Category Archives: Enterprise

Prism Business Development - Aligning to Achieve Sales

Marketing Responsibilities

Marketing’s Responsibilities include:

Strategic

  • Identify New Market Opportunities
  • Perform Market Research Proof-of-Concept for each Market Opportunity
  • Assist in Selecting Best New Product/Service or Initiative

Operational

  • Joint New Product/Initiative Chartered Team
  • Company Identity / Branding
  • Go-To-Market Plan
  • Product Identity / Branding
  • Sales & Sales Support Model
  • Assist Field Operations Channel Engagements
  • Target Ideal Customers
  • Demand Creation à Drive Migration from Unknown to Awareness, to Consideration, and to De-Facto Standard Customer Industry Recognition
  • Manage Lead Tracking
  • Arm/Enable Field Operations Channels
  • Assist in Field Operations Execution
  • Monitor Market Acceptance & Drive Corrective Action
  • Assist Field Operations in Problem Escalation
  • Management Reporting

When Does Marketing Lead the New Product/Service Initiative

  • Prove New Idea / Innovation
  • Marketing & Product Development
  • Early Sales & Manufacturing
  • Selling but not yet turning a profit
  • Expansion investments for Profitable Company
  • Going Public

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Need additional information, contact Prism Business Development Marketing@PrismBusDev.com(720) 304-2784

Entrepreneurship/Intrapreneurship Step 1 – Innovation & Serving Ideal Customer Communities

Step 1 – Providing Innovative Products and/or Services to Ideal Customer Communities!

What is an entrepreneur?  The entrepreneur is the person who can take a seed of an idea and create and orchestrate a new (startup) enterprise to apply the idea to serve a customer community by providing a solution to a problem the customer community has to make a profit.

A CEO is the person responsible for leading an organization to achieve business objectives, typically profitable revenue growth.  The CEO must lead his/her organization to apply their assets to bring new products and/or services to market to serve customer communities for a profit.

The only difference between an entrepreneur and an established enterprise’s CEO is the available assets, degree of focus and degree of organizational agility their respective organizations have.

We have observed that startups and enterprises wrestle with the question, “which comes first the seed of an idea or the identification of a customer communities’ problem”.

The answer is obvious when the entrepreneur or CEO is a member of the customer community, knows the customer community operation, recognizes the problem and perceives the seed of an idea that provides the solution to the problem “Necessity is the Mother of Invention”

The answer is not so obvious when the seed of an idea comes from technologists that have discovered a disruptive breakthrough in the current thought/belief framework in order to bring about improvements.  Sometimes this situation is referred to as a “solution in search of a problem”.

More often than not, even when the seed of an idea comes from a technologist, the research and development that the technologist is involved in has its roots in the scientific endeavor to form hypothesis to overcome limitations and solve a technological problem.  This includes Thought Experiments to hypothesize operational (functional) improvements to be derived.  Whether the seed of an idea and eventual invention solves the R&D problem fostering the R&D work or not, is where Necessity is the Mother of Invention may lose the thread of the logic back to a customer community to be served.  Oftentimes, the invention has multiple uses and it becomes the entrepreneur’s responsibility to identify ideal customer communities that can be served that provide economic justification for starting a new successful business.

So we are back to the fundamental (chicken or the egg) question, which comes first the seed of an idea or the identification of an ideal customer community to be served by providing a solution to their problem (a purpose).  We submit that innovation is always couched in the context of ideal customer communities ability to improve their operations.

Startups typically come from the perspective of a seed of an idea that may or may not have an ideal customer community identified, whereas established enterprises start from the perspective that they already serve one or more ideal customer communities and are looking to expand their ability to further serve their existing customer communities and/or penetrate new customer communities with the a new version of the products they make.

Either way, having a seed of an idea and not being able to identify ideal customer communities that will use your invention or product, is like the proverbial question “If a tree falls in a forest and no one is around to hear it, does it make a sound?”

Entrepreneurs are looking to create a new highly successful business enterprise, whereas high growth established enterprises are looking for the opportunity to apply their assets to expand penetration and business expansion in serving their ideal customers.  Both are looking to serve ideal customer communities with innovative new products and grow their businesses (make a sound).

Whether you are an entrepreneur developing a new business and/or a strategic business developer of an established high-growth enterprise, your objective is to foster innovation to be able to deliver high customer value products to serve ideal customer communities.  To be able to achieve this objective requires that you perceive an innovative way (use of your product) for an ideal customer to perceive sufficient value (realize improved operations) to be willing to pay for your product such that you can earn a profit.

Process to Convince Stakeholders You Have a Viable Business Opportunity and to Commit Their Resources!

Entrepreneur – Process to Convince Stakeholders You Have a Viable Business Opportunity and to Commit Their Resources!

As an entrepreneur you must convince yourself and other stakeholders that you have a business.  Stakeholders include customers, engineering, manufacturing, distribution, marketing, channel, service, finance and funding partnerships.  Stakeholders expect the entrepreneur to have done all the homework necessary to provide them the information they need to be able to commit that they can perform their necessary tasks to build the business.  For instance, once a high-level product functional specification has been developed, then and only then, can engineering determine if they can commit to design such a product.

As an entrepreneur, you need in know in which order to convince each stakeholder to commit to be able to perform their specific tasks.  This requires that you understand the sequence of steps and the information needed at each step, to enable each stakeholder to commit to be able to perform their specific tasks.  When you complete the journey, having obtained commitments from each stakeholder, you will have arrived at the point where you can defend with confidence that you have a viable business opportunity to the entire stakeholder team.

Proven Step-By-Step Process to Convince Stakeholders

Prism has worked with entrepreneurs, cross-functional teams, strategic partners, channel partners and the investment community to develop its proven step-by-step Process to Convince Stakeholders that a Viable Business Opportunity exists.  Prism invested in developing this process in order to enable entrepreneurs to obtain stakeholder commitments at each step that leads to a final determination that they indeed, have a Viable Business Opportunity.  Once the final step is completed, and all stakeholders agree that “You Have a Viable Business Opportunity” worthy of investing their resources, the next step is to charter, staff, fund and give the go ahead to execute the new business venture.

Prism provides services to guide entrepreneurs through the Process to Convince Stakeholders as well as assistance at each and every step as needed.  These assistance services are provided as needed based upon the background experience and expertise of the entrepreneur.  For instance, dialogue with customers involves delving into each customer’s unique situation to determine if the innovation would improve their business, what the impact would be and what the value would be to that customer.  In addition, the customer dialogue would include refinement of the product requirements, preferred method of acquiring, supporting, installing and maintaining the product.  Lastly, the customer dialogue would include Beta Test, agreement to be a customer referral, success story PR releases and possibly even customer financial partnership investments.  Prism provides entrepreneur assistance for dealing with strategic customer, engineering, manufacturing, distribution, marketing, sales/support/service channel and angel investor relations.

If you need assistance in convincing stakeholders “You Have a Viable Business Opportunity”

Contact Prism to get immediate results to “Convince Stakeholders You Have a Viable Business Opportunity” ConvinceStakeholders@PrismBusDev.com or call (720) 352-3407

“Do You Have a Business” – Prism Strategic Marketing Workshop

“Do You Have a Business” – Prism Strategic Marketing Workshop

Prism has developed its “Do You Have a Business” – Prism Strategic Marketing Workshop (PSMW) to provide the tools and processes necessary for entrepreneurs to increase the probability of success in starting their new business.

Research has shown that those entrepreneurs who have successfully completed the PSMW gain clarity and focus on the steps they need to take to build a successful new business.

If and when you need to acquire additional funding for your new enterprise, you will find that PSMW provides the necessary and sufficient answers to the questions angel investors require for them to feel confident of your success.

In addition, as you add founders and staff, you will be able to convey to them with great clarity as to your enterprise vision. This will enable them to focus their efforts more acutely on your achieving market place success, revenue growth and profitability in the shortest time.

Given entrepreneurs are resource constrained, this clarity and focus draws a straight line to success most effectively and efficiently as well as minimizing risk of failure.  Whether you are starting from a technological breakthrough, an idea as to how to improve a process, or from pure entrepreneurial passion, the PSMW will lead you through the necessary and sufficient processes to bring about the clarity and focus you need to ensure you are on the path to success.

The PSMW is a two day intensive workshop where you will learn concepts, have reference examples, and use templates to create your own strategic marketing plan. Your plan will be reviewed right on the spot and you will be coached by experts to have you successfully complete the exercises. The PSMW experts are successful serial entrepreneurs who are eager to ensure your success! If you experience difficulties, the experts will coach you through the processes. If for any reason you still need assistance, you will be referred to PSMW resources having expertise in the area where you need help.

To find out more about PSMW contact the following:

PSMW@PrismBusDev.com
PSWW-Course-Outline@PrismBusDev.com
Registrar@PrismBusDev.com
PSMW-Resources@PrismBusDev.com

Or give us a call (720) 304-2784 or (720) 352-3407 Workshop Field Office and ask for the

PSMW Coordinator.

Strategic Marketeer Skills & Personality Profile

Strategic Marketeer

Skills

  • Technologist
  • Business Process Engineering
  • Project Management
  • Selling – Educating
  • Motivating
  • Leading / Following
  • Socratic Method & Asking?
  • Listening
  • Perceiving Customer Need & Fit
  • Communicating
  • Strategic Marketing Competence

Personality Characteristics

  • Curiosity – Seeking to Learn and to Understand
  • Openness
  • Confidence
  • Desire to Serve Customers
  • Trusted Advisor
  • Ability to Focus
  • Leadership
  • Strong Intuition
  • Analytic
  • People Oriented
  • Aptitude
  • Attitude
  • Comfort Levels  – People Oriented, Need to Discover , Understand and Serve

Program Manager

Program Manager is a senior leadership position, having the responsibility to form and lead a cross functional team to bring innovative, high-value products to market, capture market share, achieve revenue, and profitability objectives.  The Program Manager identifies ideal customer industries, understands the customer needs, and aligns and drives the entire organization to deliver against the promise to optimize the customer experience.

Key success factors include:

  • Focus on ideal customer industries
  • Know the customer’s requirements
  • Forming cross-functional team with the charter to fulfill the customer’s requirements.  Where cross functional team Includes: Engineering, Manufacturing, Distribution, Marketing, Sales, Service and Admin
  • Driving the cross functional team to deliver against the charter to optimize the customer experience
  • Continuous monitoring of product market acceptance, taking corrective action as needed
  • Involving senior management in high visibility opportunities
  • Regular periodic reporting to senior management on the Program’s successes/failures, difficulties and next steps

Program Manager – once the organization has agreed to serve a customer community, the Program is chartered (operational plan developed and resource allocated), and then, the Program Manager takes on the responsibility for delivering the strategic objectives and operational goals.

Given these challenges, in order for a Program Manager to be successful, requires that the person:

1)    Owns the Vision and Program Execution Success, is the go-to-person who makes things happen… “The Buck Stops Here”

2)    Has the expertise to lead the cross-functional team in assigning stakeholders, gaining ownership to responsibilities, knowing team interdependencies, and committing to achieving the Program Vision and Execution Goals

3)    Has the following skills sets: excellent cross functional team member selection, team building, execution monitoring, root-cause analysis, corrective action, coaching/mentoring/training and communications

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If you would like to know more about our Program Manager coaching, mentoring, training and staff augmentation services, call us at (720) 352-3407 or email us at mailto:ProgramMgr@prismbusdev.com.

Trusted Advisor Business Consultant

Trusted Advisor is an Interpersonal Relationship Role

A Trusted Advisor is a person that is recognized by another person as an individual that they can share a situation, their interpretation of the facts and conclusions they have reached with, and expect a critique of their thought process, recommendations for other alternatives to consider and/or confirmation that they have reached a sound conclusion. The Trusted Advisor is a sounding board which has proven to a critical thinker capable of assisting others in making better decisions. The Trusted Advisor is considered someone worth listening to provide good common sense advice. The Trusted Advisor is expected to apply their experience, knowledge, skills to provide insight as to the handling of challenges others face. The person putting trust in the Trusted Advisor is in effect transferring some responsibility for making a decision to the thought process of the Trusted Advisor. Therefore, the Trusted Advisor is sharing in the responsibility for drawing the conclusion and making the decision. Typically the Trusted Advisor has set the expectation of the consequences of the decision. If the consequences do not occur, the trust level is diminished. Therefore, the Trusted Advisor takes on the responsibility to watch over the situation to ensure that the desired outcomes occur and any promised benefit derived. When the situation requires others to perform in order to derive the consequences and benefits, oftentimes the Trusted Advisor becomes a cross-functional team Program Manager to shepherd the team to stay focused in order achieve the desired outcomes. The Trusted Advisor is not only responsible for assisting in making right decisions, but may, also be responsible to see that the decision implementation is executed correctly. The Trusted Advisor’s delivering promised consequences and benefits, is the final proof that as their role as Trusted Advisor can be relied upon to deliver results.

Sales professionals that take on the role of Trusted Advisor state that they are “Business Consultants” and not product/service providers and/or Sales Representatives and/or Sales Engineers etc. Trusted Advisor Business Consultants approach sales situations by first doing a great deal of homework about their customers in terms of their industry situation, business model, mission, values and vision in order to frame how best to evaluate the customer’s situation and making recommendations as to courses of action. Furthermore, Trusted Advisors invest in getting to know the customer’s organization, strengths and weaknesses. As Trusted Advisor Program Managers they keep the implementation team focused on delivering the results. The Trusted Advisor is like a Program Manager, taking on the execution management for the entire life cycle of an Initiative.

Trusted Advisor Business Consultants help their customers perceive their needs and envision solutions. It has been shown that on average 80% of the time managers have not perceived that they have a solvable problem and believe that they must just live with the situation. This is especially true when the Trusted Advisor Business Consultant is introducing innovative new capabilities, simply because people are not yet aware of the capabilities and positive impact they may have on their organization’s situation. Once capabilities and the benefits are well known in the marketplace, the customer is already exploring the market for providers to satisfy their need therefore, the Trusted Advisor Business Consultant has higher customer value at early stages of technology advancements etc. The Trusted Advisor Business Consultant provides the highest customer value when company executives are struggling with ways to improve operations in order to move their organization towards achieving their mission and vision.

If you are a provider of innovative technology wishing to make major sales with high margins, please email us or give us a call to learn more about having your sales professionals become Trusted Advisor Business Consultants Trusted-Advisor-Business-Consultants@prismbusdev.com (720) 352-3407.

Innovation Adoption Services

Innovation Adoption Services

When introducing Innovative new products and/or services… capabilities to new markets that need to gain rapid market acceptance here are the following steps:

    1. Select product/service capabilities to address market segments that will provide adequate revenue and profit streams to meet your enterprise’s business needs and that you can reasonably serve.  (Refer to SMP – Application Identification & SMP – Product/Service  Selection Evaluation Review)
    2. Understand the Crossing the Chasm Technology Adoption Life Cycle model:CrossingTheChasm

      Source Rethinking Crossing the Chasm Alex Iskold August 6, 2007

    3. Identify Early Adopter (EA) Market Makers (MM) where you suspect the EA is a visionary and would quickly see a strategic advantage in availing themselves of your capabilities for the exclusive access to capabilities for a limited time.
    4. Assign a Solution Selling Professional to develop EA-MM Strategic Partnerships -  develop the EA’s vision, obtains EA’s Market Requirements and one or more of the following coupled with agreement to Public Relations news release and a agreement to provide a success story.  (See SMP – Market Requirements Document, SMP – Promotion Plan, SMP – Market Introduction News Release, SMP – Success Stories [and Ghost Writers], SMP – Landing Pages and SMP – Social Network Publishing):
      • R&D Funds – strategic R&D investment
      • Beta Testing – with customer paid for products and/or services
      • An order  to procure the products and/or services
      • Letter of Intent to procure the products and/or services
    5. Assign a Program Manager to Develop and Execute your Go-To-Market plan based on Market Requirements Document including:
      • Product Management – Packaging & Pricing
      • R&D
      • Manufacturing
      • Distribution
      • Sales, Support & Maintenance Channel (Beta Test Enablement) Services
      • Problem Escalation – Access to Management & High Priority Resolution
    6. Assign a Relationship Manager to Enable and Manage Channel Sales, Support & Service Partnerships to serve Beta Test(s) EAs.
    7. Assign a Marketing Communications Professional to Develop and Execute the Public Relations Promotion Campaign. Target other Early Adopters and Early Majority Pragmatists (See SMP – Promotion Management and
    8. Assign a Relationship Manager to Enable and Manage Channel Sales, Support & Service Partnerships to serve entire market segment. Target other Early Adopters and Early Majority Pragmatists coverage full on sales campaign
    9. Program Manager monitor market acceptance, escalate and resolve problems, and inform management of successes and failures, work with finance to report tracking with Operational Plan to achieve financial goals.

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Good Follow-Ship Attributes

Good Follow-Ship Attributes

  1. Recognize the Leader
  2. Accept Follow-Ship Role
  3. Listen and Embrace Leader’s Vision, Way and Plan
  4. If disagree, feel put at risk, violates fundamental values, or see a better Vision, Way and Plan… Have the Integrity to State Clearly to Leader Your Recommendations for Improvementdo not lie and appear to agree when you do not agree, and then not take responsibility for your role, and therefore undermine the team’s success!
  5. If Leader does not modify Vision, Way and Plan, and does not violate your fundamental values, Accept the Leaders Direction and Follow Orders
  6. Be Supportive of Leader’s Role, Vision, Way and Plan
  7. Be Responsible for your Followship Responsibilities, Duties and Actions

Hardcopy version

 

Comments welcome!

If you have questions and/or need assistance contact us Followship@PrismBusDev.com or call (720) 352-3407.

Leadership

Leadership Attributes:

  1. Recognition of a Group Need to Take Action to achieve an Objective… time has come for Action
  2. Recognition of a Lack of a Leader… no one else is leading
  3. Undertake the Role as the Leader… had no choice but to step up to the plate and Take the Lead
  4. See at least one Way or a Plan to achieve objective
  5. Direct group members in What to Do
  6. Give the Order to Execute Plan
  7. Monitor team execution, difficulties encountered and Direct them to Take Course Corrections
  8. Be Responsible for the Group’s Success
  9. Be Accountable for Leadership Responsibilities: vision, plan, execution and group success
  10. Recognize and Reward group members for their Individual Successes and importance to Group Success
  11. Step Aside when Group Has New Objective and You No Longer Can Lead

Hardcopy version

 

Comments welcome!

If you have questions and/or need assistance contact us Leadership@PrismBusDev.com or call (720) 352-3407.

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