Strategic Plan

I had a great meeting with the CEO of one of our client companies today. The meeting was to review the progress the company was making toward their business plan and financial projections. Now that we're half way through the year and June's financial statements are closed, it's a great time to dive deeper than we normally do on a monthly basis to see how things are shaping up.

We spend time asking lots of questions. Was our market forecasting correct? How effective has the new product positioning been? How do we see the last half of the year shaping up? Are there ways for us to improve the financial performance of the company? Are customers paying in a timely fashion? How can we improve cash flow? We ask these and lots of other questions to identify ways to improve the company's results.

But let me back up for a minute. The reason that we're able to compare actual results to their budget is because we created the business plan and projections in the fourth quarter of 2009. You know the old adage, "If you don't know where you are going, any road will take you there." Running your business is much the same. Taking the time to work through key strategic planning elements can go a long way to putting you on the right road. Executing the plan and monitoring your results can keep you there.

'Build your brand'. It's become a highly popular buzz phrase in marketing, technology and social media circles. Building a brand is a process, some would say a life-long undertaking for any company or product. It takes innovation, great customer relations and cosistent messaging.

If you're the leader of a company, small business or not -- it's just as important to build your personal brand. You are the public face of your operation to the customers, the media and various business partners. In meetings, in the headlines and cocktail hours, people will relate or be drawn to the personal brand you have developed and project. You had better start working on it if you haven't already.

Inc. Magazine has some pertinent suggestions to help you start.

Pick an area of expertise
So you're going to be an ambassador for your brand. But what do you want to be known as an expert or pro in? Maybe you run a marketing firm - your specialty can't be that broad when building a brand. What do you bring to the table that no one else can? Maybe you're great at the design aspect of marketing or maybe you know all of the technologies that can assist in marketing efforts. Just make sure you've zeroed in what it is you can do for others that really sets you apart.

The web is your friend
After you meet a potential employee or business partner or hey, your daughter's boyfriend -- where is the first place you go to get the 'real' scoop? Google of course. You should automatically assume this is where people are going to check out you, your company and anything else you've published or are associated with. You should be making sure your website as up to date and state of the art as possible. Also be sure any other sites you have profiles on are updated and grammatically correct such as LinkedIn, Facebook, etc.

Writing and blogging
Making your perspective readily available for anyone who may be interested in it shows you care to communicate with others and you know how to intelligently express your opinions. It can also help you make connections with others, whether they be for business or personal purposes. If you blog regularly and invite comments, criticisms, etc. you open the door to two-way communication that can ultimately benefit you. (i.e. what if someone sends you an idea on new products or has insight into a global marketing strategy)

Make some headlines
Being quoted in stories or making an appearance in any form of media can benefit your personal brand, positioning you as an expert people go to for insight and information.

There is so much one can do strategically to enhance your personal brand which will ultimately benefit your company as well as yourself. It's not about publicity, attention or making yourself known. It's about establishing who you are, what it is you're about and being sure you can be seen in enough places where those who need to find you can do so.

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!

Somewhere along the line, direct marketing has become a whole lot less expensive and unfortunately, more thoughtless. Perhaps this happened when all of us "marketers" shifted much of our outbound messaging to email, blogs and eMarketing. It's easy, it's quick, it's affordable and most of all we can get some great metrics. Ah, every marketers dream.... instant access to data. We can see when our message was delivered, when you opened it, how many times you looked at it, if you clicked on any links, forwarded it to someone else, a conversion rate and on and on. 

Blogging is a fantastic business medium. It can be molded to any cause or purpose, put a human face on your company, help build relationships with customers and make important information available immediately to large groups of people.

We've also discussed that encouraging your own team members or employees is a great way to fill a blog with rich content, different perspectives and infuse personality. And it should be a part of your business strategy to reach customers. However, empowering employees to put personal thoughts on your company website would give any leader pause.

There is always a chance that they could disclose confidential information -- it's easy to get lines crossed concerning things that are discussed in the office but shouldn't go any further than the front door. And, as much as we hope it never happens, unhappy employees sometimes choose to vent or air frustrations in public forums.

So, how do you give employees ownership of this social medium and ensure that your trust isn't violated?

1. Create a governing policy
Guidelines reign people in well and can be pointed to when there are small mis-steps giving you something to reference when discussing what is expected of all your bloggers.

2. Make it clear what should and should not be included
It's okay to tell people what they can and can't write about. It's also okay to extend the agreement to their personal blogs, if they want to participate at all, they have to agree to terms for both.

3. Learn from those who have gone before
Plenty of companies both small and extremely large invite employees to participate on corporate blogs and have create social media policies to govern their participation. Their guidelines are readily available online, when creating yours, see what some of the most successful companies have done.

A social media policy can save you a lot of frustration, time and money should someone abuse the forum. Incorporating a policy into your company's business plan, marketing strategy or strategic hr plan can only benefit operations.

That time has arrived. Ambitious college students abound, hitting the mall for dress clothes, making a sincere effort to enjoy the taste of coffee and heading off to a nine to five -- all to gain a few lines on their resumes. Yep, we're talking about internships. What used to be an optional form of summer employment has now become a requirement if one hopes to get a job opportunity immediately upon graduating from college.

Internships are not only a great resource for students themselves but also serve a purpose for the companies who offer the programs. They are exposed to the talent and imaginations of a variety of young, fresh minds -- a valuable resource.

How do you manage interns? A good question as there are different parameters for this type of arrangement than there are for new employees. Inc. Magazine has some tips and tricks into best practices when dealing with an internship program.

1. Know what you want
In order for either party to get anything out of the experience, you must have clearly communicated your needs and expectations for your intern. This way they will have every opportunity to produce results for you and they, in turn, will learn.

2. Provide for your interns
From menial tasks to the really big opportunities. Interns should be required to deal with PowerPoint presentations and Excel sheets as well as delivering actual presentations to senior members of your team, providing them a well-rounded experience. You should also give them resources to use after their time with you is through such as connections to professional networking organizations.

3. Provide mentorship and advice
Part of the value in having an internship is derived from the intangibles, things we are exposed to when entering the working world on a daily basis. They can sit in classes and hear about how things work all day long but nothing compares to the knowledge gained from actually being in a given situation or environment. Make sure your employees make themselves available for interns to pick their brains and ask for advice.

You can find the entire article here. I think companies and the interns themselves both benefit from these programs. It is simply important that internships are built into your business strategy or business plan and serve a clear purpose in which some area, marketing strategy, technology, etc. benefits and that you have the time and resources to be sure the participating student benefits.

It's true! They have a 95% success rate. I didn't believe it either at first. Yet it's an assertion backed up by a wealth of statistics.

A 2009 report by Elizabethtown College sociology professor Donald Kraybill. Studying several Amish settlements, Kraybill found failure rates ranging from 2.6% and 4.2%; interviews with loan officers, accountants and industry professions in other Amish regions yielded additional anecdotal evidence of closure rates significantly south of 10%.

How do they do it? The answer is rooted in their culture. In Amish communities, nothing is more emphasized or promoted than hard work. That ethic permeates not only daily chores but the companies they form, own and operate. The Amish also stress the importance of cooperation, relying on others' strengths where you may encounter your own weaknesses. And we're not talking about the kind of collaboration that takes place online, which so many of us rely on daily for business purposes. We're talking about face to face communication and team building that centers around tangible activities and challenges that can unite participants and capitalize on an individuals' best attributes.

Another defining aspect, Amish business owners have a solid understanding of their capabilities and more importantly, the things they excel at. They know what they're good at and don't try to push into realms they may not be skilled in. This inspires something corporations are constantly trying to garner: trust and loyalty of consumers.

It doesn't hurt that the Amish tend to demonstrate humility, a quality that allows good leaders to grow into even better ones.

Many Amish businesses demonstrate great knowledge of business strategy and the accompanying concepts. They build strategies around concrete ideas, incorporate humility into marketing strategy plans and much more. Read the entire article here.

What can you do to be more like the Amish? How can you incorporate their culture into your company's culture or your business strategy?

If you're in charge of increasing public exposure and enhancing the brand image for your company, there are some basics when it comes to social media that you must know, fully understand and put into action. They are simple concepts that won't take much time or effort to wrap your mind around, however, their effective implementation may take a bit longer.

Simple Truth #1
It's your duty to learn how existing and new tools can help your clients or your company. No excuses.

Simple Truth #2
Use and learn new Social Media tools before your clients or executives do. What is an expert? Frequently, it’s someone who just has a jump on the information.

Simple Truth #3
As you learn about a new social media platform or tool, sign up and try for a minimum of 30 days. You may find that it has little use for you personally but it may be a useful channel for your brand or clients to engage stakeholders and customers.

Simple Truth #4
Take some time to reevaluate your personal usage of Facebook, Twitter, Foursquare, and any other platforms.

Simple Truth #5
You should be asking, what's next? One word, DIGITAL.

Once you take the time to research the foundation of each truth you will better understand how to use social media for yourself, your company or your clients. In-depth understanding of these concepts ensures effective implementation of all things social in your strategic business plan or marketing strategy.

Here at Milestone Advisors we advise businesses concerning almost every aspect of running a company. We consult on product marketing plans, financial market forecasting, writing business plans to attract potential investors or simply taking a look at someone's books to see if they could benefit from outsourced bookkeeping.

Recently, there has been a shift in the tools we recommend for marketing strategies. Social media has come out of the blue and now dominates most marketing and business strategy tactics. One of these mediums, Facebook, a social networking site, has become a hotbed for not simply B2C outreach but B2B as well.

In his most recent column, Fortune's Stanley Bing asks if this platform does society more harm than good. Even if you still plan on using the site as part of your social media strategy it's prudent to be aware of all the uses of Facebook as well as the different opinions being voiced about it.

He writes about Facebook as a place where the ugliest aspects of our worst high school nightmares come to life and fears that the worst perpetrators in this online environment will enter the business world and do immeasurable damage.

"In teaching social networking, virtual presence, aggressive electronic messaging and cold-blooded manipulation of group dynamics, Facebook is preparing young people to thrive in business life, particularly on the executive level. I’m just not sure it’s a future office space that I would want to live in."

What do you think? Is this a business world you want to live in? What can be done?

As the Inc. piece points out, the freedom of not having to answer to shareholders, a board of directors or hundreds of employees can be a benefit of family operations. However, those closest to you are dependent on your success for their own success. For some, that means even more pressure. The best way to handle this situation is to...

"Keep solid books. By incorporating basic financial tools used by other businesses, including balance sheets and income statements that are prepared regularly for distribution among family members. By sharing and analyzing financial data, you can make your business more predictable, and thus more stable. If no one in the family has a knack for financial analysis, establish a relationship with an outside accountant. Over the long term, strong financial will be an absolutely essential tool."

Not only do you make profits and income more predictable, you avoid conflict that can arise when there are mistakes in bookkeeping or accounting that can cost you and other family members money.

Be sure to have those formal meetings we discussed earlier so your planning and strategy is clearly defined and everyone who wants to be a part of it, is a part of it. And don't be afraid to be formal. Heck, this is your company and being in business is a serious thing. Draft agendas, set firm times to begin the meeting and adjourn it. You will be more productive with the way you as well as others, use that time.

When your business is part of the family, family cannot always come first. By putting business first sometimes, you are actually putting family first.

And last but not least, while planning is key for the future. Be sure to always have awareness of the present and operate, both in terms of business and your role within your family, in the sense of today.

Yesterday we addressed the importance of planning in the very beginning of a business. Equally essential to survival is ensuring that every family member who is contributing clearly understands not only what their role is to be moving forward, but also what all other family members' roles are. I think this can also be associated with transparency. In family business, everyone has to be aware of everything, there are no secrets.

Before assigning roles to specific people, first define the roles themselves -- actually write job descriptions. Then begin having discussions as to who best fits the requirements for each position. An expert in the Inc. article also suggests planning formal business meetings to avoid utilizing actual family time as company time. This will blur the lines and lead to confusion and conflict down the road. Don't let the dinner table double as a conference table!

When working on the roles themselves, don't think of the family members first. View the job descriptions and requirements as entirely separate from the family members who will be involved in the the immediate future as well as down the road. Do you want those involved in the business to have a college education? If so, you have to make this a clear requirement from the very beginning.

Setting guidelines for some type of employment policy as a part of a great strategic HR plan will go a long way in avoiding discrepancies in the future. Take the time to define standards for compensation, time off, performance and reviews.

The Inc. article stresses defining compensation over everything else and it makes sense. Money can be the root of all problems for small or family owner businesses.

In his book, The Survival Guide for Business Families, Gerald Le Van stresses the importance of fair compensation. Reasonable benefits should come "along with an understanding of money, it's meaning, its potential, its limits, what is involved in making, spending and saving money…" There is a relationship between money and self-esteem, he notes, and as the manager of a family business, that's something you need to be cognizant of nurturing.

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.

When I say 'small stuff' I'm referring to rules, regulations -- the technical things that tend not to cross our minds throughout the course of our routine days. Today particularly, with so many businesses facing financial strain they don't have the time, resources or staff to pay particular attention to federal and state compliance policies (which are subject to what seems like almost constant change).

But these seemingly small details are of the utmost importance to ensure your operations are in compliance with these things. While they seem like, the "small stuff", if you plan to grow your business, hire, offer incentives to keep your star performers -- you must be aware of changes in regulations all of the time.

We realize not everyone can have an internal HR manager to keep tabs on these types of issues. For this, outsourced HR or having a strategic HR plan that includes an outside consultant can allow you to tap knowledgeable people who are experts in this area, bulletproofing your business and its practices from harm.

Being unaware of federal regulations and changes in them can result in drastic consequences for your business. A business plan for any small business should be sure to include some type of strategic hr plan so these important facets aren't overlooked.

I just received my April issue of Fast Company last night and proceeded to devour the entire thing in about 3 hours. It was chock full of interesting perspectives regarding different business trends (i.e. will FourSquare be the next wave in geolocation, advertising, etc.?), profiles of innovators who have identified ares within their given industries that can be changed to improve them and so much more.

However, my favorite piece was a small opinion column that makes a simple observation and explores its potential consequences.

The key insight: We're absolutely obsessed with leaders, visionaries, founders and entrepreneurs.

The consequence: We've overdone it. Many of these 'idea' people can't actually execute their theories. What about those who can turn dreams or amazing ideas into realities. We should romanticize them as well.

"Our leadership obsession has real, unfortunate effects. We have too many wannabe leaders. This doesn't sound like a bad thing - the next generation should have dreams and ambitions. But which ones? The drive to start, grow, be in charge of something - anything - has spawned a generation of people hunched over laptops at Starbucks yearning for that big idea that will make them the next Larry or Sergey. But not everyone can create the Google of the future, and many of those who don't will think they're failures."

"We degrade the very idea of followers - lemmings! - yet the world needs people who can follow intelligently. I am not talking about mindless armies that march in formation and shoot if their leader points down a dark hallway. The key word is "intelligently." Good followers ask good questions. They probe their leaders. They crunch the numbers to ensure that their visionary boss's gorgeous plan actually works. 'But I want to be Hans Solo,' you say. 'Who wants to be a follower?' Exactly, we don't even have a positive iconic image for someone who isn't a leader."

I think as leaders of companies or more basic, members of the professional community, this is a concept we should be more than aware of but something we should actively think about. Are there ways we can design programs that honor or draw attention to those who have the skills to execute at a high level our entrepreneurial ideas? It's definitely worth some time, reflection and maybe a change to your strategic HR plan, business strategy or business plan. How can you make sure everyone understands how important these 'doers' are?

Here at Milestone Advisors we truly do it all, number crunching and market analysis to create financial models, we fulfill leadership roles such as part time CFO duties, we create plans and help businesses in the execution as well as tracking the results. Whatever the Indianapolis business community needs, we work to deliver customized solutions.

One of our favorite projects to help clients with is building a strategic plan. Why, you ask? The strategic plan is truly the defining blueprint for the future of any endeavor and we love seeing great ideas come to life as they're mapped out in realistic terms. It's all about clarity. How do we get there? 

- We conduct high-level analysis of external elements such as your Industry and Competition.
- We also analyze:
- Core competencies
- Mission, Vision, and Values of your organization
- Business objectives
- Major goals
- Key strategies

Once this 'self-reflection' is completed, an approach to business that is 100% original to you, your vision and company is developed along with actionable steps and plans to put it into place and start generating revenue.

As social media continues to grow by leaps and bounds in its practical applications for business operations and people's careers it's imperative we know as much as possible about the ways in which people use the forums (potential customers/clients included), how they prefer to be communicated with and what their motivations are for spending time on them.

But does Facebook have practical application for those of us working in B2B? Granted, we can all relate to its useful nature for any consumer product -- people love to visit and connect with their most trusted brands, see what promotions are being offered, what new spring line is being revealed or who won the latest contest. I could go on and on but we get it, it makes complete sense for those brands and companies to have a visible presence on Facebook. I, for one, am connected to Ann Taylor Loft across all SM mediums, I can't help myself and I get some pretty great coupons (which of course, lead me to shop and spend there more often than normal but I still sleep at night).

Yet in the same breath, all of us who work in B2B will acknowledge that marketing plans and marketing strategies often look much different than the fun and flash often associated with B2C. Yet, marketers, social media experts and leaders (and market research itself) alike are finding that Facebook has become a great place for B2B operations to be seen.

Follow this link for well done and highly effective Facebook Fan pages that B2B companies have added into their marketing communication strategies, product development plans and business plans to connect with clients in new way and demonstrate they're on top of the trends.

I read an interview with Guy that appeared in the New York Times a couple of weeks ago and thought it pertinent to share. Since entering the workforce and more specifically the world of communications and PR, I have looked to Guy for insight into the way people work and how understanding that concept can benefit the way you do business and simply work, on a day to day basis.

Some of my favorite insights are below:

Sales is everything. As long as you’re making sales, you’re still in the game.

You should hire people who are better at doing things than you are. So, in my case, I was not the warm-and-fuzzy manager, so I tried to hire people who reported to me who were warm-and-fuzzy types to provide a buffer. If you can’t do it, you should find somebody who can.

I learned from Steve Jobs that people can change the world. Maybe we didn’t get 95 percent market share, but we did make the world a better place. I learned from Steve that some things need to be believed to be seen.

Make yourself dispensable — what greater accomplishment is there than the organization running well without you?

Success in business comes from the willingness to grind it out. It’s not because of the brilliant idea. It’s because you are willing to work hard.

I don't think I am going out on much of a limb in saying that many managers, CEOs and entrepreneurs can all find a statement above that rings true or that hasn't already been incorporated into your strategic vision or strategic hr plan, etc. Listening to leaders such as Guy reflect on their experiences and impart wisdom is crucial to our own successes and failures as we grow in our careers and our companies grow. We should consistently investigate what others like Guy have experienced and incorporate their hard-learned lessons into our daily strategies our program management plans and even our financial plans (when appropriate).

Congratulations, your life just became all the more complicated. Beautiful and shared with your best friend, yes, but entirely more complex. Establishing some ground rules to keep your entrepreneurial, creative (sometimes dominating) self might not be a bad strategy to allow for a happy marriage.

Inc. does a great job of tackling issues like this. Here are some rules you may want to consider instituting.

*You're not the boss at home*
You are the driving force behind your company's success but keep in mind there are two, equal entities working together to make your marriage work.

*Set the bar low, but be sure to set it somewhere*
It's hard enough for a couple who both have their own careers to spend quality time with one another, setting a goal to make doing so is key and don't worry, setting it low to begin is okay.

*Please, turn off the Blackberry*
I don't think this needs elaboration or an explanation.

*When a big business decision looms, give your spouse a seat at the table*
This doesn't mean letting them make the choice, it simply encourages you to clue them in and make them feel a part of the process.

*Enter your spouse's universe from time to time*
Your business is a literal part of who you are. If you don't involve your spouse in that side of your identity and attempt to understand their career as well, it will be as if there's a secret side of them you don't know at all.

*Make their communications a priority*
With a limit on both of your time and energy, put your spouse at the top of your call or email back immediately list.

*Don't squeeze them in*
When someone is a priority, you're not trying to combine time spent with them and getting packages delivered or sending emails for work. That would be defeating the purpose.

*Treat your spouse like they're your most important client*
You wine and dine your big time clients to keep them happy and expand the services you're providing them. Shouldn't you make similar and enhanced efforts with your partner?

*Acknowledge their role*
As an entrepreneur and the leader of your own company, you are often the one making connections, deals and in the spotlight. Your spouse might be a behind the scenes force. It's important to acknowledge that effort from time to time.

*Take frequent inventory*
Dedicate time to remembering where you've been as a couple, what you have gone through or experienced and what you have achieved. It will strengthen your bond.

Many Milestone Advisors employees are married with children. We also work with entrepreneurs and small business owners who are as well. From personal experience we believe that it might not be a bad idea to build these tips in to your business strategy or strategic plan from day one of operations.

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.

Local, Indianapolis blogging software company (and Milestone Advisors' client) Compendium Blogware has announced growth of 160 percent for 2009. We have two words. Wow. And congratulations!

Over the past year, Compendium has added 217 new clients, placing their total client count in the 400s. This of course translates into more great news, jobs! To support all of the growth and expansion, Compendium also plans on hiring 50 new employees.

What a fantastic example of one person having a great idea, marrying that with time, effort, funding as well as strategic planning and experiences great success.

Milestone Advisors has been working with the senior team at Compendium for two years, providing CFO insight and leadership as needed.

We commend Compendium for their business savvy, relationship building and marketing communication strategy that have vaulted them to the top of their industry. Enjoy your win guys and know there is much more to come.