4. Gather industry data. Lenders and investors have access to financial ratios. Ratios are difficult or costly to obtain for some types of businesses. Sample financial statements are more easily found. So, find several that have revenues and expenditures similar to your venture and calculate averages for your own ratios. Gathering extensive marketing information on your potential competitors and for your target market requires a lot of preparatory work. Your readers will expect your data to be cross-referenced and full explanations for any abnormal ranges. If your research requires you to have Standard Industrial Codes (SIC) get them at http://www.osha.gov/pls/imis/sicsearch.html or http://www.census.gov/epcd/www/naics.html.

5. Perform "what-if" experiments on spreadsheets to find best presentations of tables and charts for cashflow projections, break-even estimates, product life cycle, market segmentation, implementation schedules, training programs and all other ingredients ensuring success of your venture. Accuracy and readability improve with each reiteration or rewrite.

6. Begin your networking by joining and attending appropriate associations and trade fairs. Ask about or just listen to many problems being shared. Arrange meetings with as many people you know who are familiar with businesses similar to your venture.

7. Meet with a lender or investor for advice. Try to determine their expectations for your venture and for content of your plan. Ask for any booklets and their networking suggestions. Do same with experienced borrowers.

You will appreciate benefits from your due diligence on these preparations. May writing of your business plan be less daunting. I wish I could tell you it will be a "piece of cake."

When you set your public relations goal, remember that you need one that addresses problems that appeared during your key audience perception monitoring. Probably, your new goal will call for straightening out that dangerous misconception, or correcting that gross inaccuracy, or doing something about that awful rumor.

As day follows night, goals need strategies to show you how to get there. But you have just three strategic choices when it comes to handling a perception or opinion challenge: create perception where there may be none, change perception, or reinforce it. Unfortunately, selecting a bad strategy will taste like anchovy paste on your scones, so be certain new strategy fits well with your new public relations goal. For example, you don’t want to select “change” when facts dictate a “reinforce” strategy.

How you structure your corrective message is crucial because persuading an audience to your way of thinking is awfully hard work. Especially when you’re looking for words that are compelling, persuasive, believable AND clear and factual. Hard work, but a must if you are to correct a perception by shifting opinion towards your point of view, leading to desired behaviors. Review your message with your communications specialists for its impact and persuasiveness.

Sounds obvious, but in order to carry your words to attention of your target audience, you need to select precise communications tactics most likely to reach them. Fortunately, you can pick from dozens of available tactics. From speeches, facility tours, emails and brochures to consumer briefings, media interviews, newsletters, personal meetings and many others. Be darn certain that tactics you pick are known to reach folks just like your audience members.

When you think about it, credibility of your message can depend on how you deliver it. So, try introducing it to smaller gatherings rather than using higher-profile communications such as news releases or talk show appearances. Before long, you’ll need to produce a progress report, which means it’s probably time for you and your PR folks to get back out in field for a second perception monitoring session with members of your external audience. You can use same questions used in first benchmark session, but now you must stay alert for signs that your communications tactics have worked and that negative perception is being altered in your direction.

If things aren’t moving fast enough for you, matters can always be accelerated with a broader selection of communications tactics AND increased frequencies.

Because people act upon their perceptions of facts they hear about you and your operation, you really need a public relations blueprint like this. Reason being you have little choice but to deal promptly and effectively with those perceptions by doing what is necessary to reach and move those key external audiences of yours to actions you desire.

end

Bob Kelly counsels, writes and speaks to business, non-profit and association managers about using fundamental premise of public relations to achieve their operating objectives. He has been DPR, Pepsi-Cola Co.; AGM-PR, Texaco Inc.; VP-PR, Olin Corp.; VP-PR, Newport News Shipbuilding & Drydock Co.; director of communi- cations, U.S. Department of Interior, and deputy assistant press secretary, The White House. He holds a bachelor of science degree from Columbia University, major in public relations. mailto:bobkelly@TNI.net Visit:http://www.prcommentary.com

Bob Kelly counsels managers about using the fundamental premise of public relations to achieve their operating objectives. He has been DPR, Pepsi-Cola Co.; AGM-PR, Texaco Inc.; VP-PR, Olin Corp.; VP-PR, Newport News Shipbuilding & Drydock Co.; director of communi- cations, U.S. Department of the Interior, and deputy assistant press secretary, The White House. mailto:bobkelly@TNI.net Visit:http://www.prcommentary.com