What Is Venture Planning?
Venture Planning is a personal
assessment of your feelings and the feasibility of a venture.
Venture Planning answers the
question, should I be doing this and why?
Venture Feasibility process examines seven key factors in any
The Founders' Compelling Interest:
The force that drives you.
Customer Opportunities based on
customer wants and needs.
Customer Profiles defines the
target market and potential customers
Venture Concepts evaluates
alternatives to filling those needs.
Financial Resources identifies and
evaluates the financial resources need to pursue alternative venture models.
Entrepreneurial Assessment to find
out if the entrepreneur and the venture are in alignment with respect to
goals rewards, compelling interests and the ventures mission.
Final venture evaluation of
feasibility and comparison of alternatives.
What Venture Planning is not?
It is not about writing a Business
Plan. Sometimes a business plan is not needed.
Venture Planning does not require
detailed funding source analysis, professional opinions, entity formation or
detailed market analysis.
Venture Planning is development of
of comparing various
usually through financial modeling to answer
the six questions.
Venture Formation involves all of the following stages:
Idea - Concept Development -
Venture Development - Monitoring Progress - Initiating New Changes - Venture
Feasibility Analysis -
Business or Operational Plan - Budget vs. Actual -
There are four keys to good
Focus on one venture at a time in
one business area at a time.
Discover the opportunity first, and then evaluate how to exploit it.
Develop three cases good, bad &
likely for each scenario of a venture concept.
Identify what type of venture you
want. Each type has an entirely different model, implementation and
end result. Each demands a different entrepreneurial approach and each
requires different management and style. Do you want:
a Lifestyle Business with $1 million in annual
sales, 1-4 employees and a solo operation?
a Smaller High Profit Business with $1-$20
million in sales, 5 - 50 employees, where partners are required?, or
a High Growth Business with $20-50 million or
more in sales with more than 50 employees, that requires
investment banks and a public company?
Venture Financing: Process and Selection Criteria
11 Keys To a Good First
What To Do After the Feasibility
Study of Numerous Concepts
Pick three of the best with the
"snap" of customer needs and pick the least costly concept.
Decide to go or not. If you
decide to go forward, do a detailed business plan or operational plan and