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After spending time with the BP Expert Views blog a couple of weeks ago, it allowed me to think differently about how to put my business plan together. William Sahlam and Michael Porter were featured in this blog, and they both taught me that investors are looking for the basics when deciding whether or not to help fund your project. While putting together the different parts of my business plan this month, I tried to keep this in mind by making sure not to introduce any new high-level ideas throughout it. I made sure to re-iterate the purpose and goals of Moguls in the Making, and always tied them back to whatever topic I was explaining at the time. I think this will help to keep the investor focused on only a few main things and not get confused with too many small details. I was sure to address all of the necessary topics, but did it in such a way to not distract the reader.

The sections that I feel are most important to the investor are the Industry Analysis, Market Description, and Management and Organization. The Industry Analysis is important because it allows to investor to see whether or not the industry as a whole is capable of producing results for a new business entering into it. It allows the investor to see how well other businesses within that particular industry are doing. The Market Description allows the investor to see how well potential clients will accept the products and/or services of the new business. This allows the investor to make a direct correlation to how successful sales will be. Finally, the Management and Organization is important because it shows whether or not the management team is qualified and capable of directing and managing the business.

When fine-tuning your business plan, make sure to provide a clear and consistent theme throughout it. Also, make sure to figure out which sections you feel are most important and make them your best. Become comfortable with them so that you can express your passion about your business to potential investors through the sections that you know best.

Good Luck!

~*Love, Peace, & Radio*~

References

Burhoe, Steven (2011). Expert Views on Busines Plans. Retrieved on September 7, 2011 from Bpexpertviews.blogspot.com

Sahlman, William (1997). How to Write a Great Business Plan. Retrieved on September 7, 2010 from http://www.google.com/search ?hl=en&source =hp&biw= 1440&bih=715&q=how+to+write+a+great+business+plan+sahlman&oq=how+to+write+a+great+business+plan&aq=2&aqi=g6&aql=&gs_sm=e&gs_upl=692l4748l0l6850l34l19l0l6l6l2l933l5263l1.1.3.0.5.2.1l13l0

Institute for Strategy and Competitveness (2008). On Competition, Updated and Expanded Edition. Retrieved on September 7, 2011 from http://www.isc.hb s.edu /On_Competition.htm

How many times have you been awake late at night thinking about a business venture that you wish you had the courage to go through with? I know this has happened to me often. The best thing to do when you have these ideas is to write them down, then start a business plan for the one that you like the most. Composing a business plan may seem like a daunting task but, the internet is a vital source to gather all of the data needed to impress potential investors. One of the first things you should do is read up on information posted by leaders and professional who are experts in creating business plans. I’ve recently learned about two people who are great at teaching others how to write the best business plans. Some of the information that I learned can be found below.

According to bpexpertviews.blogspot.com, William Sahlam has an impressive background and resume (¶ 52). Besides the fact that he has degrees from Princeton and Harvard, two of the most highly respected schools in the nation, he has also sat on the board of several different for-profit and non-profit organizations. I greatly respect his commitment and involvement in non-profit organizations because of my desire to one day start one of my own. Sahlman also published a book titled “How to Write a Great Business Plan.”

Also on bpexpeertviews.blogspot.com, I was introduced to Michael Porter, who currently holds the highest faculty recognition at Harvard University as the Bishop William Lawrence University Professor. In his book titled “On Competition” he stresses the importance of being knowledgeable about your competition. He exlplains how healthy competition can lead a company to success through several different avenues.

Through reading about just these two men and their accomplishments, I have learned that investors are interested in the basics when decided whether or not they will give a chunk of their money to you. These things include:
• The People – Employees
• The Opportunity
• The Context
• Risk and Reward
• Competition

References

Burhoe, Steven (2011). Expert Views on Busines Plans. Retrieved on September 7, 2011 from Bpexpertviews.blogspot.com

Sahlman, William (1997). How to Write a Great Business Plan. Retrieved on September 7, 2010 from http://www.google.com/search ?hl=en&source =hp&biw= 1440&bih=715&q=how+to+write+a+great+business+plan+sahlman&oq=how+to+write+a+great+business+plan&aq=2&aqi=g6&aql=&gs_sm=e&gs_upl=692l4748l0l6850l34l19l0l6l6l2l933l5263l1.1.3.0.5.2.1l13l0

Institute for Strategy and Competitveness (2008). On Competition, Updated and Expanded Edition. Retrieved on September 7, 2011 from http://www.isc.hb s.edu /On_Competition.htm

I realized the other day that I am very close to being done with my coursework at Full Sail University. I can't believe this year has gone by so fast. I have learned about so much throughout my studies, and how fitting is it that my last class is tailored towards learning about how to market your company through the internet. Going online and researching different companies and their product offerings is quickly becoming the norm. According to the Business Opportunities Weblog Network, about 58% of people do online research before purchasing a particular product, up from 49% in 2004. These numbers prove that people rely on the internet much more to gain information about consumer products and services. This piece of information is great for people starting up business that are only online based, or for people that are going to rely heavily on the internet to market the product or services they will be offering.

Some of the things that I have learned throughout this course that will help to ensure that your internet marketing will be successful is the following:
• Keep your website, blog, social networks, etc updated frequently
o Search Engine Optimization (SEO) workds off of how often websites are updated. The more you update your website, the better chance you have at being at the top of a search engine list
• Use specific keywords and key phrases throughout your website, blog, social networks, etc.
o Making sure that you are using keywords and key phrases that relate to your product or service offerings often enough (but not too often), will also help you get to the top of a search list

These of course are not the only things that you should be doing to optimize the effectiveness of your website, but they are great starting points. If you are interested in learning more just do a quick google search! While you are learning more about how to market your business on the web make sure to pay attention to the website you are learning from. How exactly are they teaching you? Do you see any trends? How easy to read is the website? What about the layout?
Take some of the positives and apply it to your own site!

~*Peace, Love, and Radio*~

References: http://www.business-opportunities.biz/2010/09/30/more-shoppers-doing-research-online-before-buying/

Digital Marketing for Non-Profits

We all know that the use of the internet and other digital resources is extremely important within the entertainment industry, but the increase in technology for research has proven that digital marketing is also very important for non-profit organizations.

Google AdWords
The use of Google AdWords is very useful for non-profits. Google AdWords allows the name of your organization and a link to your website to be listed under the “sponsored links” section of the search page. This is important because it allows your business and information to pop up first. As a non-profit it is important to gain as many followers and advocates as possible in order to raise funds to keep your business thriving. In the case of Moguls in the Making, I would use key words like youth, entertainment, career, and mentor. These words are most important because they, in a nutshell, describe what I am aiming to accomplish throughout the duration of the existence of Moguls in the Making. Take a look at

http://www.slideshare.net/GeorgianneBrown/digital-marketing-amp-your-non-profit

it allows you to get a better understanding of why digital marketing makes so much sense for a non-profit organization. It is sometimes hard to understand why non-profits even need money, hence the name “non-profit” but through fundraising and donations they are able to thrive.

Google Grants
Another thing I learned about on this site was about Google Grants. This is a program that non-profit organizations apply to in order to receive a free subscription to Google AdWords. This allows for absolutely free marketing if your organization is chosen to participate: 100% return on investment. No matter what type of business you are deciding to open it is always important to market it. People need to know you exist, and for any business the more people that know about you the better!

Happy Marketing!

~*Love, Peace, and Radio*~