If you want people to invest in your idea, then my best advice is first write a business plan, and keep it simple. Don’t confuse your business plan with a doctoral thesis or the back of a napkin. Keep the wording and formatting straightforward, and keep the plan short. For minimum content, see my original […]
Business Plan
3 Business Plan Critical Factors
What matters most for a business plan? When somebody asked on Quora what are the critical factors of a business plan, I came up with these three business plan critical factors: Does it achieve its business goal? Form follows function; does it achieve its business goal? Measure a business plan by its results, and nothing else. You […]
Quick Stay-at-Home Guide to Starting a Small Business
Many parents are opting to stay at home while the kids are growing up. Some are supplementing their family’s income by working from home, often launching a new business enterprise there. Here’s a quick stay-at-home guide for starting your own small business. Decide on Your Business Structure Most in-home businesses begin as sole proprietorships. This […]
How to Create a Proper Business Plan
It’s a fantastic time to start a new business, which has led a myriad of entrepreneurs in the direction of starting their own companies and non-profits in the pursuit of success in the marketplace. Many newcomers to the business scene are struggling with one of the earliest steps of creating a business, however, namely the […]
The Ultimate Guide to Starting Your Own Small Business
Starting your own small business can be exciting to think about when you are ready to take your career to the next level. Many people have the entrepreneurial spirit and are ready to launch their own small business. The more information you have about starting your business, the best chance it has for survival. Although […]
What Two Words Are Most Valuable for Your Business Planning?
One of the most valuable tools in an executive’s arsenal is the use of the question chain in planning meetings or to analyze scenarios that might result from an action. The powerful words are “What if…” followed by an ever-deeper question that follows the possible results of an action, or a decision based upon the […]
5 Things You Should Know When Starting a Business
Starting a business is not for everyone; in fact, some work a lifetime for a company and still live a happy life, while others have the mindset and skills they need in order to start their own business. If you are one of the many people who carries an entrepreneurial spirit and passion to run […]
6 Strategies to Build Traction and Validate Your Plan
As an advisor to many new venture founders, I often hear their frustration at being told by investors “I love your idea, but come back when you have more traction.” As a member of an angel investment group, I have to admit this is probably the most common rejection we issue. The intent is to […]
10 Business Plan Myths That Hurt Your Business
The need for good business planning is as strong as ever, and the potential benefits are as important as ever. Every business owner ought to have a business plan. But the best strategies for business planning are different than they used to be. And these 10 pervasive business plan myths get in the way, much […]
Business Plan Events and Why They Matter
(Note: I posted this earlier this week on the SBA Industry Word blog. It’s reposted here for your convenience.) What do you think of when you hear the phrase “business plan?” Does that bring to mind a formal document that starts with a summary and includes modules describing your business’s products, market, strategy, team, and essential […]
