Business Plans
A lot of entrepreneurs have mixed feelings about business plans. Some see them as useless. Others see them as vital. I was on the fence a few years ago but am now firmly positioned in the opinion that they are vital when talking about a true entrepreneur with a real business. A professional entrepreneur taking on a serious venture is going almost always be involving other people at some point who will have a meaningful stake in the venture’s performance. Unless one is so credible or so suave that a business plan doesn’t matter, then having a business plan to backup other people’s investment of resources in your company is going to help you seal the deal. When creating a killer business plan aimed to convert potential into results, you really want to dig deep down and create something world class.
Corporate Hierarchy vs. Entrepreneurial Heterarchy
Almost all businesses are primarily hierarchical. This means that almost every worker is governed by someone in an authoritative position above them. Picture a pyramid. Ideally, I think this is flawed. A logical alternative to a typical corporate hierarchy would be a heterarchy. A heterarchy is like a peer to peer structure where the people are on the same level. Why not pool everyone together in one big heterarchical group and let policy dynamically create the right virtual separation of people needed to function as a bright, light, and tight system?
Company Knowledge
Knowledge is used for everything and having the best knowledge is worth a lot. The asset of company knowledge is one that is very hard to manage, protect, and leverage. My vision is to have the systems in place to efficiently gain knowledge, record it, disseminate it, and integrate it into the minds of other workers.
Use Bookkeeping Software
If you want to operate a serious business here in the new millennium then you should invest the effort to learn how to run your business procedures through bookkeeping software. Once you get into the habit of using bookkeeping software it becomes second nature.
Business Vital Signs
Modern cars are outfitted with gauges to check its vital signs to ensure that it continues to run properly. Today’s businesses should outfit themselves with adequate information systems so its vital signs can too be monitored and potential problems & opportunities can be seen before it is too late.
