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Dave's blog: You dancin'? You askin'?

Dave's blog: You dancin'? You askin'?

It's an interesting time at Planet X. Can we dance? Will we dance? We haven't danced yet.

We are growing very quickly, Brant is back and we are rocking and rolling our way through the recession. But it's still a tough time for us with stretched resources and the growing pains that most businesses go through.

Being the owner/entrepreneur – and remarkably ill-equipped for the job, with a limited skillset and attention span of Freddie Starr – you have to ask yourself some tough questions. Should we plough on regardless, head down, blundering our way through the ups and downs of the bicycle industry or should we bow to the increasing pressure for business plans, KPIs, mission statements, forecasting, HR, risk analysis, SWOT, and the rest?

Then there's the dreaded word that brings a new level of awareness to an owner who has never really thought a business was anything more than messing around with bikes (beats getting a proper job): exit strategy. Have you thought of what your exit strategy is? That's the question we are getting asked more and more by the multitude of parties knocking on our door.

With last week's sale of Wiggle, we have been getting a lot of interest. Yesterday, for the first time in many years, in a League of Gentlemen, Yorkshire numpties go south style, Brant and I went to London to see if we wanted to think about doing the VC dance. That is the dance of venture capital, gap funding, inward investment. It seems a difficult dance to even think about, let alone learn the steps to, and then pull it off.

Of course we turned up ill prepared, with no plan, and looked a bit daft really. But it did force us to examine ourselves and what we are doing. Yes, what on Earth are we doing and why? Good question.

Fortunately or unfortunately, there is no great plan, but we do have a simple plan: make bikes that we want to ride. We also still largely have fun. We are on a journey that's for sure, and it's a twisting, rolling, bendy journey. We probably need a plan. We surely need a plan. We had better get a cunning plan, a cunning plan that Mr Cunning from Cunningville of Cunningbekistan would be proud of.

Whatever, if and when we get a plan, it'll be a Planet X plan. It won't involve us turning into a corporate monster, cos that wouldn't be Planet X.

Till next time,

Dave

 

6 December 2011