Regular guest and Member of the Board Geoff Burch joined Dave for this “Getting Down to Business.” We were lucky enough to have Geoff for the whole show, and he didn’t disappoint. He talked a bit about the process of writing his new book and expounded on some tips from his well-known sales book, The Way of the Dog.
David also provides a small business news update, first looking at the small business optimism index. Good news – it’s going up and is higher than it’s been since September 2008! David cheers us that the economy is moving in the right direction, however slowly. And with it, should return Alaska’s tourism business.
Have you ever considered how important Malcolm McClain is to Alaska? He invented the idea of using containers for shipping, saving companies untold expenses. David’s guest “the Pallet Guy” has taken container to the next level of innovation – climate control. “The Pallet Guy’s” name is Don Harmond and his product is TEDS Box (tracking environmental deviation).
Don started our repairing pallets for airlines, but the TEDS Box has taken his business to the next level. This product actually actively heats or cools the container, depending on the contents. David asks Don to explain the research and development of this new product, and Don elaborates on the regulations, engineering and building of the TEDS Box. This podcast will be useful for any entrepreneur with an idea for an invention and wants to take it to the next step.
In this “Getting Down to Business” show, David Weatherholt is joined by a very special guest – Alaska Governor Sean Parnell. They talk about the relationship between business and government. Giving a short history lesson, David emphasizes the importance of government’s limited role in influencing business and its responsibility to ensure business’s freedom to grow and innovate.
Governor Parnell weighs in with the similarities between running a business and running a state. In fact, he owned his own small business for ten years after learning entrepreneurship from his father and understands small business owners’ challenges. Listen to the podcast below for more stories and observations from the governor.
What does that mean- Dancing with Goats? You’ll have to listen to find out! David Weatherholt brings Brad Bigelow, a founder of Kaladi Brother Coffee, to the show to discuss the history of coffee in Anchorage. Brad started his coffee business in the early 1980’s, and he provides interesting insights into the world of an emerging market.
After Dave’s news update about the optimism index, Geoff Burch joins the show with his “Go It Alone” segment. Geoff talks about some of the crazy things entrepreneurs think they need before they can launch their business- and what they should be focusing on instead.
Dave Weatherholt introduces the topic of “business risk.” He explains there are many aspects to risk, and not all of it is bad (he gives the example of Fire Island Rustic Bakeshop not having enough bread to sell to its many customers). Dave gives small businesses tools and concepts to help them deal with and minimize business risk. Todd Clark, founder and president of DenaliTEK, started his new IT update segment in this “Getting Down to Business” podcast.
There are 10 concepts that describe the “Paradox of Leadership.” These paradoxes help make sense of the sometimes hectic world of entrepreneurship. As a serial entrepreneur, I understand this all too well. The entrepreneurial vision sometimes feels like a curse, and at those times these ten concepts will encourage you to keeping going.
All small business people manage issues that are beyond their areas of expertise. Interior designers need to manage finances. A CPA firm needs marketing. But how can you know you’re making the right decisions? You need a mentor who can help you “Learn How to Fish.”
Learn the benefits of business mentoring for you and read the full article here: Learn How to Fish
Dave interviews the owners of Fire Island Rustic Bakeshop, Jerry Lewanski and Janis Fleischman. The couple opened their bakeshop less than a year ago and share their interesting startup story. They started by completing thorough research, traveling around the United States and visiting successful bakeries. The only thing they didn’t plan for was their immediate success!
Amanda Cullen, small business marketing consultant, joins the group to give startup businesses advice on marketing their fledgling businesses. Marketing for small businesses doesn’t have to involve a large budget, and most of the time, the most effective marketing is quite economical.
February’s issue of Business/News & Views® will provoke you to think differently about your small business.
David Weatherholt knows the way of the entrepreneur is challenging, and sometimes lonely. His “Paradox of Leadership” article has ten concepts that can keep you going, even when times seem tough.
David tells us in his economic summary that this is a, “Slow Motion Recovery.” Read the article for more details.
Amanda Cullen presents her “5 Small Business Marketing Rules” in a new series on small business marketing. In this initial article, she challenges you to take the test and see how your marketing efforts stack up.
Our final article is sponsored by the CEO Club and encourages small business leaders to find mentors. A mentor will hold your business accountable, and help you “Learn How to Fish.”
Lori Davey, owner of Motznik Information Services, joins Dave Weatherholt to talk about buying a used (or existing) business. Lori purchased Motznik and tells listeners the story of the purchase process. She starts out by letting us know, “I sold my airplane to buy my business.”
Dave also talks about how your vendors can help with your financing. For many small businesses, borrowing has become increasingly difficult. Some have developed creative means of raising capital, and Dave has the details.
Joining the show this week is Todd Clark, founder and president of DenaliTEK, one of the leading IT services firms in Anchorage. He and Dave delve into the concept of cloud computing and how it can help your small business. Revolutions in the the IT industry come and go, but cloud computing is an innovative way to increase efficiency and manage budgets in your organization.
Todd also discusses some of the business issues he faces: why he develops client relationships, what DenaliTEK does to keep clients and how they handle losing a client. All small business owners can learn from his candid assessment.
Dave and Geoff Burch, author and international guru, launched a new segment of “Getting Down to Business” called Going it Alone. In his trademark cheeky manner, Geoff encourages entrepreneurs to go out and make it alone. He says of employment, “Who was the first caveman who got another caveman to go out and kill a buffalo for him, then just give him a tiny piece of the buffalo as a wage? When did that start?”
In this first “Getting Down to Business” of 2010, Dave interviews Todd Clark, founder of DenakiTEK, an Anchorage-based IT-maintenance, consulting and technology firm. Todd started the company nine years ago and discusses the road he’s taken to success.
Todd credits a great mission and vision statement with the successful growth of his company. Amanda Cullen, of Zoo in a Jungle Marketing for Small Business, joins the show and discusses how to create mission and visions statements that are effective for the organization along with how to use them as marketing tools.
Dave also gives a news update for small businesses, including tips for how to make your website great.
Dave Weatherholt interviews Kim and Blain Roberts, owners of Westport Winery in Aberdeen, WA. They are passionate about what they do and have built a successful small business. Listen for their advice for other aspiring entrepreneurs.
Accountant Paul Foutz joins the conversation and makes projections for the Alaskan economy. He predicts what businesses can expect in the coming year. This episode of “Getting Down to Business” will be valuable to any small business owner.
Entrepreneurs Sydney Mitchell Dawn Walsh talk with David Weatherholt about their venture: a shoe store for women who love shoes beyond reason. Their store, Shoefly + Hudsons, is in Juneau, AK and appeals to shoe lovers in many creative ways– including hosting private parties.
David also talks economic news, using his experience dealing with recessions to encourage businesses. Paul Foutz joins David later in the show to discuss the Alaskan economy and what’s ahead in the coming year.
David Weatherholt brings on the top franchisors in the state of Alaska: Jerry Kinn, owner of the Carl’s Jr. franchise and Michael Davidson, owner of 18 McDonald’s franchises to talk about the business of franchise.
These friendly competitors discuss the top ten franchise businesses, the benefits of franchising and the changing face of the franchisor.
Is franchising a good fit for your entrepreneurial spirit? How do you get started in franchising? Listen to find out!
How many of you have ever heard of a superhero needing a business plan? The reason you haven’t is not because they don’t need them. The real reason superheroes most often succeed with their entrepreneurial pursuits is because they hire business planning superhero consultants. They get and expect super results because they aren’t looking for the easiest or the cheapest ways. It’s because they know the nine essential personality traits of a business plan superhero consultant.
Do they ask you about you and your business?
Do they have a background in finance?
Are they savvy with marketing?
Do they have experience in business?
What are their academic credentials?
Do they have business writing skills?
Are they reliable and ethical?
Are they experienced and proficient at market research?
Do they talk about success in business and have your best interest in mind?
These are the nine essential personality traits that are critical to success in business planning. The first is the ability of the consultant to look at you as an individual. Can they look you in the eye and meet you face-to-face? Are they able to be genuine when asking you questions about your desires, hopes and passion for your business? Make sure you are comfortable with your consultant and able to communicate effectively. Be sure your values and theirs are compatible.
Does the potential consultant superhero have a background in finance? When hiring someone to lead you in your business planning, you want a person who can develop meaningful financial projections. This means knowing what investors and lenders look for in solid business ventures. The financial section of your business plan provides the most critical data within your plan. It is necessary to hire someone who has the capacity to fulfill this need in your business plan. When you start with solid market projections and use this data to drive the pro forma financial projections and the breakeven analysis, you can begin to see the value of working with a person who has a solid financial background. The success of your plan hinges on the ability to link market data to strategic financial performance.
Has your potential superhero consultant had any business experience? It is so important for your consultant to have been involved in a start-up business in the past. Have they had any businesses themselves or been involved with other ventures which have grown into successful and thriving businesses? They must understand this as well as customer relations. Is your potential superhero consultant prepared to answer such questions as how the mind of your customers affects whether they will buy your product or service?
Another essential personality characteristic necessary is experience with quality goods and services. Has your potential consultant been involved in companies that have stood the test of time? And do they have experience with both large and small organizations?
What are their academic credentials? Real world experience is important but so is education. What degrees do they hold? Do they have a graduate degree and any professional certifications? Check them out and see what they have done with their education.
Largely a forgotten talent, it is important that your potential superhero consultant have experience with business plan writing. Can they write? Can they provide samples of plans they have written? What are some examples of other documents that they have written?
Are they reliable and ethical? Do they understand the real world and deadlines? Get a feel for how down-to-earth and grounded in experience they are. Can they help implement the plan? Do they provide high quality work? Can they provide benchmarks that are practical and consistent?
The last and final talent separates many an amateur writer from a truly gifted business-planning consultant that is the ability to do competent and reliable market research. Does your potential consultant have knowledge and ability to conduct effective and accurate market research? Will they provide you with accurate data that will be critical in assessing the competition and aid in the growth of your business?
Success in business requires planning, focus, execution, hard work and a little luck. Business planning is a key component of any business’s success. For example a properly developed breakeven analysis will provide a visual picture of the risk and reward your idea or concept faces. This is why choosing the right consultant is so important. When you choose one that is a superhero, you know his skills are based on strong business philosophy, financial analysis, and projection experience. The real superheroes have an understanding of broad general business concepts and a rich array of industry specific knowledge. This alleviates the possibility of industry-specific blind spots, and allows your superhero consultant to objectively analyze the industry and provide innovative solutions. Getting a high quality business plan starts with hiring a business planning superhero consultant!
Many of you know that starting a business takes hard work, long hours, low pay, and a lot of sacrifice. In fact, only five of every ten businesses will survive their first five years. It’s easy to look around and see examples of dying businesses and even ones that are thriving. However, these are extremes and easy to notice. What the public (and new business owners) don’t get a chance to see are the business owners who are plodding along, making small inroads, and making their dreams happen because they had a fantastic business plan.
Most successful entrepreneurs are highly motivated, focused and full of intention. Having a thoughtful and professionally written business plan will tip the odds in your favor. There are fifteen “must haves” for a good business plan. Each one takes time and thoughtful reflection to be done well. The first is a qualified business-planning consultant. When you hire a fully qualified business-planning consultant much of the stress of wondering whether you are fully informed about your market, product and future earnings will be alleviated as you turn over that task to a professional.
The second “must have” for a business plan is an executive summary and business concept. The executive summary is a statement of purpose and general overview of your plan: concept, product/service, market, operations, management, your company and the industry. Your business concept includes your mission statement, your background, current status, and future plans.
When describing the industry your business calls home, it is important for you to look for the characteristics, the participants and the trends that make your business unique.
The product or service you provide is often the focal point of any business. What is needed is a simple
explanation of the product features, the customer benefits, the stages of development, and future products and/or services.
Next describe the facilities in where your business will be located. You will describe the business location, any special transportation routes or vehicles needed, what the labor pool or employees consists of, and the availabilities of utilities to meet your needs.
Marketing is a key component to business success. Analysis of target markets will bring many important insights. When you profile target customers to understand the total person and their motivation for wanting a product or service like yours, you begin to understand how you can best serve that customer’s needs. Looking at market share, trends, and growth potential is an important part of the process.
A large portion of a thorough marketing summary includes the competition analysis for your business. What is your competitor’s profile? How does your product or service compare with that of your competition? Do you occupy a particular market niche? Is it possible that you share a segment of the market with another company or business? Finally, what are your strengths and weaknesses in relation to those of your competition? When working on the marketing piece of your business plan, a good one will have market penetration goals. It will cover pricing and packaging of your product or service. In addition it will include advertising, public relations, and promotions.
When planning the business structure and organization of your business, the management and ownership of the business are crucial. What type of business structure will you work from? Will you be an LLC, S-Corp, C-Corp, partnership, or sole proprietorship? The list goes on and is worthy of some investigation. Who will manage your company? Is there a board of directors? Who owns the business? Are you or your business a member of any supporting professional assistance programs? Answering these questions will give you a clear picture of how your business will run.
Financial data and projections of your company are critical for assessing the outcome of your business. What is the source of funding for a start-up? Does it come from an owner, partners, stockholders, loans, or venture capital?
What do you plan to do with the money that is allocated? What are your business’s needs for start-up costs? Does the money you plan to have from the beginning cover your plans for expansion of the business? Will there be new construction? It’s also important to think about what equipment you need to successfully begin running your business. Do you have a budget set aside for your needed marketing campaign? Do you have enough working capital to draw from for any of these scenarios? For projected or pro forma financial performance, do you have detailed assumptions, a pro forma balance sheet, a pro forma income statement, or measures of performance?
In the final section of your business plan you will include supporting documentation which will add support to your plan. There are four areas to this: company and product/service support material, legal support materials, market support materials, and business structure and organization. When providing the company and product/service support material, the product and equipment specifications sheets may be helpful. In addition, photos of product, equipment, or facilities can be included.
This article has provided a template for creating a great business plan. Now start evaluating your mission, purpose, values, and motivation for launching or expanding a business. Then begin writing. Once it is complete, your business will have a schedule and plan, strategy and road map to the future. This will enable the plan to grow and change with your business as it becomes more successful.
Having a great strategy is only the first step of a successful business. Dave’s show this week is about putting legs on your strategy and giving you tips for effective implementation.
This path followed, sometimes reluctantly, by brave or desperate individuals driven to make a difference can have a dramatic impact on not only themselves, but sometimes their community and even the world. True entrepreneurs, like heroes, often are simply trying to survive using their own instincts, which can lead to astounding feats while all along they are simply doing their jobs. Setbacks, recessions, down cycles, or just plain bad luck can either defeat or inspire the choice made at an individual level. The choice to move forward (choosing inspiration) requires taking that first step, then the next, and so on until you reach a different point from where you started. This, in a nutshell, is what entrepreneurship is all about, simply doing what it takes to survive. How many businesses do you know of that started this way?
Business innovation takes place all over the world. In Vietnam during the war, I found myself driving a large truck in a convoy that strained under heavy loads to climb the steep grade of An Khe Pass. The pace was so slow that you could literally walk to the next truck and borrow a cigarette. The trucks labored in the sweltering heat to reach the summit of the pass. The trip was long, hot, and treacherous, however, at the summit, in the middle of nowhere, was a vender selling cold drinks. In a war zone, on a road that snaked its way to the Cambodian border in the heart of North Vietnamese Army (NVA) controlled areas in sweltering heat and humidity with no electricity, stood a man and women next to an ice chest selling cold drinks to thirsty drivers. They didn’t do this just to see our smiling faces but were driven by necessity.
Their necessity sheds a different light on our current economic downturn. Many of us are experiencing real pain and anguish over our businesses. Waking in the middle of the night straining restlessly to figure out how we will make it through another day. This is the fertile valley of innovation and many of you are coming up with truly inspiring ideas.
The enterprising owners of a women’s shoe store located in Juneau, Alaska developed the idea of using their store for birthday parties. Their website claims; “You can schedule your own shoe party after-hours at Shoefly + Hudsons! It’s a great idea for celebrating birthdays, wedding parties, summer and more. You bring your own food and drink, and we provide shoenistas and shoes!” This idea created a whole new revenue source with very little in the way of costs.
The innovative owner of ESSpa and Organic SkinCare located in Pittsburg, Pennsylvania needed a quick cash infusion. In a single day she raised $30,000 by pre-selling spa services at a discount. A dentist who developed a “Dentspa” states on their website, “State-of-the art technology, a warm, inviting atmosphere, and an array of spa amenities combine to provide you the highest quality care in the ultimate relaxation setting.”
This is another example of a truly different and innovative spin on a routine business. Then there is the story of an entrepreneur who sold high-end designer t-shirts very successfully, but the economic downturn slowed business to a trickle. They spurred sales by using an innovative discount tied to the Dow Jones Industrial average combined with steep price reductions. Not all changes result in immediate success but taking action is the most important step. What can you do differently with your business?
Is there a new market for your products or services, or possibly a different business opportunity out there that you haven’t considered? Changing your business model is not always a bad idea. Every business that successfully makes it past their first five years usually has changed significantly from the business that it started as. In the beginning of a business, product or service knowledge was your advantage but now that you have demonstrated success operating a business, look for ways to replicate that success using your business experience to engage in and promote other business ideas and opportunities. Tell me, what ideas have you tried or have heard about?
The July 2009 issue of Business/News & Views® is full of optimism and helpful tips for small businesses. David Weatherholt reminds us that necessity is the mother of invention and provides rich examples to inspire entrepreneurs and small businesses. Amanda Cullen has an article on the power of passion in marketing design– and reminds readers that passion is nothing without purpose. In Internet Tips & Tricks, you’ll read how to use MySpace to promote your business.
For Independence Day, Dave spoke about some of his favorite American entrepreneurs and small business people. Then, some breaking news surprised everyone that the state’s governor, Sarah Palin, would be resigning from office in two weeks. Dave and his producer Kathy react to the news with analysis of what this means for Alaska.
In the June 2009 issue of Business/ News & Views®, David Weatherholt delivers a stirring op-ed to see the opportunity for cutting costs in this recession– there’s never been a better time to trim fat. Amanda Cullen explains how your existing customers create new customers for you. The Internet Tips & Tricks feature provides advice for small businesses on getting more websites to link to their websites.
If you are out of work, rather than look for another job, maybe you should consider starting your own business. Look inside yourself for something you are passionate about– maybe a hobby. Now, go through the planning process and work toward your new goal. You may be pleasantly surprised about what happens. What do you think?
An informative monthly newsletter loaded with solid advice and down-to-earth lessons on how to succeed in your marketplace. Our goal is to stimulate your creativity and provide the courage and knowledge you need to move to the next level in your business.
Editor David Weatherholt brings you business ideas, economic news and views from across the business community. We're proud to bring you advice you can use.
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David Weatherholt brings on the top franchisors in the state of Alaska: Jerry Kinn, owner of the 
These friendly competitors discuss the top ten franchise businesses, the benefits of franchising and the changing face of the franchisor.
