For part two in my discussion on the value of business plans, I will like to share what it is that I have learned from my own research on the two experts that I first profiled in the posting right below. The two experts that I researched earlier this month was investor and entrepreneur Mark Cuban, and business owner and writer of the book “The-Plan-As-You-Go-Business-Plan”, Tim Berry. After reading up on Mark Cuban, I intend to make sure I come up with an idea that is not boring nor follows the same trends as everyone else’s business plans. I have to have a clear development and exit plan to show investors so we can all see where the company may be going in the future and they can see what they will be getting in return for investing into my company. Tim Berry proved to me how valuable visuals could be to have present throughout your business plan. He also pushed having a strong strategic position and differentiation from your competitors so I will continue to analyze my company’s goals and objectives and strategies as I am finalizing my business plan to make sure they stand out and are on point with my vision.

Based on the information provided by these experts, for my own business plan I decided to make it geared more towards digital distribution and I was very detailed in my sections on the industry analysis and target market. I had to show that my target audience was large enough for my products and services and that my company has room for “potential growth”. For my plan, I paid more attention to my assumptions and costs and tried to be more realistic with the numbers. I also did a thorough risk assessment. I eliminated what I thought I would not use and stuck with what I knew for sure I would need in my business as it starts.

The sections of my business plan that I consider the most important to the investor reading my plan is my technology section, industry analysis section, and my financials section. The finance section is the most important of all because investors need to see I have researched the industry enough to know how much money it may actually take for me to start and run this company and how long to make a substantial profit.

Abrams, R. (2010). The Successful Business Plan. Palo Alto, CA: The Planning Shop

(2011). Mark Cuban quotes. Retrieved August 2 2011 from, http://www.inspiringlifethoughts.com/?tag=mark-cuban-business-plan

Altucher, J. (2011). How I helped make mark cuban a billion dollars, and five things I learned from him. Retrieved August 2 2011 from,

http://blogs.wsj.com/financial-adviser/2011/04/18/how-i-helped-make-mark-cuban-a-billion-dollars-and-five-things-i-learned-from-him/