On a
quest to develop my very own business plan I have learned many things along the
way. A business plan is a necessary tool
for those who intend to start their own business. By creating a business plan a future business
owner is forced to address issues dealing with all aspects of their
business. What business processes do you
intend to use? How do you intend to
market your product or service? How many
employees will you need? How many units
of your product or service will you need to sell in order to keep the business
afloat?
In
an earlier post I had researched experts Steve Blank and Carlos Slim, who
believe that is was more important to have a business model than an actually
business plan. I agree and disagree with
both of these experts. I agree that
incorporating a business model into your business plan is the correct course of
action. Developing the business model
with strengthen your business plan. “Failing to involve customers and
their feedback from literally the first day of a startup’s life, keeping the
most vital opinions silent"(Blank, 2012) In order to make a business successful
an entrepreneur needs to understand the wants and needs of its consumers.
I have incorporated this into my
business plan for Entertaining Leadership.
After a client has completed one of our courses we ask that they provide
us with feedback on how to improve our company.
This feedback will be analyzed and addressed at our company
meetings. The feedback could lead to new
and more efficient processes within our company. Expert Carlos Slim suggested that companies
“create a simple organizational structure with minimal hierarchies; provide
personal development and in-house training for executives” (Calvo, 2012). At Entertaining Leadership we have designed a
simplistic structure. We also promote
staff development. We believe that it is
our responsibility to assist our staff members in growing into better leaders
themselves.
I believe that the Operations
section of our business plan will be the most important to our investors. This section will explain how we intend to
implement our business. It will show how
our classes are conducted and how our back office operations are
structured. Without the Operations
section investors would not understand how our service is brought to fruition
from our knowledge development team to our clients.
Blank, S. (2012). Steve blank.
Retrieved from http://steveblank.com/about/
Calvo, J. (2012, August 9). Expert
views on business plans. Retrieved from http://bpexpertviews.blogspot.com/
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