I have learned a few things this week.
In addition to the entrepreneurial interview, I also interviewed my previous boss to get his perspective on my own business plans. I also met with a potential business partner to explore how I could work with his company.
These discussions helped inform my business plan. I have been thinking that my outplacement business would be hugely successful if I were to get a few large clients, and I have been considering my strategy for accessing larger companies and providing outplacement services. however in my discussions with my previous boss and new business partner, they both suggested targeting smaller companies. The rationale is that the margin for larger businesses in much smaller, and the offering is more narrow. Whereas if I were to build relationships with smaller companies that do not have dedicated HR support, then my scope could increase to include outplacement, change management and other HR services. With a few small companies, I could make a significant impact.
As I watched Taylor Richards short "Think Big" presentation, it helped me to focus on how to be the best in what I do....it doesn't necessarily mean the biggest. They became the #6 dealer in North America for boat dealers. They didn't have to have the biggest boat to do that :)
In addition to the entrepreneurial interview, I also interviewed my previous boss to get his perspective on my own business plans. I also met with a potential business partner to explore how I could work with his company.
These discussions helped inform my business plan. I have been thinking that my outplacement business would be hugely successful if I were to get a few large clients, and I have been considering my strategy for accessing larger companies and providing outplacement services. however in my discussions with my previous boss and new business partner, they both suggested targeting smaller companies. The rationale is that the margin for larger businesses in much smaller, and the offering is more narrow. Whereas if I were to build relationships with smaller companies that do not have dedicated HR support, then my scope could increase to include outplacement, change management and other HR services. With a few small companies, I could make a significant impact.
As I watched Taylor Richards short "Think Big" presentation, it helped me to focus on how to be the best in what I do....it doesn't necessarily mean the biggest. They became the #6 dealer in North America for boat dealers. They didn't have to have the biggest boat to do that :)
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