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Fundamental Wisdom
n.
1. Not just Knowledge.
2. the quality or state of being wise; knowledge of what is true or right coupled with just judgment as to action; sagacity, discernment, or insight.
3. scholarly knowledge or learning: the wisdom of the schools.
In order to effectively utilize a Decision Tree the User needs to have a degree of both Knowledge and Understanding to identify the possible Decision Branches available. In the Following, some of the key information needed to evaluate your need for (or against) engaging in Business Triage are provided...
On Venture Capitalists
At first this seems like a clever idea, get some quick cash to get you over a rough spot, but for the novice it will eventually result in you owning less than 3% of the company you sweated blood to created
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Venture Capitalist Checklist |
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You Don't understand the Legal Power that a Minority Shareholder has over your Business |
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You believe you have calculated how much investment you need from the investor ~ This despite evident to the contrary, which how you got to this position in the first place |
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You Don't understand the Return On Investment (ROI) that a Venture Capitalist expects for their Investment, both in terms of Percentage Growth or Timeframe |
On Sales Staff
Do not make the mistake of ignoring that these people are:
a) CRITICAL to your business making dollar one;
b) Utterly unmanageable through reason, processes or procedures;
c) Hate paperwork
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Sales & Client-Facing Staff Checklist |
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You Don't have a 90 day Sales Forecast |
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Your Client list is still raw data, without weightings |
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You Don't maintain sales activity logs (or worse, you've never heard of them before now) |
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There is no 'Maintenance' Cycle for the Post-Sales/Customer Support Phase of your Product/Service Life-Cycle |
On Product Development
The old joke about how do you get an Developer to release a product is TRUE - You do need to break his/her fingers (metaphorically):
a) Are fixated on being seen as indespensible;
b) Utterly unmanageable through inspiration, passion and imagination;
c) Hate paperwork
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Production/Research & Development Checklist |
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You actually believe the schedule for creating a new Product and/or Service will be met, regardless of how well intentioned your staff are |
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There is no application of the Project Management Triangle - Or worse yet, some trendy (but poorly understood) technique is being used |
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Scope variation occurs after the project build is commenced (sometimes hidden under the guise of Rapid Applications Development) |
On Management
The old addage of 'the Fish stinks from the Head Down' is never more true than in management - The 'flavour' managers you have defines not only success or failure, but whether your dream will survive too
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Manager Checklist |
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You have a crisis manager - but for some reason there seem to be plenty of crisis for him to manage |
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When faced with a Customer Complaint, the manager is a 'pass through' for every comment |
If you can tick any of the checklist ponts, you need to consider getting immediate help for your business!
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