Comments on: When you don’t need a business plan… yet http://www.caycon.com/blog/2010/01/when-you-dont-need-a-business-plan-yet/ The Secret Sauce for Entrepreneurs Mon, 6 Sep 2010 16:37:00 -0400 hourly 1 http://wordpress.org/?v=3.0.1 By: David Kaplan http://www.caycon.com/blog/2010/01/when-you-dont-need-a-business-plan-yet/comment-page-1/#comment-158 David Kaplan Tue, 26 Jan 2010 14:22:09 +0000 http://www.caycon.com/blog/?p=146#comment-158 This situation arises frequently in my practice and this article offers sound advice for directing these idea-stage entrepreneurs towards preliminary investigations. It is worthy of note that clients often resist redirection in this way. They may feel strongly that they are ready for a full business plan (especially after hearing that from others a number of times). Many are struggling to get started and have been convinced that (1) an influx of capital is really what they want and need, and (2) writing a business plan is the central task in obtaining funding. Even though a feasibility study would cost less and take less time, prospects may balk for a variety of reasons. To help prospects understand the value in a feasibility study, consultants need to listen to the client's concerns, then acknowledge and address them. The Free Management Library offers a manual on start-up feasibility with many useful links. See, http://managementhelp.org/strt_org/prep.htm Snipping out and customizing the applicable sections is handy. This situation arises frequently in my practice and this article offers sound advice for directing these idea-stage entrepreneurs towards preliminary investigations. It is worthy of note that clients often resist redirection in this way. They may feel strongly that they are ready for a full business plan (especially after hearing that from others a number of times). Many are struggling to get started and have been convinced that (1) an influx of capital is really what they want and need, and (2) writing a business plan is the central task in obtaining funding. Even though a feasibility study would cost less and take less time, prospects may balk for a variety of reasons. To help prospects understand the value in a feasibility study, consultants need to listen to the client’s concerns, then acknowledge and address them. The Free Management Library offers a manual on start-up feasibility with many useful links. See, http://managementhelp.org/strt_org/prep.htm Snipping out and customizing the applicable sections is handy.

]]> By: John Browning http://www.caycon.com/blog/2010/01/when-you-dont-need-a-business-plan-yet/comment-page-1/#comment-145 John Browning Sat, 23 Jan 2010 00:52:14 +0000 http://www.caycon.com/blog/?p=146#comment-145 Dear Akira: As you are probably aware, you referred me to Jimmy Lewin. We have had several conversations, and I will be in a position to bring you on board shortly. In the meantime, I am very impressed with the way I have been treated. Sure, each of us think our project is the greatest and should be put in the forefront, but thank you, and Jimmy, for taking the time and affording me the patience to help see me through. John Browning Dear Akira:
As you are probably aware, you referred me to Jimmy Lewin. We have had several conversations, and I will
be in a position to bring you on board shortly.
In the meantime, I am very impressed with the way I
have been treated. Sure, each of us think our project is the greatest and should be put in the forefront, but
thank you, and Jimmy, for taking the time and affording
me the patience to help see me through.

John Browning

]]> By: Tom Dykstra http://www.caycon.com/blog/2010/01/when-you-dont-need-a-business-plan-yet/comment-page-1/#comment-138 Tom Dykstra Thu, 21 Jan 2010 20:26:56 +0000 http://www.caycon.com/blog/?p=146#comment-138 This is an excellent post on putting first things first. The SBA lists many ways for a business to fail see http://www.sba.gov/smallbusinessplanner/plan/getready/SERV_SBPLANNER_ISENTFORU.html. But, “Hope springs eternal in the human breast” (Alexander Pope). For me, your point about the trusted advisor is the key. A trusted advisor adds more value during the feasibility stage than during the planning stage. This is an excellent post on putting first things first. The SBA lists many ways for a business to fail see http://www.sba.gov/smallbusinessplanner/plan/getready/SERV_SBPLANNER_ISENTFORU.html. But, “Hope springs eternal in the human breast” (Alexander Pope). For me, your point about the trusted advisor is the key. A trusted advisor adds more value during the feasibility stage than during the planning stage.

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