Several years into the business, he had basically drained his resources and cut staff to a skeleton crew, including eliminating all marketing and sales people. His business now needed an infusion of cash and he was seeking partners. He had really done his homework to ensure superior products that were different than his competition. The numbers for production, time to market, costs and sale prices were precise and well-articulated with vigilance to objectives, keeping variances within finite norms. We saw a lot of product inventory ready for shipping but learned that the amount we saw was only a small percentage of his capacity.
Here was a man who had done everything he could to have a stellar business which followed a plan but did not have an engine. We found that the sales force was only the owner. He had tried to engage different points of distribution including the largest store chain similar to Wal-Mart in the US. This chain and others were glad to sell his products but wanted to discount the price to both his company and to the consumer severely, forcing him to run a significant part of his production line with very little margin. He had also been trying trade shows but they were expensive and a long term investment in building relationships.
I started asking questions relative to the marketing portion of his business plan. He could show me numbers and state objectives, goals and performance but additional questions regarding business generation strategies and tactics were limited at best. He understood his business but not how to sell or work through others to create sales. These were not even a part of the plan.
He felt that because he knows the business best, he was naturally the best sales person. He also admitted that he did not have much time to sell as he has to run the business. Few businesses will survive or grow without a sales engine to propel them to their destination.
The business has wonderful growth potential due to the quality, uniqueness and extensive product line, but an engine is needed. The company and its production facilities are housed in a restored fortress on a major road at the entry to the capital city of Tbilisi. If you did not know what was there, you would never stop, there are no signs. Even our tour guide who is considered an expert on the area had no idea it was there.
A visit to their website shows the product line, facility and more. However, potential visitors to the site would have a difficult time understanding the products, seeing buying opportunities or even making contact unless they read Georgian or Russian. The language used in addition to Georgian and Russian in most Georgian businesses is English, but that is not an option on the site.
Consumer avenues of information are not a part of the plan, distribution channels in most cases would need to have a direct conversation with the owner and multiple obvious marketing opportunities are not even under consideration.
The bottom line is that there is a great business adrift in the sea of opportunity without an oar in the water.
When you are building your business plan, communicate your plans and objectives with someone that is not a part of your company and maybe does not know your business. They may see the challenge that is right in front of you, something you may be missing but is so close that it is hidden.
4 comments:
prada outlet, kate spade outlet online, coach outlet, burberry outlet online, longchamp outlet, longchamp outlet online, nike outlet, jordan shoes, ray ban outlet, oakley vault, tiffany jewelry, louis vuitton outlet, tiffany and co jewelry, ray ban sunglasses, gucci handbags, christian louboutin, michael kors outlet store, longchamp handbags, christian louboutin shoes, polo ralph lauren outlet, nike air max, coach outlet store online, michael kors outlet online, louis vuitton outlet online, prada handbags, louis vuitton handbags, coach outlet, tory burch outlet online, michael kors outlet online, louis vuitton, chanel handbags, true religion, cheap oakley sunglasses, louis vuitton outlet, michael kors outlet online, red bottom shoes, michael kors handbags, nike free, christian louboutin outlet, michael kors outlet, polo ralph lauren, kate spade outlet, coach purses, nike air max, burberry outlet online, true religion outlet, oakley sunglasses
north face jackets, reebok shoes, ugg, nike huarache, uggs on sale, ugg soldes, celine handbags, north face jackets, giuseppe zanotti, marc jacobs outlet, ugg outlet, uggs outlet, replica watches, birkin bag, bottega veneta, ghd, vans outlet, soccer jerseys, babyliss, canada goose outlet, mont blanc pens, asics shoes, insanity workout, canada goose outlet, canada goose outlet, nike trainers, nike roshe, ugg boots, lululemon outlet, canada goose, longchamp, soccer shoes, ferragamo shoes, chi flat iron, mac cosmetics, wedding dresses, ugg boots clearance, valentino shoes, instyler ionic styler, jimmy choo shoes, herve leger, nfl jerseys, beats headphones, abercrombie and fitch, mcm handbags, hollister, new balance outlet, uggs outlet, p90x workout
I say many thanks for the info you provide to increase knowledge
Soon overcome all the problems your illness complaint before everything gets worse
Obat Asma Tradisional
Cara Herbal Mengobati Laringitis
Obat Ampuh Menyembuhkan Alergi Menahun
Pengobatan Hernia Untuk Semua Usia
Pengobatan Batuk Berdahak Herbal
Pengobatan Kudis Secara Merata
Post a Comment