Experts Views on the Value of Business Plans

Hi everyone, first of all I want to say thanks for supporting my blog and your comments. Today I will be talking about “Experts Views on the Value of Business Plans.” The experts that I choose are Steve Blank and Carlos Slim. Steve Blank

is known for developing the Customer Development methodology, and for been the co-founder of E.piphany. Blank teaches and writes about Customer Development and is a consulting associate professor of entrepreneurship at Stanford. Schools like Haas School of Business, University of California Berkeley, Columbia University, and the California Institute of Technology (Caltech) are the current schools were he lectures at. Carlos Slim is a Mexican business magnate, investor, and philanthropist, which have been ranked as the richest person in the world from 2010-2013 by Forbes. Carlos Slim interest’s are in the fields of communications, technology, retailing, and finance. Actually he is the chairman and chief executive of telecommunications companies Telmex and América Móvil. In 2010, América Móvil was Latin America’s largest mobile-phone carrier, accounted for around US$49 billion of Slim's wealth by the end of 2010. As of June 2013 Carlos Slim corporate holdings have been estimated at US$66.8 billion.

Writing and having an effective business plan is crucial to implanting confidence in potential investors that the business is a feasible concept with capable people to run it. There are several key components that a business plan should have in order to meets the demands of investors. These key components are an executive summary, marketing plan, competitive analysis, key personnel and alliances along with projected financials. The size and possibility of your business plan will depend on your specific goals. If you’re planning it for investors, the plan should be more detailed. You have to clearly explain your concept and where it fits in because potential investors might not be as familiar with your industry.