At around midnight this morning (oxymoron), I was informed that I am a finalist in the IFEL Business Plan competition. As you may remember from my earlier post (Time To Visit Aunt B), I do not know anything about the prizes being offered. So my elation halted in mid jump: for WHAT am I a finalist? I still think of The Lottery.
So, now it is a game of sorts: wanting to win a contest to earn prizes that I have no idea whether I need (or want). I know, I know - who has time for games? I figure, if I am going to do something for an unknown ROI at least I am tightening my business plan in the process.
Today we were also featured in The Montclair Times! They did a story about Val-ID-ate, and the only thing about the article that made me groan is that the writer put the name of my home street vs. our business address street. Thankfully, our clients like us and I don't think that I would mind them dropping in....but only some of our clients live in town. Isn't it great we have Sammy to be our watchdog?
So, stay tuned! As usual, nothing is ever simple or boring in the Verify-ED world.
Showing posts with label business plan. Show all posts
Showing posts with label business plan. Show all posts
Thursday, February 12, 2009
Friday, January 16, 2009
Time To Visit Aunt B
Your business plan review is like the family member that you visit once a year. You dread going on the trip, but afterward you are glad that you went. On Monday I submitted the Executive Summary for our Val-ID-ate business plan to the IEFL Business Plan Competition. Considering that the prizes have yet to be announced, I couldn't help but worry a bit (did you ever read The Lottery by Shirley Jackson?). Our business plan needed a tune-up and I figured that participating in a competition gives me a "reason" to get it done. This is the same reasoning I give myself as I step into the water for the Danskin Sprint Triathlons. Although the swim portion is still daunting, I know that one day I will get through it without hesitation.
Wonderfully, the business plan is holding up very well. Our goals remain the same and we are currently implementing the strategy that we had laid out - granted without the $500,000 investment for which we had hoped when we presented to Golden Seeds. We have even discovered that a couple of our competitors have "disappeared" (VeriResume and Pledgex). As when it was first written, I need help with the numbers. I recognize that my strengths are in developing the vision and formulating strategy, so when we make it to Round 2, I will be giving our financial guru a call.
Cross your fingers. Assuming that the grand prize is not a stoning, winning this contest would be a great boost!
Wonderfully, the business plan is holding up very well. Our goals remain the same and we are currently implementing the strategy that we had laid out - granted without the $500,000 investment for which we had hoped when we presented to Golden Seeds. We have even discovered that a couple of our competitors have "disappeared" (VeriResume and Pledgex). As when it was first written, I need help with the numbers. I recognize that my strengths are in developing the vision and formulating strategy, so when we make it to Round 2, I will be giving our financial guru a call.
Cross your fingers. Assuming that the grand prize is not a stoning, winning this contest would be a great boost!
Sunday, April 6, 2008
Verify-crED Business Plan
Today I worked on the Verify-crED business plan - in the strangest place. I took my daughter to a birthday party and hunkered down in the waiting room with my laptop. I have this laptop going everywhere. On Saturday mornings while my eldest daughter is at her fencing class, I sit in the car and drain the battery (actually, I have only done this once and I bought a jumper after that horrendous experience).
I anticipate that one of the requirements any interested investor will seek is a business plan - makes sense. It just feels like I am putting this together when I have the least amount of time.
As an aside, I attended a focus group at the NJ Star Ledger last week that was quite informative. The Star Ledger wants to revamp the business section to provide more for the small business. Interestingly (and wonderfully) there were not many small business owners there; rather there were quite a few representatives from organizations that support small businesses. At the meeting, I heard about all these seemingly wonderful resources that are available to me - but I know that muddling through the mounds of information is PAINFUL. That is why I think many small businesses eschew the help offered. The number of hoops through which you are expected to jump don't feel worth the effort. I am going to reach out to some of the other attendees to see if my perceptions are true. I just feel that at this time in our business cycle, I don't have time to waste. Everything I do has to positively impact the business and the return has to be as immediate as possible. So, when I go to the gym, conduct personal training sessions or coach Level 2 gymnastics - I look at those activities as helping me focus. I ran about 5 miles this morning and I felt so good. I appreciate the time to sort through my task list. I am always impressed by the people who can work out at midday. I need to start my day with activity, and I cannot break in the middle of it.
I wanted to also talk about Verify-ID (as promised). Verify-ID is our feature that allows our clients to submit search requests without the required social security numbers and dates of birth. Our clients can have our system send an email message to the search subjects that contains a direct link. This link takes search subjects securely into our system so that they can enter their own sensitive data. Neat, huh? It came out of my experience when I worked at an executive recruiting firm. There was a concern that candidates' sensitive data would accidentally end up in the search management database, so this feature was created to solve that issue.
We really try to make sure that we listen to our clients, because they are from where we will get the next great idea.
I anticipate that one of the requirements any interested investor will seek is a business plan - makes sense. It just feels like I am putting this together when I have the least amount of time.
As an aside, I attended a focus group at the NJ Star Ledger last week that was quite informative. The Star Ledger wants to revamp the business section to provide more for the small business. Interestingly (and wonderfully) there were not many small business owners there; rather there were quite a few representatives from organizations that support small businesses. At the meeting, I heard about all these seemingly wonderful resources that are available to me - but I know that muddling through the mounds of information is PAINFUL. That is why I think many small businesses eschew the help offered. The number of hoops through which you are expected to jump don't feel worth the effort. I am going to reach out to some of the other attendees to see if my perceptions are true. I just feel that at this time in our business cycle, I don't have time to waste. Everything I do has to positively impact the business and the return has to be as immediate as possible. So, when I go to the gym, conduct personal training sessions or coach Level 2 gymnastics - I look at those activities as helping me focus. I ran about 5 miles this morning and I felt so good. I appreciate the time to sort through my task list. I am always impressed by the people who can work out at midday. I need to start my day with activity, and I cannot break in the middle of it.
I wanted to also talk about Verify-ID (as promised). Verify-ID is our feature that allows our clients to submit search requests without the required social security numbers and dates of birth. Our clients can have our system send an email message to the search subjects that contains a direct link. This link takes search subjects securely into our system so that they can enter their own sensitive data. Neat, huh? It came out of my experience when I worked at an executive recruiting firm. There was a concern that candidates' sensitive data would accidentally end up in the search management database, so this feature was created to solve that issue.
We really try to make sure that we listen to our clients, because they are from where we will get the next great idea.
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