Experts Views on the Value of Business Plans

“Experts Views on the Value of Business Plans”

In this episode we revisit our last post, when we discussed “Two Business Plan Experts”.  After learning about these industry leaders and their techniques for success, we wanted to find ways to implement their tools into an outline for other individuals (or small businesses) looking for similar results.  Based on the information that was provided by each, we a devised the following list.   Grounded in the ideology that the list was comprised on, we have also selected of few essential elements (that we feel both experts would agree on) as pertinent aspects of a great business plan.

1.     Be Direct

While many individuals’ possess a wealth of great ideas, only a few actually see the fruition of these concepts.  A large reason for this can be attributed to the vagueness (and or insecurity) in their approach.  Those confident in their ideas tend to inspire confidence amongst observers.  A prime example, take a look at the two statements listed below from both experts’ respective sites. 

“No, I won’t write your business plan for you. Sorry, but I’ve done that, for years, and I don’t do it anymore” (Berry, 2012).

“Direct advice and assistance is what most people expect from a coach or a consultant. Dave dispenses it to his clients in heaping doses. Some people are initially taken aback by this straightforward approach” (Lorenzo, 2012).

2.     Know your worth

“Please do not be offended when Dave does not give you free advice” (Lorenzo, 2012).

It is imperative that you place a premium on what you do.  Others will only take you as serious as you take yourself.  (Side Note: When preparing for this blog we came across a number of people considering themselves experts.  However these were 2 of a handful that actually appeared just as professional as their claims).  Take a look at how Berry asserts his worth below. 

 “… I charge $1,995 and up for an interactive job, working with you, to develop realistic and credible business planning projections including sales, cost of sales, expenses, profit or loss, balance sheet, and — by far the most important — cash flow projections” (Berry, 2012).

3.     Be Selective

The first offer isn’t always the best.  Be selective about all things pertaining to your brand.  You are often judged by these associations. 

“Dave is highly selective in the people and businesses he chooses as his clients…Dave will only work with people he actually believes he can help” (Lorenzo, 2012).

The Most Important Part Of A Business Plan

Based on the information provided by these guys, we feel that the most important part of a business plan is: The Company Mission Statement. Clarifying what the company and your plan to get paid are also essential elements.

 Reference

 Berry, T. (n.d.). Tim berry. Retrieved from http://timberry.com/ 

 McWilson, J.(n.d.) Two business plan experts.  Retrieved from http://projectpleasuremarketing.blogspot.com/2012/06/two-buisness-plan-experts.html
 Lorenzo, D. (n.d.). David lorenzo.  Retrieved from http://dlorenzo.com/