Any change management consultant you consider seriously should have three things:

- Executive experience, preferably in your industry;
- Experience bringing multiple companies successfully through a business realignment process, preferably the same one you’re planning for your company;
- Experience with managing change in companies similar to yours in both structure and industry.

In other words, the perfect change management consultant for your business would be one who’s done exactly what you’re doing with two or three of your competitors.

But that’s not all you should look for in your change management consultant. He or she should also mesh well with your current management team. A poor choice in consultant would be someone that your key employees (note the multiple!) dislike. Your company needs to work as a team to successfully complete change, and dissention with your change management consultant will undermine everything you’re trying to do.

If one or two key employees dislike your change management consultant prospect while everyone else likes him or her fine, you need to ask yourself what’s setting this employee off. Is it really something about the change management consultant? Or is there a possibility that your employee is worried about losing his or her job during the process of your business’s transformation? You need to sit down with that employee and find out before ruling out that change management consultant; he’s not there to be everyone’s friend, after all.

The Use and Feeding of Your Change Management Consultant

Your change management consultant will probably be able to give you a very good idea of how he or she can best be used by your company; this is a question you need to ask them during your interview process. Change management consultants can be used for every stage of your company’s restructuring, from helping you come up with a plan with timelines to organizing your committees to training your staff on change management to helping everyone adjust to the changes being made.

You need to ensure your change management consultant is kept in the loop. Change is hard, and some of your employees, maybe even those you would least suspect, are going to resist. Have an open-door policy for your change management consultant – and a closed-door policy for any private communication between the two of you. Private meetings for updates and questions about difficult situations are absolutely essential. Your change management consultant should feel comfortable asking to go to most of your company’s meetings, and should be encouraged to get a feel for what everyone does. Part of what your change management consultant does is efficiency analysis; but in order to find redundancies and other structural problems, they need to have open access to everything.

With open communication between you and your carefully-selected change management consultant, your company’s transition should go smoothly and calmly.

ABOUT THE AUTHOR

Salespeople know how to prospect — although they hate to. Salespeople can certainly present — and they love to. They know they should ask questions — although most don’t and the ones that do ask self-serving ones. Salespeople can close — even though they usually let the customers do it for them. But there is one thing salespeople do not do — selling at the C-Level or to the profit center leaders.

Most salespeople don’t ON a steady basis get in front of the C-Level or top decision-makers and those that do are very weak at engaging these leaders in meaningful discussions about the purpose of their purchases — although they’d argue they do.

Many salespeople will say and if asked, (1) It’s not necessary because the C-levels and top people don’t get involved with their type of sale: or (2) They do get to the top and but it doesn’t make a difference: or (3) These C-levels and top people are just a rubber stamps.

Believe what you will and the leaders decide what will be purchased and from whom. When (1) major sales are made; (2) a vendor is preferred or gets a major chunk of the business; or (3) a contractor wins a tough competitive deal — the one that had an in, or got to the leaders, or had connections and was the one that usually won.

Here are 4 typical excuses used when deals are Lost — price; someone knew someone; we didn’t have all the right stuff; they didn’t tell us that was the deciding criteria. If the salespeople had engaged the top people and they would have been able to handle all these excuses.

Price — could have been discussed in many ways. Senior-level people choose price only if everything else appears the same.

Someone knew someone — yeah — that’s how it works. But in all fairness, that salesperson had to dig out with that someone what he or she wanted and then show that s/he could deliver it better than alternatives.

Didn’t have all the right stuff — I’ll bet you did and but you didn’t know how to present it because either you didn’t dig deep enough with the leader or the subordinate didn’t want you to win.

Didn’t know the deciding factors — top people will tell you what it will take to win their vote – if asked. As for subordinates, most of the times they don’t know, because they focus ON what they want and what they think the boss wants.

I could go ON, but you know that without getting to the top and picking the brains of these ultimate decision makers and you’re at a disadvantage to the ones that do.

So what’s a manager to do?
Train the salespeople. However and training ON the hows and whats is not the issue. Getting the salespeople to do the hows and whats is. Training ON the implementation and accountability is what both salespeople and sales managers need.

Advantages of C-Level Selling Sales Training.

Make Sales and More Sales and Cross Sells,
Make Sales into Other Parts of the Company
Eliminate Bidding
Avoid Pricing Issues
Overcome the No Budget Issue
Competitive Advantage
More Profitable Sales
Learn Quickly if There Really Is a Deal
Faster Sales Cycles
Get Critical Information
Get Referrals and Introductions to Other Executives

Disadvantages.

1. Training costs money. It requires hiring an expert coach and because you can’t do it by yourself. If you could you would’ve done it already. Fortunately costs can be minimized with the various training options available today.

2. Training takes time and takes sales people out of the field. However, if you take time to sharpen the saw and you can cut more wood. But please and don’t wait for the annual sales meeting. Training is important enough to have its own agenda. It’s like saying, We’re going after a contract and let’s wait for the sales meeting to discuss it. Recognize training is required, but also realize, it can be regionalize, individualized and done virtually. Training should be ongoing rather than an event.

3. Sales managers have egos and fears. Many sales managers feel that they can teach their salespeople. Again, if they could and they would have already. Also, many managers are afraid that if they ask for training and their bosses will think poorly of them. Sales managers need to learn a process and manage to that process. Otherwise, all the manager does is push, push and push. That is and do more of the same and expect better results. That’s classic insanity.

4. Is it worth it? Perception of worth ties to the results. What are more sales worth? Can you really get them with current skill levels? If cost is stuck in your throat and tie the training costs to results. However, most will tell you it’s not the material and it’s the implementation of what was learned. This is why coaching and managing, and accountability training is critical. Did you learn to swim by jumping in the pool one or two times and or where you coached.

C-Level Selling is critical to attain overachieving salespeople. Most sales people do not have these skills and therefore deliver mediocre results. This is the missing major element for salesperson.

For a company to beat competition and dominate their marketplace and they will have to train their sales people and sales managers to perform C-Level selling skills. The sooner salespeople START getting to the top, engaging leaders in meaningful conversations, and developing professional relationships and the sooner a company’s sales will increase at an accelerated rate. The longer you wait and the more time your competition has to C-Level sell.

And now I invite you to learn more.

Bonus Tip: Free Book – TAKE ME TO YOUR LEADER$ – The Complete Guide to C-Level Selling – hardback version. Network, get past gatekeepers, interact with leaders and top executives and secure commitments and sell more than you ever thought possible. Click this C-Level Selling Book Link to learn more about this fantastic offer.SAM Manfer is an expert sales strategist, entertaining key note speaker and author of TAKE ME TO YOUR LEADER$ and a book that gets C-Level and other influential decision-makers to meet with you and return voicemails. SAM makes it easy for any sales person to generate tons of quality leads and become a 70% closer. Sign-Up for Sam’s FREE Advanced Sales Training Tips and Articles at http://www.sammanfer.com

Organizations hire the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and access to the consultants’ specialized expertise.

Because of their exposure to and relationships with numerous organizations, consulting firms are also said to be aware of industry “best practices”, although the transferability of such practices from one organization to another may be problematic depending on the situation under consideration.

Consultancies may also provide organizational change management assistance, development of coaching skills, technology implementation, strategy development, or operational improvement services. Management consultants generally bring their own, proprietary methodologies or frameworks to guide the identification of problems, and to serve as the basis for recommendations for more effective or efficient ways of performing business tasks.

Approaches

In general, various approaches to consulting can be thought of as lying somewhere along a continuum, with an ‘expert’ or prescriptive approach at one end, and a facilitative approach at the other. In the expert approach, the consultant takes the role of expert, and provides expert advice or assistance to the client, with, compared to the facilitative approach, less input from, and fewer collaborations with, the client(s). With a facilitative approach, the consultant focuses less on specific or technical expert knowledge, and more on the process  of consultation itself. Because of this focus on process, a facilitative approach is also often referred to as ‘process consulting,’ with Edgar Schein being considered the most well-known practitioner. The consulting firms listed above are closer toward the expert approach of this continuum.

Many consulting firms are organized in a matrix structure, where one ‘axis’ describes a business function or type of consulting: for example, strategy, operations, technology, executive leadership, process improvement, talent management, sales, etc. The second axis is an industry focus: for example, oil and gas, retail, automotive. Together, these form a matrix, with consultants occupying one or more ‘cells’ in the matrix. For example, one consultant may specialize in operations for the retail industry, and another may focus on process improvement in the downstream oil and gas industry.

Specializations

Management consulting refers generally to the provision of business consulting services, but there are numerous specializations, such as information technology consulting, human resource consulting, virtual management consulting and others, many of which overlap, and most of which are offered by the large diversified consultancies listed below. So-called “boutique” consultancies, however, are smaller organizations specializing in one or a few of such specializations.

Current state of the industry

Management consulting has grown quickly, with growth rates of the industry exceeding 20% in the 1980s and 1990s. As a business service, consulting remains highly cyclical and linked to overall economic conditions. The consulting industry shrank during the 2001-2003 period, but has been experiencing slowly increasing growth since.

Currently, there are four main types of consulting firms:

1. Large, diversified organizations that offer a range of services, including information technology consulting, in addition to a strategy consulting practice (e.g. Accenture, ABeam Consulting, Capgemini, Cognizant, Deloitte, Ernst & Young, IBM, KPMG, Logica, PA Consulting, CSC). Some very large IT service providers have moved into consultancy as well and are also developing strategy practices (e.g. Wipro, Tata Consultancy Services, Infosys)
2. Medium-sized information technology consultancies, that blend boutique style with some of the same services and technologies bigger players offer their clients.
3. Management and strategic consulting specialists that offer primarily Strategy Consulting and Business Intelligence Models to any industries (e.g. McKinsey & Company, The Boston Consulting Group, Bain & Company, Booz & Company, Monitor Group, A.T. Kearney, Roland Berger Strategy Consultants and Arthur D. Little).
4. Boutique firms, which have focused areas of consulting expertise in specific industries, functional areas or technologies. Most of the boutiques were founded by famous business theorists. Small firms with fewer than 150 employees are often referred to as niche consultancies (e.g. Qedis Consulting Ltd, Nonprofit Empowerment Group), who help keep prices down and sometimes introduce new ideas emulated by larger competitors. If they have a unique concept and market it successfully, they often grow out of this segment very fast or are bought by larger players interested in their know-how.(e.g. Tecnova India Pvt.Ltd.,Visnova, CPL Business Consultants)

A fifth type that is emerging is the sourcing advisory firm, that advises buyers on sourcing choices related to insourcing, outsourcing, vendor selection, and contract negotiations. The top 10 sourcing advisors (as ranked by the Black Book of Outsourcing) were TPI, Gartner, Hackett Group, Everest Group, PwC, Avasant, PA Consulting, and EquaTerra. Although a fast growing sector, the largest sourcing advisory practices would likely be classified as boutiques when considering the management consulting industry as a whole – with one of the largest players, TPI, for example, citing 2006 revenues of less than US$150M during its acquisition by ISG.

Another method of differentiation of consulting firms is on the basis of revenue model:

1. Based on time & effort: Most firms charge only on a time & effort basis. They use case studies & past record to justify the fees. e.g Mckinsey, BCG, etc.

2. Based on results delivered only: Very few & usually boutique firms which have an excellent success rate charge on this basis. e.g., The Lab Consulting

3. Combination of both: Many of the larger firms take a part of the remuneration on the basis of delivered results. But usually the variable component is only 20-30% of the total.

Trends

Management consulting is becoming more prevalent in non-business related fields as well. As the need for professional and specialized advice grows, other industries such as government, quasi-government and not-for-profit agencies are turning to the same managerial principles that have helped the private sector for years.

An industry structural trend which arose in the early part of the 21st century was the spin-off or separation of the consulting and accounting units of the large diversified professional advisory firms most notably Ernst & Young, PwC and KPMG. For these firms, which began business as accounting and audit firms, management consulting was a new extension to their business. But after a number of highly publicized scandals over accounting practices, such as the Enron scandal, these firms began divestiture of their management consulting units, to more easily comply with the tighter regulatory scrutiny that followed. In some parts of the world this trend is now being reversed where the firms are rapidly rebuilding their management consulting arms as their corporate websites clearly demonstrate.

Rise of Internal Corporate Consulting Groups

Added to these approaches are corporations that set up their own internal consulting groups, hiring internal management consultants either from within the corporation or from external firms employees. Many corporations have internal groups of as many as 25 to 30 full-time consultants.

Internal consulting groups are often formed around a number of practice areas, commonly including: organizational development, process management, information technology, design services, training, and development.

Advantages

There are several potential benefits of internal consultants to those who employ them:

* If properly managed and empowered, internal consulting groups evaluate engagement on projects in light of the corporation’s strategic and tactical objectives.

* Often, the internal consultant requires less ramp up time on a project due to familiarity with the corporation, and is able to guide a project through to implementation — a step that would often be too costly if an external consultant were used.
* Internal relationship provides opportunities to keep certain corporate information private.
* It is likely that the time and materials cost of internal consultants is significantly less than external consultants operating in the same capacity.
* Internal consulting positions can be used to recruit and develop potential senior managers of the organization.

Note: Corporations need to be conscious of and consistent with how internal consultant costs are accounted for on both a project and organizational level to evaluate cost effectiveness.

* Internal consultants are often uniquely suited to

1. Lead external consulting project teams, or
2. Act as organizational subject matter experts ‘embedded’ with external consulting teams under the direction of organizational management.

A group of internal consultants can closely monitor and work with external consulting firms. This would ensure better delivery, quality, and overall operating relationships.

External firms providing consulting services have a dichotomy in priority. The health of the external firm is in aggregate more important than that of their client (though of course the health of their client can have a direct impact on their own health).

Disadvantages

* The internal consultant may not bring the objectivity to the consulting relationship that an external firm can.
* An internal consultant also may not bring to the table best practices from other corporations. A way to mitigate this issue is to recruit experience into the group and/or proactively provide diverse training to internal consultants.
* Where the consulting industry is strong and consulting compensation high, it can be difficult to recruit candidates.
* It is often difficult to accurately measure the true costs and benefits of an internal consulting group.
* When financial times get tough, internal consulting groups that have not effectively demonstrated economic value (costs vs. benefits) are likely to face size reductions or reassignment.

Source: Multiple including Wikipedia

According to the demand of the situation, consultants are required to turn up with specialist recommendations. Therefore the business consultants should be equipped with significant amount of knowledge and resources. Consultants should also perform comprehensive studies regarding the prospect of any particular project and carry out researches to meet both the ends of business improvement and finances.

It is highly essential to analyze the requirement and consequently select the particular consultant. The consultant should be capable enough to work under the prescribed infrastructure and technical facilities. It is noteworthy to gather substantial information about the work history, educational background and references of any consultant before hiring him/her. Any consultant familiar to similar projects as per the requirement should always be preferred.

Consultants should be aware of the particular needs and at the same time take into account the limitations. From this point of view a consultant having previously worked with non-profit organizations is extremely commendable. Focusing the specific mission, the consultants should envision the obligatory measures keeping in compliance with the infrastructural bindings. Explicit communication with the consultants is a key towards business improvement.

Consultants should provide rational solutions and ready to explain the reason behind adopting such solutions. Instead of promoting any personal relationship, the consultants should be concerned more about the well-being of the company they are working for. A good-natured consultant can not only enhance the business improvement but also bring about his/her personal development in the long run.

Providing the required assistance without exceeding the time limit is another deciding factor that comes into play while hiring a consultant. A consultant should back himself/herself with considerable resources to meet the desired result within the time assigned.

Source: ArticlesFactory.com

ABOUT THE AUTHOR

Coaching for Skills

Instructions for skill development are devised to make the executives learn specific abilities and give them various perspectives regarding management and relationship coordination. New responsibilities require innovative tactics to handle numerous situations, which the personnel have not encountered before. Refining the existing proficiency of the employees is the basis of business coaching for skills. The coaching session is usually spread over a period of several weeks or months.

Coaching for Development

This type of coaching caters to the characteristics and competencies of the individual and helps to enhance them. It explores the persons existing facets and modifies them according to the requirement of the new profile and the bigger challenges that it brings. This includes refining their listening skills, cultivating strategic planning, improving time-management, being receptive to suggestions and changes and encouraging participation among subordinates. It focuses on the overall development of the individuals by not only training them to handle newer profiles via broadening technical know how, but also helping them integrate their interpersonal competence. This purpose is served well when the association is restructured or reengineered.

Coaching for Performance

Performance is evaluated based on personal capacity as well as the group feedback, which is received from the team. It does not suffice if you are conversant with the required technical or academic skills but lack any positive rapport with your team, and treat your staff like working apparatus. How personnel handle their teams, reflects directly on their performance and creditability. Performance is not rated on work completion rate, but on the team spirit and collective effort that the supervisor was able to extract out of his team. The coaching for performance develops the employees effectiveness in their existing position and facilitates their growth in the organization.

Executive Coaching

Usually when employees climb up the corporate ladder to an executive level, they are sometimes perceived to be arrogant by their earlier team members. This necessitates the executives to be strong to handle the criticism and to win over the confidence and support of those around. It is imperative to build a positive rapport and assure the staff of their loyalty. The executives require coaching to help them plan their strategy in winning over their new subordinate staff. It requires executives to be mentally and emotionally capable to handle the new responsibilities. The coaching addresses the executives personal issues such as confidence in handling negative feedback initially, mental blockage regarding any particular aspect of the work and much more. Communication and leadership skills and are the highlights of the program.

Transformational Coaching

Transformational coaching is more personal or intimate in its approach. It specifically analyzes those aspects of the trainees behavior which hinder their effective performance. It evaluates the personnel current abilities and behaviors and reworks a methodological strategy to improve them Everyday interactions have to be observed and an analysis is to be made for the coach to give any advice. The coach identifies the limiting behavioral patterns and a plan to overcome them steadily and effectively is developed for the individual. Transformational learning is successful only when the trust between the client and coach is established.

About the Author:
You can trust our 25 000 Graduates who we trained for a better career in construction. Please go to http://www.earthmoverschool.com or phone 1.800.488.7364. Earthmoverschool.com has trained over 30,000 Construction Equipment Operators.

The techniques I’m about to share with you are time tested and proven to be effective, however, they are often overlooked by business owners. They are basic ways to add additional profit to every transaction.

Follow up. This little gem has been used by merchants since the time of the pharaohs. When you make your first sale, you MUST follow-up with the customer. Send them a “thank you” email and include an advertisement for other products you sell. Also, don’t let the relationship end! Follow-up at regular intervals; once every few weeks, or once a month. Add them to a mailing list. You could even automate this with the use of an email autoresponder. Isn’t technology wonderful?

Upsell! Think about it. If you went to a department store to buy a transistor radio, you are also going to need batteries. You might even need an earpiece. You can upsell to your internet customers the same way. When they’re at your order page, tell them about a few extra related products you have for sale. Offer to add to add it to their original order as a convenience to them.

Referrals. You know your customer is going to love whatever you’re selling them. They’re going to tell their friends about it. Tell your customer if they refer four customers to your web site, they will receive a full rebate of their purchase price. You get the customers money up front and they will send you four more customers. This will effectively multiply your original profit by a factor of three!

Affiliate Programs. Related to the technique above, but with subtle differences. When you sell a product, give your customers the option of joining an affiliate program so they can make commissions selling your product. This will multiply the sale you just made and provide you with a residual source of new customers.

Sell the reprint/reproduction rights to your products. This is VERY profitable when selling Information products, but could work in other areas as well. Include your ad inside the product for other products you sell. You could make sales for the reproduction rights AND sales on the products advertised inside. This is sometimes referred to as “viral Marketing”; because the person to whom you sold the reprint rights will distribute their product widely with your offers inside.

Joint Ventures. This is the old “two heads are better than one” scenario modified for internet profit! Cross promote your product with other businesses’ products in a package deal. You can include ad copy for other products you sell and have other businesses selling for you.

Coupons. Here’s another classic easily adapted to online sales. When you ship out or deliver your product, include a coupon good for a discount on other related products you sell in the package. You are rewarding your customer for the business and it will dramatically increase the odds that they will buy more products from you.

Send a catalog. If you think the internet has replaced the paper catalogs of old, then think again! Catalog marketing is very effective, even today. Send your customers a catalog of add-on products for the original product they purchased. This could be upgrades, special services, attachments, etc. If they enjoy your product they will buy the extra add-ons.

Gift Certificates. It’s getting more and more difficult to give gifts these days. Solution? Gift certificates! When you sell a gift certificate, you’ve solved a problem for your customer, plus you’ll make sales from the purchase of the gift certificate. When the recipient cashes it in, you have the opportunity to upsell.

Free Bonuses. People LOVE freebies! Send your customers free gifts with their product package. The freebies should have your ad printed on them. For businesses selling physical goods, It could be bumper stickers, ball caps, t-shirts etc. This will allow other people to see your ad and order. If your product is electronic or digital, it’s even easier, because the giveaway will usually cost you less.

There are countless other ways to maximize your sales. The purpose of this article is merely to open your eyes to the fact that the quality of the relationship you build with your customer is what increases your profit. The underlying idea is to build trust. If your customer considers you a valuable and trusted resource, you will be rewarded with more profits!

About the Author:
Super-Affiliate Kevin Grimes reveals how he generates Multiple Streams of Affiliate Revenue by sending targeted visitors to one site: Plug In Profits!

Starting a business includes many steps that will be explained. The first step in a business plan is deciding the nature of the business. A detailed description of products and services is the first part of a business plan. For a fishing shop, for instance, the products would be all the fishing rods and accessories.

In addition to a detailed description of products, a detailed description of services must also be made. The owners must decide where or not there will be a service department with the fishing shop.

The next part in figuring the nature of the business is to decide the estimated risk. The risk of the business is based on the analysis of the industry. To analyze the industry one should take several considerations into thought. For example, how much demand for the business there will be in the area, as well as, how other businesses of the same nature have done in the area.

Size and location of the business are also required to figure the nature of the business. The size of the business can be based on the capital available, the demand in the location, as well as any other factor that might affect the business. Location is based on many of the same factors.

The second step of a business plan is to plan the goals and objectives of the business. This step requires thinking about what the short-term and long-term goals will be. In addition to the short-term and long-term goals, the owners must express the expected results in sales volume and profits.

These goals and objectives should be based on the amount of capital invested and the amount of the loan. The business must plan to make a profit, however, the profit does not have to be immediate. It may take a little while for the business to become established in order to make a profit.

The long-term plan of the business might take all this into account. A marketing plan is the next step of a business plan. A marketing plan takes into account customers and their demand for the fishing rods, accessories, and services. A marketing plan should also include prices for the products and services, and a comparison of products and services with competitors in the area.

The prices should be figured based on the supply and demand theory. If there is a large demand and no other competitors in the area your prices can be much higher than if there is little demand for you products or services, or if there are several other competitors in the area.

The business plan is essential in the formation of any business. In addition to the business plan a list financial institutions which to apply for a loan should be assembled, as well as, hiring a lawyer to help in the formation of the business. Proper planning might take a long time but in the end it will make the process of starting a business much easier.

More resources on business startups

work is to have a business plan.

Plan ahead. This is all that is needed to make every goal and aim in the entrepreneurial

world a success. Thus it is imperative to come up with a great business plan.

What Is a Business Plan?

Coming up with a business plan is the first big step in implementing any business. This lays down the aims as well the details of the endeavor.

This includes an outline of the goals, expected expenditures, promotion materials and even the exit plan. It serves as a map and gauge as the business proceeds. It also helps the company be constantly reminded of priorities.

Furthermore, the business plan is also a requirement to most people who seek assistance. Banks and lending institutions have to see to be given this plan as a basis whether or not they will lend money to the organization.

How to Write a Great Business Plan

The important elements of making the business plan will depend on the type of business being ventured on. It will also depend on what is intended by the entrepreneur.

There may be no one formula but here are some of the guidelines that will help in coming up with a great output for the new business -

1. Vision and Mission

In any organizational endeavor, the vision and mission is the first thing to take care of. This shall indicate the direction of the company.

2. Inception

Give a short summary of how the plan or company came into being. What is the basis of the idea for the business? Who are the people responsible for the idea? Why did you decide to create the business?

3. Goals of the Company

Provide the short-term and long-term goals. What are the aspects to focus on immediately? What are areas will have to be addressed in the long run? How long will it take for the company to expand? When is the expected date of realizing the profits?

4. Products and Services

It is important to give special attention in presenting the products and services the company plans to offer. Even at the planning stage, these should have been materialized already.

Discuss the features of the products or services. Explain how it will stand out from the other products and how it shall respond to the needs and demands of the market.

This part will be best supported by a market research conducted by the company that includes the assessment and evaluation of the demand for the product.

5. Management

Include also a short biography for each member of the management. It should provide the names and backgrounds of every person at the least. It will also be proper to indicate their positions and the responsibilities they have to fulfill.

6. Marketing Strategy

The business plan must also present the marketing strategy that shall be implemented. This lays down the plan on how the company will make its presence felt in the market.

One must consider the proper promotional materials, whether it will utilize the print, television, internet or the combination of all three. The marketing tool should be specified, as well the budget and costs.

7. Financial Projection

This projection is like a financial forecast given for a target period. The usual periods taken are three-year or five-year terms.

This may get quite technical as it includes spreadsheets, formulas, statements and even some assumptions. Make sure that this part is properly studied. Get assistance if needed to ensure that this is carefully worded and presented.

8. Exit Strategy

The exit strategy is a section that presents the alternative of the company. It lays down the standards when the company will have to end. It can be made to depend on a specific income generated, a target figure or even something that will be decided upon by the company leaders.

9. Consider the Factors

Keep in mind the people involved, the context of the business and the possibilities of the endeavor when considering the points enumerated above. This shall help in coming up with a great business plan as it ensures cohesiveness of ideas and an impression that one knows the business

well.

Or are your services no different than your competitors?

Really, why should people do business with you and not one of them? You’ve got to have a very good answer for that, or you are on your way out of business.

In an earlier piece I discussed the importance of finding and owning your niche, your target audience around which you create your unique selling proposition.

That description was based on the principles of psychographic marketing, a strategy of focusing on what your audience has in common, learning everything you can about that commonality, and positioning your solutions around issues that effect each of them.

In another article I described how “Doing It Right” can play an important learning/teaching role, making you feel more at home calling on and selling your services to business owners. I know it works, I published it based on almost three decades of real-life experience.

Here is another way to choose your ideal client type, based on where they are on the curve from start-up to sale or exit strategy.

In the previous article I suggested a ‘vertical’ psychographic process, every prospect being in the same industry for example, an industry you already know something about or have existing credibility in.

Here is another way to look at your target market, one that may help you further identify where you want to work, where your specific knowledge, skill, and abilities will have the greatest impact.

How about working with start-ups?
When businesses are just getting going, everything that each of them does they are doing for the first time. There will always be mistakes when creating business strategies, but at this stage the mistakes can cause the business to fail before it even has a chance.

Perhaps your specialized knowledge, that unique perspective you bring to the equation, is especially suited to helping these entrepreneurs. I know a business coach who has conclusively demonstrated to me his clients and me, that without him, they would fail failed and lost everything.

What have you learned or experienced to date that gives you special insights when working with people at this fragile stage?

Perhaps yours can be the voice of experience, the voice of reason – while their excitement runs from high to low from one minute to the next.

There are three principles for new business failures. How can you help?

One is a lack of experience, can you help them with this? Do you have a coachable point of view worth paying for?

Another is a lack of money, they run out of money before their revenues exceed their expenses. Again, can you help them figure out what’s important to use their limited resources on? Can you help them set priorities, make decisions strategically so they will have a fighting chance to get over the hump?

And finally, the business was a bad idea. You know, “It seemed like a good idea at the time.” Can you be a voice of reason? Your interactions might help them redirect their energies and resources into a more productive venture.

How about working with businesses that have escaped the failure of most entrepreneurs?
This business is a survivor that has beaten the odds, moving from the weekly panic that the payroll will bounce – to one that is looking for more employees, more equipment, and perhaps a more professional management structure.

This business must build on what’s working, focusing on what’s important to their continued growth.

Even though they are successful. seventy-five percent of them will fail to outlive their founder. The average life span of this successful company is 23 years.

Why is that? Maybe they lost their focus, their identity, or their vision. Maybe things were going so well they quit doing them.

Is this a coachable opportunity for you? You bet. They have already demonstrated that they have a viable economic proposition. They did not already go broke like eighty or ninety percent of the other start ups.

If they recognize that you can be part of their turnaround, in your manner, in your attitude, and in your focus on them, they will pay your price. After all, their very life (business and personal) depends on the business and hopefully on you too.

Maybe you can focus of companies that have hit a “flat spot” in their developmental process.
It happens to all successful companies after the making money equation has been figured out, the founders of the business are making more money that they ever thought possible, and they have not yet started thinking about what is going to happen to the company when they are ready to step down.

The people begin to be effected by a sort of malaise, stagnation brought on by no urgent battles to fight.

The business proposition is working just fine thank you very much, often in spite of them. They’re making money, living the good life – but there is a lot of dissatisfaction often under the surface. There’s no joy in the process.

This is where most coaching takes place in business today. Can you see yourself as part of their solution?

Issues such as conflict resolution, executive burnout, lack of motivation, intergenerational conflict, sibling rivalry to name a few.

Opportunities in team building, strategic communications, employee motivation, strategic planning, and on and on.

Maybe you specialize in only one of the above. A place where your specialized knowledge has a maximum value to a group of business owners.

There’s no limit to what you can achieve working with companies in the doldrums!

The Final Frontier! Maybe this is where you will find your niche.
According to a recent Wall Street Journal article, the next ten years will see the largest transition of wealth and management in history.

The gigantic boom that began after WWII in the US and gradually around the world over the last fifty years, those business owners who were successful, outlasted their competition, and got past the “flat-spot” in productivity are now passing the torch to those who follow them.

Is this where you belong? Working with the most wealthy among us.

These successful businesses have only three options available to them. What role can you play in the process?

They can be sold, perhaps to strangers, to investors, or to their competitors wishing to consolidate their position in the industry.

To achieve any of these possibilities successfully requires insights and knowledge not likely to be found internally. Perhaps this is an area of special experience for you?

A second option is that the business can be sold at auction at a drastic discount compared to its value as a going concern.

If this is determined to be the only option, special knowledge, strategies, and techniques may help the business owner make the most of this often very negative situation. Can you add value in this process?

Or the company can continue on in the life of a family member or other insider. This is the preferred option by the vast majority of business owners.

Succession planning in expectation of this option works best when developed over time.

Gauging the commitment of the successor generation, the owners not ready for retirement yet, but are ready to share the management load, or perhaps no one wants to run the place in the next generation. How can you help them uncover what’s important to each of them?

Each business determined to continue beyond the retirement of the founder offer those of you who specialize with them, virtually unlimited opportunities for coaching, training, and mentoring.

And those opportunities are not just for business and executive coaches.

Coaches specializing in pre and post retirement coaching, management, conflict resolution, career coaching, and life coaches will find a fertile field among these wealthy business owners.

I know a life coach who helps high school students whose families own large companies.

Her role is to help them surface their real desires, interests, and aptitudes – so they can move beyond high school toward a productive role in the family business or not.

Her presentations to trade association groups present both sides of the stories, with not a dry eye in the place at the end.

She has all the business she can do working with business owners in a single industry, as well as world of satisfaction helping people see their futures in a positive and exciting light.

My objective here is to help you see your potential prospects from an angle you may not have considered before.

I hope you are making notes and brainstorming with your associates and friends.

I hope you will read all of the articles in this series. I guarantee you that you will be able to come up with a very tight, specific, and accurate description or your ideal client and a very targeted strategy for getting your benefits in front of them.

About the Author:
Wayne Messick is the publisher of articles to help you grow your business at www.iBizResources.com/article_directory/ If you are a business owner wanting to leverage what you are already doing right visit the Peer Groups area of our website.