I’ll be hosting an interactive workshop on March 16, 2009 in NYC to educate people on the benefits of Guerrilla Marketing. I’ll arm you with over a hundred different ways to cost-effectively market your business and the fundamentals to developing a marketing strategy that fits your budget. 

It’s time to break out the Guerrilla Marketing warfare and outsmart your competition.

Monday, March 16, 2009, 6:30-8:30 pm

In Good Company

16 W. 23rd Street, 4th Floor, NYC

To register, send an email to inquiries@denkenresearch.com. $39 per person. Check, MasterCard and Visa accepted. 

http://suzysaid.com/fairfield/index.php?page=calendar&family=&category=&display=7089

“We’ve featured the great debate over whether having a formal business plan boosts an entrepreneur’s odds of success. But a new study finds that entrepreneurs who engage in business planning early on are more likely to at least get a business off the ground.”

Read more:  http://blogs.wsj.com/independentstreet/2009/02/09/advance-planning-pays-off-for-start-ups/?mod=rss_WSJBlog?mod=smallbusiness

BRING YOUR BUSINESS PLAN: Bankers considering you for a loan will want to know your plans, including your firm’s value proposition and sources of competitive advantage.

I tell my clients and colleagues this all the time, and couldn’t agree more. Even if you want a relatively small loan or line of credit, you still need to develop a solid business plan and be able to articulate your value proposition. Heck - even if you’re bootstrapping, you should still have a robust road map. Understand that skipping this vital step to launching a business decreases your chances of success and survival in this economy. 

Don’t know what a value proposition is or how to craft one? Click here:

http://www.denkenresearch.com/articles/ValueProp81908.pdf.

denken Research & Consulting and Marketwire (one of the leading newswire services) team up to offer tips on writing press releases, a comparison of newswire services, how to post your PR to the newswire, and everything you need to know about online press releases. Attendees will receive exclusive, discounted offers from both denken Research & Consulting and Marketwire.

In Good Company
16 W. 23rd Street, 4th Floor
New York, NY 10010 
Date: Wednesday, March 11, 2009 - 6:30-8:00 p.m. 
The fee for the 1.5-hour workshop is $39 per person. 
To register, send an email to inquiries@denkenresearch.com.

Apparently the proposed stimulus bill would funnel millions of dollars to the SBA to offer low/no fee, guaranteed loans; however, provisions are missing that would require commercial banks to earmark a certain percentage of their funds to small business lending.

Click here to read an insightful article by Keith Girard on AllBusiness.com:  http://www.allbusiness.com/government/government-bodies-offices-legislative/11772431-1.html

Perhaps more details of the package will be revealed today, but I’m wondering why Congress and this Administration aren’t acknowledging the monumental impact small business has on our economy…

I discovered the bank a few weeks ago while on my way to a meeting near Times Square. Need to go back and check them out in person. Has anyone inquired about their services? Are they all they’re cracked up to be? 

Here’s a link to a press release on Reuters:  http://www.reuters.com/article/pressRelease/idUS162098+10-Jun-2008+PRN20080610

The second edition of “Differentiate or Die” was released this year (2008) and includes up-to-date information and tactics on how businesses can survive in an “era of killer competition.” More than ever before, business owners and managers – regardless of the size of your organization – must have a strongly defined competitive positioning, and Trout explains what warrants ‘differentiation’ and how to position a differentiating or unique idea.

Recent studies show that the absence of clear differentiation is on the rise and this is a troublesome trend, especially for small business owners. Differentiation is based on the consumer’s perceived value of your product/service. Sometimes it is real value; sometimes it is based on individual perception. Sometimes it is rational; sometimes it is emotional. The bottom line is if you are not leveraging your uniqueness and attempt to be everything to everyone, you are undermining your true value and specific niche in the marketplace.

Generally speaking, the marketplace is saturated and consumers are overwhelmed with the number of endless choices of where to spend their money. While variety and choice are considered to be good from a purchasing perspective, at some point too many choices are just too confusing for consumers. This is why a clearly defined value proposition of why you’re better or different than the next best alternative is imperative.

Trout reiterates that every business owner needs to identify and articulate his or her Unique Selling Proposition (USP). If you have not determined what makes you and your product stand head and shoulders above the crowd, follow these simple steps:

1. Every message or promotion to your customers must make a proposition to the consumer. Clearly state what benefit(s) they will receive if they purchase your product. Give them a reason and desire to make a purchase.
2. Your proposition must be unique enough that your competitors cannot easily copy it. It should be based on something your competition does not – or preferably cannot – offer.
3. Your proposition must be so unique and powerful that it will draw new customers. The more you de-emphasize price and emphasize value, the better. (As a matter of fact, do not base your differentiation solely on price. Without strong branding, your prices will fall, your competitor’s prices will fall, and so will profit margins all the way around.)

It goes without saying, but never lose sight of the fact that the consumer is king. Their behaviors, thoughts, perceptions, and actions can make or break your company. Be sure you not only keep up with their ever-changing demands, but that you exceed their expectations. Your products or services should be positioned so you are offering your customers MORE than they think they need or MORE than they have come to expect from such a product. Again, it all comes down to their perceived value.

Michael Porter, an accomplished author and professor at Harvard Business School, is also a world-renowned expert on competitive strategy. In a paper entitled On Competition, Porter clarifies the difference between operational effectiveness and strategic positioning. Trout summarizes it as follows (pg. 42-43):

Operational effectiveness means simply performing better the same activities your competitors perform. This can be a source of short-run competitive advantage, but in the long run it’s nowhere near sufficient. As companies race to benchmark each other, [they] become more alike. “Operational effectiveness means you’re running the same race faster [than your competitors],” Porter says. “But strategy is choosing to run a different race because it’s the one you’ve set yourself up to win.”

Lead your own race. Focus on being the very best at one thing. Never stop educating yourself on your industry and your customers. The more you understand your customers and how their minds work, the better you will understand product positioning. Constantly refine your offering and your message to stay at the forefront. At the same time, never lose sight of your original identity, brand, and uniqueness as your company grows. In the long run, your company will be well positioned to succeed because you have based your USP on real value and differentiation. Failing to address these foundational aspects will hinder your efforts to grow and your ability to surpass your competition. Back to the original message: differentiate or die.

This book – and it’s simple message – is a must read for all marketers and entrepreneurs. It is a rather quick read, but chock full of great insight and ideas to help refine your competitive positioning. Pick up a copy to discover which differentiating ideas really have staying power and are most effective for your business.

On a scale of 1-5 (5 being the highest):

“The game has changed…consumers have altered their values, beliefs and behaviors, so the biggest challenge marketers now have is to figure out who these newly modeled consumers are and what they want.”

The key takeaway from this article was that marketers - and small business owners for that matter - should address challenges head on and do the following:

1. keep your brand visible 
2. frequently communicate with your target market and be sure to personalize those messages
3. increase your research efforts to understand what your customers are thinking/feeling

Listen, learn, and adapt. And never underestimate the power of market research.

http://www.nfib.com/object/IO_37993.html