Not every would-be entrepreneur has deep pockets, or rich friends and family, to get their business started. Indeed, most small businesses are started on the cheap. Here are some tips on how to start your venture with minimal cash.
[ Read More → ]Let’s face it; it’s no fun when someone complains. Some people, the saying goes, just like to complain. Best to give them what they want and send them away, right? Not really. Complaints can provide such valuable market feedback that you’ll want to include strategies in your business plan for dealing with them. Most of [...]
[ Read More → ]There’s been a fair amount of interest lately in how to write your business plan quickly, say in a weekend. The most well-known is called Startup Weekend, which promises to turn strangers into teams with a completed business plan in an intensive 54-hour weekend marathon. Is this a good idea? There’s also a new book, [...]
[ Read More → ]US Bureau of Labor Statistics research indicates that almost 60% of businesses shut down within the first four years of operation. Why? Most fail for one of these reasons.
[ Read More → ]You might find this surprising, but last week a bi-partisan US House passed a bill that actually had some substance to it. One that could actually help entrepreneurs and small business owners.
[ Read More → ]In a previous blog, I described “value chain” analysis, which is an analytical technique designed by Michael Porter to evaluate the sequence of business activities to improve profitability. Those five areas are: inbound logistics, operations, outbound logistics, marketing & sales, and service. That leads to a review of cost advantages and areas of differentiation for [...]
[ Read More → ]There are now many choices in legal structure for a new business. That’s both a good thing and bad thing. It’s great to have options, but sometimes the details can become overwhelming. For a business with a social as well as financial purpose, there are different ways to set things up, depending on your motivations, [...]
[ Read More → ]Social media has not been around that long; Facebook is barely seven years old, for example. But in today’s business and social environment, for many companies that sell directly to the public, having a social media strategy is no longer an option. You gotta have one.
[ Read More → ]Ultimately, success in business depends on finding your competitive advantage, which is to say that which makes you superior to your competitors and is perceived as valuable by your customers. One approach for figuring that out is through value chain analysis, as developed by Michael Porter. The value chain is a sequence of activities that [...]
[ Read More → ]My previous blog identified the five competitive forces developed by Harvard professor Michael Porter, which should be addressed in every business plan. This blog profiles each of these forces.
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Rolfe Larson provides consulting and training in areas such as strategic planning, market research, feasibility analysis, business planning, marketing, and implementation strategies.Provided by
