Business is Like Boxing
As Mike Tyson so eloquently stated, “Everyone has a plan until they get punched in the mouth.”
Yes, as funny as it may seem, we just called Mike Tyson’s quote “eloquent.”
Why? Because it’s true and well said.
Mike Tyson’s statement is as true in business as it is in boxing. In case you didn’t know, business IS the REAL boxing ring. You train, make plans, bob around, and get worn out (or knocked out!) by opponent forces. It happens. And guess what? It is what it is. That’s part of the journey of a startup business. What we do at TPM Focus is help you minimize all the bobbing and swerving so you are not worn out before meeting your goal. Or at least you will make adjustments gracefully and strategically while making it all appear effortless to those around you.
“Now I know why you gave me this _________ to start. I can actually get my thoughts down and make sense of everything I should consider.” — Exact words from a TPM Focus Client
Can you guess what should be filled in the blank?
Here’s a hint: It’s something that we use in building tech startups (but for some reason, no one shares this information with the non-tech business community….WE DO!).
Here’s another hint: It’s used in conjunction with an old concept that was polished off and renamed by Eric Ries. He wrote a book called “The Lean Startup.”
Here it is: The tool we use for startup clients is called the BUSINESS MODEL CANVAS.
The business model canvas is the quick and dirty way to get your business idea sketched out so it makes sense. It forces you to think through aspects of starting a business, step-by-step, without getting bogged down writing a formal business plan. Most people will tell you that you need to create a business plan. In case you don’t know our thoughts about this, here’s the post we wrote about that. In summary, business plans are a waste of time for most businesses, especially in the early, idea stage. Depending on what you’re doing, you may never need to write one at all.
Flexible Business Startup Strategy
Utilizing the business model canvas helps you systematically research and test out your idea, preventing you from wasting a lot of time and energy going in the wrong direction. The truth is that you will need to tweak your original business idea or scrap it all together once you do some experimenting and testing the market. Completing the business model canvas and making adjustments to that, helps you remain flexible and open to changing things around as you learn what works and doesn’t work for your business. Your business startup strategy should be agile. Some things will be made up as you go along.
Have you previously heard of or used the business model canvas? Although it’s a common tool used in building tech companies from ideas, we’ve made it our mission to let every entrepreneur in on “the secret.”
Use this link to download your copy of our proprietary, new and improved, Business Model Canvas.
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