Table of Contents
Introduction
Business Write Now! is a startup consulting firm focused on serving the planning and financial needs of infant businesses, social enterprises, and ministries. Owner and principal consultant, Audrey Wyatt works with her husband Marti Wyatt in a collaborative approach with clients. Business Write Now! offers business planning, accounting, and other infrastructure services to startup organizations.
The Company
Audrey Wyatt specializes in the discipline of writing business plans and proposals. Marti Wyatt specializes in the financial aspects of startups. Together, they have a combined experience of over 40 years in the areas of management, accounting, auditing, and human resources.
Business Write Now! offers a list of services for business owners to choose from, depending on their particular business needs. This includes business plan preparation, accounting services, payroll services for startups with less than five people, management coaching, and human resources advising.
Business Write Now! focuses on start-up businesses, social enterprises, and ministries preferably in the earlier stages of operation. Small businesses make up a sizable majority of U.S. markets. Business Write Now! prefers to establish relationships with young operations and continue to nurture that relationship over the long term.
Business Write Now! was established by owner and principal consultant, Audrey Wyatt as a sole proprietorship in Dallas, Texas. Audrey has extensive experience in business planning and finance, including a previous Controller position, as well as entrepreneurial experience in starting two private schools in previous years. Marti Wyatt brings extensive experience in the nonprofit and ministry sectors in the areas of auditing and accounting.
The Market
The business consulting industry is very fragmented. Several large multinational companies dominate the industry while many smaller (and often more specialized) firms occupy their market niches. Major management consulting companies, such as McKinsey, Bain, and Boston Consulting Group, have established their dominant position by providing services to the leading companies in various industries. Consulting practices of the major accounting firms (a.k.a. the Big Five) have established worldwide presence and sell their packaged services to companies of different sizes and industries. At the same time, numerous firms and individual business consultants prosper in the market niches that bigger players consider unprofitable to enter.
Business Write Now! targets a market niche. Organizations who are in their infancy are the target market of this firm. Business Write Now! intends to stay on the pulse of new business activity within the local Dallas area. Additionally, business contacts, referrals from among previous clients, and internet marketing efforts will be made in pursuit of new clients. Start-up companies are attractive because owners often lack the broad range of knowledge and expertise required to launch a new business. There is a serious need in the marketplace, and certainly a significant demand for, these types of start-up consulting services.
Business Write Now! is competing with local consulting firms as well as the Dallas Chapter of SCORE which provides free business assistance to residents of Dallas and other North Texas Cities. Other organizations that offer small business training and development are North Texas Small Business Development Center and Bill J. Priest Institute for Economic Development.
The Business Model
Business Write Now! uses a combination business model called "Chickens and Pigs". Management professor and author, Harold Star, has done extensive research on business models and planning, and has discovered four model types: chickens, pigs, locusts, and black widows. He has also written a book on the subject by the same name, Chickens and Pigs.
A synopsis of the four models is:
•Pigs - Solve Customer Problems - Characterized by nonrecurring revenues, uncertainty in active customers, project-based, relies heavily on human capital, relational, moderate risk
•Chickens - Manage Customer Problems - Characterized by recurring revenues, certainty in active customers, customers stay in the pool longer, relational or nonrelational, low risk
•Locusts - Activators - Characterized by repeating revenues that are generally small, but nonrecurring, tons of customers, nonrelational, large upfront investment in technology or physical buildings, activates mass customers by appealing to their needs and desires, high risk
•Black Widows - Partners - Characterized by recurring revenues, single large customer, relational, very high risk
According to Star, the optimal combination of models is "Chickens and Pigs" because of the ability to share customers between models. Business Write Now's primary model is a pig model where projects are finite and customer problems are solved. Yet, Business Write Now! is interested in long term relationships with clients. Therefore, one of the primary goals is to move customers from pigs to chickens, whereby accounting challenges are managed from month to month, hence generating recurring revenues and long term relationships.
Financial
Within the next three years, Business Write Now will grow to a consulting firm helping a mix of project based and month to month accounting customers, grossing revenues of $125,000 by year three.
The mission of Business Write Now! is to engage in collaborative business planning with startup organizations which produces a roadmap to social and financial success. Within the next three years, Business Write Now! will grow to a consulting firm which both solves and manages the problems of infant organizations, grossing revenues of $125,000 by year 3. We desire to equip startups with the necessary business and entrepreneurial skills which better empowers them to effectively help their respective customers and communities.
Business Development:
- Develop consulting resources
- Set up business systems
- Obtain certifications for Master Consultancy and Professional Business Writer
Financial Management:
- Obtain sales of 84,000 in year 1, $100,000 in year 2, and 125,000 in year 3
- Develop detailed budget
- Implement primary and secondary services for primary and residual revenue
Branding and Marketing:
- Market competitive advantage
- Market to potential project based customers and month to month accounting customers
- Develop a comprehensive marketing plan
In addition to the above objectives, Business Write Now! adheres to the following values:
- Honoring God in our work
- Building wealth for ourselves and our clients
- Developing relationships founded on mutual trust
- Unifying and connecting entities for greater work in the community
- Audrey Wyatt and Marti Wyatt's broad range of specialty areas that complement each other.
- A high level of experience in these specialty areas.
- A collaborative approach with clients.
- An intentional development of long-term client relationships.
- A tenacity to stay true to foundational principles and values
Highlights
