Business Plan Tips for The Entrepreneur in You

http://www.sidereel.com/posts/206804-news-shark-tank-s-daymond-john-kevin-o-leary-talk-season-3-shark-fights-and-the-only-business-they-would-never-invest-in (2013)

If you had a dollar for every time you heard an individual say “I have this hot new plan that can change the world” you’d probably be rich by now. Though how often do you see individuals take that first step and create a business plan?

Yes, the business plan is the ultimate way to document your big idea, and share it with others.

Today I’m going to give you some exclusive tips from experts that will help you on your search to be invested upon, and what you should include inside of your business plan.

Daymond John is a prominent figure in the business industry. John is the CEO and Founder of FUBU; he has won countless awards for his expertise in marketing, advertising, entrepreneurships, and his phenomenal ad campaigns.

On John’s website www.DaymondJohn.com, he keeps a daily log of tips in what he likes to call The Power Journal.

According to John, a solid business plan will include the following:

-       A description of the business

-       Products and services

-       Organization and management

-       An Analysis of the market

-       Financial documents i.e (Balance sheets, income sheets, cash flow statements)

These key components will show an investor if someone has done their homework, and if they know their business. The description is important because it will let you and others know what your big idea is. The products and services will include how you plan to make money from your business venture. The Organization and management section will show how your business is structured and who will be in charge. The market analysis section will show that you are aware of your niche market as well as the trends within that industry.

Daymond John has a lot of great advice for up and coming business professionals and entrepreneurs. I became familiar with him through the ABC television show Shark Tank, where he sat with a group of heavy weight investors who gave individuals the opportunity at having a panel member invest in their business.

On the cast of SharkTank is also Kevin O’Leary who is considered to be the cold hearted member of the cast.

Kevin O’ Leary is a Canadian entrepreneur, investor, and venture capitalist. Aside from his role on SharkTank, he is well known for turning a $10,000 loan into a  4 billion dollar computer Software Company.

Unfortunately, you will have to pay in order to receive his expertise on business plans. It’s all included in his new book Cold Hard Truth on Men, Women and Money.

However, if you’re interested in seeing O’Leary’s advice on starting up your business, here’s a free resource that will give you just that.

Hopefully this information was of great service to you. The question now stands, what do you plan to do in order to bring your business to life?