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Info Blast from the ASBDC Conference (September 16, 2009) As many of you know, Michael Daley, Sherry Darden and I are in Orlando, Florida this week attending the Association of Small Business Development Centers 29th annual conference. This is a yearly trip to learn about new business growth techniques; a chance for us to network with other SBDC's from all over the US; and an opportunity to get certified in specialties that can help our clients. There has been so much excellent information, which we couldn't wait to share it with you! Enjoy! Marta Frey Director, Collin SBDC 1st Special Conference Issue 2nd Special Conference Issue 3rd Special Conference Issue 4th Special Conference Issue 5th Special Conference Issue NEW! 5th Special Conference Issue NEW! Calculating Break-Even Classify costs as fixed costs or variable costs, then total each category Calculate variable costs as a percentage of sales Determine the contribution margin percentage (% of every sales dollars left after variable costs are removed) Divide fixed costs by the contribution margin percentage Key Marketing Indicators In other words, which prospects should you spend your time on and/or what marketing activities are bringing you the most bang for your buck. Number of leads generated Percentage of leads converted (what’s your closing rate) Average sales per customer Number of transactions per year per customer Results per customer Also remember that if a client can’t differentiate between you and the competition, the client will make the decision based on price. Therefore, set your company apart from everyone you compete with. Google Personal Profiles Did you know that you can create a personal profile, for free on Google that can help you highlight and market your product or service? That way, when someone searches for you (your name), they’ll find your business information too. Visit www.google.com/profiles for more info. Back To Top 4th Special Conference Issue "Yes,.....I do that too!" Is that what you say to your customers? The secret to a successful business is to be the expert. Decide what you want to be the master of, and not the jack of all trades. The outcome will be working smarter not harder. Know what you are good at and know when to say no! Website Fundamentals Make it interactive Offer something of value (free report or website application) Make it easy to navigate. Make it easy to respond to you (email, phone call) Differing Opinion Dane Miller (Azure Marketing Communications) had a different opinion about the Crowdspring information I wrote to you about earlier. I thought his information would be helpful: The system is 100% driven by price. The work, while often serviceable, also has an implied connotation that it was "easily produced" - a terrible precedent to be setting. The work is created in a total vacuum as far as any type of relationship with the end client. There are a few details shared on the project, but after that, it's scatter gun design, and in the end client, without even realizing it, is the victim. The client gets something that looks good (hopefully), but is not aligned to any real longer term thinking, or tailored to a dedicated audience. How many of the dozens and dozens of concepts that were created and ultimately not selected wind up being re-packaged and sold to other clients as "original"? Back To Top 3rd Special Conference Issue "Status Quo is the Opposite of Grow" In difficult economic times, try to do things differently to reach new, preferably positive results. Try things like: Know who/what you can save; prioritize what is most critical, not just the issue in front of you Don't forget that cash is king Trust your employees and let them know what's going on - good or bad Maintain your marketing; don't reduce the one thing that continues to bring you clients Master Your Profits You do this by: Study your cash flow first Evaluate your profits Then consider your sales Most business owners look at their sales to assess profits, and finally check their cash flow. This is backwards. The only ways to increase your profits are: Lower your variable costs (buy better, cheaper) Lower your fixed costs Increase your sales Increase your prices If you can't do these, you cannot make more profit. Free On-line Press Opportunities Try these websites for free on-line press: www.PRFree.com www.PRWeb.com www.MarketWire.com Back To Top 2nd Special Conference Issue Web 2.0 If you want to participate in Web 2.0, here's the recommended order according to one presenter: Website Blog FaceBook Twitter Flicker You Tube LinkedIn Today, people want to be told what your business has to offer. They don't want to have to look for this information. Ideal Customers Your ideal customers should have these characteristics: They value you Your work for them is profitable They refer you to others Hmmm.....how many of those do you have already? Effective Marketing Kits Effective marketing kits include most of the following: Business case information Explanation of your product/service Your marketing story Success stories Examples of media coverage Process maps and checklists used in the biz Client testimonials Explanation of your ideal customer Staff bios FAQ's Constantly produce and update all of this info (as best you can). Come see how we can help you compile this info. Back To Top 1st Special Conference Issue Administaff $100,000 Business Sweepstakes Visit www.Administaff.com to enter to win one of three prizes: 1st Place: $100,000 2nd Place: $25,000 3rd Place: $10,000 They'll ask you to watch a short presentation and answer 5 questions. The entries will be accepted through sometime in December and winners will be picked in January 2010. What do you have to lose?!?!? Business Plan Pro and Marketing Plan Pro by Palo Alto Software We're bringing back updated versions of both software. Please make an appointment with our office to use these programs. They're both incredible resources. We'll also have their newest product, "Start, Run & Grow Your Business" which has sample business plans, incorporation tools, business calculators, press release software and lots more! www.CrowdSpring.com Did you know that you can name your own price for creative services like graphic design and web design? All you have to do is go to CrowdSpring.com, post your project, name your price and get an average of 80 designs to choose from. Wow! Back To Top
Materials, services or products offered by providers to SBDC clients are available as a resource for you to locate professionals who can assist you with business concerns. Making these sources available to you does not imply or constitute a recommendation or endorsement by the SBDC, but is only intended to be a convenience for you. You must perform your “due diligence” by interviewing the individuals or companies to determine if they meet your needs. If you do retain their services, be sure to obtain your agreement in writing: who is responsible for what; what work is to be performed; what is not included; what is the cost. A partnership program of the U.S. Small Business Administration and the Bill Priest Campus of El Centro College, a division of the Dallas County Community College District. Funded in part through Cooperative Agreement # 9-603001-0046-22 with the U.S. Small Business Administration. All opinions, conclusions, or recommendations expressed are those of the authors and do not necessarily reflect the views of the SBA. It is the policy of the Dallas County Community College District and Collin College that all persons have equal opportunity and access to its educational programs, services, activities, and facilities without regard to race, religion, color, sex, age, national origin, or ancestry, marital status, parental status, sexual orientation, disability or status as a veteran.