Take it from the Experts: Business Plans
When considering starting a business, there are many
components that go into the final planning before opening. These business
leaders have earned their titles as experts from on-going experience in the
forefront of business growth success. The experts I chose to highlight include Dave
Lavinsky, Co-Founder of GrowThink and Simone Brummelhuis, Vice President of
Astia.
Lavinsky is a renowned expert in venture development,
capital raising and business planning. He holds a MBA from the Anderson School
of Management at UCLA and earned his Bachelor's degree from the University of
Virginia. Lavinsky has developed over 100 business plans and grew KeySpan
Energy Services from zero to over $1 billion in revenues in less than three
years. The intro is only a small portion of his success in business development
and planning.
Simone Brummelhuis began as an international corporate
lawyer, however currently she is the VP Europe of Astia.org, a “premier venture
accelerator and entrepreneur programme for high-growth women-led companies.”
Brummelhuis is also the CEO and Founder of The Next Women, an Internet Business
Magazine for Women, which is the first of it’s kind. She has extensive
knowledge in female entrepreneurship and start-ups growth.
Critical and key components that investors seek in business
plans include path to profitability, competitive intelligence, and the
executive summary. The path to profitability should be demonstrated within the
first two years and are key because it indicates to investors the return on
investment will be worth the risk. Competitive intelligence demonstrates
thorough research has been conducted and there is opportunity to gain
substantial market share. Finally, the executive summary should contain core
concepts that solve a problem in the market where competitors have not been able
to provide a solution. Business planning is important to having a success
business and experts in the industry provide insight on how to succeed.
Sources:
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