Hey gang,
Chris French here from Modern Midwest Entertainment. A few weeks ago I discussed in this very blog about what investors are looking for in new businesses. Well, since then, I have been reading and rereading the things the investors are looking for and what I need to appeal to them. A business plan is the most important thing, and I have been working on that for the last few weeks now. In my previous blog, I talked about a man named Ben Botes. He is a business expert from the United Kingdom and has a ton of business experience. One piece of advice that Mr. Botes offers in his blog that I have been working to adhere to is this: Have a strong business plan that is comprehensive, yet "Short and sweet". Getting to the heart of the matter, and giving the investor the nitty gritty of the plan is what I want to do. This way, the investor gets a real sense of my business and I will have a better than average chance of snagging an investor for my business.
When I first started writing the business plan for the comedy/live entertainment venue that I'm working on, I'll admit, I was being very wordy. After I reread Mr. Botes blog, I realized that I was shooting my mouth off and needed to pare down my business plan. Originally, my plan was over 10 pages long, and now I've pared it down to roughly eight. THAT will make my plan quicker and easier to look through.
In evaluating my plan, I had to decide what sections of the plan I thought were most important. Well, in my honest opinion, the marketing plan is the most important part of the plan. Without an effective marketing and promotion plan, a business is not going to get any traffic, period. With the marketing plan, the business has a concrete plan of action to bring people to the business, website, blogs, social media and such. Every other section of the business plan IS important, as it describes every aspect of the business, but without marketing, a business is just a hobby.
Until next time gang,
SEE YA!
