The Difficulty of Essential Resources

When starting a new or growing an emerging business, what seems to be the greatest need of an owner is the essential capital is takes to build and operate it. Regrettably, in today’s economy, capital can be considered the most difficult resource to attain.

Looking back over the years, I remember a growing, healthy, and free enterprise system that always afforded each of us the opportunity to purse a life of abundance and plenty. Yes, it is still doable if we are willing to sacrifice and do what it takes to tackle the obstacles that come with entrepreneurship, but what has changed over the last decade are the challenges we face. The financial/banking system as we knew it—the moderate, risk-taking financial institution that would partner with small businesses to make their dreams a reality—is gone. They have all developed the mentality of “killing the golden goose,” where insatiability has overrun good business sense. After interviewing a number of bankers, their responses to loan lending have all but been the same sad song: “I have plenty of money to loan, but I can’t find business owners that qualify.”  “I’m in the loan-lending business, not the risk-taking business.” It used to be that having good credit was enough to qualify, but the mantra of our banking system today is “collateralize or no loan.”

Coincidentally, as loan lending has decreased so has the job market. If businesses do not have the resources required to grow, they cannot afford to operate and, unfortunately, cannot offer employment. If we do kill the golden goose that has made this country so very special for the growth and nurturing of our business opportunities, I’m afraid that a banking implosion may be right around the corner. There is only so much low-hanging fruit for the banking industry to share.

 I’m still a great believer in the free enterprise system, and so I am looking to 2012 for a better outlook on today’s loan lending business.

We will resume posting in January.

_{Mike Levi is C.E.O. of Levi Inc. a 19 year old business advisory firm that is in the business of building and implementing sales and growth strategies for emerging businesses.} 

_{http://www.high-performancesales.com/}

Growing Your Business: Are You on the Right Track?

There are several components for growing a successful business that allow you to bring more to the table than your competition. Product uniqueness, detailed plans, and an individual’s background can all benefit a new project if used simultaneously and correctly.

Your product should be sufficiently developed (and positioned) to solve client problems, and solve them better than your competition. Does your product have differentials that clearly separate it from the competition? Consistently, the one who makes the better bread-box will receive the highest praise and loyalty from customers.

Detailed plans can also make or break a new idea. Is your product positioned for future innovations and creative changes to address an ever-changing market place? Staying power for the long haul is critical, but knowing when it is time to move on can be just as equally beneficial. You need to have resources in place that will allow you to tackle unexpected obstacles that are bound to creep into the equation. Outlining a game plan for your business can make transitions for a product smoother and less stressful.

Though having a better product than your competition is a great start, individuals in your business are the real foot soldiers of your new idea. Are their sales and marketing expertise adequate enough to ensure that they will be a significant force in moving the project forward? To ensure success the company should take the time to truly explore the potential of the market they are entering. Remember, for each new product or endeavor there should be growth for learning innovative tactics that best compliment your company.

_{Mike Levi is C.E.O. of Levi Inc. a 19 year old business advisory firm that is in the business of building and implementing sales and growth strategies for emerging businesses.} 

_{http://www.high-performancesales.com/}

Developing an Effective Game-Plan

Every entrepreneurial venture begins with an idea, a product, or service; a comprehensive game-plan will allow you to transform that idea into a reality.

·         First, there should be two business plans. One can be a comprehensive business document, and the other can be an executive briefing, which would be a short overview. This will give you the flexibility of designing a plan that can be either a detailed description or a summary, depending on the use or the need.

·         Your business plan should describe your business and its goals, a clear understanding of the potential market, a marketing strategy, and financial objectives.

·         Your plan should allow you to evaluate your proposed opportunities, potential risk, and determine feasibility.

·         Your plan should contain an action plan with initiatives as to how to capture market share and a time-table to complete various projects.

·         Some questions to ask: What business are you in? Needs for this product or service? Profile of who would buy it, and for what reasons? What problems are you solving for your potential clients? Are you on the front of the wave vs. the back? The potential short and long-term possibilities of your proposed industry? What differentials separate you from the competition?

As I mentioned in my last blog, this should be a working document, a game-plan that will allow you to have a clear understanding of your objectives and goals, and a road map as to how you are going to get there.

_{Mike Levi is C.E.O. of Levi Inc. a 19 year old business advisory firm that is in the business of building and implementing sales and growth strategies for emerging businesses.} 

_{http://www.high-performancesales.com/}