Blog Archives

The Dribbling Metaphor for Business Planning

Think of basketball or soccer. In both of these popular sports, dribbling is what the players do to move the ball in the right direction. It’s not the point of the game, it doesn’t score baskets or goals, but it’s an important skill, right? I think of dribbling as a great analogy for business planning. […]

Posted in Business Rocket, Executive Prospectus Tagged with: , , ,

10 Reasons Why You Should Write A Business Plan

write business planBusiness plans are dead — or are they? For many entrepreneurs, the business plan is an outmoded document that gets created mainly for the benefit of VCs and bank loan officers. Bootstrappers rarely think they need one to get by.

But the fact is that a business plan — even just a one-pager with a few financial projections — can be a valuable internal¬†tool. ¬†A roadmap for even the smallest or earliest-stage idea. It can foster alignment, set the Read More

The post 10 Reasons Why You Should Write A Business Plan appeared first on Small Business Trends.

Posted in Business Rocket, Executive Prospectus Tagged with: , , , ,

Pop Quiz: Do You Know How to Start a Business Plan?

People often ask me how to start a business plan. Sometimes I’ll say it depends on you, your preference, and your style, so some people do a sales forecast first, some do a vision statement. But the right answer is that you start by scheduling your monthly review and revise meeting. That’s by far the […]

Posted in Business Rocket, Executive Prospectus Tagged with: , , , , ,

The Best Business Success Factor is Value

Keys to entrepreneurial success? We talk about passion, persistence, ideas, funding, planning, sales, product-market fit, and all of that. Do what you love, we say. My opinion changes according to recent events, experience, even mood. Which is fine, because it’s a reaction to events, and we don’t want to get static. But on the long […]

Posted in Business Rocket, Executive Prospectus Tagged with: , , , , , , , , ,

Understand the Critical Difference Between Ideas and Opportunities

Ideas are a dime a dozen. Opportunities are much more important. An opportunity is an idea that’s passed the test of planning. It has potential. You can implement it. An opportunity has some of the following elements: Industry and market potential: look at market structure, industry structure, growth rate, margins, costs, etc. Economics: capital requirements, […]

Posted in Business Rocket, Executive Prospectus Tagged with: , , , , , , , ,