5 Steps To Help Fail-Proof Your Growing Service Business

Written by Debbie Jenkins


Business startup and failure rates are scary...

In The USA...

- Every Year Over 1 Million People Start A Business

- By The End Of The First Year 40% Of Them Will Be Out Of Business

- Within 5 Years More Than 80% (800,000) Of These Businesses Will Have Failed

(Source: The eMyth Revisited, Michal E Gerber, US Department of Commerce)

In The UK...

- 2003 Saw 423,100 New Businesses In England & Wales Startup

- Over Half of All New Firms Fail In The First 3 Years

- At Least 211,550 Of These Businesses Will Have Failed Before The End Of 2006

(Source: Barclays SME Market Research Team England & Wales Statistics Based On Business Current Account Customers)

Unfortunately more and more people are being encouraged to go it alone by government agencies and banks while being given out-dated advice that doesn't actually work.

The advisors in these organisations typically have experience in larger production / manufacturing / financial businesses and share marketing advice that really doesn't work forrepparttar majority of small service-based businesses today.

Their text-book marketing principles simply do not translate to businesses with limited money to invest in advertising, direct mail and telesales.

In many cases these advisors are telling people how to run a business even though they're actually working for a bank or government agency themselves. They have no real experience spending their own money to grow a business.

Survival and inevitable success means being lean, mean and focused on getting a genuine result (inrepparttar 120237 form of profit) fromrepparttar 120238 time and money you invest.

So here are 5 tips you can use to takerepparttar 120239 power back and begin "fail proofing" your growing business today.

#1. Question "Experts" Thoroughly

Be wary of government funded trainers and / or advisors put forward by banks.

These people, in many cases, don't have a clue what its like to run and grow their own business. Make it your job to "suss them out" before taking anything they tell you too seriously.

Some questions that I like...

What's your experience of starting and running a small business?

Have you actually spent your own money trying to make a business work?

What mistakes have you made? What lessons can I learn from your experience?

Will this advice / support / idea cost me money or make me money?

Who really benefits when I takerepparttar 120240 course of action you're recommending?

#2. Model Excellent Businesses

Now by this I don't mean simply copy random things they do.

Media Kit: 25 Component Possibilities

Written by Catherine Franz


Media kits, virtual or print, include a combination of information whether created for electronic delivery or print. The number of components depends onrepparttar kit’s focus and intention. For instance, an author’s kit would include a different combination of information than a service business, or a multifaceted company or speaker.

Here is a list of component elements to pull from and tips to bring a media kit together. No single kit will need all components. Chooserepparttar 120236 components that match your orrepparttar 120237 receiver’s needs.

1. Table of Contents (TOC). Kit receivers always appreciate this feature, it respects their time. I recommend this rule: five or less pages, includerepparttar 120238 TOC in a personalized letter, using design elements such as bold, larger font or centering to set itself off fromrepparttar 120239 rest ofrepparttar 120240 letter. Six and more, use a single sheet. And placerepparttar 120241 page before all other pages, includingrepparttar 120242 letter. For electronic delivery, use color, to help gain attention.

2. Company Information. An "About Us" page includes contact information. It is also an accumulation of other aspects about that company, however, in summary format. When founded but not how founded, vision and mission, simple list of services or product or just an overall view.

3. About Our Departments. If you have several different departments in your company, you can include a page with a summary of each departments responsibility.

4. About You. Similar to number 2 withrepparttar 120243 focus on a single individual. You will want to focusrepparttar 120244 language and information to exactly whatrepparttar 120245 media needs to know. For example, solopreneursrepparttar 120246 particulars would be about you, credentials, and information with a single focus. Similar to a resume but not quite.

5. Founder Page. Do you have a company founder with an interesting story of how they startedrepparttar 120247 company? It doesn't matter if they are deceased or retired. Honor their tenacity and creativity with their picture.

6. Upper Management. It is important to stress any special skills or background inrepparttar 120248 company that is an asset. Use one page per management level or several on a single page. Several pages are okay for this section if it supportsrepparttar 120249 media request.

7. Services. One per page or several to a page. If you don't have enough material for a whole page, create enough. If more than one service, add a list ofrepparttar 120250 other services atrepparttar 120251 end ofrepparttar 120252 page to indicate what else is available.

8. Products. Use service tips above. You will want to include whatever pictures need to depictrepparttar 120253 product.

9. Employee. This component is seldom included, yet it is a significant way to demonstrate howrepparttar 120254 company’s differences. This information is aboutrepparttar 120255 staff as a whole. Presentation depends on whatrepparttar 120256 intention ofrepparttar 120257 media kit. Statistics, number of employees, tenure, company events, or community projects, work well here. Ifrepparttar 120258 statistics don't shine, don't include.

10. Company History. Adding a history can make or break media attraction. If a young company you might think it’s could be a negative element, not true. Depends on what side you are presenting inrepparttar 120259 kit. For a season company, it is a must. What prevails or whether to include or not, is how interesting isrepparttar 120260 story. If it is interesting or creates curiosity, include it.

11. Awards. Include any awards or special interests of employees. Do you have published authors in your company, an Olympic participant, or something else? Consider including. Sometimes a backdoor interest can bring media coverage in. If there is only one award you can add it on another page. To create a whole page from short information, list past winners or describerepparttar 120261 selection process. Ceremonial pictures add interest.

12. Distinction Page. This page needs to show howrepparttar 120262 company is different. Comparison charts, like those found in most software product sales information pages, are easy for readers to scan and comprehend. Graphs also work well.

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