New Biz BUZZ: Find Out What’s New In Business Innovation

What's new in business ideas?

Photo by PhotoStock-Israel

Business never stops. Competition is everywhere but as owners, you have to make time to find out what companies are finding success whether they are your competition or not. You can and will find inspiration in the most unlikely places. But you can’t overlook the most likely ones such as the top business ideas and opportunities featured in various publications online and available at your fingertips 24/7. To get you inspired and ready to find new ways to better your business and help your customers better theirs, here are some innovative ideas that are making their mark in the business world.

Clothing Company Rewards Online Fanbase

One company is taking advantage of its online fanbase. Spanish clothing brand, Desigual has launched an effort to reward its fans for being kind to bloggers online. Desigual fans interested in participating begin by signing up with its “Happy Hunters” site and indicating which item from the Desigual line they’d like to receive as a reward. Then they wait for Desigual to alert them to a particular blog post (not Desigual’s blogs) to target with their positive feedback. Once that happens, Happy Hunter members post their cheerful words on the specific blog, and the first 100 to get a reply from the blogger win the clothing item they picked. All Happy Hunter members also get a discount of 20 percent on Desigual.com.

Japanese Business Ups the Ante of “FREE Samples” Concept

Who doesn’t like free samples? Free Café Harimaya Station, offers a variety of free drinks and snacks to anyone at any time. Free Café Harimaya Station is the brainchild of Harimaya Honten, maker of traditional Japanese rice crackers. With seven locations already established in major shopping areas nationwide, the Free Cafés serve up freshly roasted and brewed coffee, tea and roasted green tea to their patrons for no charge, along with the traditional rice snacks for which Harimaya Honten is known. The only stipulation is that those who receive free samples give back to others through respect being courteous to one another. More to the point from a marketing perspective is that the ‘FREE Samples’ help the company increase awareness of its products.

Card Rewards Consumers Who Buy Locally

Some 50 locally owned Portland-area businesses are part of a rewards program called, Supportland. Using a free card, consumers are rewarded with points every time they make a purchase at one of those businesses. Consumers can then use the points toward the purchase of specific products or services at any of the participating businesses. Following its official Portland launch in January, Supportland hopes to expand across the US, with points transferable among regions. The entire infrastructure has been packaged so that it can be completely re-branded wherever it’s implemented. An iPhone application is also in the works.

If you know of an innovative business idea that deserves recognition, submit your information to be considered in an upcoming feature.

New Biz BUZZ: Smart Ideas for Business

Smart business ideas are available any and everywhere. But with any business executive’s daily schedule, it can be challenging, at best to keep up-to-date with new ways to promote your company, along with your products and services. Additionally, keeping up with the latest technological advancements or useful gadgets, saving your business time and money is a never-ending battle.

So, here’s what’s happening in the world of new business ideas, what I call, “New Biz BUZZ,” to keep you current and keep you thinking when it comes to growing your business success. All ideas may not be ripe and ready as they are to use for your business needs. But the concepts should give you something to think about and consider.

Map Envelope
An out-of-the-box and inside-the-envelope idea, graphic designer, Beste Miray, based in Istanbul, Turkey took Google Maps’ ability to showcase any geographic location and lined an envelope with it, when sending a letter to a friend. Now, a New York designer has taken this same idea and launched a web-application for it. Called Map Envelope, just select your location, type in a message and print out a customized envelope.

‘Dead Drops’
‘Dead Drops’ is an anonymous, offline, peer-to-peer file-sharing network in public space. Aram Bartholl, a Berlin-based media artist began developing ‘Dead Drops’ in October 2010, while he was an artist in residence in NYC. Aram is ‘injecting’ USB flash drives into walls, buildings and curbs accessible to anybody in public space. Five locations are already available in NYC.
NOTE: Malware and other concerns are addressed for your consideration at the ‘Dead Drops’ link provided in the comments section.

DeadJeans Reborn as Smartphone Cases
If you’re having a hard time letting go of your favorite pair of jeans, fear not. A Paul Kruize design, ‘Deadjeans’ is a Netherlands-based business that converts your old jeans back pockets into your very own smartphone case. Made for iPhone 3Gs, iPhone 4, the BlackBerry Bold 9700 or any phone that fits within these dimensions, simply follow the instructions provided and send in your jeans back pockets. What you will get in return is a smartphone case, customized for you with its own serial number and a felt lining to prevent phone screen scratches.

Have a unique and smart idea for business? Send it in for consideration to be shared with business owners, executives and more to help save time and money in day-to-day business.

New Business: It’s A Full-Time Commitment To Your Brand

Taking the time to develop a new business department is essential within an ad agency. But don’t expect results if you leave the department without someone to handle the day-to-day management of new business. Gaining new business takes the dedication and day-to-day focus of at least one full-time employee. Unless you are seeing new business walking in the door daily, you need a concerted effort applied toward connecting with the right target market most likely to need your products and services.

1) It’s hard to grow much of anything with so many weeds.

a.) Keep your information current on all of your prospects in some database that provides easy access and organization

b.) Make sure you don’t let an important follow up call slip because your new business department lacks discipline

2) Focus on your strengths – if you don’t have tangible results and experience within a specific industry in which you are pitching for business, you’re more likely to be wasting your time as well as that of your prospect.

3) What’s your differentiation? Why should your new business prospect consider doing business with you when there are plenty of agencies out there? Whatcha got that makes your agency so special or better than the rest?

4) Don’t lose sight of what you already have in-house. You shouldn’t be spending all of your new business efforts looking outside of your own company. Review your current clients and take time to see how else you can serve them with richer, strategically-sound marketing solutions. Not only does this show your current client that you keep them top of mind but it may keep your client from wandering off looking for another agency of record.

5) Who is your company and what does it offer? Develop a positioning statement that all employees know and that succinctly specifies what your agency is and what it offers. This way, any time or any where one of your employees are asked where they work and what they do, there is an answer that sells your ad agency and builds brand awareness.

Consider using Proctor & Gamble’s classic positioning structure to develop one for your own agency. To do so, review the following sentence and place a word that best represents your business to replace the words underlined.

P&G Template #1:

FOR your audience, your product name IS A category name WHICH PROVIDES main benefit UNLIKE OTHERS WHICH PROVIDES competitor’s main benefit.

P&G Template #2:

OUR offering IS THE ONLY category THAT benefit.

Now, when any of your employees are out and about, if someone asks them where they work and what they do, they can provide the filled-in and company-approved version of P&G Template #1.

It’s either having consistent messaging regarding your company’s brand, offerings and differentiation OR your employees can say they work at an ad agency.

Which do you think is better for business?

Wondering Where The Business Is? You May Want To Check Your Business Plan.

http://www.bing.com

Though the economy is still in the recovery mode, your business methodology should not be. If you have been wondering where the business is, consider reviewing your business action plan to make sure you haven’t gotten off track but are still focusing on the business you want the most that fits with the products and services you have to offer. Remember, even the basics of growing new business are just as important today as they were when you first developed your new business plan.

Business Development Basics:
Who is your target market and how are they listed in your database?
Have you exhausted all business within a certain industry or geographic location? Make sure to thoroughly review your database. Also, keep up with your local media sources and/or industry-related publications that will list new business or changes within a company that may give you a reason to include the business in your database. For instance, if a company’s vice president of marketing has changed, there is a good chance that the advertising agency of record can be challenged by other agencies.

Also, new business database should have all targets categorized by industry, location, and by potential. For instance, if you are presently working with a prospective client to finalize a contract, you may want to list this business in a category called, ‘Top Ten.’ If you have spoken with someone who has indicated interest but not right now, ask if you can touch base in a couple of months and put this business on a list labeled, ‘Warm.’

Have you read an article that one of your prospects could benefit from being informed? Make sure the information is relevant and consider dropping your prospect an email to let them know you have his or her business top of mind. Better yet, showcase the information as a link available through your company’s blog, Facebook page, Twitters or any social media outlet you are aware that your prospects use.

Also be sure that you are using the right software or even a traditional full-size desk calendar to list dates you need to follow up with prospects. Without follow up and ongoing two-way communication, business opportunities can easily slip through the cracks and your hopes of business growth and success may end up flourishing in another company’s yard.

P.S. Who is minding the store? If you don’t have someone working on and reviewing all possible business prospects and maintaining a new business database, you’re way past ‘off track!’

“Edutainment”: What It Is, Where It Started & How This Translates into Business Success

(For more business success ideas, visit: Brand Buzz: When Your Business Success Matters.)

For many in the advertising and marketing world, the word ‘edutainment’ is nothing new. Focused on growing business for clients, agency executives use the word “edutainment” to mean educating in an entertaining and engaging way. But if you haven’t heard of “edutainment” before, the word can be traced as far back as 1948 by The Walt Disney Company to describe the True Life Adventure series. (Source: wikipedia.org)

Edutainment has been a strategy used as part of many a marketing plan. Today, it’s making a comeback through social media. Think about it. The very communication tools that are a part of millions of your client’s and prospective client’s lives include Facebook, twitter, blogs and so much more. And it’s pretty fair to say that social media is a strong contender in entertaining and educating people on a daily basis. In fact, news out today from comScore inc says Facebook has overtaken Google search.

comScore says “… Americans spent 41.1 million minutes on Facebook in August that is about 9.9 percent of their Internet surfing minutes for the month, barely surpassing 39.8 million minutes or 9.6 percent of surfing minutes on all Google sites combined, including YouTube, the free gmail e-mail service, Google news and other sites….”

New Business Challenge: The Best Challenge Receives FREE Comprehensive New Business Plan

A dear friend and executive at an ad agency in North Myrtle Beach (yes, I’m jealous) has a phrase near and dear to my wallet. “If it’s free, it’s for me.” With that in mind, I am looking for a new business challenge to dig into and solve. If you have a challenge or a new business need and the “if it’s free, it’s for me” price tag works for you, submit your challenge that includes your:

1-Goal (in detail)

2-Target market

3-Competition

4-Product/Service

Additionally:

5-What has been the most successful product/service of your business?

6-What has been the most consistent positive feedback received to date?

7-What has been the most consistent negative feedback or requested change received to date?

8-What is your available budget for a new business action plan? (There is no cost for any work I do but my recommendations may involve a hard cost to you.)

9-Where do you see your business in 1 year/5 years?

10-What industry facts/information are relevant to keep in mind when developing a successful business plan for your company?

All entries will receive feedback. One entry will receive a comprehensive new business action plan at no cost. So, if free works for you, a great challenge works for me!

Deadline for all entries: September 2010

For more successful business ideas OR to follow along as I plunge into writing my first book, visit: Brand Buzz: When Your Business Success Matters. I look forward to your visit and to hearing from you soon.

New Business Materials: Design With Your Client In Mind

If you have a business, you have a brand. Whether the target markets you want as customers know your brand and what it represents requires strategic thinking, target market research and a visual connection of what your business offers and what your target market feels they “must have.”

Surely you have heard, “you can’t be all things to all people.” Whether you want to provide all the products and services for the clients you wish to serve, most likely smart business decision makers are like smart shoppers. These folks want the very best but are willing to shop around to get the best price for what they want. There is less of a likelihood that larger corporations will take you seriously if you actually try to say you can provide everything they need. In fact, it is often the case that a great number of decision makers will appreciate what you have to say if you can state what you have that is superior than others in your product/service category.

With this information understood, it’s time to realistically consider what your business has to offer that is better than your competition while providing quality customer service long after the sale. There are several differentiators that apply to different products and services. Your job is to uncover what the differentiators are regarding your products and services. Then, keep it simple.

Looking For New Business? Define Your Parameters

Most companies are looking for new business. And more emphasis is being placed on how to grow business by developing a new business strategy. No matter what your plans are for new business, you need to consider new business as a key component of your company from here on out. Remember, new business means you are working with companies and people you don’t know. And with any relationship, be it business or personal it takes time to develop trust. Sometimes you may find you are able to set up a meeting within the first week or so of contacting a prospect. Keep in mind, some great business will also be found 18 months later building a relationship with the decision maker and keeping in touch and being available when this person needs your services.

But before you can begin calling anyone, begin to build a contact list, which will be your new business database. To do this, compare what your company’s products and services are to what industries and companies in these industries need. Such as:

1. Industry – Taking your products and services in mind, what industries can best benefit from your offerings?
2. Annual Revenue – A publicly owned company states what its annual revenue is. Based on a company’s revenue, you may be able to identify if your offerings are something the company would be willing to purchase from an outside source.
3. Headquarters/Decision Maker’s Location – Verify the mailing address and NOT just a PO BOX address and also the name of the decision maker – the person who will make the decision to hire you for your products and services. You should develop a profile of the decision maker so that you have a clear understanding of how this person thinks at work and begin to develop a relationship with this person based on the decision maker’s comfort and not your impatience of trying to obtain new business.
4. Geography – To start out, consider all new business prospects that fit your target industries, annual revenue, decision maker profiling and also use a map to define a 50 to 100 mile radius from where your offices are as a starting point to build your new business database.

Next Post: Gathering Your Leads

“The secret of getting ahead is getting started.”
Sally Berger

The New Business Process – “Okay. How Do You Do It?”

In 2003, I was invited to present to a very well-known national advertising agency. At the time, I was working for a small, relatively unknown, local agency. Through the grapevine, the president of this national agency said he had heard I was simply the best at new business – bar none. We met briefly and he asked that I come back to explain exactly what my process was to winning new business and simply how I did what I did.

To give you a reference point, I built the new business department for this small firm I was currently employed from scratch. I developed a database with different levels of targets in key industries. I prepared a time line focusing on prospects in 1 month, 3 month, 6 month and 12 month increments. I put into place what some witty colleagues called my ‘black box’ methodology. With all of this, I was able to gain face-to-face time with globally and nationally-known companies such as:

• GlaxoSmithKline (GSK Worldwide)
• Volvo Trucks North America
• Abbott Laboratories
• Bayer
• Sealy Inc.
• SAS Institute
• Lowes Home Improvement
• Bojangles
• Sara Lee Corporation
• Champion
• Family Dollar
• VF Corporation – Healthtex, Jeanswear
• Remington Arms

When it came time to present to the president of this agency, I gave him a step by step new business process that I am more than happy to share with you now. The amazing creative design that came with my presentation will be featured in upcoming posts. Should you need a designer who is also a very strategic thinker (hard to find both) simply contact Jeff Zielinski at funkyteaparty.com

The New Business Plan
It’s about people, prospects & process

1. Define your parameters
2. Gather your leads
3. Qualify your leads
4. Evaluate and define groups
5. Manage creative execution
6. Test and refine
7. Roll-out
8. New and organic business (uncovering personalities will open possibilities)
9. Get through the door

Follow upcoming posts as I define and explain each step mentioned above. My hope is that you will find some of the same success I have…and more.

The RIGHT Consultant: Someone Who Understands How To Connect Your Business With New Business

When considering who you may want to bring in to help you get back on the winning track of business success, everything matters:

• Review resumes thoroughly
• Request a variety of referrals and contact each one
• Ask for general collateral material used in previous consulting work
• Discuss the different consulting options available
• Inquire about consultant’s follow up assistance
• Make sure the consultant you consider is someone you feel comfortable bringing into your place of business

The right consultant is going to be flexible based on your company and your employee dynamics. The right consultant will be focused on your success rather than his or her check. It should be true to say that your success is that of a consultant’s success.

Key Connection: Before hiring a consultant, consider this. Someone who is there to take care of your business and to help you develop effective methods to bring in new business is going to have a professional manner but will also have a caring and personable demeanor. To win new business, you must succeed in connecting well with people.

To get connected with the right life coach and new business consultant, click here for more information.