Don’t Lose Your Way: The Importance of the Business Development Process

How can BAM companies avoid losing their way? On the one hand, many BAM startups lose momentum, fail to break even, or simply get aborted. On the other hand, some BAM companies that reach financial success find themselves in danger of losing sight of the non-financial goals and objectives that led them to start their BAM venture in the first place. Although there are as many different reasons for BAM failure as there are struggling, closed, or misdirected BAM companies, I believe there is a common antidote to keep companies from getting off track: an ongoing rigorous business development process.

What happens to a company in the absence of an ongoing rigorous business development process? It then becomes a challenge to grow or lead the business forward in a way consistent with its BAM vision, goals, and objectives. This is often the result of two common business development failures:

1. The leader failed to articulate a sustainable BAM vision and robust strategy to begin with.

2. The leader failed to execute against the strategy and has not been held accountable to it.

The good news for BAM practitioners is that there are plenty of resources available to help with the first challenge – and putting together the right team and structures can help overcome the second. Read more

Business as Mission: Chronos and Kairos

by Mats Tunehag

Originally published on MatsTunehag.com, reposted with kind permission.

Business as Mission, BAM, is not a technique. It is a worldview and a lifestyle. It is about following Jesus in the marketplace – to the ends of the earth; loving God and serving people through business.

  • BAM is not doing business with a touch of ‘churchianity’
  • BAM is not Christians just doing social enterprise.
  • BAM always considers God as a stakeholder who has a vested interested in multiple bottom lines and multiple stakeholders.
  • BAM must be underpinned by a Biblical worldview, informing our planning, operations and evaluation.

One very important aspect of worldview is time. This has implications on what we can do and what God does. Read more

Good Questions to Ask Yourself When Considering a Business

Choosing a Business:

What do you like to do? If you are enthusiastic about a particular business, it will help keep you going in the tough times.

What do the local people need or want? Go to your proposed location and live there for a while.  Talk to people.  No business will succeed unless there is a felt-need in the potential customer base and you must understand that need, it may be different than you think.

Can you make money at this business? Look at how much you can sell your product or service for and how much it costs to produce or provide it.  Typically you have to sell something for twice what it costs you in order to stay in business. Don’t give your product and services away, you’ll go out of business quickly and it helps no one in the long-run.

This is not an easy process – 80% of all businesses fail before five years. Read more

The Story of a Business Plan [Audio]

How do others actually go about business planning? What does it look like in practice to integrate Kingdom and Business goals into a planning process? Listen to this 20 minute interview with business owner Steven Sauder as he shares his story of developing a business model in Thailand and mapping it out in a business plan.

Poppy Jasper interviewing Steven Sauder for The BAM Review

 

 

Don’t Miss This: Essential Preliminary Research for a BAM Company

We asked our team of BAM experts to give some practical advice for BAM practitioners in the beginning stages of business planning. For this post we asked them to share ideas about developing goals and vision.

Robert Andrews, Larry Sharp and Garry all actively mentor frontline BAM companies – as well as teach and write on BAM. Read more about them below.

What kinds of preliminary research or on-ground preparation would you emphasise as particularly important to someone planning a BAM company – especially in a cross-cultural context?

Robert Andrews

A business plan is intended to help you work through the key issues you will face in running your business and should include all of the factors that have critical importance. It should addresses the design of the product, distribution, manufacture, finance, marketing, purchasing, and capitalization. It should also address how all of these business functions fit in to the work God is doing. Read more

5 Resources to Jumpstart Your Business Planning Process

You may have a business idea but are feeling a bit lost on what to do next. Creating a business plan is a great way to get started. There are loads of useful tools and articles to read as you walk through this process. Here are a few to help you get started crafting a great plan:

The 6 Key Components Of Writing A Business Plan – Forbes
Sometimes entrepreneurs create business plans just to tell their investors they have one. Instead you need to think critically about how your business will work so you have good answers for yourself and your stakeholders.

A Standard Business Plan Outline – Bplans
It’s not exciting or flashy but this outline covers all the bases you need when putting your plan together. You can look at the brief descriptions as well as drill down into detailed explanation for each component.
Read more

Startup Planning Questions: Discovering your Business Model

by Larry Sharp

This is Part 2 of a two-part post, read Part 1.

What is the business model?

I have always found that plans are useless, but planning is indispensable.
– General Dwight Eisenhower

I am not a big fan of complex business plans in the early stages, but prefer to develop a business model typical of the lean start-up strategy.1 Don’t get me wrong – proper plans are necessary in time especially to qualify for a business loan or to record key research, but at an early stage I prefer modeling that is hypothesis driven. This mind-set should be intuitive to the entrepreneur and be at the heart of the consultant’s strategy.

Business founders should begin with a search for a business model which is driven by a hypothesis which can be tested in the marketplace of customer need. The model canvas contains a series of theories or good guesses which must be tested. These are sketches of how the company anticipates creating value for the customer. Read more

Startup Planning Questions: What to Do Before the Launch

by Larry Sharp

 

What is the opportunity?

By failing to prepare, you are preparing to fail.
– Benjamin Franklin

IBEC’s first consultant and later CEO, Ken Leahy drilled into me, “You do not have a business if you do not have a customer”. Since then the key question for me is to identify a meaningful business opportunity early on. Vision is important, but it cannot be the key component at the beginning. Do you have a customer? What is the problem to be solved? The answer can be derived from research and counsel, but it is important to determine the need for the product before moving too far toward planning and product development. Some call this the value proposition and it articulates why customers need the product or service. With no need, customers will not pay, and without sales, there is no business.

A couple planning to start a business in a large Asian country came to us with an idea. They planned to make wedding dresses in the country at a low cost and market them in the USA for considerable profit. The idea sounded good to everyone they discussed the idea with. Fortunately, they retained a consultant who pushed them in the direction of robust research and analytics. The day when everyone realized there was no ‘business opportunity’ here, there was sadness and tears – it seemed to be the death of a dream! Read more

How Can We Plan for Spiritual Impact?

Once a month, our panel of mentors answer your practical business questions. Send us your questions!

 

Dear BAM Mentor,

How and when do I go about my spiritual impact plan? Do I write this at the same time as my business plan? Any practical advice about writing an integrated plan?

~ Perplexed Planner

Dear Perplexed,

Talking about having a Spiritual Impact Plan (SIP) can be a controversial topic. One response that comes back loud and clear when discussing this is, “How can you plan for the work of the Holy Spirit?” There is some truth in this – how can we know what the spiritual outcomes are going to be? We certainly have more control over the inputs. Jesus himself, in Matthew 28:19, told us to do several specific ‘input activities’: go, make disciples, baptize in the name of the Father, Son and Holy Spirit, and teach. Before doing any of these things we are surely expected to use our heads and think about how best to do them based on our own and the company’s  talents and abilities, our personal and corporate circumstances, the cultural situation we find ourselves in and the overall business goals the company has. Thinking about these things and writing them down is, in essence, a Spiritual Impact Plan. While it is the Holy Spirit that has control over the outcomes, we do get to work alongside and co-labour with the Lord. Therefore, this SIP should perhaps more accurately be SIDTOP – Spiritual Inputs with a Desire Towards Outputs Plan – just kidding! Seriously, planning is absolutely something you should be thinking about, including the spiritual dimension. Otherwise, why are we doing the BAM thing? Read more

How to Develop a Vision and Goals for Your BAM Company

We asked our team of BAM experts to give some practical advice for BAM practitioners in the beginning stages of business planning. For this post we asked them to share ideas about developing goals and vision.

Mats Tunehag, Larry Sharp and Garry all actively mentor frontline BAM companies – as well as teach and write on BAM. Read more about them below.

What advice would you give a new BAMer about developing a vision and mission plus goals/objectives for a company?

Larry Sharp
I am not so big on ‘vision’ initially (though it ultimately is important) but I am more interested in ‘opportunity’. Is there an opportunity to sell a product or provide a service? Is there an opportunity to reach a people group with discipleship? Is there an opportunity to transform a community? I would start there and when answers emerge, a vision and purpose should be articulated – and from there some goals for reaching the vision.  Then I would bounce my ideas on the vision – purpose – goals continuum off of some experienced BAMers. I have had many long-time BAM practitioners tell me that they welcome people to “come and see” and ask questions.

Mats Tunehag
Remember that BAM, is not a technique. It is a worldview and a lifestyle. It is about following Jesus in the marketplace – to the ends of the earth – loving God and serving people through business.

BAM is not Christians just doing social enterprise. BAM always considers God as a stakeholder who has a vested interested in multiple bottom lines and multiple stakeholders. Read more