| This is the 6th article in a continuing series of The | | | | technological impacts, etc). literally shocked their "my |
| Business Plan for Small and Mid-Sized Companies. | | | | way" management style and culture. |
| By definition, the entrepreneur is a person who | | | | To an outsider, it would be obvious that the |
| habitually creates and innovates to build something of | | | | entrepreneur manager should be flexible and |
| recognized value around perceived opportunities | | | | immediately adapt the prevailing "best practices" tools |
| Much has been written about the independent | | | | available to deal with the changing environment. Logic |
| entrepreneur's behavior and management style; - | | | | would certainly dictate that. However, I found, in |
| visionary, confident, dedicated, determined, focused, | | | | several instances that the entrepreneur manager |
| self reliant, intuitive, impulsive, and yes, "shoot-from the | | | | further stiffened his resolve in the stereotypically |
| hip" and "fire, ready aim", has generally exemplified the | | | | mindset and behavior of the entrepreneur. In these |
| recent contemporary entrepreneur. | | | | circumstances the individual determined not to give up |
| There have always been questions surrounding the | | | | control, became too obsessed with day to day detail |
| entrepreneur's management style and response to | | | | management stifling creativity and diluting staff morale. |
| operational adversities. | | | | And responded with alarming "shoot from the hip" |
| During the 30 years as hands- on operating manager | | | | tactics. |
| and Business and Marketing Planning Consultant, I | | | | Fortunately, it took an external force to intervene and |
| spent considerable time working with and consulting to | | | | demand that a Business Plan be prepared to rapidly |
| a range of entrepreneurs, in start-up situations and in | | | | reverse the situation. In this case, a member of the |
| ongoing operating organizations. | | | | outside Board of Directors demanded and received |
| I have concluded that entrepreneurs are more | | | | the necessary cooperation. |
| amendable to develop a Business Plan when "courting" | | | | In retrospect, it is not surprising, with entrepreneur |
| startup financing; due to the restraints of most start up | | | | management, at the helm guiding the "rocket ride" in a |
| financing resources, i.e. venture capital, banks, SBA etc. | | | | fast track, high growth company; to be unable or |
| In these situations, my start-up entrepreneurs were | | | | unwilling to prepare for a sudden onset of adversity; |
| extremely bright, articulate and driven. But in my | | | | for the entrepreneur business model mindset was up |
| experience, they tended to "resist or fight" the | | | | and up and up. |
| necessary planning process structure in favor of | | | | In today's uncertain economic environment caused by |
| "jumping right in" with their "quick fix" product and | | | | the Recession, the next wave of entrepreneurs must |
| market solutions, oftentimes, negating the more | | | | rethink their personal objections to the guiding principles, |
| deliberative process. | | | | processes and practices of developing a Business |
| On the other hand, I have been privy to and involved | | | | Plan for Small Business to take their business to the |
| with entrepreneurial run companies in their growth and | | | | Next Level. |
| maturing phases, when suddenly beset by external | | | | I have long thought that the Business Planning Process |
| environmental forces beyond the entrepreneurs | | | | was the mother's milk of "overcoming adversity". |
| control,,( i.e. competition, economic slowdown, | | | | |