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& DESIGN Home Page Architecture Brand Equity Auto Design Game Room SMALLBIZ Smart Answers Success Stories Today's Tip INVESTING Investing: Europe Annual Reports BW 50 S&P Picks & Pans Stock Screeners Free S&P Stock Report SCOREBOARDS Hot Growth 100 Mutual Funds Info Tech 100 S&P 500 B-SCHOOLS Undergrad Programs MBA Blogs MBA Profiles MBA Rankings Who's Hiring Grads | | AUGUST 1, 2000 SMART ANSWERS A Self-Portrait That Can Nab Profits How to draw up a company profile that can help secure long-term business
Q: I have a small printing business, and I want to get accredited by a large food chain. They are asking me to provide them with a company profile. What should I put in it, and how do I present it so as to project a professional look? --T.D., Quezon City, Philippines A: It sounds as if the food company is considering putting you on its list of approved vendors, which could be a very important step for your company. Before you create a company profile, check back with them first and see whether the food chain has a standard process or form that they expect you to follow. In the U.S., experts say, a company profile can run the gamut from simple ownership information, number of years in business, and a few references to much more exhaustive data, including a current profit-and-loss statement, bank references, a credit report, and lengthy ownership records. Assuming the food chain does not have any specific guidelines, you might start with a minimum amount of information, such as a description of your business, how long it has been in existence, specific information about its size (including yearly billings), current customer references, and ownership information. Sending along relevant samples of your work might also be in order. If you want to put together a more thorough profile, for use in this instance and also as a reference for future contracts, New Orleans-based entrepreneurial consultant John B. Vinturella suggests that you include the following categories: • General -- listing your corporate status, officers, address, years in business, and references. • Financial Health -- including your Dun & Bradstreet rating or its equivalent, and possibly your sales volume. "Provide financial statements and tax returns only if asked but volunteer information on outstanding liens and pending legal action," Vinturella advises. • Capacity -- a category in which you would show that the proposed relationship is within your capabilities for on-time delivery and that you have the necessary equipment, technical skills, and productive capacity to meet or exceed the potential client's requirements. • Performance -- a record showing that you have adequate production controls and quality assurance methods, perhaps including customer references as to quality and timeliness. The profile should highlight your company's strengths, says Vinturella, and downplay -- but not hide -- any limitations that might affect your ability to satisfy this client. If the client's requirements are a reach for your company, ask if you may start with a segment of their business -- one that you know you can do well -- and grow into the whole job. Don't make any promises you can't keep. Once you have submitted the profile, you should follow up with the food chain. Aim for a face-to-face meeting with a decision maker at its headquarters. "You can't just send the requested information and then wait for the phone to ring," says John Delmatoff, a small-business coach based in Diamond Bar, Calif. In preparing the company profile, you may also look for ways to set your business apart from rival printers vying for the same business. "In any event, you need to get on the customer's radar screen and stay there, so that when a need arises that your company can meet, you will be in a top-of-mind position at the customer's end." Have a question about running your business? Ask our small-business experts. Send us an E-mail at smartanswers@businessweek.com, or write to Smart Answers, BW Online, 46th Floor, 1221 Avenue of the Americas, New York, NY 10020. Please include your real name and phone number in case we need more information; only your initials and city will be printed. Because of the volume of mail, we won't be able to respond to all questions personally.  By Karen E. Klein  | | |
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