“Experts Views on the Value of Business Plans”
Business Plan writing is very important to my company in order for us to secure funding. What I have learned from this program is that you can never be too sure about the market you are targeting, what should investors expect from your venture and will this product or service you offer be beneficial to your consumers. In order to be successful one have to make sure they know their products and service and is this service lacking in the market we are targeting. Many times you will find entrepreneurs who have great ideas and really do not have a grasp on what their product or service will give to his or her consumers. What I have learned is you have to know your market, what are my consumers lacking? And how can I change that void to an investment. Taking these things in mind I have decided to make a few changes to my Business Plan, to focus more on my market and how I can convert more consumers and business to partner with my service. We have so much to offer or clients as a business so we want to make sure that every client experience that luxury service we offer and become promoters and referrals for our company. Making these changes and setting up a plan will show and instill confidence in our potential investors that our products and service is worth investing in. After reading an article from Andrea Cockerton we can find a trend. Andrea mentions that networking event is a great way to target contact to large companies that can eventually turn around into long-term partnership and funding. I agree you find networking events to be very informative and beneficial, for you get the opportunity to talk to different people in different areas of the industry that can be lead to one of the real big dogs in investments or work for one of the big banks that are seeking ventures such as yours. Kevin Gieger spoke on production companies taking that step in the industry by producing their own show from in house. I agree I find it more cost effective when you source in house than from other companies. However when doing business with outside companies you build relationships but when you use your own house equipment and staff you have all right to the ideas, venture or product you produce. This is one of the key things I am looking to incorporate in my company. I intend to purchase our own equipment and supply and hire an in house staff to run that department. I believe our investors would find that smart and resourceful. Investors are more concern with the marketing and business operations and how will product or service give them a return on their investment. So in all honesty they are more interested in looking at the projected business growth for the first three years.
Expert Views on Business Plans (AUGUST 9, 2012) “Andrea Cockerton & Angelo Meneguzzi” Retrieved From: http://bpexpertviews.blogspot.com/2012/08/andrea-cockerton-angelo-meneguzzi.html
Expert Views on Business Plans (AUGUST 9, 2012) “Indie FIlm Business Side - Kevin Gieger” Retrieved from: http://bpexpertviews.blogspot.com/2012/08/indie-film-business-side.html
Expert Views on Business Plans (AUGUST 9, 2012) “Steve Blank and Carlos Slim Business Models” Retrieved From http://bpexpertviews.blogspot.com/2012/08/steve-blank-business-models.html
By Melisa Brown
Date: January 28, 2013