- Suppliers are an important part of your business…and you need to explain how you're going…to manage those suppliers.…In my view, you should do what you're great at…and focus on your core competencies,…and then partner, or outsource, everything else.…This is a critical strategic concept,…and if you'd like more detail on it…check out my strategic planning course…where I cover how to think about your core competencies,…and how to leverage them in the marketplace.…For your business, as you write your business plan,…think through what your major inputs…are to making your product,…and then, who are your suppliers.…
Do you have backups for those suppliers?…Do you have a diversity of sources,…to mitigate supplier risk?…How are you going to manage the costs…of the things you buy from your suppliers?…Do you intend to have long-term contracts?…Will you conduct a scheduled bid?…Will you have any partners, joint ventures,…alliances for key components?…Something like Intel Inside,…where Intel chips are in major computers…from a variety of manufacturers.…
Author
Released
9/17/2015- Define the problem your business solves.
- Determine a product and revenue model.
- Build a go-to market strategy.
- Describe the components of a product development roadmap.
- Explain how to brand and market a product.
- List criteria for choosing suppliers.
- Identify common pitfalls of business plans.
Skill Level Intermediate
Duration
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Introduction
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Welcome1m 11s
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1. Defining Your Business
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Sizing the market1m 55s
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2. Understanding Your Market
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How you rank vs. competitors2m 48s
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3. Defining Your Product
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Protecting your market2m 41s
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Developing your product2m 23s
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Delivering your product2m 4s
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4. Selling Your Product
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Pricing your product2m 36s
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Selling your product2m 20s
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Supporting your product2m 11s
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5. Running Your Operations
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Managing production2m 3s
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Managing suppliers2m 20s
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6. Managing Your Business
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Leading the organization1m 52s
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Getting advisors2m 2s
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Compensating leadership2m 13s
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Administration1m 20s
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7. Projecting Your Financials
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Financial assumptions1m 47s
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Financial forecasts2m 20s
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Capital requirements2m 27s
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Financial risks1m 50s
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Exiting your business1m 53s
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Conclusion
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Business plan pitfalls1m 54s
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Next steps1m 18s
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Video: Managing suppliers