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The OnLine Exchange...
"MarketingTrendz" E-Zine...
(c)Online Exchange Edition....September 25, 2000
http://www.marketingtrendz.com
ISSN: 1528-3992
==============================
WELCOME to our latest edition of The OnLine Exchange Ezine.
We are dedicated to keeping you informed of all the quality
resources
and information that is available on the Net. This Ezine will take
your business to levels of success your never imagined.
(Visit Our Archives: http://www.marketingtrendz.com/archives.htm)
ONLY subscribers who have personally and voluntarily subscribed
to this Ezine will Receive it. We are 100% Opt-In.
We will NEVER provide our subscriber list to ANYONE.
We respect the privacy of our readers.
**Please See The Bottom For Detailed Advertising Information**
==============================
IN THIS ISSUE:
~ Our Top Stars -- "Sponsors in the Spotlight"
~ **Feature Article** Business Plans Revealed:
How to Write Your Plan and Why
~ "TOP Pick" Classified Ads
~ Business Know-How * Customers NOT Clicks!
~ ADVERTISING Details....GET READY FOR THE HOLIDAYS!!!!
~ The "Encouragement" Exchange
~ A Word From The Editor * "A Thought to Remember"
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**FEATURE ARTICLE**
************************************
Business Plans Revealed:
How to Write Your Plan
and Why
By J. R. Beach
************************************
A business plan is your vision of where you want your
business to go and how you're going to get there. It's
a road map and, like a map, it helps to document the
route on paper, rather than simply commit it to
memory. A coherent, written plan is as important to
your success as a set of blueprints is to a home
developer. Without it, building becomes a chore.
As indispensable as it is, unless you're using it to
secure capital or financing, it needn't be overly
complex and exhausting. So let's make it easy. We'll
cover some basic guidelines, enough to help you create
one you can use.
Here are six sections you should write into your
business plan.
COMPANY PROFILE
This is the first section you'll write because it
drives the remainder of your plan. What is your
company's mission? What are you trying to do? This
section describes why you're in business. If this
section reads "I'm in business to make money", you're
in trouble. Any company can say that. Instead, the
profile section should describe how you're going to
meet the needs of businesses or consumers in such a way
that you can make money. You make money by
1.meeting the needs of customers
2. at a price they're willing to pay
3. at a cost at which you can make a profit
MARKET ANALYSIS
A critical component, this section should demonstrate
your knowledge of the market in general. It involves
thinking about what you can do better than others in
the same business, and honestly acknowledging what can
they do better than you. Look at your competitors,
compare them with your company. What you're looking for
is what Xerox called a USP, a "Unique Selling
Proposition" and what I call a JND, a "Just Noticeable
Difference" that makes you unique or different.
How is your industry doing? Is it growing? Shrinking?
Are there barriers to entry that will keep others from
offering the same product (service)? Are the big boys
moving into your territory?
Also consider: Is your competition local, regional,
national or global?
Consider external factors over which you have little or
no control, such as the economy or changing laws or
regulations.
MARKETING PLAN
This section outlines your sales strategies. You've got
something to offer. Here you describe how you're going
to let people know about it. Advertising? Press
releases? Direct mail? Word of mouth? Flyers? A
blimp?
Take whatever is unique about your business (your JND)
and make it the hero. Use it to develop a positioning
statement, such as "I will be the cheapest source of
this product", or "I will add more value to the
customer relationship than my competitors", or "I'll
deliver it faster than my competitors".
Consider how you're going to obtain new customers and
how you're going to keep the ones you get. What are
your goals for new business development? How many
customers do you want? How many can you handle?
This section also encompasses new product (or service)
development. What will you introduce during the coming
year? When and for how much?
FINANCIAL PLAN
This section addresses your short-term and long-term
financial goals. It might be the least fun but the most
important section of your business plan. You don't have
to be an Excel genius to do it. Here you determine your
company's start-up cost (if new) or overhead costs (if
it is an existing enterprise). You look at pricing and
potential for profitability.
Your budget also is contained within this section. What
are your fixed and variable expenses? List the various
expenses and estimate how much you're going to need
each month. How much can you afford for advertising?
You also outline equipment purchases, like a new PC or
printer, a Zip drive or a new telephone.
EXECUTIVE SUMMARY
The last part you'll write, the first section to
appear, it sums up the overall intent of the plan.
Write it as if you are going to show it to others to
explain your vision.
There, we kept it simple. If you need a more complex,
detailed plan, here are some resources:
Here you'll find a business plan template
http://www.moneyhunter.com
This site has sample plans and some advice
http://www.morebusiness.com
Here are two software packages to help you create a
credible plan.
BizPlan Builder Interactive ($90, www.jian.com)
offers
a template to make a fill-in-the-blank plan.
Business Plan Pro 3.0 ($90, www.paloalto.com)
uses a
wizard like the tax or financial software you've seen.
As you write your plan, think beyond what you're doing
today to what you expect to do (or may be forced to do)
tomorrow. Railroads failed because they thought they
were in the railroad business instead of the
transportation business. And remember the six Ps:
Proper prior planning prevents poor performance.
=======================================================
Mr. Beach is a marketing veteran and webmaster of
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//////////////////////////////////////////////////////////////////
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///////////////////////////////////////////////////
$$
BUSINESS-KNOW-HOW $$
******************************
"Customers Not Clicks!"
By Patrick Lysons
******************************
I received an email recently from a fellow who was
extremely excited about the hits he was getting at his
web site. His claim was that he got over 70,000 hits
each month. "That's nearly 1,000,000 hits per year"
he proudly said, after being online only three months!
Here's what I thought:
"This guy's got to be doing something right".
Wrong!
Sure, he was getting the hits. He had nearly every
traffic-producing tool ever imagined. Here was the
sites flaw. It didn't motivate. It contained nothing
that would ever motivate a person to make a single
purchase.
I sent him an email and asked how business was going.
His reply was surprisingly candid. "I'm getting lots
of traffic, but not making much money!"
The problem was in his approach to marketing. His aim
- like that of so many other online entrepreneurs - was
to attract clicks, not customers. The problem is that
clicks don't make purchases - customers do!
How do you attract customers? Here are three
indispensable steps that you MUST follow....
A VALUABLE PRODUCT
First you need to represent a product of true worth and
value. If you can create you own product, that's best.
If that's not a possibility your next best bet is to
represent another person high value product!
How do you determine the value of a product? Here is
the first and greatest rule of thumb.
Do you use the product? If it is the latest and
greatest herbal supplement, do you actually use it? If
it is a book, have you read it? If it is a software
program, do you use it?
Think about it! How can you really endorse the value
of a product if you don't believe in it enough to own
it and endorse it?
TARGETED TRAFFIC
The next step is to think in terms of quality not
volume. Pay close attention! The number of hits on
your web site does not matter. What matters is the
quality of those hits! You need to attract people who
are interested in what you are selling. That's the
central difference between a click and a customer.
We are care givers to both a dog and a cat. I love the
dog. My wife loves the cat. Now if I have the best
tasting new doggie bone ever developed, I wouldn't
market it to cat lovers. I need to attract dog lovers.
If you were selling a dog bone, wouldn't it be better
to have 5000 dog lovers visit your site than 50,000 cat
lovers?
There are dozens of techniques available for targeting
traffic, especially via search engines and directories.
Learning how to properly craft your title page and meta
tags will certainly help. It will also be beneficial to
purchase targeted traffic through some of the better
"pay-per-click" services such as Goto.com.
A KILLER SALES LETTER
There is one more piece of the puzzle that's missing.
The Internet is filled with thousands of sites owned by
webmasters who represent great products. Many of these
webmasters have learned the fine art of targeting
traffic. Nevertheless they are still not making many
sales.
The problem is that their site just doesn't sell. As
such, it is just wasted cyberspace. To succeed online
you must learn how to write "CASH PRODUCING" text! You
need to learn the art of writing a killer sales letter,
geared toward the customers needs. Without this skill
the best you can do is attract clicks. You'll never
convert them into customers.
Follow the above steps, and you're already on your way!
============================================
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============================================
////////////////////////////////////////////////////////
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***IMPORTANT***
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//////////////////////////////////////////
**THE ENCOURAGEMENT EXCHANGE**
()()()()()()()()()()()()()()()()()()()()()()
Advice
We
all admire the wisdom of
people who come
to us for advice.
Jack Herbert
()()()()()()()()()()()()()()()()()()()()()()()
////////////////////////////////////////////////////////
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///////////////////////////////////////////////////
A Word From The Editor:
We hope you have enjoyed this issue of the
Online Exchange E-zine.
We would like to welcome all our New Subscribers.
I really filled this issue up with plenty of resources
and tools that I know you will find very helpful. Between the
Exchange Ezine and our Marketplace Ezine, I am sure
you are gaining a lot of knowledge. That is my main objective
to the Ezine in the first place.
Instead of my usual ramblings this week, I would
like to share with you this "Thought". It makes you
sit back and realize what is really IMPORTANT
the little things in life really are:
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
THOUGHT:
Most of us miss out on life's big
prizes. The Pulitzer. The Nobel.
Oscars. Tonys. Emmys. But we're
all eligible for life's small pleasures.
A pat on the back.
A kiss behind the ear.
A four-pound bass.
A full moon.
An empty parking space.
A crackling fire.
A great meal.
A glorious sunset.
Hot soup.
Cold soda.
Walking hand in hand with the
one you love.
Watching the stars above.
Smelling the flowers.
Looking at the mountains in
the distance.
Don't fret about copping life's
grand awards. Enjoy its tiny
delights. There are plenty for
all of us.
--Anonymous
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Now if you have the slightest smile, or feeling
of satisfaction from that small thought, then
I know I did my job for the day!
If there is anything you would like to see more of in the
e-zine, or any comments, questions, or
concerns you may have, please feel free to email me
anytime at:
mtrendz@cs.com
Best Regards,
Debbie Solomon
mtrendz@cs.com
================================
Until Next Time!
Debbie Solomon and Sara Hardy
Owners and Creators of
MarketingTrendz &
The Online Exchange E-zine
http://www.marketingtrendz.com
admin@marketingtrendz.com
===================================
THIS DOCUMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY.
The information contained in this document represents the current
view of MarketingTrendz on the issues discussed as of the date of
publication.
Because MarketingTrendz must respond to change in market conditions,
it should not be interpreted to be a commitment on the part of
MarketingTrendz and MarketingTrendz cannot guarantee the accuracy of
any information presented after the date of publication.
INFORMATION PROVIDED IN THIS DOCUMENT IS PROVIDED
"AS IS" WITHOUT WARRANTY OF ANY KIND,
EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED
TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE AND FREEDOM FROM INFRINGEMENT.
The user assumes the entire risk as to the accuracy and the us of this
document.
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