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/

Two Business Plan Experts

In this installment we discuss 2 recognized “experts” in the field of writing and/or reviewing business plans.  With the official launch of the network right around the corner, we felt that it may be beneficial for both us as well as our clients.   The first individual we discuss is (author and teacher) Tim Berry.  And secondly is David V. Lorenzo the self proclaimed “Rainmaker Lawyer”. 

Berry, an established public speaker and recognized entrepreneur, he has been teaching collegiately (at the University of Oregon) for well over decade.  According to his self-titled website TimBradly.com, he is also noted as: “founder and chairman of Palo Alto Software and bplans.com, co-founder of Borland International, author of books and software on business planning, Stanford MBA, father of five, married 42 years” (Berry, 2012).  Tim has been able gain and (steadily) maintains the title of “expert”, by consistently blogging, creating (and distributing) self-promotional material and hosting private seminars (for higher).  This one is aspect that he shares with our other expert David Lorenzo.

Mr. Lorenzo (a lawyer consultant by title) is also reputable resource.  While he does provide a few philanthropically recognized services (by way of a free email tutorial of his program “How Smart Lawyers Make a Great Living AND Get Home for Dinner On Time EVERY NIGHT”!).  He ultimately aims to protect his greatest assets as well as yours.  Prior to obtaining his assistance, he insists that all potential clients should take heed to these potential conflicts. 

·      Dave Lorenzo is blunt, straightforward and may NOT tell you what you want to hear.

·      Dave respects your most valuable asset - your time.

·      You get what you pay for - beware of free advice.

·      Dave doesn’t Work with Just Anybody.

·      Your competition may already be working with Dave.

David offers one last piece of information for anyone looking to speak with him one on one.  “If you would like to speak with Dave and you are not a client, you will be asked to pay a $250 consultation fee by credit card before we schedule your call with him…If you do not want to pay this fee, please do not call and leave a message” (Lorenzo).

Reference:

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

Berry, T. (2012, June 7). Truth and Beauty Make Better Sales Projections.

Retrieved from http://timberry.bplans.com/

Lorenzo, D. (n.d.). David Lorenzo. Retrieved from http://dlorenzo.com/

What defines playability?

What defines playability?

Today while sharing an enjoying ride downtown with friends, I happen to turn a station that was foreign to my radio.  An avid proponent to exploring new music, I thought it might be interesting to survey the radio-stations’ musical selections.  After entering my choice for a couple minutes the other individuals in the vehicle strongly suggested changing the station or perhaps even putting on CD (which is a compact disc for those 13 and under).   However, unfazed by the barrage of comments and complaints, I remained steadfast in my decision.  Luckily, this decision was vindicated when a cover song by the Milow - Ayo Technology (originally done by 50 cent & Justin Timberlake) came on.   It was then I baited the others with question…

“If both the content, lyrics and cadence are all transferable, then why isn’t the song”?

Unsatisfied with their answers and slightly intrigued by the altered version, I rushed to Google to get a little more information.  It turns out that this simplified of version was doing just as good if not better than the 50 cent and Timberlake assisted song.  According to a number sources, the Milow version charted respectively just about everywhere except the U.S. including The Netherlands, Sweden, Denmark, Switzerland, Belgium.  It also peaked at number two in Germany, Spain and Austria (not to mention its top ten distinction in France, Italy and Finland).

With a bevy of accolades and a hustle that resembled that of Curtis (50 cent) Jackson’s early days (at least on paper), Milows’ long plight for recognition has finally come to fruition.  However, in an effort to perhaps pacify my self I concocted the following three reasons as rationale for the stations decision to play Milow version over 50 cents. 

3 Potential Answers

Image- Despite Jackson’s recent journey into mainstream America, many still associate him with the persona he carried during his street days and early on his career.  As a result many still hit him with the proverbial black ball.

Comfort- at the time of Ayo’s release Justin Timberlake was still facing backlash from being associated with the nip slip orchestrated by he and Janet Jackson.  While he did fair better then Janet in the situation some still chose to condemn all things Timberlake related.

Format- There is also the distinct possibility that although the lyrics remained the same, and the both cadence and content as well.  Switching the artist provide just enough dissidence from the original to make it acceptable on a whole other platform.