In this crucial section of the book, we really jump into the nuts and bolts of how to change a printer into a marketing service provider. And we start with a thorough business plan. A business plan is important for a couple of reasons. Primarily, it offers direction and guidance, something that is of the utmost importance when you are essentially creating a new business entirely. It is easy to get lost in your own shuffle, having a structured plan on paper will keep you on the right track. Additionally, having a professional, thoughtful business plan can be useful when trying to acquire funding from a bank or venture capitalists.
After it’s written down, you need to do some soul searching. Are you the right one to lead the transformation? Understand your strengths and weaknesses. Maybe you would be better suited staying on the printing side of the business while some new blood spearheads the marketing efforts. As long as you are comfortable in your role and confident that you are the best at what you do, then you are doing the right thing.
In my time in this industry, I have seen some businesses with no business plan. Many printers have been family run shops passed down through generations. And many printers are inherently local. There was no need for a business plan. The market was small, and people understood what they offered. Marketing was a simple task. Of course, this is no longer a functional method. The times have changed. A business plan is now essential to survival.
In the chapter, I offer a step-by-step breakdown on the transformation. Here is a brief outline.
- Make the decision.
- Evaluate the current clientele.
- Determine exactly what services you plan to offer.
- Write your business plan.
- Look for integration.
- Look for accessibility and support.
- Hop on board the learning train!
- Practice what you preach.
You can receive more information on these topics at my website, www.NewPathToProfit.com.
There are a wide range of services you can now provide as a marketing services provider. You can offer consulting services, creative services, campaign deployment, personalized URL’s, QR codes, and much more. And then you need to price all of these out.
All of this needs to have a home in your business plan. A market analysis is very important. Find out what vertical markets or specific industries you will pursue with your marketing services. You also need a section on marketing goals and strategies as well as a competitive analysis.
There is much more that needs to be in your business plan, but you have a good start and you are on the right path. It is tiresome, hard work and can be frustrating. And that’s okay. But staying focused here is absolutely fundamental if you want to have a successful metamorphosis.
Next week, we will take a look into your corporate infrastructure. You will be like the general manager of a baseball team, assembling your roster to create a winning team.