Planning With A Heart

What is your Unique Selling Proposition (USP)? (Also called a UVP—Unique Value Proposition.)

This is very closely related to the last blog I wrote about scoping out your competition. It’s also akin to the “elevator speech.”

Here’s the game: When someone asks you, “What do you do?” you want to have a ready answer that succinctly tells them the essence of your offer (product or service) and gets them to engage in a conversation.

Your USP is also a way to establish brand identity. For example, “Just Do It!” (Nike) or “When your package absolutely, positively has to get there overnight.” (Fedex) It’s the reason some customers will buy from you and nobody else.

Here’s a little history from wikipedia.org:

The Unique Selling Proposition (also Unique Selling Point or USP) is a marketing concept that was first proposed as a theory to explain a pattern among successful advertising campaigns of the early 1940s. It states that such campaigns made unique propositions to the customer and that this convinced them to switch brands. The term was invented by Rosser Reeves of Ted Bates & Company. Today the term is used in other fields or just casually to refer to any aspect of an object that differentiates it from similar objects.

According to Scott Sedwick of Hyperformance Media (http://www.hyperformancemedia.com/USP.htm)

The task of coming up with a USP can sometimes be tough. But every company needs to do this, it sets you apart from your competitors . . . it is one or more reasons why prospects should work with you, or buy from you, or do business with you, instead of your competitors, period.

If you’re struggling to come up with your USP, here’s a suggestion. Sit down with your team and brainstorm. Write down all the characteristics of your buyers that you can think of. Now use that list to identify the core problem that your product or service satisfies for these buyers. Now write a short sentence or phrase expressing how your solution solves that problem. Voilà! USP!

You know, it’s amazing, when you ask someone what they do, the wide variety of responses you get.

Your mission statement (akin to your “elevator speech”) should be a clear, concise statement of your central reason for being. Like, “we empower people to live their dreams.” It should be succinct enough to not bore anyone and strong enough to arouse the curious to ask for more. (Like, “how do you do that?”)

One powerful way to write a mission statement is to begin in the future.

That’s right, I said, “in the future.” This is called “future pacing.” Imagine the future where your project is successful.

Create a clear, concise picture of that compelling future. And I do mean picture! The best way to do this is with crayons and newsprint. Second best is to cut pictures out of a magazine and paste them on poster board.

There’s a funny thing about how your brain operates. Your subconscious mind (the part of you that communicates with the Universal Principal, and makes your conscious mind aware of opportunities,) communicates in pictures.

However, at a certain point, when you have saturated yourself with images, ideas, thought clusters, pictures, symbols, your mind then makes the switch to language, and out pops a mission statement!

When you do this kind of exercise, keep in mind that you are creating the seed of a future reality. You have literally tapped into the future to see it as it really is. Let its power take hold. Let it thrill you and delight you.

Share it with others judiciously. Don’t be stopped by negative reactions or questions of “how?”

You might want to create a Corporate Vision Statement. Be creative and colorful in this document. Use photographs of your team, graphics, and illustrations as well as text. Create a document that you will be proud to share with others.

This can be a powerful magnet for attracting whatever resources you need next, team members, contacts, or whatever else you need.

This document will become the cornerstone of your business plan. Continue working on it after writing your initial draft until you are completely satisfied that it conveys the energy and power of what your team has collectively envisioned as reality.

SNEAK PEEK: One of the reasons I’ve slowed down in posting these blogs is that I’m working on an online version of my entire business planning seminar. Watch for future announcements.

My Mission Statement: To empower entrepreneurs everywhere!

My Compelling Future: Hundreds of thousands of successful entrepreneurs connected through the Planning With A Heart network who are profiting from businesses they are passionate about and are changing the lives of millions of customers in the process.

Take a step to prepare yourself and purchase “Planning With A Heart” NOW!

Lots of people can write business plans, but what makes a business plan a good one?

Fundamentally, a good (or great) plan is one that fulfills it’s purpose. But that’s kind of begging the question.

So, a better question is, “What is the purpose of a business plan?”

I’m assuming that you’re writing a plan for investors. (Most people are, whether it’s their team, themselves, or outside funders.) Even if you’re not writing a plan for money, the answer is the same.

A good business plan answers three fundamental questions:

1. How does anyone make money in your industry?

2. How will you make money better, faster, smarter than anyone else?

3. WIIFM? (What’s In It For Me?—that is, usually, the investor).

It’s amazing to me how many business owners I’ve talked to who can’t answer any of the above!

First of all, what’s your business model?

What I mean by that is exactly how do you (a) generate revenue; (b) manage expenses; and (c) make a profit.

If you don’t know the answer to these questions, I highly recommend that you find the 5 most successful business owners in your industry in your community and go interview them.

“Success Leaves Clues”

Now that you’ve established the basic model, you need to figure out how you’re unique, different, sexier, more profitable, more efficient, create more bang for the buck.

You may have heard of your Unique Selling Proposition. If you can get this down to a single sentence (or even 5-7 words) you’re focusing in on the razor’s edge.

Finally, you want to tune into my favorite radio station: WIIFM.

Even if you are the sole investor in your own business, you have to key into your motivation, which is usually linked closely to the big, splashy, sexy, profitable result you are seeking. Why are you doing this and what do you hope to gain?

If you are addressing investors, what is the gain you will be producing for them? Is it instant profits? Is it consistent cash flow? Is it a long-term equity play?

There are other aspects of your business that you must address to flesh out your business plan, but I want to suggest strongly that if you can answer the three questions I’m posing, you’ll have a great start toward creating something that is truly unique.

If you’re starting a business, you have to have a business plan.

There’s a famous saying, “If you don’t know where you’re going, any road will get you there.”

To me, the greatest value of a business plan is the power it gives you to make every-day decisions. It’s like a compass, or a dowsing stick, that you follow in the direction of your goals.

People starting businesses write business plans for any number of reasons. If you’re going to a bank, or traditional lending source for funding, the lender is going to dictate to you that you must have a written plan. Besides a condition for funding, lenders use your business plan to track your progress and will re-evaluate your creditworthiness based on your ability to meet (and exceed) your revenue and profit projections.

If you’re seeking other kinds of funding, even the “friends and family” kind, a business plan serves as a marketing piece to your potential investors. It tells them what you are doing, your market uniqueness, and the reasons you need their funds. (And how you will be able to repay them.)

Even if you’re not seeking funding, a business plan is a great marketing tool. You may want to build a team, attract a board of directors, even woo major customers or suppliers. Your business plan (part or all) can be used to attract these people to you, let them know you are serious, organized and have thought through all the potential obstacles you may encounter.

It’s often said that entrepreneurs are natural risk takers. I disagree. Successful entrepreneurs are naturally risk averse, and take only calculated risks where they have researched the marketplace opportunity thoroughly and have minimized their chances of failure in every way possible.

The greatest reason I can think of to write a business plan, whether you’re a new company or have been in business for ages, is to get clear on your goals and get organized for success.

People often get distracted.

Many entrepreneurs are always scouting the market for the next great opportunity. It’s easy to tend to want to explore everything, try everything, market to everybody. After all, doesn’t everyone need what you have to offer?

When you have a written, detailed, specific plan, with clearly stated goals, strategic actions, and measurable results, you have a metric to guide you.

If you stick to the plan, you will have a reason for saying “yes” or “no” to new opportunities and new niches that arise. You will be able to determine if you are on track, or off track.

Finally, a business plan is a blueprint.

It gives specific direction to the Universe, if you will, letting your higher self know exactly what you want so that in the invisible order of things, your desire can be fulfilled.

Have you ever thought about starting your own business? Lots of people have, but fewer actually do so.

Perhaps you were an entrepreneur from the get-go. As a child, you had a paper route, sold stuff door-to-door, mowed lawns, washed cars, baby sat for your neighbors. As you grew older, you were encouraged to, “got to school, get a good education, get a job.” Maybe your entrepreneurial aspirations hadn’t gelled yet, so you followed the normal course.

Now, perhaps, you’re at a point in your life where it’s time to do something different.

According to the most current BLS information, the unemployment rate has increased to 9.9% nationwide in April, 2010, meaning that approximately 15.3 million people who would like to work are unable to find jobs. An additional 9.2 million people are working part time because their hours were cut back or they were unable to find full-time work. Finally, there are 1.2 million “discouraged” workers who have ceased looking for a job altogether.

Here is some equally interesting data from the U.S. Census Bureau. Of the approximately 23.3 million business firms that are currently active, approximately 17.6 million, or nearly three quarters have no payroll. (Translate, no employees.) According to the research, “Most are self-employed persons operating unincorporated businesses, and may or may not be the owner’s principal source of income.” That was in 2004, the most recent year data is available. Further, an additional 5.8 million businesses that did have payroll have under 100 employees – the SBA’s definition of small business.

Last bunch of numbers: new job formation. March, 2010 saw 162,000 new jobs created. Where did these jobs come from? Historically, the majority have been associated with new business start-ups and small business hiring.

So what does this mean for the ordinary mortal who is still struggling to make ends meet, or sitting at a desk day after day doing a job he or she hates.

If you’ve ever had a dream, a desire, to make a difference in the world, now is the time to do it! What I’m trying to show from all these statistics is that the efforts of a single individual, or a small group of individuals do make a difference.

I’m reminded of the famous quote from Marianne Williamson:

“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us. We ask ourselves, Who am I to be brilliant, gorgeous, talented, fabulous? Actually, who are you not to be? You are a child of God. Your playing small does not serve the world. There is nothing enlightened about shrinking so that other people won’t feel insecure around you. We are all meant to shine, as children do. We were born to make manifest the glory of God that is within us. It’s not just in some of us; it’s in everyone. And as we let our own light shine, we unconsciously give other people permission to do the same. As we are liberated from our own fear, our presence automatically liberates others.”

(from A Return To Love: Reflections on the Principles of A Course in Miracles)

I’ve told clients for years, that if you have an idea (for a business), then it has been given to you because you are the one who is uniquely qualified and positioned to bring it into fruition. So if ever you’ve dreamed, now is the time to get up off your chair and just do it!

A lot of people I talk to today are still fearful about the economy.  While economic statistics indicate we’re out of the recession, Federal Reserve Chairman Ben S. Bernanke forecasts a “moderate economic recovery.”  (Washington Post, April 14, 2010.)  Others are less optimistic, pointing to such factors as globalization, manufacturing obsolescence and even global warming to predict more coming chaos.

So what are America’s strengths? Why would NOW be a good time to start your own business? Why should you start a new business NOW?

I’ve said for a long time that Entrepreneurship will be one of the survival skills of the 21st century.  In 2010, we are uniquely poised to take advantage of our current situation.

In my generation (the Baby Boomers) we’re realized that there is no such thing as job security.  There isn’t even the security of retiring with a pension, and maybe not even retiring with Social Security.  Two questions arise for me from this.  One, why should I go to work for anyone else at all?  The other, when would now be a good time to start my own business?

Daniel Pink, former editor of Fast Company magazine wrote a book in 2002 called Free Agent Nation in which he documents the growing number of independently employed workers in the U.S. According to some of his numbers, fully one-third of the American workforce now operates as a free agent.  Included in this number are solo-preneurs, independent contractors, home-based business owners, network marketers, and small business owners.

With unemployment still hovering around 9.5%, (that’s over 15 million folks, folks!) and more people under-employed, or have just given up, there’s tremendous opportunity to do something useful with all this time on our hands.

If you’ve ever had a dream in your heart, have a hobby or an idea that you think you could make money at, now’s the time to start!

If you like this web site and are enjoying the information we are sharing here, please pass the web site address onto others so they can start Planning With A Heart™ also.

Why Planning With A Heart you might ask. It all began a long time ago.

I was teaching in Prescott, Arizona (in the mid-1990’s) and involved with the Episcopal church there. The church was overflowing its physical building and brought in an architect to talk to the board about building a new building. The architect was “innovative.” He had written a paper, called “Vision With Planning.” What he proposed was that after he got the new building built, he would then lead a visioning session with all the members of the congregation to “vision” what we might want to do with the new space.

I became incensed! I thought he had done it backwards. Vision first, then planning! I wrote a paper in response, called “Planning With Vision” which later became “Planning With A Heart”. That paper is now a chapter in the book.

“Without a vision, the people perish.” (PR 29:18)

This quote has been interpreted in many different ways. To me it means that there is some hunger in our soul, some need for inspiration, without which we don’t lead as full a life.

A friend of mine, Enrique Montiel, often says, “We all contribute. Some of us contribute while we’re still alive; some of us don’t contribute until after we’re dead.” If you think about it, wouldn’t you really rather contribute now?

To contribute means to exercise your God-given talents and abilities to create a unique expression of you. Many of us do that in the context of business. To create a business takes both vision and planning. Vision, to see the future as it already exists, to know how the world will be after your vision is fulfilled. Planning – the blueprinting of your idea in as much specific detail as possible, to map out the vision that you want to fulfill.

Planning With A Heart begins by helping you to uncover the vision of your heart. It takes you through the process of fleshing out the details of your idea to make it a viable business in today’s economy. It is filled with exercises and examples to help you along the way. It is a process, not a destination.

We live in troubled times. Even though many analysts suggest that the recession is over, unemployment still remains at 9.7% nationwide. That means over fifteen million people are still without gainful employment. That’s a lot of folks, folks.

Did you ever stop to think what unemployment really means? What do people do when they’re unemployed, under-employed, or have just plain given up?

When the going gets tough, the tough get going!

What I mean is, most people are entrepreneurial to one degree or another. They pick up things on the side. They work “under the table.” They pick up odd jobs. They start online businesses. They become involved in network marketing. All of these are essentially entrepreneurial activities.

What I mean by entrepreneurship is “bringing together resources for productive activity.”

According to Malcolm Gladwell, best-selling author and trend spotter:

“Great entrepreneurs are not visionaries or risk takers — they just have better economic modeling skills than the rest of us.”

That means being able to see an opportunity, perceive a need in the marketplace, and predict, with a reasonable degree of certainty, how to capitalize on that opportunity and profit. [Read more]

So, why start a business today?

Small business is always a key element in economic recovery.

Small businesses create jobs, starting with your own. But it’s not just about starting a business because you can’t find a job.

Small businesses express the inherent creativity in the human soul, our desire to express ourselves, even leave a legacy.

Starting a business is fundamentally about expressing yourself fully and making a meaningful contribution to society.

It’s time to stop asking, “What’s in it for me?” and to be begin asking, “How can I help others?”

One of my favorite mentors Barry Spilchuk used to say, “Getting Is Very Easy.” GIVE!

This website is dedicated to entrepreneurs everywhere.

Remember the 1997 Apple Video “Think Different”?

The text says:
“Here’s to the crazy ones, the misfits, the rebels, the trouble makers, the round pegs in the square holes. They are not fond of rules, and they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. About the only thing you can’t do is ignore them, because they change things. They push the human race forward. And while some may see them as crazy ones, we see genius. Because the people who are crazy enough to think they can change the world are the ones who do.”

This could well be written of entrepreneurs.  It is a well-known fact that more new jobs are created by small businesses (translate entrepreneurs).  Entrepreneurs are the risk takers.

I’ve been saying for a long time that entrepreneurship is the survival skill of the twenty-first century.  What I mean is we can no longer rely on existing institutions to “save” us.  We must learn how to save ourselves, to become responsible for creating our own livelihood.

If you’ve found this blog, you’re probably already interested in starting your own business, or perhaps you already have.  If you’re at the beginning stages, someone has probably told you that you need a business plan.

A business plan is simply a specific, detailed description of what it is you want to create.

Perhaps you’ve heard that all things are created twice – once as an idea, and then again in physical form.  In order to get past the idea stage into physical reality, you must have a blueprint.

There are a lot of people out there who will tell you how to write a business plan.  Actually, I’m one.  Most people will give you an outline to start from, or some software where you fill in the blank.  They’ll ask you question after question and tell you how to get organized.

The problem I have with a lot of these well-meaning folks is that virtually no one thinks in a straight line.  No one has all the answers before they start.

What you’ll discover in Planning With A Heart is a process of “uncovery.”   What I mean is that as you delve deeper and deeper into your idea, your market, your competition, you’ll uncover the true path to follow.  You’ll find that your heart will lead you.