In the real world, more than a half-million businesses fail each year. The ones that do make it have a solid business plan.
Chicago, IL (PRWEB) October 10, 2005 – When Steve Kaplan was little, he used to imagine being a businessman, seeing himself walking in a nice suit with the ties blowing back on a windy day. But he never saw himself assessing the viability of his business.
That's why they call that daydreaming. In the real world, more than a half-million businesses fail each year. The ones that do make it have a solid business plan.
If professionals don't know their business model is solid – the "right" price for their goods, the projected number of customers, the projected sales, what their strengths and weaknesses are – they need to.
Kaplan’s friend Jenny Austin learned this lesson the hard way. She opened up a coffee house that sold premium and gourmet coffee for the price of regular coffee. The neighborhood already had several other coffee shops, as well as bookstores and restaurants where customers could grab a cup of Joe. Six months later, Jenny was out of business.
Jenny had fallen into what Kaplan calls "The Hunch Trap." She assumed that people would gravitate to her shop to save a few cents and savor a tastier brew. Yet in reality, people are creatures of habit and often choose their coffee provider for the ambience or convenience, not the objective quality.
Had Jenny actually taken the time to test her hunch, she might have spared herself a great disappointment. She could have positioned her product differently, changed her product altogether, or even taken a pass on the entire venture.
Not to get too philosophical, but the successful part of time in business will all radiate back to the time at which professionals came up with their blueprint for success. What was their company's blueprint for success? Ask the question, and be more likely to come up with the answer.
Kaplan developed a proven method for evaluating blueprints or business plans, and he shares it through his Rock Solid Toolbox.
Contact:
Michael Drew
850-747-8188
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