Entrepreneurs – How To Manage The Business Plan | Learn What The Price Point is

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http://jerrymitchellblog.com/ Entrepreneurs need to know how to manage the Business Plan. Entrepreneurs also learn what the price point is. Jerry R Mitchell proves some tips on how to effectively break down to the person responsible for that task.

Q: Looking at the critical elements when an entrepreneur creates the
plan and they start working against it, how do they know that we are being
effective, or we need to change things in this area or that area?

A: Because you have measuring standards, you have a meeting with your
team and you are saying okay, we didn’t make it this week, why not? What
prevented us from getting our task done and each person in that room has to
explain what stopped them from doing their task.

And sometime in every company you’ll find somebody that is too busy playing politics; they want us to be in control as working around talking to everybody. And sooner or
later you are going to figure out who that one person is the one that is holding everything back and because they are not sharing the knowledge. It’s got to be everyone sharing stuff, I can write all the programs in the world, but the guy’s not telling me what the operating system says, I don’t know that I am doing. How are we going to integrate this stuff? What you’re doing is, every component and plan should be written by the person responsible for it and then compiled. Maybe you get an outside person to help you make it look better, but you and your team are supposed to be writing those sections. So if something is not getting done, that person should be calling the president and say, you said we’d have this done by this day, how come we don’t have it done by this date; now tell me what the obstacles are, what is the problem; do you need more people, what is the problem? Have we misstated something because anything that falls behind gets everything else out of kilter and so you have everybody talking about it and you say let’s go fix the problem. Let’s not blame somebody, let’s go fix the problem. So you have to look at every week to see what is going on, you have to have your pulse on it. And you also have to be on the
marketplace if you’re the CEO of that company, you’ve got to be able to find out what is being announced. You can’t work in a vacuum saying I have the best product in the world, no one is going to have one like it. And we are in a global economy; you don’t know what is going on all over the world.

There are lots of places that I go to –newspapers sent to me, filters so I
know what industries I am looking at. Now a good example is wireless,
everyone around here is make Chicago the wireless capital of the world and
Europe’s three years ahead of us, and they don’t even know that in Chicago,
it’s like they keep shaking their head and saying yeah, okay. But you have
to have your finger on the pulse of what is going on.

And the pulse is the buyer, what is the buyer wanting to buy right now? DVD television? I don’t think so, the price is too high; and what’s the broadcast? People buying DVD televisions so they can play DVD recorders of movies that they — they
go to a video store and they rent a DVD player and they put it in there. Now no one’s asked their concern, what it is they want to pay for that? That’s the problem that happens a lot of times, they went through the whole big argument of the broadband communications, everybody’s going to have broadband, started out five years ago, we were going to have fiber, fiber to the house. No one asked the consumer, “what are you willing to pay additionally on you phone bill for this service?” We just created this
whole network of everything. So everyone is going to buy this stuff, no one says, what’s he going to pay for it?” You know, you have to ask the customer, what’s he willing to pay for this? And if you can’t meet that price point, then you can’t be in that business.

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