By Liz Uram
In working with a new client on her business plan recently and brainstorming about how she would describe her business, we discovered that ‘charming’ was a perfect description. As simple as a word as that is, it was not easy to nail down. By listening to the client, asking lots of question, and deep digging, it became clear that it was the perfect word.
In retrospect it was kind of obvious but seldom do we, as entrepreneurs, take the time to get that focused on how we describe our business. This story is important for a few reasons:
1) This one-word description will be the basis for creating consistent marketing materials that convey the personality of the company and what the company offers. Think of Apple, what word would you use to describe them? Many people would say innovative. It’s a fitting word and it comes across in their marketing. Disney is described as imagination and it shows. Maybe you think it doesn’t matter because your company is just you. I would argue that having a strong brand matter even more to the solo entrepreneur. Your marketing materials should work for you and the more you can convey the message of your offer through your marketing the less work it is for you.
2) This example illustrates the benefit of having an objective outside opinion from someone who can ask questions that get to the root of the matter. It is very difficult to be objective when you are dealing with your business because you are just too close to it. Someone who is trained in the art of asking the right questions can make all the difference in the world. Consider the money you spend on getting this clarity should be considered an investment in your business rather than a cost. Remember, investments have the potential of gaining a return whereas costs are just money out of the account.
3) This exercise demonstrates the value of creating a business plan. This exercise comes out of the very first pages of plan and it will play a critical role in the success of the company as it unfolds. Too many people skip over the first section of their plan covering the general company overview. Questions like ‘why are you in business’ and ‘describe your business’ just seem too obvious and are glossed over. That is a big mistake. You will be surprised at the information you will uncover by digging into these questions.
This is a surprisingly difficult exercise but the payoff is huge. It may not be apparent immediately, but it will make future decisions easier because now there is a reference point. For instance, my ‘charming’ client has a product that will sell well at an expo so she is thinking about what her booth should look like. Don’t you think it will be important that she choose materials that support her brand and image? If you were to describe your business as cutting-edge, what type of marketing materials would best support that claim? Do you think cardboard display boards with signs printed from your home computer are going to convey that image? No way. The brand and image you present matter. And it all starts with one little word. My encouragement for you is that you put some thought into what you want to represent and then review your marketing materials to see if that is what you’re doing. Remember, you can achieve whatever you believe as long as you are willing to work for it!
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