ENCORE by: Tha Majorz

Tuesday, November 29, 2011

“Experts Views on the Value of Business Plans”



There are many things to think about when creating your business plan. It is the layout of how your business will operate and should be used to attract investors.

Susan Ward



Susan Ward writes for www.about.com and has earned both her bachelor and masters degrees in education. Since the last 1990’s, Ward has been writing about business and the importance of business plans. Her work has been published numerous times.

One of the things she encourages entrepreneurs to think about when writing a business plan is that it should be prepared with an investor in mind. As the years pass and your business grows, so should the business plan. By writing out a business plan, one will find that they have saved time and money by doing so. One will be able to see what changes need to be made to their company after writing out the blue print to their company.

According to Susan, if capital is needed for the startup of your business, the plan is the only thing accepted and considered by financial institutions. Investors also look for a business plan when considering new ventures. They want to be comfortable knowing that investing in your company will be the best decision, it is their money they are putting behind your company.

Paul Heyworth



Paul Heyworth is the Director of Business Development at Orvia Group Limited. Mr. Heyworth states, “It is true that a business plan is a written proposal often used when raising finance for a business, but it also serves other vital functions.” He believes that a good business pln will set goals and milestones for your company.

“If you do not set targets, how do you measure what you have achieved?” - Paul Heyworth


Investors look for the following:

·      A management team with a proven track record
·      A defensible product with a competitive advantage
·      Reasonable Valuation
·      A clear statement of the investment offering



References:

Berry, T. (2005, September 12). What investors look for in a plan. Retrieved from http://www.entrepreneur.com/article/79834 
Heyworth, P. (2011, November 29). Expert view: Do i need a business plan. Lancashire Business View, (41), 1. Retrieved from http://www.lancashirebusinessview.co.uk/news-details.htm?news_id=212
James, N. (2011, September 29). Experts views on the value of business plans. Retrieved from http://nayjames.com/2011/09/experts-views-on-the-value-of-business-plans/


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