Looking to write your own business plan? While it can be difficult knowing where to start and determining what’s essential, the operations component is generally a good jumping off point, according to Entrepreneur magazine. Experts point to this initial exercise due to the linkage between the operation plan and every other part of the overall […]
When you are buried in the day-to-day operations of running your business, it’s easy to get tunnel vision. Your nose is to the grindstone everyday just getting it done. Such a limited perspective is one of the biggest reasons business owners fail to seize growth opportunities. Myopic vision limits your ability to think about the […]
There’s a proverb in the Bible that says, “Where there is no vision, the people perish.” It’s a truth that applies to virtually every aspect of life. While we might not physically “perish,” I think we all have suffered through seasons where a lack of vision brings a sense of uselessness and negativity. A powerful […]
As my readers know, twice a year I judge the Connecticut Business Plan Competition, where students from business schools and undergraduate business programs throughout Connecticut compete for cash prizes and mentoring from leading business experts, in a format very similar to the popular “SharkTank” television show. This spring’s event featured 13 teams from throughout the […]
In any given year I look at hundreds of business plans from entrepreneurs and business school students across the country. While the businesses are “all over the place,” ranging from basic retail and service businesses to advanced technology concepts bordering on science fiction, the authors of these plans keep making the same mistakes over and […]