Marketing Plan Process

We discuss the importance of blogging and social media quite often. It should be a part of everyone's business plan and an even greater part of your company's marketing strategy. And while you can appoint one key person to handle the load, it's important you have diverse voices coming from all areas and levels of your company so the average reader gets a comprehensive look at your operations.

Yet explaining the importance of blogging, making sure others understand it and are willing (maybe even excited) to participate isn't easy. You should be prepared for it to be a long process, one in which you will need to be patient and regularly follow up with people. I have been charged with implementing a social media strategy here at Milestone Advisors and encouraging others to take part so we provide well-rounded information on all of our specialties (which include marketing, technology, outsourced bookkeeping and much more).

Here are some suggestions that might make the process a bit easier for you that I have learned through trial and error:

1. Take time to explain and be sure participating members truly understand the value of social media, what it means to your company, your customers and more.

2. Explain the technical aspects of the platform you're using. You will surprised at how many people don't adapt quickly to different software products. Carving time out to walk people through the steps, leading by example will save you time in the long run

3. Do some creative brainstorming as a group. Just explaining what blogging is and how to do it isn't enough. And leaving it at that can lead to your team members sitting in front of their computers with question marks in their brains and blank stares on their faces. Helping them talk through subjects they can write about a few times will help them to easily develop story ideas on their own.

4. Send them some examples of blogs you really like, whether that's because they are well-written, tackle pertinent subjects or are just fun -- giving your team examples will also aid in inspiration.

5. Continue to provide encouragement. You're asking your team to step out of their comfort zones and do something for the good of the company as a whole. A confident financial advisor or marketing strategy pro may be nervous about sharing their thoughts in an open forum like a blog, check in regularly with words of advice, tips or positive feedback. It will go a long way

Company blogs aren't easy to get off of the ground and they're not easy to maintain but I will say, they are more than worth the effort. They enable you to connect with like-minded businesses, leaders, enhance your brand and maybe, sell a little!

Email has come quite a long way. It is a vital component of our everyday business dealings and often, the lifeline of communication between either our clients or our customers. Some would call email, the most essential business tool we have in both terms of strategy and tactics.

While email used to be what the email marketing industry terms as 'one-to-one' communication, it has blossomed into 'one-to-many' or 'one-and-back'. Those marketers who understand the transformation of email as a communication tactic that can gain new customers, keep other loyal and lure old ones back - also understand it is now a tool of conversation and must be seen as such.

iMedia Connection recently detailed ten ways that email marketing has changed since it was first identified as part of any savvy marketer's arsenal. The article then highlights ways in which businesses can adapt to the changes and utilize public perception of the communication medium, connecting with them in a way that respects their preferences and ultimately leads to profitability.

Some of the fundamental changes are detailed below.

1. Acquisition is important, but retention is where the money is
The article asserts that people view their email inboxes as different from their actual mailboxes. It's more personal and companies need to ask for permission to be there. People should have the power of choice in subscribing to be a part of your communications. And if you can get them to buy in, you have to spend the time and resources in making them stay. Developing loyal customers is what will ultimately lead to increased business.

2. Email is all about the conversation again
If you're tuned into any social media sites or are keyed into the scene at all, you're aware that to truly engage clients or customers you must first 'join a conversation' before expecting something in return for your activity. This means providing information of value or commenting on things other industry experts are saying. Soon, you will develop loyal 'listeners' who appreciate your participation and are more proned to buy from you, or at least become familiar with who you are.

3. A marketer can't claim success until it's measured the right way
A good marketer will also measure the success of any email marketing efforts you may be invested in. But they should also be mining that data for other reasons, not just to determine if people are opening or reading the email. There is simply so much data available now, a lot of conclusions can be drawn from subscriptions, click through rates, opens, conversions and unsubscribes. And these conclusions should be incorporated as future tactics in any marketing strategy plan or marketing plan process.

The article contains many beneficial insights -- all of which should be analyzed as a way to incorporate email marketing into your business plan in an intelligent and proactive way that will allow true connection to those who matter most to your company.

Many of our clients are start ups or young companies with fantastic ideas on very tight budgets. It's not an easy process to start a company, become profitable and maintain that growth. Never mind initiating efforts to garner public exposure for your wonderful company and recruiting brand ambassadors through strategic marketing efforts.

There may be a new trend in public relations that will allow smaller operations or start ups to begin PR efforts on a tight budget. In a recent Inc. article a Los Angeles-based PR agency is offering a bundle of services for a flat fee, sort of like your phone bill. You pay a monthly fee and receive a specific amount of anytime minutes, nightime minutes and text messages. Except with these PR services, you won't be charged overage fees.

The packages vary but can include such things as media list building, pitch creation, 20 press releases a year and basic wire distribution. The minimum commitment for their services is three months and the longer you do business with the firm, the more tailored your service package bundle can become.

PR is an extremely powerful tool that can help point your operations in the right direction for profitability. Reaching out to the public should be a key element in any marketing strategy, product marketing plan, new product positioning or product launch plan.

The basic concepts that lie behind being an entrepreneur.

You're creating something out of nothing, you should build a team around you that will support your goals and vision who also have the capabilities to help you expand. They should be creative, smart innovators, like you and have some diverse backgrounds to bring skills to the table you may not have.

Hiring a team for a startup is different than hiring for an older business. For the latter situation, you should be looking for organized, experienced people who are also comfortable with being leaders. They need to reliable and have high ethical standards. And don't forget, good communicators!

What about when you are expanding beyond an initial or leadership team? You should have some protocol in place that touches on expectations for employees, meetings and compensation practices. This will make it easier to bring new people into the mix. The other consideration, anticipating a change in communication. More people means more diversity regarding personality type and communication preferences. Getting a system in place that will make sure you're facilitating positive communication will be essential.

Let's talk about some common mistakes entrepreneurs make formulating a company, product and culture. Often times, these can occur in the hiring process, it's easy to hire people who look great on paper but aren't committed to your mission. Unfortunately, their lack of motivation can unravel projects quickly.

Don't hold on to control too tightly. Learn to let go. If you trust the people you've hired, at some point, taking your hand off the back of the tricycle is a must. They should continue moving forward as you stop and watch them go - freeing up your time to think strategically about growing your baby (company). And be understanding of mistakes, they happen to everyone from time to time.

Most important, accept and embrace your identity as an entrepreneur. Take your passion and communicate it clearly to investors and employees. Use these facts about what it means to be a leader and what it takes to succeed to develop an organizational development strategy, marketing communication strategy strategic HR plan that will give your passion a blueprint.

You are completely responsible for building the new world as your company will be part of it.

Any marketing professional worth their salt these days not only understands the importance of the Internet and technology to deliver a company's message and solidify their brand identity - they're incorporating these new platforms into their company, their marketing plan strategies, product marketing plan or marketing communication strategy.

But a truly smart, savvy marketer is going on step further and seeking out the next wave of Web 2.0 innovations that can bolster, aid or make more efficient their marketing outreach.

I did some research and found what some believe to be the emerging social media tools (via Social Media Examiner) that will continue to change the way we do business (and the tools we use to do it).

1. Foursquare
This location-based social network/gaming application is rapidly gaining users and mindshare.  Users “check in” at local businesses and earn rewards for frequently visiting participating establishments. Business owners can get value out of Foursquare by offering incentives for users to check in, such as special offers for repeat visitors.

2. Google Buzz
This is Google’s latest entry into social networking. Buzz allows users to post status updates and upload pictures and videos to a Google profile, not unlike Facebook and Twitter.  A user’s network is formed by contacts they interact with frequently on Gmail.

3.Loopt
Another location-based social service, Loopt aims to connect its users with their friends by visually displaying their location and availability on a localized map. Users can connect with friends in the area, see reviews and recommendations of restaurants, and find events in the area that might be of interest. Businesses have tapped into Loopt’s location data to offer targeted promotions.

4. Blippy
Blippy aims to connect people around the purchases they make. Blippy publishes the amount and location of customer purchases (with user permission), which the rest of the community can then react to.

5. Groupon
This site offers “collective buying power” by providing deals to groups of people who buy products and services in bulk from participating retailers.  The site uses social networking to get users to share offers with their communities, in order to reach the target number of customers the “Groupon” requires to activate. Businesses could gain exposure and new customers by making offers on the site.

The options or opportunities for creative innovation or implementation into your marketing plan, marketing process or strategy with the above tools are endless. Whether you're revamping a brand and plan to utilize giveaways and promotions as part of a product launch plan, all of the above are technologies that should be explored.

I am actually in the process of ordering both books by Dan and Chip Heath, Made to Stick and Switch: How to Change Things When Change Is Hard. The brothers, both business professors by trade who jointly write a regular column in Entrepreneur magazine are experts in what they teach as well as human psychology. Essentially, a great read for leaders to understand what their roles demand and what those they lead want from them.

In a recent interview the brothers shared insight into how to introduce your organizations to change - a difficult pill for the average person to swallow. If you're preparing to introduce different protocol, new employees or something far more drastic - understanding ways to facilitate widespread acceptance will go a long way.

Some of my favorite insights are below.

In reference to getting employees to accept change...
"One of the main mistakes is when leaders come up with a new vision but never translate that broad analytical vision into something people on the frontlines can actually execute. I was talking to an entrepreneur who wanted his employees to have a "mindset of customer service." But if you're an employee, when you hear that, all you hear is buzzword, buzzword, buzzword, jargon, jargon, jargon."

What about stubborn people...
"You can try to find the feeling that's going to make them empathize with customers. For instance, Microsoft had some very stubborn programmers who thought they were writing brilliant software. But six out of 10 customers Microsoft surveyed couldn't figure out how to use the new feature. When they told the programmers this, their response was, "Where did you find six dumb people?" Microsoft brought the programmers into a usability-testing lab and put them behind a two-way mirror. When the programmers watched a real customer struggle with the software they designed, the programmers immediately started thinking about ways of changing it. Don't try to argue with a stubborn employee. That appeals to the dark side of the analytical parts of ourselves."

Using the bad economy to motivate...
We commonly think that fear is a good motivator, but fear works for only a short time. And this recession has gone on for a couple of years in some parts of the country. So when we try to motivate people, we need to find feelings of hope and optimism.

Figuring out what motivates people, including clients, customers and employees is going to position you for success. Once you understand how people make decisions, you can tailor your services or management style to get the results you desire.

A strategic HR plan is just as essential as an in-depth marketing strategy plan. Establishing a communication style for your organizational development strategy will please both you and your employees allowing both parties to welcome change.

Every company has a different approach to communicating internally. Meetings are used to discuss company issues as well as brainstorm to develop plans for clients and delegate responsibilities for the execution of said plan.

Getting together is necessary to discuss the latest market research forecasting, new financial models or a product launch plan. Yet, sometimes they simply equate to lots of talking, little doing.

Yet, when run effectively, meetings put everyone on the same page and foster positive relationships throughout a company as well as the resulting creativity that occurs when minds meet.

MarketingProfs offers actionable advice to run a meeting that doesn't waste your time or your clients' time.

    •    Set a clear agenda when you schedule the meeting. The best outcomes happen when everyone is fully prepared to discuss the topic at hand.

    •    Ask for full participation. Instead of letting one or two voices dominate the conversation, create a collaborative environment in which all ideas are welcome. "Encourage everyone to speak up," he suggests, "but respect those that require time to process what they're thinking by not putting them on the spot right away."

    •    Don't lose track of time. According to Stephens, you should set a limit—and stick to it. "When the time is up," he notes, "the meeting is over. If you didn't accomplish [your] goal you'll plan accordingly next time won't you?"

    •    Establish what each participant will do next. Make everyone accountable by distributing an immediate summation of each team member's responsibilities.

I would recommend adding an area to your business communication strategy or strategic plan that deals with internal interaction and meetings. Establishing best practices for regularly occurring meetings will foster positive communication and increased productivity.

In recognition of Black History Month, Entrepreneur has compiled a list of the most iconic black entrepreneurs in history and dubbed it 'The Soul of Small Business'.

1. Oprah Winfrey (this should have been blatantly obvious)
Her story is incredible, her beginnings meager and her success unprecedented. Oprah reinvented daytime TV and transformed her personality into a brand with sheer innovation.

2. Berry Gordy
Gordy transcended racial lines of jazz, R&B and soul music when he developed the interracial 'Motown Sound' later leading him to found the iconic Motown Records.

3. Madam CJ Walker
The daughter of slaves and no stranger to personal tragedy, Walker developed her own product (a scalp conditioning/healing formula) and became the first female, self-made millionaire in the U.S.

4. John Johnson
The founder of Ebony and Jet magazines, Johnson provided African Americans with their own mainstream media outlets.

5. Cathy Hughes
Hughes developed and grew Radio One to the tune of 65 stations after being denied financing by 32 banks.

6. Russell Simmons
Simmons is an icon and attributed with making hip hop an acceptable and often applauded part of America's mainstream pop culture.

7. Magic Johnson
Yep, he's a basketball star. But he's also a smart investor. He's developed movie theaters, restaurants and coffee shops in urban areas in an attempt to revitalize their neighborhoods.

8. Tyra Banks
Beautiful to look at and smart too. Banks has become a media mogul, developing wildly successful TV shows, dabbling in music and movies and creating camps to teach young girls self-worth.

Here's what to take away from their examples.

Oprah is a marketing machine and it's all based on who she is, inserting bits of yourself or your personality into your company's marketing communication strategy or marketing strategy plan may give you that slight edge.

Both Walker and Johnson created something brand new. Innovation will help you lead the way in your industry accompanied by a product development business plan.

Cathy Hughes struggled to secure bank financing and won the battle. It's not an easy process but you only need one yes.

Venture capital is alive and well (and it can do good!), we know this thanks to Magic.

As for Tyra and Russell Simmons, they welcomed new technologies and adopted advancements in the media to launch their brands.

The best place to learn can often be the past.

Some recent advice from the popular marketing site, MarketingProfs, really struck a chord with some of us here at Milestone Advisors. Selecting a marketing strategy is a complex process. It demands creativity, research and must be find favor with most, if not all, of your marketing department.

It's easy to get caught up in simple strategies designed to surprise customers or cut prices for clients. But true marketing genius lies in understanding that delivering your message is a complex process and should be designed in ways that will not simply foster shock and awe, but will build brand and customer loyalty for years to come.

Here are some thoughtful tips on developing affective marketing tactics courtesy of Paul Williams.

Be Individualized
This doesn't mean a form email that uses mail merge to fill in an individual's name. This means understanding that person, their business and what their role is within their organization and appealing to them using that understanding as your foundation.

Immediately Add Value
This is something I talk about a lot but I believe in it. That's what I try to do with this blog. Providing people with information of value, things that they can use, is what being in business is all about. We must all interact in this way for anyone to achieve success.

Be Remarkable
I think this is where some make the mistake of adopting a flashy tactic or shocking slogan intending to solicit "ooooh" and "ahhhhhh" permanently aligning themselves with the idea of what is 'cool' in people's minds. It simply means stand out in a fresh way that they will want to share at the next company meeting. Not because you're cool but because you were innovative.

Be Appropriate & Relevant
In my mind, this should be a given. Getting attention is important but do so in a way that is useful to your specific audience.

The Resource When They Need It
Research and anticipate your audience's needs. When they realize what they're lacking, you're already offering it. (Williams uses a perfect analogy of old black and white movies, the guy always has a match or lighter ready as soon as the gal puts a cigarette between her lips). Being the first one in line with a perfect solution is a powerful thing.

Whether you're beginning to outline a market research plan, attempting some market research forecasting or building a brand marketing strategy - all of the above concepts should be understood and influence your approach to each one.

In the latest New York Times 'Corner Office' column, Susan Docherty, the leader of all sales and marketing activities for GM in the U.S. shared that her part of her strategic HR plan is to but a potential candidate in her shoes.

"I always ask people, “If you could be in my shoes today, what would be the top three things you’d do?” When most people prepare for an interview, they’re very focused on their prior experiences and examples of what they’ve done. And I think that you really do get some very candid, on-the-spot thinking when you ask them what they would do if they had my job. It demonstrates to me how they think on their feet without being prepared."

Other indicators or things she looks for include questions about failure to determine how someone deals with the overall concept, she watches for sense of humor (saying someone who uses sarcasm negatively won't score points), how an interviewee interacts with peers and of course, their presentation.

Success is all about surrounding yourself with the right people. Interviewing can be a tough process and some people can come off well in person yet not have the tools or attitude to execute when on the job. Thinking about a strategic HR plan beforehand in which you nail down desired qualities, specific questions and requirements. This should be a part of your overall business strategy or business plan. Being prepared is 99 percent of the equation for success!

Post Super Bowl several discussions are bound to occur. Why the team who won was so deserving. What decisions were made by the opposition that led to their downfall. What the future looks like for the league. And inevitably, what everyone favorite commercials were.

My favorite this year was Miller High Life's spot that gave four small business owners a chance to shine and show off their humor. What a great idea! To begin with, this concept of buying a spot and advertising for another entity (let alone advocating for small businesses) generated more media attention and exposure than any of the other commercials did buy simply airing commercials during the big game. Because of the gesture, Miller Coors have probably solidified some passionate brand ambassadors for life.

Big business advocating for small business. We certainly don't see that a lot but when it happens, we should publicize it. I believe Miller Coors' efforts are proof that corporate America realizes that an essential part of our economic recovery will be small businesses launching, surviving, growing and thriving.

This is a truth we believe in at Milestone Advisors which is why we do what we can to extend accounting advice, facilitate the market research process, build product development business plans and equip thought leaders to bring to market new products and services, fulfilling their passions and dreams.

So, we tip our hats to Miller Coors and their Miller High Life commercial. We hope to see more advocacy for small business in the future.

Valentine's Day is just around the corner, sending chocolate, flowers and card sales into over drive. But another staple in our Valentine's Day tradition includes indulging in fine food. Many couples will take this time to visit their favorite restaurant or try one that they haven't visited.

Another option is to treat your loved one to a meal prepared at home. And that's just what Milestone clients Eli Anderson and Nicole Ankney-Anderson are discussing in the Indy Star today. Whether cooking a meal for your special someone or working together in the kitchen, they share some great tips about making gourmet meals at home. (My tip is to hire them to do it for you! Their creations are incredible!!)

The article also eludes to the new business plans that they are developing. We're excited to see the new ventures that they launch and can't wait to become regulars! (We've even volunteered to play a part in their market research process...Samples!) Congrats to Eli and Nicole for the great article!

I was approached recently by the CEO of an upstart software as a service company to consider helping his company develop a corporate finance strategy and raise the requisite capital. We talked at length about the application that the company had built, the customer base, the channels that the company sold through, and the market opportunity. We also talked about some of the obstacles that the company faced in order to be successful.

It appeared to me on first blush, that while the product was a great solution, the "problem" wasn't painful enough to the prospective customers to cause them to beat a path to the new application or even make the purchase if proactively presented with the solution. But that was only my first reaction and I've been wrong before. We needed to dig a little deeper.

I offered to review the business plan and bring in our part time CIO to help assess the technology and the opportunity. But before we had received the information for our discovery process, we received an interesting call from the CEO.

The company had decided to put everything on hold. Everything. The board had met over the weekend and decided that it would take too long to pull together the necessary funding to continue the next phase of the product development plan. The other option would be to attempt to grow the business organically but they didn't feel that could be done successfully either.

What initially appeared as an incredibly large target market was actually not nearly as large as thought. The challenge? The pain factor, or lack thereof, that I mentioned before. I was afraid of that...

It's difficult for early stage or startup companies to consider spending time or money on market research - largely because both resources are so scarce. The other concerns are that asking prospects for feedback and input could "let the cat out of the bag" too early, cause challenges with meeting deliverables, create competitors, or put intellectual property at risk.

All of these concerns are legitimate and should be addressed and treated with caution. However, the risk of spending time in production or development ahead of completing a thorough market research process can cause greater problems down the road.

If you have a great idea that you are considering turning into a product or business, work with an individual or firm that can provide you with the market research services to support business plans for small business. You'll be glad you did and you'll be better positioned as a result.

For the infamous Corner Office column, the New York Times interviewed cosmetics mogul, Bobbi Brown. I appreciated the simplicity in her approach to such complex and sometimes touchy matters of hiring individuals, running a business and her thoughts on getting your career where you'd like it to be.

I've included a few experts I appreciated below.

When asked how she hires and interviews candidates:
"I don’t think about interviewing them for work. I first try to understand who they are as people. I usually have someone’s résumé, but I never look at it until they sit down. Then I say, “O.K., take me through the résumé.”

I really like this approach. So many people look great on paper, but can't relate to you in person. Do you want someone on board who can write a mean blog post but when you meet with potential clients puts them on edge or doesn't communicate well? I think odds are if you knew their qualifications didn't translate into closing a potential business deal you'd pass. Bobbi understands it has to be about people first, who they are and if you like how they come across. Then take a look at what they've done.

When asked for the best career advice she could offer:
"When you’re talking to someone, look them in the eye. Always tell the truth. And you have to start at the bottom. I don’t care who you are and what you do, you have to start at the bottom. If there’s a job as a receptionist at a company you would love to work at and there’s nothing else, get that job. And don’t just sit there. A lot of people have moved up in this company. Be open and be a sponge."

Some of what she says is basic knowledge if you want to make an impression as a good communicator. However, many people perceive 'starting at the bottom' in a negative light and a definitely blow to their pride, "I have a college education, no way I'm making copies and getting coffee for these people". But being in a position that affords you the time to observe the professionals around you, the processes they go through daily and the industry you're in will give you a leg up. Hard work always pays off as does dedication to a company.

The interview is full of other insights into how Brown first conducted business in the manner she thought was expected and that she's learned she should do it how and when she wants to as this allows her to do better work entirely.

What are some of your HR policies? Do you have a strategic HR plan or approach like Brown? Do you have a work philosophy that's built into the core of your business so it guides not only what you do but your employees as well? All the things Brown expresses in the piece demonstrate her understanding that she has formed a brand, a firm corporate identity. You can be sure that identification took time and market research and was eventually used as the foundation for a brand marketing strategy and business plan the Bobbi Brown Cosmetics uses as a platform to function daily.


 

The media doles out countless pieces of advice and daily insights into being an entrepreneur. Every day we hear another 'do', another 'don't or another 'look what they did'. I believe it's essential to read and learn about strategies that those who have gone before have implemented to achieve their respective success or to learn from their tragic failures.

However, we need to maintain a level of awareness and pragmatism. It's easy and to a certain extent, natural to romanticize start-ups, the involved processes and the wit and wisdom of those who run them. For every Mark Zuckerberg who vaulted to success after dropping out of college to launch his company there are scores more who are still struggling to make their dreams a reality. I say this to remind us all that what works for one individual may not work for another. Some of these tips or strategies are called out below:

Myth: Hire smart people and let them do their magic
Truth: Hire stars and let them do their magic

Myth: It's about your great idea
Truth: It's about your customers

Myth: Conflict is bad
Truth: Affective conflict is bad, cognitive conflict is good

Myth: It's about hard work, don't expect to have a life
Truth: It's about results and you need a life

Myth: It's an uphill battle until one day, then it all comes together
Truth: It's a roller coaster ride

The full post, courtesy of GigaOm, explains in-depth the reasoning behind each truth and is worth a read.

When you're in the beginning stages of launching a start up, it's important to gauge your personal philosophy regarding the above issues as well as the philosophies of those of your partners. These ideologies are necessary to nail down to build a business strategy, a program management plan or what your marketing plan process is going to look like. If these issues aren't addressed you leave room for misunderstanding of expectations which leads to inner conflict, something I am sure every entrepreneur would agree can be debilitating and distracting, wasting time and yes, money.

For many business owners, a clear exit strategy is an integral part of the overall business plan, while for others; the thought of transferring ownership is only a far-off notion.  Regardless of when it happens, ownership transition is a natural part of the business life cycle and should be planned for accordingly.  Preparing for this type of transition is a must so that when the time comes (and it may be the result of an unexpected development) you are more than prepared to come out on the other side of the deal a happy camper. Here are some things that should be addressed:
   
1.  Perform analysis of the owner’s needs, business operations and market factors to develop effective exit alternatives

2.  Prepare the company for future sale – operationally and financially

3.  Prepare company information, financial projections and other materials

4.  Identify and conduct research concerning potential buyers

5.  Develop your preferred deal structure and ideal negotiation terms

6.  Facilitate even further buyer due diligence (this would be farther down the line when a sale or acquisition was inevitable)

7. Coordinate negotiation and closing process (It may be wise to hire an unassociated third party to help facilitate communication during this stage)

In one of his more recent posts, the always opinionated columnist for Fortune starts out discussing sleep patterns. He reminisces about when he was a young professional just starting out, he firmly believed he required a full eight hours of sleep in order to function well on the job. If he didn't get it, he just knew deep down his productivity was going to suffer.

Now he points out that his job requires him to consistently switch living, functioning and yes, working, between two timezones. Therefore, he has learned to work effectively and produce desired results without the famed and restful eight hours. He then makes this assertion:

"I may be wrong here, but I think most of senior management, in corporations and governments alike, function on something like this very same sleep schedule. Work all day. Stay up late. Get up early. I wonder what it does to our decision-making processes. Actually, I don’t have to wonder. I know what it does. It makes people a little bit grouchy, more impatient, more solution-oriented, with shorter attention spans and a greater need for visual, auditory and sensory stimulation. We are never tired. We are always tired. And if we stop moving forward, we sink in the water, like sharks. They don’t sleep much either, do they. Maybe that’s why they’re one of the few species to survive while so many others have fallen to the wayside. And why they pretty much run any corner of the ocean they choose to inhabit, come to think of it."

I think he's right and I like the analogy here. That's why entrepreneurs succeed. They're the people whose passion burns so hot, they can't sleep at night and instead are up working on a global marketing strategy for a product launch plan that details a new brand no one has ever heard of. These are also the people who drive the economy and why America as a whole can be the global competitor it is - we can't concentrate on tonight's Leno when we know there's an organizational development strategy that needs to be laid out. During Sunday's sermon we're running through our company's numbers and reminding ourselves that a new finance model needs to be created. The wheels are always turning, the desire to achieve is a constant.

So yea Stanley, I like it. We're sharks.

I have a rule I'd like to introduce. If you're not familiar with Norm Brodsky, you probably should be.

Norm has been a contributor for Inc. magazine for years. A serial entrepreneur who has started and grown six different companies. Lately, Norm has been writing a column that details the incredibly complex and drawn-out process of selling CitiStorage, one of his six endeavors.

Each column details a new phase or challenge he's encountered during the process and I must say, his musings have been simultaneously intriguing and frustrating to follow. It seems the process of either buying a business or selling one (depending on which side you are on) is fraught with unseen obstacles whether those be morale of current employees, environmental regulations (one of Norm's problems) or adequate financing for the sale.

Even if you aren't currently in a position to either sell or acquire, reading through Norm's experience will open your eyes to the all the potential complexities involved in the process.

At Milestone Advisors, not only are we familiar with these complexities, we've helped many an entrepreneur sell their operations as well as buy other business that will enhance their products or brand.

We believe it an essential part of the process to contact a firm like ours who can objectively analyze the situation pre-sale and anticipate obstacles, thus building a strategic plan to ensure a smooth process. Such plans include organization assessment before a purchase or sale is made, market analysis (how will the sale or acquisition affect your remaining operations in the current economic client?) and much more.

Check out Norm's trials and tribulations throughout his process and if selling or buying is in your future, contact someone who can help you navigate through it.

His story is as inspiring and motivational as any - a curious 19 year-old dismantling computers in his dorm room instead of investigating all that college night life had to offer is now the leader of the company that has changed the way we think about computers.

Inc. has Michael Dell quoted back in 2002 saying, "the worst thing you could do to a new business is to give it too much capital." An interesting thought considering most entrepreneurs are continually struggling to garner funding to secure their start-ups future.

But could there also be advantages to being, as the article calls it, a lean operation?

Companies with funding challenges are sometimes forced to find creative means of accomplishing objectives which can often lead to innovation or breakthroughs that help streamlines processes making a company run more efficiently. Thus, giving the organization a leg up on competition and opening up new doors.

These challenges could lead to rethinking operations, outsourced bookkeeping, conducting more market research or forecasting possibly even writing a completely new business plan or brand marketing strategy that will shake up strategies that already exist, positioning the company for success in a changed market.

One huge advantage new companies have is they are in a position to observe what competition is already doing and take a different, more advanced approach, "attacking" the competition if you will. In being new, your operation is poised for an element of surprise and has an advantage.

Yes, this is a risky time to be opening up shop. But take a look at history, some of our country's most successful operations were started in times of economic turmoil. Entrepreneurs got creative, thinking of means to solve current issues across several industries, fill a need no one else had. It may be the most challenging time to do so, but it is in that challenge that true break through and ultimately, success, awaits.

Yesterday I talked about how important it is to research what other entrepreneurs or small business owners are doing to either launch or improve operations. This is not in an effort to copy necessarily but learn by reading about their major blunders and analyzing their success. Will things they have done work for your business strategy?

A lot of these thought leaders are more than happy to share their triumphs, processes and struggles in hopes that it can positively affect other business leaders. A wonderful aspect of 21st century technology - they can share all of this online, making their expertise and acumen more accessible than ever.

I present to you Inc.'s list of 19 Blogs You Should Bookmark Right Now. Some of my favorites and regular reads include Seth Godin, Guy Kawasaki and Michael Arrington. Seth Godin usually only writes a few sentences but it's as if he has taken an industrial power flashlight and shined it through a mass of clouds. His reflections are insightful and will get those wheels in your head turning.

Kawasaki is constantly offering advice that can help you improve business, mainly in terms of marketing. Some recent posts include 'How to get found' that explains SEO and a few quick tips on implementing an SEO strategy and 'How I twitter' which gives you a look at the methods and practices Guy utilizes with this social media and the rationale behind them. I like Arrington because, well, I'm a geek for technology and he has a great sense of what is going on that realm which is always closely aligned with the latest and greatest innovations in our country.

These blogs can help spark or fuel ideas that can change everything from your current business plan, how you go after bank financing to your overall business strategy. Read about their past experience and see business through their eyes, a new perspective may work wonders.