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.
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