Expert Views on Business Plans

The experts that I have chosen to research are Carl Schramm and Andrea Cockerton. Carl Schramm is an entrepreneur and PhD economist who many have referred to as the “evangelist of entrepreneurship.” He is also the former CEO of the Kauffman Foundation, a philanthropic foundation that happens to be one of the nations leading funders for entrepreneurship research. Andrea Cockerton is a pitch expert, helping entrepreneurs pitch for funding. She has held entrepreneurial workshops in the UK and helped more than 350 entrepreneurs. Cockerton is also an MIT Enterprise Forum board member.

According to the experts some key components that investors are looking for in a business plan are targeting a growing market, groundbreaking ideas, and that there is a plan to action. It is essential to target a growing market that has a need for your service or product. A growing market tends to not be overly saturated with products and services and allows for opportunities for growth and expansion. Groundbreaking ideas have the potential to grab investor attention and stand out amongst competitors business plan. If your idea, product, or idea grabs the investor’s attention, it has the potential to grab the publics’ attention. Carl Schramm shared his views in regards to characteristics of an entrepreneur, “They see things differently…” Having a unique point of view can assist in coming up with groundbreaking ideas, products, or services. An investor is more likely to consider business plans with a plan to action. The plan of action has to be specific to your industry. Knowing your industry has a lot to do with your plan of action. Research is key in this regard.

The suggestion that I am considering for my business plan involves having a more detailed plan to action. I plan to lay out my initial 12-month business and marketing strategies in regards to my industry. Having this plan will work as a guideline with room for change and flexibility. My involvement in the music industry means that my business must be flexible in order to survive the ever-changing climate of this industry.

Sources

Expert Views on Business Plans. (n.d.). : Andrea Cockerton & Angelo Meneguzzi. Retrieved August 10, 2014, from http://bpexpertviews.blogspot.com/2012/08/andrea-cockerton-angelo-meneguzzi.html

Expert Views on Business Plans. (n.d.). Expert Views on Business Plans. Retrieved August 10, 2014, from http://bpexpertviews.blogspot.com/

Gleeson, B. (2013, February 25). Searching for Angels: The 10 Best Ways to Attract Investors. Forbes. Retrieved August 10, 2014, from http://www.forbes.com/sites/brentgleeson/2013/02/25/searching-for-angels-the-10-best-ways-to-attract-investors/

How formal choral scholar Andrea Cockerton turned the Dowsing Sound Collective from a hobby to a business. (n.d.). Cambridge News. Retrieved August 10, 2014, from http://www.cambridge-news.co.uk/Business/Business-News/How-formal-choral-scholar-Andrea-Cockerton-turned-the-Dowsing-Sound-Collective-from-a-hobby-to-a-business-20140129145347.htm

Schramm, C. (2014, June 1). Why Immigration Is Crucial To The Revival Of America's Cities. Forbes. Retrieved August 10, 2014, from http://www.forbes.com/sites/carlschramm/2014/06/01/why-immigration-is-crucial-to-the-revival-of-americas-cities/