Does buying trucks, equipment, even plants make you a businessman

Every generation needs a revolution - an entrepreneurial revolution

Managing a system

In this video, a worker dreamt of buying his own tools and truck so that he becomes self employed.    But the billionaire saw him and advised him that doing so will limit his ability to become rich.  He is limited by his physical self and its better for him to think of system and management so that he can hire other contractors, not lift a hammer and earn more.  It is about managing a system, getting contracts, and getting the profits

So being technically minded knowing how to repair assemble does not make you businessman, but being able to organize all factors:  finance production, marketing can make you rich.

Closing a deal at 6 numbers only, congratulations to the team

Every generation needs a revolution - an entrepreneurial revolution

This follows Peter Thiel truism  -  from zero to one.  Having something from nothing. Pure entrepreneurship.   

But this one required money.  The guy a contractor to whom the deal was passed on two is being egged to move up from being a techie man to be a businessman.  

The team encountered many problems:    1. failed financiang in the beginning  2.  failed financing the second time,   3.  selfish team members. and who are irresponsible -  they failed to deliver their promise of financing twice, and yet made sure that they got their written commitments for packaging fee.  

But finally the deal was done and lately what we heard is that the new CEO is getting  an inquirty for 5 to 20 million investment.   Because of the signed deal.  It is now bankable

I hope he gets this.    

But they have just begun:

1.  Gather docs

2.  Secu re approval from LGU, from NIA, DAR

3.  Condcut pre marketing activities.  

4.  Generate funds

5.  Get plans SDP leaflets, marketing collaterals ready.

6.  Secure ROW docs

7.  Commence some site development

GOOD LUCK MORE POWER TEAM

Go go go

Why do business/strategic plans fail to deliver results

Every generation need a revolution.  One such revolution  is entrepreneurial revolution

From Smartblog on Leadership by Bill French | June 26, 2013

At AGSB, we spend a great deal of time teaching strategic management;  on my part, at Entrep class, we teach students to make business plan (very few master this skill)

However, despite the assumption that the first step toward achievement of goals is writing it down, many business plans/strategic plans fail to produce results (it is dependent on the team, the passion, the communication, the checkpoint that goes with it.  Here are some reasons enumerated:

l.  The senior management has not bought in;

2.  The team is not a team (not collaborative)

3.  The  plan is underfunded;  the plan may be not compelling enough, there is not enough fuel or

logistics to support the plan

4.  Lack of communications;   the contents of the plan is not clear (hence the need for strategy map) and not simple enough to be understood and shared by everyone.   Top management must keep pounding on the table the strategy

5.  Misaligned incentives

6.  Shallow understanding of the customer and environment.   The senior management would not probe deeper into the customer and the knowledge of the facts is mostly tribal (rote) knowledge.  I have seen business plan submitted with little or no data on the customer and the business ecosystem

Read more on Smartblog article on business plans failing  >>>>