Expert Views on the Value of Business Plans

Expert Views on the Value of Business Plans

       The two very talented business plan writers that will be discussed are Tim Berry and Dave Lavinsky. Tim Berry holds a MBA from Stanford University and a MA in Journalism from the University of Oregon. He has experience as a judge for different business plan competitions. Berry is the founder and Chairman of Palo Alto Software, founder of bplans.com, and co- founder of Borland International. He was able to turn Palo Alto Software into a multi-million dollar company. Berry also teaches starting a business and business planning to college students. There is no question to how much of an expert at business planning Berry is.

       Dave Lavinsky is an expert in business planning, raising capital, and new venture development. Lavinsky launched Growthink University, which is a community for business owners to learn how to raise capital.  Lavinksy wrote the business plan for billion-dollar company Key Span Energy services. Lavinsky holds a MBA from UCLA.

  There are five key attributes for a successful business plan that are followed by both experts. To have the right overall value proposition is one of the ways to help create a successful business plan. This is to ensure that the company has an understanding of their customers need.  Another one is to have the proper marketing strategy. This means the company takes time to develop marketing strategies that are different and unique to the specific business. Having the correct business model is very important also. This is so because it is important to go through every business model until the perfect fit is reached. The way the action plan is developed from reserve engineering success is also an attribute. This is done so s prediction of where the company would like to be in the next 5 years. Lastly making sure everything within the business plan is communicated properly. If the plan is communicated properly it is of no use.

Reference:

 http://www.sba.gov/community/blogs/guest-blogs/industry-word/attitude-adjustment-5-planning-fundamentals-every-business

http://timberry.com/about

http://www.growthink.com/businessplan

http://www.growthink.com/team/dave-lavinsky