SBANC
Newsletter
March
28, 2006
Issue 414-2006
|
QUOTE
"If
they don’t fail outright, most businesses fail to fully
achieve their potential. That’s because the person who
owns the business doesn’t truly know how to build a company
that works without him or her.. which is the key."
-- Michael
Gerber
|
FEATURE
PAPER
Customer
Relationship Management in the Small Business Service Sector:
Developing a Process to Enhance the Customer Experience.
The
following paper was presented at the 2006 USASBE/SBI Joint Conference
Proceedings held in Tucson, Arizona. It was written by Peggy
E. Chaudhry
of
Villanova
University.
Abstract
The
goal of this study is to provide a synopsis of innovative CRM
concepts that can assist a small business develop a process to
effectively communicate with its customer, such as an e-newsletter
and a CD-ROM direct mail campaign. A practitioner-oriented model is developed that depicts the CRM process of using multiple communication channels, building loyalty, and customer retention tactics to foster the customer experience.
Read
the Entire Paper...
|
CONFERENCES
CATI
|
| Who: |
Center
for Advanced Technology and Innovation
|
| What: |
Technology
Marketplace
|
| Where: |
Grand
Ballroom of the Racine Marriott,
Racine, WI |
| When: |
April
25, 2006
|
|
|
|
IEA
|
| Who: |
Institutional
Effectiveness Associates
|
| What: |
5th
Annual Workshop - Assessment of General Education
Outcomes in Higher Education
|
| Where: |
St.
Norbert College, De Pere, Wisconsin |
| When: |
April
27 - 28, 2006 |
|
|
|
ISM
|
| Who: |
Institute
for Supply Management
|
| What: |
91st
Annual International Supply Conference
|
| Where: |
Minneapolis,
Minnesota, USA |
| When: |
May
7-10, 2006 |
|
|
|
ICSB
|
| Who: |
International
Council for Small Business
|
| What: |
51st
ICSB World Conference
|
| Where: |
Melbourne,
Australia |
| When: |
June
18-21, 2006 |
|
|
|
AACSB
International
|
| Who: |
AACSB
|
| What: |
Ethics
and Governance Conference
|
| Where: |
The
George Washington University |
| When: |
July
19 - 20, 2006 |
|
|
|
CALLS FOR PAPERS
AMA
|
| Who: |
Atlantic
Marketing Association
|
| What: |
Annual
Meeting
|
| Where: |
Francis
Marion Hotel in Charelston, South Carolina, USA |
| When: |
September
27-30, 2006 |
Submission
Deadline:
April 18, 2006
|
|
|
|
SBI
|
| Who: |
Small
Business Institute
|
| What: |
Mid
Year Meeting
|
| Where: |
Louisville,
Kentucky, USA |
| When: |
October
12-15, 2006 |
Submission
Deadline:
May
15, 2006
|
|
|
|
IABE
|
| Who: |
International
Academy of Business and Economics
|
| What: |
IABE-2006
Annual Conference
|
| Where: |
Las
Vegas, Nevada, USA |
| When: |
October
15-18, 2006 12-15, 2006 |
Submission
Deadline:
May 31, 2006
|
|
|
|
ASC
|
| Who: |
American
Society for Competitiveness |
| What: |
17th
Annual Conference
|
| Where: |
Washington,
D.C., USA |
| When: |
November
9-11, 2006 |
Submission
Deadline:
June 5, 2006
|
|
|
|
ASBE
|
| Who: |
Association
for Small Business and Entrpreneurship (ASBE) |
| What: |
Fall
Conference
|
| Where: |
Best
Western in Corpus Christi, Texas |
| When: |
November
1-3, 2006 |
Submission
Deadline:
August 1, 2006
|
|
|
|
|
TIP
OF THE WEEK
Critical Risks,
Problems, and Assumptions
The development of a business has risks and problems, and the business plan invariably contains some implicit assumptions about them. You need to include a description of the risks and the consequences of adverse outcomes relating to your industry, your company and its personnel, your product's market appeal, and the timing and financing of your startup. Be sure to discuss assumptions concerning sales projections, customer orders, and so forth. If the venture has anything that could be considered a fatal flaw, discuss why it is not. The discovery of any unstated negative factors by potential investors can undermine the credibility of the venture and endanger its financing. Be aware that most investors will read the section describing the management team first and then this section.
Do not omit this section. If you do, the reader will most likely come to one or more of the following conclusions:
1. You think he or she is incredibly naive or stupid, or both.
2. You hope to pull the wool over his or her eyes.
3. You do not have enough objectivity to recognize and deal with assumptions
and problems.
Identifying and discussing the risks in your venture demonstrate your skills as a manager and increase the credibility of you and your venture with a venture capital investor or a private investor. Taking the initiative on the identification and discussion of risks helps you to demonstrate to the investor that you have thought about them and can handle them. Risks then tend not to loom as large black clouds in the investor's thinking about your venture.
1. Discuss assumptions and risks that implicit in your plan.
2. Identify and discuss any major problems and other risks, such as:
• Running out of cash before orders are secured.
• Potential price cutting by competitors.
• Any potentially unfavorable industry
trends.
• Design or manufacturing costs in excess of estimates.
• Sales projections not achieved.
• An unmet product development schedule.
• Difficulties or long lead times encountered in the procurement of parts or
raw materials.
• Larger-than-expected innovation and development costs.
• Running out of cash after orders pour in.
3. Indicate what assumptions or potential problems and risks are most critical
to the success of the venture, and describe your plans for minimizing the impact
of unfavorable developments in each case.
| Timmons,
Jeffry A., and Stephen Spinelli New Venture Creation:
Entrepreneurship for the 21st Century , 7th edition,
New York: McGraw-Hill/Irwin 2007 244 |
ANNOUNCEMENTS
Spanish Database
A new database of
Spanish information has been added to the SBANC website. It includes
health and human services information, Spanish dictionaries and
translations, and Social Security and medical terminology. To
access the database please click
here.
3E-Learning
Idea Submission 3E-Learning
is holding an idea contest from March 15 to May 31st
of 2006. The top ten ideas will be announced on June 16, 2006.
Awards go out to the top ten ideas including a $1000 award for
the first place idea. Idea submissions are open to any educator,
practitioner or researcher and the judging of these ideas for
awards will be done by a national panel of renowned educators
in the field of entrepreneurship. All ideas are the intellectual
property of the person submitting them.
For more information
about 3E-Learning and the idea competition please click
here.
|
The
SBANC Newsletter is provided as a service to the members of our
affiliates: Academy of Collegiate Marketing Educators (ACME), Association
for Small Business & Entrepreneurship (ASBE), Federation of
Business Disciplines (FBD), International Council for Small Business
(ICSB), Institute for Supply Management (ISM), The International
Small Business Congress (ISBC), Marketing Management Association
(MMA), Small Business Administration (SBA), Service Corps of Retired
Executives (SCORE), Small Business Institute (SBI), Society for
Marketing Advances (SMA), United States Association for Small Business & Entrepreneurship
(USASBE), U.S. Department of Veterans Affairs (VA).. If you are
interested in membership or would like further information on one
of our affiliates, please see our web site at http://www.sbaer.uca.edu
SBANC STAFF
Main Office Phone: (501) 450-5300
Dr.
Don B. Bradley III, Executive Director of SBANC & Professor
of Marketing;
Direct Phone: (501) 450-5345
Garion
McCoy, Development Intern
Brandon
Tabor, Development Intern
Tyler
Farrar, Development Intern
To subscribe or unsubscribe to the
SBANC Newsletter, please E-mail SBANC at sbanc@uca.edu
|
|
