No business can expect to be successful unless the founders and managers understand the relevant markets and develop a strategy for reaching potential users and educating them about the value of the company's products or services. Presumably, serious consideration of a new business would not...
Business planning begins with information. As noted above, one important part of the strategic value of the business planning process, and the formal written business plan that emerges from that process, is the knowledge that the founders and the other senior managers acquire while they...
A “budget” has been defined as a plan for the coordination of resources and expenditures covering a definite period of time. While a budget can be created for the management of non-financial resources, such as manpower, the term is typically used in connection with the...
The traditional “business plan”, which generally ran anywhere from 40 to 60 pages, has been criticized as a waste of time and effort when trying to raise capital from investors. Many have argued for an emphasis on describing the steps taken to identify and execute...
The traditional “business plan”, which generally ran anywhere from 40 to 60 pages, has been criticized as a waste of time and effort when trying to raise capital from investors. Many have argued for an emphasis on describing the steps taken to identify and execute...
Many startup pundits, including Steve Blank, the champion of the “customer development” and “lean startup” methods, have criticized reliance on the traditional practice of creating a business plan, and it’s true that many founders get hung up on trying to figure out what to do...