Wise Wednesdays - Where's the Beef?

I’ve read over 300 business plans to date and counting. My biggest beef is that most business plans don’t have any! Where’s the beef? People write 16 pages on the industry scope, fancy pie charts and complex cash flow and income statements. However, many miss the mark on one key question: How will they get and keep clients?

The first part of the question addresses a comprehensive Marketing plan. In this section many just lack the details. It is far more beneficial to list particulars of a networking strategy i.e. where you will network on a weekly basis, why this makes sense, who you will approach and what follow up system you will use then it is writing out a shopping list of all the 101 marketing activities you will supposedly do.

Less is more. Just be thorough.


The second part of the question addresses value: What the client actually buys. Many business plans skirt the issue. It’s not just about how “different you are”. After all I can put on a purple tiara on my head and be “different” but will people buy from me? Value is a combination of quality, customer service, the perceived value in the customer’s mind, the experience of the interaction and how you meet customer expectations.

What will you do to create compelling value? Be clear. Be detailed. Go deep. I want some beef!

Cheers,

Dominik