Strategy and Implementation Summary
CRP will be aggressively courting companies to win over future contracts. CRP will offer a superior service at a lower cost due to specialization. By concentrating on a few specific services, CRP will become proficient at these services.
CRP will increase company visibility through a website, local Chamber of Commerce networking, and participation in trade shows. Our website will be quite detailed and provide a visitor in-depth information about the services CRP offers, the corresponding high level of quality, and the cost savings that can be achieved by using CRP.
CRP will also be quite active in the local Chambers of Commence in the Seattle metropolitan area. Over the years, Jeff has come to realize that a lot of business transacts through the Chamber of Commerce or relationships that were started through that organization.
Lastly, CRP will be active in the many trade shows that come through Seattle. The use of trade shows allows members of CRP to be introduced to a wide range of businesses that otherwise would be difficult to establish an initial relationship with.
5.1 Competitive Edge
CRP's competitive edge will be based on two factors, specialization and strategic relationships. CRP will be specializing in two distinct areas of corporate planning. While specializing essentially precludes CRP out of a lot of different markets, it allows CRP to excel in the markets that it has chosen to participate in. Specialization allows CRP to be an expert in the two areas that it is in. Additionally, the expert knowledge allows CRP to provide the service as a cost saving to the company because the fewer services CRP offers, the more they can concentrate on improving the current offerings. Improvements that CRP strive for is a reduction in cost charged to the client and an improvement to the level of services offered.
CRP's second competitive edge is based on the use of strategic relationships. CRP clearly realizes that they cannot be good at everything. CRP believes it is better to concentrate on a few things, excel in those areas, and form strategic partnerships with companies that excel in the service areas that CRP doesn't. Applying this philosophy, CRP has decided in addition to planning corporate retreat training sessions, they want to offer the service of hosting/leading these events as well. The service of hosting/leading however, is quite different than planning and CRP believes that it would be more cost effective to form a strategic relationship with an expert in this field instead of trying to become proficient themselves. CRP then is able to offer a top-notch service offering of hosting/leading the training seminars but does not have to invest heavily in developing the program.
The use of strategic relationships is unusual in the event planning space. Most event planners are generalists and try to do a little of everything. CRP is following the model of benchmark companies in other industries that have recognized the value of specialization and the use of strategic relationships.
5.2 Sales Strategy
CRP will for the most part be using the sale strategy of personal selling. With his five years of consulting for larger corporations, Jeff has formed relationships throughout the business community. Jeff will initially leverage these relationships to form some initial clients. Once things get rolling and CRP has developed some satisfied clients, Jeff will be developing relationships with his network of friends developed through the Chambers of Commerce and trade shows.
Jeff's spiel to prospective customers will be based on the high level of service offered and cost advantages by going with CRP. The cost savings can be quantitied and shown to the customer while the higher level of service can be guarantee as well as communicated through testimonials from satisfied clients.
Additionally, the website will be used not only to communicate information to prospective customers, but also a method of communication where CRP can provide more specialized information such as cost estimates as well as answering questions through the site.
5.2.1 Sales Forecast
The first month will be spent setting up the office. It is unlikely that there will be any sales activity within the first two months. During the first and second month, Jeff will be developing systems to provide a template for future event planning. Once this is set up, CRP should be able to process the service request rather easily.
The third month should see the start of sales activity. It will not be until the fifth month that things will really kick in. From month six through 12 sales will steadily increase and the increase should continue well into year two.
CRP will have several milestones early on:
- Business plan completion. This will be done as a roadmap for the organization as well as an indispensable tool for the ongoing performance and improvement of the company.
- Set up office. This will done within the first month.
- Adoption of CRP's services by 20 companies.
- Revenue over $100,000.