Tag Archive for: larry sharp

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

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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

Startup Planning Questions: Discovering your Business Model

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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

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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 to Develop a Vision and Goals for Your BAM Company

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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

12 Stakeholders You Should Engage in Your Business Startup

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We asked a team of BAM experts to give some practical advice for BAM practitioners creating business plans. For this post we asked them about key stakeholders in the business planning process.

A stakeholder is anyone with an interest in a business. Stakeholders are individuals, groups or organisations that are affected by the activity of the business. – BBC

Mats Tunehag, Larry Sharp and Garry all actively mentor frontline BAM companies – as well as  teach and write on BAM. We also asked business woman Julia to share about a stakeholder she has found helpful in her business in Mongolia. Read more about them below.

Here are 12 stakeholders they mentioned, there are others:

  1. Investors – owners, bank or investment company
  2. Business people – in companies working cross-culturally in your business or industry
  3. Business consultant – someone with specialist knowledge
  4. Colleagues – management and staff
  5. Customers – those likely to be your clients
  6. Suppliers – of essential materials and services for your business
  7. Community – local society and also the physical environment
  8. Cultural expert – someone with insight into engaging with local community
  9. Government official – someone who can give you insight and be an advocate for you
  10. Body of Christ – local church community, mission organisations and supporting churches
  11. Spiritual advisor or mentor – someone with wise counsel you can be accountable to
  12. God – the most important stakeholder

Read more