Wednesday, January 28, 2015

Business Plan Development – Full Sail University. The Course in Review.

A business plan is a critical step in the launch of a new enterprise. It takes weeks, if not months, of extensive research in order to prove that there is a viable market for an idea, a detailed analysis of the physical and human resources required, consideration of legal issues and capital acquisition requirements, marketing and selling techniques, and much more.

In the end, a business plan, no matter how thoroughly constructed and reviewed by the entrepreneur, is just a starting point or recipe, and it must be adaptable.

Some companies never bother to create a business plan. Others create a business plan only to find out that some circumstance, such as a barrier to entrance or a new and unexpected competitor cause them to quickly revamp. However, with a plan already in place, adapting is much easier than starting from scratch.

My original goal for the Business Plan Development course was “to provide the framework for my final business plan.” I have accomplished that, although there have been many changes along the way – changes I believe were necessary in order to achieve Mastery in the Entertainment Business. And, without reservation, I submit that there will be many more changes even after the plan is “completed” next month.

In the new economy, “pushing” a product on a consumer does not work. “Pulling” information out of consumers so that your company provides them with what they want is the new mantra. Therefore, at the heart of any business plan created in the near future should be the question: “How do I provide my customers with what they want, and not what I have to sell?”

For those with a creative mind, the answer is more readily available than you might think.

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