Reverse merger: A vision without a strategy is a prescription for failure.
Many business owner with a dream to take their company public often neglect to prepare and plan for future, very few small and mid-size companies have a business plan.
A business plan is like a road map, and can be liken to when you go on a journey sometimes you need to change direction, it doesnít mean your destination changes, you are just getting there via a different route.
A vision is some thing that is birth in mind and soul of individual, some people act on it and others procrastinate for a period of time only to see someone else take their dream and bring it to fruition.
The dream giver will only allow you to sit on your dream for so long before giving it to someone else. You often hear people saying ď I had that idea two or three years agoĒ, what good is an idea without taking action, but with action there must be a strategy.
Businesses donít plan to fail, they fail because they fail to plan. Entrepreneurs usually are visionaries who get an idea and run with it but, if you look at successful ones they always had a plan, and a team to help them bring their dream to market plece.
The team can sometimes get you to top, but itís strategy that takes you over top, so donít settle for second best, be best.
If you look at a twenty year chart of Microsoft Corporation, or Yahoo Inc. You will find that at one time their stock traded under a dollar but through brilliant strategies they were able to accomplished great things.
Just like Bill Gates had a plan so must you develop one. Bill Gates also had Paul Allen so must you find someone who can complement your weak point. If you are not a good strategist go out and find yourself one who is not a yes man.
The phrase ďno man is an islandĒ is most applicable in corporate environment, where team work is essential for success.
In small companies dreamer is required at times to do everything and become efficient in every task, which is beneficial because he should know functions of every department in company. But he should have competent personnel in those position in order for him to be able to see entire picture.
This is where being a public company comes in handy, it allow entrepreneur to use company stock as an incentive to attract more competent and better qualified personnel and retain them. It also makes it possible for company stock to be used for acquisition purposes.
Team work is essential in order to be able to succeed. I remember in 1980's investing in a company appear to have a dream team for itís management, everyone involved in management had a PHD and an ego to match it. A friend of mine who was investment banker for company related to me how he attended a meeting with company and it was complete chaos, each person appear to think that their opinion was only one deserving of consideration. Needless to say company eventually file for chapter eleven.