The One-Hour Business Plan: The Simple and Practical Way to Start Anything New

194 Pages·2013·1.38 MB·English

by  John McAdam

T H E
ONE-
HOUR
BUSINESS
PLAN

T H E
ONE-
HOUR
BUSINESS
PLAN
THESIMPLEANDPRACTICALWAY
TOSTARTANYTHINGNEW
JOHN McADAM
Coverdesign:Wiley
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LibraryofCongressCataloging-in-PublicationData:
McAdam,JohnJ.
Theone-hourbusinessplan:thesimpleandpracticalwaytostart
anythingnew/JohnMcAdam.
pagescm.
Includesindex.
ISBN978-1-118-72622-8(cloth);ISBN978-1-118-74715-5(ebk)
ISBN978-1-118-74714-8(ebk)
1.Newbusinessenterprises-Planning.I.Title.
HD62.5.M38632013
658.1'1—dc23
2013019138
PrintedintheUnitedStatesofAmerica.
10987654321
C
ONTENTS
Setting the Tone ix
Introduction xi
Why These Cornerstones Build the Best
Foundation for Any Business Plan xvi
Module1
What Are You Offering? 1
Create a Value Proposition That Makes a
Stronger Business Model
The Need 5
The Solution 8
Features versus Benefits 10
Advantages 14
Written Exercise: Write Your Value
Proposition 19
Value Proposition Exercise #1—The Value
Proposition Building Blocks 20
Value Proposition Exercise #2—‘‘What Do
You Do?’’ 22
Value Proposition Exercise #3—‘‘What Do
You Want?’’ 24
v
vi CONTENTS
Module2
Who Are You Offering To?
The Customer Target Market 27
The Only Sustainable Source of Business
Funding for the Long Term
Customer Target Market Introduction 29
Market Size: The Addressable Market 31
Customer Demographics and
Demographic Profiles 33
Customer Categories 34
Second-Phase Customers 35
The Customer Target Market Funnel 35
Public Relations 38
Advertising 41
Marketing 44
Sales 47
Written Exercise Preparation 51
Customer Target Market Exercise:
Methods and Lists 52
Module3
Who Are Your Competitors?
Competitive Positioning 55
Viewing Your Offering Through Your
Customers’ Eyes
Competitive Positioning Table Exercise 64
CONTENTS vii
Module4
What’s Next? Next Steps 69
What Milestones and Action Plans
Do for Your Business
Milestone Introduction 72
Business Milestone Definition 76
Essential Elements of a Business Milestone 78
Examples of Business Milestones 79
Milestones in Practice: Sandbagging,
Overstatement, and Balance 81
Action Plan and Goals Defined 84
Milestone Quality Control Check: ‘‘Stiflegoal’’
and ‘‘Stiflestone’’ 86
Milestone and Action Planning Worksheets 89
Module5
How Much Money Will You Make?
The New Offering to Cash Mini-Budget 93
A Simple Way to Predict How Much Money
You Will Likely Make
How Much Money Will Your Business
Model Make? 96
Selling Price 102
Average Sales Cycle Time/Customer
Acquisition Time 105
Unit Sales Forecast 107
viii CONTENTS
The New Offering to Cash Mini-Budget
Worksheet Exercise 112
Conclusion: Pulling It All Together 117
Using Your One-Hour Business Plan
to Earn Customers Today
I Love Beta Users of Innovations
and You Should, Too 127
CEOs and Entrepreneurs Have a Lot
in Common 130
Other Applications of the One-Hour
Business Plan 132
On the One-Hour Business Plan Concept—
Is It a Gimmick? 137
Get Feedback on Your Plan Foundation from
Advisors, Colleagues, and Mentors with
Successful Exits 139
Benefits of Sending Us Your Worksheets 142
Help Us Get the Word Out—This Works! 143
Final Thoughts 147
Acknowledgments 153
Index 159