Introduction Flashcards
What qualities make up a good business plan?
Strategies to gain an edge
Blends emotion and logic
Accounts for the 12 business planning blocks
What are the levels of entrepreneurship?
Independent contractor, soul up north, sales rep, employee thinking about starting a business.
Running a small business or a team within the organization of up to two million in revenue
Running a business doing two to ten million in revenue
Running a business doing 10 to 100,000,000 in revenue
Running a business doing 100,000,000+ in revenue
Why is it important to take a self-assessment?
To determine whether or not we are the person that we need to be currently to achieve the goals we sit in our business plan.
What are qualities we should focus on when taking a self-assessment?
Health
Fitness
spiritual
legal
advisors
headquarter’s culture
romance
children
family/friends
List the items in the paradigm shift quadrant.
Soft skills
hard skills
character
paradigm shift
Which items in the paradigm shift quadrant make you more impactful?
Soft skills and character
What items in the paradigm shift quadrant make you more reliable?
Heart skills and paradigm shifts
Describe someone with character.
Someone with character has pride in their work and does what they say.
Describe a paradigm shift moment.
A paradigm shift moment is an event that changes your perspective.
Examples: You lose 100 pounds
you have your first child
you go to a Ferrari dealership and sit in the car
You go to open house in the neighborhood that you want to live in.
List the seven business planning mistakes.
Not sharing it with others
Not being specific enough
Not emotional enough
Not a living document. Not using it to manage operations
Not measurable/too vague or subjective
Didn’t share with the team
Didn’t have someone to hold you accountable to it
Who should hold you accountable To execute on your business plan?
Someone senior to you
Someone who knows your industry or business
If you’re the CEO you’ll need someone from outside the organization. Think this stage, Waipio, a mentor, or a fellow board members.
What two stories should your business plan tell?
A story that validates your point and gets people focused and a story that inspires people it makes them want to work for you.
What head space do you need to be in on a personal level?
On a personal level, you have to be fired up and logical at the same time
What headspace must you be in on a business level?
On a business level, you could have a team ready to run through walls for you, but they need to know which walls and how to run through them.
What are the six business building blocks of emotion?
Will: Need to succeed, heart
Mission: What cause are you correcting? Cause, crusade
Dream: What you’re aiming to get for yourself
Vision: What you want for others
Enemy: Who you want to beat
Culture: People want to run through walls for the
