Entrepreneurship, Second Edition

8.9. YOUR OPPORTUNITY JOURNAL

Reflection Point

Your Thoughts...

What are your revenue sources? How can you influence these revenues (what are your drivers)? Identify some companies that you can benchmark. What are their revenue sources? How do they drive revenue? Refine your projections. Who can you talk to that is knowledgeable about your business (customers, vendors, competitors)? What secondary sources can you find (Hoovers.com, Robert Morris and Associates database)? Compare your common-sized financials to those of your benchmark company. Can you validate or explain differences between you and the benchmark company? Are there other metrics you can use (sales per employee or sales per square foot) to verify your projections? What happens to the viability of your business when you run some scenario analyses based on the different metrics you've identified?