I want to confess: I have a secret. One of the things I do in my spare time is peruse Craigs List for enjoyment. You can see humanity at its most vulnerable. It really is a entertaining to read. Craigslist is also a great place to start your entrepreneurial journey. You can pick up odd… Continue reading How To Be an Entrepreneur: Seek out Opportunity
Do You Really Love Your Business? One of the things I never learnt in school was how to be a psychologist. Over the years, I took psychology courses, but with a graduate and a professional designation, neither of which are in psychology, I am very ill equipped to deal with psychological issues or offer any… Continue reading Do You Love What You Do?
I cannot tell you how many times, I have heard of newcomers turned down for loans simply because they could not produce a business plan. In our lending systems, as covered in a past blog, it is customary to ask for a business plan. In many cases, lenders will not even look at your business… Continue reading Business Plans for Newcomers – Part 1
The last couple of entries have focused on stories of entrepreneurs who have either not cared about customers or who believed that the entire world was a prospective client base. While these strategies may work for some entrepreneurs, generally speaking, we need to have some understanding of the size of the market and what we… Continue reading Demographics for Small Business: market segmentation and counting customers
Ways to Kill an Idea – #4. It is too expensive Here is part 4 on my blog series of how to kill an idea. I’ll quickly recap three ideas from a recent conference that motivated me to write these posts: 1. Fail fast, fail forward. 2. Do not be afraid to think big. 3.… Continue reading #waystokillanidea – It is too expensive.
As part of my continuing series on markets and customers, I would like to tell you about another entrepreneur who was determined to change his customer. Unlike Bob from the last blog who was content to live with his books, this entrepreneur, Luis, has been fighting to convince customers that he was right and they… Continue reading The Customer is always right….Except when he isn’t…
I promised in the last blog post to guide you through the demographic research component of your business plan. Before we get into it, just understand that knowing demographics is really nothing more than thinking about your customers and every business must have customers. The Story of Sylvan’s Foremost Bookstore I would like to tell… Continue reading Demographics Part II: The Battle Between the Customer and the Entrepreneur
The term for some of you may conjure up images of university classrooms and painful modelling excercises. For others, the term might imply some kind if research to do with population, but most certainly nothing to do with your business plan. What if I told you that demographics should form the basis of your ENTIRE… Continue reading Demographics and Your Business Plan
So Who needs a business plan? These days, if you are seeking financing of any form, you probably require one. Do you need a business plan to ensure the success of your business? I would say no. Don’t get me wrong, business planning can be a very valuable exercise. For some personality types (you know… Continue reading Part III: So Who Needs a Business Plan?
Ways to Kill an Idea – #2. We Have No Time. As I wrote previously, at a conference I hosted, we focused on 3 key ideas: 1. Fail fast, fail forward. 2. Do not be afraid to think big. 3. Do not say no. We are too often quick to say no, even when it… Continue reading #waystokillanidea – We Have No Time.