Expert Views: Influence on Business Plan

After researching how investors look at start-up businesses, I have decided to make numerous changes to my business plan. As I mentioned in my last post, investors Mark Cuban and Daymond John have similar views on what is important when it comes to deciding which business plans to invest in. Cuban believes a unique product, a motivated and educated team, knowledge of the market, and a demonstration that the big dream can work in practice are all necessary when presenting a plan to potential investors. John requires a road map for the business, which includes all of Cuban’s views.

After considering Cuban and John’s expert opinions, I have further developed my business plan to exemplify an even more unique product. With the major problem of current and former NFL players declaring bankruptcy, providing a product that helps prevent this can become a major competitive advantage when it comes to recruiting clients. Adding experienced and highly educated financial professionals to the consulting group and advisory board will help investors get a better sense of the quality of the agency’s overall services. By providing their names and a short list of credentials, the investors will be able to visualize the recruiting advantage as well as how the business will be run.

I have also realized the importance of providing a detailed business plan that includes a road map to success. This is very important to both potential investors and the managers of the agency. This road map will not only help them visualize where the company is headed, it also shows what the company will need to get there. A tangible road map will transition an idea from a dream into a detailed pathway to success.

The most important aspect of this plan in regards to investors is the management section. This section will demonstrate the agency’s experience and knowledge of the market despite the start-up nature of the agency. It will also demonstrate the agency’s uniqueness and its focus on the long-term financial health and post-career management aspect of the agency’s clients. By researching investors’ business plan requirements, I was able to further refine my own business plan and turn my dream into a pathway to success.