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Product Section of Business Plan

And then a lot of times a plan depending on the product or the service will at least give an overview of the service or the product itself. So, you know, telling people is it one, you know, this one thing that…

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Second Job Found Through A Cornell…

So I left and actually through a Cornell connection went to the farm credit banking system. I'm not sure what it's called today but production credit and all that in Springfield, Mass., and actually ran their…

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Importance of Financial and…

Don't neglect the financial courses. Take them, understand them if you're going to work with businesses, whether it's your own or others. You've got to know the numbers. Definitely don't forsake the…

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Entrepreneurship is Not a Career

Let me summarize it by entrepreneurship, and you've heard this probably from many different people, but entrepreneurship, it's not a career. It's something you do, it's something that you are, but it's not…

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Thoughts on What It is To Be an…

It's not a profession. It's not a job. You don't grow up when you're 15 years old or 16 years old and say I want to be an entrepreneur when I grow up. It's more a state of mind. It's more just kind of …

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Challenges of Wearing Many Hats in a…

So you keep that in the back of your mind and in the meantime, you try to build an infrastructure in a company. I mean you're wearing lots of hats. You're being the lawyer, you're being the HR person, you're…

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Challenge of So Much Information Being…

You have an incredible amount of information at your fingertips that keeps probably a lot of people out of libraries. So I know you're forced to go in there for certain reasons, a demand or whatever through…

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Importance of Cohesiveness in the…

So make sure that as you're writing this in the various sections that you do go back and look at it as an integrated plan. Okay? That the whole thing has to come together and make sense. And that will help…

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Importance of Not Becoming a Slave to…

But don't become a slave to those objectives too. Sometimes people are so much ingrained into focusing on their goals and objectives only that they lose sight of a lot of the other things that are happening…

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Importance of Taking and Understanding…

Speaking personally, if I had to do it over again in my college career, I would really focus as an undergrad and certainly as a grad student as much on the financial side of things as you possibly can. I hated…

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Undergraduate Experience Will Open…

Most of the time you're probably coming out of school with excellent background, excellent, you know, a great degree from a great school and that's going to get you somewhere. But sooner or later you're going…

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Thoughts on How to Write Management…

Think of the things that are relevant in your life, you know, stuff you did in high school, stuff you did, you know, clubs and sports and captain of this or chairman of this or served on this volunteer group,…

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Importance of Management Team Summary…

An area that banks and everybody will tell you they really zero in on is the management side. And I don't disagree with that. I don't think it's the first thing I go to. Granted a lot of the venture…

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Impact of Financials on the Business…

Certainly look at the numbers. That's important because there's a certain criteria you have in your mind toward the numbers but I have to say also that there are many circumstances related to a business plan…

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Importance of Notes That Accompany…

People will look at the numbers. Yes they'll look at the bottom line. Yes they'll look at the -- whether the rationale is good. But the notes that are connected with the financials, the explanations, people…

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Amount of Operational Detail That…

if you've got a product that you're making or manufacturing or having manufactured, you've got more issues usually than a service business. But on the other hand, I mean you still have operational issues. I…

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First Professional Experience

I left graduate school, had some really nice opportunities and ended up - now I'm going from New Hampshire to Cornell to Colorado and I ended up taking my first job out of school with a company called Marathon…

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Most Recent Professional Background

I made the transition and came back to my home state which is New Hampshire and went with a small consulting firm, became a partner in a small consulting firm where we were not only selling businesses between…

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Risks During a Turnaround

And part of the risk beyond the financial side related to the people is keeping good people. We have to try to maintain a nice work environment here so that people want to spend time here even though they know…

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Importance of Continually Learning…

When you're in a large corporation, you're -- depending on what point you are in your career or even a small corporation, I think one, you're always, or should be at least, in a mode of trying to learn…

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He Doesn't Define Himself as an…

So would I consider myself an entrepreneur? Surprisingly I would probably not consider myself an entrepreneur mainly because I spent a lot of my early career in the business world, within a corporate world…

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Risk Takers Versus Entrepreneurs

The people that I would call and see as entrepreneurs are people as relates to this question are not risk takers. Interestingly enough they -- they're more -- if they are risk takers, they're risk takers by…

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Importance of Having Passion Towards…

If you're down to trying to decide between one, two or three different businesses that you'd like to run with to come up with for your business plan and such is at least be somewhat passionate about it. And it…

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Thoughts on SWOT Analysis

I've used SWOT analysis in the past. I really believe that for me and again personally, the SWOT analysis does one thing that's very very helpful. It provides you a discipline for thinking through a company…

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