One of the most challenging disciplines for entrepreneurs and small businesses is strategic planning and revenue forecasting. Many things make planning hard, not the least of which is fighting the fires immediately around you. In revisiting your strategic plan, step outside the current madness for a minute, and consider this.
Start your blueprint back at the beginning.
Many strategic planning efforts are “save as” versions of previous years. You may calculate a nominal change in the percentage of growth or perhaps forecasting for a flat or decreased year, but your activities remain the same. It’s not enough to move your financial targets without reconsidering the world and your new place in it.
Start with a blank page this year and go back to the fundamentals:
Is your industry or category growing, treading water, shrinking, or potentially becoming entirely obsolete? If your
With just a few weeks to go until one of the biggest product launches in their careers, Jeffrey Katzenberg and Meg Whitman met alone for several hours.
The two veteran business executives, representing the top echelons of Hollywood and Silicon Valley, were suddenly forced to discuss the future of the project they’d worked on — and promoted — almost constantly for the past two years.
Their vision for a game-changing streaming video service called Quibi had raised a stunning $1.75 billion in capital. But their plans never foresaw a pandemic, and when Katzenberg and Whitman sat down in mid-March, the novel coronavirus was beginning to show that it was not a blip. Hospitalizations across the US were increasing; restaurants and schools were closing.
Seth Doane — a CBS news correspondent helming a special version of the “60 Minutes” news program being created exclusively for Quibi — fell ill with COVID-19
Gadgets were supposed to be over. Smartphones, tablets and smartwatches cannibalized the weaker devices around them, including cameras, music players, navigation units, fitness trackers and gaming devices. The few tech products that broke through the noise of crowdfunding sites and the crowded field of start-ups were quickly commoditized and undercut on Amazon.
The stores that dealt in gadgetry — Circuit City, RadioShack, Best Buy — had gone out of business or become glum warehouses for no-fun products. In 2016, my colleague Farhad Manjoo declared a “gadget apocalypse.”
“For 30 or 40 years, through recessions and war, through stability and revolutions, they were always there,” he wrote. Soon, to the horror of enthusiasts and mere consumerists alike, they might converge into a bland rectangularity.
For now, at least, it appears the gadget apocalypse has been averted, due in part to threats of actual apocalypse. Seven months of shattered plans, lockdowns and