Frank Hoy's article on growth opportunities in small and medium size enterprises

This article by Frank Hoy proved to be very useful during our discussions on our business plan. By correctly relabeling the business plan itself as a product, I was able to apply the guidance in this article to help improve the quality of the plan.

Though the guidance offered here may seem self-evident, during the actual idea generation, assessment and planning discussions, I found myself ignoring many of the steps and jumping around a bit.

However, by recalling the systematic approach to opportunity identification, assessment, exploitation and execution described in this article, I was able to get back on track quickly.

Robert Ronstadt’s “corridor principle” was particularly useful as it painfully highlighted the fact that unless we got out of our own room of ideas, we would never be able to open doors leading to other opportunities.

I hope the lessons remembered from the rest of the article will serve us well as we implement our business plan.