Category Archives: Startup and Planning

Why Business Plans Are Bad, But Business Planning Isn’t

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SIBP-Blog-NEW-B-5One of the questions I’m most frequently asked as a business coach is “Do I really need a business plan?” It happens once every few weeks, and I’m asked by surprising variety of business owners, startup founders and soon-to-be entrepreneurs. Unfortunately, I still don’t have an easy answer, and by trying to provide some context for my take on the subject, I’ve gotten something of a reputation as a business-plan skeptic.

It’s time for me to set the record straight: I’m a huge believer in business planning, but I’m not a fan of business plans. If that sounds strange to you, allow me to explain. These two concepts aren’t as closely linked as you might think. Continue reading →

The Profitable Mindset, Part 1: Creating A Clear Path To Profitability

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SIBP-Blog-NEW-B-5Profits are pretty simple to understand. It’s just revenue minus expenses. If you make a lot of sales and manage your expenses well, your business will be profitable. So why do so many entrepreneurs struggle when it comes to creating profitable businesses?

To start a successful business, you need to have a really solid understanding of how your business is going to make money. This means constructing and stress-testing your business model from a profit-focused perspective. Here’s something you might not realize: Most entrepreneurs never bother to do this. Continue reading →

Getting Started With Professionalization, Part 2: Sales, Service and Marketing

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IMG_2329When people ask me about which process in their business they should professionalize first, I inevitably tell them to start with sales. In case you haven’t picked up on it yet, I’m a big believer in sales, and it’s no coincidence that I tend to give it the highest priority. A refined and professional sales process is an asset that will deliver great returns for your over and over again throughout the life of the business.

Why start with sales? Because it’s hard to uproot and replace an entrenched sales system — even one that doesn’t work very well — and every day you wait, the more difficult it becomes. If there’s one thing you want to get right as early as possible, it’s sales. Continue reading →

Crafting A Company Vision Your Employees Can Embrace

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Image source: https://www.flickr.com/photos/joshsamson/

Image source: https://www.flickr.com/photos/joshsamson/

A few weeks ago, I was having a casual business meeting with one of the founders of a company I coach. It’s a great company, growing quickly thanks to a truly dedicated, battle-tested team. Everyone at the company not only understands the vision for the business, but also appear to genuinely embrace it.

Company culture and vision has been on my mind recently, and I was curious how this small startup seemed to knock it out of the park. Most companies struggle to even create a meaningful, clearly communicated vision, and never manage to embed it in the overall culture of the business. What was this startup doing differently? Continue reading →

A Short Story About Startups and Sales

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IMG_2329Let me tell you a story. One of the companies I work with is a small tech startup. About year ago, it was in the same place that many small tech startups find themselves in. They had some early traction, and they were well positioned to be a high-growth company. And, like many early stage companies, they were completely intimidated by sales. Continue reading →

Ep. 058 – Elementary Startup Planning For New Entrepreneurs

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SIB-Blog-3What are the fundamental steps for creating a viable business? What groundwork needs to be laid before any entrepreneur can take their business plan to investors? In this episode, host Tom Ryan strips the business-creation process down to the most basic levels to reveal the core elements of a viable startup.

Tom is on the road this week, requiring a slight change of format from two-person discussion to solo show format. As a result, he’ll be taking on a variety of listener questions. Continue reading →

Ep. 057 – Do You Really Need a Business Plan?

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SIB-Blog-2Are long-form business plans really necessary for every startup? Are they even all that useful? Are there better alternatives? This week, host Tom Ryan takes on this controversial topic, explaining his skeptical view of traditional business plans and offering some other options for fledgling entrepreneurs.

Tom is on the road this week, requiring a slight change of format from two-person discussion to solo show format. As a result, he’ll be taking on a variety of listener questions. Continue reading →

Ep. 049 – What Is Required to Sell and How Much Will It Cost?

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350x350-4The more you understand the economics of your business, the more options you have for controlling your growth and profits. While every company is different, the basic economics of business are universal.

In this episode, host Tom Ryan dissects customer acquisition costs, and explains the most common ongoing expenses. As always, Tom is joined by co-host Jason Pyles. Continue reading →

Ep. 037 – Interview With an Experienced Startup Weekend Entrepreneur – Part 2

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Welcome to Episode 037 of Tom Ryan’s Success in Business Podcast, the weekday show that offers how-to advice for entrepreneurs. This show features the second half of our interview with Brenden Fitzgerald, a former startup weekend winner, who is here to give us some honest advice about how to navigate your way through the amazing opportunity that is the Asheville Startup Weekend. The Asheville Startup Weekend is slated for the weekend of August 28 through August 30, 2015.

During this show, Tom and Brenden talk about Equity Ownership so that going into a team scenario of a startup weekend, you know how to protect your idea and your contributions and identify your role on your team.

Check Brenden’s company: GoWorx which is a team of designers, entrepreneurs, photographers, filmmakers, and action-adventure enthusiasts. They’ve joined together to create performance and lifestyle products fused with innovation, simplicity, originality, and style. They currently design, manufacture, and market mounts and accessories for GoPro HERO® cameras, action cameras, and smartphones. Continue reading →

Ep. 036 – Interview With an Experienced Startup Weekend Entrepreneur – Part 1

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Welcome to Episode 036 of Tom Ryan’s Success in Business Podcast, the weekday show that offers how-to advice for entrepreneurs. This show features an interview with Brenden Fitzgerald, a former startup weekend winner, who is here to tell us what to great things to expect from the Asheville Startup Weekend. The Asheville Startup Weekend is slated for the weekend of August 28 through August 30, 2015.

Check Brenden’s company: GoWorx which is a team of designers, entrepreneurs, photographers, filmmakers, and action-adventure enthusiasts. They’ve joined together to create performance and lifestyle products fused with innovation, simplicity, originality, and style. They currently design, manufacture, and market mounts and accessories for GoPro HERO® cameras, action cameras, and smartphones.

During this show, Tom and Brenden give us a quick overview of how the startup weekend works and how this intense business development and networking experience produces so many great ideas and connections in such a short time! Continue reading →