8. TAB Board Presentations Developing Sales Process Financial Statements Track & Measure Results Word of mouth Marketing Marketing on the Web Marketing Plans
9. TAB Board Presentations Human Resources How to Negotiate Changing Course SWOT Analysis Retaining Customers Time Management TAB
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17. Strategy 1.1 Join local organizations to develop relationships. fac 2-7-2008 13:52 Complete Action 1.1.1 Ask my board members to recommend best groups in my area for referrals. Due 11-30-2006 fac Jane 2-7-2008 13:53 Complete Goal 1 Develop a referral program to add 5 new customers each month. fac 2-7-2008 13:51 Complete
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20. Purpose of TAB Boards ® Affordable, Practical Business Advice Sounding Board for Ideas Resource Sharing Think Tank Focus Group Safe Environment Networking
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24. Three Laws of Marketing Overt Benefit – what’s in it for the customer? Real Reason to Believe – persuasive credibility you will do as promised Dramatic Difference - uniqueness 1 2 3
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26. Benefits Vs. Overt Benefits All Shoes Shined Protect Your Shoes Durable Shoeshine Gentle Shoeshine For Delicate Women’s Shoes Salt Guard Protects From Winter Damage Armor Shoeshine Lasts 7 Days Fast Shoeshine 2 Minute Shoeshine Benefits Overt Benefits
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30. The Next Steps TAB Information Meeting Business Evaluation Application & Profile Coaching & Board Meeting
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Editor's Notes
(Slide 1)(This slide should be up prior to the start of the GIM) (Up Front Contract) Allow me thank you in advance for spending the time to see how The Alternative Board may make a significant difference in your business and your life. I want you to relax I’m not going to sell you any CDs, books or tapes at the end of this presentation. I have a PowerPoint that explains The Alternative Board to you in great detail a long with a few video clips. At the end of the presentation when I ask you if you have any questions I hope I won’t see a single hand raised. Our goal is after hearing the facts at this information meeting plus having the opportunity to see the review your business for your complimentary evaluation at your office, we will be prepared to make a better decision whether The Alternative Board is right for you and you are right for he Alternative Board. (If there are more than 10 attendees announce) We would like to call on only about ten or so people to get a sense of the challenges we all face. (Other wise say the following) I would like you all to introduce yourselves before we get started. Please give you name, company name and your current main challenge you face in your business. (Call on each prospect one at a time, add a short comment on what their issue is and on your flip chart or chalk board write the following key words for each challenge if the key word is already written just but a stoke mark alongside or underneath the key word: MARKETING/SALES, PLANNING, HR, FINANCE. What ever does not work for Marketing/Sales, HR or Finance place it under Planning) (You will refer to this list later when you talk about 75% to 80% of all business challenges are the same. This exercise will serve as an example)
(Slide 3) Allow me to ask you a rhetorical question. You understand your core business, but am not comfortable with the other elements needed to run a successful business. For instance, Sales process Personnel challenges Marketing programs Financial controls Planning Again the question is are you comfortable with the other elements needed to run a successful business?
(Slide 2) What is TAB? TAB is a private membership organization, which is a proven resource for helping companies grow and prosper. Our Vision is: To be a leading international provider of peer advisory and coaching solutions to leaders of privately-held businesses. Based on real world experience, we will encourage and empower our members to achieve their business and personal vision. How many of you have a vision? It’s interesting to note that most large companies have a vision and most smaller companies, excluding TAB members, do not have one.
(Slide 5) What is TAB? The TAB system includes: Monthly meetings Education Private Coaching Sessions Resource network I’ll cover these in more detail as I move forward.
(Slide 6) The first TAB method for improving business success TAB is comprised of various types of boards. Two types of boards we have are the Entrepreneur Boards are typically comprised of companies with fewer than 5 employees or less than $500,000 dollars in sales. The Strategic Boards are comprised of the larger companies. We don’t hold firm to that rule; each company is first evaluated during the interview process to see which board is best for membership. The first method is organizing and moderating monthly meetings. The meetings are held for three hours, for example 8:00 a.m. to 11:00. Meetings are held the same day each month ; for example, the second Tuesday, first Thursday or third Wednesday. This way, the members can plan their calendars around their monthly meeting. We will arrange a convenient location for all our meetings There is no dress code. The way you dress to go to work is fine in a TAB meeting. We usually start small with 4 or 5 members to develop the bonding process, then expand the board. We typically do not let them grow beyond 15. And they are all from non-competing companies. This is a very important point. We have absolutely nothing against trade associations. In fact, most TAB members belong to 1 or 2 trade groups, but the individual with whom you attend the annual trade convention, or the company you get together with to do a little bit of lobbying for your industry, is not always the same person or corporation with whom you want to share your new marketing plans or your new product ideas, because friendly or not...they’re still competitors. We also avoid any key vendor/customer relationships. Face it, if your company is facing a temporary cash shortfall that’s nothing serious, you still don’t want key suppliers or customers to know about it because they might assume the worst and lose confidence in your company. So we avoid these types of relationships.
(Slide 4) To explain The Alternative Board in simpler terms let’s use “kitchen logic” that two heads are better than one (click mouse to reveal additional heads.) just imagine how eight, 10 or 15 heads can improve your decision process
(Slide 7) Presentations Each month there will be a different business topic presented. Marketing, sales, finance, HR, planning, etc It will be a workshop atmosphere were each member will apply the topic being presented to their own particular business, In the balance of time you will have a, chance to present your current, most pressing challenges, as well as the opportunities you are facing in your business. The other members of the board suggest solutions and strategies for how to handle these problems...or take advantage of the opportunities. These suggested solutions and strategies come from the combined experiences and backgrounds of the other members of the board.
(Slide 21) Typical Member Issues Speaking of problems and issues, you probably can’t bring up a topic that hasn’t been covered in a TAB Board at one time or another. Developing a Sales Process How to read and understand financial statements and ratios Let me stop for a minute, I would like to ask you all a question. I recall that increasing sales is a major issue for most of you and thus marketing becomes a key challenge. The question I have for you is how do you differentiate yourself from the competition? Or, to put it another way , why would I do business with you vs. your competitors? Many of you do not have a clear differentiation, except service. (Ask up to five people what their answer would be) (Typically almost none will really have a difference that their competitors probably don’t have or would say) Let them know that. Go over the definition of service…Deliver the product or service on time - at a fair price - standup for the product or service you delivered if faulty ( Tell the Rose Story :) “ Bob has ants in her kitchen and calls an exterminator out of the yellow pages. The exterminator arrives in one hour as promised. He sprays the kitchen and around the house and states the price of $80, which is a fair price. He tells Bob if the ants come back within a month, he will come back and spray for free. He says, ‘we always stand behind our service.’ Of course the ants scurry immediately to the kitchen next door. Jane next door calls another exterminator out of the yellow pages. The exterminator arrives in one hour as he promised. He sprays the kitchen and around the house and states the price of $80, which is a fair price. He tells the Jane if the ants come back within a month, he will come back a spray for free. He says, ‘we always stand behind our service.’ But, this time when Jane returns to the kitchen, next to the sink is a red rose with an attached note. ‘I’m sorry you had to use our service, but I appreciate you calling us.’ Sara goes immediately to the telephone to call her friends.” (Pause) My question to all of you, “What is your rose”? Why tracking and measuring results can change your business Using your customers and people you meet to develop new clients How can I use the web to market?
(Slide 22) Typical Member Issues Discussions on hiring and firing practices. A large company can make hiring mistakes and have no or very little effect on its business. A small organization can be crippled or even go out of business with a fatal hire. Do you have job descriptions for your employees? Do you conduct personality/behavioral assessments? How can I improve my negotiating skills How to be more effective at time management is so important for many organizations. There are times in a small business the direction you are headed in my not be the correct one how do you change course in mid stream SWOT strengths, weaknesses, opportunities and threats How can we identify them and capitalize on our strengths reduce our weakness, explore opportunities and react to threats Sometimes we are so concerned in bring in new business we forget about our current clients or customers soon they may forget about you
(Slide 27) What TAB Members Learn You will be prepared to present your problem or opportunity to the board. My advice is to bring a lot of paper with you. By the time it is your turn to speak to the board, you will probably have pages of notes. You see, you will hear ideas and thoughts from other businesses that you could apply to your business that you never knew existed. Hence the expression, “You don’t know what you don’t know” will come alive for you.
(Slide 25) What TAB Members Learn At this point you are probably saying, “TAB is a great concept, but it won’t work for me because my business is unique.” The facts are that a portion of everyone’s business is unique, but 75% to 80% of all business problems are the same. How many of you do not have to hire people, fire, motivate, develop business plans, design brochures, business cards, market, have a selling system, use a computer, rent or lease space, or need financing? (Point out how common the topics were in the beginning when you all introduced yourselves. They should be listed on the easel.) As you can see, we all have a lot in common. As far as the uniqueness of the different companies. Retailers meet with retailers and discuss inventory turns, markdowns or displays. On the other side of the room are the manufacturers talking about plant capacity, process, ISO 9000. Yet a retailer will give a manufacturer a whole new slant on how to conduct business. A distributor will advise a service business on a whole different approach to add sales. You see these companies are not locked into your industry’s way of thinking. You will get a whole new paradigm on operating your business. (click to play video)
(Slide 8) Second TAB Method for Improving Business Success Private Coaching Sessions The second feature of TAB membership is the Private Coaching Sessions. This is a private meeting between the facilitator and the you. You will begin with an initial face to face meeting with your facilitator to discuss your personal vision and goals. Each month thereafter your facilitator will call you prior to each meeting to see how what you have accomplished from the last board meeting and to prepare you for the upcoming topic.
(Slide 10) Your facilitator/coach will also help Analyze and strategize your business We also implement with you various business tools in order to analyze and create strategies to move your business forward. These tools are TAB proprietary tools. One of our tolls is Strategic Business Leadership currently it is a CD based tool but soon to be on the web. I’ll explain tem in a bit more detail them Let me explain the tools a bit further………………….. (Go to next slide)
Are you happy working 60 or more hour weeks and very little vacations, if at all? Don’t you love lying awake at night due to stress from the business? Would you love to create T G I Monday?
(Slide 14) Strategic Business Leadership is far more than just a typical business plan. How many of you have a operating business plan? (count hands) How many of you have it in writing? (count hands again) If it Ain't in writing ----- it Ain't The great aspect of Strategic Business Leadership is it’s simple, any individual regardless of your experience or company size. It’s strategic road map on how you – a business owner – can live a life that you dreamed of, and how to integrate that life into leading your company to the vision that you created. Finally you can have a company that works for you versus you working for the company It creates a business that works for you rather than you just working for the business. Strategic Business Leadership ® identifies who and what has to happen to move your business forward.
(Slide 15) Many business people we meet say, “I already know what I’m not doing properly and I’m sure the board will tell me other challenges I have but I can’t even get to the challenges I know of.” Strategic Business Leadership will help identify challenges and opportunities, then help prioritize them creating Goals as you see here (Click the mouse to bring up the Goal) Develop a referral program to add 5 new customers each month We then help create no more than 5 strategies to focus on the goal Click the mouse to bring up the Strategy) Join local organizations to develop relationships. Finally Action Plans to complete the strategy which will accomplish your original goal (Click the mouse to bring up the Action Plan) Select Ask my board members to recommend best groups in my area for referrals. To be done by Jane and is Due on 11-30 Simple and easy it will change how you drive your company
(Slide 17) Third Method for Improving Business Should your board not be able to offer a solution to a business challenge you may have, your facilitator can enter your challenge on the TAB Hotline. The Hotline automatically emails your question to over 250 facilitators throughout the world. Typically responses will be received within 48 hours. If you look in your folder you will see a copy of Tip from the Top our monthly newsletter that offers you business ideas that you can begin to use in your business at once. The tips are from members like yourselves and our facilitators throughout the world Plus, you have the opportunity for personal contact with other TAB members within your area at various other TAB-sponsored events.
(Slide 17) Third TAB Method for Improving Business As a TAB member, you will receive your password for the member-only section of our website. There, you will have the opportunity to research all business tips accumulated over many years. You will become part of our TAB yellow pages, a free marketing opportunity for you to reach other TAB members throughout the world. We are constantly developing discount opportunities to help reduce your expenses, located on the TAB Boards Rewards ™ section. Industry Specific message boards that you can ask and respond to questions in your own industry Remember “Tips from the Top” we talked about earlier? Every article written can be researched in our business library, using a Goggle type search engine.
(Slide 18) Purpose of The Alternative Board TAB Is to provide affordable, practical business advice to its members. It’s a sounding board for your ideas. A brain-trust is another word. The TAB Board is the place you can rely on for help and answers. TAB is a great place to share resources. You can toss your yellow pages out the window. If you are looking for a network system for your computers or a new accountant, someone in your board can give you a recommendation so you don’t have to experiment by dialing up strangers. It’s a think tank environment. It’s a place where you can bring your new ideas, products and plans for the board to help you work through. Many of our members use TAB as a focus group. Say you have a new brochure you are coming out with…bring it to your board for them to analyze before you actually use it to attract potential customers. TAB is not actually a networking organization, but because of our bonding process you will make close friends and develop additional business through your fellow members and the contacts they have. But that is not the reason to join TAB. TAB is a safe environment. A TAB Board creates an environment that is safe for you to reveal weaknesses and fears you may have in operating your business. That is difficult to do outside of a TAB Board. There are times when I facilitate boards, I feel like a business bartender.
(Slide 19) Tab Boards Also Provide In TAB we emphasize practical solutions rather than theory. We have nothing against academics, but if you’ve ever managed a business through some really tough times cash-wise…or maybe you started a business on a shoestring…or perhaps you’ve been involved in a turn-around situation where cash was just non-existent...and some problem arises where the only solution is to reach in your own pocket and make up the short fall of cash. (Presenter should put hand in pocket and pull out some bills and point to the audience). This is not cash flow theory; this is cash flow . So the things you learn at TAB are things you can go back to your business and put into action at once. TAB is a support board. How many times have you said to yourself, there has to be an easier way to make a living? How about those mornings when the alarm rings and you are just not motivated to go to work? TAB creates a safe environment for you to be totally open and candid. It is a place where you can be completely vulnerable, for no one will take advantage of you. To attempt this in your office is highly unlikely. TAB is the place to share those feelings. You might say TAB is also a business therapy board. A place you can share thoughts that cannot be discussed with employees, partners and sometimes family. But, the best support we offer is the following: You see, as an owner or president of a business, you have the God-given right to procrastinate. After all, who do you report to? Not here. We hold your feet to the fire. If we give you a solution to a problem and you come back to your board a couple of months later and have not addressed the problem yet, a few things will happen: First, you will get plenty of lip from your fellow members. Next, we won’t let you bring up another problem until you have taken care of the original one. Last but not least, we will make you pay for the donuts, and we eat about a thousand donuts at each meeting.
(Slide 23) The TAB Certified Facilitator Is critical to the success of the boards. They all have broad business experience, and they have all successfully completed the TAB-Certified Facilitator training, which is training in board dynamics and coaching. Each month when you come to the TAB meeting, in addition to the agenda, you also receive an evaluation form. On it you are asked to rate both the quality of the facilitation as well as the value of the meeting to you personally, because we want to maintain the highest standards of professionalism. TAB facilitators attend semi-annual conferences and participate in monthly teleconferences to learn and refresh themselves on the needed skills to operate successful boards. (If you are a TMD at this point you re-introduce the facilitator for their commercial)
(Slide 28) If a picture is worth a thousand words (Click mouse to have second statement appear) than an actual demonstration should be worth a 1,000,000 words. (Announce) I want to demonstrate to you how a TAB Board Meeting actually works . Let’s choose a simple challenge that will interest you all marketing.
There are three laws in marketing Overt Benefit – what’s in it for the customer? Real Reason to Believe – persuasive credibility you will do as promised Dramatic Difference – uniqueness how do you differentiate yourself from your competitors Today lets look closer at “Overt Benefits” (change slide)
Feature- all of your products or services has a feature or features. I would like each of you to give me a feature of your product or service. Now Benefit is what value your customers derives from that feature. At this time I want each of you to give me the benefit of your feature your previously named (You may have to help them so they choose a feature and offer a benefit for that feature) Now lets kick it up a notch (change slide)
Lets be sure that the benefit you have selected is an Overt Benefit (Have a prospect read the first benefit and the overt benefit) ( Ask the prospect what is the difference between a Fast shoeshine and a 2 minute shoeshine) (Read the next example yourself) Durable Shoeshine is a benefit but Armor Shoeshine Lasts 7 Days is overt Is the benefit clear and obvious? Is the message specific about what is in it for the customer?
Gather materials communicating your core business or product offering. Are you listing features only and not benefits? Now write “what’s in it for the customer.” Answer these questions as if you were the customer in an overt manner: Is the benefit clear and obvious? Is the message specific about what’s in it for them? Does the idea excite your interest? Is the concept clearly unique vs. the competition? Here’s another note you should be making. How many of you know who is your competition (ask for a show of hands) By the way most peoples definition of a competitor is someone doing more business that they are. The real question I have for you is do you have a copy of your competitors marketing pieces have you down loaded their websites. If you have not how do you know what benefit you are offering that differentiate you from your competition?
(Slide 29) TAB More Than Pays For Itself As a TAB member, you are sharing concepts, ideas and business experience with others who are your peers. It is impossible to meet with experienced heads of companies month after month after month and not get back many times the cost of membership in real bottom-line benefits. (Value Proposition) If the board can help with some ideas on how to increase your sales by offering you additional marketing ideas and you can increase sales by a mere 5%, what would that mean to your bottom line? Assuming you are a 2 million dollar business what is 5% of 2 million? (Ask a prospect give you the answerer to the question which is 100,00) Assuming your gross profit is 40% (Ask a prospect give you the answerer to the question which is 40,00) Is that a lot or a little to all of you? And that is only in the sales area. Wasted time/money on reinventing the wheel; costs your company would incur due to lack of contingency plans; increased sales or decreased costs from 1 new customer or vendor. Is could be worth $20,000,$40,000 or $100,000 to your bottom line? You will find the time invested in TAB to be among the most profitable time spent on improving your business. TAB members do not have to reinvent the wheel. We pass the “baton of knowledge.” Here is finally a chance to work on your business, just not in it. You can see the forest through the trees. You all are in business for yourselves, but as TAB members you definitely won’t be by yourselves. (click to play video)
(Slide 31) The Next Steps Today was the first step in opening up extraordinary opportunities for you. We will then spend another hour with you at your place of business to provide you with the FREE evaluation of your business. After the evaluation as I said earlier we will be able to make a clear decision on the value of The Alternative Board for your business and yourself. Please understand there is no obligation on your part to become a member. Should we make a positive decision just fill out an application, the next step is determining the fit for you on a board. We will then spend about 2 hours to develop a vision for you and we will see you at the next board meeting.
(Slide 32) There are two questions I have not answered yet. The first being where did i get your name from? We get our names from other TAB board members, and we have a list of SIC codes, that’s what your business does for a living. You name came from one of those areas. The second question is “What is my investment? (Hand out the application and paraphrase) “ You would like to apply for membership, but first we have to meet privately to evaluate your business and needs and see if TAB is right for you and you are right for TAB. If we decide to move ahead there is a one time assessment fee of $300 (or what ever fee you do charge) that includes: (click mouse to have the first three topics appear) Our Monthly Newsletter and a initial 2 hour coaching session to deliver The pricing of theses tools on there own is valued at $2,000 but bundled with our membership is only $300. The monthly investment is just $195 (or what ever investment you do charge or the spread) and that includes: (Click mouse to have all the other topics appear) TAB Board Meetings, Telephone Coaching, TAB Hotline, TAB Boards Rewards, Year-Round Access to Facilitator, Member Online Yellow Pages, TAB Website, TAB Events, And More! Are there any questions? ……………(Leave this slide up on the screen) Thank you for talking time off from what I know is a busy schedule and thank you for sharing a meal with us. We want to set a time for your no obligation evaluation of your business. Based on the information you have received today and your business evaluation, both The Alternative Board and you can make a proper decision to see if The Alternative Board is right for you and you are right for The Alternative Board. I would like to take a moment. You may be unsure if The Alternative Board is an option for you in the near future, the hour or so spent with you will be an eye opener. We look forward in meeting with you. Fair-Enough? Please fill out a date and time on your confirmation sheet for us to meet, it is imperative that you have your correct email so we may end the evaluation to you. We will not show up at your door step we will call you first.
(Slide 33) (This is only a slide to be used is you accidentally advance the preceding slide)
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