After reviewing the two professional and their advice towards why a business plans is so important for start up companies I took both into consideration. I definitely will have an expert critique my business plan after I complete it. I understand that revisions must be made to my business plan frequently due to the advancement of technology in the entertainment industry. Staying current with trends and fine tuning my plan will produce more accurate effective results verses outdated information. It will decrease the headroom of mistakes for my business. I want investors to know I have done my research on my industry and to take my vision seriously. With other people reputation and money invested I can’t afford to begin my entity blindly. The professional aspect does increase your chances of someone financially supporting your vision because no one wants to gamble on someone that has not took self initiative. Also I truly believe that doing a business plan will help the survival and the operation procedures of my business drastically. I agree that my business plan will show investors what I’m capable of but only a small fraction. My intentions will match up with my personal values and morals to better society for a greater cause. For instances I have a very close friend that own a salon business venture with someone else and they are already experiencing major problems in the early stages of the business because they didn’t do a business plan. They really are blind and just going day-to-day trying to figure out knowledge about their business that they should have been figure out. Surely, if they don’t conduct a research assessment and put together a business plan they business life expectancy will not be long. To be honest I feel I have a better chance of managing their salon business with no prior experience because I know how to put together a business plan.
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