No two business plans look alike—nor should they. While many small businesses launch without a plan in sight, if you are bent on seeking funding, whether from a bank, angel or venture capitalist, you’ll need a business plan.
This task can be agonizing to some entrepreneurs—who fancy discussions about the big picture—and liberating for others—who spend too many wakeful nights counting sheep. To grow and survive, strategic thinking is essential.
In just 60-seconds, we’ll show you how to plan for your business’s future without over planning yourself out of existence.
When I go on vacation, I take a lot of books with me. I try to make sure that none of them have anything to do with business, but sometimes business lessons come from the strangest places. One of my vacation reads this year was "Famous Last Words" by Jonathan Green. This sometimes funny, frequently poignant compilation of deathbed quotations offers a glimpse at the characters of famous people as revealed by their final words. My favorite (as a business columnist, anyway) comes from showman P.T. Barnum, whose last words reportedly were "How were the receipts today at Madison Square Garden?"
Whatever words you may utter if your business collapses (most probably unprintable in this column), the failure can often be traced back to some "famous last words" you once said, if only to yourself. Here are some painful examples: