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It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs sales personnel, suppliers, and others about your operations and goals. What is Your MSP? For many consumers and producers, MSP is an acronym for Manufacturer's Suggested Price. Today, I would like you to consider a different definition for these commonly used letters ?Marketing, Sales and Profitability. Ten Steps To A Great Strategic Plan Ask a small business owner about their strategic plan and they'll either laugh or get that stricken look in their eyes. Yet it's well documented that businesses with a strategic plan are more successful. No matter what size business, from solo practitioner to hundreds of employees, a thoughtful strategic plan will help you achieve your dreams. Memo: Sustaining Growth in Your Business What gets measured gets done. Three Steps to Give Your Strategic Plan Traction We all agree Strategic Planning is a critical part of a company's success. All too often, however, strategic plans stall before they ever make it to execution - or they gradually lose momentum. The organization is then left in a vulnerable and uncomfortable position of continuing to go about its business with good intentions but no focused direction or aligned action. Move intention into action using this three step remedy. Business Results - Four Critical Success Factors Scenario One How to Snuff Out the Competition Without Leaving a Mark Does the competition drive you crazy? Corporate Venturing For Emerging Growth Companies The boom of the dot-com era in 1999 brought the emergence ofcorporate venture capital as a major source of funding to theprivate equity markets. Corporate venture investments peakedin the third quarter of 2000 with 608 deals totaling a combined$4.9 billion. A few of the top corporate venture capital investors of 2000 included Nokia Corporate ($500 million), Oracle Corporation ($400 million), Intel Corporation ($300 million), Sun Microsystems, Inc. ($300 million) and Daimler Chrysler ($100 million). Be Like Bill - Think! Twice a year, Bill Gates goes to a remote island hide-a-way for a week at a time. No, he's not going for a fishing vacation; instead of rods, reels, and lures he takes market analyses, position reports, engineering reports, and opportunity papers. In solitude he reads and thinks and reads some more, writing notes in the margins then composing questions, thoughts, and his own positions that will impact the future of Microsoft and the entire technology industry for years to come. Titanic Precautions Many movies have been made about the tragic story of the Titanic. Arrogance and ignorance was definitely present during its maiden voyage, which was Titanic's last voyage. Why Create an Annual Plan? Can you imagine going on a road trip without knowing your destination? Or, building your house without plans? The same can be said about running your business without a plan. How Good Is a Business Plan To Your Business? You know you need a business plan. You probably realize that it is one of the best ways to get your business up and running. No matter what your business is, a business plan can help to focus its direction while providing the information you need to get moving. The most important thing a business plan will do is to provide your financial backers with a reason to give you their approval. It will show them how you plan to work your business. Business Plan Long Term Goals Writing a business plan is not an easy endeavor, nor is predicting the future. You will need to spent adequate time in preparing your long-term goals and objectives. This will help you understand what you are doing and where you wish to be. Martin Luther King in is most famous speech said; "I have a dream" which is noble indeed, but had he had a "Strategic Plan" with quarterly objectives he may have seen that dream come true in his lifetime. Regroup - How To Do It And Why It Works Regroup?is this a new management trend? Not a chance! Regroup is simply an opportunity to end one month's business cycle, recap the performance of your company and outline a plan of success for the new upcoming month. Why does it work? Because it allows each person on your team to assess their performance from the previous month, and make any necessary adjustments for the new month. Here's how it works: Five Crucial Components of a Business Plan The format of a Business Plan is something that has been developed and refined over the years and is something that should not be changed. Like a good recipe, a business plan needs to include certain ingredients to make it work. Own Your Niche by Building a Niche Community In 1997, David Steele was making the transition from a professional therapist to relationship coach. Part of his strategy was to become a center of influence and THE Relationship Coach for his community. Business Process Methodologies I've either been involved with or held a process-related role since 1994. It started in the government with TQM (Total Quality Management). Then before I left the government, I worked with ERWin and some process standard model -- I've forgotten its official name. We had pages and pages of flows that were not easy to follow. Could You Be Setting Your Business Plan Up For Failure? David E. Gumpert, author of Burn Your Business Plan, often tells the story about how he and his partner failed to raise money after sending their business plan around to venture capitalists and meeting with several others to make presentations. Disappointed by the fruits of their labor, they considered giving up on their venture in 1995. Fortunately, on the advice of their board of advisors, they chose to divert their time from massaging the business plan to making sales. The financing, they were told, would come later. |
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