Control your destiny

Now that I am at the end of my educational journey with Full Sail University, my final business plan is due.  I have worked on my plan for one year now and I can honestly say that it is nowhere near completed.  Of course, I have turned in a plan but there is something I learned more valuable. What I mean by that is, after researching certain aspects of my plans, things seem to have changed from my original plans.

I did included my original plans in the blueprint but I am now seeing that maybe certain ideas and key concepts may not work as well as I thought they would for my particular market. Researching the market and how they spend their money has been eye opening for me. I had to ask myself questions like,  “Will I really have enough customers to open my doors?” I think it is a good idea, but will my target market think so also?

I want to start a business to fill a need that I feel is needed in my particular market. What I need to realize is that there may be others out there who have the same passion but may not have the funds to invest or even the time to participate.

I see that once you go through this process it is easy to become discouraged and down trotted about your ideas and plans. Your research my show that starting your business at this time may not be best. Maybe six months from now will be a better time to start the business that you want.

How I feel now, is that I have the drive to learn more about my market and how to tailor my plan to provide for their needs. I now know that my ideas may be a good but the “package” may not fit best for whom I want to serve.

This leaves me with a feeling of excitement and anxiety. I now feel that I am getting to know whom I want to help and exactly how I can do that and still make the money that I want to.

Business plans are not ever going to be written and then put into a drawer. Your mission and company purpose may stay the same but adapt. Timely adaption is how companies thrive and survive. I just hope that I am able to recognize the shift in my audience and remain current and relevant.

 Thank you, 

Enrika M. Sissle

To control your destiny

Developing my 60 second elevator pitch

In my last blog, I told you briefly about a business expert that I have recently found. His name is Tim Berry. The reason that I like Tim Berry is because I see his passion in his YouTube videos and I hear his experience, but mostly I trust him.

While doing research for this blog, I found his video on the “60 second pitch.”  I felt that this was something that I needed to fine tune and really develop. This blog is based on something that I plan to incorporate into my business and put it into my plan.  Having a pitch will give a listener a sneak preview of who and what my company does. Then I can have an opportunity to give them the figure and a more detailed description and vision by submitting my business plan later.

I am asked often what my business is about and to be honest, I tell what it does but not who we are. I feel that is a missed opportunity to sell my vision and plan.  This pitch will them help me change and fine tune my mission, description and goals in the plan.

Berry breaks down the 60-second pitch into four parts. Within those four parts there are goals that must be accomplished before moving onto the next. So, equally each part is 15 seconds. Those parts are, The Story, The Solution, The Difference and The Ask.  Let’s explain each one.

The Story

The story is designed to pull your listener in. You have to tell them why you felt the need to do something. Tell them why you felt the need to create. Berry explains that this is the time to give examples and a name to go along with the story. You want to create a sense of empathy and compassion. This allows the listener to open up to receive the next part.

The Solution

After the story, you want to tell the listener how your company can help the person in “The Story.” How exactly does your service and/or product solve the issue of the person in the first section? Do you make life easier? Do you create a new life for them? How does your product or service create a better life for that person and therefore others?

The Difference

A well-known book says, “There is nothing new under the sun.”  I do believe that. So you have to tell that listener, why and how are you difference from the other companies that are out there doing what you do. Is it your training? Your technology? Tell them the difference.

The Ask

Tell them briefly about the business here and then hit them with, ‘The Ask.” There is a reason why you are telling this particular person or crowd. What do you need from them to help your company? This is the time to express your need.

The pitch explains the, “Why” about your company. I believe that this is the most important section of your business plan. Your mission is important. You may think that it is just a few sentences, but ultimately your mission defines your goals, wants and plan.

Developing your pitch will put into words what you really want to do.

Resources:

http://timberry.com

http://www.entrepreneur.com/author/197

http://www.linkedin.com/in/timberry

http://youtu.be/_PUBulGR42o