Narrowing the Vision

Last blog post we discussed Carlos Slim and Chuck Blakeman and their different views on business models and planning.  To refresh everyone’s memories Blakeman highlights how not to get focused on the “how” when building a business plan.  “Life happens” says Blakeman and no one can be truly prepared 100% for life’s ups and downs.  Slim on the other hand says that the focus should fall on clear objectives within a given company. The two businessmen, while holding differentiating views both have valuable input that I have tried to implement into my business plan.

Firstly when reflecting on Blakeman’s words I thought of realistically how I can incorporate not worrying so exclusively about the “how.” While there are a lot of different moving pieces that go into a backpack company I do not take Blakeman’s advice as not worrying about how those pieces will fit together.  Rather I think Blakeman is saying don’t worry so much about your big goals but focus on the small ones and the “how” will come together.  For me this means putting a large amount of time in effort into making sure the backpack design and creation process is taken care of.  By doing this the small things will come together to help me reach my end goal which is becoming an industry defining brand.

Secondly I reflected on Carlos Slim’s advice.  Slim highlights the need for clear objectives in a business.  Thus, for my business plan I have gone back and started editing my chapters and goals to help create clearer objectives.  By keeping my brand’s goals and objectives clear and concise it will help create a more focused and streamlined corporate culture.  

On top of looking at my business plan through the eyes of two inspirations I also wanted to lay out the most important aspects of it to my investors.  After looking through the plan I believe the place I will highlight the most will be my distribution chapter.  One of the things that really sets my business apart is that it’s all home crafted backpacks made in America. I’m really going to focus on how my company delivers, creates and packages some of the finest backpacks in the industry.

In the Footsteps of Giants

While an entrepreneur loves to be independent and show the world how they can do it on their own they will always admit to having a hero or two to model their lives after.  While being a lone wolf is great there are many useful tactics and strategies laid by those who have come before that all upcoming business men/women should take note of.  For this week's post I take an in depth look at a couple leader's in the industry who have laid some serious ground work for upcoming business people to follow.

For some great business insight one only has to look at the top of the world's richest list at Carlos Slim.  Slim, known for his mobile empire in Mexico, has some great business tips and insights for those following after him.  Slim preaches a simple business model that revolves around the simple concept that hard work pays off. The Slim business model consists of a few simple markers but one concept he harps on is keeping clear objectives in what your company is doing. The Slim business model consists of a few simple markers but one concept he harps on is keeping clear objectives in what your company is doing. If you want you want your company to be a multi billion-dollar empire then draw out a long term, multi-year goal that lays out how to accomplish that.  Slim teaches that keeping your eye on the prize pays off in the long term.

While Carlos Slim has made his money in a more “traditional” fashion, serial entrepreneur Chuck Blakeman says not to get to hung up on the “how” in your business plan.  “Life happens.” Blakeman states while explaining that no matter how much a person prepares one can never really be 100% prepared for what life is going to throw at them. Blakeman doesn’t say that one should forget the how, he only states that you must be flexible and adapt at a moment’s notice to your industry’s changing environment.  The recommendation is made by Blakeman then that you keep an open mind and let your business take you where it will.  As long as you’re being successful what does the "how" matter?