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jerryking : business_planning   54

My Worst-Ever Business Plan Engagement - Planning, Startups, Stories | Bplans
what I think a business plan consultant is supposed to do: optimize the planning process for the client, increase the client's chances for success, share your expertise, do your best, give value for time and money spent.
business_planning  start_ups 
june 2015 by jerryking
A billionaire’s guide to productivity - The Globe and Mail
Contributed to The Globe and Mail
Published Wednesday, Feb. 11 2015

1. Prioritize. Rank the level of importance of family, me time, and work. Think about the areas of life that need nurturing in order to feel more fulfilled. It is essential to strike a balance to lead both a happy and productive life.

2. Allocate time (JCK: lead time) to maximize an impact (JCK: leverage or return on effort). Forewarned is forearmed. Plan ahead how you will use your time – after all, knowing your schedule is half the battle.

3. Know your natural penchants. If you find that the time spent on these activities does not give you a high level of return, consider allocating your time more thoughtfully.

4. Reduce uncertainty, increase accountability. A lack of clarity is productivity’s greatest enemy.

5. Know when to be a lone wolf. It is important to know your strengths. What tasks are you better off performing on your own? What tasks can you delegate?

6. Establish a nurturing culture. Productivity is easier to achieve in the right environment.

7. Measurement gets results-- measure performance to make continuous improvements. But make sure that you measuring the right things.
time-management  productivity  GTD  JCK  lead_time  priorities  strengths  self-discipline  business_planning  reflections  work_life_balance  uncertainty  clarity  affirmations  self-awareness  ksfs  preparation  penchants  predilections  measurements  proclivities  willpower  high-impact  time-allocation  return_on_effort 
february 2015 by jerryking
Five questions to hone your business strategy - The Globe and Mail
Special to The Globe and Mail
Published Sunday, Sep. 28 2014

1. Why does our business deserve to succeed?
2. What would a new CEO do?
3. Imagine it is three to six years in the future and the proposed strategy has been unsuccessful. Why did it fail?
4. What would have to be true for our strategy to succeed?
5. Would I put my own money into this?
strategy  business_planning  Harvey_Schachter  execution  effectiveness  assumptions  anticipating  questions  biases  overconfidence  self-delusions  skin_in_the_game 
september 2014 by jerryking
Bill McFarland: Why it’s crucial to embed innovation in business plans - The Globe and Mail
TORONTO — The Globe and Mail
Published Tuesday, Apr. 29 2014,

When it comes to innovation, wouldn’t it be better to be second--to let another company assume the headaches and expense of innovating first?

A lack of drive to innovate or even taking solace in being second best has been a trait of Canada’s business DNA. ... innovation as a means to try out new things, even if they mean going out on a limb, with a greater possibility of failure. But he notes the importance of building innovation into a business plan. Some companies, he said, also reward employees for trying and even failing, setting up a company culture in which not trying is seen as a bigger problem than continual success.
PwC  fast_followers  innovation  business_planning  CEOs  Sobeys  grocery  supermarkets  customer_experience  failure  organizational_culture  mediocrity  Michael_McDerment  messiness 
september 2014 by jerryking
Knowledge is the key -
December 6, 2013 12:01 am
Knowledge is the key

By Feargus O’Sullivan

"Many business plans come past my desk, often from young people with possibly good ideas but very little experience. Without base knowledge of your industry, often you’ll fail. That’s the last thing a young entrepreneur wants to hear, but I see things going wrong so often because they lack fundamental business understanding.

“If I had any advice for my younger self, I’d say read Ayn Rand. I’ve always been a libertarian, a believer in capitalism, freedom and the individual. That’s what keeps the world afloat. Rand defined seven virtues that we have running through the business, [rationality, productiveness, pride, independence, integrity, honesty and justice] ... because we thought they were good guidance for both a fulfilling life and for a successful organisation.
Ayn_Rand  knowledge  libertarians  virtues  business_planning  advice  industry_expertise  young_people 
december 2013 by jerryking
Big Help for Small Businesses at the Library -
August 29, 2006 | WSJ | By TARA SIEGEL BERNARD.

Big Help for Small Businesses At the Library
Commercial Databases, Assistance on Research And Classes Are Offered
small_business  market_research  business_planning  start_ups 
january 2013 by jerryking
Top 10 Business Plan Mistakes
March 15-21st, 2006 | | Andrew Clarke.

1. The plan is poorly written.
2. The plan presentation is sloppy.
3. The plan is incomplete.
4. The plan is too vague.
5. The plan is too detailed.
6. The plan makes unfounded or unrealistic assumptions.
7. The plan includes inadequate research.
8. You claim there's no risk involved in your new venture.
9. You claim you have no competition.
10. The business plan is really no plan at all.
problems  business_planning  assumptions  market_research  competition  risk-assessment 
december 2012 by jerryking
Deals Close Faster With Due Diligence Filters
May 1, 2000 | Venture Capital Journal | William Zucker.

From Introduction capital's 7th annual Canadian Alternative Investment Forum

Values and ensuring ethical alignment, time horizon or milestone alignment.
Bewares partners piggybacking continuously on your DD.
Can your involvement add value to a project? If not personally, are there people in your network who cans how you holes that you cannot see?

Look at the financial return, the quality of the asset, the quality of management.
due_diligence  deal-making  venture_capital  vc  start_ups  business_planning  trends  CAIF  speed  time_horizons 
september 2012 by jerryking
Build a Practice Niche by Assisting Clients with Business Planning
Dec 1991 | The Practical Accountant | by Mark Scally and Mark C. Smitt.
Smaller companies tend not to have any formal business plans, and those that do often fail to implement them properly. Accountants ran assist their clients wlth the business planning process. The process must be tallored for each company's unique characteristics, and every consultant uses a slightly different process. The following process has been adapted from the traditional model to fit the typical closely held business: 1. Analyze internal and external factors. 2. Develop a mlssion statement. 3. Set goals. 4. Develop a marketing and sales strategy. 5. Perform financial projections. 6. Draft action plans. 7. lmplement the plan. 8. Put the proper organizational structure and management team in place. 9. Implement the necessary information systems. The planning process gives closely held companies a comprehensive approach for responding to uncertain economic times.
business_planning  management_consulting  niches  small_business  privately_held_companies  JCK  uncertainty  action_plans  mission_statements  goal-setting  implementation  organizational_structure  formalization  professionalization 
august 2012 by jerryking
Ten Commandments of Raising Money
(1) Assume the $ is available.
(2)Know you lending/investing options.
(3)Know your lends/investors.
(4) Make sure s/he knows you.
(5) Ask before you need the money.
(6) Follow the principles of salesmanship.
(7) Ask for more than you need.
(8) Business plan of course.
(9) Make his/her job easier.
(10) Maintain the relationship.

"It's really important to think about what risk you are trying to reduce when you raise money - is it product risk, team risk, market risk or something else? Investors really want to know what milestone you are trying to reach with the money. "
funding  financing  banks  pitches  business_planning  investors  risk-management  product_risk  team_risk  market_risk 
july 2012 by jerryking
Winning Market Leadership: A Guide for Marketing Plans
December 1996 | Ivey | Terry Deutscher.

Define the arena:
- by customer group,
- by customer benefit
- by technology
- by value-added role

Identifying Attractive opportunities
uUnderstanding the market
Fit with Core capabilities
Competitive Analysis
Ivey  marketing  business_planning  frameworks 
july 2012 by jerryking
* Have a plan for the future – perhaps a surprise to some, but many farmers don’t have a plan in place that paints a vision for where they want to take their operation over the next 2, 5 and 10 years.
• Have credit in place before it is actually required – it is human nature to leave things to the last minute.
• Implement a sound hedging strategy – in addition to the system of crop insurance in place in this country, there are many ways that Canadian farmers can take actions to manage their risk. Diversifying into new businesses is one example.
• Well-managed risk can pay off – at the same time, taking on some risk that is prudent and ts the risk pro le of the farming operation can pay off handsomely for farmers. In such a volatile and fast paced environment, there are bound to be some buying and selling opportunities that open up. Knowing when to take advantage of them can separate successful farms with those that muddle along.
• Know your costs – many producers have a good sense of how their top line is performing. But it is just as impor-tant to have a good understanding of the cost side of the equation.
• Maintain adequate liquidity and reasonable leverage – in order to mitigate the risks associated with increasing asset prices, it would be prudent for farmers to ensure that they have sufficient liquidity and manageable leverage if they are expanding.
• Use reasonable interest rate assumptions in assessing investment opportunities – even though borrowing costs are unusually low, farmers must be mindful of the fact that this low-rate environment won’t last forever.
agriculture  uncertainty  volatility  farming  liquidity  leverage  hedging  futures_contracts  diversification  new_businesses  risks  risk-management  risk-taking  OPMA  WaudWare  interest_rates  vision  long-term  never_forever  business_planning  credit  costs  anticipating  risk-mitigation  low-interest  cost-consciousness 
may 2012 by jerryking
A New Way to Teach Entrepreneurship – The Lean LaunchPad at Stanford: Class 1 « Steve Blank
A New Way to Teach Entrepreneurship – The Lean LaunchPad at Stanford: Class 1
Posted on March 8, 2011 by steveblank
Junior_Achievement  entrepreneurship  teaching  business_planning  lean 
december 2011 by jerryking
Evaluating the Wealth-Creating Potential of Business Plans:
Winter 2006 | The Journal of Private Equity | James O . Fiet and Pankaj C . Patel

This research tests a novel, theoretically-based approach for evaluating and predicting business plan performance. Using hidden, but known historical cases, it successfully classified 31 out of 31 venture capital funded ventures into 3 levels of performance. These levels of performance were less than 20% ROI, between 20% and 35% ROI and greater than 35% ROI. Moreover, the results accounted for 74% of the variance above the expected ROI to investors based on the original business plan estimates. This research is important to entrepreneurs, public policy analysts and investors because it may increase the success rate of estimating commercialization efforts.
business_planning  wealth_creation  success_rates 
november 2011 by jerryking
What You Need to Succeed - Thomas Stemberg - Highland Capital Partners
By Thomas Stemberg | Jan 1, 2007

business plans are interesting chiefly as indications of how an entrepreneur thinks. Here at Highland Capital Partners, the venture capital firm I'm part of now, we spend most of our time talking about what really matters: management and market. If you have the right management team and an exciting market, the rest will take care of itself. I suspected that was true before I came here--it had always been true for me. Now I know it for a fact.

(1) The right people: Folks who have been there and done (something like) that.
(2) The right market: Preferably, it involves an absolute mob scene.
(3) The right answers: Sometimes you need an outside perspective.
Staples  entrepreneur  business_planning  venture_capital  Lululemon  Highland_Capital  fresh_eyes  large_markets  outsiders  the_right_people  what_really_matters 
november 2011 by jerryking
Fine tuning for the perfect pitch
August 3 2005 18:49 | Financial Times | Fergal Byrne.

The pitch is the business plan distilled to its essence: a 10- to 20-minute presentation followed by a question-and-answer session. In some cases, particularly when facing venture capitalists, the Q&A can take place during the pitch....“The business plan is the all-encompassing thesis on why the business is a good opportunity, the pitch is the entrepreneur’s defence of the opportunity,”...
The odds of pitching success are not high: one study of Canadian business angels, for example, suggests almost three-quarters of opportunities were rejected at this stage before the business plan was given serious consideration.
(1) Passion wins hearts and minds.
(2) Less is more. A pitch needs to be concise to whet investors’ appetites. Guy Kawasaki, from Garage Venture, encapsulates his approach in his “10/20/30 rule”. He recommends entrepreneurs present no more than 10 slides, speak for no more than 20 minutes and write in 30-point font size. “The brevity forces an entrepreneur to purify his or her pitch.
(3) Become the product. Entrepreneurs need to apply the same discipline to sell themselves as they do to sell their product,
(4)Solve a problem – segment the market. Products need to solve a specific problem. Too often investors see ideas that are “solutions looking for a problem” or solutions trying to address too many problems.
(5)Master the domain – be candid. Answering investors’ questions during the Q&A is a vital part of the screening process. Entrepreneurs need to respond intelligently, to show they can read people, listen and interact...It is vital that presenters do not become defensive or aggressive during the presentation but respond in a calm, conversational manner.
entrepreneurship  start_ups  pitches  business_planning  angels  Guy_Kawasaki  Communicating_&_Connecting  presentations  problem_solving  passions  product-market_fit  specificity  concision  brevity 
november 2011 by jerryking
Exit planning For Entrepreneurs
April 30, 2007 | National Post | Jonathan Chevreau.

Business succession planning may be a $10-trillion market in North America, according to Perry Phillips, coauthor of a new book titled just that: The $10 Trillion Opportunity: A Guide for Professional Advisors.

Phillips cites studies that show 70% of Baby Boomers currently running small and medium- sized businesses will want to exit by 2015.

In Canada, the opportunity should be worth $1.3-trillion, he estimates
exits  business_planning  entrepreneur  books  succession  JCK 
november 2011 by jerryking
Building the business of art - The Globe and Mail
From Saturday's Globe and Mail
Published Friday, Jun. 03, 2011

Artscape president and CEO Tim Jones spends his days finding and
creating spaces around the city for artists. His big idea for Toronto
would be to give artists the tools – under one roof – to develop the
business side of their work...Founded in 1986, Artscape grew out of the
Toronto Arts Council’s recognition that it needed to defend artists’
live-work space. Since then, the not-for-profit has been working against
the forces of gentrification to maintain affordable studio space.
affordability  artists  creative_class  incubators  art  business_development  business_planning  gentrification  Artscape 
june 2011 by jerryking
SBA Partners Help Small Businesses
Oct 2007 | The CPA Journal | Henry Wichmann Jr, Ken M Boze.
Many small start-ups neither want to make a biz plan nor can afford to
pay an accountant to do so. Accountants should refer clients to an SBDC
for help preparing a biz plan. A CPA firm creates credibility, and
avoids wasting time if the new venture does not appear viable.
Biz plans should not be an obstacle in starting or improving a business.
Biz plans' advantages include:

* Surfacing assumptions related to the business venture.
* Helping entrepreneurs to decide whether to start a business.
* Helping to decide how much financing is needed.
* Helping principals to think through goals & strategies.
* Developing income statements, balance sheets, cash forecasts, and
break-even analysis.
* Identifying strengths & weaknesses.
* Identifying the customer base for sales.*
Biz plans have a few disadvantages: They are time-consuming to prepare
and costly if an entrepreneur lacks accounting knowledge.
ProQuest  SBA  small_business  business_planning 
june 2011 by jerryking
Translation as Ambassador - Publishing and National Pride
December 7, 2010 | | By LARRY ROHTER. Among
foreign cultural institutes and publishers, the traditional American
aversion to literature in translation is known as “the 3 percent
problem.” But now, hoping to increase their minuscule share of the
American book market — about 3 percent — foreign governments and
foundations, especially those on the margins of Europe, are taking
matters into their own hands and plunging into the publishing fray in
the United States.

Increasingly, that campaign is no longer limited to widely spoken
languages like French and German. From Romania to Catalonia to Iceland,
cultural institutes and agencies are subsidizing publication of books in
English, underwriting the training of translators, encouraging their
writers to tour in the United States, submitting to American marketing
and promotional techniques they may have previously shunned and
exploiting existing niches in the publishing industry.
From Open books, open borders ☑
OCTOBER 20, 2017 | FT| Janan Ganesh.

The real prize is to comprehend another country’s thought patterns, speech rhythms, historic ghosts and unconscious biases — and these seep out from the stories it tells and the way it tells them....Harvard psychologist Steven Pinker cites the spread of literacy as a reason for the long-term decline of human violence. To read another person’s story is to end up with a larger “circle of sympathy”. But even if America’s concern is the narrowest raison d’état, rather than world peace, it would profit from reading beyond its borders.

The minimum return is that more American readers would have more fun. The headiest writing tends to come from places that are ascendant enough to matter but raw enough to retain some measure of dramatic chaos: 19th-century Britain and Russia, mid-20th-century America, and now, perhaps, early 21st-century Asia. It is not just in economics that protectionism stifles.
translations  publishing  business_planning  books  market_entry  insights  niches  national_pride 
december 2010 by jerryking
hattrick: you, me, and google...: Meet my customer's customers!
Technology today is so much easier to use that developing
in-house applications is more and more doable HOWEVER, the problem is
that in-house developed software needs to be documented,
software  in-house  business_planning 
april 2010 by jerryking
IT Forecast for 2010 |
"making money off of in-house developed software is usually more of a pipe dream than not."
hospitals  software  business_planning  in-house 
april 2010 by jerryking
Hospitals implement new buy decision software marketed under joint venture ProQuest
Apr 2006 | Hospital Materials Management |

ProQuest (hospital w/20 (commercialize w/8 software))
ProQuest  proposals  hospitals  software  business_planning  in-house 
april 2010 by jerryking
For Many Entrepreneurs, Running the Show is Stressful -
JANUARY 10, 2010 | Wall Street Journal | by COLLEEN DEBAISE.
Work-related pressure can lead to a host of stress-induced problems:
headaches, sleepless nights, irritability, weight gain and lost
productivity, among others. The best method of combating
business-related stress is to plan. Entrepreneurs who haven't updated or
assembled their business plan (for more on business plans, click here)
can feel directionless, inefficient and overwhelmed— all of which
contribute to stress. Writing out even a simple plan can prevent
overload while also providing a viable road map to success.
small_business  planning  business_planning  overwhelmed  directionless  inefficiencies  roadmaps  stressful 
january 2010 by jerryking
Discovery Driven Planning
Wharton's Ian MacMillan and Columbia's Rita Gunther McGrath,
articulated a system they term "discovery-driven planning" in their
August 2000 book, The Entrepreneurial Mindset. "[D]iscovery-driven
planning," they wrote in an earlier article, "acknowledges that at the
start of a new venture, little is known and much is assumed." This they
contrast with conventional, "platform-based" planning, in which
"assumptions underlying a plan are treated as facts -- givens to be
baked into the plan -- rather than as best-guess estimates to be tested
and questioned." For launching a new venture, they advocate drawing up a
checklist of all key assumptions, a timetable for proving each one, and
what they call a "reverse income statement" -- a list of threshold
economic criteria that must be met if the project is to go forward.
business_planning  entrepreneurship  howto  start_ups  discoveries 
october 2009 by jerryking
Why Business Plans Don’t Deliver -
JUNE 22, 2009 | Wall Street Journal | by JOHN W. MULLINS.

How to write a business plan that won’t end up in the trash. Identifying the five most common pitfalls and how to avoid them.
business_planning  entrepreneurship 
june 2009 by jerryking
Guest Speaker: The Real World | Printer-friendly version
October 2007 | Inc. Magazine | By George Gendron. Article
counsels to forget the elaborate business plans. Kids with passion are
our next great entrepreneurs.
entrepreneurship  Colleges_&_Universities  business_planning  endowments  Junior_Achievement 
may 2009 by jerryking
Resilience vs. Anticipation: The West is resilient and can roll with the shocks. The East copes through anticipation, the static planning that assumes perfect foresight. - Reason Magazine
August 25, 1997 | Reason | by Virginia Postrel. Great article
outlining the different approaches to living life, business, etc.
There's an East coast "anticipation" or planning approach vs. a West
coast "resilience" approach.
resilience  strategy  anticipating  business_planning  forward_looking  foresight 
may 2009 by jerryking
English Lessons -
DECEMBER 10, 2007 WSJ article by DEBORAH BALL
* Forcing charities to rewrite business plan three or four times to
ensure that donation help them reach new stage of growth (milestones).
* New Philanthropy Capital
* Analysts prepare two-page reports that resemble investment brokers'
notes, giving a snapshot of the risk level of the charity's work, its
growth prospects and the funding it needs to achieve certain results.
NPC posts the research on its Web site for users to download at no
high_net_worth  philanthropy  charities  business_planning  milestones  United_Kingdom 
february 2009 by jerryking
Submit A Business Plan
Advice from Sequioa Capital on creating a business plan.
business_planning  Sequoia 
february 2008 by jerryking

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