Corporate Development
Presented by: Lena Graham-Morris | The Entreprenista April 28, 2023
Agenda 01 Introduction 02 Overview 03 Elements 04 Personalize Your Plan 05 Closing
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Introduction
This woman is no stranger to the world of entrepreneurship! She will tell you it runs through her DNA. Lena Graham Morris, The Entreprenista is Chief Strategy Officer, Principal, and Shareholder of HORUS Construction Services Inc. and currently in a succession plan to take ownership of her family's third-generation construction business. In an industry dominated by men, she is taking the proverbial reins to be a trailblazer. The company was established by her grandfather, grandmother, great uncle, and father. Today she is working side by side with her mentor and partner, who is also her uncle. They have established strategic partnerships that have secured over $500 Million in total contracts over the last five years, in addition to ensuring the firm's largest contract in its history and spearheading the Business Equity Best Practices and Economic Impact Report for state renown medical center. Lena brings over fifteen years of not-for-profit experience. Including key positions with PBS/NPR, Metro Orlando Urban League, and the African American Chamber of Commerce of Central Florida. Lena has recently launched HORUS Academy with her partner and a team of strategic alliances. The 501©3 program offers mentor protégé assistance to small businesses. This initiative includes virtual and physical incubators that provide support to small businesses and subcontractors. To date, the Academy has assisted 7+ firms in doubling their yearly revenue and placed 13+ small businesses in contracts through the mentor protégé program. Lena Graham-Morris currently serves as Immediate Past President for the National Association of Women Business Owners (NAWBO) Orlando and is the first woman of color to hold such a leadership role. This organization is dedicated to supporting women business owners and entrepreneurs. Lena's work in the business environment is but a part of who she is. She also finds time to donate her skills to the community. She currently volunteers countless hours to serve Central Florida by supporting multiple organizations as a speaker and mentor. She sits on the boards of several organizations: Infinite Scholars Program - Florida, which facilitates scholarship fairs for high school seniors across Florida; Dress for Success, and Junior Achievement. She resides in Auburndale, Florida, with her husband, Jared Morris. Lena's story of triumph and perseverance is one of a strong woman of color who will stop at nothing to succeed. In the words of The Entreprenista, "The absolute test of one's character is the ability to lose as gracefully as you win."
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01
Introduction
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Overview
Create your blueprint Key Take Aways
• Identify Your Niche Services • Identify Your Ideal Client • Narrow Your Service Area • Create a Budget (7%-12% revenue)
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Goal Make $$$ Exchange of goods|services
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Plan
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Elements
Elements Brand | Corporate Identity Business Development Marketing Advertising Public Relations Sales Strategic Partnerships 4/28/2023
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Brand | Corporate Identity “Corporate identity is the total of how your brand looks, feels, sounds and behaves in the world.” Corporate identity is who you are as a company, including corporate design, company culture, values and internal and external communications, creating an overarching identity for the whole company. Brand identity is the collection of elements that a company creates to portray an image to its customer. 4/28/2023
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Brand | Corporate Identity Brand vs. logo • While both a brand and a logo represent a company, they're different concepts that are both important parts of a company's image. A company's brand typically defines what the company's purpose is, the product or service it sells, the audience it sells to and why it sells that product or service. • Your logo is a visual representation of the brand and company. When people notice your logo, they typically think of your brand and its messaging. Consistently placing your logo on your marketing and sales materials can help people easily remember your brand and can increase awareness for new customers. 4/28/2023
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Brand | Corporate Identity
Brand vs. logo Brand i.e. Bleach Logo i.e. Golden arches (rebrand)
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Brand | Corporate Identity
Brand vs. logo
Our mission is: To bring inspiration and innovation to every athlete* in the world. *If you have a body, you are an athlete. 4/28/2023
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Brand | Corporate Identity How to develop a strong corporate brand 1. Discuss the company's goals, vision and mission 2. Conduct a brand audit 3. Survey the employees/ vendors 4. Research your target audience 5. Develop a brand strategy and style guide
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Brand | Corporate Identity
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Brand | Corporate Identity
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Business Development busi·ness de·vel·op·ment [business development] NOUN 1.the activity of pursuing strategic opportunities for a particular business or organization, for example by cultivating partnerships or other commercial relationships, or identifying new markets for its products or services: 2."Roy brings with him over 17 years in strategy planning and business development“ Business development (BD) is essentially any activity or idea that aims to make a business better over time.
This means making use of customers, implementing strategic partnerships, using your markets, and building your company's reputation.
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Business Development Business development people are actually selling. They go out and develop business, sometimes without realizing that they’re even doing it.
The Difference Between Business Development And Marketing 🤝🤝 Marketing is the process of creating, relaying, and delivering offerings that have value to your customers or strategic partners. Identifying every available growth opportunity is key. Whereas your business professional will look for ways to appeal to target markets, your marketing team will adapt their marketing skills and budget to create the material that allows for that target appeal, creating a complementary partnership and long-term relationships. 4/28/2023
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Marketing Marketing is the process of getting potential clients or customers interested in your products and services. The keyword in this definition is "process." Marketing involves researching, promoting, selling, and distributing your products or services. This discipline centers on the study of market and consumer behaviors and it analyzes the commercial management of companies in order to attract, acquire, and retain customers by satisfying their wants and needs and instilling brand loyalty. 4/28/2023
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The 4 Ps of Marketing
Marketing
According to E. J. McCarthy, the 4 Ps of Marketing are a simple formula for identifying and working with the essential elements of your marketing strategy. •Product. Having a product is key and is the root of all things marketing. A product could be anything that a company offers consumers to satisfy a need. The best thing to do is to decide on your product or service based both on the needs and motivations of consumers and how the product would benefit the consumer, rather than on the object’s physical characteristics or attributes. •Place. Strategic merchandising locations can be anything from an online store to a channel of physical stores across multiple towns or countries. The goal of the distribution strategy is to enable potential clients to have easy access to your products/services as well as offer a good experience throughout the purchasing process. •Price. How you price your products and services is an extremely important part of the marketing strategy. This factor affects other factors such as: • The margin you hope to obtain. • What target market do you want to appeal to and what purchasing power do your consumers have? Do you want to enter the luxury market or the mass market? • The company's financial goals. • How does the competition price their products and what possible product substitutes are there? • Trends and fads. • Increasing your price in order to give a better perception of quality. •Promotion. This refers to all the marketing and communication that is done in order to showcase the benefits of your product or service within the market. This is how you increase sales.
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Marketing
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Advertising
Advertising Definition
Advertising refers to a component of marketing communication that transfers open, non-personal messages to sell or promote a product or service to a wide audience. It has huge benefits, and when done rightly, it can increase business profits and market share. (**Can translate into sponsorships when you are budgeting)
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Advertising Key Takeaways • Advertising is an essential part of marketing that targets a wide range of people who may or may not be prospective customers. (cold leads) • Advertisements aim to increase the awareness of a company’s offerings and remind the customers of a product or service. • Traditional media is non-personal, whereas new media is primarily personal and thus features customized ads and messages. • Advertisements have a few benefits, but if not implemented effectively, the drawbacks might outweigh the benefits due to the high cost and wastage of resources incurred in targeting large audiences.
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Public Relations “Public relations is a strategic communication process that builds mutually beneficial relationships between organizations and their publics.” PRSA
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Public Relations
About Public Relations
At its core, public relations is about influencing, engaging and building a relationship with key stakeholders across numerous platforms in order to shape and frame the public perception of an organization. Public relations also encompasses the following: •Anticipating, analyzing and interpreting public opinion, attitudes and issues that might have an impact, for good or ill, on the operations and plans of the organization. •Counseling management at all levels in the organization with regard to policy decisions, courses of action and communications — including crisis communications — • taking into account their public ramifications and the organization’s social or citizenship responsibilities. •Protecting the reputation of an organization. •Researching, conducting and evaluating, on a continuing basis, programs of action and communications to achieve the informed public understanding necessary • to the success of an organization’s aims. These may include marketing; financial; fundraising; employee, community or government relations; and other programs. •Planning and implementing the organization’s efforts to influence or change public policy. •Setting objectives, planning, budgeting, recruiting and training staff, developing facilities — in short, managing the resources needed to perform all of the above. •Overseeing the creation of content to drive customer engagement and generate leads. 4/28/2023
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Public Relations Below are some of the disciplines/functions within PR: • Corporate Communications
• Media Relations
• Crisis Communications
• Content Creation
• Executive Communications
• Events
• Internal Communications
• Social Media
• Investor Relations Communications
• Multimedia
• Marketing Communications
• Reputation Management
• Integrated Marketing/Integrated Marketing
• Speechwriting
Communications
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• Brand Journalism
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Sales Sales development and business development are different functions within a company that both work to increase awareness and sales. Sales development focuses on identifying leads, researching and developing them and moving them along the sales cycle toward a closing. Business development involves finding new growth opportunities for the company and forming strategic partnerships that open up new markets. In this article, we discuss the differences between sales and business development within a business.
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Sales Marketing consists of the strategies your company employs to generate interest in your business. Sales are the methods by which you convert that interest into a transaction. Marketing strategies attract cold, warm and hot leads, while sales techniques turn them into full customers.
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Sales
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Strategic Partnerships Forming a strategic partnership might be exactly what you need to grow your business and expand your operations. Many successful brands have joined forces with other businesses to help each other succeed and deliver superior customer service. Think of Spotify and Uber, Apple and IBM, Alexander Wang and H&M and others. However, strategic partnerships come with their challenges. You not only have to choose the right partner but also cultivate and grow your relationship.
***Understand and articulate your value proposition.
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Strategic Partnerships 1. Tapping Into New Markets
One of the biggest benefits of a strategic partnership is that it can help you tap into new markets that you might not have had access to before. By partnering with another company, you can reach new customers and expand your business into new geographic areas.
2. Saving on Costs
Another benefit of a strategic partnership is that it can help you save on costs by sharing resources with your partner company. For example, if you're both companies are based in different countries, you could share office space and staff instead of each having to maintain separate facilities and employees in both countries. This would allow you to reduce your overhead costs and free up more money to invest in other areas of your business.
3. Gaining a Competitive Edge
A strategic partnership can also help you gain a competitive edge by pooling your respective expertise and knowledge. By working together, you can combine your unique strengths to create a competitive advantage over other companies in your industry who don't have access to the same resources or knowledge base. For example, if one company specializes in marketing and the other specializes in product development, they could form a partnership in which the marketing company helps promote the products developed by the other company. This would give them both a competitive edge over companies who don't have access to such specialized expertise.
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Personalize Your Plan 04
Create your blueprint Key Take Aways • Identify Your Niche Services • Identify Your Ideal Client • Narrow Your Service Area • Create a Budget
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Closing | Contact 05
Q & A Discussion
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Stay in touch W -Iamentreprenista.com IG - @TheEntreprenista FB- @The Entreprenista M- 702.530.LENA https://www.linkedin.com/in/theentreprenista/
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