Entrepreneur Straitjacket


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Entrepreneur Straitjacket

  1. 1. The Business Plan - Entrepreneurs Straitjacket Business PlanningThe Business Plan- EntrepreneursStraitjacket
  2. 2. The Business Plan - Entrepreneurs Straitjacket Business PlanningFor strategic insights on how you can develop a business plan that will get you thefunding and business support you deserve, Click here.This is the 6th article in a continuing series of TheBusiness Plan for Small and Mid-Sized Companies.By definition, the entrepreneur is a person who habituallycreates and innovates to build something of recognizedvalue around perceived opportunitiesMuch has been written about the independententrepreneurs behavior and management style; -visionary, confident, dedicated, determined, focused, selfreliant, intuitive, impulsive, and yes, "shoot-from the hip"and "fire, ready aim", has generally exemplified the recentcontemporary entrepreneur.There have always been questions surrounding theentrepreneurs management style and response tooperational adversities.
  3. 3. The Business Plan - Entrepreneurs Straitjacket Business PlanningDuring the 30 years as hands- on operating manager andBusiness and Marketing Planning Consultant, I spentconsiderable time working with and consulting to a rangeof entrepreneurs, in start-up situations and in ongoingoperating organizations.I have concluded that entrepreneurs are more amendableto develop a Business Plan when "courting" startupfinancing; due to the restraints of most start up financingresources, i.e. venture capital, banks, SBA etc.In these situations, my start-up entrepreneurs wereextremely bright, articulate and driven. But in myexperience, they tended to "resist or fight" the necessaryplanning process structure in favor of "jumping right in"with their "quick fix" product and market solutions,oftentimes, negating the more deliberative process.On the other hand, I have been privy to and involved withentrepreneurial run companies in their growth andmaturing phases, when suddenly beset by externalenvironmental forces beyond the entrepreneurs control,,(i.e. competition, economic slowdown, technological
  4. 4. The Business Plan - Entrepreneurs Straitjacket Business Planningimpacts, etc). literally shocked their "my way"management style and culture.To an outsider, it would be obvious that the entrepreneurmanager should be flexible and immediately adapt theprevailing "best practices" tools available to deal with thechanging environment. Logic would certainly dictate that.However, I found, in several instances that theentrepreneur manager further stiffened his resolve in thestereotypically mindset and behavior of the entrepreneur.In these circumstances the individual determined not togive up control, became too obsessed with day to daydetail management stifling creativity and diluting staffmorale. And responded with alarming "shoot from the hip"tactics.Fortunately, it took an external force to intervene anddemand that a Business Plan be prepared to rapidlyreverse the situation. In this case, a member of theoutside Board of Directors demanded and received thenecessary cooperation.
  5. 5. The Business Plan - Entrepreneurs Straitjacket Business PlanningIn retrospect, it is not surprising, with entrepreneurmanagement, at the helm guiding the "rocket ride" in afast track, high growth company; to be unable or unwillingto prepare for a sudden onset of adversity; for theentrepreneur business model mindset was up and up andup.In todays uncertain economic environment caused by theRecession, the next wave of entrepreneurs must rethinktheir personal objections to the guiding principles,processes and practices of developing a Business Plan forSmall Business to take their business to the Next Level.I have long thought that the Business Planning Processwas the mothers milk of "overcoming adversity". For strategic insights on how you can develop a business plan that will get you the funding and business support you deserve, Click here.
  6. 6. The Business Plan - Entrepreneurs Straitjacket Business PlanningBernard C. Steiner is an independent (B2B) Planning Consultant specializing in developing andwriting Strategic Business and Marketing Plans for clients. He has over 30 years as a "hands-on"Operating Manager and as a B2B Business and Marketing Planning Consultant. Bernard holds aDegree in Electrical Engineering (BEE) and a Masters in Marketing (MBA).http://www.bcsplanningconsulting.com917-686-8251Article Source:http://EzineArticles.com/?expert=Bernard_Steiner