Business Plan Development Advice pt 2.

           Many believe that business plans are an essential element guaranteeing success within the business. But honestly a business plan is an out of date proposal of how one hoped a business would run. No one can forecast or predict the future of a business, but one can get to know their consumers to better serve their future needs. Entrepreneurial expert Carl Schramm believes that one should survey their market to find out who, what, and why a customer will choose their business over a competitor.

            A target market analysis is conducted through research when developing a business plan. But how can a business actually know what their consumers desire with out getting to know them.  To have the strongest and most effective business possible, start-up entrepreneurs should obtain feedback from their perspective client base. The feedback can assist business owners in developing a unique advantage and an impressive following.

            A business plan may be the formal planned that is mapped out but it is not the actual path that you take in business. Therefore we at RB Entertainment Group will take the necessary time to survey and get to know our customer base. With the rapid changes in technology and trends, we understand that our customers’ desires are most important to ensure fruitful longevity.

            Investors are interested in personal character rather than financial projections. Investors must be willing to work with a business owner as a professional individual. Therefore they expect you to be teachable and able to adapt to changes within a business, before one is willing to invest capital within a business. Investors also must ensure that they are making a healthy investment. A start-up entrepreneur that has a reputable name within their market, and a confident grasp on their consumers wants, is more favorable in the eyes of an investor.

            We at RB Entertainment Group fully understand that a business plan becomes out-of-date at the very second of completion. Therefore we see our business plan as a working document that should constantly be updated to reflect changes within the market as well as the company. By doing so, ensures strategic and competitive company growth.