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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
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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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