By now, it should be clear that it would be accurate to describe the screening process as “giving the third degree” to the plans. But, although ruthless in approach, the process is getting us closer to making a go or no-go decision.
Having winnowed our pile of business plans down to a little over 5% of the plans originally submitted, we are getting close to knowing whether or not to go for funding. Obviously, to get to this stage, we had a fair amount of confidence that the written plans make sense.
Along the way we have been trying to determine whether or not the people who are asking us to go raise money for them really know what they are talking about. Do we think they know their own business well. Do we think they are capable of succeeding if we get them the money they were asking for?
What this comes down to is making a judgment on whether they can give the business the support it needs to succeed? A key point to determine is: are they going to be working “on” keeping their business “on ”the proper trajectory? Or, are they going to be working “in” their business, trapped “in” the minutiae that take management time but do not yield operational results?
The answers to those questions depend upon the focus of the individuals responsible for carrying out the business plan. If the focus is not there, the business plan gets chucked out.
Along the way we have been trying to determine whether or not the people who are asking us to go raise money for them really know what they are talking about. Do we think they know their own business well. Do we think they are capable of succeeding if we get them the money they were asking for?
What this comes down to is making a judgment on whether they can give the business the support it needs to succeed? A key point to determine is: are they going to be working “on” keeping their business “on ”the proper trajectory? Or, are they going to be working “in” their business, trapped “in” the minutiae that take management time but do not yield operational results?
The answers to those questions depend upon the focus of the individuals responsible for carrying out the business plan. If the focus is not there, the business plan gets chucked out.
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