The Value of My Business Plan

After conducting research on experts views on the value of business plans, I became more aware of why it was so important. Brain Hill and Dee Powers are people that specialize in helping companies take their business to the next level. In one of their articles that they wrote, they state that it is very important to write a very detailed business plan. When I first started writing my business plan I did not have a clue of where to start. I was not sure on the actual concept of what I want my business to do. I also did not have an idea of how it would generate revenue, but I knew I loved music and working with the artist.

After doing some research and seeing what other experts had to say, it really helped me have a clearer understanding of what is needed. I started focusing on how my business and its services would be beneficial to my clients and community. Then I started to look more at how I could market my products and services. I took the time out to learn my market and how exactly I was going to target. After learning some of these things, I had to go in and redo my whole business plan and ideas. I had to get it more focused and see how it would grad the attention of my audience and possible investors.

My now updated business plan is more focused on who my company is, what we have to offer and how we will market the product and services to get revenue and cliental. I have change my marketing plan and also updated and focused on the sales and profit margin for each month. Hopefully after doing these necessary changes to my plan it will be more attractive to investors and also I can get started on building a strong following and client base.

The most important part of the part of my business plan to an investor is the financial part, which includes sales, and profits. They want to know that if they invest their money how long will it take for me to pay them back and still make a profit. Also what kind of services and products I offer and the way I marketing will be just as important. I have to make my company stand out and if it doesn’t then I could be in for some issues. 

Overall after reading articles from experts on business plans, it gave me a better understanding on how to research for funding and how to prepare to present my business. I also learn that I must understand how my business is different and how I can get my ideas to produce money and continue to be successful and beneficial to my clients and the community.

Sources:

http://ezinearticles.com/?Your-Business-Plans-Goals,-Objectives-and-Strategies&id=2406175