Seth
Godin is a best selling author and public speaker. He is known for
his speeches related to entrepreneurship and marketing. Mr. Godin states
his views on a new, modern business plan. He discusses the following components
for this type of plan:
• Truth
• Assertions
• Alternatives
• People
• Money
Seth also
states that the traditional business plan is often boring and misused to comply
with expectations. If you have ever listened to one of Seth’s speeches, you are
aware that he is a great out of the box type of thinker. I must say that I
agree with his take on traditional business plans. My current thought is to
write a plan according the Seth’s modern business plan components mentioned
above.
Another great
thinker who discussed business plans is Robert Kiyosaki. He is widely known as
the best selling author of Rich Dad, Poor Dad, a financial advice book
series. Mr. Kiyosaki mentions that investors want to see passion in your
business plan. Therefore, one’s business plan should communicate their passion
for their organization. According to Robert, an individual should plan for
personal development and self-improvement. Doing so would enable the
development of a business plan that is not far bigger than the dreamer. “In a
lot of cases, a business plan is far bigger than the person with the plan —
that is, the dream is bigger than the dreamer” (Blog.gaiam.com, n.d.).
“Obviously,
investors expect to see the details of the business, such as the type of
business, location, business structure, and markets addressed”
(Allbusiness.com, n.d.). As stated on AllBusiness.com, prospective investors
look for the following five things in a business plan:
• A company’s industry background and
experience
• A unique product with a demand
• Ability to continuously reach the target
market
• Strong knowledge of industry competition
• A return on investment
These are
considered key because an investor wants to reap a return on their investment
in a company. They also want to know that the parties leading the organization
are capable of guiding the business in a competitive environment. All of the
things that investors look for prior to investing definitely make it apparent
that planning is important prior to seeking investment support.
Kedrick “Rick”
Mahoney
References:
Allbusiness.com. Five
Things Prospective Investors Look for in a Business Plan | Management >
Strategic Planning from AllBusiness.com. Retrieved 2 November 2014, from
http://www.allbusiness.com/business-planning-structures/business-plans/1721-1.html
Berry,
T. Seth Godin's "Modern Business Plan" | Finance >
Business Planning from AllBusiness.com.Allbusiness.com. Retrieved 2
November 2014, from
http://www.allbusiness.com/company-activities-management/management-change-management/14584221-1.html
Blog.gaiam.com. A
Quote by Robert T. Kiyosaki on think plan, success, dream, and business | The
Gaiam Blog. Retrieved 2 November 2014, from
http://blog.gaiam.com/quotes/authors/robert-kiyosaki/54636
No comments:
Post a Comment