Table of Contents

Introduction xi

Why These Cornerstones Build the Best Foundation for Any Business Plan xvi

Module 1

What Are You Offering? 1
Create a Value Proposition That Makes a Stronger Business Model

The Need 5

The Solution 8

Features versus Benefits 10

Advantages 14

Written Exercise:  Write Your Value Proposition 19

Value Proposition Exercise #1—The Value Proposition Building Blocks 20

Value Proposition Exercise #2—‘‘What Do You Do?’’ 22

Value Proposition Exercise #3—‘‘What Do You Want?’’ 24

Module 2

Who Are You Offering To?

The Customer Target Market 27
The Only Sustainable Source of Business Funding for the Long Term

Customer Target Market Introduction 29

Market Size: The Addressable Market 31

Customer Demographics and Demographic Profiles 33

Customer Categories 34

Second-Phase Customers 35

The Customer Target Market Funnel 35

Public Relations 38

Advertising 41

Marketing 44

Sales 47

Written Exercise Preparation 51

Customer Target Market Exercise: Methods and Lists 52

Module 3

Who Are Your Competitors? Competitive Positioning 55
Viewing Your Offering Through Your Customers’ Eyes

Competitive Positioning Table Exercise 64

Module 4

What’s Next? Next Steps 69
What Milestones and Action Plans Do for Your Business

Milestone Introduction 72

Business Milestone Definition 76

Essential Elements of a Business Milestone 78

Examples of Business Milestones 79

Milestones in Practice: Sandbagging, Overstatement, and Balance 81

Action Plan and Goals Defined 84

Milestone Quality Control Check: ‘‘Stiflegoal’’ and ‘‘Stiflestone’’ 86

Milestone and Action Planning Worksheets 89

Module 5

How Much Money Will You Make?

The New Offering to Cash Mini-Budget 93
A Simple Way to Predict How Much Money You Will Likely Make

How Much Money Will Your Business Model Make? 96

Selling Price 102

Average Sales Cycle Time/Customer Acquisition Time 105

Unit Sales Forecast 107

The New Offering to Cash Mini-Budget Worksheet Exercise 112

Conclusion: Pulling It All Together 117
Using Your One-Hour Business Plan to Earn Customers Today

I Love Beta Users of Innovations and You Should, Too 127

CEOs and Entrepreneurs Have a Lot in Common 130

Other Applications of the One-Hour Business Plan 132

On the One-Hour Business Plan Concept— Is It a Gimmick? 137

Get Feedback on Your Plan Foundation from Advisors, Colleagues, and Mentors with Successful Exits 139

Benefits of Sending Us Your Worksheets 142

Help Us Get the Word Out—This Works! 143

Final Thoughts 147

Acknowledgments 153

Index 159