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Tag Archives: financial model
What is an angel investor?
Following the launch of the Plains Angels this week, I have had several people ask me what an Angel Investor is. According to the Angel Capital Association: An angel is a high net-worth individual who invests his or her own … Continue reading
Posted in Financial Models
Tagged Angel Capital Association, Angel investor, Angelsoft, Business, Business model, Business plan, Cash flow, Entrepreneur, Executive summary, Finance, financial model, Financial plan, financing your start-up, Investment, Investor, Planning, Revenue, Small business, Start-up, startup, Startup company, Venture capital
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How do I tell you…?
Dear Small Business Owner, How do I tell you? How do I tell you that the tops of all the napkin holders in your restaurant are covered in dried, crusted food? How do I tell you that your email is … Continue reading
Mentors: Why, who, when, and what next
Mentors play an important role in business. Most successful business people I know will attribute some of their success to having good mentors. So what makes for a good mentor? Well, it depends on you. First you have to decide … Continue reading
The business sayings of my father
I grew up the son of an entrepreneur. My father was Bill Colwell. For anyone who was in Waterloo, Iowa in the early 70s you could not miss him. He ran TV commercials on channel 7 every night for Schukei … Continue reading
The paradox of a new idea
Recently I drove by a closed restaurant. It had been a steakhouse most recently. I thought about how tough it would be to compete against the other steak houses in the area and wondered if that was why it … Continue reading
Posted in Financial Models
Tagged Accountancy, Business, Business model, Business plan, Entrepreneur, Finance, financial model, Financial plan, financing your start-up, German, German language, Groupon, Marketing, Marketing and Advertising, Marketing plan, Planning, Restaurant, Small business, Startup company, Steakhouse, Value proposition, Wikipedia, Yahoo
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Do not compete on price, unless…
There was an interesting article about a new start-up company called AutoSlash in the New York Times this past weekend. AutoSlash says they will get you the best price on a car rental by constantly checking for better deals even … Continue reading
Posted in Financial Models
Tagged Business, Business model, Business plan, Car rental, Cash flow, Customer, Entrepreneur, Finance, financial model, financing your start-up, Hertz, Marketing, Marketing and Advertising, New York Times, Planning, Revenue, Small business, Startup company, Transportation, United States, Value proposition, Walgreens
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You get what you measure for
I was taught that saying many years ago. You get what you measure for. If you measure only for profit, you may have fewer but profitable sales. If you measure for sales volume, you may not get the profit … Continue reading
Posted in Financial Models
Tagged Business, Business model, Business plan, Cash flow, Customer, Customer satisfaction, Customer Service, Entrepreneur, Finance, financial model, Financial plan, financing your start-up, Gross margin, Investment, Marketing, Marketing and Advertising, Measurement, Planning, Return on capital, Revenue, Small business, Start-up, Startup company
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New owners are at a disadvantage…don’t make it worse
It is truly a disadvantage to be a new business owner. To start with, you are an unknown to most potential customers. You probably do not have a long list of referral accounts or a line of customers out your … Continue reading
Posted in Financial Models
Tagged Business, Business model, Business plan, Consulting, Entrepreneur, Finance, financial model, Financial plan, financing your start-up, Hiscox, Liability insurance, Marketing, Professional liability insurance, Revenue, Small business, Start-up, Startup company, United States
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“Let’s deal with it later…” No, let’s not.
A guy comes up with a business idea. It is a pretty good idea. He starts working on it. The idea takes hold. Others start encouraging him. Customers begin to say a tentative “yes” to his offer. The guy gets … Continue reading
Make the customer’s life easier. Tell them the price!
Price gets in the way of doing business. For those who have sold for a living, you could probably each write a book about getting around the price issue. Yet for most businesses this is a self-inflicted wound. Today, the … Continue reading
Posted in Financial Models
Tagged Business, Business model, Business plan, Cash flow, Customer, Entrepreneur, Finance, financial model, Financial plan, financing your start-up, Free shipping, Launchpad, Lawyer, Marketing and Advertising, Revenue, Small business, Start-up, Startup company
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The first 10 customers
It is inevitable that a new client will present his or her marketing plan, stating the market size and the percentage of the market they are going to gain. The math may be good but the business plan is not. … Continue reading
What would you tell your best friend?
From time to time, many of my clients come to me with a difficult decision they need to make. They have thought through all sides of the decision and are struggling with what to do. They ask my advice. Do … Continue reading
Fewer words are better
I was recently part of a group speaking to a high level political figure. All of us have a background in business and have negotiated deals and pitched ideas many, many times. Our group met in advance and discussed our … Continue reading
When insanity overtakes reality in the start-up world
Image via Wikipedia There is a point when insanity or passion overtakes reality in a start-up. Here are my top ten indicators this has happened: 10 – The entrepreneur completes their answer to each question with “then BOOM, it happens!” … Continue reading
Posted in Financial Models
Tagged Business, Business model, Business plan, Cash flow, Entrepreneur, financial model, Financial plan, Startup company
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Ban the words “I”, “Me”, “My”, and “We” from your vocabulary
Image via Wikipedia Get rid of these words when you are discussion your product. Replace them with “They”, “The customer”,”The target market”. The hard truth is your opinion does not matter to the customers or the market. In many cases … Continue reading