Monthly Archives: May 2013

#134 Define your business model

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The previous post talked about limiting space as a way to sharpen your focus as you develop your elevator pitch.  Once you have a sharp and focused story for your startup (remember, you don’t have to actually start a business to think like a startup), you need a more comprehensive plan. Enter the Business Model Toolbox.

You can get the book, or you can get the iPad app.

Don’t expect the book or the app to work miracles, if you are not a clear thinker, or if you have an aversion to thinking ahead and designing a solution, these may be of limited use. I’ve seen co-workers rush into a solution more than think thru and develop a design before implementation. Those who think and plan ahead are a joy to work with. Those who rush to a solution are a real pain to work with. I’ve rushed into solutions too, under pressure to put points on the board, or to display a bias for action.

When I am clueless, “thinking” is actually “learning.” I’m trying to figure out the problem, the domain it belongs to, I struggle with risk analysis and interdependencies. In such cases, I will come across as a clumsy amateur in my thinking/planning. If I have solved a similar problem before, and have a handle on the domain, thinking and planning is a joyful experience. I can save time, money, and aggravation, and also delight others when offering a solution.

Conclusion: before you jump into thinking and designing, establish how much you know about the problem and its domain. If there are gaps, fix those gaps via education. Or outsource/delegate the problem definition. Don’t try to cover up your ignorance under the garb of thinking/planning.

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#133 When does “strategy execution” begin?

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Strategy execution beings when you have an idea for a business. The first execution step is to create a business plan/model.

What is the best way to create a business plan/model? Don’t give yourself a lot of space to write it down! Check out this app for business plan creation. It is simple, elegant, and most important, FREE! Actually, I think the most important feature is that it works. I took it for a spin, and was completely taken aback by how focused my thinking became (and it needed to be) when faced with a really small real estate to express my ideas.

Startups are not the only ones who have a need to create a business model/plan. From time to time, we need to look for ways to increase revenue, or market share, or customer satisfaction. Treat some ideas (not ALL ideas) as startups and take them thru this app as a first step to accelerate execution.

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