The simple business plan: Can you describe your brand in one word?

Business strategists always suggest having a great "elevator pitch." In other words, if you were to encounter an influential figure in an elevator or at the theater, could you pitch your business in 30 seconds or less? Now what if you took this concept one step further and were able to boil down your business's essence into a single word? Here's how this simple business exercise can help define your brand and measure the success of your marketing strategy.

Benefits of brand simplicity

No matter how complex or esoteric your business is, you gain an advantage by presenting it to customers with a one-word description. Whether it's "innovation," "beauty," or "efficiency," you make it easy on your audience by allowing them to associate your organization with a single concept. This can be a very effective way to cut through a very cluttered marketplace.

Dharmesh Shah, co-founder and chief technology officer of HubSpot, outlined how important simplicity is when defining a personal brand, and the same can be said about your business. Ideally, this one word will come up whenever someone mentions your company and go on to serve as the basis for further conversation and the foundation of your business as you head into the next phase of growth.

Your business in one word

Nonprofits, tech companies, and mom-and-pop shop owners will all consider different choices when searching for the one appropriate word they feel defines their business. Grocers and others working with food, for example, would love to have the word "quality" associated with their store, but it takes a lot of work to live up to this simple business description. Other business owners may decide that "affordable" or "convenient" serves them better.

Tech companies that specialize in simplifying business operations should think about a target market when coming up with their one-word descriptions. Will your solutions always be "cutting-edge," or do you see your company focusing more on "practical" applications for small-market firms to use in growth stages? There is enormous potential in either case, but you are better off starting out with a singular focus that lets your target consumers know that your company is the right choice for their needs.

Nonprofits that battle a perception of organizational waste would corner an attractive piece of the market if "efficient" or "sustainable" were the word associated with their organization. Yet there are many other directions to pursue. A nonprofit known as "creative" might attract more funding than one known as the best at counting dollars.

Simple business measurement

Wanting to be described by a certain word and actively being described by that word are different matters entirely. Finding out how people see your company has to be a part of your strategy in defining your brand simply. Whether you launch a survey to measure impressions, or monitor social media pages for feedback and keywords, metrics are essential. Online surveys and social media marketing campaigns are two solutions that canhelp entrepreneurs take stock of their business in the live marketplace.

Finding the right way to measure your company's success may be as tricky as finding that one word to describe it. For a business that focuses on Millennials, your measurement should make it a point to look at mobile device analytics. Activity on social media, which serves as a platform for today's word-of-mouth recommendations, is critical for any brand operating in the modern marketplace. Wherever you find your target market gathering and talking online should be considered the place to go to measure success.

Boiling the essence of your business down to a single word will help you define strategy and position yourself in the marketplace. No matter how complicated things get, this simple business approach will deliver returns.

Business strategists always suggest having a great "elevator pitch." In other words, if you were to encounter an influential figure in an elevator or at the theater, could you pitch your business in 30 seconds or less? Now what if you took this concept one step further and were able to boil down your business's essence into a single word? Here's how this simple business exercise can help define your brand and measure the success of your marketing strategy.

Benefits of brand simplicity

No matter how complex or esoteric your business is, you gain an advantage by presenting it to customers with a one-word description. Whether it's "innovation," "beauty," or "efficiency," you make it easy on your audience by allowing them to associate your organization with a single concept. This can be a very effective way to cut through a very cluttered marketplace.

Finding out how people see your company has to be a part of your strategy in defining your brand simply.

Dharmesh Shah, co-founder and chief technology officer of HubSpot, outlined how important simplicity is when defining a personal brand, and the same can be said about your business. Ideally, this one word will come up whenever someone mentions your company and go on to serve as the basis for further conversation and the foundation of your business as you head into the next phase of growth.

Your business in one word

Nonprofits, tech companies, and mom-and-pop shop owners will all consider different choices when searching for the one appropriate word they feel defines their business. Grocers and others working with food, for example, would love to have the word "quality" associated with their store, but it takes a lot of work to live up to this simple business description. Other business owners may decide that "affordable" or "convenient" serves them better.

Tech companies that specialize in simplifying business operations should think about a target market when coming up with their one-word descriptions. Will your solutions always be "cutting-edge," or do you see your company focusing more on "practical" applications for small-market firms to use in growth stages? There is enormous potential in either case, but you are better off starting out with a singular focus that lets your target consumers know that your company is the right choice for their needs.

Nonprofits that battle a perception of organizational waste would corner an attractive piece of the market if "efficient" or "sustainable" were the word associated with their organization. Yet there are many other directions to pursue. A nonprofit known as "creative" might attract more funding than one known as the best at counting dollars.

Simple business measurement

Wanting to be described by a certain word and actively being described by that word are different matters entirely. Finding out how people see your company has to be a part of your strategy in defining your brand simply. Whether you launch a survey to measure impressions, or monitor social media pages for feedback and keywords, metrics are essential. Online surveys and social media marketing campaigns are two solutions that canhelp entrepreneurs take stock of their business in the live marketplace.

Finding the right way to measure your company's success may be as tricky as finding that one word to describe it. For a business that focuses on Millennials, your measurement should make it a point to look at mobile device analytics. Activity on social media, which serves as a platform for today's word-of-mouth recommendations, is critical for any brand operating in the modern marketplace. Wherever you find your target market gathering and talking online should be considered the place to go to measure success.

Boiling the essence of your business down to a single word will help you define strategy and position yourself in the marketplace. No matter how complicated things get, this simple business approach will deliver returns.

Guest Post: 5 Signs Your House Needs New Roofing - Roofing Companies - NYC

While you can always repair a small leak every now and then, a replacement might be needed before you know it. Here are the top 5 signs that will let you know if you need new roofing for your home.

Age

Do you have an old roof? Depending on the specific materials used, the average life expectancy of a structure is about 20 to 25 years. For those living in a place with heavy snowfall or high humidity, this life expectancy may be relatively shorter. The most ideal way to identify the integrity of your roofing structure is to hire a contractor who can conduct a thorough inspection. These professionals can spot any signs of aging right away.

Valleys

Valleys are sagging spots or small dips in wood, sheeting and among the shingles. These are the result of deteriorated rafters, often due to heavy snowfall or high humidity which causes the rafters to start to rot. Valleys can let rainfall come into your home which can lead to damaging leaks. Look out for these tiny but serious nuances which can also bring about a possibly harmful mold growth.

Deteriorating Shingles
Have your roof's shingles started to curl, buckle, tear apart or fall off? This might not be something you will notice instantly as shingles in most houses are overlapping. However, if you see some granules in the gutters or the whole shingles have slipped off, this is a sure indication of a major problem. Just like the roof structure itself, shingles are components with definitive life expectancy. This life span can change from climate to climate and home to home if you are in NYC. If you noticed any holes, it is high time that you hire someone who can check at the potential damage.

Off-brand Materials
For cost cutting and lower bid, there are contractors which use off-brand materials for construction of houses. If you are aware that the builders or previous owners of the house did this, it might be best to call another contractor. Off-brand materials like sheeting or shingles are usually made from lesser quality materials, with some pieces of sheeting or shingles unsound and irregular for roofing companies NYC. Such materials will never last long and could pose serious harm to you and your family in the near future.

Daylight in the Attic
When you have a well made house, there must be no daylight in the attic unless it comes through a window. Small shafts of light between boards might mean serious issues with roofing supports. Similar with valleys, this problem can take place if poor attic ventilation and excessive moisture causes the rafters to get moldy and start to rot.

Does your business make a difference, a product, or a point?

Whether you're trying to make a difference in the community, launch a new product, or change the way your business operates, you will find that every new brand has a steep climb to make when it comes to differentiating and marketing itself and establishing its unique position in the marketplace. Here are five tips for bringing your business to the next level in the public or private sector.

1. Isolate your brand's unique selling proposition

To ensure long-term prosperity, every organization must develop a unique identity in the market. While there's no need to reinvent the wheel, your brand must have a specific plan for making a difference in your industry. Identify what you do better than every other comparative brand and convey that uniqueness to investors and your target market in early company promotions and marketing campaigns. Remember, even if you're a nonprofit hoping to make a difference in the community, you'll need as much financial backing as any other company.

2. Put together a business plan

No matter where you plan to take your organization, your vision should be put into words. Once armed with a detailed blueprint, you can apply for loans, pitch your concept to investors, and crystallize ideas into coherent metrics that you can present to potential backers. No organization should take a concept public without a detailed, professional plan that shows you are prepared to meet your goals. This plan will help you attract customers as well as sufficient financial backing, and should be considered the first step in implementing your company's initial marketing strategy.

3. Develop a scalable marketing plan

If you don't want to set limits on your organization, designing a scalable marketing plan is the most logical way to proceed. Project who your audience will be five years down the line versus when you first launch your campaign. This approach involves looking beyond your brand's present reach in terms of geographical area, philosophical scope, and financial means. Strong marketing strategies that can be expanded and scaled later are far better than one-off campaigns done on the cheap. Once you have set a high standard with your earliest marketing efforts, you may need an infusion of capital to increase brand awareness, community impact, and good old-fashioned sales.

4. Protect your investment

Building a successful organization is the goal of all entrepreneurs. Before you achieve that success, you must ensure there are protective measures in place so your brand doesn't become lost in the modern-day "digital jungle." Though obtaining business insurance is a top priority for companies making products for public consumption, establishing safeguards should be on every organization's agenda. Maintaining a dedicated social media team, whether that means a single person or a dozen, is crucial when you are trying to manage a reputation online. As an entrepreneur, you don't have to be a master of technology, but you will need someone on staff who is.

5. Establish your legacy

Entrepreneurs trying to change an industry or become the next Steve Jobs should consider how the organization might look after you bow out. Securing your legacy means setting up a succession plan for leaders, considering how a buyout would affect the company, and finding ways to give back to the community. In fact, strong community outreach is one of the defining elements of successful modern companies. Begin by finding a worthy local charity to support. Also, consider fostering the next generation of entrepreneurs by becoming a mentor, which is often one of the most rewarding things a business leader can do.

There are countless types of organizations launched every day. But the need for smart planning, strong protective measures, and sound legacy building are what binds all entrepreneurs together.

How crowdfunding will change the business world

Financing a project through online contributions, also known as crowdfunding, was initially met with skepticism and its detractors were repeatedly stunned by every success. Now, however, it has proven to be far more than a fad and everything from major motion pictures, to personal vacations has been successfully crowdfunded. When it comes to the business world, the implications are just as big. Here's how crowdfunding could change the way business gets done.

A shift in financing power

"In the '90s, you would raise $5 million or $10 million in an IPO, but those days are gone, and that has created this black hole for companies," said Mark Cuban, the billionaire owner of the Dallas Mavericks, in a 2013 interview with the Washington Post. The low level of investment disappeared for start-ups, creating a business food chain that lost a good deal of innovation once dominated by small, hungry companies.

Making funding available by simply promoting a project online was unthinkable, even during the period Cuban discussed. Instead of smaller companies finding a way to compete with larger corporations on the basis of their new ideas, start-ups were often swallowed by the bigger fish in the business world. Crowdfunding radically shifted that power dynamic, and now, instead of a start-up failing in its search for angel investors or other sources of capital, the company has the opportunity to find life with a campaign through Kickstarter, Indiegogo or other popular crowdfunding sites.

Empowering entrepreneurs

For entrepreneurs that have been frustrated by a lack of funding in the past, the idea of raising money online may sound too good to be true. In fact, the only requirements for a solid crowdfunded campaign are a quality idea and the ability to generate publicity through the power of social networks and elsewhere online. This shift in funding potential stands to empower entrepreneurs in ways that haven't been possible for decades and, in many cases, doesn't require compensation because the crowdfunding paradigm typically specifies that contributed monies do not have to be paid back.

Additionally, it's not difficult to convince people of the worthiness of a good idea. Filmmaker Zach Braff, who managed to raise over $3 million with a crowdfunded campaign for his movie Wish I Was Here, perfectly illustrates the power of this business model. In a film industry awash in sequels, sci-fi blockbusters and comic book movies, independent filmmakers are having trouble making and distributing small-scale movies. In Braff's case, the public recognized the value of his small movie with heart and contributed in kind. Braff made his film and eventually found distribution, which, if even only for a brief moment, upended Hollywood's control over how modern films are financed.

Entrepreneurs with a product or service poised to challenge an industry's status quo can appeal to the public in the same way and redefine how small businesses are financed. Small contributions from thousands (or millions) of people can change the direction of an industry if the ideas are worthy and the fundraising campaigns on Kickstarter and other sites are successfully managed. The result? . . . Mark Cuban may no longer need to lament the loss of the dynamic wherein a scrappy small company challenges an industry Goliath.

Crowdfunding and monetizing creation

Reeling in contributions to a crowdfunded project may be easier when you allow people to join in the creation process. For example, a business making something unique can invite prominent contributors into the factory to see how the product gets made and meet the people running the show. By monetizing the creation process itself, businesses have a way of garnering support.

Compared to the traditional way of raising capital, which typically is by promising returns to investors, crowdfunding offers much more leeway. This difference gives entrepreneurs thinking way outside the box the opportunity to pursue risky projects. In turn, the amount of innovation for financial backing increases, which in turn puts more established companies on their heels. Consumers who are contributing to these funds benefit when the product makes it to market. By investing, they not only receive the rewards of being "first-in", but as a bonus, they also get to brag to their friends and colleagues about how they astutely recognized and help bankroll a hot new enterprise.

The bottom line: with the rise of crowdfunding, entrepreneurs looking for start-up capital now have more options than ever. Funding your idea may be only a few clicks away.