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Report Catalogue Data

  Report Class   General Public Report
  Analysis Type   The Entrepreneur
  Issue Category   New Venture Development
  Release Date   02_23_2009
  Last Update  
  Reference Code   GPR-TE.NVD.ME-20090223-VDP
Mind of the Entrepreneur
Vision Development Planning


Naturally, this task of Vision development planning is performed as a follow up on the vision analysis by which a critical optimal path is determined and adopted as the path to be followed to make manifest the vision of the entrepreneur. However, this task is often not performed enough by entrepreneurs but should be for a preliminary assessment of the actual complexity of the development of the venture associated with adopted  vision path. 

Admittedly, the issue of viability of a venture is determined by its capability, based on its competitive posture, to support market participation. All business is Marketing [or market Participation]--so the saying goes; and Sales simply is the face-to-face component or aspect of Marketing: The straight fact is that the object of any vision manifestation is the development of a self-sustaining venture which is accomplished only through the gaining and retention of customers; and to so gain the customers whether or not such already buy the same or similar products from another market participant offering.

Rationally therefore, the competitive arena within which and for which the entrepreneur must develop the venture growth strategic plan also definable as  corporate growth strategic plan for the venture is in Marketing. The object of the strategy is simply to gain customers even if at the expense of the competition. All forms of competition, however, are also based on the concepts of stratagem, hence the entrepreneur must develop the strategy based on the established concepts. These concepts are of course, numerous and deciding on an efficacious strategy is not always very straight forward.

Yet for the purposes of adopting the methods of stratagem, the entrepreneur need to gain some insight into the operating strategy of the competition. This is often done with spies at national levels; however, at the level of business campaigns the use of spies is prohibited by the laws of industrial espionage. Even then an entrepreneur can gain significant insight into the operating strategy of the competition from public information about the competition.

This technique of gathering public-domain information of the competition and decoding the competition operational strategy from such information, termed competitor analysis, is very effective though quite cerebral. Besides, it also requires the collection, critical reading and pattern analysis of the information so collected. Then, of course, there is the need to decode as much as possible the underlying strategy of the competition. Unfortunately, the deciphered strategy is only as accurate as the scope of knowledge of the


 entrepreneur of stratagem, and the currency of the information so gathered, and the pattern recognition ability of the entrepreneur. There is, needless to state, the chance that decoded strategy is completely wrong, and consequentially the counter-strategy developed by the entrepreneur is off the mark.

In any event, the entrepreneur must develop a Grand Strategic Thrust by which the legal entity ultimately created to undertake the venture must support market participation. Effectively, the entrepreneur needs to be knowledgeable in military campaigns in order to develop the base grand strategic thrust. Several strategies are available for achieving this objective, and some of these strategies are, Flank Attack, Leap-frogging, Siege, and Dislocation. Each one has also been extensively reviewed in relation to such war heroes as Attila the Hun, Napoleon Bonaparte, Hannibal and Julius Caesar, among others. Each one comes with its difficulty and advantages,  and whether or not a business owner adopts a specific one depends on the ease of implementation of such strategy with respect to that individual. Necessarily, the entrepreneur must be well-versed in military strategy, and then be able to translate such strategies into business setting.

The strategic plan whatever it may be, the entrepreneur must now reconcile the innovation inherent in the vision with the grand strategic thrust. The approach to developing the innovation consistent with the grand corporate strategy must be developed and the entrepreneur must have a firm grasp of the concept of the innovation to this end. The rationale for this understanding is that the entrepreneur must have a firm understanding of the cost of implementing the vision/innovation; and where the cost of implementing the innovation should prove abortive then the entrepreneur must redesign the grand strategic thrust as to reduce the cost of vision realization to a manageable size. The entrepreneur therefore must have a sense of analysis of the cost of the venture even before he starts. Here then is being imparted an experience. The first step to accomplishing the assessment of the viability of the venture development is the development of an efficacious grand strategic thrust, where the term efficacious includes as meaning the supportability by available funds. of course, assessment of available funds entails the preparation of a skeletal Business Plan on which to determine the funding demands for the various tasks of the venture. 

Developing a Business plan for any reason is fairly a tasking job. As already observed the business plan as is often used means the Growth Tactical

 

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Plan of a company. of course the tactical growth
Plan derives from the strategic Plan. so to write a Business plan the entrepreneur first has to also write a Strategic Growth Plan. This latter Plan, however, is very confidential and must not and can not be revealed to anybody who is not an officer of the corporation. For the purposes of financial negotiations the funding sources may be given the opportunity to view the Plan, but only in the presence of the entrepreneur; and the entrepreneur must also leave the environ with the Plan.

In making this financial needs assessment, the entrepreneur must take the attitude that there can never have too much money available for the support of a venture. The successful undertaking of any venture development suggests multiples of the the amount of funds estimated for the development tasks as determined from the preparation  Pro Forma Financial Statements.

In general, creating cash-cows specifically to venture is essential, and most rational approach to take, although the creating of cash-cows is entrepreneur skill-set dependent, and hence the specific cash-cow an entrepreneur opts for must be based on the skill-set. The need for establishing a cash-cow is based on the understanding that just about every venture usually requires large amounts of funds to effectively meet the associated financial expenses.

These then are the issues an entrepreneur must contend with in constructing a development plan for the venture.

 


 


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