Expert Views On Business Plans

http://mobile-cuisine.com/wp-content/uploads/2011/04/business-plan.jpg

In this weeks blog post I’m going to be doing some research and I’ll examine/summarize the views of two recognized experts, in the field of writing and/or reviewing business plans.

The first industry professional I’m going to be reviewing is Andrea Cockerton who’s an “independent pitch expert and advisor in the United Kingdom. She has worked with over 350 entrepreneurs during her career in the business world. Her expertise revolves around “venture funding and business critical ideas.” She’s been holding entrepreneurial workshops, while networking with companies from the U.K. helping developing large companies in “order to successfully impact the business world”. Andrea’s been a part of Microsoft, through her experience and skills she became an MIT Enterprise Forum board member. Not only she paid her dues in the business world, she also “co-founded a successful business herself in 2009 called Brick Handbag”.

            In one of her interviews she mentioned some “key information for a successful business plan”; She thinks its important to ask your investors/bankers for money before there isn’t any left. Andrea stated: “Going to investors at too late a stage is a risky strategy. Better is to look at the long-term objectives and aspirations of the business and plan the fundraising sensibly into this long-term strategy,” (Thenextwomen.com, 2008)

            I couldn’t agree any more with Andrea. There couldn’t be a worst possible outcome for a business than to have no money. Therefore it is way smarter to just ask your investors for more money before it’s all gone. This is considered key because without money no business can run.

            The other expert I’m going to be reviewing is Angelo Menequzzi who’s a business professional with over 10 years of past in the business world. He’s taken part of several start up businesses, as well as some work in “public relations, product development, and sales experience”.

            He has developed many business plans while also consulting with other businesses. Angelo thinks it’s important to have a safe business plan because: “benefits include: a heads-up to changes in the environments, better forecasting, opportunities to analyze situations before they become problematic,” (Bplans.com, 2011).

            Angelo is a very smart man; imagine being able to foresee opportunities to analyze problems before they become serious threats. With precautions like this, there are only minor details that could fly by Mr. Menequzzi’s head.

            From reading about these two industry professionals I was able to get insight into what are some key elements that business owners should be aware of. I’m looking forward to hearing from other professionals as well, learning from their mistakes, so we don’t have to make them like they did one time. 

Social Media within sports online

http://greatfinds.icrossing.com/how-to-leverage-paid-tactics-in-social-media/

Social media within sports online, and social networking has been the one thing that has not stopped evolving, constantly improving in the past couple of years.  I can remember clearly when people were really into the whole MySpace trend, but that eventually died out. It ended up being replaced by just musicians showcasing their talents via their MySpace. Allowing people to listen, share, comment and even create their own playlist.

The two things that I think are mainly dominating todays social media are: Facebook and Twitter. There are still artists out there posting their content on MySpace but I can almost guarantee, that they also have a Facebook and Twitter account. The only way to effectively network and keep sharing your content is, by staying on top of your posts and being consistent. Not only professional, but relevant. In the extreme sport world some companies are doing a better job than others. The better ones know to keep their fans updated, with introducing new team members, posting new videos and pictures. The less dedicated ones will eventually lose their following, and won’t be able to reach their target market, like they wanted to.  One of the companies that does a great job managing their social media is Monster Energy. Just by looking at their cover photo I can tell what sports they’re involved in, and how professional they are. Not only they have a good Facebook page, but also a widely followed twitter, as well as tons of pictures/fans on Instagram.  If you scroll down their page you will also see some of their most recent activities, and achievements. I like to point out one of the last articles they posted, about a Liquid Force“Novembeard” give away. In the contest they encourage people to “grow a magnificent mustache”, post their pictures and they might be able to win free products. This is a fun, yet smart way of incorporating the November facial hair growing habits, with an affiliated company they’re friends with.

That is what social networking is all about, being able to reach out to your following, and engage them with whatever message you’re trying to spread about your product/company. In the long run, hopefully building an ever-bigger group of contacts, while making your company more successful.
As you're done reading this post, I would like to encourage you to leave a comment. If you're interested in digital marketing and the way it's influenced extreme sports media, please read one of my other posts.