When discussing business planning,
there are fewer with as extensive of a background as expert Tim Berry. Currently the “business plan expert” of
Entrepreneur.com, Berry has formulated quite the resume in the field, having
earned degrees in Business, Journalism, and Literature from prestigious
universities such as Stanford, the University of Oregon, and the University of
Notre Dame. In addition, he is an author
– penning several books on business planning and entrepreneurship, as well as a
former journalist – having written articles for Business Week, Financial
Times, and other publications, and currently blogs on his main blog –
Planning Startups Stories (Berry, T). Berry is keen on a business planning method entitled
“P-R-R-R cycle,” which stands for “Plan, Run, Review, and Revise,” and is a
practice used routinely when running a business to sustain smooth operations (Berry, T).
Along with
Berry, business plan expert Taylor Johnson is an experienced Entrepreneur,
having founded three successful businesses including Uncle Chen’s Cuisine,
Christina’s Design, and Kids and Co. Johnson has over 20 years of knowledge and
expertise in the field, currently penning informational pieces on the Business Plan Today website. When it comes to the elevator pitch, Johnson
comprised a list of seven easy steps, which include team management, financial
projections, and market analysis, are helpful in explaining the company
business plan in a timely manner (Johnson, T).
The
suggestions I intend on using for my business plan is providing in-depth
analysis on my elevator pitch, breaking down all aspects and finding the proper
balance of having a well-informed pitch without over-saturating the business
model. In addition, market analysis is
another key aspect within the business plan, as these statistics provide
valuable insight to investors about the competition within a particular
industry. For a seed company, there are
countless questions, goals, and objectives and gaining incredible knowledge
from business plan experts is a great asset in answering those particulars to
investors.
Berry, T. (n.d.). Business Plan Expert. Retrieved August 7, 2015, from http://timberry.com/business-plan-expert/
Berry, T. "Help With Business Planning." Tim Berry. Web. 7 Aug. 2015. <http://timberry.com/businessplanning/>.
Johnson, T. (2014, November 5). The Ultimate Elevator Pitch: Get Funded in 7 Easy Steps. Retrieved August 7, 2015, from https://resources.businessplantoday.com/funding/ultimate-elevator-pitch-guide/
