Page 43 - Business Plans that Work A Guide for Small Business

34 • Business Plans that Work

can go right, whereas nonentrepreneurs immediately identify what can go
wrong. The purpose of the business planning process is for you to identify
what can go right, and then take steps in that direction.

Readers’ Assessment and Exercising Your Entrepreneurship Quotient

Go back to the Lazybones Quick Screen. An assessment of Dan’s Quick
Screen exercises your entrepreneurship quotient (EQ). How would you
rate each criterion? We recommend you use a colored pen to highlight
your ranking versus ours. Do you see Dan’s prospects differently than
he does? If so, why? Do you think franchising is the best way to grow
the business? What are the trade-offs in this approach? For your own
idea, make copies of the Quick Screen and have team members separately
evaluate and rank criteria. These separate rankings create the foundation
for a team meeting that allows individuals to articulate their understand-
ing of the opportunity. Debate the merits of different rating opinions.
The result is a consolidated Quick Screen. Date that document and begin
creating an opportunity audit trail. You might want to visit our Web
site at http://businessplansthatwork.groupsite.com and use our electronic
Quick Screen.
Many readers will disagree with Dan’s assessment. Some will be criti-
cal and point out what can go wrong. Because there is no such thing as
a perfect opportunity the flaws are the easiest place to start. That’s okay
but not sufficient to move an opportunity forward. For each problem
offer a solution. At least map the activities you’ll need to do to move
the assessment closer to the “Go” position. For example, look at Quick
Screen under the “Market- and Margin-Related Issues.” Dan needs to
decide what kind of training franchisees need. If you were to become a
Lazybones franchisee, what kind of training would you want? How much
do you think it would cost Dan to provide that training? What other types
of support would you expect before you would buy a Lazybones fran-
chise? Then go beyond the criticism and brainstorm about what might go
right. How will good things move the Quick Screen evaluation and create
value?

Venture Checkup and Thinking Big

The tenacious entrepreneur will shape her idea and logically move the
Quick Screen ratings toward the “Go” conclusion. But you have to