After researching on experts in the field, I intend to
incorporate a lot of what I have learned from my Business Plan Development
class in my business practices.
Through this class I have become more educationally aware of
the importance of structure within business and the plans that make or break
them when it comes to investors. I have learned a lot and will put these practices
into my everyday business planning from now on.
After reviewing what business experts have to say, I have
made a lot of changes to my business plan. Specifically, in the areas of
financial budgeting. I have broke down specifically what I need and why I need
it because investors need to know where they are putting their money and how it
will gain successful returns, while doubling or more.
The sections of my business plan that I consider the most
important are the Executive summary, Company Description, and Financial Budget
sections. The reason I think this are as follows,
-
The Executive section gives potential investors
an idea of exactly where my company is, where I want to take it, and why my
business objectives will be sufficiently productive. It will highlight the
assets of my ultimate plan.
- The Company Description section includes a brief report of when my business was formed, the founders, location, and sometimes the roles of potential employees. It will primarily focus on the character of my business and indicate a record of the specific target market I am trying to provide my services to. It will list particular, organizations, buyers, and/or businesses that will be interested in the company’s endeavors. As well as describe the competitive advantages that will make my company a success, for example, location, operations, and key personnel that my customers will benefit from.
-
The Financial Budget sections give investors an
idea of how and where their money will be spent. As well as how they will
benefit from their investments.
With these important
sections in mind I plan on utilizing what I have learned during my time at Full
Sail University. Since I am new to business development, I will demonstrate in
my business plan thorough market research and analysis. I intend to include
information that will fulfill minority gaps within the creative artists
industry. I will reach my target market by achieving clear and concise business
practices which are suggested within my plans. I will propose to persuade the
investor that I can be successful with my endeavors. The investors that read my
plan will see a specific breakdown and address of my future plans.
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