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6 Ways Small Businesses Can Survive In A Crazy Economy
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7 Sanity Saving Business Boundaries
The lack of strong boundaries is one of the chief causes of stress, overwork and overwhelm in the business environment. Clearly set boundaries help other people to understand how you want to be treated. They are the rules, if you like, that apply...
Change or Die! To Change Your Organization, Hire a Business Coach
It is a common business axiom – change or die. As a small or mid-sized business owner or a manager, there will be times you will need to make changes in your organization but may not be sure how to go about it.
Change is hard to implement...
Making Your Purpose Your Business, Step#1
Step#1- Discovering Your Purpose
There is no such thing as a “small” job. Each function within our society aids our detailed technical lifestyles and well being. From a store clerk to a business executive, each position is an intricate part...
Starting Your At-Home Voice-Over Business
Thinking of getting into the voiceover business full time, specifically, opening your own in-house voice-over studio? Good for you! It’s a really great way to make a living! OK. You’ve got the dream. Now let’s see what it takes to make it a...
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Answering ?Why You, Why Now? Critical in a Winning Business Plan
Business plans continue to be an essential element of the capital-raising process. They must convince investors to take notice ? investors that are shrewder today due to the ups-and-downs they have experienced over the past few years.
Adding to the financing challenge is the plethora of high-quality companies, both public and private, in which investors can choose to invest. In this environment, more and more investors are asking companies seeking capital the question ?Why You, Why Now??
The question seems simple at first, but has many complexities. The management team must clearly delineate what it is about the business opportunity that makes it such a good investment now. Should this investment have been made a year ago to cement a market leadership position? Or, is the venture before its time - will slow market adoption cause slow sales over the next few years, and as such, should the investment wait. Questions like these, based on investment failures from the past few years, continue to surface and must be addressed by the management team in their business plans.
Likewise the team must address what it is that makes them uniquely qualified to succeed. Does the team have proprietary (and protectable) technology, management talent,
long-term strategic partners and experience that competitors do not? According to Growthink president, Dave Lavinsky, ?Management teams must prove to investors why they are unique and why they will succeed. They can?t just state how wonderful they are - they need to prove it through detailing past successes and unique qualifications.?
A business plan that fails to address the ?Why You, Why Now? question, is most likely a business plan that will remain in the stack of ?not now? business plans. Business plans must present a compelling argument as to why the investor should invest and in our fast-paced world with unbelievable opportunities and opportunity costs, why investors should invest now.
Contact Information
Growthink
1800 Abbot Kinney Blvd., Suite B
Los Angeles, CA 90291
Tel: 877-BIZ-PLAN (877-249-7526)
Fax: 310-943-2693
About the Author
As President of Growthink, Dave Lavinsky has helped the company become one of the premier business plan development firms. Since its inception, Growthink has developed over 200 business plans. Growthink clients have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share.
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