Dr. William A. Cohen has been a real inspiration to me in
regards to my business plan. I have been
particularly impressed with his advice to focus on the executive summary; he
suggested keeping it very brief, but specific, because investors want a quick read
that really “hits them.” (Videojug.com)
Dr. Cohen’s other advice is to pay attention to the table of
contents. This is something I will need
to address in my plan and make some adjustments. As he explains it, potential investors want
to see exactly where the data is located, so they can quickly turn to it and
see what they feel is important. The
table of contents is what directs them to that information, quickly and
concisely, without superfluous data.
Growthink founders, Dave Lavinsky and Jay Turo, also
impressed me with their list of key attributes to a successful plan,
particularly the notion of using reverse engineering to understand how to best
establish action plans. Also, the idea
of “communicating ‘brilliantly’” is something I am striving to incorporate into
my plan, focusing on my audience and speaking appropriately to them in this
document. (Growthink.com)
These suggestions have given me great guidance in developing
my plan, and have provided great inspiration in making changes to my plan. These have also focused my attention on the
most important sections of my plan. The
executive summary is my most important piece, as it expresses the mission of
the business and the who, what, where and why.
The financial data is also very important, as it offers a very good
picture of how things will be setup and what can be expected from the
company. It also shows the plan,
financially, and the potential for the future in regards to the earning potential.
By focusing on these sections, and adapting what I’ve
learned from the experts, I believe my business plan will benefit greatly from
what I’ve learned from others and from my research.
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