Image

Archive for Business Building Strategies

Business Planning Essentials

business planning3 Things Your Business Plan Must Have

Businesses of every type need a business plan. Don’t think you can skip by on this important step because you offer a service instead of a physical product. Every business can benefit from a business plan.

First Step, Focus.

      • When you create a business plan you need to focus on the reasons for the business:
    • Who do you want to serve?
    • What do you want to provide?
    • When do you want to start?
    • Where will you set up shop?
    • Why do you want to start such an endeavor?
    • How will you meld all these things together to create a prosperous business?

These are the primary reasons why you’re going into business and they should always be at the forefront of your mind when making decisions.

Something else to focus on is your big dream. How much money do you want to make over the next 5 years? Do you want to sell multiple products or have several locations? Everyone’s big dream will be different but you should write it down as part of the plan.

Second Step, A Plan.

Think of your business plan as a mountain. Your mission statement is at the base of the mountain while your big dream is at the peak. Everything in between is what you need to plan and these steps should also be incorporated into a business plan.

What products do you want to create? How often do you want to produce a product? How can you implement some passive income or affiliate income into your business? Are there any speaking engagements or online summit opportunities that will expand your reach and your followers? What can you add to your sales funnel for those not yet ready to commit?

Third Step, Action Steps.

This is where your planning steps are broken down into smaller, actionable steps. Instead of just saying I want to write a book, break the process down further. How much time can you dedicate each day to writing? Do you want to self-publish or find a publisher? You’ll need to hire an editor and someone to design the cover. These are actionable steps that can easily be crossed off your to do list once completed.

Don’t be thrown off here. You don’t need to plan 5 years’ worth of action steps at one time. The idea is to plan a year at a time, keeping your focus in mind, so that the action steps become a pathway or a blueprint to your big dreams.

If this seems like a daunting task, join me on my free webinar, Why You Need a Million Dollar Plan for a Million Dollar Business. We will discuss the importance of breaking down your tasks for more effective productivity as well as how to take ACTION, which is imperative to reach any goal.

Save your spot at this link REGISTER HERE

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Business Goals First, Marketing Plan After

business goals before your marketing planIdentifying Your Business Goals First, Then Your Marketing Plan….

Before you get into marketing your business and creating your marketing plan, you need to identify your business goals. Although we take for granted that a business’s goal is to increase revenue, that’s not the end of the story and it impacts your marketing plan. There are many other types of goals companies strive to achieve. It is important that you identify your top goals prior to creating a marketing plan.  How do you market if you do not know what you are trying to achieve?  We use a simplified Strategic Planning Process for both marketing plans and strategic plans. 

Product/Service Creation

Some businesses are driven by the desire to offer excellent products or services that make life easier for all of us. Your business goal may be to create the most innovative products/services on the market. This is a wonderful goal because your products or services are at the heart of your business’s success. On the other hand, you might have these in place and that is not part of your current business growth plan.  Both are fine. You just need to be clear.

customer service as part of your marketing planCustomer Service

Your business’s goal may be to serve your customers and help them solve their problems. It may also be to lend help to the community or to strengthen the community of your customers. This is also an excellent choice because good customer service leads to more sales.
Customer Retention

Your goal may be to not only gain new customers and increase revenue, but to keep the customers you have. Businesses do this by creating a community for their customers and by remaining open to their feedback in order to improve their products or services.

Growth and Expansion

Maybe your business’s goal is to grow and expand, eventually moving into new markets and new enterprises. If this is the case, conducting market research to find new areas would be a major part of your overall strategy.  You need to be clear what markets you are entering. This market research will give you insights on how to market to this new area as well.

marketing planEfficiency

A major goal for your company may be to tighten up your processes. This might include challenging your salespeople to reach an ever higher sales ratio or streamlining your shipping in order to reach your customers more quickly. This was the primary goal for one company that we worked with.  The CEO wanted a “well-oiled machine”.  It is a great goal for growing your company as well. When you have clear operations and plans are outlined and in place, then you are ready to bring on new staff, grow and expand.

Changing the World

Some companies have as part of their vision to enable social change. Your goal might be to make the world a better place through the use of your products and services. This is a goal for many companies that produce environmentally-friendly products marketing planor work to streamline their operations so that they’re more ecological. Here at Compass Rose Consulting we achieve this through the work that we do with women entrepreneurs.  By supporting other programs for female entrepreneurs as a give back we continue to expand our impact locally, regionally and globally.

Increasing revenue and profit isn’t the only goal of most businesses. Look at your business currently and ask yourself what other goals you have. This will help you as you plan your marketing.

Learn more about our Marketing Plan Planning Session –>> CLICK HERE

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Why Business Blogging

Why Business Blogging Should Be Part of Your Marketing Plan??

There are some really good reasons to include business blogging in your marketing plan. It remains an important strategy that should not be ignored or neglected.business blogging

Marketing plans come in all shapes and sizes. The right marketing plan for your business depends on many different factors. But one thing all businesses have in common is that they can benefit a great deal from blogging.

Blogging is a tactic used in content marketing. When you write a blog, you publish a steady stream of fresh content. This content draws traffic to your site and earns new readers, while also building a relationship with the readers you have.

Business Blogging Is Simple but Effective

Many small businesses don’t want to blog because it’s ‘writing’ and you’re not a ‘writer.’ But blogging is extremely simple. This is why it makes a perfect element in an online marketing plan.

Blog posts can be as short as 300 words or even less, but generally I recommend 400 words. They can include videos and images. Each post can cover one simple topic and the writing doesn’t have to be magazine-grade. Write in a conversational tone like you’re talking to a friend and proofread so that there aren’t any grammar or spelling mistakes. The thing is that you ARE an expert in your field. You have knowledge and expertise that you can share.

The way to blog headache-free is to set aside a little time each week to write and post. Carve out an hour or so to write something and post it. If you have a team member who can write well, delegate the task to them.

How to Get Ideas for Business Blogging

The other trouble many people have when they start blogging is where to get ideas. Here are some simple places to get ideas for your blog posts:

 Answer questions customers often ask
 Teach readers how to do something simple step by step
 Discuss news, current events or hot topics on other blogs
 Answer questions from forums, Q&A sites like Yahoo Answers, social media or blog comments
 Start by looking at popular keywords and write blog posts around them.

Keep an idea file. Spend some time brainstorming topics at first and then add to it whenever you get an idea. Whenever you need an idea, refer to this file and start writing.

Working a Business Blog into Your Marketing Plan

Decide what topics your blog will cover and at what frequency you’ll write and post. If you add a blog to your website, you’ll boost your site’s SEO and give visitors more to do there. You can also use your blog’s analytics and its reader comments to learn more about your target market and its tastes.

Blogging can become the HUB of your marketing plan, bringing traffic back to your website.

Think about it.  If you have questions?? Reach out!!

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Is there LOVE in Business or Education?

Could LOVE be the answer?

The end of the school year is here and I have been thinking a great deal about our education system and its impact on our children.  It is not all good.

I have been having so many thoughts about education and educators as we navigate the last days of the school year.

As a parent, we have spent a great deal of time working  with our daughters on their goals through education.  With a Master’s in Education myself, I have a bit of background.  My perspective definitely changed with children. But I think I always worked and managed with heart or good intent.  A wise young woman that worked with me at camp always said to “assume the best first.”

Yes, some wonderful things have happened for my children and those of our friends, but it has not been without challenge and some damage along the way.

I believe that education should be a ‘Do NO Harm’ profession.  But I know that historically and currently there are educators that do great harm to the children in their care.  As a parent, it is horrifying to watch and challenging to figure out how to prevent it, confront it and resolve it.

I’ve been reading a new (to me) author, Rivera Sun.  Her books each focus on non-violence, non-violent resistance and love; even radical love.  She has me thinking and reflecting about myself and how I interact with people and also how the schools are interacting with my children.  What if we all started from a place of radical love?  What would change?

I think about this in business as well.  What if we each were driving our businesses from a place of radical love?  How would that shift your business?  How would it change who you served, how you served them and even who was attracted to your business?  It seems like it could be really good.

How do we each communicate?  Do we start from a place of love or somewhere else?  I know for me, sometimes, I am reacting to something and it is emotionally charged.  But what if we each stop and breathe first, go to our heart and then start?  What changes in how we are doing our business or education? Does it change how we see things?

I did a webinar a month or so ago on heart felt marketing and I talk regularly with people about loving your marketing (a real challenge).  But what I am talking about right now, is going even further — loving ourselves, our business, our customers, our kids.  If we operate from a place of love, we can change the world.

So, how do you use LOVE in your conversations?  Do you start there?  Are you like me, and need to concentrate on this a bit more?

What would change in your life or business if you started from a place of love and stayed there throughout your interactions?

Thanks for reading my ramblings here today…. join the conversation about love — love in education, love in business.  Let me know YOUR thoughts.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Socially Responsible Business

Being a Socially Responsible Business is becoming more and more important.

Neilson recently talked about the impact of being a socially responsible business or company, and doing good beyond your products or services and the impact that has on your bottomline.

socially responsible business

Your Business Operations Can Impact Your Results

How do you change your business so that you are operating in a socially responsible way?

Consumers have said and have demonstrated that they will pay more for products that are Fair Trade, Organic, Socially Responsible in their production.

Your organizational values are one thing, but it is more about living those values publicly that is on the line.  People are observing HOW companies practice their values.  When companies take a stand that can have a direct impact on that bottom line, both positive and negative.

In the recent Neilson article, their observation is that social responsibility has moved beyond environmental issues to being a good corporate citizen.  This is critical.  It may be that while the new administration eases regulations, that people will demand they be observed anyway.  People do not want coal companies dumping waste into their water.  People do not want BIG banks investing in a pipeline that potentially can pollute waters.  People are making their voices heard through social media and through the effective use of hashtags on social media.

What is a Socially Responsible Business?

According to Investopedia.com:

Social responsibility is the idea that businesses should balance profit-making activities with activities that benefit society; it involves developing businesses with a positive relationship to the society in which they operate. The International Organization for Standardization (ISO), emphasizes that the relationship to the society and environment in which businesses operate is “a critical factor in their ability to continue to operate effectively. It is also increasingly being used as a measure of their overall performance.”

How does this impact your small business?

This can have a tremendous affect both positive and negative on your business.  If your company is reaching out to the community and doing good in the community, people notice.  If at the same time, your company is polluting and dumping toxic waste, that is going to override all the “good” that the company is trying to do.  The two are out of alignment with each other.  You need to operate in alignment with your company values and those need to be in alignment with the good of the community and the world.

  1. Look at your company values and see if there are ways that you are out of alignment.  Values are typically an ideal that we strive for and that we do not always achieve successfully all the time. But now, it is time to do a check –> a values alignment check.
  2. Decide on a plan to improve your alignment and take it a step further.
  3. Can your company join thousands of others in a movement of social responsibility?  What would that look like for your company?  There are probably some quick things that you can do right away:
    1. Look at your operations — how can they be more sustainable, earth friendly — can you increase recycling programs, eliminate the use of styrofoam cups, eliminate the use of disposable cups for coffee, buy bio degradable disposables for your cafeteria, use recycled paper, decrease printing and use more digital….Join Green America and become a certified Green Business.
    2. Look at your banking — can you switch from a BIG bank to a credit union or community bank?
    3. Look at your employees — are you paying a fair wage, can you improve your workplace, what are your employees passionate about?
    4. Look at your business model — is there a way to incorporate your social causes into your business model?  Can you give one for one? Or can you set up a donation model? Can your customers participate in that model?  Choose a place for a portion of profits to be given?  Is there an organization that fits with your company mission?

    There are so many ways to change how your company operates and make more of a difference in your community and the world.

    Here are a couple of examples —

    There was the story of Rosa’s Pizza in Philadelphia that was giving away free slices of pizza to the homeless.  That story shared on Upworthy in 2015 had such an impact on people that it was shared over 800,000 times and increased their business and their giveaway tremendously.

    Recently, on CBS Sunday Morning — they shared a different business model in which a local brew pub opened as a non-profit and donates money from each brew served to one of six rotating charities. Customers get to choose which charity they are supporting with their purchase.

    And there are movements to change how companies operate.  Chocolate — largely harvested in African with child slave labor — women around the country have been campaigning for big chocolate companies to stop buying chocolate that is not Fair Trade, and they are having an impact.

    Much of the work that I have been doing over the past weeks has been to raise our social consciousness at Compass Rose Consulting and identify ways that we can improve operations as outlined above and make more of an impact on the community and the world.

    These changes while still very much under construction are improvements to a foundation that already existed and is being improved and revised as the year moves ahead.  I am adding resources for you that you can access — about operating in more socially responsible ways.

    We will be adding to these and sharing more each week on how to achieve these types of goals!

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Social Entrepreneurship Action Plan

social entrepreneurship action planOur Social Entrepreneurship Action Plan:

As we move into the new year and new world order we are focused on social action and social entrepreneurship. Not a new idea to me or to the world, just more urgent feeling, at least for me.

I have been journaling for several weeks now and this is all emerging as a result of that work and a course on social entrepreneurship that I have been participating in.

Social Responsibility has always been on my values statement along with environment.  But I haven’t had a solid plan for how it happened or what it looked like. In reviewing my vision for Compass Rose Consulting and our direction this year, it had to focus on the world and being a catalyst for change and improvement in some way.

At the same time, I didn’t want to start a new business or create something totally different from what I have been doing.  Business coaching/consulting, work with non-profits, leadership development, marketing, meeting facilitation and team building — I am good at.  I wanted to take what I have and make it work for me and for clients in a new and inspiring way.

You can see that I have totally shifted my brand colors to Gold and Purple.  Very intentional.  They are colors that represented strong women throughout the Suffragist Movement for women’s right to vote.  They represent strength for me and commitment.  As I was putting together our strategies and model I also came up with this image.  It boils it down to simple.

It starts with our programs — they focus on education for our clients — through our online portal — filled with resources on business development and for some that opt for more — coaching and consulting, collaboration and masterminding…. are added.  The program – The Women’s Business Circle is powerful and comprehensive.  Besides training it incorporates the rest of the plan…

Inspiration — my goal is to inspire our clients to create a Social Entrepreneurship Plan for their business.  We review several different models that they can adopt. Each business might do it differently.  Actually, they all will do it differently! And that is great.  Through our collaborative meetings, each member is inspired by the work that other members are doing.  As well as the impact that being a member is having on other entrepreneurs… because

Giving Support is our next strategy.  Compass Rose Consulting’s plan is to provide support via non-profits to women entrepreneur’s.  We are doing this in a couple of different ways — first is through a scholarship fund to the Women’s Business Circle, to support women in need on their entrepreneurial journey.  We have also identified three non-profits that work directly with women entrepreneurs that we will provide funding to, from our profits.  Social Entrepreneurship does not mean that you are not making money.  Developing a thriving business is a key to making it personally and then being able to support other people on their journey.  Our plan is to use part of our profits– money after expenses to support these different ventures.  Because I wanted a global reach — we are supporting micro-loan programs for women that provide loans in this country and internationally.

Outreach- Women’s Business Circle ties it all together really.  We will be doing outreach in several different ways.  First, through articles and press releases, we will be able to reach out beyond the Compass Rose Consulting community.  My next book will also focus on this — social entrepreneurship and its impact on the people doing it as well as the people it reaches.  We also plan to do retreats and service throughout the programs… more ways for people to be involved but more importantly is that they are ways for people to touch other people’s lives.  It is through this heart to heart connection that real change can happen, because it starts happening on a personal level for each person and then moves out from there.  Again, a cascade.

Outreach leads back to education and the cycle begins again.

compass rose consulting new logoYou also see the heart at the center of the compass.  This is a new part of our logo.  The center of the compass is called the compass rose.  Thus the name Compass Rose Consulting.  The compass rose is what is found on maps to help you orient the map. It is also the center of the compass — which helps you find your direction.  At the center of our compass I have added the heart because it is what should be guiding our direction.  We should move in business with heart, with compassion.  We have core values to help guide our decision making and they all matter, but at the center is our core purpose and the core of business — the heart.  The new rings around the compass are symbolic as well.  They represent the cascades of outreach. They are diverse in color, because the world is diverse. We treasure that diversity.  And the outer ring is the newest — green to represent the earth and our need for commitment to operating our businesses in earth loving ways.  I have also used the different colors in the to represent the different levels of service, so they each have multiple meanings and metaphors….

It is exciting to move Compass Rose Consulting forward in this new way.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Web Apps

We work with clients big and small across a range of sectors and we utilise all forms of media to get your name out there in a way that’s right for you.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Why Choose Us

We work with clients big and small across a range of sectors and we utilise all forms of media to get your name out there in a way that’s right for you.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Our Latest Works

We work with clients big and small across a range of sectors and we utilise all forms of media to get your name out there in a way that’s right for you.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Our Process

We work with clients big and small across a range of sectors and we utilise all forms of media to get your name out there in a way that’s right for you.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.