Dr. Steve Gedeon & Angelo Meneguzzi

              Drum Roll Please…This week I will be talking about business plans. Yes you heard me correctly, business plans. The cool thing about business plans is the passion that lies behind the idea. I believe that it’s the passion followed by the numbers that sell an idea.  But, let’s look into what two experts have to say about business plans.

            Dr. Steve Gedeon was the 1^st place prizewinner of the 3E Learning Award for his workshop Investment Negotiation, as well as a professor in Entrepreneurship & Strategy at the Ted Rogers School of Management. I looked into what Dr. Gedeon had to say about business plans because he highlights the easy things people tend to forget about when working on their business plans. He focuses on two simple questions, what is the business and whom are you selling to. It is easy to over complicate a simple idea. It is also very simple to forget to target your audience. Targeting the right audience is crucial because the efficiency of your business solely depends on that. However, one thing that he indicates as being one of the most important things is the executive summary. Like I said, passion behind the idea sells the business. Looks like Dr. Gedeon and I are in the same boat. He says the executive summary is important because that is what makes you credible as an entrepreneur and worthy of an investment. Aside from Dr. Gedeon, I would also like to share someone else’s insight.

            Another expert on business plans is Angelo Meneguzzi. Angelo Meneguzzi has more than 10 years of experience as a professional in the entrepreneurial world. He talks about how continuing research is so crucial to business plans. In other words, just because you finish up the actual document does not mean research comes to a halt. I think that is important. No research is a waste of time in my eyes. You can learn how to be more efficient through more research and the more you research the more accurate your forecasts and audience will be.

            I hope you enjoyed my post on business plans. Till next time.