For any person
wanting to start his or her own business, the first place any entrepreneur will
tell you to start is with a business plan. Yes, there is much controversy on
whether a business plan is truly needed to start a business, but the consensus surrounding
this matter is a successful business is built on a plan. The following is a
review of two entrepreneurial experts revered in the industry for their
knowledge on writing a successful business plan.
Rhonda Abrams is a renowned
best-selling author, syndicated columnist, popular public speaker, who has over
15years experience in advising, mentoring, and consulting small business owners
and entrepreneurs. Rhonda Abrams has written three books, with her first book
‘The Successful Business Plan: Secrets & Strategies’ recognized and
acclaimed by Forbes magazine as one of two best books for small businesses. As
well, Abrams is a well-known columnist reaching over 20 million readers in 130
newspapers through her weekly newspaper “Small Business Strategies”
(RhondaOnline, 2009).
The key concepts
Rhonda focuses on for finding an “angel investor” are:
- Developing a winning pitch
- Create a key presentation
- Develop the best valuation of your company
- Understanding negotiation techniques
- How to locate the “right” angel investor
Rhonda helps small business and
entrepreneurs develop and execute the right business plan to fit their company
needs, and find investors by following the above concepts (ThePlanningShop.com,
2013).
Tim Berry is founder and chairman of
Palo Alto Software, and co-founder of Borland International, an entrepreneur,
and a published author. Tim Berry has solidified himself, as an expert in the
business planning industry, having developed relationships with companies such
as Williamette Angel Conference and Apple Computer (Timberry.com, 2013). Berry
has been a frequent judge for several business plan competitions, worked as a
teacher at University of Oregon for over 10years, and presented seminars on business
planning in 13 countries (entrepreneur.com, 2014).
Tim Berry’s main focus of the
business plan is forecasting and projections. Although, Berry believes its
important to realize projections will be wrong, as in business planning its not
about guessing right, but having dots connected to make reasonable assumptions
(blog.timberry.com, 2013).
In starting a business, it all can
be a guessing game, as no one knows for sure whether their business will or
will not be succeed. However, taking the time to put together a comprehensive business
plan can help take some of the guessing out of the equation, and be the
blueprint to building a successful business.
Resources
Thanks for
reading,
LaKesha, xo
No comments:
Post a Comment