[SOUND] Hello learners, welcome back as we present the last of our series of lessons on the planning principles inherent in our suggested QUAD P planning process. In this lesson, we present an example of this process. We refer you to the Deer Steer case. This was a case that was assigned as part of your readings for this course. The company's management team has issued the following brief plan that you see here. Note that this company currently only has $40,000 cash on hand. How might you characterize this plan? The company's plan is typical of those heard in the business pitch of aspiring entrepreneurs all over the country. Guy Kawasaki even listed this type of planning as one of his top ten mistakes that entrepreneurs constantly make. This original plan suffered from lacking all of our planning principles. First and foremost though, it is aspirational. There's nothing in the statement suggesting how this goal would be achieved. Reality has shown that Emerson's famous quote, not to be true. In this, rewrite of plan B, the management team applied the process and collaborative principle, recognizing that sales were not just going to peak overnight. That it was going to take a more long term perspective. It also begins to reflect the success would involve other entities. It is still not quite operational. It does reflect their current resources, nor does it acknowledge any underlying assumptions. And finally, it doesn't explicitly focus on the ultimate problem. But nevertheless, it does introduce a long term perspective in recognizing a more collaborative effort. This last rewrite focuses only on the first plan phase, other company's marketing effort for the sake of space going through these slides, in this case it makes it operational. It's much clearer how the 7,000 units will actually be sold. It continues to seek collaboration, and presents a budget. Seems like it can be executed within the company's current resources. And it makes key assumptions explicit in the plan. This last rewrite still has one element left to be addressed. Do you know what it is? It may seem innocuous, but all of the metrics mentioned in the plan, that is the measures by which its success would be evaluated, all of the metrics involve sales, either unit sales or dollar sales. At no point is the actual reduction of deer car collisions focused on. Well, you might say if you get sales then that had to happen, people had to have fewer incidents of running into a deer. Well, not necessarily. At least not in the short run. As those in the deer whistle industry, that's still selling hundreds of thousands of units despite evidence that they really don't work. Ultimately in the long run, every product is going to be held accountable to solve the ultimate problem. Again, we always want to keep that within our focus in any of the planing activities we engage in. So as we bring this lesson to a close, we have tried to illustrate how our definition of a principled plan differs from a more traditional plan. This is the model that we hope that you follow as you implement this process for your intended business. We saw that our example at the end, reflected a long term perspective, it involves several iterations going back and forth perfecting the set of proposed activities. It had the input of experts, perspective customers, partners. It was clearly operational, again, operational suggesting that at some point you conceivably could give it over to a subordinate, and they could obtain the same results that you desire by way of following those instructions. It was able to be executed within the company's available resources. Or it gave a clear indication how additional resources would be acquired. And finally, though it wasn't explicit, we interjected the notion that the ultimate goal of reducing deer/car collisions, the ultimate problem, needed to be addressed. Along with the other underlying assumptions that was present in the final written version of the plan. We conclude, with listing, again, the factors that you're going to want to incorporate in documenting the plans for your business. And documenting or developing those core components of our QUAD P process. Business concept, business model, the launch plan, business strategy, and ultimately a ways down the line, the business franchise model business plan. Again, until next time. [SOUND]