Wednesday, August 29, 2012

How to write a one-page business plan



If you’ve been putting off writing your business plan, you are not alone. Writing a business plan can seem like a daunting task and an easy one to avoid.

But, it doesn’t have to be. An easy way to start is with a one-page business plan.

There’s really not any difference between a “one page business plan” and a good executive summary. The only real possible difference is the that the “one page plan” must absolutely fit on one page in a font that most people can still read, while a traditional executive summary can extend to two or three pages, but really should never be longer than that.

If you can condense your executive summary to one page, that’s great. Investors don’t have lots of time to read and a one-page executive summary will get the idea of your business across succinctly. It’s actually a very good exercise to trim down your executive summary to the absolute minimum. This will force you to trim needless words and communicate your business idea clearly and with minimal clutter.

Whether you want to call it a “one page business plan,” an executive summary, or an elevator pitch, it should contain the following:
  1. Customer Problem
  2. Your Solution
  3. Business Model (how you make money)
  4. Target Market (who is your customer and how many of them are there)
  5. Competitive Advantage
  6. Management Team
  7. Financial Summary
  8. Funding required
The content of your executive summary is by far the most important thing. Too many companies spend time focusing on presentation and graphical display of their plans when what they are saying and how they are saying it is really the most critical aspect of your executive summary. Don’t get me wrong, you don’t want to have an ugly presentation, but focus on the content more than anything else.

Remember, the executive summary (or one-page business plan) is usually your introductory communication with investors, so it will be your first impression. Investors will use this document to get an understanding of your communication skills as well as your ability to think critically about your business. You should spend more time on this part of your plan than any other section.

5 Reasons to Write a Follow Up Email After an Interview



Going on a job interview can be stressful, especially given the number of applicants that may be in the running for one position. Set yourself apart from the rest by sending a follow up email to the employer. Dropping a few lines to the interviewer can only help your chances of landing the position.

Show Them You’re Persistent

Sending a follow up email to a prospective employer lets them know you truly are interested in the job, and you’re not willing to give up too quickly. An email thanking them for their time and reiterating your interest in the position can be the one thing that puts you ahead of another potential candidate.

Expand on the Actual Interview

Interviewing for a job can make your nerves go haywire, so you might not be as level-headed during the interview as you should be. Sending an email after the interview gives you an opportunity to expand on points that you may not have expressed the way you wanted to. Once you’re out of the interview, you begin to think of things you should have said. A follow up email is the perfect way to touch on these points, and to correct any mistakes you may have made during the interview.

Good Manners Go a Long Way

Just like you send a thank you note when you get a gift, sending a follow up email to a prospective employer lets them know you appreciate the time they’ve given you. It shows your character, which may be just the thing that sets you apart from other candidates.

Don’t Let Them Forget About You

Many employers are inundated with tons of resumes and applications, and even though you’ve interviewed with them, you don’t want them to put you on the back burner. Keep your name in their heads by sending an email a day or two after the interview.

Tell Them You’re Interested

Of course the employer knows you want the job, but sending a follow up email can reiterate this claim. Let them know how much you appreciate their time and how much you enjoyed getting to know them. Tell them what you love about their company and the position and why you think you’d be a perfect match. Make sure there is no doubt in their mind that you want this job and are confident you can do it well.
Even if you think your interview went well, make sure to send a follow up email to solidify your interest. This simple gesture may determine whether or not you get the job.

Article Source: http://EzineArticles.com/6819526

Wednesday, July 25, 2012

Marc Goldstein discusses the essence of great strategic leadership and business success.



Leadership - To Guide the Way

 Leadership is not easy. It requires vision, determination and an ability to persuade many that they want to be part of the solution to the challenge. In the first instance it is relatively easy to get everyone on board, fired up and raring to go, but what about a year or two down the road when not everything has gone to plan. Then what…?

It still boils down to having a clear vision, a clear strategy , with clear goals , generating excitement , motivating the teams, providing appropriate and timely follow-up , and adjustment of the plan, the teams and the people where necessary.

A Clear Vision
Without a clear vision of where the company is going, it is really difficult to get anyone interested. So ask yourself why you are doing this, what is this business all about, how does it help others and what can it evolve into? Having spent most of my business life in the pharmaceutical world, creating an empowering vision has always been relatively easy: “We are in the Business of Saving Lives…”, “Extending Life Expectancy…”, “Improving Life Style….”, and many others related to health and well being. It has to be honest, it has to be unique, it has to be attainable, and it has to draw on an inner need and drive that everyone can relate to. Talk to your team; see what excites them, and ask them why they work for the company. Choose your vision wisely.

A Clear Strategy
Essentially a clear strategy is all about making sure you understand your own strengths and weaknesses, as well as the opportunities and threats that the company faces. It is particularly important to understand your customer’s needs and your competition. Once this is defined it is possible to formulate strategies that harness your strengths towards certain key opportunities, as well as strategies that limit the threats you face and address some of your weaknesses. In my experience, it is just as important to address the weaknesses in an organization, as it is to focus on a game-changing opportunity. Develop your strategy carefully, involve your senior management, and test it out with external observers.

A Clear Set of Goals
Once the vision and strategy are clear, then it is down to executing the business plan to make it happen. It is worth spending the time to draw up a comprehensive action plan that defines the goals you want to achieve, the timing, the expected results and who is responsible in the organization to make sure each goal in the plan is executed. It is also important that everyone in the organization understands the plan, how you expect to get there, and the types and standards of behavior you expect to be exhibited within the company and externally with your customers, suppliers and service providers. Your managers should ensure that every individual understands how they fit into the game plan, what their specific goals are and how they should achieve them.

Excitement & Motivation
This is where the vision plays an important role, making sure all contributors are involved in formulating the strategy and goals, and making sure the energy levels are high. Providing teams and individuals with challenging goals that stretch them is a vital part of this process as well as making sure the “team” really knows how to work together. A few timely team-building activities can be vital to help generate the excitement. Above all, making sure each individual understands how they contribute to the team and the company goals and vision creates an important emotional link to enhance a sense of excitement and motivation.

It is also vital that everyone understands they will be held accountable for achieving results, supporting the team and exhibiting the defined behaviors you think are important, and that their results and the “right” behaviors will be rewarded. Tying results and behavior to rewards are essential – both for individuals and for teams.

Follow-Up and Rewarding the “Right” Behavior
Regular follow-up is essential, both with progress reports on projects and feedback on individual contributions and teamwork. I always found it useful to have individuals define variances to plans, and any potential options and recommendations for changes they might propose. It is not enough to report a project is delayed, what are you doing to make up the time and limit the cost overruns? Requiring this approach helps them start to address and solve problems as they arose. The follow-up activities can be on an individual basis and team basis, and is an opportunity to reinforce the vision, strategy and goals.

Providing timely and appropriate feedback is essential – both good and bad. Only reward those that achieve their goals and exhibit the behaviors you want and articulated. Do not reward those that do not achieve results or if they use the wrong behaviors to get there.

Adjustment of the Plan
Adjustment of the plan is a vital part of ensuring your strategies and goals remain real and appropriate, taking into account changes in the environment, the competition, new developments within the company and the unexpected. By asking for variance reports (variance to plans), and forcing individuals to identify alternate options to get back on plan or to accelerate the plan, along with recommendations, forms the basis of the all important adjustment needed to get back on track or to get ahead. The biggest mistake a lot of companies make is forming a strategy or set of goals and sticking to it even if the world has changed. I am not saying one should change strategies every week, but one should review it regularly based on major changes that occur, so that you can ensure your company continues to grow and thrive.

Leadership is about keeping your eye on the ball, and making sure everyone else does too.

Thursday, June 7, 2012

Use the best words to sell yourself in your Resume


Stop using passive terms on your resume; passive terms dilute the quality and value of what you offer the employer. Seriously, if you’re using any of the following terminology, you need to make a change today!

Demonstrated mastery of...Responsibility for...Duties included...Worked with...Familiar with...Knowledge of (or) Knowledgeable in...

These passive terms are not action-oriented, and they make for a rather lackluster resume. Instead, show the employer exactly what you’re capable of achieving and bringing to the table! Below you’ll find a list of 50+ strong action verbs that you can put on your resume NOW to spice things up!


Advance
Discern
Halt
Anchor
Dispense
Handle
Architect
Draft
Head
Arrange
Drive
Illustrate
Augment
Earn
Imagine
Believe
Effectuate
Institute
Bestow
Eliminate
Instruct
Brainstorm
Empower
Integrate
Brief
Enact
Intensify
Capitalize
Endeavor
Lower
Capture
Endorse
Maintain
Centralize
Enforce
Network
Champion
Enliven
Optimize
Classify
Ensure
Orchestrate
Convey
Entrench
Predict
Decipher
Equalize
Renovate
Deploy
Extricate
Spark
Derive
Forge
Steer
Detect
Formulate
Terminate
Devise
Foster
Unify
Differentiate
Graduate
Visualize
Direct
Guide
Win


Remember that word choice is important—and so is customizing your resume for each position.

Tuesday, April 17, 2012

The Curse of the Premature Evaluators


Published 24 June 2011 by David Welsh
I have unearthed a secret shame that blights recruitment consultants at all levels of the profession.

It can ruin relationships, leave all concerned deeply dissatisfied, and potentially inflict untold damage on the sufferers, those they are supposed to care for, and the economy as a whole.
The recruitment profession is suffering an epidemic of premature evaluation.
It seems many recruiters have been suffering for a very long time, although the economic stress and pressure of today’s world is exacerbating the condition.  Consequently, premature evaluation is now reaching epidemic proportions.
Like most private, shameful syndromes, its sufferers are largely in denial about it.  In fact, some only feel free to discuss it in internet chat rooms, like LinkedIn. Many blame their partners. They lie to hide its existence, or say that premature evaluation is not a problem.
Let’s talk a little more about this condition.
Many recruiters sometimes last no longer than twenty seconds when presented with a candidate's application before evaluating. Oh sure, they have their excuses. They don’t have time to be more considerate.  The pressures of work create stress and that aggravates the condition. Anyway, if an application prompts a premature evaluation it must be the candidate's fault.
Premature evaluators are in fact more or less incapable of seeing the problem as theirs, and not the candidate's. Length, untidiness, unattractive presentation and other ephemeral characteristics get the blame.  In fact, premature evaluators lack the patience, depth, knowledge and often the experience to build a more mature appreciation of a candidate's application.
They just want to evaluate and move on quickly to the next application.
Premature evaluation would be less of a problem if the recruitment profession was more honest about its prevalence, and showed some interest in addressing it. Sadly, many, perhaps most, lie to protect their dark and secret predilection.
Anyone who has read a recruiter's website, or had to listen to one of their pitches, will know the words they use. They tell their clients they have the most rigorous methods.  They talk about the care with which they treat candidates.  They attract both with a veneer of knowledge and sophistication, perhaps tarted-up a little but nevertheless promising nothing less than a first class performance.
Sadly, both clients and candidates discover too late they have been seduced by a premature evaluator. Great candidates are cast aside after an over-hasty encounter with their application. Wildly inappropriate job seekers are placed before hiring officers. Frustration, anger and shame are the result.
Many do not even know they have been let down, because premature evaluation does not require the physical presence of a candidate.  The CV alone is enough. Suspicion, however common, can rarely be proved, and the victim of a premature evaluator can live in twilight of half-knowing, and blame themselves.
The condition came to light a few days ago when I was busy reading discussions on various LinkedIn groups for recruiters – strictly research you understand. There you can find recruiters admitting just how little effort they put into evaluating CVs. I was shocked with the freedom many of these premature evaluators felt able to flaunt their condition. Twenty seconds, thirty seconds, anything longer than a minute was an unusual time to spend with an application.
Just as an experiment I looked up the websites of some of these recruiters and there are all the old lines about rigor, experience and care. 
How can the rest of us protect ourselves from premature evaluators?  Until the sufferers are ready to abandon denial and start to grow out of their condition, we will have to take a few precautions. Premature evaluation is so widespread among recruiters you will rarely be able to spot someone with it in advance.
For now, the best prophylactic would seem to be a good application – one that is reasonably short, crisp, direct, and to the point. It should have some attractive features near the top, and punchy one liners that grab, and keep, their attention. You need to keep the recruiter fixed, delaying evaluation until a later session or at the very least until a more thorough evaluation has been performed.
Sadly, a cure seems a long way off. Those suffering from it have taken refuge in deceit and secrecy. It may be eventually the Government will be forced to act. Until that day the best thing we can do is protect ourselves using the techniques I prescribe above.