#013 Startup Business Plans - a podcast by Ann Hiatt

from 2021-04-14T16:12:51

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Creating a Business Plan or Growth Plan isn’t just for companies. This episode is for entrepreneurs with ideas who want to know that their hard work is going to pay off within their existing business or in a side hustle or startup. It is also for individuals who want to level up, be seen as a leader, and make a bigger impact. This is about disruptive growth - for yourself, your career and/or your company!


So, how do you know if you are an entrepreneur?


1st - Are you curious? (you like to learn, read, ask questions about topics you know nothing about - not only your strong zones?)


2nd does your curiosity translate to imagination? (are you thinking about new solutions to existing problems?)


3rd do these ideas translate to action? (Do you seek out resources, problem solvers and communities to move you towards results?)


That’s the difference between some with an idea and someone who is an entrepreneur. Are you willing to actually take that action? Are you willing to let go of the familiar and start something new?


I also talk about the golden ratio, from Pablo Rodriguez, for risk taking and investment. If you invest 70% into your core business, 20% into adjacent and 10% into disruptive, the results will be the inverse (when you are persistent): 10% results from your core business, 20% from adjacent and 70% from your disruptive business - don’t forget that the key here is persistence. These results aren’t immediate


Finally, we’ll focus the conversation around three books: Innovator's Dilemma by Clayton Christensen, The Lean Startup by Rick Ries and Blue Ocean Strategy by by W. Chan Kim and Renée Mauborgne.


Curious? Listen now and let me know how you’ve implemented this week’s topic! What big bets have you taken? What rewards have you seen from the risks you’ve taken? I’d love to hear your stories - email me at hello@annhiatt.co


RESOURCES:



  1. HBR podcast interview When Startups Scrapped the Business Plan

  2. Alex Osterwalder’s Business Model Canvas http://alexosterwalder.com/



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