Introduction to Chapter 3.04 Beginning Execution

Quick Summary: In hindsight, usually carefully developed definitive plans document what did not happen.

Abstract:

The articles in this section discuss the issues that an entrepreneur will surely face once the company is funded and execution of the business plan begins.  The carefully designed business plan can easily begin to unravel and activities can become unscheduled event driven. The key to survival is to respond and not react and understand that this is the new way of life in any business.

The first seven articles in this chapter discuss the only thing that matters: Revenue.  Not only is it the only thing that matters, but also it is the hardest thing to predict. There are almost a countless number of variables that can and will impact it. Some are in the entrepreneur’s control, most are not.  The key is to make realistic assumptions and understand the risks and sensitivities of those assumptions to the overall business.  While revenue activities can quickly become all-consuming, there are a number of other issues that will come up and need to be addressed.  Some of them are included in this chapter and should be considered AFTER a plan for predictable revenue has been implemented.

Chapter Sections and Summaries

  1. Revenue

The pursuit of revenue never stops for every company.  Developing key strategies for its pursuit is dependent on the company’s position and timing.

  1. Performance Pressure

There is a marked transition from “talking” to “doing”.  Think about a sports team that has a well thought out game plan.  Often, the plans must be quickly abandoned when the actual game begins.  The focus quickly changes from planning to actual performance.

  1. Diversions

With the pressure to perform, it is easy to embrace “quick and easy” solutions to unexpected events.  Unfortunately, “quick and easy” seldom is!

Chapter Articles and Summaries

Introduction to Beginning Execution

 

Revenue is the life blood of every organization; focus on it accordingly.

Revenue: The Wonder Drug

 

A continuous, growing supply of profitable revenue is all that matters.

Three Kinds of Revenue

 

Revenue develops in stages; understand where you are and what you want.

Referenceable Revenue: What Others Do

 

It is not what you say that counts; it is what paying customers say to others.

Scalable Revenue: Repeatable by Others

 

After initial orders are received, scaling may require significant changes.

Profitable Revenue: More Than Margin

 

Positive gross margin is only the first element in determining profitable sales.

Distribution is the Only Thing That Matters

 

Identifying prospects and turning them into customers on a large scale can be quite difficult.

Find a Popcorn Business

 

Build a recurring revenue base through anonymous sales that occur without direct engagements.

When Things Go Wrong

 

Do not try to control situations; instead choose how to respond and not react.

The Could Versus Should Trap

 

Creeping feature requests can easily add undue complexity and lengthen the time to market.

Time: Is it a Friend or Foe

 

Break up serial events and address them in parallel to minimize overall cycle time.

Who is Not in the Room

 

With today’s fast pace, it is easy to inadvertently leave people out of critical discussions.

Tiny Goals for Maximum Results

 

Define and focus on very short, easily attainable goals, following the adage of one step at a time.

Ask Someone Who Doesn't Know

 

As they say “you can’t see the forest for the trees”; ask an outsider for help.

Quick and Easy Seldom Is

 

Don’t replace thoughtfulness with speed; rework is always time consuming and expensive.

Selective Scalability

 

As you grow, focus on investing in your core competence and outsource everything else.

Focus And Time: The Almost Unavoidable Landmines

 

It always seems to take longer to receive orders; especially if you are not focused.

Patents: The Reality

 

Patents take time and money; it might be better to focus on other things.

Legal Counsel: Necessary or Evil?

 

Attorneys sell their time, buy it wisely and only when necessary.

Prepare for an Exit When You Start

 

Start a document archiving process on day one to avoid significant lost time searches later.

Article Number : 3.040101   

A Handy Reference Guide for Executives and Managers at All Levels.

9 Volumes 36 Chapters ~500 Articles

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The weight of your world does not have to be on your shoulders.
The articles in this site will help to lift that weight from your shoulders.
Pick an article similar to how you pick a route on a page of an atlas.
There is no need to look at other articles, just as you ignore other pages in an atlas.
It is easy to start a business but it is hard to run. Bumps and unexpected sharp turns in the road are always present.
Others have traveled the road before you; learn from them. This site may help.