At last week’s lecture on financial planning, I spoke about the basics of building a solid financial plan for your business opportunity. I weaved in lessons I’ve learned as a venture capital investor having reviewed many new business plans. More importantly, I’ve learned a lot from being an entrepreneur and creating plans that help me effectively launch and scale my business and attract the funding necessary to succeed on the global stage.
Financial Plan: What’s your business opportunity in dollars and cents?
ICT business models: Time Warner, Ngmoco, Dow Jones, Apple, Corel
A review of the latest news on business models in digital media. In this post, we looked at Time Warner, Ngmoco, Dow Jones, Apple, and Corel.
Building yourself a better business model
Last Wednesday, at the CIBC Presents Entrepreneurship 101 lecture, we talked about the importance of business models at the early stage of company development and how you need to continuously refine your model to achieve sustainable growth and success in a competitive marketplace. Hopefully through the presentation you learned that having a cool product or service without a well thought-out business model rarely equates to having a great business.
In discussions I had after the presentation, two common themes emerged:
- How to expand your customer base through channel partnerships
- How to build a sustainable business model if you want to offer your product for free to a select customer type.
The hare or the tortoise: Which does most good for society?
At last week’s CIBC Presents Entrepreneurship 101 lecture, we talked about the various types of businesses, including the important differences between social purpose ventures (based on achieving a defined social goal as well as making money) and traditional strictly for-profit businesses.
This begs an interesting question – which model ultimately can achieve the most good?
M&Ms: Paramount for success
M&M’s are critical to a company’s success and I don’t mean the plain or peanut kind! Measurement & Management dashboards are important tools for building sustainable success.
A couple of months ago, Terry Matthews – a great Canadian icon of entrepreneurship – was speaking at a MaRS event about his success model for start-up organizations. Among his top tips: reporting.
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