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Casual Articles - Advice To Manufacturers Creating A Business Plan
Chairing a Pathology Department at Centrastate Hospital in New Jersey and simultaneously running two laboratories in two remote states (Oklahoma and New Jersey) require Dr. Michael McGinnis to match his medical expertise with savvy business sense."A pathologist must track workflow of the entire laboratory from receiving a sample and requisition form, to accessioning, to patient demographics, to history, to gross, dictation, proof, distribution, and billing," says Dr. McGinnis. "I need to know precisely what unfinished work is left at each stage in every lab. I need to track every step and know exactly who has done what regardless of their location. And I need this information in real time. For instance, I need the list of signed off reports arra
We sure seem to see a sense of entitlement of the graduating classes of MBA Students. You know they just think they know everything. Having done much public speaking on the subject of business, management and marketing I was always completely under whelmed at the questions that these business students would ask me.I use to think to myself what an idiot under my breath, but of course I was cordial. Much in the same way that many executive managers are condescending to their middle managers. And much in the same way as the President of the Company or even the Board of Directors are to their underlings. But in the end someone really needs to take these young hot shot know it alls and shake them silly, as they lack discipline, have too much arrogance f
- Comfort prospective investors with putting their money into your hands, and
- Show why potential customers will award business to you rather than your competitors.
Earn the Trust of Skeptical Investors…
Prospective investors want to select the best investments. For an investor, this means earning the highest return on their money for the risk they take. Besides their own research, they seek more specific information from
Business expos can be an excellent marketing investment and an outstanding way to build your business. On the other hand, if not treated as an integral part of your marketing strategy, they can become a huge waste of time, money and energy.To gain the most from your investment develop a plan for before, during and after show preparation.Determine goals and outcomes. Decide why you are at a show before you are there. Are you there to increase sales, have a presence in the marketplace, introduce new products, and/or enhance or solidify your image? Unfortunately, many companies decide while they are at the show and then management feels they have wasted their investment.Train staff and management. A great deal of how an exhibit is rememb
- Comfort prospective investors with putting their money into your hands, and
- Show why potential customers will award business to you rather than your competitors.
Earn the Trust of Skeptical Investors…
Prospective investors want to select the best investments. For an investor, this means earning the highest return on their money for the risk they take. Besides their own research, they seek more specific information from
Do You Have a Disaster/Recovery Plan?With the recent onslaught of ice storms and flooding happening all over the US and Canada, as well as the hurricanes that ripped through Florida and the south earlier this year, many people are finding themselves faced with tremendous losses regarding both their homes and their offices. Most people have some type of homeowner's and business insurance to help rebuild and replace personal and business items, but what about your business records and critical files? If your office was destroyed today, would you be able to continue serving your clients and running your business, or would your business come to a complete halt? If you were sick or incapacitated, would anyone else know where to find important files on
Earn the Trust of Skeptical Investors…
Prospective investors want to select the best investments. For an investor, this means earning the highest return on their money for the risk they take. Besides their own research, they seek more specific information from
Recently I helped an entrepreneur work thru the details of launching a new start-up business of a personal technology product. His goal was to sell the product thru TV infomercials. A few things concerned me with this and so I asked him if he had ever done an infomercial or sold anything that way? His answer was “NO!” Then I asked if he has a workable prototype; His answer was “No and I am no Mr. Home Depot and so if I build it, then it will not work!” So I mentioned the problems with these factors if he decided to go ahead with his plan to launch this product.“Something you said greatly concerns me; you want to do a TV infomercial campaign as your primary sales, yet you have never done one before. So in essence you do not want to build it, do not
Prospective investors want to select the best investments. For an investor, this means earning the highest return on their money for the risk they take. Besides their own research, they seek more specific information from
While working with a new coaching client, I asked to hear her sound bite. Everyone needs a good sound bite. A sound bite, sometimes also called an “elevator speech,” is a 10- to 15-second commercial on what your company does, offers or stands for. Use it when you meet someone new in business, use it at networking meetings, and use it on the telephone as part of your introductory calling script. Here is the sound bite from my client:Client: We offer complete marketing solutions.Wendy: (With eyes glazing over…) Huh? The idea behind the sound bite or elevator speech is to communicate clearly, easily and effectively what you do and why someone else should be interested in what you do. I asked my client, if a friend asked her to
The major challenge to investors is deciding what is a good opportunity. Often asked to invest funds with little reliable information, investors have difficulty deciphering information about the various investment alternatives they are evaluating. This leaves them fearful of getting into an awful deal and skeptical of the deals being presented. In addition, time pressures often force investors to decide on
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