Premise of this post: Jeremy wrote a nice post today about the boons of starting young and I spent some time this morning advising my sister on writing a business-plan.
A picture says more than a 1000 words
Strategy consists of three components, the financial, the product-market, and the organisational. All are interdependent and when they are in harmony, the chances of success are greatest.
For example, a larger organisation, which is a consequence of a more complicated product-market strategy, will also increase the need for financing, very likely the external kind.
Essentially you have to decide:
- What type of product(s) do you want to launch? What kind of market are you targeting?
- Do you want to be big (less control) or small (more control)?
- Do you feel comfortable with giving away shares of your business to investors?
I created the picture myself, but it was inspired by a graph in the book "Entrepreneurial Finance".
Subscribe to:
Post Comments (Atom)
The 
