By Rolfe Larson on May 1, 2014
There is often a great deal of confusion about the difference between business plans and strategic plans. And, frankly, they are similar in many ways, and since each plan has to be tailored to the organization it is prepared for, one can easily blur into the other. In both cases, you begin with internal and […]
By Rolfe Larson on January 11, 2012
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.
By Rolfe Larson on March 16, 2011
There’s nothing magical about business planning. At its core, it involves thinking through who your target customers are, how your proposed venture will profitably address their needs better than the competition, how you will communicate with these customers, and where you plan to get the funds to start it all up.
By Rolfe Larson on February 2, 2011
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 […]
By Rolfe Larson on October 12, 2010
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 […]
By Rolfe Larson on May 2, 2010
Business plans tend to be mostly head, and mostly left brain at that. They describe a business idea for making and selling stuff, and good ones present strong reasons and compelling data. That’s important, and trumps so many plans that offer little more than grandiose assertions and generic arguments. But the heart of any business […]
By Rolfe Larson on April 15, 2010
For this blog, I’m simply going to quote from an excellent comment recently posted to my social enterprise blog Risky Business by Jeffrey Wallk: “Clear articulation of value. This is not the value proposition (here’s what we do / offer). This explains in very simple terms exactly how your product / service will help someone […]
By Rolfe Larson on April 13, 2010
Every business plan has them, and they belong in the fiction section of the library. Like romance novels, you can usually see what’s coming: we’ll lose some money in the first year, approach break even in the second year, and then (gasp) become profitable in year three. And the business lives happily ever after, achieving […]
By Rolfe Larson on April 9, 2010
Is your great idea actually a great idea? Feasibility testing is how you find out. Start with your goals. Sure, everybody wants to make a million dollars. But how will you define success? Finish this sentence: I will consider this business successful if after three years, at a minimum, it ______. List just two or […]
By Rolfe Larson on April 5, 2010
I know, you’ve got a great business idea. Everybody says it’s a winner, even your business friends. It’s amazing no one else has thought of it before. You’re feeling you should jump on it right away before someone else gets there first. But you realize you need to do some research before taking the plunge, […]
Rolfe Larson provides consulting and training in areas such as strategic planning, market research, feasibility analysis, business planning, marketing, and implementation strategies.