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17
Mar
2010
A loan flipchart for everyone to review
Two businesses—one a well-known bank and the other an investment firm—were planning to undertake a joint marketing program to expand the bank’s investment opportunities and generate new customers. The bank’s vision statement:
To enhance the value of our investors’ portfolios through long-term investing strategies while building trust and confidence by using the most rigorous financial analysis tools and face-to-face research to ensure investment security.
The investment firm’s vision statement: To provide our customers with the highest level of banking products and services with convenience and a safe and friendly attitude.
On the surface, the vision statements are complementary. The question that partners should ask themselves while strategically planning their partnership is this: “Based on these vision statements, what are the commonalities and the differences?” Then they can brainstorm these items and list them on a flipchart for everyone to review. Is there some difference that would prevent the two organizations from creating a joint marketing plan?
9
Jan
2010
Where can you find credit investors?
The first place to look for investors is among your family and friends. They love you. They want you to succeed and if you can convince them that you have a great invention idea, they may be willing to invest their money. For them, they are investing in you as well as your invention. They will undoubtedly be the easiest people in your circle of influence to convince to invest.
Second, look to acquaintances. This may be your doctor, lawyer, dentist, accountant, co-workers, etc. Professionals you know may be willing to invest some of their expendable income in your company/invention if you present your case in a compelling and convincing manner. The stock market has disillusioned many an investor in the last several years and these professionals may be willing to invest a small portion of their portfolio on your invention.
You will need to do your homework before you approach them. Don’t just go in with a great idea. Before they are likely to invest their money they will want to see, at the very minimum, a business plan for developing and marketing your product. If you have not written a business plan, they are likely to see your project as entirely too risky.