The business
plan experts I will be discussing for this blog post are Carl
Schramm and Andrea
Cockerton.
 |
| Carl Schramm Photo courtesy of www.carlschramm.com |
Carl Schramm
holds a PhD in economics and is the past President of Ewing Marion Kauffman
Foundation and served in that position for ten years, he is also a Professor at
Syracuse University. Schramm is not satisfied with the current state of
American entrepreneurship. In his earlier years he served on the faculty at The
Johns Hopkins University. He also co-founded HCIA, a data company in the Health
Care industry. According to Schramm, “Its not because people aren’t getting
into it – it’s because they’re not being thought correctly.” Schramm, also
believes government relies too much on the Keynesian economic theory as a way
of putting people back to work.
 |
| Andrea Cockerton Photo courtesy of LinkedIn |
Andrea Cockerton
is the founder of Mudhut Consulting, a Cambridge based venture market
consultancy and several other companies, including The Dowsing Sound
Collective, which helps both first time and experienced singers with sound
design and sponsorship. Since 2004 Andrea has also worked as a pitch and
funding consultant advising the business community. According to Cockerton you
have only one change to get it right when pitching to an investor.
The first five
minutes of a plan are the most critical. This, according to venture capitalist Andrew
Anker “The first thing I read are the first two paragraphs of the Executive
Summary. (Abrams, 2010) Based on Abrams other key components are: Is the
business idea solid. Is there a sufficient market for the product or service?
Are the financial projections healthy, realistic? Other critical components
include your company’s mission statement, which describes the company’s purpose
and principles. Also the company’s strengths and strategic positioning should
be analyzed. Analysis of the company’s strengths, weaknesses, opportunities and
threats should be done to determine their position in the market they are
entering.
No comments:
Post a Comment