adopt the role of devil's advocate and also bring external knowledge and expertise to bear. The worksheet presented below may also assist.
For further information on business planning issues, refer to other papers in this series which cover business ideas, business strategies, financial planning, cashflow forecasting and business planning.
Free Tools from PlanWare
* Business financial planner for high-level, integrated 2-year projections using Excel - details and download links for Exl-Plan Free.
* Excel-based, comprehensive, rolling 6-month cash flow planner - details and download links for Cashflow Plan Free.
* Business plan template & guidelines (Word format) - details & download link for Free-Plan.
* Online strategic planner for creating a 3-page strategic plan - details and sample plan.
* More free tools here.
Need More Assistance? Have a look at:
Exl-Plan Multi-year Financial Projections (with Excel)
Cashflow Plan Short-term Cashflow Forecasts (with Excel)
Plan Write Comprehensive Business Planner
Plan Write Marketing Planner
Plan Write Expert Business Planner
Quick Insight Business Idea Assessor
Business Insight Business Strategy Evaluator |
| posted by azwan.fatahsz @ 2:14 AM |
|
|
|
| 7. Using the Strategic Planning Worksheet |
When using the Strategic Planning Worksheet below, note the following suggestions:
1. Relate the planning exercise to a specific company or, if diversified, to individual strategic business units.
2. Ideally the worksheet should be compiled by a multi-discipline management group, or separately by 2/3 groups and then discussed in plenary session if a large business unit is involved.
3. If working on your own, complete the worksheet and then return to it a few times over the following few days and critically review what you wrote - why, why, why etc. and ask yourself whether you have seen the "wood for trees".
4. A completed worksheet should be edited down into a 1-2 page document and reviewed by the group(s). The final form of the document need not follow the worksheet's layout provided all the matters are covered.
5. All ideas, issues etc. should be internally consistent and realistic.
6. You need a very good understanding of the market, competitors etc. in order to make a clear assessment of your SWOTs. If you haven't got this insight, suspend work on your strategic plan until you have done this basic research.
7. Allow enough time as you may find it much more difficult to write a short plan than a long one !!!! |
| posted by azwan.fatahsz @ 2:13 AM |
|
|
|
| 8. Strategic Planning Worksheet |
To start using the worksheet below, copy the headings marked in red onto a blank sheet of paper (or page in a word processor) and enter short statements about each item as per the guidelines above.
Note: This worksheet is available as a free Online Strategic Planner. See sample strategic plan - you may wish to print it for reference purposes. (Use the back button on your browser to return to this page.)
Contents of the Strategic Plan
1. Assess the business's EXISTING strengths, weaknesses, threats and opportunities:
(Strengths & Weaknesses are internal to the business and Opportunities & Threats are external. All SWOTs should be 'one-handed' - something is either a Strength or a Weakness but cannot be both. Enter up to six items under each heading and then rank them in order of importance. If you are planning a new business, consider the project's and its promoters' existing SWOTs):
2. Vision of business in 3/4 years time:
(What will the business look like? If a visitor from Mars dropped in what would be seen and evident. Write in future tense. Maximum of 150 words)
3. Mission/purpose statement for business to cover next 3/4 years:
(What will the business really, really be doing? What activities will it perform, where, how etc.? What makes the business special/competitive? Every noun, adjective and verb in the statement is important and must be justified. Maximum of 150 words)
4. Statement of corporate values and beliefs:
(Covers employees, customers, environment etc. etc. Maximum of 150 words)
5. Set out key long-term objectives:
(These are the primary underlying reasons for being involved in the business, and are not specific targets - these come later)
5a Shareholders
5b Management (If different from shareholders)
5c Business (Relative to competitors etc.)
6. Identify key strategies for business and major functional areas:
(Build on strengths, resolve threats, exploit opportunities and avoid threats. Add any new dimensions revealed by Vision and Mission. List and prioritize up to ten or so major strategies. See Devising Business Strategies for further insights.)
7. Assess possible FUTURE strengths, weaknesses, threats and opportunities:
(Do the foregoing strategies improve the initial SWOTs? If they don't, then they should have done so)
Internal Strengths
Internal Weaknesses
External Threats
External Opportunities
8. Review your vision, mission, values and objectives:
(Refine and revise/restate key strategies to deal with the perceived FUTURE SWOTs)
9. Specify major goals achievable over the next 3/4 years:
(Quantify in terms of sales, market shares, finances, operations etc.)
10. Define strategic action programs:
(Indicate who, what, where, when, how etc. Set targets and prioritize)
Note: This worksheet is available as a free Online Strategic Planner.
Next Steps in Developing a Strategic Plan
If you have prepared a strategic plan along the lines suggested above, you have several possible pathways. These include the preparation of a full-blown business plan, compilation of financial projections, undertaking market research, product development, management team-building etc. etc. You may also wish to refer to some other papers in this series which cover business ideas, business strategies, cashflow forecasting and managing working capital.
If preparing a business plan, look at Free-Plan. This is a free Business Plan Template for Word (48 pages) and a complementary Guide (supplied as a 90+ topic Help file and as a 100+ page PDF file for printing. Note that a strategic plan based on the structure in the Strategic Planning Worksheet (above) is ideal for inclusion in edited form in Section 3. Mission, Strategies etc. of this Template.
If you need to produce financial projections as part of a strategic plan or for use on their own, take a look at our extensive range of Excel-based financial planners - Exl-Plan - which can be used to prepare 3/5-year financial projections (P&Ls, cashflows, balance sheets, ratio analyses and graphs). It incorporates a Quik-Plan facility for doing quick and dirty projections. If you seek a very simple solution, look at Exl-Plan Basic (US$ 29) which generates comprehensive "high-level" 5-year projections based on annual assumptions (in contrast to the more detailed monthly and quarterly assumptions used by other versions in the Exl-Plan range). Get the details and free trial downloads.
If you need to go into more detail with your strategic plan, have a look at the following software-based expert systems:
* Plan Write Expert Business Planner: Combined business plan tool and expert system to help evaluate and develop your plan.
* Quick Insight - Business Idea Assessor: Expert system to help evaluate and improve a new business idea.
* Business Insight - Strategy Evaluator: Sophisticated expert system for evaluating, developing and comparing business and marketing strategies. |
| posted by azwan.fatahsz @ 2:12 AM |
|
|
|
| 9. Introducing Invest-Tech & PlanWare |
Invest-Tech develops and sells a range of financial planning packages - Exl-Plan and Cashflow Plan - for businesses of all sizes & types. Trial versions of all products can be downloaded from our PlanWare site and many other sources on the 'Net.
We also offer an extensive range of commercial software for writing business plans, market planning, assessing business ideas and evaluating strategies.
PlanWare also features:
* Papers on cashflow, financial, strategic and business planning topics.
* Advice on getting new business ideas, managing working capital, devising business strategies and much more.
* Free Online Financial Planner to produce 'first-cut' five-year projections.
* Pages devoted to famous business quotations and examples of bad business advice and mistakes. |
| posted by azwan.fatahsz @ 2:09 AM |
|
|
|
| 10. Copyright & Legal Stuff |
| This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs License. This means that this page and any related files are subject to the normal rules about copyright and attribution. If you wish to make an electronic or printed copy for YOUR PERSONAL USE, you are free to do so PROVIDED THAT IT IS UNMODIFIED AND REMAINS COMPLETE IN ALL RESPECTS. All copying for commercial use requires written prior permission secured from info@planware.org. You are free to quote short extracts provided our site's URL is acknowledged as the source. |
| posted by azwan.fatahsz @ 2:08 AM |
|
|
| Thursday, March 22, 2007 |
| 10 Steps to Successful Exporting (No3) |
Part 3: Export Shipping, Financing & Regulations
Here are more of the key steps necessary to export your products or services successfully:
6. Get your product or service to market.
Every market has its own set of rules and regulations covering safety, health, security, packaging and labeling, customs and duties among other things. Additionally, these rules and regulations may vary depending on the product or service you are exporting. It is critical that you understand the rules and regulations that apply to you before you ship your goods or open your foreign business location. Product-based businesses with shipping requirements will benefit from developing a relationship with a freight forwarding company and a customs broker. Whether you are shipping by truck, rail, sea or air, the documentation will likely be extensive and potentially confusing.
The services provided by these businesses will assist you in determining the most efficient and least risky options for shipping your goods across borders.
7. Explore financing options.
While there are overnight export success stories, most companies must be prepared to invest both time and financial resources to see the return on their investment and the subsequent success. Consequently, financial stability and a secure cash flow are important during this period. In some cases, businesses can rely on their domestic sales to sustain their early export efforts. If this is not possible, it is a good idea to know what financing options are available. Exporters must develop a financial plan to understand and address the diverse costs associated with exporting, complete with a two- to three-year cash budget to cover expenses and a capital budget. A capital budget is a cost-benefit assessment of your export objectives and serves as your operating plan for measuring expenditures and revenues.
8. Understand the legal and regulatory issues.
Exporting exposes Canadian businesses to unfamiliar laws and regulations. There are numerous international conventions, treaties and national, regional and municipal rules that can affect your ability to operate successfully in foreign markets. Exporters may also encounter disputes with agents or distributors, clients or creditors. It is important to understand your rights and obligations when resolving disputes, selling goods or services and protecting intellectual property.
9. Put it into practice.
You have committed yourself to exporting. You have the skills and the resources to undertake the challenge. You have researched the market and prepared your export plan, international marketing plan and financial plan. Your market entry strategy is clear and the support system (i.e. freight forwarder, customs broker, financial lenders, legal advisors) is in place. You have gone through the export process step-by-step and feel confident that you have covered all the bases. Now, it is time to put all this skill and knowledge to use. The world is waiting for your product or service!
10. Let Team Canada Inc (TCI) help you along the way.
TCI is committed to helping businesses across the country thrive in global markets by offering comprehensive export information and services. These tools are designed to help both experienced exporters and potential exporters plan and implement their international business ventures from start to success.
This information is drawn from the Team Canada Inc. guide, A Step-by-Step Guide to Exporting. To obtain a copy online, visit exportsource.ca/stepbystep. For additional information on exporting, call the Team Canada Inc Export Information Service at 1-888-811-1119 (toll-free). |
| posted by azwan.fatahsz @ 8:13 PM |
|
|
|
| 10 Steps to Successful Exporting (No2) |
Part 2: Marketing Strategies for Successful International Marketing
Here are more of the key steps necessary to export your products or services successfully:
4. Devise marketing strategies for your target market.
International marketing is not the same as domestic marketing. Those who ignore this fact do so at their own peril. As successful as you may be at reaching your Canadian customers or clients, you must be aware that your international audience will frequently have different tastes, needs and customs. Good marketing strategies help the exporter understand and address these potential differences.
These strategies are captured in the international marketing plan, a flexible document that will likely be reviewed, revised and modified throughout your exporting activities. Marketing is a continuous activity and so is marketing planning because you can never know enough about your customers and how to meet their needs.
The basic marketing formula – the four “P’s” of product, price, promotion and place – is just the beginning when it comes to international marketing. Your plan will need to address many other factors, such as payment (international transactions and currency exchanges), paperwork (increased documentation), practices (different cultural, social and business styles), partnerships (strategic alliances to strengthen your market presence) and protection (increased risks relating to payment, intellectual property or travel) and many more. Understanding all these facets of international business will transform your marketing plan into marketing action.
5. Enter the market.
The research is complete and the export and marketing plans have been devised. You feel ready to enter the market and are seeking the best strategy to reach potential customers. There are as many market entry strategies as there are markets; however, these strategies can be loosely grouped into three categories. Direct exports, as the name implies, involve direct marketing and selling to the client. In a reasonably accessible market such as the United States, direct exporting of products or services may be a viable option. But in less familiar markets, with different legal and regulatory environments, business practices, customs and preferences, direct exporting may not be an option. A local partner, for example, may be better able to manage these complexities and serve your potential clients better.
Indirect exporting is frequently used to enter new markets. Businesses selling products enter into an agreement with an agent, distributor or a trading house for the purpose of selling (or marketing and selling) the products in the target market. Due diligence is critical when selecting an agent or distributor for indirect exporting. Western Economic Diversification Canada has published a valuable checklist on selecting a foreign agent or distributor in its publication Ready for Export: Building a Foundation for a Successful Export Program. An adaptation of this checklist is found in Team Canada Inc’s A Step-by-Step Guide to Exporting (see below for more information).
The third market entry strategy involves strategic partnerships with other companies or individuals with complementary skills and capabilities. A partner can often provide the insight, contacts and expertise that fills the gap in your export readiness. A strategic alliance with a company selling a complementary product or service can provide more effective market access, resulting in more foreign sales in less time. As with indirect exporting relationships, contractual agreements with partners must be stated in clear terms and, whenever possible, refer to Canadian laws for the protection of the Canadian company. |
| posted by azwan.fatahsz @ 8:11 PM |
|
|
|
| 10 Steps to Successful Exporting (No1) |
Part 1: Export Success Starts With Planning
Anyone with a product or service can export, or at least attempt to export. But success is far from guaranteed. At the best of times exporting can be a complex and challenging process. Yet, when it is approached with careful deliberation, exporting can be a rewarding growth strategy for any business. Here are ten key steps to take your export efforts from start to success:
1. Make a commitment to exporting.
Whether you own a sole proprietorship offering consulting services or manage a 1500-person manufacturing facility, exporting offers you opportunities for growth, increased sales and diversified markets. But a marketable product or service is only the beginning.
Exporting takes time and effort. It also takes resources and a strong commitment to compete beyond your current borders.
If you are focused and have assessed your readiness to enter the global marketplace, you are ready for the next step. The Export Diagnostic from Team Canada Inc. (available online) is designed to help exporters assess their strengths, weaknesses, objectives and possible strategies as they explore opportunities in foreign markets. It also helps exporters identify their priorities as they prepare to export.
2. Plan, plan, plan.
The secret to export success is preparation and a carefully researched export plan. This is your source of direction as you embark on your journey into foreign markets. An export plan helps you to act – rather than react – to the challenges and risks encountered in international business. And in addition to helping you implement your export strategy, it can help you obtain financial assistance, investors or other strategic partners required to make your export venture a success.
An export plan comprises many elements – a description of your company, its market and industry, and your business objectives; information on your products or services; an analysis of the target market and industry, including trends and forecasts; an examination of the competition and their strengths and weaknesses in contrast to your own; international marketing strategies, including customer profiling and the development of sales and distribution channels; employment and training issues; financial requirements and forecasts; and much more.
3. Conduct research to find the right market.
Thorough market research helps you make sound export marketing decisions by giving you a clear picture of the economic, political and cultural factors that affect your ability to sell your product or service. Ultimately, market research saves you time, money and effort by reducing your exposure to unknowns.
There are two main types of market research. Secondary market research consists of information collection from published sources (books, newspapers, market reports, studies, and periodicals) and the Internet. For example, ExportSource is one of the best sources of secondary information for exporters. It serves as a one-stop shop, linking to all major Canadian market information web sites. Researchers will find trade statistics, market and industry information, even potential partners and trade leads. Secondary research helps you fine-tune your information needs.
Primary market research helps you fill in the critical gaps through direct contact with key experts, customers or other sources of information. Primary research frequently involves personal contact techniques such as interviews and consultations and is best attempted after you have familiarized yourself with the potential market through your secondary research efforts. Contacting a Canadian Trade Commissioner at an embassy or consulate is an example of effective primary research. |
| posted by azwan.fatahsz @ 8:09 PM |
|
|
|
| Creating new potential customers |
Question
I am not the owner of a small business but have been just appointed to the Sales & Marketing region of N. Ireland with a view to run this Comapny who have offices in the UK and the Republic of Ireland. Turnover of approx 5 million pounds. The major product is a one way air tube system designed to assist a cashier in removing all surplus cash by transporting bank notes, etc. directly into a safe in a secure part of the premises by air vacuum. The cashier loads a canister with surplus cash and inserts it into the send station. The system controls will automatically start and deliver the canister directly into the safe in only a few seconds. The system could be used by most companies who want to secure cash, supermarkets, service stations, convenience stores, public houses, hotels, post offices, etc. Reducing the risk of robbery and the associated risks to staff and customers.
My enquiry: Obviously I want to impress the Board of Directors with our first meeting in early January, with some new and different ideas on marketing the product and I would also like to impress upon the Board how to market this product differently and with more success in the future. As the Company has never had representation in N. Ireland before, although there are a few installations, I would really like to get off to an impressive start with some new marketing ideas.
Many thanks in anticipation and I trust you will send me a positive reply.
Kind Regards,
Nobbie
Answer
Nobbie,
Congratulations on your appointment, best of luck.
The marketing strategies that I educate my clients on are different than the norm. Most of what I learned is from Dankennedy.com I urge you to check out his website, he is responsible for billions of dollars that his programs have earned for small, medium and large companies.
The jist of his marketing is this (which I have personally used and my clients).
Number 1. Come up with your companies USP (Unique Selling Proposition) that is a simple way to answer this question: Why should I or anyone else in the market for your product buy from you instead of your competition? Your Answer is your USP. An example is Dominos Pizza, they built their billion dollar empire with their USP We'll deliver your pizza in 1/2 hour or it's free! Notice they say nothing about price, quality or anything else except they will get it to you in 1/2 hour.
The idea here is to pick one great thing your company is the best at and use that for all of your marketing. Presentations, direct mail, TV, radio etc.
Also the use of special reports is essential, the number one thing people look for on the Internet is information, when you provide good solid information people will view you as the expert and buy from you. Price will never be an issue because everyone wants to have access to the expert (you). A special report works like this you would take an ad out in an industry magazine of the market you are trying to reach and offer a special report with eye grabbing headlines something like this: "10 Things you must know before you buy a (name of your system), that the companies don't want you to know". If you were in the market for one of these you would order the report instead of respond to an image ad.
Once you have the information of the interested prospect you send them the report along with an offer for a free estimate and presentation of how your company (or system) is far superior to the competition. I know that's alot of info and I hope I explained it well enough for you to understand. If you need a follow up please contact me at dave@successcafe.com, in the mean time check out dankennedy.com. It works.
Cheers,
Dave Wrobel
dave@successcafe.com |
| posted by azwan.fatahsz @ 8:07 PM |
|
|
|
| Marketing vs. Advertising: What's the Difference? |
You will often find that many people confuse marketing with advertising or vice versa. While both components are important they are very different. Knowing the difference and doing your market research can put your company on the path to substantial growth.
Let's start off by reviewing the formal definitions of each and then I'll go into the explanation of how marketing and advertising differ from one another:
Advertising: The paid, public, non-personal announcement of a persuasive message by an identified sponsor; the non-personal presentation or promotion by a firm of its products to its existing and potential customers.
Marketing: The systematic planning, implementation and control of a mix of business activities intended to bring together buyers and sellers for the mutually advantageous exchange or transfer of products.
After reading both of the definitions it is easy to understand how the difference can be confusing to the point that people think of them as one-in-the same, so lets break it down a bit.
Advertising is a single component of the marketing process.
It's the part that involves getting the word out concerning your business, product, or the services you are offering. It involves the process of developing strategies such as ad placement, frequency, etc. Advertising includes the placement of an ad in such mediums as newspapers, direct mail, billboards, television, radio, and of course the Internet. Advertising is the largest expense of most marketing plans, with public relations following in a close second and market research not falling far behind.
The best way to distinguish between advertising and marketing is to think of marketing as a pie, inside that pie you have slices ofadvertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy, and community involvement. Advertising only equals one piece of the pie in the strategy. All of these elements must not only work independently but they also must work together towards the bigger goal. Marketing is a process that takes time and can involve hours of research for a marketing plan to be effective. Think of marketing as everything that an organizationdoes to facilitate an exchange between company and consumer. |
| posted by azwan.fatahsz @ 8:07 PM |
|
|
| Thursday, March 15, 2007 |
| Marketing Cartoon |
 |
| posted by azwan.fatahsz @ 8:09 PM |
|
|
| Tuesday, March 13, 2007 |
| What Makes an Entrepreneur? - Part 2 |
Upside/Downside: Reward and Risk
Conventional wisdom is that starting a company is an extremely risky proposition. Data from many sources show that a high percentage of new businesses in the United States fail within the first few years. These statistics put fear in the heart of anyone thinking about launching an enterprise. I urge you not to be too concerned; it's not as bad as many people seem to think. In fact, the odds can really be quite good.
First of all, the above quoted data includes all startups: corner grocery stores, gasoline stations, trendy restaurants, and similar businesses that have a notoriously high attrition rate. Conclusion: Avoid these businesses entirely and your chances of surviving will increase dramatically.
Secondly, many people starting businesses are doomed almost before they begin because of poor initial strategy. The most frequent error, in my view, is to select an offering (either product or service) that is distinguished from competitors only by price. Instead, if you find ways to concentrate, differentiate, and innovate in every aspect of the business rather than selling price alone, the odds of success will be better.
Risks and rewards come in many forms. The most obvious are financial, but for many entrepreneurs the financial issues are of less importance than others. The two I want to discuss first are professional and emotional. What different people consider acceptable risk will vary substantially. More things than money must be considered.
The professional rewards of starting a company and succeeding are obviously very great and do not need further discussion.
The most important professional risk of starting a business and failing is the possibility of suddenly becoming unemployed. The question to ask is how two or three years of managing an unsuccessful startup company would compare to the same two or three years with your former employer when it comes to reentering the job market. My belief is that the broad experience and extensive contacts that come with being the head of a company, even though it fails, would make it easier to find a job. If this is true, or even almost true, it means that the professional risks of starting a company are low.
Emotional risks and rewards are another matter-the rewards can be very great but the risks may also be great both for you and your family. Let us look first at the reward side. I started a company from scratch. We had two employees in addition to the four founders. Eight years later, at the time of our merger with Harris Corp., RF employed about 800 people; today it is closer to 1,200. Most of these employees have a spouse and children. There is a multiplier on top of these when you consider the company's supplier and merchants in the community where our employees spend their income. All-in-all I estimate that the company I started in a basement supports 10,000 to 12,000 people in the Rochester area. Is this an emotional reward? You better believe it is!
Starting RF Communications was financially rewarding to the founders. My living standard and lifestyle moved upward considerably but not nearly as far as my income, so suddenly I had resources available for other purposes. As a result of the success of RF Communications I was able to donate an athletic field to each of the two private high schools my children attended plus a dozen or so scholarships that will help other young people get a similar education.
On the downside the emotional risks associated with starting a business can be great whether the business succeeds or fails. Consider how your complete dedication to and immersion in the new venture will affect your marriage and family. When you spend every waking hour dealing with business problems it may not leave much emotional energy to deal with family problems. Are your spouse and children prepared and able to make the emotional investment needed for you to start a business? If you venture goes down, will you be able to prevent your marriage and family from going down as well?
These are scary questions that deserve a lot of attention. While the emotional rewards of entrepreneurship can be very great, so can the risks. Each person must assess whether and how they can handle these.
In addition to these two areas, where the risks and rewards must be carefully balanced, there is a long list of others where only reward is possible and the risk is zero. These include things such as the wish to be your own boss, the desire to be involved in all aspects of the business, getting away from the politics, red tape, and bureaucracy of the large company, and many more. If these things are important to you, and they usually are, there is only an upside.
The above discussion covers many issues but it does not cover many other important ones that may determine whether the new business succeeds or fails, such as: writing a business plan, picking products and markets, controlling cash flow, getting orders, and many others. These are addressed in other parts of this Web page or in books, such as mine, which spend many chapters covering these other issues. |
| posted by azwan.fatahsz @ 3:57 AM |
|
|
|
| What Makes an Entrepreneur? - Part 1 |
What makes an entrepreneur is a complex question. It includes factors from the environment in which an individual was raised, his or her family situation, and his or her personality traits. This question has been the subject of a great deal of both study and research. The following discussion is a summary of my own observations plus some of the conclusions of others.
About 20 or 25 years ago if you asked almost any expert to describe a successful entrepreneur, you would probably have been given a list similar to this:
Male
Only child
About 35 to 45 years old
Bachelor's or master's degree in engineering
Protestant
Born in the Midwest
Father owns a hardware store
As a youth, delivered newspapers and sold lemonade
Should you be concerned if you do not fit this stereotype? Absolutely not. Very few of these are factors that determine whether an entrepreneur succeeds or fails.
However, much recent research and many of my own observations seem to indicate that there are qualities commonly found in successful entrepreneurs, and there are things that you can do if you are concerned about any you may lack. Many writers on this subject seem to be primarily concerned with the qualities found in successful entrepreneurs. I look at the questions a little differently and believe it is equally as important to consider those traits that successful entrepreneurs usually do not have and those traits that simply do not matter.
Personal qualities common in successful entrepreneurs
Motivation to achieve -- In almost every case, successful entrepreneurs are individuals who are highly motivated to achieve. They tend to be doers, people who make things happen. They are often very competitive. Many researchers have concluded that the most consistent trait found in successful entrepreneurs is the sheer will to win, the need to achieve in everything they do. They don't want to come in third, they don't want to come in second, they want to come in first.
The habit of hard work -- Starting a company is hard work. Let no one kid you about that. Some time ago a student reported that one of his other professors said that unless you are prepared to work hard you should not start a company. He asked my opinion, I said the statement was nonsense. I think the correct way to say it is that unless you already work hard you should not start a company. There is a big difference. Starting a company is unlikely to turn a lazy oaf into a raging bull. In his excellent book, Winners, published by Holt, Rinehart and Wilson, Carter Henderson quotes Nolan Bushnell, founder of Atari game company and Pizza Time Theater, as saying it all comes down to one critical ingredient, "Getting off your ass and doing something." In summary, entrepreneurs are almost always very hard workers.
Nonconformity -- Entrepreneurs tend to be independent souls, unhappy when forced to conform or toe the line. They are people who find it difficult to work for others, who want to set their own goals. It is hard to imagine anyone who is more nonconformist than Steve Jobs and Steve Wozniak, the founders of Apple Computer, or Bill Gates, founder of Microsoft.
Strong leadership -- Starting a new company can be a harrowing experience full of uncertainty and risk. Successfully bringing a small organization through these trying periods requires a lot of leadership skills.
Street smarts -- I do not know quite how to put this. Shrewd or sharp might be a better word. Paul Hawken describes it as "trade skill" in his excellent book Growing a Business, published by Simon and Schuster. We all know owners of some very successful businesses who were lucky to finish high school and never even considered college. Yes, they always seem to make the right moves. Call it common sense, instinct, whatever you want. Successful entrepreneurs seem to have intuitive good judgement when making complex business decisions.
Personal qualities not found in successful entrepreneurs
Compulsive gambling -- Almost without exception people who start companies are not gamblers. They are attracted to situations where success is determined by personal skill rather than chance. They strongly prefer that their destiny be determined by hard work and conscious decisions rather than by the roll of the dice.
High risk-taking - Contrary to popular opinion, entrepreneurs do not take excessive risks. Through careful product and market selection, creative financing, building a good team, and thorough planning, the real risk of starting a new business can be quite low. In the world of small business, optimism is truly cheap and high risk- takers die an early death.
Irrelevant factors
Age -- This simply does not matter any more. During the 1950s, 60s and 70s the large majority of people starting companies were in their 30s and 40s. Not true during the 1980s or today, Steve Jobs and Steve Wozniak were both in their early 20s when they started Apple Computer. At the other extreme Ray Kroc was 59 when he started the McDonald's restaurant chain.
Sex -- Here again, it just does not matter. Until recently, entrepreneurship was considered by many to be the last bastion of male dominance in the business world. This is no longer true. More businesses are now being started by women than are being started by men. I know many women who have started successful companies in recent years and I do not mean only gift shops or snack bars. I mean building contracting, bicycle manufacturing, printing, software, real estate agencies, newspaper publishing, market research, law firms, accounting firms, and on and on.
Marital status -- This is almost, but not quite, irrelevant. For a woman, being pregnant or having several preschool children may not be the best time to take the step into entrepreneurship. For a man who is the sole support of the family, having two or three children in college may not be the best time. But this in no way means they should not start a business. It means that perhaps they should have it done several years earlier or wait a few years longer. The question is when to start a business--not whether.
Educational level -- Knowledge and skill are very important. How you acquire them is less important. Too many college degrees may be a handicap rather than an asset. One researcher suggested recently that one of the biggest handicaps you can have when you start a business is a PhD. For example, Bill Gates, founder of Microsoft, the country's largest software company, quit Harvard after his sophomore year.
Other -- After writing this section, something gnawed at me. Somehow I felt that I had overlooked an important personal quality. It occurred to me that intelligence is not on my list. People with below-average intelligence should probably not start businesses, but it is not necessary to be a genius. Somehow or other, being smart-whatever that means-ought to be better than being dumb, but I do know quite a few very average people who have started some very successful companies. I watched a television program recently on which the founder of a major company with sales in hundreds of millions of dollars was interviewed. He said he had graduated last in his high school class of 230 students. Then he added that he did not think he graduated at all, but they just wanted to be rid of him. As I said earlier, if you do not fit the mold, don't panic. Every entrepreneur is an individual with different skills, different strengths and weaknesses, and different personality traits. Your smartest strategy as you start or develop your business is to be aware of your own special set of skills, strengths and weaknesses, and build on these. |
| posted by azwan.fatahsz @ 3:57 AM |
|
|
|
| Why People Start Companies |
What drives people to become entrepreneurs-to start companies? It's a question with many answers. Often these individuals are not entirely sure themselves, and the answers to the question are apt to change over time as their perceptions change.
I divide the reasons in to two broad categories: the reactive reasons and the active reasons. Reactive reasons are those things that are objectionable about working for others. They are the negatives that push you out. Active reasons are those things that are attractive about having your own business. They are the positives that pull you out.
The following list was compiled from many sources over a period of years. I do not necessarily agree with all of them but they are the reasons most often heard.
Reactive reasons
1. Inequity between contribution and reward - People who are by nature high achievers tend not to get along well in large organizations. They want rewards based upon accomplishment, not on seniority, conforming to the culture or political clout. The person who just made a major contribution does not want to be told, "Be patient-your turn will come."
2. Fame and recognition - It is the opinion of some that this is an important reason why people start companies. I do not agree. Most entrepreneurs I know are fairly conservative individuals who do not seek the limelight. Ken Olsen, founder of Digital Equipment Corp. (DEC) and a multi-millionaire, for many years lived in the same home he bought shortly after starting DEC. A Fortune article suggested that "Olsen's unostentatious style has kept him from becoming a business celebrity." The struggle to bring a new company into existence is a great lesson in humility.
3. Participation in all aspects of a business -- Nothing is more exciting than to be broadly involved in the operation of a business. The entrepreneur helps conceive the product or service, helps design it, goes out and gets orders, makes sure the factory runs well, helps the customer put it into operation, and finally sees the effect that all of this has on the profits of the firm. What a thrill!
4. Personal financial gain - For some people this is very important, for others less so. Gains can come more quickly and can be much greater than when working for someone else; this is not a negligible consideration. For most people becoming an entrepreneur is the only way available to make a lot of money.
5. Joy of winning -- Entrepreneurs are the ultimate achievers. They like to win. Starting a company is a good way to satisfy the achievement instinct. Starting a new company, working for a new company, being involved in any way with a new company is just plain fun. It is satisfying and exciting. We spend more hours at our job than at anything else we do. Why shouldn't we enjoy it?
The reasons above are not the only reasons to start a business. There are many reasons and they are quite powerful reasons. Starting a new company is a great challenge. To those with entrepreneurial instincts, it is very appealing.
Excerpted with permission from Start Up: An Entrepreneur?s Guide to Launching and Managing a New Business, © 1999 by William J. Stolze. |
| posted by azwan.fatahsz @ 3:54 AM |
|
|
| Tuesday, March 6, 2007 |
| "Internet Marketing" Definition |
Internet Marketing is an all-inclusive term for marketing products and/or services online – and like many all-inclusive terms, Internet marketing means different things to different people.
Essentially, though, Internet marketing refers to the strategies that are used to market a product or service online, marketing strategies that include search engine optimization and search engine submission, copywriting that encourages site visitors to take action, web site design strategies, online promotions, reciprocal linking, and email marketing – and that’s just hitting the highlights.
Online marketers are constantly devising new Internet marketing strategies in the hopes of driving more traffic to their Web sites and making more sales; witness the increasing use of blogs as marketing tools for business, for instance.
If you’re new to Internet marketing, I recommend focusing on web design and search engine optimization as a starting point; for most sites, the most traffic still comes from search engines and directories.
Also Known As: Web marketing, Web site marketing, online marketing. |
| posted by azwan.fatahsz @ 10:15 PM |
|
|
|
| Top 10 Internet Marketing Strategies |
Internet Marketing can attract more people to your website, increase customers for your business, and enhance branding of your company and products. If you are just beginning your online marketing strategy the top 10 list below will get you started on a plan that has worked for many.
1.Start with a web promotion plan and an effective web design and development strategy.
2.Get ranked at the top in major search engines, and practice good Search Optimization Techniques.
3.Learn to use Email Marketing Effectively.
4.Dominate your marketing niche with affiliate, reseller, and associate programs.
5.Request an analysis from an Internet marketing coach or Internet marketing consultant.
6.Build a responsive opt-in email list.
7.Publish articles or get listed in news stories.
8.Write and publish online press releases.
9.Facilitate and run contests and giveaways via your web site.
10.Use email autoresponders and handle your e-mail efficiently and effectively.
By following the above tips you'll be on your way to creating a concrete Internet Marketing Strategy that could boost your business substantially. |
| posted by azwan.fatahsz @ 10:11 PM |
|
|
| Thursday, March 1, 2007 |
| Business Cartoon |
 |
| posted by azwan.fatahsz @ 11:41 PM |
|
|
|
|
