Business Design is equal parts Discipline and Art. It is a process that rises from the ashes beyond the disruption, uncertainty, and complexity of the pandemic. Business Design & Planning
Overview of this Page: This document serves as a comprehensive introduction to designing and structuring a resilient business in the 21st century, particularly in a post-pandemic world.
Business Design tackles the various aspects of business planning, including feasibility and viability analysis, digital transformation, business model creation, and even considerations when buying an existing business.
At the bottom of this page I provide my contact information and links to information about our business coaching services.
- Business Concept Feasibility, Viability & Analysis: In designing a 21st-century business in a post-pandemic world, it's crucial to examine industry financial health, growth rates, innovation and technology trends, customer needs, shifts in products and services, and uncover opaque business fundamentals. This will help identify new market opportunities and create a hybrid financial and break-even, innovation feasibility profile.
- Current Situation Analysis: In a rapidly changing environment, adaptability and resilience are crucial. This entails investigating market changes, recent shocks, industry financial health and how to deliver value to customers. It will provide a brief snapshot of contingency plans to handle risk, assess profitability and ensure continuity.
- Profitability, Authority & Ethics: In the 21st century, businesses must focus on Profitability and Authority including possible environmental impacts, workplace social ethics while balancing a forward looking corporate strategy. This focus can protect the owner, employees, suppliers as well as spur innovation, create jobs and build brand reputation.
- Digital Transformation, Innovation: The pandemic has necessitated digital transformation, including the use of technology for improved efficiency, enhanced customer experiences, and new business models. Today, a profitable business must incorporate a methodology of innovation, creativity and financial efficacy.
- Value Creation, Business Model(s) & Break-Even Calculation: Businesses need to focus on customer-centricity by understanding their needs and expectations, and delivering value through personalized experiences, innovative solutions, and unique business models.
- Writing The Business Plan includes: Depending on whether you are opening a new business, buying a business, expanding or restructuring your business there are key considerations to consider:
- Before Writing Your Business Plan: you will want to choose a specific focus/purpose of the Business Plan, for example:
- Open A New Business
- Buy An Existing Business
- Attract Seed Capital and Investors
- Recapitalization to Rebalance Healthy Financial Ratios
- Satisfy Requirements To Apply for A Bank Loan or Line of Credit
- Fund An Expansion
- Reorganize A Business
- Find Solutions to Persistent Problems
- Acquire Seed Capital from Investors or Matching Grants
- Expand Product or Service Offerings
- Use It As A Decision Tool To NOT Open/Buy Business
- Recover from a Financial Crisis
- Use It As A Compass for Making Decisions
- The Business Plan will include the following sections:
- Identifying owner, staff and partner skills, talent, experience and roles.
- Define the “problem” the business will solve.
- Identify potential and existing roadblocks.
- Identify market gaps and create unique innovations and solutions to meet and exceed market expectations.
- As applicable, determine technology readiness level (TRL).
- Build business model, systems and a specific go to market plan.
- 3 Year Pro-Forma financial protections.
- Competition analysis.
- Management strategies.
- Contingency and emergency plans.
- Consulting, Coaching & Support To BUY A Business
- Locating a Business To Buy
- Working with Professional Advisors
- Locating An Acquisition Target
- Finding A Business That Fits
- Determining The Value of A Business
- The Goodwill Dilemma, Controversy
- The Art of Business Valuation
- Uncovering Hidden Assets: The Human Factor
- Selling the Seller, Gaining Cooperation
- Buying A Business, Coaching & Support
- Approaching The Seller
- Understanding the Sellers Motives/Fears
- Preliminary Negotiations
- Overcoming Roadblocks & Identifying Deal Breakers
- Finding Solutions
- Due Diligence
- Executing the Deal
- The Transition Plan
Is it better to Start or Buy A Business?
Whether it's better to start or buy a business depends on your personal goals, financial situation, and experience. Starting a business allows for a fresh blueprint and quicker cash flow, but requires a well-crafted business plan to prevent the high risk of burnout.
Buying a business can reduce risk as you're acquiring an established operation and customer base, but it requires careful evaluation of its financial health and potential. The best choice depends on your individual circumstances and preferences.
See the 100+ niche business opportunities on my >> Canada Small Business Opportunities << page.
The Lighthouse Self Study Learning Library
Tips & Tricks for Building Resilient Businesses and Entrepreneurs
You will find 69+ pages of actionable business ideas and strategies that will help you figure out what to do, when. This is your invitation to embrace the process of rebuilding, reorganizing our restructuring your business in a way that is enjoyable, exciting and playful.
Stop, Look & Listen Links
Step 0: Self Reflection Questions
Below you will find a link to “Uncovering the Right Stuff Questionnaire” which is an excerpt from my 384 page Business Planning book (Amazon Kindle purchase link).
It’s 30 questions/answers that will help you get to know yourself and give you some hints of areas you can choose to work on as an entrepreneur. Click the link below to access it.
Step 1: Perspective
The answer to confusion and overwhelm is always to seek clarity. To get clarity you will need perspective.
How To Gain a Fresh PerspectiveStep 2: Your Learning Curve
You cannot spend your way way out of a learning problem, you have to learn your way out.
How To Learn Your Way Out Of Business ProblemsHow Rethink (Reflect & Ponder) Your Business (8 Resources)How To Reinvent Your Business (19 Resources)
Building Resilience Links
Step 3
Feel free to browse the links below and jump ahead to the section where you feel drawn or need to do work.
About Business Coaching
Check out these links about business coaching:Rationale, Logic & Advantage of Having a Business Coach
Business Coaching ServicesCanada Small Business OpportunitiesDesigning A 21st Century Business In A Post Pandemic World
NOTE: at the bottom of some this page and a few others, you’ll find a “Ask Me Anything” form. It is an open invitation to reach out, ask a question and I’ll do my best to answer your query in a timely manner.
Contact Greg Dickson
You can send an email to mainstaybc@icloud.com, text or call me at 1-403-307-8281 or use the “Ask me Anything” Form…