Kick Start Your Business With Long Term Business Plan

Nobody plans to fail, but if you fail to plan you probably will. A long-term focus is essential for success. This includes considering every contingency and deciding ahead of time what to do if it happens. It gives you direction and makes decision making along the way easier. The benefits of planning are perhaps best made through an analogy.

Two couples left Southampton harbour for a month’s sailing holiday. They had filled the boat with provisions and decided to just sail where they pleased each day and not be tied down to a rigid timetable. Besides, it saved a lot of boring time planning and added an adventure element.

Was the holiday a success? How could you know? What criteria could you measure it against? Did everyone do what they individually wanted to do? Did the four people work as a team? Were their options restricted by not having the charts and other equipment for certain waters? Did they find that something essential had not been packed? Was provision made for mishap? Were the costs divided equally and fairly? Were there any arguments as to what to do and who would do what each day? (more…)

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Being Focus And Maintain Passion In Business Development

Think of today as the first day of the rest of your life. Imagine that you were born today and took over the body you now possess. You cannot change what happened in the past but you can choose to be helped or hindered from the experiences. If you choose the latter, and it is a choice, then you are also going to hinder your future. Put like that it is obvious which choice to take. The trick is knowing that you have a choice.

One of the techniques I use when I am brought in as a headhunter is to make a simple analysis of the verb tenses that somebody uses. I simply count every verb they say (or write) in three columns. I make sure that questions don’t lead. I total up the past, present and future tenses that they use. This shows where their focus is. (more…)

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Establish Good Credit Terms In Business Development Process

From the beginning, make it clear to vendors that your company pays promptly in order to earn credit terms for large projects.

When Tim Williams and Craig Woerz launched Media Storm, a me­dia planning and buying agency in Norwalk, Connecticut, in 2001, they wrote into the pro forma financial statement of their business plan the need to prepay their initial purchases of time and space in major media.

“I had been in the cable industry since 1980, my partner since 1990, so we recognized that we may have to prepay invoices because media don’t extend credit to start-ups,” Tim explains. “That was part of our initial capitalization.”

Sure enough, their very first project in November 2001 was to buy 30-second commercial time on a national cable network to promote a movie. (more…)

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