Explore The Often-Overlooked Operational Costs Involved in Developing Accurate Cash Flow Projections, and Gain a Thorough and Insightful Understanding of the Ongoing Expenses Components Necessary to Sustain a Successful Small Business.
How To Plan for Unseen Small Business Operating Costs Read More »
Delve Deeply into The Underappreciated Realm of Hidden Startup Business Expenses That Entrepreneurs Frequently Underestimate, And Gain a Thorough and Insightful Understanding of The Components That Are Truly Essential in Embarking on The Journey to Establish a Successful Small Business.
How To Plan for Unseen Small Business Startup Costs Read More »
In A World Overflowing with Information, The Unusual Tale of a Business Plan Reminds Us That Even the Most Carefully Crafted Strategies Can’t Guarantee Success, Emphasizing the Importance of Adaptability and Common Sense in Entrepreneurship.
How Overconfidence in Your Business Plan Can Lead to Failure Read More »
Discover the Paradox of Technology and How It Complicates Our Lives Despite Promising Simplicity. Explore The One-Downing Strategy That Empowers Small Businesses to Differentiate Themselves by Offering Simplified Solutions in A Crowded Market. Uncover Real-Life Examples of How to Remove Unnecessary Complexity from TVs And Car Radios, Highlighting the Importance of Focusing on Users’ Essential Needs. Embrace Simplicity and Improve User Experience to Captivate Customers Seeking Hassle-Free Solutions in A Tech-Centric World.
How To Harness the Paradox of Technology with One-Downing Tactics Read More »
The Most Important Part of Developing a Business Plan, Is Not the Final Product or The Destination but What You Learned During the Process of Doing It.
Bottom Line: It is the Business Plan Journey, Not the Destination That is Important Read More »
Entrepreneurship has changed in recent years and why you may no longer need to write the classic version of a business plan.
Why Being Told You Need a Business Plan May Be Bad Advice Read More »
If you want to scare a bunch of business-school students, show them what it really takes to be an entrepreneur.
The Smartest Business Model Ever Read More »
The Planning Fallacy States That People Often Overestimate the Amount of Time They Have to Complete A Task and Underestimate the Amount of Time It Will Take to Do So.
Why You Need to Beware of The Planning Fallacy Read More »
Most guides on building a business involve the same sort of rehashed content. The thing is a lot of these pieces of advice aren’t true. They’re either misinterpreted by the new entrepreneur or they’re completely wrong.
Most People are Wrong about How to Build Your Own Business, Here’s Why Read More »
This business plan template and guide is the result of 20 years of their research into the types of business plans that help entrepreneurs and executives raise funding and build thriving companies. It’s primarily for those who have never created a business plan, but there’s plenty of advice for those who have written one or many plans before.
Business Plan Template and Guide Read More »
The mindset of “execute the plan” should be more accurately stated as “Plan as you execute” to reinforce the idea that businesses need to test assumptions.
You Need to Validate Your Assumptions Before You Execute the Plan Read More »
The role of CEO and President, and sometimes Chairman of the Board are often used interchangeably. In a small business this might be true, but each title has a different set of duties.
CEO vs President – You Need to Know That Their Roles Are Different Read More »
What if you had a crystal ball that would let you see into the future to see if demand for your product or service was going to get stronger or weaker with time. Well, you can stop wishing. There is such a tool.
How to Predict the Future with Demand Curves Read More »
You need to shape the future rather than predict it. Why a manager entrepreneur approach is very different from a founder entrepreneurs
Exploit the Future by Shaping It – Don’t Try to Predict It Read More »
Conventional business advice discourages entrepreneurs from practicing the leverage contingency principle. Instead of encouraging the entrepreneur to make small low-cost incremental steps to observe what happens, conventional wisdom recommend extensive upfront planning as a way to hit their ultimate target or goal on the first try without any type of feedback loop to test assumptions during the development process.
Leverage Contingency Principle – Planning for the Unexpected Read More »
Learn how the strategic partnership principle practiced by founder entrepreneurs can help you build products for little or no cost
Strategic Partnership Principle – The Truth about Competitive Analysis Read More »
Manager entrepreneurs use causal reasoning to focus on the “expected return”. Founder entrepreneurs use effectual reasoning to focus on “affordable losses.”
Affordable Loss Principle – Reaching Markets with Minimum Resources Read More »
The reasoning style of the manager entrepreneur, with their predominantly causal reasoning, approaches a business startup very different from the founder-entrepreneur, who approaches a startup business primarily with effectual reasoning.
How Your Reasoning Skills Can Affect Your Business Success Read More »
Previously, we looked at how the startup landscape has changed and that you might not need a formal business plan to successfully launch your business. In this post, we will look into why we keep getting the same old business advice. What has emerged, as the funding and risk gap has widened, is a greater
Why The Business Advice You Are Getting Is One Sided Read More »
Innovations and manufacturing businesses have different planning requirements than the more common support and local service businesses.
Why The Business Planning Advice You Have Received Is Probably Stale Read More »
The SBA has it wrong. A business plan is not always what you need. Financial planning is advisable to the extent that you have access to enough money or capital to conduct your first few experiments. However, small business counselors, mentors, and the SBA often encourage ALL fledgling businesses to write a business plan. This
Forget Writing A Business Plan Read More »
There is a bit of an injustice in the way entrepreneurs are told about the business planning process. First, new entrepreneurs are told that to get money from a bank they need a business plan. While there is some truth to this, a major missing piece is that they will likely not get any funds
It Is The Knowledge You Gain In All Facets Of Business That Will Ultimately Help You Achieve Business Success.
Take Baby Steps To Avoid Business Failure Read More »
I’m often asked “Do I really need a business plan even if I don’t need a bank loan?” My response is sometimes“Yes” and some other times “No” One thing is for certain, it is not the destination that is important when it comes to writing a business plan, but the journey you take in writing
Do You Need a Business Plan? Read More »
