Incorporating My Research On Experts Into My Business Plan

I intend to incorporate what I’ve learned from my own research on the experts profiled in the previous posting by keeping their philosophies on business and success in mind. Dr. Gedeon said in a video,” I teach my students about personal success first and business success second.” It’s important to be happy with yourself before starting a business. Mr. Gedeon also says,” Entrepreneurship is like playing the guitar.” You have to just do it. I would incorporate his advice about starting a business because I found it meaningful. Mr. Chuck Blakeman uses his experience to help business owners create success. I would seek business advice from his group, The Crankset Group about my business plan before presenting it to an investor. Not only that I learned from both experts that failure is okay and its part of success. I didn’t make any changes to my business plan based on the information by these experts but I do find the research insightful. I’m going to continue my research on these two experts and follow them as start my journey after Full Sail University. As I present my business plan to potential investors I will keep in mind that “I have to be curious about the world and have a passion for what I want to do”, says Dr. Gedeon.

A business plan should be well organized and proofread before it’s given to a potential investor. The most important sections of my business plan to the investor that is reading my plan would be the financial section and the executive summary. The executive summary is the first opportunity to gain the investor’s interest. The investor wants to know about the company that he/she may invest in. The finances are important because the investor will want to know how they are getting their money back. 

Sources:

Business Plan: Examples and Best Practices of Business Plan Writing. (n.d.). Retrieved from http://www.youtube.com/watch?v=RoytcBiOpDI

Business Plan Executive Summary | SBA.gov. (n.d.). Retrieved from http://www.sba.gov/content/business-plan-executive-summary

BusinessInfoGuide.com (2011, March 24). Entrepreneur Interview: Chuck Blakeman of The Crankset Group : Business Info Guide: Small Business, Internet Marketing, Entrepreneur Interviews & Resources. Retrieved from http://businessinfoguide.com/entrepreneur-interview-chuck-blakeman-of-the-crankset-group/

Chuck Blakeman / Live well by doing good. (n.d.). Retrieved from http://chuckblakeman.com

Crankset Group – Make your own business rules. (n.d.). Retrieved from http://cranksetgroup.com

Steve Gedeon | LinkedIn. (n.d.). Retrieved from http://www.linkedin.com/in/stevegedeon

Steven Gedeon | Entrepreneurship is like learning to play the guitar (till your fingers bleed) [Video file]. (n.d.). Retrieved from http://www.youtube.com/watch?v=JyQiJd2CrPQ

Taking A Look At Some Experts & What Investors Look For In A Business Plan

Professor Steven Gedeon, PhD is a serial entrepreneur, angel and venture capitalist. He has founded and led over a dozen private, public venture capital and non-profit organizations. Dr. Gedeon has delivered over a hundred public speaking engagements and on-line videos on personal leadership. He is currently a Director of the Ryerson Entrepreneur Institute, the Ryerson Angel Network and the Dobson micro-Financing Seed Venture Fund. He also holds a position as Chairman of CEO Fusion and the Research Committee of the National Angel Capital organization. His background includes investing in and bringing new products and services to market in high tech, IT solutions, software applications and artificial intelligence. Dr. Gedeon is a licensed Professional Engineer in the USA and Canada and has won over 20 awards. His has experience when it comes to starting, leading, financing and coaching technology-based companies.

Mr. Chuck Blakeman is a business practitioner who uses his experience to help business owners create success. He has years of experience in sales, marketing and operations of companies. These companies are involved in branding, database, website development, call centers, printing and direct mail processing. He’s an author of “Making Money is Killing Your Business”. Mr. Blakeman has a group called The Crankset Group that provides outcome based mentoring, peer advisory and consulting to business owners. He is a regular convention speaker. Chuck Blakeman is responsible for starting and growing five businesses and is considered the thought leader in Marketing Support Services. Microsoft, Tyco Healthcare, and Apple are a few customers that have worked with Mr. Blakeman. He speaks and works with businesses in the U.S., Europe, Africa and Australasia.

Even though the particulars may vary depending on the investor, there are some components they are looking for. They want to see your background in the industry and business experience. Investors also will be looking at the experience of your management team as well. You must be able to show how your product or service is unique. You have to prove that there is a need for your product or service in a large market that would make their investment worthwhile. Investors will also want to know if you know your demographics and how you plan to reach your target market consistently. The pricing and sales strategy must be clearly defined. They also want to know that you researched your competition thoroughly and how you plan set your business apart from theirs. Most importantly, investors expect to see a return on investment. They want to see financial projections that will show how long it will take for your business to show a profit and get their investment. They are considered key because it helps the investor see your vision in clear view. It shows that you put time and research into your vision for your business before you started looking for an investor. Not only that but it helps the investor know whether they want to do business or not.

About | Steven Gedeon. (n.d.). Retrieved from http://www.stevegedeon.com/about/

AllBusinness.com (2009, May 12). Five Things Prospective Investors Are Looking for in Your Business Plan - NYTimes.com. Retrieved October 6, 2013, from http://www.nytimes.com/allbusiness/AB12322189_primary.html

Chuck Blakeman's Biography | Mulligan Speakers International. (n.d.). Retrieved from http://mulliganspeakers.com/index.php/chuck-blakemans-biography/