My recent blog focused on Oprah Winfrey and Robert Kiyosaki and what they looked for in business plans and their key business strategies. Both of these individuals are two people I admire in the entertainment industry and the real estate industry. From researching them in my previous blog, I learned what to take away and put in to my business plan. Even though I am writing a children’s book series, I plan to incorporate their savvy business skills into my plan to help find investors for my product. It is by having a good vision of my product and a detailed financial report in my business plan that will help in attracting the right investor to invest in the children’s book series. These are two key points that Oprah Winfrey and Robert Kiyosaki pointed out in their business plans and is something that I am incorporating in my plan.
As an investor, Tim Berry’s article from Palo Alto Software sums up what makes a good business plan and the steps needed to determine the action of the plan. His article places an emphasis on what is needed in a business plan. His attitude about writing a business plan is to be realistic, be specific, be clear, communicate, commit and keep it alive. Tim’s attitude on how business plans should be executed is similar to Oprah and Robert’s ideas.
In my opinion, the most important section of a business plan for an investor to look at is the return on investment. The investor has to love the idea in order to invest their money into the business. However, when investing money into the business it is essential to see what the rate of return is on the investment so, the investor has future projections of what they will get back from this investment.
Sources
Gomstyn, A. (2010. March 5). Suze Orman vs. ‘Rich Dad, Poor Dad’ Guru: He Tweeted, She Tweeted. ABC News. Retrieved from
http://abcnews.go.com/Business/suze-orman-robert-kiyosaki-twitter-dispute-financial-advice/story?id=10001293&page=2#.TuivxJjAefQ
Palo Alto Software. (2009, February 18). 8 Factors that Make a Good Business Plan. Tim Berry. Retrieved from http://timberry.bplans.com/2009/02/some-key-questions-on-business-plans.html
Strategic Business Team. ( 2010. April, 7). Oprah Winfrey: The Most Famous, Richest Black woman in the world. How to Start a Small Business. Retrieved from
http://www.strategicbusinessteam.com/successful-entrepreneurs/oprah-winfrey-the-most-famous-richest-black-woman-in-the-world/
