Flawless Launch Podcast

You’ve arrived at the final program in our series. We’ll end our journey by talking about two more vital planning steps to take at least annually, conducting a SWOT Analysis and implementing Risk-Based Thinking. These activities are described in detail and a format for a Risk Matrix is reviewed – available from the Planning Documents in the Flawless Launch website. We’ll also preview the best and most affordable ways to reaching out for help and advice, and becoming a member of organizations that are designed to help businesses thrive.

In today’s program we review the many topics we’ve examined over the past 12 weeks, then begin planning the implementation of the business plan. For those who have listened to each program in the proper sequence, the next steps will be encouraging and motivating. For those who have skipped topics, you’ll find a very strongly worded caution that you should pay attention to!

In this episode we’ll conclude our discussion on Budgets and Cash Flow. You will have been introduced to Zero-Based Budgeting, you know how to create the Initiatives required for planning, you know how to project a simple revenue stream, and you’ll learn how to transfer the spending in each Initiative into the budget format and balance the cash flow based on revenue projections and cash on hand.

In Part 11 of our series we’ll discuss the essentials of cash flow planning and we’ll begin to take your ZBB Initiatives and spread the costs you’ve identified across your budget format in the proper categories and timelines. You can feel as confident as possible with these costs, as long as you’ve applied the logic and process that ZBB affords you. And next week, when we begin to blend all this data with your revenue forecast, you’ll begin to see why I say, “You’ll be in complete control of your enterprise!”

Today we continue discussing Budgets and demonstrate how your ZBB Initiatives are prioritized and illustrated in the final pre-planning stage. Next week, after a brief discussion about cash flow, we’ll transfer all this preplanning to a final budget format, then discuss using your Initiatives as KPIs and decision guides throughout the year.

In this episode we begin introducing a fascinating and powerful budget process known as Zero-Based Budgeting. This process accomplishes a great deal more than simply providing critical financial planning. The process results in a business owner having a far more comprehensive understanding of their business and complete control of their enterprise, including prioritized action items and greatly simplified decision making capability.

If you are like most start-ups, you will need to raise money to get started, or to fund growth before too long.  In this episode we finish discussing important elements of your strategic business plan, then  shift the discussion to fund raising.  There are important are factors to know about the sources and timing for fund raising, and the additional planning needed to make any source feel confident in your ability to succeed – and thus repay their investment.

Today we begin building your “Strategic” business plan, utilizing all the creative ideas you’ve developed thus far in defining your WHY, and Mission and Vision – and your unique business identity - to develop a compelling business name. Plus, we discuss legal forms of business and start outlining every aspect of how your business will operate. Each element feeds the plan that will create your budget and start-up plans in the coming weeks.

If you fail to plan, then you plan to fail. Period. This episode discusses the fundamental elements of planning that must be done in the early phases of a business, the lack of which inevitably leads to failure. However, it’s not just dooms-day sooth-saying, it contains unique strategies that help the entrepreneur better position a business to thrill customers and achieve a greater following … it provides a template for defining ideal customers and leveraging their ideas to test products and markets … and it wraps all these efforts into a cohesive strategy that is fun to produce and easy to maintain going forward. “Voice of the Customer”, a Unique Business Identity, and a Unique Sales Proposition all combine with earlier discussions to begin forming a powerful foundation.

The challenges and issues involved with Buying a business are different than those involved in Starting a business. The skills needed to navigate those challenges are also different, and individuals are more or less adept at solving those differences based on their personal style and strengths. The same holds true for the various challenges faced in Creating and business versus Managing a business. By understanding and acknowledging your strengths, skills and preferences, you can better determine what type of business is likely to provide you with the most satisfaction, as well as the best opportunity to succeed. A brief discussion of the unique challenges involved in inheriting a business is also included.