Using "the experts," advice to help your Business Plan.

Ok, so now that I have got some advice from "the experts," I plan to use that information in my business plan. How am I going to do this? Well, I'm about to explain it so relax. As you may recall Dave Lavinsky explained in my pervious blog that the executive summary should be the first because it is the first thing the investors will look at. I implemented this step into my business plan by prepping my executive summary in a manner that makes it easy for the investor to follow.

The key factors in doing as stated by Mr. Lavinsky stated is to highlight your business plan so it appeals to the reader to read the entire plan. First I included the basics such as my business names, the location, the product or service I’m selling and the purpose of me doing so. The key element I have used from the advice giving is tailoring the executive summary to the particular investor, meaning if the investor I’m targeting is known for giving money to companies affiliated with children, I will make sure I play on that information in an indirect way. For example, I may have mention in my executive summary how the product I’m selling is preventing the youth from participating in gang violence or etc. 

Furthermore since the financial plan is one of the most important analyses I spent a lot of time with the numbers to make sure everything factored out probably. Using excel I explained the breakdown, from employees salaries to the companies marketing budget. After factoring in all the elements I realized that my company would not break-even within the first three years. The drew a huge red flag, one because the investor wants to know when they will get there money back and secondly because this should that my company was not bring in a lot of revenue.

Eventually, retracting some of the financials that were inputted I was able to overcome the lack of revenue by using the advice giving by David E. Gumpert by increasing my sales and increasing my profit. The expert’s advice is a tool that I will continue to use throughout my business plan. Their advice has helped with the structure and professionalism of my companies business plan.