A Practical Approach
We take a practical approach to helping entrepreneurs understand and evaluate their business like a potential investor. We take a practical approach to answer the three questions. Our approach guides entrepreneurs through using their goals and dreams to build a monthly plan of customer targets.
Start with your dream/vision
Where or what do you want to be with your business five years from now? This informs your motivation and provides direction to why you started your business in the first place.
Building a plan for the next 24 months
The next question to answer is; In order to reach your 5 year goal/vision, where or what do you need to be in 24 months, how many customers, how many sales? Your answer will be the starting point of our journey with you.
You can see that the answer on the last question leads to many other questions, both quantitative and qualitative as well questions with regards to timing. When will you have your first customer, how much will he or she pay you and when will you receive your money? How much will it cost you to produce the product? Why does this make sense for your customer, how many customers are there? What about competition, business model? How much money is required to finance the venture? Etc., etc. The approach is fully goal oriented. If this is where you want or need to be 24 months from now, this is what is required with regards to activities and money and these are all the questions an investor has (and you should ask yourself).
Our Methodology and Tools
To answer all these questions we use two tools. The first one is THENEXTPHASE Framework, which assist you in a very structured way to answer all the qualitative questions. The other one, the Execution Table, is the basis of your execution planning and will force you to come up with all the quantitative and timing answers.