WHITE PAPER THE 7 STAGES OF BUSINESS LIFE CYCLE

Size: px
Start display at page:

Download "WHITE PAPER THE 7 STAGES OF BUSINESS LIFE CYCLE"

Transcription

1 WHITE PAPER THE 7 STAGES OF BUSINESS LIFE CYCLE With the passage of time, your company will go through various stages of the business life cycle. Learn what upcoming focuses, challenges and financing sources you will need to succeed. 1 Group Avenue Louisalaan B Bruxelles/Brussel

2 Business Life Cycle Your business is changing. With the passage of time, your company will go through various stages of the business life cycle. Learn what upcoming focuses, challenges and financing sources you will need to succeed. A business goes through stages of development similar to the cycle of life for the human race. Parenting strategies that work for your toddler cannot be applied to your teenager. The same goes for your small business. It will be faced with a different cycle throughout its life. What you focus on today will change and require different approaches to be successfu l. The 7 Stages of the Business Life Cycle Source: 2 Group Avenue Louisalaan B Bruxelles/Brussel

3 Seed The seed stage of your business life cycle is when your business is just a thought or an idea. This is the very conception or birth of a new business. Challenge: Most seed stage companies will have to overcome the challenge of market acceptance and pursue one niche opportunity. Do not spread money and time resources too thin. Focus: At this stage of the business the focus is on matching the business opportunity with your skills, experience and passions. Other focal points include: deciding on a business ownership structure, finding professional advisors, and business planning. Money Sources: Early in the business life cycle with no proven market or customers the business will rely on cash from owners, friends and family. Other potential sources include suppliers, customers, government grants and banks. In the seed stage, we have noticed many times that completion of a business plan is the biggest success factor for an emerging company. A good evaluation of the need of cash for the coming months is critical. During the first months, the company is going to develop its business model without getting revenue from sales. There are multitudes of good ideas when attempting to launch a company. But in order to be successful, the young company will need visionary managers with assiduity and flexibility in order to dynamically adapt the business model to stay in line with rapid market evolution. Launching a company and assessing the business model will often consume the equity invested by the owners. During the seed stage, the young company could readily prepare a tree year plan in order to convince new shareholders to support the next phases of development. services to consider Market research to keep in pace with the market demand Business Plan design Support the young company in its negotiations with the banks or other financial sources. 3 Group Avenue Louisalaan B Bruxelles/Brussel

4 Start-Up Your business is born and now exists legally. Products or services are in production and you have your first custom ers. Challenge: If your business is in the start -up life cycle stage, it is likely you have overestimated money needs and the time to market. The main challenge is not to burn through what little cash you have. You need to learn what profitable needs your clients have an d do a reality check to see if your business is on the right track. Focus: Start-ups require establishing a customer base and market presence along with tracking and conserving cash flow. Money Sources: Owner, friends, family, suppliers, customers, grants, and banks. "\ At this stage, the entrepreneur should put all his energy in the project. Time to market is essential. This is the risk zone. 25% of the start-ups do not reach their fifth anniversary. During the start-up stage, the budget best be revised often. More cash might be needed than expected. Unpredictable circumstances often affect plans and business model. Figures should be adapted quickly. If more cash is needed, banks are less and less a solution. Public institutions can leverage equity increase. Venture capital inflow is not easily negoti able. services to consider Support & coaching of the CEO and board of directors Complete Business & Marketing Plan Assistance in negotiations for capital increase 4 Group Avenue Louisalaan B Bruxelles/Brussel

5 Growth Your business has made it through the toddler years and is now a child. Revenues and customers are increasing with many new opportunities and issues. Profits are strong, but competition is surfacing. Challenge: The biggest challenge growth companies face is dealing with the constant range of issues bidding for more time and money. Effective management is required and an updated business plan might be needed. Learn how to train and delegate to conquer this stage of development. Focus: Growth life cycle businesses are focused on running the business in a more formal fashion to deal with the increased sales and customers. Better accounting and management systems will have to be set-up. New employees will have to be hired to deal with the influx of business. Money Sources: Banks, profits, partnerships, grants and leasing options. The most successful entrepreneurs are masters in finding knowledgeable brains to complement his/hers DIY approach. They team up with a kindred spirit leaving each other enough space to maneuver in a common agreed upon strategy resulting from business facts. It requires maturity to surround oneself with brighter actors in less mastered domains & providing empowered strategic framing. To stay ahead of the competition, innovation will need to find a breeding ground, as this together with sales & marketing are the only moneymake rs & growth busters in any one company no matter seize. It is a fact though that 67% of innovation stems from outside input either by addressing opinion leaders as a soundboard or external advisers helping to implement new ideas. Sales & Marketing are like fire and water and need to be blended through business development, which is the missing link to, a successful go to market commercial strategy. Using an external business development organization will dazzle competition and amaze & exceed customer expectation. services to consider External assistance with proven return of joint initiative will boost your R.O.I. 5 Group Avenue Louisalaan B Bruxelles/Brussel

6 Established Your business has now matured into a thriving company with a place in the market and loyal customers. Sales growth is not explosive but manageable. Business life has become more routine. Challenge: It is far too easy to rest on your laurels during this life stage. You have worked hard and have earned a rest but the marketplace is relentless and competitive. Stay focused on the bigger picture. Issues like the economy, competitors or changing customer tastes can quickly end all you have work for. Focus: An established life cycle company will be focused on improvement and productivity. To compete in an established market, you will require better business practices along with automation and outsourcing to improve productivity. Money Sources: Profits, banks, investors and government. It is difficult to accept for successful CEO s, who have had confirmation that their original ideas worked well, now need to reassess whether o their original project is still optimal to satisfy customers needs o their operating model is still the most efficient to maximize profitability and long-term development This rethinking the model phase is essential before additional growth is possible. The company has changed significantly due to business volumes: what was informal yesterday becomes now more formal, what has been achieved with a few people is now achieved by a larger staff, requiring more complex communication channels and some delegation of authority. Motivation from the staff also evolved: the ambitions/expectations from the 1 st time joiners are not identical to th ose of newcomers. The child is now becoming a young adult and the operational rules are different. Entrepreneurial CEO s are usually not well prepared to address such situations and external help from experienced peers might be very useful. services to consider CEO s need quite a lot of courage to accept the advice from peers to help them think out of the box while everything worked well before further growth. This is why the help of peers will demonstrate rapidly how their seniority will be a real added value to prepare the next development phase of the business 6 Group Avenue Louisalaan B Bruxelles/Brussel

7 Expansion This life cycle is characterized by a new period of growth into new markets and distribution channels. This stage is often the choice of the business owner to gain a larger market share and find new revenue and profit channels. Challenge: Moving into new markets require the planning and research of a seed or start-up stage business. Focus should be on businesses that complement your existing experience and capabilities. Moving into unrelated businesses can be disastrous. Focus: Add new products or services to existing markets or expand existing business into new markets and customer types. Money Sources: Joint ventures, banks, licensing, new investors and partners, profits, banks, investors and government. It is not because you are successful in your home country that this can be copypasted into any other. Same goes for product and service. Many horror stories exist with financial atrocities in consequence. It is recommended to learn from these mistakes to shorten the distance between expansion challenges and it solutions as well as addressing European subsidies where possible & available. services to consider Consider the impact that the size and nature of your business can have on international business. Then gauge commitment and resources available within your company to begin expanding (-porting). There are some tricky questions to answer: Have you done market research on target markets? Are you aware of current opportunities of marketing your demand on the export market (s)? Are you sure there is an export market for your products or services? What is your knowledge of your potential export market competition? Has there been a sufficient production / staff to meet growing demand? To what extent are your products / services to be adapted to the export market? Do you know the existing constraints (licenses..) for your products / services? Does your product / service have any competitive advantage in the target market? Any idea how competitive you export will be? What Incoterms will you offer? Have you selected a payment method for your export offers? How do you deliver products locally? Did you calculate the cost of transportation (by type)? Which distribution channels do you think of? Do you already know which mix of promotional methods you can / will use? Do you have appropriate export documentation for the target market (s)? To what extent have you decided to maintain your personal contact with the customers and how? Do you have your own website in English? Do you receive export questions or export orders via your website? Do you accept payments via your website? Does your team subscribe to the expansion? Are target market languages understood, spoken and written? 7 Group Avenue Louisalaan B Bruxelles/Brussel

8 Mature Year over year sales and profits tend to be stable, however competition remains fierce. Eventually sales start to fall off and a decision is needed whether to expand or exit the company. Challenge: Businesses in the mature stage of the life cycle will be challenged with dropping sales, profits, and negative cash flow. The biggest issue is how long the business can support a negative cash flow. Ask is it time to move back to the expansion stage or move on to the final life cycle stage...exit. Focus: Search for new opportunities and business ventures. Cutting costs and finding ways to sustain cash flow are vital for the mature stage. Money Sources: Suppliers, customers, owners, and banks. Profits, banks, investors and government. The maturity level of a company is a key stage of the life cycle of any company, which will need the highest level of capital to go further, and then what a company has ever engaged into. Such a key momentum shows how lonely a CEO can be, even with a strong Management Team and Board besides him. It is surely the stage where the CEO mostly needs the help of a peer, not only because of the amounts taken into consideration (banks are well acquainted to help and to make profitable business É. for them) but as a captain of industry, there are lots of decisions that need a sound discussion which an experienced peer can share with the CEO. One of the main difficulties for any CEO is managing the short-term daily business and simultaneously addressing very long-term issues related to either acquisition or sales of an activity. This depth of expertise is really complex to manage where it is not acceptable to only focus on the long-term objectives, for it is req uiring lots of time and management attention, as targets set might not be realized within the expected time frame. services to consider Macro market analysis related to who are the players you are competing with and understanding their business model and their level of (un)compliancy with your company Define a clear strategy of the development of your company (JV, acquisition, sales) In case of acquisition or sales of the company o set up details of targeted companies o anonymous market approach of targeted company to assess feasibility o managing the whole trade process in order to allow the CEO keeping managing the business 8 Group Avenue Louisalaan B Bruxelles/Brussel

9 Exit This is the big opportunity for your business to cash out on all the effort and years of hard work. Or it can mean shutting down the business. Challenge: Selling a business requires your realistic valuation. It may have been years of hard work to build the company, but what is its real value in the current market place. If you decide to close your business, the challenge is to deal with the financial and psychological aspects of a business loss. Focus: Get a proper valuation on your company. Look at your business operations, management and competitive barriers to make the company worth more to the buyer. Set-up legal buy-sell agreements along with a business transition plan. Money Sources: Find a business valuation partner. Consult with your accountant and financial advisors for the best tax strategy to sell or closedown business. Owners of middle size companies often overestimate the value of their company. The real value, and the only value of any firm, is the check an entrepreneur is ready to put on the table to acquire the company. Most of the owners have put all their energy and time in their company without cashing too much during company lifetime. At the exit time, they might be disappointed. Family companies with a charismatic owner are usually unprepared for a transfer where they have to stay in the company for a period of time (MBO or training of the new owner). They are not used to delegate nor seldom inclined to shed their power gradually. When no candidates are willing to pay the amount hoped for, e.g. in order to avoid the foreclosure of the company, they will prompt a MBO through a member of the management team. Advisers can help owners of family companies and mid-sized companies considerably during the preparation of a transmission. When an entrepreneur, a fund, or venture capitalist, want to acquire a company, all will spend much time to evaluate the financial results. All the banks will do the same. Very few analyze the non-financial aspects of a company: quality of the management, IT, production means, distribu tion networks, staff motivation, perfect fit between products and market demand. These non-financial elements are nevertheless essentials for a complete evaluation of any new acquisition. services to consider Support & coaching of the vendor Preparing the company to be sold in the best conditions 360 audit including all the valuable aspects of the company for the buyer 9 Group Avenue Louisalaan B Bruxelles/Brussel

10 Whether you are Chairman of the Board, CEO, Managing Director or General Manager within your company, we know that, like all executives, you are alone in the decisions you have to take. Because even if you practice participatory management, there are certain elements of your decision-making where it would be too sensitive to share with your board. We know from experience, that many company heads would like to be able to challenge their ideas with someone who has an identical level of responsibility and comparable experience in company management. We know that they would like to be able to confide specific assignments to consultants who speak the same language as them. Group provides you this opportunity. Peer to Peer: you will no t have in front of you consultants who simply carry out benchmarking and who will advise you to apply standardized solutions. We are a consultancy bureau exclusively composed of Partners who have proven experience in general management and consulting services. Having occupied various positions as board members, CEO, CXO and heads of company, our Partners have chosen to share their know-how, to assist and advise other executives. More information available from Thierry Janssen, Associated Partner, tja@jitm.eu 10 Group Avenue Louisalaan B Bruxelles/Brussel

K-12 Entrepreneurship Standards

K-12 Entrepreneurship Standards competitiveness. The focus will be on business innovation, change and issues related to the United States, which has achieved its highest economic performance during the last 10 years by fostering and

More information

Grooming Your Business for Sale

Grooming Your Business for Sale PRIVATE COMPANIES Grooming Your Business for Sale Plan for the Future but Be Prepared for the Unexpected KPMG ENTERPRISE 2 Grooming Your Business for Sale Grooming Your Business for Sale Plan for the Future

More information

Guide to Public and Private Funding

Guide to Public and Private Funding Guide to Public and Private Funding Introduction to public and private funding Key Public Funding Opportunities Key Private Funding Opportunities Which funding opportunity is right for my business? Do

More information

A PRACTICAL GUIDE TO VENTURE CAPITAL FUNDING FOR EARLY STAGE COMPANIES

A PRACTICAL GUIDE TO VENTURE CAPITAL FUNDING FOR EARLY STAGE COMPANIES A PRACTICAL GUIDE TO VENTURE CAPITAL FUNDING FOR EARLY STAGE COMPANIES A COURTESY GUIDE PREPARED BY SWAAB ATTORNEYS 2014 Introduction to venture capital investment Venture capital is money provided by

More information

Key Steps Before Talking to Venture Capitalists

Key Steps Before Talking to Venture Capitalists Key Steps Before Talking to Venture Capitalists Some entrepreneurs may not be familiar with raising institutional capital to grow their businesses. Expansion plans beyond common organic growth are typically

More information

Developing and Delivering a Winning Investor Presentation

Developing and Delivering a Winning Investor Presentation ENTREPRENEUR WORKBOOKS Business Planning and Financing Management Series Building Block 4 Developing and Delivering a Winning Investor Presentation MaRS Discovery District, December 2009 See Terms and

More information

Funding Small Business Ownership Transfers. Using Small Business Administration (SBA) Financing Strategies. 2016 Cornerstone Wealth Management Group

Funding Small Business Ownership Transfers. Using Small Business Administration (SBA) Financing Strategies. 2016 Cornerstone Wealth Management Group Funding Small Business Ownership Transfers Using Small Business Administration (SBA) Financing Strategies 2 About 80 percent of U.S. business owners say they want to pass their family business on to the

More information

Executive Summary of Mastering Business Growth & Change Made Easy

Executive Summary of Mastering Business Growth & Change Made Easy Executive Summary of Mastering Business Growth & Change Made Easy by David Matteson & Jeff Hansen, June 2008 You stand at a crossroads. A new division of your company is about to be launched, and you need

More information

DUE DILIGENCE CHECKLIST - BUSINESS ISSUES

DUE DILIGENCE CHECKLIST - BUSINESS ISSUES DUE DILIGENCE CHECKLIST - BUSINESS ISSUES 1. CORPORATE STRUCTURE AND GOVERNANCE 1.1 What is the Company s corporate structure? C corp., S corp., LLC or LP? Does this model allow for a liquidity event and/or

More information

Seed Funding and Venture Capital Course Certificate Program. Greg Horowitt, Managing Director, T2 Venture Capital Kauffman Fellow, Class XV

Seed Funding and Venture Capital Course Certificate Program. Greg Horowitt, Managing Director, T2 Venture Capital Kauffman Fellow, Class XV Seed Funding and Venture Capital Course Certificate Program Greg Horowitt, Managing Director, T2 Venture Capital Kauffman Fellow, Class XV Overview Introduction to Venture Capital Instruction provided

More information

Entrepreneurs Wary of Dilution? A Perspective to Consider

Entrepreneurs Wary of Dilution? A Perspective to Consider Entrepreneurs Wary of Dilution? A Perspective to Consider Most entrepreneurs are loath to give up equity anyone who has ever watched Shark Tank knows that. And it makes sense. After all, it s your breakthrough

More information

Financing a New Venture

Financing a New Venture Financing a New Venture A Canadian Innovation Centre How-To Guide 1 Financing a new venture New ventures require financing to fund growth Forms of financing include equity (personal, family & friends,

More information

The Leadership Pipeline Ram Charan, Stephen Drotter, and James Noel

The Leadership Pipeline Ram Charan, Stephen Drotter, and James Noel The Big Idea The Leadership Pipeline Ram Charan, Stephen Drotter, and James Noel There is a growing need to develop leaders within many corporations. The demand for leaders greatly outpaces the supply.

More information

Sources of finance (Or where can we get money from?)

Sources of finance (Or where can we get money from?) Sources of finance (Or where can we get money from?) Why do we need finance? 1. Setting up a business 2. Need to finance our day-to-day activities 3. Expansion 4. Research into new products 5. Special

More information

Analyzing the Impact of Social Media From Twitter to Facebook

Analyzing the Impact of Social Media From Twitter to Facebook Analyzing the Impact of Social Media From Twitter to Facebook Analyzing the Impact of Social Media: From Twitter to Facebook Engaging and monitoring the new world of social media are the big first steps,

More information

National Standards of Practice for Entrepreneurship Education

National Standards of Practice for Entrepreneurship Education National Standards of Practice for Entrepreneurship Education Facilitate student motivation Enhance opportunities for work and life Increase invention and innovation Strengthen economies Effective entrepreneurship

More information

Leadership Guide. DALE CARNEGIE DIGITAL Presents. Manage Change Effectively

Leadership Guide. DALE CARNEGIE DIGITAL Presents. Manage Change Effectively Leadership Guide DALE CARNEGIE DIGITAL Presents Manage Change Effectively Introduction MANAGE CHANGE EFFECTIVELY Organizations today operate in an environment of rapid, continuous change. Changes engage

More information

SOME IMPORTANT DIFFERENCES BETWEEN WHITE-LABEL JOB BOARD PROVIDERS

SOME IMPORTANT DIFFERENCES BETWEEN WHITE-LABEL JOB BOARD PROVIDERS SOME IMPORTANT DIFFERENCES BETWEEN WHITE-LABEL JOB BOARD PROVIDERS Contents Revenue share or flat fee? 3 Ownership of content? 4 ROI modeling and presales consultancy? 4 Hidden transactional fees? 4 Enhancements

More information

Develop Your Intuition about Value Multiples By Serena Morones, CPA, ABV, ASA, CFE

Develop Your Intuition about Value Multiples By Serena Morones, CPA, ABV, ASA, CFE By Serena Morones, CPA, ABV, ASA, CFE Introduction Do you have a reasonable sense about what multiple of EBITDA is appropriate to value your client s business? Or do you toss around standard rules of thumb

More information

HR Business Consulting Optimizing your HR service delivery

HR Business Consulting Optimizing your HR service delivery HR Business Consulting Optimizing your HR service delivery NorthgateArinso Business Consulting provides HR executives with unique insight to optimize the cost of HR service delivery, improve employee engagement,

More information

Theme 1: Helping SMEs in Doing Business

Theme 1: Helping SMEs in Doing Business Theme 1: Helping SMEs in Doing Business Good morning, ladies and gentlemen, There is no doubt that SMEs nowadays face an increasingly broadened scope of challenges. When we look at the group of manufacturers

More information

ESOP Advantage. Employee Stock Ownership Plan

ESOP Advantage. Employee Stock Ownership Plan ESOP Advantage Employee Stock Ownership Plan E The Smart Way to Structure Your Business The most important business move you ll ever make - could be your next one. If you are an entrepreneur launching

More information

Preserve, protect, and promote the value of your business. Start your business trek towards transition today.

Preserve, protect, and promote the value of your business. Start your business trek towards transition today. F e d e r a l R e s e r v e B a n k o f K a n s a s C i t y O m a h a B r a n c h i n p a r t n e r s h i p w i t h Creighton University School of Law Community Economic Development Clinic Nebraska Business

More information

US ONSHORING OFFERS SUPERIOR EFFECTIVENESS OVER OFFSHORE FOR CRM IMPLEMENTATIONS

US ONSHORING OFFERS SUPERIOR EFFECTIVENESS OVER OFFSHORE FOR CRM IMPLEMENTATIONS US ONSHORING OFFERS SUPERIOR EFFECTIVENESS OVER OFFSHORE FOR CRM IMPLEMENTATIONS Whitepaper Eagle Creek Software Services March 2015 Introduction CRM services are shifting from a focus on point solution

More information

Show your value, grow your business:

Show your value, grow your business: Show your value, grow your business: A SUPPLIER GUIDE TO MOVE FROM A TRANSACTIONAL PROVIDER TO A STRATEGIC PARTNER KAREN A. CALINSKI INTRODUCTION /02 At KellyOCG we take a holistic approach to talent sourcing

More information

A primer in Entrepreneurship. Chapter 3: Feasibility Analysis

A primer in Entrepreneurship. Chapter 3: Feasibility Analysis Chapter 3 Feasibilty Analysis Prof. Dr. Institute for Strategy and Business Economics Chapter 3: Feasibility Analysis Table of Contents A. What is feasibility analysis? C. Industry/Market Feasibility D.

More information

Introduction... 1 Website Development... 4 Content... 7 Tools and Tracking... 19 Distribution... 20 What to Expect... 26 Next Step...

Introduction... 1 Website Development... 4 Content... 7 Tools and Tracking... 19 Distribution... 20 What to Expect... 26 Next Step... Contents Introduction... 1 Website Development... 4 Content... 7 Tools and Tracking... 19 Distribution... 20 What to Expect... 26 Next Step... 27 Introduction Your goal is to generate leads that you can

More information

E XPERT PERFORMANC E. Building Confidence. Charting Your Course to Higher Performance. The Number 1 Challenge for New Leaders

E XPERT PERFORMANC E. Building Confidence. Charting Your Course to Higher Performance. The Number 1 Challenge for New Leaders E XPERT PERFORMANC E Charting Your Course to Higher Performance CHALLENGE: Today s leaders need to meet an increasing demand for measurable results in ever decreasing time frames. SOLUTION: Ultimately

More information

The Future-Proof Telco: New Models for Service Creation

The Future-Proof Telco: New Models for Service Creation The Future-Proof Telco: New Models for Service Creation Telecoms operators that compete on service creation and service agility are the ones that are ready for the future. Today s telecoms market demands

More information

Capital Market Glossary of Terms Apple Capital Group, Inc

Capital Market Glossary of Terms Apple Capital Group, Inc GLOSSARY OF TERMS -A- Accredited Investor The SEC designation for an individual or entity meeting any of the following criteria: Any director, executive officer, or general partner of the issuer of the

More information

Rob Follows: Selling Your Business to a Strategic Buyer and Getting Up to 300% More Money For It

Rob Follows: Selling Your Business to a Strategic Buyer and Getting Up to 300% More Money For It Rob Follows On Selling Your Business to a Strategic Buyer and Getting Up to 300% More Money For It I m here today with Rob follows. Rob is the founder of STS Capital Partners, which is an international

More information

How to Sell Your Home FAST And For FULL PRICE!!

How to Sell Your Home FAST And For FULL PRICE!! FREE Special Report: Compliments of www.bobbuysfast.com How to Sell Your Home FAST And For FULL PRICE!! DISCOVER how you can sell your home fast and for Full Price even if your house has been on the market

More information

The three most important things in retailing are location, location and location.

The three most important things in retailing are location, location and location. Location Introduction Most business studies textbooks can t resist starting a section on business location with the following phrase: The three most important things in retailing are location, location

More information

Structured Products. Designing a modern portfolio

Structured Products. Designing a modern portfolio ab Structured Products Designing a modern portfolio Achieving your personal goals is the driving motivation for how and why you invest. Whether your goal is to grow and preserve wealth, save for your children

More information

Heinz College Carnegie Mellon University

Heinz College Carnegie Mellon University Heinz College Carnegie Mellon University Course: 95-794 - Tech Startup: Tools and Techniques Course Description: There are important entrepreneurial traits and abilities that can only be learned and developed

More information

CHAPTER 17. Financial Management

CHAPTER 17. Financial Management CHAPTER 17 Financial Management Chapter Summary: Key Concepts The Role of the Financial Manager Financial managers Risk-return trade-off Executives who develop and implement their firm s financial plan

More information

An Introduction to PRINCE2

An Introduction to PRINCE2 Project Management Methodologies An Introduction to PRINCE2 Why use a Project Methodology and What Does PRINCE2 Enable? PRINCE - PRojects IN Controlled Environments - is a project management method covering

More information

Planning for business transition:

Planning for business transition: Planning for business transition: The importance of working on why not and setting personal goals Inside: Understanding your own why not How to think about transition Exploring your options for the business

More information

Choosing HOW you fund your business is just as IMPORTANT as the business you choose.

Choosing HOW you fund your business is just as IMPORTANT as the business you choose. Choosing HOW you fund your business is just as IMPORTANT as the business you choose. About Benetrends Benetrends has been helping visionary entrepreneurs successfully launch their dreams for nearly 30

More information

How B2B Customer Self-Service Impacts the Customer and Your Bottom Line. zedsuite

How B2B Customer Self-Service Impacts the Customer and Your Bottom Line. zedsuite How B2B Customer Self-Service Impacts the Customer and Your Bottom Line Introduction For small to mid-sized businesses trying to grow and compete with their larger counterparts, having close relationships

More information

BUILDING AN INNOVATIVE INNOVATION TEAM

BUILDING AN INNOVATIVE INNOVATION TEAM NINESIGMA WHITE PAPER BUILDING AN INNOVATIVE INNOVATION TEAM Author: Denys Resnick Director, Strategic Programs Denys Resnick is responsible for incubating and launching NineSigma s new products and services.

More information

FUJITSU Transformational Application Managed Services

FUJITSU Transformational Application Managed Services FUJITSU Application Managed Services Going digital What does it mean for Applications Management? Most public and private sector enterprises recognize that going digital will drive business agility and

More information

Prospecting. in the Business Planning Market. For agent use only. This material may not be used with the public. LIFE-5663-Prospecting 02/16

Prospecting. in the Business Planning Market. For agent use only. This material may not be used with the public. LIFE-5663-Prospecting 02/16 Prospecting in the Business Planning Market LIFE-5663-Prospecting 02/16 For agent use only. This material may not be used with the public. WHAT IS PROSPECTING? In simplest terms, prospecting is all about

More information

Loans Mentoring Support. The Essential Guide to STARTING A BUSINESS

Loans Mentoring Support. The Essential Guide to STARTING A BUSINESS Loans Mentoring Support The Essential Guide to STARTING A BUSINESS To help you get to the stage where you can turn that business idea into a reality, we ve created this short guide of important aspects

More information

Grants for Small Business Owners

Grants for Small Business Owners Grants for Small Business Owners Find the Funding You Need to Start or Grow Your Business By: FundingPost A Second Venture Company 2007 Second Venture Corporation. If you are interested in Purchasing the

More information

VALUED REPRESENTATION When Selling a Business

VALUED REPRESENTATION When Selling a Business VALUED REPRESENTATION When Selling a Business VR Has Sold More Businesses In The World Than Anyone. SELLING YOUR BUSINESS The entrepreneurial boom has changed the face of business around the globe. Today,

More information

PASSING THE TORCH. How to plan for a successful succession

PASSING THE TORCH. How to plan for a successful succession PASSING THE TORCH How to plan for a successful succession KEY TAKEAWAYS Having a succession plan in place is vital to the ongoing success and potentially to the near-term growth of your practice. You can

More information

Owner managed businesses: Bringing your corporate and personal goals to life

Owner managed businesses: Bringing your corporate and personal goals to life Owner managed businesses: Bringing your corporate and personal goals to life Owner managed businesses PRECISE. PROVEN. PERFORMANCE. Bringing your corporate and personal goals to life Dynamic. Ambitious.

More information

ACTION ENTREPRENEURSHIP GUIDE TO GROWTH. Report on Futurpreneur Canada s Action Entrepreneurship 2015 National Summit

ACTION ENTREPRENEURSHIP GUIDE TO GROWTH. Report on Futurpreneur Canada s Action Entrepreneurship 2015 National Summit ACTION ENTREPRENEURSHIP GUIDE TO GROWTH Report on Futurpreneur Canada s Action Entrepreneurship 2015 National Summit REPORTING BACK Introduction Futurpreneur Canada launched Action Entrepreneurship in

More information

Planning for Succession of a Business Interest

Planning for Succession of a Business Interest Planning for Succession of a Business Interest Page 1 of 5, see disclaimer on final page Planning for Succession of a Business Interest Business succession planning--what is it? One of the important decisions

More information

Your business journey

Your business journey Your business journey Where do you want to go? Where are you going? It seems like a big question, doesn t it? But, in terms of your business it is vital to know not only where you are going but where you

More information

Board Governance Principles Amended September 29, 2012 Tyco International Ltd.

Board Governance Principles Amended September 29, 2012 Tyco International Ltd. BOD Approved 9/13/12 Board Governance Principles Amended September 29, 2012 Tyco International Ltd. 2012 Tyco International, Ltd. - Board Governance Principles 1 TABLE OF CONTENTS TYCO VISION AND VALUES...

More information

Do you really need investors?

Do you really need investors? Do you really need investors? Bootstrapping vs funding Wolves Summit, Gdynia, April 2015 Raise or bootstrap? For too many start-ups raising capital has replaced building a well-balanced business Money

More information

Fintech CIOs as venture capitalists

Fintech CIOs as venture capitalists Fintech CIOs as venture capitalists Patrick Laurent Partner Technology & Enterprise Application Leader Deloitte Nicolas Vauclin Senior Consultant Technology & Enterprise Application Deloitte Financial

More information

Masterclass Series. Sales Training Courses

Masterclass Series. Sales Training Courses Masterclass Series of Sales Training Courses Testimonials I always enjoy how I feel after a durhamlane workshop empowered and motivated to attack my sales objectives. Cost effective and very good value

More information

Life Stages. of an interior design business

Life Stages. of an interior design business Life Stages of an interior design business start up start up Assessing the market / defining your niche or opportunity Creating your brand business name / trademark issues / image Creating business collateral

More information

# of Annual % of Busines Sales Busine Sell for % for Sale % that Sell ses sses < $500K $500K- $1M $1 - $2.5M $2.5- $10M $10-$50M >$50M 100

# of Annual % of Busines Sales Busine Sell for % for Sale % that Sell ses sses < $500K $500K- $1M $1 - $2.5M $2.5- $10M $10-$50M >$50M 100 With Succession in Mind Increasing Your Business Value For Remodelers Gregory R. Caruso Attorney, CPA, CVA Principal, 410-507-5441 gcaruso@harvestbusiness.com 1 What We Will Cover Huge Value Swing Business

More information

CE University, Inc. Business Plan Lacture 11B.1. Executive Summary

CE University, Inc. Business Plan Lacture 11B.1. Executive Summary CE University, Inc. Business Plan Lacture 11B.1 The Company Executive Summary CE University, Inc. ( CEU ) is a learning management system company. It is early stage venture that creates and sells online

More information

Financing Entrepreneurial Ventures Part 1 Financial Plan & Statements

Financing Entrepreneurial Ventures Part 1 Financial Plan & Statements Financing Entrepreneurial Ventures Part 1 Financial Plan & Statements Barbara Peitsch Program Director, Univ. of Michigan Peter Scott Professor of Entrepreneurship/Consultant August 2015 Economic Empowerment

More information

preparing a business plan

preparing a business plan A DV I C E B O O K L E T preparing a business plan BUSINESS PLANS Writing a business plan before starting a business reduces the trial and error factor (which is a very costly process) and will prevent

More information

creativity ADAPTABIlITY PASSION www.webcon.co.in

creativity ADAPTABIlITY PASSION www.webcon.co.in creativity ADAPTABIlITY PASSION www.webcon.co.in TABlE OF contents 01 EXECUTIVE SUMMARY 02 BUSINESS STATEMENT 03 WEB DESIGN 04 SEO SERVICES 05 SOCIAL MEDIA 06 WHY WEBCON TECHNOLOGIES 07 QUALLTY ASSURANCE

More information

Understanding the tasks performed

Understanding the tasks performed What Do Venture Capitalists Really Do, and Where Do They Learn to Do It? FRED DOTZLER FRED DOTZLER is a founder and managing director of De Novo Ventures in Menlo Park, CA. fred@denovovc.com Understanding

More information

A little book about SaaS. how to scale a SaaS startup

A little book about SaaS. how to scale a SaaS startup A little book about SaaS how to scale a SaaS startup Dear startup Every year we work with several hundred early stage tech startups. Working with such a large amount of startups enables us to identify

More information

2015 Russian Nanotechnology Investment Enabling Technology Leadership Award

2015 Russian Nanotechnology Investment Enabling Technology Leadership Award 2015 Russian Nanotechnology Investment Enabling Technology Leadership Award 2015 Contents Background and Company Performance... 3 Technology Leverage and Customer Impact of OJSC RUSNANO... 3-5 Conclusion...

More information

Strategic Management Consulting. Executive Search & Leadership Consulting. Public Affairs & Government Relations

Strategic Management Consulting. Executive Search & Leadership Consulting. Public Affairs & Government Relations Strategic Management Consulting Executive Search & Leadership Consulting Public Affairs & Government Relations Leadership without character is unthinkable or should be. Warren Bennis Anniversaries provide

More information

SALES & SALES MANAGEMENT TRAINING

SALES & SALES MANAGEMENT TRAINING SALES & SALES MANAGEMENT TRAINING Sales are the key to setting up and running a successful business. However, it is not sufficient just to have a passion for your particular product or service. You will

More information

Venture Capital a primer

Venture Capital a primer Venture Capital a primer And some lessons learned for entrepreneurs Martin De Prycker November 2015 Contents I. VCs and how they work Qbic Fund Sources of Capital Fund structure What does a fund offer?

More information

UNDERSTAND YOUR CLIENTS BETTER WITH DATA How Data-Driven Decision Making Improves the Way Advisors Do Business

UNDERSTAND YOUR CLIENTS BETTER WITH DATA How Data-Driven Decision Making Improves the Way Advisors Do Business UNDERSTAND YOUR CLIENTS BETTER WITH DATA How Data-Driven Decision Making Improves the Way Advisors Do Business Executive Summary Financial advisors have long been charged with knowing the investors they

More information

Global Startup Program

Global Startup Program Global Startup Program Terms of Reference NATIONAL CALL 2014 May 2014 2014 IC 2 Institute Proprietary Chapter I - Objective and scope ARTICLE 1 - OBJECTIVE 1. The purpose of the Global Startup Program

More information

Guidelines for Preparation of a Business Plan

Guidelines for Preparation of a Business Plan Guidelines for Preparation of a Business Plan These notes are provided as a guide for preparation and submission of a Business Plan detailed presentation of a project, business venture or technology development,

More information

Consultants To Nonprofits

Consultants To Nonprofits CUSTOMER DELIGHT TIPS & THINGS TO PONDER CUSTOMER DELIGHT TIPS & THINGS TO PONDER JOHN PAUL PARTNER Consultants To Nonprofits 2002, Association Works P.O. Box 741325 Dallas, Texas 75374 http://www.associationworks.com

More information

Making a positive difference for energy consumers. Competency Framework Band C

Making a positive difference for energy consumers. Competency Framework Band C Making a positive difference for energy consumers Competency Framework 2 Competency framework Indicators of behaviours Strategic Cluster Setting Direction 1. Seeing the Big Picture Seeing the big picture

More information

Part 10. Small Business Finance and IPOs

Part 10. Small Business Finance and IPOs Part 10. Small Business Finance and IPOs In the last section, we looked at how large corporations raised money. In this section, we will examine some of the financing issues facing small and start-up businesses.

More information

Whitepaper. IT Strategies for HR Transformation YOUR SUCCESS IS OUR FOCUS. Published on: Feb 2006 Author: Madhavi M

Whitepaper. IT Strategies for HR Transformation YOUR SUCCESS IS OUR FOCUS. Published on: Feb 2006 Author: Madhavi M YOUR SUCCESS IS OUR FOCUS Whitepaper IT Strategies for HR Transformation Published on: Feb 2006 Author: Madhavi M 2009 Hexaware Technologies. All rights reserved. Table of Contents 1. Executive Summary

More information

Turn Your Business Vision into Reality with Microsoft Dynamics GP

Turn Your Business Vision into Reality with Microsoft Dynamics GP Turn Your Business Vision into Reality with Microsoft Dynamics GP You have worked hard to build a vision for your business. With a business solution from Microsoft, you can turn that vision into reality.

More information

The Essential Guide to: Risk Post IPO

The Essential Guide to: Risk Post IPO S TRATEGIC M ARKETS G ROWTH The Essential Guide to: Risk Post IPO Embracing risk for reward Introduction So you ve made it you have taken your business public. It s been a rollercoaster ride and you have

More information

6 Week Business Start-Up

6 Week Business Start-Up 6 Week Business Start-Up Northfield Enterprise Center Formatted in conjunction with 6 Week Start-Up by Rhonda Abrams. 11 CLARIFY YOUR BUSINESS CONCEPT Identify your personal goals. What motivates you?

More information

CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM)

CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM) CHAPTER 3 - CUSTOMER RELATIONSHIP MANAGEMENT (CRM) 3.1 INTRODUCTION The most important purpose of any service orientated organisation is to retain customers. It is critical for any organization to keep

More information

Telemarketing Services Buyer's Guide By the purchasing experts at BuyerZone

Telemarketing Services Buyer's Guide By the purchasing experts at BuyerZone Introduction: reasons to outsource The main reason companies outsource telemarketing operations is that setting up a large scale telemarketing call center is expensive and complicated. First you ll need

More information

Donald W. Reynolds Governor s Cup Written Competition Scorecard Small Business Division

Donald W. Reynolds Governor s Cup Written Competition Scorecard Small Business Division Donald W. Reynolds Governor s Cup Written Competition Scorecard Small Business Division Judge Name or ID# - ENTER HERE: Team Name or ID# ENTER HERE: Executive Summary The executive summary is clear, concise,

More information

Can a Small Business Outsource Its Sales?

Can a Small Business Outsource Its Sales? Can a Small Business Outsource Its Sales? Overview We wrote this white paper to help small business owners deal with a very real, very frequent issue that occurs today. We have all heard the statistic

More information

A primer in Entrepreneurship. Chapter 4: Writing a Business Plan

A primer in Entrepreneurship. Chapter 4: Writing a Business Plan Chapter 4 Writing a Business Plan Prof. Dr. Institute for Strategy and Business Economics Chapter 4: Writing a Business Plan Table of Contents I. The Business Plan I Presenting the Business Plan to Investors

More information

Why have an accounting system?

Why have an accounting system? Why have an accounting system? Steve Nelson, CPA and author of QuickBooks for Dummies (1) Tax law requires your business to have a financial accounting system that works. Watch this webinar Your Guide

More information

How To Improve Sales At A Large Business

How To Improve Sales At A Large Business The Technology Industry: Sales Trends and Strategic Initiatives Executive Summary While steady investments in technology by both companies and consumers have underwritten much of the productivity increases

More information

Primer ON THE THREE HORIZON GROWTH PROCESS. Growth: It s Everybody s Business!

Primer ON THE THREE HORIZON GROWTH PROCESS. Growth: It s Everybody s Business! Primer ON THE THREE HORIZON GROWTH PROCESS ACCELERATING AND SUSTAINING GROWTH THROUGH RAPID-CYCLE, MEDIUM- AND LONG-TERM BUSINESS BUILDING PROJECTS Growth: We re on our way... and gaining speed Growth

More information

4 What Are the Exit Options for

4 What Are the Exit Options for CHAPTER 4 What Are the Exit Options for your Business? Choosing the optimum exit option for your business is a vital part of exit strategy planning. In this chapter we: examine briefly the various exit

More information

Building a Unique Total Rewards and HR System For A Unique Company At

Building a Unique Total Rewards and HR System For A Unique Company At Building a Unique Total Rewards and HR System For A Unique Company At Since Starbucks isn t your typical company, this isn t a typical case study. Rather than focusing on a single reward program or even

More information

BUSINESS PLAN OUTLINE

BUSINESS PLAN OUTLINE I - BUISNESS PLAN OUTLINE INTRODUCTION TO THE BUSINESS PLAN & CONCEPT Before starting a new business or expanding an existing business, you should develop a Business Plan. The Business Plan will serve

More information

Driving Profits from Loyalty

Driving Profits from Loyalty Driving Profits from Loyalty Overview 1 P a g e 5 Steps to Driving Profit from Loyalty 1. Customer Portfolio Analysis This is the first step on the road to customer profitability where we can begin to

More information

1. Dream, Mission, Vision and Values

1. Dream, Mission, Vision and Values 1. Dream, Mission, Vision and Values This document constitutes Chapter 1 of the Fundamental Texts of CGI Group Inc. It begins with the mission statement of the company and is followed by the vision, the

More information

BETTER RELATIONSHIP SELLING

BETTER RELATIONSHIP SELLING BETTER RELATIONSHIP SELLING A Proven Formula For Acquiring and Developing Relationships with High Value Customers Three actions your company can take today to improve relationship selling performance and

More information

Strategic Brand Management Building, Measuring and Managing Brand Equity

Strategic Brand Management Building, Measuring and Managing Brand Equity Strategic Brand Management Building, Measuring and Managing Brand Equity Part 1 Opening Perspectives 开 放 视 觉 Chapter 1 Brands and Brand Management ------------------------------------------------------------------------

More information

THE CASE FOR OUTSOURCED WRITING SUPPORT

THE CASE FOR OUTSOURCED WRITING SUPPORT ASCRIBE MARKETING COMMUNICATIONS INC. THE CASE FOR OUTSOURCED WRITING SUPPORT Why more organizations are turning to specialized partners to generate content and communicate with stakeholders Corporate

More information

Business Plan for Implementing Electronic Commerce

Business Plan for Implementing Electronic Commerce Introduction to Electronic Commerce Business Plan for Implementing Electronic Commerce Objectives In this chapter, you will learn about: Planning electronic commerce initiatives Strategies for developing

More information

HOW A MOBILE CRM MAKES YOU MORE SUCCESSFUL

HOW A MOBILE CRM MAKES YOU MORE SUCCESSFUL Book 2 of 4 HOW A MOBILE CRM MAKES YOU MORE SUCCESSFUL PART OF THE CRM SUCCESS SERIES Introduction THE MODERN CRM Customer relationship management (CRM) solutions have been used by companies to sell, service,

More information

Behavioral Interview Questions

Behavioral Interview Questions Behavioral Interview Questions Carnegie Mellon has identified five core competencies that are required of all employees for success at the university. These are: Customer Service Teamwork Initiative Leadership

More information

ISSUES OF ENTREPRENEURSHIP AND INNOVATION

ISSUES OF ENTREPRENEURSHIP AND INNOVATION IMPACT: International Journal of Research in Business Management (IMPACT: IJRBM) ISSN(E): 2321-886X; ISSN(P): 2347-4572 Vol. 2, Issue 2, Feb 2014, 71-76 Impact Journals ISSUES OF ENTREPRENEURSHIP AND INNOVATION

More information

Building Relationships by Leveraging your Supply Chain. An Oracle White Paper December 2001

Building Relationships by Leveraging your Supply Chain. An Oracle White Paper December 2001 Building Relationships by Leveraging your Supply Chain An Oracle White Paper December 2001 Building Relationships by Leveraging your Supply Chain EXECUTIVE OVERVIEW This white paper illustrates why a fusion

More information

This paper was presented at the 1995 CAUSE annual conference. It is part of the proceedings of that conference, "Realizing the Potential of

This paper was presented at the 1995 CAUSE annual conference. It is part of the proceedings of that conference, Realizing the Potential of This paper was presented at the 1995 CAUSE annual conference. It is part of the proceedings of that conference, "Realizing the Potential of Information Resources: Information, Technology, and Services--Proceedings

More information

1 The Role of Accounting

1 The Role of Accounting 5 1 The Role of Accounting Accounting Information Accounting provides financial information for a variety of entities to enable them to make informed judgements and decisions. It is important that you

More information