The following are the documents you should complete in order of importance
Please select the documents you wish to download
Assumptions
You are sure that a new product or service will work. But have you neglected any underlying assumptions. If you think that there is a huge need for a hairdresser, but everyone in a town cuts their own hair - the assumption that they'd prefer to go to a hairdresser has to be double checked. It would be awful to invest time and money in something that just isn't true. This model makes you think about your business in a different light to double check and also to prevent yourself from thinking that the idea will make millions when thousands is more realistic.
WHY THIS MODEL?: Evaluating your business requires you to look at it objectively.
Risk Planning
How are you going to handle potential risks that could impact your business? You need a plan to handle these and your plan should be ready to implement at the point in time that it becomes necessary. Do not be caught unawares. This modules helps you highlight your risks, prioritize them, and strategic plan to mitigate them.
WHY THIS MODEL?: Now that you have analyzed what is happening out there, plan how you will deal with this.
Choosing Revenue Streams
All businesses have one common driving factor and that is to stay liquid. For small businesses it is the do or die for the company; make enough money to last from month to month or shut down the business. In order to achieve this, most businesses develop multiple revenue streams. Logically, any business owner will tell you to spend your time on the activities that make the most money. So how do you figure out which revenue streams are the most lucrative? The next model will guide you on how to make all of your revenue streams comparable so that you can objectively analyze which revenue streams you should focus your attention on.
WHY THIS MODEL?: The right business model helps you focus on customers that are the easiest for you to reach through marketing channels.
What's the Right Business Model?
Everyone wants to sell directly to the final customer. We are used to seeing consumer packaged goods companies do this, and we are familiar with all of their advertising. We understand this business model, so we think that that is the only way to proceed. But this is not the only business model. And in many instances it is not the best business model. This module is for small business owners who know they have a great idea, but don't know the best way to sell it. You could be an existing company who is looking to expand how they are delivering their current product or service, and changing the business model may allow for growth. Either way, this module will outline the options and help you decide which way to move forward.
WHY THIS MODEL?: This will save you both time and money. There are many ways to deliver a product/service, the right business model makes sure you are selling your product/service the right way.
Competitive Edge
Identifying your competitive edge is not just for the new business owner entering the market. It's for the company with stiff competition in a maturing market that is losing on its average margin and needing to cater to a niche market. It's for the company with a steep decrease in sales that may have lost its focus and needs to offer a new or stronger competitive edge. It's for any business owner who wants to succeed. So what is a competitive edge? Your competitive edge can be anything that makes your company, product or service different and stand out from your competitors. It is the main reason why you are in business. It is the one thing you offer that is better than what is currently available on the market.
WHY THIS MODEL?: Do you still have one leg up on the competition? It is time to double check.
What Should I Spend Money On?
Money: while you cannot underestimate its power you must acknowledge what a strong hold it has on your company and your decisions. If you run out of cash, you are out of business. It can negatively affect your work/life balance by controlling you. It can also positively affect your way of life if you become successful. Knowing how to manage you money is just as important as making it as this next model will show you.
WHY THIS MODEL?: Every penny you save increases the chance of success, so watch the dollars from the beginning.
Risk Analysis
What is out there that could affect your business? A risk analysis is a way to keep track of what is happening with competitors, government, technology, and other fast changing variables. By continuing to monitor these aspects as a small business owner, you can protect yourself as well as seize opportunities that arise very quickly. Both are important reasons to do a risk analysis regularly.
WHY THIS MODEL?:Protect yourself by double checking what is happening around you with governemental regulations.
Competitive Analysis
If you are reading this now, then you are probably a business owner who has been in the business for a while and needs to reassess your competition. You could be trying to brand your product and need to gather foundational information in order to make a good decision. Finally you might be just entering the market and want to determine whether your business has a chance to succeed. It is important not to get blindsided by competition you were not prepared for. For instance, music stores did not account for online music downloads and quickly lost their share of the market due to this. Use the following model to manage your risk and determine your business' advantage by analyzing your competitors.
WHY THIS MODEL?:First thing to do when thinking about how to handle the competition, is to figure out what they are doing.
Cash Flow
Cash is king especially when it comes to small businesses that rarely have the credit line or bailout investors lined up to help them when times are rough. Maintaining a good cash flow management process means tracking how much cash is moving in and out of the business. It can be as simple as watching your bank account balance to being as complicated as figuring out a 12-month projection. Cash flow management is important as there comes a time in everyone's business when they are close to the red line. Without a good understanding of the cash flow situation, it is difficult for a company to make decisions about investments and committing to partners, suppliers, and customers. Use the following model as a basic concept surrounding cash management planning.
WHY THIS MODEL?: How is your bank balance? Are things really going well?
Projecting Sales
Many entrepreneurs leave projecting sales as one of their last steps before writing a business plan or even after they have already started the business. However, it is in good practice to figure out whether there is a market for your business prior to starting up.
WHY THIS MODEL?: Where are your sales? What is the trend for future years?
Do You Need Investors
Does your business need investors? Generally, entrepreneurs do not want to report to others, which is why they started their own business to begin with. Yet simply refusing to find investors is not a smart strategy for your business. On the other hand, being able to recognize when you need investors is smart and will take your company further.
WHY THIS MODEL?: You can look to your partners, mentors, suppliers, and employees for investment.
Time Management
If you are always busy, but never seem to move forward. This module makes you take a look at your day, all the work you do, and it helps you restructure your daily tasks to become more efficient. Time management skills will help you get more done in a day.
WHY THIS MODEL?: Time is money, especially at the start when everything has to be done at the same time.
Assumptions
You are sure that a new product or service will work. But have you neglected any underlying assumptions. If you think that there is a huge need for a hairdresser, but everyone in a town cuts their own hair - the assumption that they'd prefer to go to a hairdresser has to be double checked. It would be awful to invest time and money in something that just isn't true. This model makes you think about your business in a different light to double check and also to prevent yourself from thinking that the idea will make millions when thousands is more realistic.
WHY THIS MODEL?: Evaluating your business requires you to look at it objectively.
Risk Planning
How are you going to handle potential risks that could impact your business? You need a plan to handle these and your plan should be ready to implement at the point in time that it becomes necessary. Do not be caught unawares. This modules helps you highlight your risks, prioritize them, and strategic plan to mitigate them.
WHY THIS MODEL?: Now that you have analyzed what is happening out there, plan how you will deal with this.
Choosing Revenue Streams
All businesses have one common driving factor and that is to stay liquid. For small businesses it is the do or die for the company; make enough money to last from month to month or shut down the business. In order to achieve this, most businesses develop multiple revenue streams. Logically, any business owner will tell you to spend your time on the activities that make the most money. So how do you figure out which revenue streams are the most lucrative? The next model will guide you on how to make all of your revenue streams comparable so that you can objectively analyze which revenue streams you should focus your attention on.
WHY THIS MODEL?: The right business model helps you focus on customers that are the easiest for you to reach through marketing channels.
What's the Right Business Model?
Everyone wants to sell directly to the final customer. We are used to seeing consumer packaged goods companies do this, and we are familiar with all of their advertising. We understand this business model, so we think that that is the only way to proceed. But this is not the only business model. And in many instances it is not the best business model. This module is for small business owners who know they have a great idea, but don't know the best way to sell it. You could be an existing company who is looking to expand how they are delivering their current product or service, and changing the business model may allow for growth. Either way, this module will outline the options and help you decide which way to move forward.
WHY THIS MODEL?: This will save you both time and money. There are many ways to deliver a product/service, the right business model makes sure you are selling your product/service the right way.
Competitive Edge
Identifying your competitive edge is not just for the new business owner entering the market. It's for the company with stiff competition in a maturing market that is losing on its average margin and needing to cater to a niche market. It's for the company with a steep decrease in sales that may have lost its focus and needs to offer a new or stronger competitive edge. It's for any business owner who wants to succeed. So what is a competitive edge? Your competitive edge can be anything that makes your company, product or service different and stand out from your competitors. It is the main reason why you are in business. It is the one thing you offer that is better than what is currently available on the market.
WHY THIS MODEL?: Do you still have one leg up on the competition? It is time to double check.
What Should I Spend Money On?
Money: while you cannot underestimate its power you must acknowledge what a strong hold it has on your company and your decisions. If you run out of cash, you are out of business. It can negatively affect your work/life balance by controlling you. It can also positively affect your way of life if you become successful. Knowing how to manage you money is just as important as making it as this next model will show you.
WHY THIS MODEL?: Every penny you save increases the chance of success, so watch the dollars from the beginning.
Risk Analysis
What is out there that could affect your business? A risk analysis is a way to keep track of what is happening with competitors, government, technology, and other fast changing variables. By continuing to monitor these aspects as a small business owner, you can protect yourself as well as seize opportunities that arise very quickly. Both are important reasons to do a risk analysis regularly.
WHY THIS MODEL?:Protect yourself by double checking what is happening around you with governemental regulations.
Competitive Analysis
If you are reading this now, then you are probably a business owner who has been in the business for a while and needs to reassess your competition. You could be trying to brand your product and need to gather foundational information in order to make a good decision. Finally you might be just entering the market and want to determine whether your business has a chance to succeed. It is important not to get blindsided by competition you were not prepared for. For instance, music stores did not account for online music downloads and quickly lost their share of the market due to this. Use the following model to manage your risk and determine your business' advantage by analyzing your competitors.
WHY THIS MODEL?:First thing to do when thinking about how to handle the competition, is to figure out what they are doing.
Cash Flow
Cash is king especially when it comes to small businesses that rarely have the credit line or bailout investors lined up to help them when times are rough. Maintaining a good cash flow management process means tracking how much cash is moving in and out of the business. It can be as simple as watching your bank account balance to being as complicated as figuring out a 12-month projection. Cash flow management is important as there comes a time in everyone's business when they are close to the red line. Without a good understanding of the cash flow situation, it is difficult for a company to make decisions about investments and committing to partners, suppliers, and customers. Use the following model as a basic concept surrounding cash management planning.
WHY THIS MODEL?: How is your bank balance? Are things really going well?
Projecting Sales
Many entrepreneurs leave projecting sales as one of their last steps before writing a business plan or even after they have already started the business. However, it is in good practice to figure out whether there is a market for your business prior to starting up.
WHY THIS MODEL?: Where are your sales? What is the trend for future years?
Do You Need Investors
Does your business need investors? Generally, entrepreneurs do not want to report to others, which is why they started their own business to begin with. Yet simply refusing to find investors is not a smart strategy for your business. On the other hand, being able to recognize when you need investors is smart and will take your company further.
WHY THIS MODEL?: You can look to your partners, mentors, suppliers, and employees for investment.
Time Management
If you are always busy, but never seem to move forward. This module makes you take a look at your day, all the work you do, and it helps you restructure your daily tasks to become more efficient. Time management skills will help you get more done in a day.
WHY THIS MODEL?: Time is money, especially at the start when everything has to be done at the same time.
