Services

The Ohio Manufacturing Technology Small Business Development Center offers a wide variety of services to assist you. We have listed below an outline to include business development and marketing.

Business Development

A. Perform a business management review- analysis of current business practices and performance including:

• Marketing strategies (see Marketing Section)
• Management functions
• Personnel requirements and functions
• Financial analysis (Spread versus industry)
• Procurement practices

1. Marketing Strategies: (see marketing review)
2. Management Functions: includes in-depth review of required duties and job descriptions.
3. Personnel Requirements and functions: includes in-depth reviews of company financial statements, ratio analysis, and industry comparisons by SIC Code and asset size, and cash management practices.
4. Procurement Practices: includes in-depth review of the buying function, inventory control system, and purchasing practices.

Value: Provides an objective, professional evaluation of current business practices. Provides analysis of potential problems and offers guidance toward problem solving.

B. Develop a business Plan- based on current activities/ requirements versus goals and objectives.

Cover Sheet: Name of business, names of principals, address and phone numbers of business.
EXECUTIVE SUMMARY
SOURCE/ USE OF FUNDING
TABLE OF CONTENTS

1. The Market Analysis and Plan: The Product(s), The Customer(s), Competition Industry, Trends Pricing, Distribution Marketing, Edge/ Market Share, Promotional Strategy.
2. The Business: Business Description, Location/ Physical Layout, Management, Personnel.
3. Financial Data: Capital Equipment List, Balance Sheet Projections, Break-even Analysis, Profit & Loss Projections, Cash Flow Projections, Financial Assumptions.
4. Supporting Documents

Value: Provides the business with a formal document designed to analyze, define, and quantify goals and objectives. Provides an objective, professional viewpoint concerning the business structure, Helps the business manage it's limited resources.

C. Prepare a financial proposal- create an acceptable package for a bank or other financier review.

• Marketing strategies (SEE MARKETING SECTION)
• Business Plan (SEE BUSINESS DEVELOPMENT SECTION #1 and #2)
• Financial analysis (SPREAD VERSUS INDUSTRY)
• Prepare/ analyze Source/ Use Funds
• Package complete proposal

1. Marketing Strategies: (SEE MARKETING REVIEW)
2. Business Plan: (SEE BUSINESS MANAGEMENT, REVIEW/ DEVEOP A BUSINESS PLAN)
3. Financial Analysis: includes a complete analysis of past performance, creation of complete financial statements, and assistance with project costing.
4. Prepare/ Analyze Source/ Use of Funds: Match, need with type of financing (public, private, venture)
5. Package Complete Proposal: review request for accuracy, justification, and probability.

Value: Provides an objective, professional evaluation of the financing request. Provides analysis of potential problems and offers guidance toward successfully preparing for and accessing the proper financing.

Marketing

A. Perform a marketing review- analysis of current marketing strategies and function including:

• Product description (core and secondary)
• Customer profiles (core and secondary)
• Competitor profiles
• Pricing formulas
• Distribution methods
• Promotional methods

1. Product Descriptions: includes in-depth review of product offerings, market share by product line, depth and width analysis of each product offering, and packaging (groupings of products)
2. Customer Profiles: includes in-depth review of client list to determine buying cycles, product requirements, percentage of total expenditure opportunities, and required benefits.
3. Competitor Profiles: includes in-depth review of intelligence data concerning the marketing strategies of both core and secondary competitors.
4. Pricing Formulas: includes in-depth review of cost structure, industry margins, market requirements, and competitive pricing.
5. Distribution Methods: includes in-depth review of shipping requirements, point-of-sale, and warehousing.
6. Promotional Methods: includes in-depth review of selling process/ structure, advertising strategy, promotional material, and budget.

Value: Provides an objective, professional analysis of the current marketing function. Discovers potential problems and recommends action steps toward problem solving.

B. Research- Analysis of competition, industry trends, market expansion (domestic/ international), and customer profile information including:

C. Develop a marketing plan- based on current activities/ requirements versus goals and objectives.

• Analyze current marketing strategy (SEE MARKETING REVIEW)
• Analyze current and potential market place (SEE RESEARCH)
• Determine goals and objectives (sales, new markets, expand capacity, etc.)
• Assist in drafting a comprehensive marketing strategy.

1. Analyze current marketing strategy: perform a marketing review
2. Analyze current and potential market place: research.
3. Determine goals and objectives: includes sales increases, cost reduction, pricing assessments, product line expansion, market expansion, and budget requirements.
4. Assist in drafting a comprehensive marketing strategy: includes the creation of a detailed plan addressing product, customer, competition, trends, market share, pricing, promotions, and timing issues.

Value: Helps the business define and quantify it's goals. Provides action steps to be taken toward achieving those goals.

D. Develop a selling plan- evaluation of current activities/ requirements versus goals and objectives.

• Analyze current selling process
• Review customer records
• Determine 30/60/90 day activities
• Draft a comprehensive selling plan

1. Analyze current selling process: review sales force, segmentation by geography/ industry/ product category, budget, compensation structure, and presentation.
2. Review customer records: determine categories of purchases, volumes, and percentage of revenues.
3. Determine 30/60/90 day activities: prioritize customers by category of products/ services, and timing of selling activities.
4. Draft a comprehensive selling plan: includes current customers defined by action items, and selling process.

Value: Defines customer needs and buying habits. Defines and quantifies selling activities.