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Painting her way out of a corner

Owner of a wall mural firm is unsure where to focus her efforts and limited funds.

SMALL-BUSINESS MAKEOVER

November 24, 2008|Cyndia Zwahlen, Zwahlen is a freelance writer.

Elephants on the Wall already has the strong product, great packaging and display materials needed to attract big retailers, he says.

"It's at a place where it's got really good potential for a major chain to pick it up," Cooley says.


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Newton is jazzed to be working on the low-cost line for Jo-Ann's, but she says she has had little luck cracking the corporate wall at other national chains.

Cooley helped her create a hit list by category: Baby product stores; broad category stores, such as Target Corp.; paint and wallpaper stores and home improvement stores such as Lowe's Cos. The consultant, who says he knows his way around the new-product development scene at several major retailers, will pick 10 to contact. When a buyer agrees to look at the product -- and he hopes four to six will -- he'll turn the work over to Newton.

"It's a godsend," Newton says. "I hit a wall trying to reach these people, I don't know whom to call and then they don't return calls."

* Create a strategic business plan. Like many small-business owners, Newton has never sat down and written a business plan. Doing so would force her to take time for the planning and business development strategizing she has said she wants for her business.

Cooley says he will help her prepare a business strategy plan that will focus on creating goals and strategies as the business nears the end of what he considers Phase 1 of its growth.

"This type of plan is more appropriate because the business needs more action steps than planning steps," he says.

He wants to see three to five strategies for the next two phases of growth that cover product development, marketing, financing and other key areas over the next five years. Each strategy will include the steps to be taken and designate who will be responsible for them.

* Test pricing. Newton has enough margin to enable her to experiment with the lower pricing that large retailers may require, the consultant says. But she'll have to keep her eye on the price structure, test different levels and product sizes.

She may be able to make a profit on a lower price if she cracks a larger retailer, which leads to higher volume sales, he says. Being flexible is important to get her product in the brick-and-mortar retail environment he thinks is best for it.

"It's got a quality, and yet a simplicity to it, that makes its greatest impact when seen," Cooley says.

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