Meet the Blog’s Host
Rolfe Larson provides consulting and training in areas such as strategic planning, market research, feasibility analysis, business planning, marketing, and implementation strategies.[Read more ...]
2010
You are browsing the archive for 2010.
Business Plan Competitions
One way to develop and test your plan is to submit it to a business plan competition. These competitions are mostly associated with business schools. Most offer winners consulting assistance and in many cases seed money. But here’s the catch: in most cases, only students can apply and competition can be stiff. But check out [...]
Halloween Special: Five Business Plan Tricks
Here are five tricks from business planning expert Tim Berry. Excellent advice to follow to avoid getting spooked by your business: 1. Keep the planning simple and practical. Your plan should be measurable, and include strategy, dates, deadlines, metrics, and basic projections, plus a review schedule. This is critical: when will we review and revise? [...]
Ten Common Startup Mistakes
To err is human. To do the same thing repeatedly and expect different results is insanity. And to learn from the mistakes of others is a good way to improve your odds. Here are ten major mistakes, inspired by a recent Wall Street Journal article (link below): 1. Going it Alone. Forget the solo entrepreneur [...]
Incentive-based Compensation
Many startup businesses set up incentive or commission-based compensation systems for their initial employees. This is often done because they can’t afford to pay staff what they’re worth. As an enticement they offer the opportunity to earn much more than a smallish base salary if these early staff achieve great success. This is common in [...]
5 Page Business Plan: Wave of the Future?
Lately I’ve been rethinking business plans. On the one hand, in the consulting and academic world, what is meant by a business plan is a fairly comprehensive research project with thorough analysis of issues including customers, markets, competitors, pricing, marketing strategies, risks – always followed with detailed multi-paged financial projections looking three to five years [...]
Plan Your Work, Then Work Your Plan
Every business should do at least SOME business planning before starting or expanding operations. Whether that’s the two page version with targets, the five page variant with some analysis (more on that next week), or the 37 page detailed masterpiece, every business needs to do some of this. There are two basic steps to business [...]
Case Against Business Planning
One of the hallmarks of good business planning is being open to disconfirming information. Now let’s apply that principle to the decision on whether to do business planning itself. We think it’s a good idea, but maybe we’re wrong. Maybe it’s OK to do what most business owners do all the time: just wing it, [...]
Make a Business Plan and Reduce Chances of Incurring Debt
Guest post from Ryan of Debt Consolidation Care Community It is imperative to make an effective business plan when you start a business. A good business plan helps to reduce your chances of incurring business debt. Lots of people don’t give much thought about creating a good business plan and make costly mistakes. They incur [...]
Business Planning Doesn't End with Your Plan: Part 2 of 2
Rolfe Larson is on vacation. This blog was written by guest writer Jan Cohen. Regardless of how thorough your business plan is, the start-up period always brings surprises. This is the second of a two part series on lessons learned, based on experiences working with many business ventures. 3. The product or service won’t be [...]
Business Planning Doesn't End With Your Plan: Part 1 of 2
Rolfe Larson is on vacation. This blog was written by guest writer Jan Cohen. When you start a new business, whether for profit venture or social enterprise within a nonprofit, you’ve spent a lot of time and effort on the business planning process. And now you are ready to “execute”. The start-up period always has [...]
