The following SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity. More about the SMART 100.
This innovation initially came to life when…
Business coaching is delivered 1-on-1 at a cost of $2000/month. Results vary and the industry is overrun by advisors that have little understanding of financials and no systems to track financial results. Many SMEs need help but cannot afford this type of coaching. IP represents a paradigm shift in the way that business coaching is provided – online, anytime and leveraged. It all comes down to the numbers and the numbers don’t lie. IP pinpoints pain and teaches owners how to improve their bottom line and cash flow. SMEs access the best coaching available at a fraction of the cost.
WHAT & HOW
The purpose of this innovation is to…
Poor financial management is the #1 killer of small business in this country. Imagineering Profit is the antidote to this lethal killer. IP teaches an SME how to glean insights from their numbers and use it to improve their business.
It does this by…
IP takes the numbers from a Balance Sheet and Profit and Loss and turns them into ratios, key performance indicators and insights that the owner can use to improve his/her business. It is simple, fun and easy to use. It guides the owner to focus on what is important and allows them to track changes and perform ‘what if’ analysis.
PURPOSE & BENEFITS
This innovation improves on what came before because…
We have 3-4 competitors globally – all are using Excel Workbook technology with large upfront costs and annual update fees. IP is online – graphics are superior, program is scalable/robust, data is backed up, ‘what if’ analysis is leading edge, able to provide industry benchmarks for KPIs, THE ONLY tool that provides coaching (checklists, audio, webinars), can be used anytime/anywhere.
Its various benefits to the customer/end-user include…
SMEs receive training and coaching relevant to their specific business anytime, anywhere and in a cost-effective manner.
COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Most owners don’t bother to look at their financials or they expect their accountant/coach to tell them what is wrong. It is not good enough to wait until the end of the year to discover that there is a problem. Most coaches/SMEs don’t have the ability or an actual system to track and report on changes to numbers.
Its predecessors/competitors include…
The largest business coaching firms in the world DO NOT have a formal system for tracking and measuring financial results. It simply is NOT done. Companies like MAUS (Sydney) use Excel. These programs are expensive and locked to the PC.
TARGET MARKET
It is made for…
Businesses with $100,000 – $40,000,0000 in annual revenues. It does not matter what industry the business is in.
DISTRIBUTION STRATEGY
It is available for sale through…
The software is fully delivered online and could easily attract customers from around the world. We are not concerned with taxation issues so there is little customization required to expand into other countries.
Our marketing strategy is to…
Affiliate marketing will play a key role. The book Financial Foreplay promotes the software. I am touring the country with MYOB in May to promote the concept. Also, we will be looking to partner with a bank, an accounting firm and major franchises to build users in bulk.
SUPPORTING IMAGES AND/OR VIDEO
SHOW YOUR SUPPORT FOR THIS INNOVATION
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To check out the Anthill SMART 100 Readers’ Choice winner for 2010, click here.
