Up and Running

MAY 30, 2022

One of the most important things you can do to increase your chances of success is to have a business plan. From attracting potential investors to keeping your business on track—a business plan helps you to achieve important milestones and grow in the right direction. And it’s not just for startups.

Business Plan 150

Business Plan Balance Sheet Revenue Metrics 150

Up and Running

SEPTEMBER 15, 2016

Most people think of the business plan as a one-time event, something used to accomplish a specific goal—getting funded, usually. The business plan, in its many different formats, can be used for a variety of purposes, including validating an idea, getting funded, and managing a business successfully.

Business Plan 60

Business Plan Lean Forecast Balance Sheet 60

Startup Professionals Musings

SEPTEMBER 22, 2022

Great marketing is required to generate revenue and grow every business, especially new businesses which have no brand recognition nor loyal customer base. Yet, as a business consultant, I still find many of you business leaders relying primarily on your technology, word-of-mouth , or location to attract necessary customers.

Marketing 333

Marketing Revenue Matching Viral 333

Startup Professionals Musings

AUGUST 13, 2012

People ask me if they really need ANY business plan, unless they are looking for an outside investor. In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Explain the business model. Marketing, sales, and partners.

Business Plan 283

Business Plan Sweat Equity Exit Strategy Intellectual Property 283

Up and Running

SEPTEMBER 29, 2022

Just be sure that you have a backup plan if your business idea fails to gain traction. This could be something simple like being prepared to seek out short-term employment or reexamining your business structure and trying again. Prepare a business plan. Recommended Reading: How to Write a Business Plan in 7 Steps.

Forecast 154

Forecast Software Review Bootstrapping Finance 154

Startup Professionals Musings

MAY 13, 2011

People ask me if they really need ANY business plan, unless they are looking for an outside investor. In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Explain the business model. Marketing, sales, and partners.

Business Plan 290

Business Plan Sweat Equity Exit Strategy Intellectual Property 290

Startup Professionals Musings

AUGUST 25, 2023

Do a written business plan to validate your thinking. Even if your plan seems simple and intuitively obvious to you, writing it down and having it reviewed by experienced friends will moderate your passion and assure you that all key elements are addressed. Network extensively for partners, investors, and suppliers.

Intellectual Property 245

Intellectual Property Social Media Angel Investor Metrics 245

YoungUpstarts

NOVEMBER 20, 2019

by Lu Zhang, founder and managing partner of Fusion Fund. Competition from other startups and established incumbents, constraints on time and capital, and limited access to talent and technology resources are just a few of the hurdles nearly every first-time founder faces while trying to build a business. Be ready when it counts.

Technical Review 140

Technical Review Due Diligence Early Stage Differentiation 140

Startup Professionals Musings

MAY 4, 2016

He nails the current key startup parameters, including the following: Crafting a lean business plan as your road map. The days of lengthy, text-heavy, business plan documents prepared by expensive experts are behind us. Incorporating a business entity early through online services.

Intellectual Property 120

Intellectual Property Startup Angel Groups Social Media 120

Startup Professionals Musings

NOVEMBER 14, 2012

What I’m talking about here is a level of discipline and skill necessary to collect and analyze the relevant business data, known as metrics. Here is my selection of ten key metrics that every six-sigma joint like GE tracks without thinking, but too many small businesses only monitor haphazardly, if at all: Sales revenue.

Metrics 266

Metrics Retention Acquisition Salary 266

Up and Running

FEBRUARY 12, 2022

Learn why the traditional way of writing a five-year business plan is often a waste of time and how to use a Lean Plan instead for smarter, easier strategic planning to establish your long-term vision. But, that doesn’t mean that you shouldn’t plan for the long term. What is a long-term plan?

Business Plan 83

Business Plan Lean Forecast Exit Strategy 83

Gust

AUGUST 5, 2012

People ask me if they really need ANY business plan, unless they are looking for an outside investor. In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Explain the business model. Marketing, sales, and partners.

Business Plan 182

Business Plan Sweat Equity Exit Strategy Intellectual Property 182

Startup Professionals Musings

APRIL 22, 2010

People ask me if they really need ANY business plan, unless they are looking for an outside investor. In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Explain the business model. Marketing, sales, and partners.

Business Plan 186

Business Plan Exit Strategy Sweat Equity Intellectual Property 186

YoungUpstarts

AUGUST 24, 2015

3 One-page business plan. Develop a one-page business plan. This should include what you will sell, who your customers will be, how much you will charge, how you’ll market your business, what determines success, and how objections will be managed. This spanned the following areas: #1 Generate Higher Revenue.

Technical Review 100

Technical Review Software Review South Carolina Startup 100

Up and Running

MAY 1, 2014

You’ve reviewed what a business plan is , and why you need one to start and grow your business. It’s time to dig into the process of actually writing a business plan. In this step-by-step guide, I’ll take you through every stage of writing a business plan that will actually help you achieve your goals.

Business Plan 163

Business Plan Forecast Balance Sheet Distribution 163

Startup Professionals Musings

MARCH 2, 2020

Then, he'll need to patent it and create a plan to show opportunity, competition, and financial projections. In addition, creating a business requires leading and interacting with other people, including partners, investors, and customers. Create a written plan, with target milestones and metrics.

Elevator Pitch 315

Elevator Pitch Cofounder Dividend Leadership 315

Hearpreneur

JANUARY 4, 2019

Often entrepreneurs and business owners create their New Year’s Resolutions around their business. It could be more revenue, hiring clients or launching a new product or service, but every new year is an exciting time because it’s ripe with opportunity. 4- Partner and create books. Have potential partners reach out to us.

Entrepreneur 131

Entrepreneur Social Media Vertical SEO 131

YoungUpstarts

SEPTEMBER 10, 2018

More research and explanation is needed to understand how the business plan will be executed. More metrics need to be identified such as product testing, market validation, and/or customer validation in order to show that a market opportunity exists. Reasons for rejection analyzed + tips. Congratulations, you made it!

Programming 124

Programming Chile B2B B2C 124

Up and Running

NOVEMBER 12, 2018

The subscription box industry is growing rapidly thanks to a steady revenue model and tapping into people’s love for surprises. But with so many people trying to get their share of the growth, many subscription box businesses fold within a year or two. There are several different types of business plans that can help you stay on track.

Business Plan 63

Business Plan Curation Balance Sheet Intellectual Property 63

Up and Running

AUGUST 21, 2014

In this webinar, we take time to discuss the different metrics that startups—and established businesses—should be tracking. You need to track pre-purchase, post-purchase, and then overall business analytics. In terms of pre-purchase, traffic and content metrics. Peter, anybody have any questions as I go along?

Metrics 84

Metrics Startup Churn Rate Forecast 84

ConversionXL

AUGUST 11, 2021

Next, look at any companies or suppliers you already partner with. This is basically a business plan—and snapshot of the benefits of your property [assets]. Unless you’re already connected to a prospect via LinkedIn, or a supplier or partner, chances are you’re going to need to cold email prospects. Source ).

Audience 139

Audience Social Media Email Ruby 139

Steve Blank

DECEMBER 7, 2010

Many entrepreneurship courses focus on teaching students “how to write a business plan.” are what make it a business, 2) business plans are fine for large companies where there is an existing market, existing product and existing customers. This class is not about how to write a business plan.

Wiki 319

Wiki Lean Management Business Model 319

Steve Blank

JANUARY 25, 2010

A business model describes how your company creates, delivers and captures value. Or in English: A business model describes how your company makes money. (Or Or depending on your metrics for success, get users, grow traffic, etc.). Drawing A Business Model. Who are our partners? Business Plan Versus Business Model.

Agile 335

Agile Startup Silicon Valley Business Model 335

www.forentrepreneurs.com

FEBRUARY 2, 2010

Business model viability, in the majority of startups, will come down to balancing two variables: Cost to Acquire Customers (CAC) The ability to monetize those customers, or LTV (which stands for Lifetime Value of a Customer) Successful web businesses have long understood these metrics as they have such an easy way to measure them.

Acquisition 103

Acquisition Cost Customer Entrepreneur 103

Steve Blank

MARCH 11, 2015

And worse, even if someone does manage to start something new, our management structure has so many financial, legal and HR hurdles that every initiative needs to match our existing business financial metrics, processes and procedures. They’ve figured out the revenue model (subscription, license, direct sale, etc.)

Widget 120

Widget Lean Business Model Metrics 120

Berkonomics

NOVEMBER 27, 2020

The ‘punch in the face’ is analogous to dealing with the business plan when it intersects with the realities of the market. I can’t recall any of my companies hanging onto its original plan after some level of market feedback. Punched in the face” meaning our plan’s intersection with market reality.

Forecast 62

Forecast Distribution Metrics Revenue 62

YoungUpstarts

JUNE 16, 2020

Business valuation is defined as a way to determine the overall economic value of a company , and is a necessary component of a sound business plan and strategy. An Earnings Based approach to valuation is predicated on the concept that a business is only as valuable as its potential to produce value in the future.

Valuation 162

Valuation CPA Software Review Revenue 162

Steve Blank

MAY 3, 2011

Last week the teams tested their Revenue Models hypotheses: what are customers willing to pay for? This week they were testing their hypotheses about Partners. For example, Apple needed music from their record label partners to make the original iPod and iTunes experience complete. They worked on understanding their partners.

South Dakota 233

South Dakota Business Model Lean United States 233

Up and Running

OCTOBER 3, 2018

What they don’t usually show on screen on shows like Flip or Flop is that writing a business plan is a must. If you’re thinking about starting a business that buys up homes, fixes them up and then re-sells them at a profit, the first step is to write a business plan. It serves as a mini version of your entire plan.

El Paso 61

El Paso Business Plan Technical Review Forecast 61

Cracking the Code

JANUARY 22, 2009

For SaaS companies, we found that MRR is the best metric on which to base sales commissions. While it may make sense to offer very slight adjustments for favorable payment terms and one time revenue, net additions to MRR should dominate the sales rep’s thoughts. How do you clawback revenue from the sales guy? Cindy said.

Software Review 91

Software Review Clawback Sales Salary 91

Up and Running

JULY 22, 2019

Engaging investors early on gives companies greater access to the capital funds they need for hiring key staff, developing new technologies, expanding internationally, and accelerating the business plan. . Attracting investors in the early stages helps bring in new partners that are committed to your business.

Canada 78

Canada Early Stage Valuation Finance 78

Up and Running

JANUARY 23, 2018

Many professionals place emphasis on having a business plan, and this is a good thing. However, if your business is going to be selling tangible goods, a smart sales plan is equally important. What are the best strategies for a working sales plan? Look for strategic partners with the same goal.

Sales 82

Sales Metrics Business Plan Networking 82

Berkonomics

FEBRUARY 20, 2014

The ‘punch in the face’ is analogous to dealing with the business plan when it intersects with the realities of the market. I can’t recall any of my companies hanging onto its original plan after some level of consumer feedback. Tyson’s statement also addresses change. Email readers, continue here.]

Forecast 98

Forecast Distribution Metrics Revenue 98

Steve Blank

JANUARY 10, 2011

The revenue plan had the new product baked into the numbers and it was clear that this division General Manager was going to crater his forecast (happens all the time, nothing new here.) They realized that conditions change so rapidly that the original business plan hypotheses becomes irrelevant.

Forecast 271

Forecast Agile Founder Revenue 271

Steve Blank

AUGUST 18, 2010

It made more sense than our 60 page business plan predicated on a B-school class and a supernatural ability to predict the future. Focus on revenue from day one. It’s the only reliable metric for success. Temptation to focus on growth and worry about revenue later. It’s only a business if you make money.

Customer Development 231

Customer Development Developer Customer California 231

Both Sides of the Table

JULY 17, 2018

One thing that comes with being a venture capitalist is you see hundreds and hundreds of businesses. You get to have interesting conversations with founders and review business plans and then see how these businesses evolve over the years. Some even grow "bad" revenue just to show growth.

Founder 242

Founder Dilution Software Review Later Stage 242

Up and Running

MAY 23, 2016

In fact, SaaS industry revenue is projected to grow from $49 billion in 2015 to $67 billion in 2018, a compound annual growth rate of approximately eight percent. Step 1: Start with a lean plan. Instead of sitting down to write a 40-page business plan, start with a one-page pitch. How to Write a Traditional Business Plan.

Software Review 74

Software Review Software Delaware Forecast 74