Expert Views On Business Plans

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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.