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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.[Read more ...]
business plan
Structure Your Business Plan
Business plans appear in many different formats, depending on the audience for the plan and complexity of the business. However, most business plans address the following five topic areas in one form or another.
Competitive Analysis
Since every business has competitors, every business plan needs competitive analysis – also known as competitive intelligence. Direct competitors provide more or less similar products or services, such as coffee shops. Indirect or generic competitors provide different things, but customers will often choose between them. For example, nearby restaurants may offer different eating options, but compete [...]
Breakeven Analysis
One of the common challenges in business planning is that one often has a better handle on predicting expenses than revenues. It doesn’t mean you’re 100% sure about what your costs are going to be, but for many folks, when they start looking at sales, it’s a crap shoot. As a result, many business plans [...]
Seed Money From Crowdsourcing?
In the old days, people raised money for their start up ventures in traditional ways. They put in their own money and sweat equity. They borrowed against home equity, insurance policies, and credit cards. If they were lucky, they also got money from friends, family, even “angel” investors. They collected gifts, loans, forgivable loans (“pay [...]
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 [...]
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 [...]
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, [...]
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 [...]
