Networking Events
Newtown Business andProfessional AssociationBusiness Card Exchange Tuesday, Apr. 20 5-7 pm To RSVP: newtownbpa.org Central Bucks Chamber
FREE Seminar Business Growth Series: "Succeeding in the New Economy" Thursday, Apr. 22 8:30-10 am To register: centralbuckschamber.com
Lower Bucks Chamber Business Card Exchange Thursday, Apr. 22 4:30-6:30 pm To RSVP: lbccc.org Central Bucks Chamber |
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Richard Associates specializes in results-oriented marketing efforts.
Our services include:
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Strategic Consulting Sessions
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Marketing Plans
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Marketing Program Execution
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Business Image Consulting
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Lectures |
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Greetings!
For the past few months, I have been busy with client work as well as teaching an introductory marketing course this semester. Who knew teaching took so much prep time? It has been fun, and the students ask great questions about marketing and business. We have lots of good discussions about real-world scenarios.
After similar discussions with clients, I realize that business planning takes courage. Can we really envision getting that dream account that propels our business into a new dimension? In addition, are we able to see how the business survives if something unexpected happens to us, our partner or colleague? These are complex issues that need to be addressed by all business owners.
At Richard Associates, we specialize in strategic consulting, so that you can make informed decisions about your business. In this newsletter, we'll discuss planning for good and bad times in business. There's also a list of local networking events, a networking tip, and some interesting tidbits. Enjoy! Best regards, Susan Richard |
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Success & Succession
Plan for good times and bad times
With the lovely Spring weather, it's easy to think that life will always be good. However, I recently met a couple of business owners who each lost their business partner to illness. It made me think about how we may plan for the successes in our professional life, but not so much for the difficult times.
Sunny Day...
When you're writing the proposal, you're thinking, "This could be the one to take us to the next level." A lot is riding on this potential client, and they may not even know it. And then, their answer is a resounding "Yes! Yours is the firm we want to work with." Oh no, how will you handle the workload? Here are a few options:
- Ask former colleagues to step in and help in the interim
- Get an assistant or an intern to help
- Bring in freelancers to get the account organized until permanent staff can be hired
- Re-assign workload throughout team
- Hire and train new staff immediately
It's wonderful to think of all this new business pouring in. It also helps to have a plan for when it happens, so that you can service your new account with enthusiasm, not dread.
Rainy Day...
Another situation is that you have a successful, established business and an unexpected health issue arises for someone in the executive tier, or a partner decides to leave the business. Is there someone ready to step in and take over seamlessly? Here are a few options: - Promote a lower-level manager to work through crisis period
- Bring in an outside resource with similar expertise
- Divide the workload among the remaining executives and managers
- Be sure there is cross-training throughout the organization
When establishing the business, all possible situations should be addressed between partners, and with attorneys and accountants representing the company. These conversations can be difficult, but are necessary.
At start-up, it's always more exciting to talk about the potential successes than it is to discuss succession. But remember, both are important to the survival of your business.
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Networking Tip
Business associations 
Investigate different networking groups to see not only where you fit in, but also where you are most likely to meet your ideal client. To meet varied contacts, diversify the associations you are involved in. Mix it up a bit by joining a community-based group like your local Chamber of Commerce, an organization whose goals include business networking, and a trade association specific to your industry.
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Interesting Tidbits
Have you created your profile, but don't know how to best promote yourself and your business? Here's an article from openforum.com with 10 ways to use LinkedIn. Planning a Vacation?
With the warm weather upon us, you may be daydreaming about your summer vacation. Here are 25 wonderful places to consider. Bon Voyage! |
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Go Phillies!
Can they do it again?
 The Phillies are playing great!
I was so sad to see Cliff Lee go, but this year's team has gone beyond expectation so far. It makes for a fun and interesting Spring.
Could they possibly do it again this year? Play ball! |
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Get the attention you deserve!
Specializing in direct marketing, we focus your marketing dollars on results-oriented promotional efforts. Richard Associates also provides strategic advertising guidance for small to mid-size businesses. So whether you're just starting up or need a jumpstart, we can help you plan ahead and allocate your marketing budget to get the attention you deserve!
Richard Associates
618 Palmer Lane
Yardley, PA 19067
215-595-8959
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