Often times, in this world of specialization, we fail to recognize the added value of our business relationships – outside of their specific functions.  For example, a CPA (especially for those considering a startup enterprise) can be a valuable relationship, beyond the accounting services they provide.  They often have shared insights, based their client experience, in areas such as: marketing, sales, technology, to name a few.  These insights may be at a cursory level, but they can be valuable (direction giving) to an entrepreneur.

 That is why when I founded LTS Advisors, LLC; I wanted to create an entity that took advantage [while simultaneously giving an advantage to our clients] of a combination of skills, obtained through over twenty of Fortune 100 financial services experience.

 That is why, when a client comes to us for a business plan, operational strategies, business or financial analysis; we also provide leadership and management assistance, as it relates to their specific needs.  Sometimes this is done formally, with additional services, but many times it is included indirectly – as we generate a business or operational plan – our focus included the leadership and management techniques needed to implement them successfully.

 It is a slightly more complex formula than the traditional business consultant model; however, we find leveraging related skills creates a more holistic, comprehensive and successful approach, leading to better results.

 That is why LTS believes that “learning to succeed” skills (communications, leadership, management, etc.) need to be in the repertoire of any successful business consultant’s program.   

As we all know, social media is today's growing venue to find customers/clients.  In this April's edition of Inc. Magazine, there is an interesting article about the decline of bogging, and the growth of other venues like Twitter and Facebook.

Although companies actively using blogs has declined from 50% to 37% from 2010 to 2011, it is interesting that 92% of companies with blogs consider the platform a success.

Our take on this; all socia media, when done correctly, can build brand recognition, establish your credentials, and attract clients/customers.  We also believe (and this is an LTS view, not necessarily the view of the article), is that blogs are more professional in perception and can be more detailed.

In any case, don't forget social media as a business tool - you need to be there!

We are LTS Advisors, LLC
http://www.learntosucceed.biz

As we all know there are no real "born leaders" in a strict sense; rather we have individuals who (through experience or learning) have developed skills essential to this valued trait.  Here is a quick quiz:  Do you know the two generally recognized characteristics of leaderships, and the traits they include?

Scroll down for the answer .....







The Two Leadership Categories:

Instructive:     Setting Goals, Creating Plans, Defining Roles, Evaluation, Documentation, Prioritizing.

Sustaining:      Listening, Explaining, Recognizing, Understanding, Questioning, Empathizing, Sharing.

                                                                                

 

1. Plan – Take the time to understand the mission, develop a thesis based on an objective evaluation of the facts.  Set realistic goals and objectives, with the proper metrics and milestones to judge them.
2. Organize – making sure those operational details are in place to execute the plan, this also involves the correct allocation of resources (human, technology, other) to accomplish the mission.  
3. Lead – Keeping the big picture in mind, and dealing with change as it occurs, it is about empowering the organization (or yourself) to execute the strategic as when as the tactical.
4. Control – This involves honest, and critical, evaluation of how well things are going.  It may require everything from a few minor changes (to the plan) or a wholesale reevaluation  of goals and objectives.

In the Dec/Jan issue of the New York Enterprise Report, you will find an interesting piece titled Update Your Digital Marketing Strategies, by Michelle Court.  The article can be found at nyreport.com/current_issue.

We found useful advice on the following topics:

• Search Engine Optimization
• Paid Search Management
• Social Media
• Email Marketing To Help Your Business Grow (Connect, Inform and Grow)
• Connecting with Existing Clients (i.e. newsletters that are SPAM compliant)
• Use Valuable Content to Inform (near the top)
• Use Statistics to Grow Your Customer Base

We believe the article is a valuable read.

• First, remember you’ll only get a few seconds to connect with a prospect or lead.
  
• Create a compelling introduction or catch phrase
• Understand your pitch early in the process, don't sell products and services, sell your credibility and eventually (if not on the first call) get that face to face meeting.
• Know your audience, target the right prospects. Utilize resources like business associations, chamber of commerce or the news media using press releases.
• The best time to make contact is early in the morning. Don't leave messages with "gate keepers" assistants, admins.
• Engage in a dialogue and listen.
• Follow up with a thank you note – or an e-mail, if you must. Include a restatement of the prospect’s concerns, an appropriate value proposition, etc.
• Be patient and persevering. Only a small percentage of the contacts will turn into prospects or sales.
  
• Make certain all online references about you – social media, Web site and press releases – are professional. Once a prospect is interested in you, the person will search your name on the Internet. So do the footwork now.
  

What a comprehensive Business Plan can do for you in the hunt for Venture Capital:

At LTS we believe that clients should utilize a clear, concise and compelling business plan.
Our business plan development strategy includes the following key elements:

• Researching the market place and the industry you want to enter.
• Evaluating market and competitor data.
• Explaining, reinforcing and validating your company's business model.
• Clarifying your potential market opportunity, and describe the needs your company will address in that space.
• Outlining clear business objectives and goals; establish appropriate milestones and metrics.
• Widening appropriate business strategies and tactics for expansion.
• Reinforcing services and products via marketing, operational and/or financial management.
• Creating sales projections, related assumptions and financial statements.
• Utilizing your business plan as an organic management tool.

We are LTS
Learn more about what we do, affordably and professionally.

Just like atmospheric temperatures on a weather instrument, or paint colors on a palette, the elements that lead to success can also be placed on a gradient.  From the pale to the more rich, success happens gradually and has important elements that help achieve the intended results. 

At LTS we believe it all starts with well identified opportunity, serving a need via a product or service.  From there objectives kick in, well defined, focused, tested and specific.  Now we conduct the build out, how it gets done; by adding knowledge, effective tools, appropriate resources, the key structural elements are in place to create outcomes.

 From this point it is about execution.  The venture, and its’ human components, need to demonstrate the prescribed commitment, process and action plan – that will ultimately determine whether the end results are highly correlated with the original opportunity and objectives.  

 Remember, success doesn’t just happen over time, it occurs on a scale.  At LTS we believe in the “success gradient” and we believe you should also.                                                  

At our firm, LTS Advisors, we have noticed an alarming trend among aspiring small business aspirants; a preoccupation with process.  From apps, to the i pad, the cloud, content integration, content, e-marketing, etc., - well it just gets overwhelming.  But even more dangerous than the brain freeze it can create, it can stop you from understanding core competencies and tradition, time tested, business practices.

So here are some things to keep in mind:

1)      Having a business plan, regardless of its format or where it resides, doesn’t mean you have a business.

2)      A business, strategic or tactical operation plan is only as good as the product or services you are selling.

3)      Before investing a penny (as well as time and energy) on any application, template, consultant or product; conduct your own “on the ground” research to have an empirical understanding of what you are selling – and if it has a reasonable chance of success.

Lastly, and maybe this is not what people on this discussion board would want to here, but it is true; not everyone can be (or should be) an entrepreneur.  It is not an alternative to being unemployed, or something to do when your kids finally leave the house.  A startup is hard work,  and be prepared to work hard – no quick fixes here.

We are LTS
Learn more about what we do, affordable and professionally.

http://www.learntosucceed.biz