Value Proposition

What it is

Why you need one

While we live in a place many call Paradise, in South Florida. Business is not a “Field of Dreams”. The tag line from that movie: “Build it and they will come” is not enough to make a viable business.

 

YES, you need a Product or Service. But also YES, you need to reach prospective

CUSTOMERS with a description they will comprehend.

A Value Proposition (VP) is a compelling statement of the benefits a customer will get by purchasing your product or service.

If you do not have one that resonates with potential customers, you will not have a customer. No customers = no business!

To resonate, the VP should be described in terms the potential customer easily understands. It tells them you know who they are, what they want, need or could use.

Your VP should be visible, front and center and repeated throughout the marketing & sales material - on-site, on-paper, and online.

It should tell prospective customers why they should buy from you instead of the competition.

What is your experience?

 

Steve Koenig, SCORE Counselor,

Visit us at: www.scoresouthflorida.net

South Florida Loves Boca SCORE and Why You Should Too

 

As a volunteer organization with 49 years of service to the nation, SCORE proves the notion that advertising works and no advertising doesn't work well. Millions of Americans are still unaware in 2013 of the incredible service this proven business source provides. Just read the following and we think you'll get the picture...............

 

SOUTH PALM BEACH SCORE is here to help you Succeed in Business       (and here's how we do it) Pro Bono Business Coaching: face to face, via email, telephone, IM, or you can choose the method, even at your place of business Low cost workshops and seminars on vital business topics. Two monthly free roundtables-one for women in business and one learning technology for your business. A dedicated team of specific industry matched Certified SCORE business coaches, to work with you one on one, pro bono, as long as needed. Free Quarterly Advisory Board for selected businesses High level tech assistance from an industry guru/owner/advisor to 8 web businesses and a SCORE team of certified tech specialists Did we say all mentoring and coaching is free? It is. So what are you waiting for? Click here https://www.edmisscore.org/0412/ to register for counseling right now. Your success may depend on it.   Still Haven't Made Up Your Mind? View our staff and decide if we are for you (Click here "http://www.scoresouthflorida.net/counselor_profiles.htm"  to view "Counselor Profiles") Saturday Appointments Available THE BALL IS IN YOUR COURT What have you decided to do?   SOUTH PALM BEACH SCORE TWICE VOTED THE #1 SCORE CHAPTER IN AMERICA (among 348 Chapters, latest in 2012) (561)981-5180     South Florida SCORE | | http://www.scoresouthflorida.net SCORE South Florida 7999 N. Federal Highway Boca Raton, FL 33487     Copyright © 20XX. All Rights Reserved.

 

Web Site - a marketing or sales tool?

What is the difference? you ask.

Wikipedia defines each as follows: According to the American Marketing Association, "Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." It is a critical business function or process that is responsible for attracting, retaining and growing customers. A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity.

Marketing is what you do to reach and persuade prospects. The sales process is what you do to close the sale. They should be balanced for business success.

Are you clear about the goal of your web site? What do you do to retain customers?

What do you think now?

Steve Koenig, SCORE Counselor,
visit us at: www.scoresouthflorida.net

Save Your Business from Disaster

 

If your business functions when your competitors do not…you have a Competitive Advantage. Have you thought about this?

Do you know how to keep capital flowing through your business during and after a disaster. Have you thought about this?

If your answer to the above questions is no, you are likely to be among the businesses that will not survive after a disaster.

Now that I have your attention and you have thought about these questions, what should you do? The answer is…it depends….

It depends on what your business is, what your business needs, how important each of those needs is to survival, how you prepare, and how you execute your plan.

Let’s try a few examples:

Your business loses power for a day or two.

All your records are on a computer that is burned in a fire.

Your backup records are a week old and in your basement…the fire destroys them.

Your backup records are on media stored in the same town, when the flood comes.

Your key supplier or your bank gets hit with a major storm.

Your remote backup site is shared and you are low on the priority list.

Your real time “Cloud” stored records are kept where a hurricane hits.

 

Without customer, supplier and banking information each day, your business fails.

You can do without daily personnel records, but must pay employees each week.

 

So you need to invest time to do some analysis, create a plan and practice, update, practice, update, and practice.

I hope I have stimulated you to pay attention now!

Share your examples here.

More on this at the South Palm Beach Score Business Conference on April 20, 2013. See my session at the event. See the event notice for more details.

Steve Koenig, SCORE Counselor

Visit us at: www.scoresouthflorida.net

BUSINESS PLANNING - THE ROADMAP TO GROWTH

In small business, hardly two other words promote fear and procrastination more than “business plan”.  It is often considered as an interruption to the day to day tasks of running a business; or, too difficult to contemplate.  When entrepreneurs think this way, they are on the road to problems. What is often missed is that the business plan has two primary functions (among several others)—to determine how much you know about your business; and, what you don’t know.  To skip the essential process of preparing a business plan exposes you to tactical or “crisis” management—doing tomorrow based upon what you just learned today. It is the roller coaster method for managing a business, and may be part of the reason why 4 of 5 new businesses fail.

This type of outcome is not inevitable.  A well-constructed plan can not only avoid the hazards of tactical thinking.  It also provides a road map to a more successful outcome.  The process of preparing a plan leads the business owner to examine all facets of the business, ask all of the questions that lead to strategy development, and produce an organized approach to the future.

HINT:   A business plan is not a static document meant to be done once, then gather dust in a file drawer.  The obligation to review and periodically update the document forces the discipline to really look at what you have done, compare it to your expectations, and take corrective action.

Carl Isbits, SCORE counselor.  email

Visit us here

Make a customer not just a sale

There is a big difference between "making a sale" and "making a customer".   If you don't achieve the latter, you won't, in the long run, build your business.  After all, you don't want to always have to make that 1st sale over & over again.   You want to make sure your buyer will find VALUE in the transaction and BENEFIT from your product(s).  If this comes about from THEIR PERSPECTIVE they will want to continue doing business with you in ever increasing volume & cooperation..

That means you must UNDERSTAND your customer, their NEEDS, and fulfill in a way which converts that customer into a "brick" in building THEIR success.   It is a TWO WAY street when marketing.   You do need to meet your sales goal, yet understanding the customer is to have them become your ally in the marketing of your product.

So THINK TWICE how you promote your product.   Orders only on their own just for the sake of getting that order, often lead to dead ends.   But if you evaluate your customer's NEED BENEFIT and VALUE from the CUSTOMER'S POINT OF VIEW,
a long term relationship will develop resulting in growing future business volume.

HINT:   Picture yourself facing the customer across a table.   You are selling & he's buying - maybe.  You and the customer are on opposite sides of the table.   Now, try to picture yourself on the same side of the table, sitting next to him.   Now suddenly you are his ally,  his "partner".    That's the psychology you should project.

VISIT US HERE: 

2012 Tax Changes for Business

Whether you file as a corporation or sole proprietor here's what business owners need to know about tax changes in 2012.

Standard Mileage Rates 
The standard mileage rate in 2012 is 55.5 cents per business mile driven, 23 cents per mile driven for medical or moving purposes, and 14 cents per mile driven in service of charitable organizations.

Health Care Tax Credit for Small Businesses 
Small business employers who pay at least half the premiums for single health insurance coverage for their employees may be eligible for the Small Business Health Care Tax Credit as long as they employ fewer than the equivalent of 25 full-time workers and average annual wages do not exceed $50,000. The credit can be claimed in tax years 2010 through 2013 and for any two years after that. The maximum credit that can be claimed is an amount equal to 35% of premiums paid by eligible small businesses.

Credit for Hiring Qualified Veterans
The maximum credit that employers can take for hiring qualified veterans in 2012 is $9,600 per worker for employers that operate for-profit businesses, or $6,240 per worker for tax-exempt organizations. See Tax Credit for Employers Hiring Veterans This Year (below) for additional details on this tax credit.

Section 179 Expensing 
In 2012 the maximum Section 179 expense deduction for equipment purchases is $139,000 ($174,000 for qualified enterprise zone property) of the first $560,000 of certain business property placed in service during the year. The bonds depreciation is 50% for qualified property that exceeds the threshold amount.

Please review our website if you need further help.