Business Plan Review

            After writing my blog on the business plans specialist, I started thinking about my own business plan.
             I noticed that I really had to put my idea I paper because everything in ones head always sounds good but when you put it on paper it doesn’t quite work. I noticed that my business plan really needed a lot more structure and organization. My whole concept for a video game consulting firm was really all over the place, I want to do everything and I wasn’t thinking about the cost behind it. See for a business to work it’s very important to have everything organized, even the money, because one mistake can really ruin the business as a whole.

             When an investor takes a look at you business plan the first thing they are going to look at our your financials. They want to make sure that the numbers you have on your business plan are not to over the top or fictitious. If they are going to investor their own money into your business they need to know that they will make their money back ASAP. They also look at how you are as a business owner, they ask questions about your financials and business to see if you actually know what your doing. They least they want is to give their money to someone how doesn’t really know what they are doing.

            When writing a business plan its very important to have in mind what the investor are like, what their interest are, and what they look for in a new business venture. I know I said in my previous blog post that a 70% of businesses don’t start with a business, but my question for you, is if knowing the percentage of companies that start with no business plan, is this why most business’s don’t make it past the first year? Or does this really have nothing to do with it? In my opinion I do feel like not having a business plan before opening your business is not a very smart idea. Like I mentioned before an idea always sounds good in your head but once you put it on paper it just doesn’t sound or look the same. I would really love to read your opinion on this topic, in the comment section below.