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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