Here’s
a look into some expert views on the value of business plans. Business plans
are very important when trying to obtain funding for your new or existing
company or even trying to set long term needs for the company. A business plan
is very detailed and it will cover all aspects of a business from market to
operations and personnel. According to Rhonda Abrams “Successful Business Plan”
when investors or readers are evaluating a business plan they usually spend
five minutes reading it. In those five minutes they look at these sections
1.Executive Summary, 2.Financials, 3.Management Section, 4.Exit Plan and/or
Terms of the Deal.
The first expert is Gedeon, Dr. Steven,
he is and expert on business plans writer and reviewer. He is a professor in Entrepreneurship
& Strategy at the Ted Roger School of Management. He has founded or led
over a dozen private, public, venture capital and non-profit organizations. He
has also published over 100 articles, reports and patents, and delivered over
40 public speaking engagements and on-line videos on personal leadership,
motivation, entrepreneurship and teaching.
Mr. Steven believes that the most important part
of a business plan is the Executive Summary, the qualifications of the
management team and the Financials. The Executive summary is basically where
you sum up all that you propose and bring all your thoughts and planning. The financials
is also a big part that will either attract or repel investors.
Mrs. Cockerton
believes that there are three key essentials to a successful business plan. The
first is targeting a growing market with a need for your service or product. Second
is having a successful team that is talented and able to execute the business
plan. Last is making sure your product or service is ground breaking. She feels
that having these things will reassure that you receive financing for your
business.
Reference
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