Mastery and The Business Plan

Over the past year and a half I have been on a journey to complete my masters degree at Full Sail University in the area of Entertainment Business. In one word, this degree program has been amazing! This one course has simply brought together all that I’ve learned throughout the program, pushed my efforts towards my final goal further, and helped me set my standards even higher. The Business Plan Development Class has helped me see the real worth of all the information that was acquired prior to this course within this program. This course definitely helps to prove mastery in the area of entertainment, more specifically for me, the music industry. I have spent most of my life getting experience in different areas of the entertainment industry as well as going through other methods of formal education and special training. All that I have done up to this point has been extremely beneficial and helped me to grow as a person and in my career. In addition, this course has given me more depth of knowledge and adds to my level of expertise and mastery. This was my goal when I started the program and now that I am in this course, I truly feel like I have become an expert.

Writing a business plan can be a very arduous task. However, with the insight of Mr. Steven Burloe and his expertise, he has be extremely helpful in his instruction that has assisted in bringing all of the necessary pieces together. Once this plan is complete, I plan to use it to help guide my efforts in my career and to also assist with securing financing for my business. A good business plan is necessary for both and this course has helped me complete this accomplishment in a very proficient way. This course has taught me how to organize the information that needs to go into a business plan and how to search for the appropriate information. I feel that I now have the tools that will help me operate a successful record label and entertainment company. This course will also help me advance my career as well as assist in advancing the careers of others. I am looking forward to the next phase of my life as I take away from this program and this course essential keys that will help me unlock the doors to outstanding opportunities and help me embark upon the next chapter of my career. I can hardly wait!

Business Plans And What The Experts Have To Say

Running a business as a business owner is not for the faint at heart. It requires a little bit of resilience and tenacity. Along with a passion and a strong desire, a well thought out and professionally prepared business plan should also be established. Clemson University entrepreneurship professor William B. Gartner believes business plans are essential. A good business plan can almost be considered one of the major requirements for running a successful business.

Barry Moltz is considered an expert when it comes to running small businesses and also when it comes to writing and reviewing business plans. He has personally had a great deal of success and failure with small businesses for more than fifteen years. He has given hundreds of presentations to audiences ranging from 20 to 20,000 and is recognized as an expert on entrepreneurship. He also has a host of national recognitions and has been honored for his many accomplishments in business. He says that as an Angel Investor, he reviews more than 500 business plans a year. In an article he wrote, he talked about some of things that should not go into a business plan and how those things make the plan less effective. He stated that a plan should never read that there is no competition in your market for the product or service you provide. He believes that every business has competitors. If there are no competitors then there is probably no necessary solution to a customer’s needs and ultimately no need for your type of business. He also discussed some things that are important to include in your plan.  One good point he brought up, as something that should be included in a business plan if being submitted for an investor to review is the investor’s exit strategy. In other words an investor should be able to see clearly in a plan their return on their investment, how long it will take for that return, and what concludes their involvement and commitment to the deal.

Another business expert is Guy Kawasaki. Guy Kawasaki is the former chief evangelist of Apple and special advisor to the Motorola business unit of Google. He is a best-selling author, speaker, and investor. Kawasaki has a BA from Stanford University and an MBA from UCLA as well as an honorary doctorate from Babson College. He states that he believes the executive summary is the most important part of a business plan. He also states that this one page document should be fantastic, eyeball sucking, and pulse-altering, people won’t read beyond it. He believes you should spend eighty percent of your efforts on writing a great executive summary and twenty percent on the rest of the plan. In this interview he also gives a lot of great information about business and current business practices in the current as well as future market.

These experts give some very good information about running a business and creating a good business plan. As I endeavor to create my own business plan I will infuse some of their advice in preparation. I will make sure I provide clear terms for any potential investors and I will also spend time creating an inviting executive summary. Hopefully this information from these business plan experts will assist you in the completion of your business plan.

Resources retrieved from:

http://www.entrepreneur.com/article/198618

https://vcexperts.com/buzz_articles/1189?goback=.nmp_*1_*1_*1_*1_*1_*1

http://barrymoltz.com/about-barry/biography/

http://www.entrepreneurmag.co.za/advice/business-plans/business-plan-advice/making-a-business-plan-what-10-experts-have-to-say-about-creating-a-winning-plan/

http://podbay.fm/show/827265808/e/1395828000?autostart=1

 -Mike Sears