Dave Lavinsky
Dave Lavinsky, a holder of a Bachelor and Master degree, is the founder and president of ''GrowThink", a Los Angeles based consulting firm and "GuidingMetrics", a company that tracks KPI's that help businesses grow faster since 1999. Known as a He helps future and potential entrepreneurs develop business plans among many other things. Lavinsky also has a background of guest speaking at top universities, developing over 100 business plans, and has written numerous articles on entrepreneurship, business planning, and capital raising.
His book "Start At The End: How Companies Can Grow Bigger and Faster by Reserving Their Business Plan" has landed in the hand by thousands of people as it implements some of the most useful strategies a business owner can think of. Those strategies are:
1. Creating Vision Statements from a customer and business perspective that increase your sales and profits.
2. Systemize your business and minimize mistakes.
3. Improve performance and productivity of your employees.
4. Increase your conversion rates and the lifetime value of your customers.
With these and more, Lavinsky gives advice about four essentials business plans tend to overlook. Those include:
1. Company Description - A one line summary of what your company does.
2. Financial Model - Summary of finances, investments, and sales projections.
3. Risk Mitigation Milestones - Risks & Action plan for milestones achieved. "For every milestone your company achieves, the risk of investing diminishes significantly.
4. Unique qualifications for success - Personal Qualifications and Ideas.
BP Expert Views
Start at the End
Grow Think
Bloomberg
Forbes
Carl Schramm
Carl Schramm, a holder of a law and Bachelors' degree is the 16th person at Syracuse University hold the title of Professor and President of the Ewing Marion Kauffman Foundation. He is a recognized leader in entrepreneurship, innovation, and economic growth. He has founded/co-founded many companies in the fields of healthcare, finance, and information technology.
In relation to business plans and entrepreneurship, Carl mentions that business plans aren't useful because they go out of date quickly. Instead he focuses on the characteristics of an entrepreneur and what it takes for one to have a successful business. Some of those characteristics include:
1. Working in a job they didn't like.
2. Working in multiple places and fields.
3. Thinking in terms of disruption.
4. They know a lot of facts and information.
5. They are an outsider.
6. They see things differently.
Resources:
Both experts have good point of views and advice on entrepreneurship and business plans. As I continue to work on my business plan I will implement ideas and strategies especially with those that help minimize mistakes and maximize profits.
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