Sunday, March 30, 2014

Learning from the Professionals


Welcome back music heads! Last post I highlighted two influential individuals in the business plan field.  Tim Berry and CindyPadnos are two professionals who assist young entrepreneurs in their business start-up plans.  While Tim Berry has started many successful businesses and written many top selling books on business plans, Cindy Padnos is known for her investment choices and executive stills while running a business.  Since my last post, I have studied the principals taught by these professionals and have applied them to not only my own business plan for E Willz Music, but to my current resume. 


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Tim made a really good point about keeping things simple and easy to read for investors to understand.  I made revisions throughout my plan so that anyone can comprehend the true purpose of my business.  Like Berry, I now believe that getting straight to the facts of cash flow and return on investments will hold investors long enough to want to send money my way.  Padnos stated in one of her many videos that investors are more interested in the individual seeking funds.  I wish for investors to admire my qualities as a leader and businessman when it comes having others around me.  

When it comes to my actual business plan I believe that all of the sections are laid out pretty solid.  Perhaps the strongest section in that plan would be the spreadsheets that list the details and numerical factors that investors really care about.  Within these spreadsheets you will find everything from the marketing budgets to the start-up costs and to the income statements.  All of these worksheets within my plan foreshadow costs and revenue over the first 3 years of operations. For more information on how to gain investors and start up your business visit Tim’s website at timberry.com.

Live the Music. . .

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