In the previous posting, two experts were profiled for their expertise in creating a successful business plan. The two experts profiled were: Andrea Cockerton and Angelo Meneguzzi. Each expert applied different tools in order to create their respective business plan models. Those tools utilized will be discussed within this posting as tips for creating a business plan.
Some techniques applied by Andrea Cockerton were applied to the creation of my business plan. Three specific techniques were: 1) Targeting a growing market, 2) Having a groundbreaking product or service and lastly, 3) Asking for money from investors. These aspects were applied to my own business plan creation regarding a youth development service program for inner city youths.
With school physical education programs slowly deteriorating across the country, the youth program would serve as an outlet for a market in need. Serving as a consultant company to professional athletes, a percentage of revenue generated from services rendered, will assist in sponsoring sports camps, summer tournaments and monthly business seminars. The business seminars will serve as professional advisement to local sports organizations focusing on proper business infrastructure, marketing and creative ways to raise the community involvement with their youth.
The money asked from investors will solely serve as start-up money for company operations and marketing opportunities for the first few months of the company existence. Angelo Meneguzzi has a talent as a consultant for forecasting the future in business opportunities and development. In accord with the assignment, our business plan is developed for forecasting an area of need within the country. Numerous outlets have been attempting to search for the necessary funds in order to keep their schools physical education a float. With a successful sports consulting company, urban and rural youth communities will be funded countrywide.
The most important aspects of a business plan are the financial statements and the marketing plan. The financial statements showcase where exactly the liquidity created is being spent, saved and borrowed. This also shows if whether the business will be profitable. The marketing plan is also a key aspect of the business plan. This shows how the company intends to market their target market, what type of market the company intends on targeting and the need of the product or service within the market.
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