Writing A Business Plan

Business plans are an important aspect of any new business. Most people think that a business plan is basically to try to attract future investors for a start up business, but in reality it serves other purposes as well. 

These plans help the owner organize the business and see where they actually stand with the business.  It also serves to see if the business will actually be viable. It can also be used to see if the business is heading in the right direction.  In addition, a well-devised plan can bring people into the business, as well as possible future investors.

So, what should be included in a business plan? There are several components to a business plan. Some target areas that need to be included in the plan are: an executive statement, explaining about the business, how it originated, and summarizing the main points of the business. The plan also needs a company description, describing what company does and what makes it stand out from others. Next, is the mission statement describing the company’s goals. Also, what product and services the company is offering to potential buyers. Is there a need for this product and who is willing to purchase it? What is the company’s competition? What separates the company from the rest? Who will be operating the business? What is their role in the business?  How will the company and product be brought to the people? Finally, a financial overview of the business, such as start up costs, expenses, and projected profits, as well as how much will be needed to start the business. 

Creating a business plan is a lengthy process, “but it's essential if you want to have a successful business that's going to survive the startup phase” (Ward). It can make or break a start up business.

Reference:

Ward, Susan. Why You Need To Write A Business Plan 5 Reasons For Writing A  

    Business Plan.

    http://sbinfocanada.about.com/cs/businessplans/a/bizplanwhy.htm

 

      

INTERVIEW WITH ENGINEER DOMENICK PERIGNON

If you’re in Brevard County Florida and looking for a quality engineer, Domenick Perignon is your man.   

Me: Hi Dom, tell me where are you from?

Dom: I’m originally from Brooklyn, New York, but moved around a lot when I was young and eventually ended up in the Orlando area.

Me: What got you involved in the music industry?

Dom: I got involved when I started DJ’ing in clubs throughout NY with my brother-in-law and really liked it.

I also used to hang around some studios and started messing around with the equipment. In 2003, I moved to the Orlando area and started dabbling in recording music for fun. Realizing I had talent so I continued to teach myself and I became serious about it. 

Me: So tell me how PerignonProductions came about.

Dom: In 2005, I moved to Brevard County and started Perignon Productions where I started producing and engineering for local artist projects. I also started making my own beats.

Me: Tell me what makes your beats stand above the rest?

Dom: My beats are experimental and I stay away from the norm. I want my beats to have an original sound. I love all aspects of music and I have also ventured in crossing over genres by working on an Electronic Dance Music CD. I don’t want to limit myself to one genre. EDM is where it’s at right now.

Me: What other kinds of projects do you have going now?

Dom: These days I have a home studio and work with a group call The Snare Gang.  Our beat team consists of: Nitro, MQ, Ackeem, Adonnis, talant97, Bank Yagami

and Rio, who’s in Atlanta at the moment. We make and sell beats. Not only does The Snare Gang do producing and engineering, we also specialize in artist development. We even put our newbies through rigorous voice training if needed. We also have been setting up shows through Central Florida.

Me: What are your goals for the future?

Dom: First, I would like to have a successful self-sufficient studio. But my main goal for the future is, with the right promotion and distribution strategy we can take our music global. I believe our music can make it out of the country.

Thank you for allowing me the opportunity to get to know you and I wish you the best of luck with your future with music.

Implementing Expert Advice For A Business Plan

Starting a new business can be a difficult, but a rewarding venture. For beginners, one must come up with a business plan to provide investors to show what exactly is intended from the business.  These business plans need to be professionally laid out, concise, and leave an impact. to lure in a potential investor. 

As a record label partner, I have found some suggestions from experts in the field that I would like to incorporate into our business plan to ensure a successful investment.  According to pitch expert and advisor, Andrea Cockerton, the business plan’s pitch can either make or break a company. Our label’s pitch will have a clear message that will urge the investors to provide their services. We will also seek assistance with the pitch to ensure it will catch the eye of an investor.  Cockerton also suggested to use a company that can assist with developing  a successful pitch. Our label will possibly look into using this to better our chances for an investment.  She also emphasizes not to wait till a company is starting to go broke to begin looking for money. My label is already working on trying to find backers willing to invest, if the opportunity is available. We will begin our search with family, friends, and grants. 

Other  vital advice offered by business plan expert, Angelo Menguzzi, is that “those who fail to plan, plan to fail” (Meneguzzi, 2012) Our label has begun to create a plan for our business that will map out our agenda and to have better understanding of potential problems that could arise.  We are also creating this plan to have an advantage when we are ready to seek future investors.

After researching suggestions from top business plan experts and taking a business plan class to assist with the preparations, our plan will definitely provide our label with investment probabilities that otherwise would not have been  available to us.

Reference:

http://www.spoke.com/people/angelo-meneguzzi-3e1429c09e597c1003744c5d

EXPERTS ADVICE ON BUSINESS PLANNING

The first business plan expert is Andrea Cockerton, a pitch and fundraising consultant from The United Kingdom. In 2005, she founded Mudhut, a pitch consultancy  “to help entrepreneurs that are looking for funding their messages really effectively when they can’t afford to get it wrong” (YouTube, 2011). Throughout her career she has assisted over 500 entrepreneurs with their pitches to attempt to receive funding.

Cockerton claims that the pitch is extremely important, because it will be the first impression the investors will see and this impression can make or break the company. It is critical to create a pitch that is clear and concise and also has a message that leaves an impact on that panel.

According to Cockerton, they entrepreneur should not wait till they are running out of money to start seeking finance. She suggests the entrepreneur has several options to look for financing, such as through friends and family, grants, angel investors, VC capital, and/or VC debt. Also to be prepared because it can take up to a year to receive funding if accepted.

The second business plan expert is Angelo Meneguzzi, a business man with several years experience in the world of marketing, public relations, product development, and business development, to name a few. In addition, he works with Internet start-ups in product development, marketing, and corporate development. He also consults for Infoseek/GO/Disney, as well Upside Magazine and ABC News.

Meneguzzi claims that having a business plan for a start up business has many benefits. First, a plan offers “heads up to changes in the environment. It also offers better forecasting and opportunities to analyze situations before they become problematic” (Meneguzzi, 2012). In addition, he stresses the importance of a business plan by cautioning “those who fail to plan, plan to fail” (Meneguzzi, 2012).

Business plans a vital for any business. Take these experts advice when contemplating whether to have one or not.  

http://www.bplans.com/ask-bplans/572/why-have-a-business-plan

http://articles.bplans.com/author/angelo

http://articles.bplans.com/author/angelo#ixzz2sqpcltp

http://www.spoke.com/people/angelo-meneguzzi-3e1429c09e597c1003744c5d

http://www.youtube.com/watch?v=Jf6Pg7fTtNI

http://www.mobicamp.ch/01-11-2012/speakers/andrea

uk.linkedin.com/in/thedowsingsoundcollective