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Since the term “cloud computing” was coined in 1996—at least as we have come to understand its meaning—the software as a service industry has exploded. If you use software like LivePlan, you can create this initial “lean plan” in under an hour and then spend your time where it really matters—on validating your idea.
According to the SBA, 52% of all small businesses are home-based and of the 28 million small businesses in the US, 22 million of those are operated by people who consider themselves self-employed (they have no employees and no additional payroll). You can write your business plan in a simple word document or using software like LivePlan.
The first article that we wanted to talk about is one written by the founder of Palo Alto Software, Tim Berry. I think that’s the starting point for most businesses is that things like the bank lending space, the what is the SBA and how are they here to help me? Your accounting software, you’re entering those numbers.
Diligence, or the ability to get a job done. Because you’ll be entering an already-saturated market, you will need to figure out a way to differentiate your service offerings. At Palo Alto Software, we use a lean planning process to determine whether or not an idea is likely to succeed or to fail. An eye for detail.
How do they currently meet your target market’s needs, and how will you differentiate your product or services? You can find a full list of the forms for each type of entity on the SBA website. The SBA’s database lets you search for licensing requirements by state and business type. Competitive analysis.
You’ve paid your dues. It will be much easier to differentiate yourself from all of those other generalized consultants if you specialize. Helping clients with software and/or hardware issues. A sole proprietorship is the “most basic type of business to establish” according to the SBA (Small Business Administration).
How do your natural strengths differentiate you from the other real estate businesses in the area? How do they currently meet your target market’s needs, and how will you differentiate your product or services? You can find a full list of the forms for each type of entity on the SBA website. Consider the following questions.
We recently had Tim Berry, Palo Alto Software founder and business planning expert, present our Bplans audience with his latest advice on lean business planning. What taglines are you using to differentiate yourself from other people, other businesses that might be similar. I’m the CEO of Palo Alto Software.
When an acquirer looks at your company, if your gross margin is dropping consistently year over year, they’re going to draw the conclusion that you’ve lost your marketing differentiation. And they typically, in the United States at least, get an SBA Loan, Small Business Administration Loan. So it’s important.
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