Creating a business plan can be hard work that takes
forever, and impossible if you have no idea what you are doing. What better way to learn the keys to a
successful business plan that to research what the experts have to say? The first expert that I have looked into is,
Chuck Blakeman. He stood out to me when
looking for expert opinions because his point of view on business plans is very
unique. Chuck is a speaker, author, and
the founder of Crankset Group.
(Blakeman, 2015) says, “Not a single Fortune 500 was started
with a business plan; not one.” He also
goes on to say, “Successful companies do it more like HP. They come up with a
very simple idea, get moving, then evaluate and plan as they go” (Blakeman,
2015). I find his view to be very
interesting and more of a practical approach.
He basically feels that you do not need to waste time putting a well
thought out business plan together. He
rather feels that you should take you business idea and get running with
it.
The next profession opinion that I reviewed was from, Steven
Gedeon. Steven is a professor, motivational
speaker, coach, entrepreneur and venture capitalist. According to (RU, 2016), “Steve has won over 20 awards
including the President’s Award of Teaching Excellence, Experiential Teaching
Award, and the USASBE National Award for Entrepreneurial Experiential Education
Best Practices.” Gedeon feels that the
most important part of a business plan is, “The process by which you think through what is a successful
business” (Daily, 2011). I find this to
be very interesting. He goes on to say,
“Your concept of your business – idea, customers and competitors – is one of
the top three things that venture capitalists look at, according to Gedeon”
(Daily, 2011). It makes perfect sense
that one of the top things venture capitalists would look at is the your
business concept itself. This is the
most import of your business plan.
Without a concept there is no business.
They will also look at your management team and your financials. So make sure that these areas very strong.
When
writing my business plan, I will definitely concentrate on the main three items
that Gedeon feels will be looked at the most by investors; my business concept,
my management team, and my financials. I
will make sure that my business concept is very descriptive and detailed so
that possible investors are able to see the full picture and vision for Battle
Mind Records. I will focus mainly on my
business idea and my future customers. I
feel that the expert opinion I have found through my research today will help
me to build a stronger business plan.
References:
Blakeman, Chuck (August 11, 2015). A Business Plan Is
More Likely to Hurt Your Business Than Help It.
Chuck Blakeman. Retrieved on July
2, 2016 from http://chuckblakeman.com/2015/08/texts/a-business-plan-is-more-likely-to-hurt-your-business-than-help-it
Daily, Sean D. (December 13, 2011). Dr.
Steven Gedeon on Business Plan Writing.
Sierra Investment Group, Inc.
Retrieved on July 2, 2016 from https://sierrainvestmentgroupinc.wordpress.com/2011/12/13/dr-steven-gedeon-on-business-plan-writing/
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