Business Plan Mistake # 9 Unsupported Financial Projections
As a rule, we entrepreneurs are optimists. We start businesses not because we have a high tolerance for risk, but because we believe in our idea, product, or service. We also believe in our ability to make the venture successful. This optimism, however, is often not supported by the facts and can lead us to make our next mistake. Business Plan Mistake #9 Unsupported Financial Projections Unrealistic financial projects with a hockey-stick-shaped growth curve, can set up a business for failure when owners spend too much too soon without enough cash reserves to help the business through the...
read moreGot Back Up?
Today’s guest post is from Heid, the CEO of ProVim. They are our web host, not just for Roundpeg, but every website we build for our clients. More than anything else, we work with them because of their service. Things don’t go wrong with websites often, but when they do, I am glad we work with Provim! Got Back Up? Every once in a while we’ll get a call from a customer frantically describing that they accidentally just deleted their website (with no backup in hand). Thankfully, for these customers, we’ve had backups of their sites. In the event that the...
read moreEpisode 22 – But it is My Business
I am interrupting my series on small business planning, to include an interview with my friend, Laina Moloski dropped by the other day to talk about all the new changes at C & S Consulting which include her new books, and new web site. In this first podcast we focus on her new book: But it is My Business in which she shares tips and realistic ideas for small business owners. From ideas on how to terminate employees to tips on sales and planning, Laina approaches the process of owning a business with humor and serious advice. The book will be launch on March 30, but it is available now...
read moreBusiness Plan Mistake # 8 Activities Not Tied to Goals
Many successful small business owners have more than a slight case of ADD. It is what allows us to juggle all the balls our business requires. Sometimes however, it is tough to keep one eye on the most important balls, because we are attracted to the small shiny objects. Allowing ourselves to get distracted too often leads to today’s mistake. Business Plan Mistake # 8 Activities Not Tied to Goals Your goals, once established, form the basis of other decisions. If your goal is to double sales in three years, your plan must include an explanation of the resources required to...
read moreBusiness Plan Mistake # 7 No Meaningful Goals or Milestones
A business plan is more than just a financial spread sheet which tells you where you will end up, must include the milestones which help you all along the way see you are headed in the right direction. Business Plan Mistake #7 No Meaningful Goals or Milestones A good business plan outlines your goals. Take a good look at your company’s potential for growth. Your goals should be challenging but attainable. Goals also should be specific and measurable. These quantifiable targets give you something to work toward and measure your progress against. Finally, goals need to be time based. Do you...
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