There’s nothing magical about business planning. At its core, it involves thinking through who your target customers are, how your proposed venture will profitably address their needs better than the competition, how you will communicate with these customers, and where you plan to get the funds to start it all up.
Starting a Business
Starting an LLC in Wyoming might seem overwhelming financially, but let’s walk through the process and break down the costs to show that it can be surprisingly affordable. Despite what you might think, setting up a business entity in Wyoming doesn’t have to drain your wallet. It’s actually a smart, budget-friendly step for budding entrepreneurs. …
Hey there! Excited about setting up a Limited Liability Company in Illinois? You’ve landed in just the right spot. Before diving in, though, it’s crucial to understand the financial aspects. From the get-go, you’ll encounter fees for filing, plus ongoing costs to keep your LLC in tip-top shape. This guide will clarify the expenses involved …
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Guest post from Jack Hoban. What are Values? According to the dictionary, values are “things that have an intrinsic worth in usefulness or importance to the possessor,” or “principles, standards, or qualities considered worthwhile or desirable.” However, it is important to note that, although we may tend to think of a value as something good, …
Many people are used to reading or hearing of the moral benefits of attention to business ethics. However, there are other types of benefits, as well. The following list describes various types of benefits from managing ethics in the workplace. 1. Attention to business ethics has substantially improved society. A matter of decades ago, children …
Rental properties are a great way to earn income either full-time or on the side. However, some states are better than others regarding returns on these types of investments. This article looks at the 10 best states to buy investment property this year (and the worst states for real estate). 1. South Carolina One of …
Business ethics in the workplace is about prioritizing moral values for the workplace and ensuring behaviors are aligned with those values — it’s values management. Yet, myths abound about business ethics. Some of these myths arise from general confusion about the notion of ethics. Other myths arise from narrow or simplistic views of ethical dilemmas. …
Developing strategy takes time and resources. It requires the time and commitment of some of the most highly paid and highly experienced people in your organization. So, if your team isn’t willing to invest what is needed, I recommend that you don’t do it. Poor planning is often worse than no planning at all. So, …
How One Typical Facilitator (Mistakenly) Concluded the Client Wasn’t Doing Strategic Planning I got a call last week from a facilitator, asking for advice about an aspect of strategic planning. He kept asserting that his client, a manufacturer of outdoor recreational equipment, wasn’t doing strategic planning. I asked how he came to that conclusion. He …
Complete Business Planning Guide with Extensive Resources Copyright Carter McNamara, MBA, PhD. NOTE: Your business plan should be highly customized to your current organizational situation. Thus, using a generic business plan template could completely misrepresent the needed focus of your business plan. (This step-by-step manual is a complement to the topic How to Start Your …
Imagine this: you’re about to launch your dream business, bursting with excitement and ready to make it happen. But then you hit a wall, the mountain of legal paperwork is more daunting than you expected, leaving you wondering where to start. That’s where LLC services swoop in like a superhero! By using online LLC services, …
Rental properties are a great way to earn income either full-time or on the side. However, some states are better than others regarding returns on these types of investments. This article looks at the 10 best states to buy investment property this year (and the worst states for real estate). 1. South Carolina One of …
Are you an entrepreneur seeking valuable insights, inspiration, and strategic ideas from industry experts? Look no further! We have compiled a list of the 32 best business podcasts to help you stay up-to-date with the latest trends, learn from successful entrepreneurs, and grow your business. Whether you’re a startup founder, a small business owner, or …
In the ever-evolving world of entrepreneurship, operating under a fictitious business name, or “Doing Business As” (DBA), can be a smart strategic move. Whether a solo entrepreneur or managing a small business, a DBA allows you to brand your enterprise distinctively. This guide will unravel the intricacies of filing a DBA, equipping you with the …
Are you looking for the best type of business to quickly start your own company and finally ditch your traditional 9-to-5 job? The market is growing and expanding due to changing trends, so if you have the ambition to start a new business in 2023, we’ve wrapped up the five types of business that will …
The world is changing at an unprecedented pace. The advent of new technologies, the rise of the digital economy, and the changing needs of consumers have all contributed to a shift in the business landscape. Entrepreneurs continuously look for innovative, profitable, and profitable business ideas. This comprehensive guide will explore the 127 best businesses to …
Choosing a name for your LLC can be tricky. Ensuring the name reflects your business’s products or services is essential. However, several other factors must be considered when selecting an LLC name. First, you need to follow specific rules for naming your LLC. These rules and requirements vary depending on the state where your business …
Something as small as a business name can have a monumental impact on your success. The right name can bring in more customers than you thought possible, whereas the wrong name can effectively shut you down. Read on to discover how to come up with a business name that sets you apart from the competition. …
In the fast-paced and ever-evolving business world, staying informed about the latest trends, insights, and strategies is crucial for entrepreneurs, executives, and professionals. While numerous sources of information are available, business newsletters have emerged as a popular and convenient way to receive curated content directly in your inbox. These newsletters provide valuable knowledge and save …
Guest post from Jack Hoban. What are Values? According to the dictionary, values are “things that have an intrinsic worth in usefulness or importance to the possessor,” or “principles, standards, or qualities considered worthwhile or desirable.” However, it is important to note that, although we may tend to think of a value as something good, …
Many people are used to reading or hearing of the moral benefits of attention to business ethics. However, there are other types of benefits, as well. The following list describes various types of benefits from managing ethics in the workplace. 1. Attention to business ethics has substantially improved society. A matter of decades ago, children …
Business ethics in the workplace is about prioritizing moral values for the workplace and ensuring behaviors are aligned with those values — it’s values management. Yet, myths abound about business ethics. Some of these myths arise from general confusion about the notion of ethics. Other myths arise from narrow or simplistic views of ethical dilemmas. …
The following guidelines ensure the ethics management program is operated in a meaningful fashion: 1. Recognize that managing ethics is a process. Ethics is a matter of values and associated behaviors. Values are discerned through the process of ongoing reflection. Therefore, ethics programs may seem more process-oriented than most management practices. Managers tend to be …
It’s ironic that a word like “transparency” can have several confusing meanings, even in a business context. While transparency as a concept is often most visible in the realm of social responsibility and compliance, its real benefit is when it’s seen as a business priority. Transparency is about information. It is about the ability of …
What’s an Ethics Management Program? Organizations can manage ethics in their workplaces by establishing an ethics management program. Brian Schrag, Executive Secretary of the Association for Practical and Professional Ethics, clarifies. “Typically, ethics programs convey corporate values, often using codes and policies to guide decisions and behavior, and can include extensive training and evaluating, depending …
As opposed to offering opinions without having all of the background and knowledge, I thought it might be more helpful to start a discussion about the questions: Many people have written that Toyota’s problem was that it sacrificed a core value of safety for profit. To frame the issue this generally is to miss the …
Do companies care about the intent of one’s actions, or just the results? While we think that our intentions should matter, if an unethical action takes place, do we really care why? Let me know what you would do in the following dilemma: Alternative #1 – You are taking care of a chatty 3-year old. …
Imagine this: you’re about to launch your dream business, bursting with excitement and ready to make it happen. But then you hit a wall, the mountain of legal paperwork is more daunting than you expected, leaving you wondering where to start. That’s where LLC services swoop in like a superhero! By using online LLC services, …
Starting a business can be daunting, but the right support can make all the difference. That’s where MyCompanyWorks steps in, specializing in helping entrepreneurs form and manage their businesses. With so many options available, how do you know if MyCompanyWorks is the right choice for you? In this review, we’ll dive deep into the services, …
Are you searching for a reliable registered agent service to keep your business compliant and running smoothly? Look no further! In today’s fast-paced business world, choosing the right registered agent can make all the difference. That’s why we’ve deeply explored one of the industry’s top contenders, Northwest Registered Agent. This comprehensive review will explore Northwest …
Welcome to the thrilling universe of entrepreneurship! Here, dreams ignite, and ideas morph into reality. As a daring and visionary entrepreneur, you’re pumped to launch your next groundbreaking concept. Yet, before rocketing into the business world, there’s a vital step you can’t skip – registering your business with the right service provider. Wading through the …
Running a business means dealing with many documents, from contracts and invoices to tax forms and employee records. Keeping track of and managing these documents can be overwhelming. That’s where Bizee comes in, a document management platform designed to streamline your workflow and simplify managing your business documents. But is Bizee the right choice for …
Do you want to avoid the tangled and bewildering landscape of starting and maintaining a business? ZenBusiness might be your solution. In this review, we’ll explore this inventive platform to see how it aids entrepreneurs and small business owners in easily launching and growing their ventures. Whether you’re looking at forming an LLC, needing registered …
Are you ready to embark on the thrilling entrepreneurship journey but need help determining where to begin? Look no further! We’ve uncovered a hidden gem to help you navigate the world of business formation with ease. In this in-depth Inc Authority review, we’ll explore the ins and outs of this top-tier platform and reveal how …
Welcome to the fascinating realm of Limited Liability Companies (LLCs), where managing your business takes center stage. Imagine this: you’ve decided to embark on an entrepreneurial journey. Now, you face the crucial question of how your LLC should be managed. Should you go for a member-managed structure, where all owners actively participate in daily operations? …
Developing strategy takes time and resources. It requires the time and commitment of some of the most highly paid and highly experienced people in your organization. So, if your team isn’t willing to invest what is needed, I recommend that you don’t do it. Poor planning is often worse than no planning at all. So, …
How One Typical Facilitator (Mistakenly) Concluded the Client Wasn’t Doing Strategic Planning I got a call last week from a facilitator, asking for advice about an aspect of strategic planning. He kept asserting that his client, a manufacturer of outdoor recreational equipment, wasn’t doing strategic planning. I asked how he came to that conclusion. He …
Complete Business Planning Guide with Extensive Resources Copyright Carter McNamara, MBA, PhD. NOTE: Your business plan should be highly customized to your current organizational situation. Thus, using a generic business plan template could completely misrepresent the needed focus of your business plan. (This step-by-step manual is a complement to the topic How to Start Your …
As the strategy leader, you have seven activities to which I recommend you pay close attention to build a strong strategy that has full buy-in and commitment. Gain your team’s commitment and buy-in to the process If your leadership team members are like most with whom I have worked, they are stretched for resources and …
The historian Alfred Chandler of Harvard Business School wrote a seminal book published in 1977 on the history of strategic decision making at the highest levels of Corporate America , including DuPont, General Motors, Standard Oil and Sears Roebuck. The book was called The Visible Hand: The Managerial Revolution in American Business. In this work …
Legal Structures of Organizations Legal Forms and Traditional Structures of Organizations Market Research — Inbound Marketing Planning Your Research Market Research Find and Feed the Feeling Strategizing Understanding Strategy and Strategic Thinking Competitor Analysis Porter’s Five Competitive Forces (Part I) Porter’s Five Competitive Forces (Part 2) Competitive Intelligence Product Planning Product Management E-Commerce Sales and …
The principles of strategy are timeless. The following notes on the essentials of strategy are drawn from the great works of strategy… Sun Tzu’s The Art of War, Napoleon’s Maxims, Clausewitz’ On War. Though dating up to 2,500 years ago, the advice of these strategists is helpful today no matter your competitive landscape, from high …
Far too often, organizations choose the wrong approach to strategic planning. As a result, strategic plans sit untouched on shelves and planners become even more cynical about goals-based or issues-based planning. This occurs especially with 1) new organizations, 2) organizations having many current issues, and 3) organizations having very limited resources. Here’s how to fix …
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There are few topics in strategic planning that generate such diverse and strong opinions as what should be in a mission statement. The statements vary from one-line slogans to multi-page documents. There are few activities that can become such as waste of time as extensive discussions about what words should be in a mission statement …
As demands for Board effectiveness and accountability continue to grow, research and discussions about how Boards might operate differently, continue to grow, as well. There are a variety of new ideas for Board models. Networked Governance David Renz suggests that the effectiveness of governance could be enhanced when we realize that governance can include organizations …
This blog post has been moved to the Business Ethics topic in the Library.
This blog post explores the use of detailed board minutes and the risks of inadvertent disclosure.
Strategy-making begins with an idea. Without a guiding idea there can be no sense of direction. Yet many articles and books about strategy do not address a most important matter: how to generate ideas. To conceive the essential set of ideas that we call strategy, the strategist must understand and master the art of the …
I got a call from an organization that was (as they said) “desperate to finally do good strategic planning.” A Far Too-Common Approach to “Strategic Planning” The previous two times they did “planning,” the organization hired a facilitator and: 1. Got Board members together for one retreat. 2. Word-smithed the words on their mission statement. …
This post examines some of the differences in thinking between managers and directors. It explains how to assist when a novice director needs help in making the required changes to their thinking.