Business Plans

There is a lot to be learned from professionals in the business consultants just from their views on business plans. In the previous post, I researched Frank Gloey and Dave Lavinsky. These two have similar views that I found rather helpful. They both talk about realistic assumptions and how realistic the business plan is (Lavinsky, 2012) (Goley, 2012).

I incorporated information from both professionals in my business plan. Goley stresses being genuine and realistic. I made the most realistic assumptions in my business plan as possible. As a company, we care genuinely about our clients and their music.

From Lavinsky, I found it best to make a unique company that has a high edge on the competition. In the specific area my company is located in, there is no other company just like it. As my business plan describes, the studios in the area are focused on other things. They are not focused on building the music scene in Pittsburgh. JustRiot Productions uses the management side to help their bands and really grow the music in the area. This is what I have incorporated into my company. I also incorporated scalability. My company could easily expand. Another studio could be built anywhere in the country, and there is no real limit for the amount of studios we could expand to.

There is a lot to think about as an investor. Many things come together to make a company strong and profitable. What I think is most important is understanding the business plan and implementing it completely. This is a concept of Frank Goley’s, and I’m sure many other consultants us the same concept (“About us,” 2012). I think knowing your business plan shows investors that you know what you are doing. I also find it important to be scalable, unique, and genuine. Scalability speaks loudly to investors. They want their money back and to make the most out of a company as possible. A good exit strategy goes hand-in-hand with scalability. As Lavinsky stated, the exit strategy is where the investors make the most off a company (Lavinsky, 2012).

Resources:

About us. (2012). Retrieved from http://www.businessconsultingabc.com/About_Us.html

Lavinsky, D. (2012, May 13). Finding angel investors & convincing them to give you funding. Retrieved from http://www.growthink.com/content/finding-angel-investors-convincing-them-give-you-funding

Goley, F. (2012, May 9). Effective investor and venture capital pitch tips. Retrieved from http://abcbusinesssuccessblog.businessconsultingabc.com/2012/05/09/effective-investor-and-venture-capital-pitch-tips/