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Casual Articles - Keep Business Operations and Logistics Simple, Streamlined and Agile
At a business conference recently I got a powerful message about the power of authenticity. Paul Ray, coauthor of the best-selling book, The Cultural Creatives: How 50 Million People Are Changing the World, gave a compelling presentation about how small business can leverage their authenticity to achieve greater success.Ray shared that if you own or work in a small, socially responsible business, you have a big advantage over the "big guys," the Fortune 500-type corporations. While not every big business is "bad" and not every small business is "good," the public does not, in general, place much trust in the big guys. Enron, WorldCom, and Tyco are just a few examples of big companies that lost the trust of their employees, customers and communities.I always feel a bit sad when a favorite company, like Ben & Jerry's or Celestial Seasonings, gets bought by the big guys. I believe the product and company culture will probably change.When we're smaller, it's easier in our marketing with both custome
Manufacturing
There are almost no good reasons for a startup to manufacture their own product. Possibly, if there is a very valuable trade secret involved, but not often even in that case. All contract manufacturing should include a Non-Disclosure Agreement (NDA) as part of negotiations. Contract manufacturing is available and utilized in almost every industry today. Estee Lauder manufactures almost none of the many cosmetic or fragrance products they
Surely you know what I mean. Those gangly looking birds that stand on one twiggy looking leg. Their beak (or is it a bill?) is hooked and black. And they flock by the hundreds at the watering hole. Thousands maybe, all together and...THEY ALL LOOK THE SAME!Now I'm not suggesting you run out and paint your shop in day-glow colours, or dress up like Zippo the clown, I just thought I'd draw your attention to something that often gets overlooked.We tend to think of appearances in an external context, we think of what we 'present' to the outside world instead of how we're perceived by the outside world.Here's what I mean, it's called the "Well I should hope so!" test. Try this out on the next statement:"We're honest and we fix your car right the first time. We charge reasonable rates and we guarantee our work."Altogether now... "Well, I should hope so.!"What else would you expect to say? "Hey, we're lousy. We'll fix things that aren't broken and make sure the ori
Investors want to see a plan that maximizes return on investment. High fixed costs are the enemy of a great profit margin. When business turns down, and it always does at some point, fixed cost assets become liabilities and must be continually fed, even as income declines.
Always present decision-makers with the most streamlined operations plan possible. Do not confuse grandiose staffing and equipment wants with actual needs. In today’s business climate, almost every possible service can be rented, leased, farmed out or performed by contract manufacture. A 25,000 square foot factory that is not running at 100% capacity is an under-performing fixed cost asset, especially if a private label manufacturer will provide the service at a competitive price. The cost to rent, power, insure maintain and staff the facility is ongoing and will be a drain on the bottom-line.
Investors want to see a lean operation with no fat or excess. They will always be open to adding costs as growth and sales traction begin to kick in. Initially, the entrepreneur needs to display that he or she will be a prudent shepherd of the investment required to startup the enterprise. Here are a few areas where fixed costs can be avoided and potential investors greatly impressed.
Facilities
An opportunity killer is a funding request that includes money to buy a facility, office or plant. No startup can accurately pinpoint the growth (or failure) rate of a brand new business. Investors will want to see a plan reflecting realistic goals and space requirements. This almost always means renting facilities until need demands a purchase of facilities.
Manufacturing
There are almost no good reasons for a startup to manufacture their own product. Possibly, if there is a very valuable trade secret involved, but not often even in that case. All contract manufacturing should include a Non-Disclosure Agreement (NDA) as part of negotiations. Contract manufacturing is available and utilized in almost every industry today. Estee Lauder manufactures almost none of the many cosmetic or fragrance products they
Just gaze around and check how many products carry a brand name, message or logo of a company—you will see a lot. There are plenty of these products that we use in our everyday lives. Advertising Specialty Products are the best way to build a corporate image and create brand recall. Whether it is for a short-term goal like sale boosting or long-term goal like creating a brand image, Advertising Specialty Products are suited for all the tasks. They can also be used as a medium to motivate or inspire the employees within the organization.These Advertising Specialty products not only carry your logo or message, they also carry your much-valued brand name. A high-quality Advertising Specialty Product will carry your brand name for many years, in comparison to a low-grade and cheap product. Nowadays, Advertising Specialty Products are not only restricted to cups or mugs, but can also be T-shirts, mouse pads, caps, trousers, pens, sticky notes and many other products. Many companies provide these products at a ver
Always present decision-makers with the most streamlined operations plan possible. Do not confuse grandiose staffing and equipment wants with actual needs. In today’s business climate, almost every possible service can be rented, leased, farmed out or performed by contract manufacture. A 25,000 square foot factory that is not running at 100% capacity is an under-performing fixed cost asset, especially if a private label manufacturer will provide the service at a competitive price. The cost to rent, power, insure maintain and staff the facility is ongoing and will be a drain on the bottom-line.
Investors want to see a lean operation with no fat or excess. They will always be open to adding costs as growth and sales traction begin to kick in. Initially, the entrepreneur needs to display that he or she will be a prudent shepherd of the investment required to startup the enterprise. Here are a few areas where fixed costs can be avoided and potential investors greatly impressed.
Facilities
An opportunity killer is a funding request that includes money to buy a facility, office or plant. No startup can accurately pinpoint the growth (or failure) rate of a brand new business. Investors will want to see a plan reflecting realistic goals and space requirements. This almost always means renting facilities until need demands a purchase of facilities.
Manufacturing
There are almost no good reasons for a startup to manufacture their own product. Possibly, if there is a very valuable trade secret involved, but not often even in that case. All contract manufacturing should include a Non-Disclosure Agreement (NDA) as part of negotiations. Contract manufacturing is available and utilized in almost every industry today. Estee Lauder manufactures almost none of the many cosmetic or fragrance products they
It’s true. Things have changed. You need to know the 3 Keys to Taking Control in this wildly-changing job world.2.6 million were laid off the past three years, 600,000 in 2003. The most mass layoffs in history occurred in January 2004. 2004 saw more mass layoffs than any previous year. Manufacturing jobs are down from 21 million in 1980 to 14 million today. As an example, Levis closed the last of its 63 plants in this country. So that most American of icons—Levis—are now only made offshore.Think you’re not at risk? Economists say that 75% of those who have jobs now are at risk of job loss because they work in the 5 industries undergoing what they call “creative deconstruction”--or down-sizing, right-sizing, outsourcing, and off-shoring. Those 5 industries are Airlines, Communications, Finance, Manufacturing of Electronics, and Technology. That’s a lot of the economy.You Need the 3 Keys to Taking Control1. Take Care of Yourself by Taking Control of Yourself2. Take Control o
Investors want to see a lean operation with no fat or excess. They will always be open to adding costs as growth and sales traction begin to kick in. Initially, the entrepreneur needs to display that he or she will be a prudent shepherd of the investment required to startup the enterprise. Here are a few areas where fixed costs can be avoided and potential investors greatly impressed.
Facilities
An opportunity killer is a funding request that includes money to buy a facility, office or plant. No startup can accurately pinpoint the growth (or failure) rate of a brand new business. Investors will want to see a plan reflecting realistic goals and space requirements. This almost always means renting facilities until need demands a purchase of facilities.
Manufacturing
There are almost no good reasons for a startup to manufacture their own product. Possibly, if there is a very valuable trade secret involved, but not often even in that case. All contract manufacturing should include a Non-Disclosure Agreement (NDA) as part of negotiations. Contract manufacturing is available and utilized in almost every industry today. Estee Lauder manufactures almost none of the many cosmetic or fragrance products they
Traditional brochures typically tell the story of your company, i.e. they give evidence that you or your company have the wherewithal in personnel, capital, clout and expertise to perform the services you say you can perform or deliver the product you're selling. They are usually 3 or 4 panel affairs, printed on glossy paper, and featuring nice graphics or photographs. Think of company brochures as a resume for your business...Thus they are part of your "collateral" package.But do you need a company brochure? Producing a company brochure is often time-consuming and expensive. The money and effort spent creating a company brochure may be better used on another marketing method.Four questions to help you decide if you need a company brochure:1. Do your competitors use company brochures?That doesn't mean your biggest competition printed a brochure in 1992 and still have 1000 copies sitting around their office in dusty boxes. If you see your competitor's brochure when you make calls to potent
Facilities
An opportunity killer is a funding request that includes money to buy a facility, office or plant. No startup can accurately pinpoint the growth (or failure) rate of a brand new business. Investors will want to see a plan reflecting realistic goals and space requirements. This almost always means renting facilities until need demands a purchase of facilities.
Manufacturing
There are almost no good reasons for a startup to manufacture their own product. Possibly, if there is a very valuable trade secret involved, but not often even in that case. All contract manufacturing should include a Non-Disclosure Agreement (NDA) as part of negotiations. Contract manufacturing is available and utilized in almost every industry today. Estee Lauder manufactures almost none of the many cosmetic or fragrance products they
Compassion is one of five principles of the Skilled Facilitator approach. (It's also one of the four core values of the approach.) I have already written about the other four principles: curiosity, commitment, accountability, and transparency.Compassion means temporarily suspending judgment so that you can appreciate others' perspectives or situations when they are different from your own. To be compassionate you need to be genuinely concerned about the other person or people's needs. You need to think about and feel it from their perspective.Here's a simple example. When I'm teaching facilitators to work with groups, sometimes they get really frustrated by the group. The group members don't stay on task or they don't keep commitments. When the facilitators get frustrated they wonder why I can seem so "patient." My answer is that I have compassion for the group. The team members are trying to change (which is why we're working with them) and they don't always change at the pace we would like them to. G
Manufacturing
There are almost no good reasons for a startup to manufacture their own product. Possibly, if there is a very valuable trade secret involved, but not often even in that case. All contract manufacturing should include a Non-Disclosure Agreement (NDA) as part of negotiations. Contract manufacturing is available and utilized in almost every industry today. Estee Lauder manufactures almost none of the many cosmetic or fragrance products they market. Liz Claiborne and Calvin Klein make none of their apparel. Ikea sells only furniture made in third world facilities.
All of these companies, and many more, realized long ago that manufacturing was better left to factories located where labor, raw materials and government rules were not stifling. These companies concentrate their assets on research and development, design, sales and marketing. So should every entrepreneur seeking to succeed in obtaining investment.
Sale
Every entrepreneur should be able to aggressively market and sell their product. However, no single person, or small partnership, can be in front of every customer that will potentially be interested in purchasing the product on offer. The investor will want to know that there is a sales strategy that offers an excellent chance for success.
In the area of sales, there are industry specific sales representatives: manufacturer’s representatives and agencies available to sell an interesting, market ready product, on commission, within their industry. Commissions are typically standardized within each industry. The gift industry is 15%. Food products are 3% and up, depending on the volume a product can reasonably be projected to achieve. Industrial products are 2% to 5%. Historic profit margins dictate commission rates.
When using sales agents, the entrepreneur should manage the sales force as if they were salaried employees. Weekly calls to review goals, promotions and upcoming meetings. Write letters and e-mails pointing out other agent’s successful achievements. I have used commission sales agents for many years, and recommend them to most of my clients.
I make as many key- account sales calls as possible with my sales agents. If it is my product, I want to control big presentations, even though I will pay a commission on the sale I have principally generated. I attend as many sales meetings as possible. The more I can meet, learn and know about my sales team
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