After doing the research from the first blog assignment, I
have a better understanding of what investors are looking for, and how I can
incorporate those lessons into my own personal business plan. Business mogul Carlos
Slim talked about keeping a company lean, without complicated structures
and hierarchy. I decided to adhere to this advice by keeping my company small
at the top. My business background has always involved me wearing many hats in
an organization. I think starting small but thinking big is the key formula to
success. People get too caught up in titles, power and authority. If you are
truly committed to changing the World, being VP of whatever doesn’t really
matter as much.
Slim also talks about creating a culture of “Corporate
Creativity.” This means making an impact on society as well as the company. I
feel the best companies understand that a company is made up of non-business
factors. Employees are people first. Taking care of their needs personally,
yield greater results for the company. I
have incorporated this mindset into my business plan by creating a space of
absolute creativity, positivity and empowerment. The GMAS office is fully
equipped with a gym for yoga, meditation and exercise; a gaming station and
lodging quarters. Meeting rooms are also called “Think Tanks”, equipped with
whiteboard space for creative sessions. All employees are covered with 100%
health insurance. We also have 2 non-workdays per month, where we do absolutely
no work, rather talk and listen to each other on a personal level.
Chuck
Blakeman is a businessman who believes that the word employee should be
buried. He talks about a movement of the participation age, where people work
together in a company with no titles, rules or structure. They are all invested
in the business because they want to be there. I decided to incorporate this
type of thinking into the company structure. Even though my company still uses
titles minimally, each team member is personally invested into the company. We
look for people who believe in seeing the company grow as they grow personally.
This creates a sense on belonging to something bigger than you.
Blakeman also does not believe in creating business plans.
He feels that time and energy should be used to create the actual business.
Business plans are used to predict the future, which cannot be foretold. His
strategy is to implement now, and correct course along the way. I have employed this strategy in my business
as well by not waiting until the business plan is complete to start focusing on
my projects and products for the business. I employ more of an implement and go
mindset myself, however I do understand the need for a plan if you are looking
for investor backing.
The most important section of any business plan is the
financial analysis. Investors will not invest in a company; no matter how much
they like the concept, if the numbers don’t work. This leads me to say that
much time can be saved if you look at the product or service first, and figure
out if there is a way to make a profit. Then find out at what scale can you
operate to keep overhead low and make a profit on each unit. This is what
investors want to see. After that, they will be looking for all of the pieces to
be aligned.
Source: http://chuckblakeman.com/2012/8/texts/how-the-worst-most-asked-planning-question
Source: http://whyemployeesarealwaysabadidea.com/?referrer=CHUCKBLOG
What do you think the most important part of a business plan
is?
No comments:
Post a Comment