HOW TO SUCCEED AT A TRULY SEASONAL BUSINESS In a business that is truly driven by the seasons, there are steps that can be taken to ensure greater success. The two most important factors are managing cash flow and hiring the right employees. Finding and keeping good employees is another […]
Business
WHY COMPANY VISION AND VALUES ARE IMPORTANT Vision Every great company begins with the entrepreneur’s vision of what that company will become. Just as top professional athletes envision everyday play of an upcoming game before they ever set foot on the playing field, so do entrepreneurs envision the kind of […]
HOW TO BECOME A SOCIALLY RESPONSIBLE COMPANY Today, it is not enough to have a successful business and make a profit. The business must hold itself to a higher standard of social responsibility by giving something back to the community or communities in which it does business, and through them, […]
WHY EXIT PLAN IS IMPERATIVE FOR ENTREPRENEURS Many first-time entrepreneurs have questioned the need for an exit plan, or harvest plan, because they are more concerned with launching the business and making it a success than with thinking about how they are going to get out. But even though some […]
HOW A COMPANY CAN GROW BY GOING GLOBAL Today the question for a growth-oriented company is not “Should we go global? But “when should we go global?” There are many reasons why entrepreneurs must consider the global market even as early as the development of their original business plan. For […]
THE PROCESS OF DEVELOPING A CODE OF ETHICS The process of developing a code of ethics begins with company self-examination to identify values held by individuals and alert everyone to inconsistencies in how people deal with particular issues. For a new company, this means getting the founding team together to […]
ETHICS AND SOCIAL RESPONSIBILTY Ethics or the moral code by which we live and conduct business – essentially the concept of right and wrong – derives from the cultural, social, political, and ethnic norms with which we are raised as children. People don’t always sit down to think about their […]
THE PRODUCT DEVELOPMENT CYCLE There are ways for entrepreneurial firms to compete effectively in the area of production development. In fact the environment for product development is uniquely suited to smaller companies, which are often better able to adapt to change and move quickly in new directions. Three fundamental strategies […]
NEW VENTURE CREATION: FROM FEASIBILITY CONCEPT TO BUSINESS PLAN Simply stated, feasibility is about the business idea and testing the business concept. The business plan is about the execution strategy that will bring that idea to market. The business plan serves three purposes: (1) it serves as a reality check […]
WHY BUSINESS MODELS FAIL Developing a Business Concept A business concept is a concise description of an opportunity that contains four essential elements: The customer definition; the value proposition (or benefit to the customer) and the compelling story; the product/service; and the distribution channel or means of delivering the benefit […]
