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The value proposition is only part of your business plan, but it's the most important part IMHO.
While the Value Part is Very Important doing the Business plan properly is the most important thing you will ever do.
I've lost count of the people who simply ignore the need for a Business Plan or worse still write out a bit of stuff on the back of a scrap of paper and call that their Business Plan.
For some strange reason these people are the ones who fail or worse still scrape through nearly enough to almost live but work 100 + hours a week to get to that stage.
Before you can have any sort of business you need a Great Business Plan though that also has it's disadvantages if you really do it quite well and can not say no to your clients. You could very well find you have more money than you know what to do with and are still working 100 + Hours a week because everyone wants you to fix the problem that they currently have.
Though a Poor or No Business Plan almost always leads to failure and that's a certainty.
Col
I've lost count of the people who simply ignore the need for a Business Plan or worse still write out a bit of stuff on the back of a scrap of paper and call that their Business Plan.
For some strange reason these people are the ones who fail or worse still scrape through nearly enough to almost live but work 100 + hours a week to get to that stage.
Before you can have any sort of business you need a Great Business Plan though that also has it's disadvantages if you really do it quite well and can not say no to your clients. You could very well find you have more money than you know what to do with and are still working 100 + Hours a week because everyone wants you to fix the problem that they currently have.
Though a Poor or No Business Plan almost always leads to failure and that's a certainty.
Col
Most people don't know what insurance, taxes, and retirement planning really costs. This is all stuff that is largely invisible to your typical wage earner. My checking account suggests I'm rich the week before my monthly and quarterly payments are due. Not so much afterwards.
And do you ever want to have a vacation or time off, better plan for that too. Nobody pays you when you aren't working.
And do you ever want to have a vacation or time off, better plan for that too. Nobody pays you when you aren't working.
some customers are like that 
From my experience, knowing where the money is going to come from is more important. After all, there's no point in providing value if there's no income coming from that value. Not to mention the fact that it's almost impossible to identify value without knowing who is buying and what they are buying.
Having said that I agree with your points, Chip.
Hal, I disagree that the business plan needs to be formal. The only reason that you need a formal business plan is if you are dealing with the bank or another outsider. Your business plan does, however, need to be complete and recorded (reviewable actually).
Glen Ford
http://www.vproz.ca
Having said that I agree with your points, Chip.
Hal, I disagree that the business plan needs to be formal. The only reason that you need a formal business plan is if you are dealing with the bank or another outsider. Your business plan does, however, need to be complete and recorded (reviewable actually).
Glen Ford
http://www.vproz.ca
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