Our assignment was to interview different generations of people for the purpose of understanding the differences in their ability to adapt to and execute the use of ever growing technology.
In conclusion, I have learned that if my business it to prosper in this society, we must take advantage of the technology that has become available to us. It is not enough to have a computer that sends out email notifications, it is important to have constant contact with our customers. Our world is changing every day. We have to realize that a phone call or a postcard is becoming a prehistoric form of communication. I do not believe that these forms of communication will ever disappear, but like fossils, we will only be able to dig them up and utilize them every now and then.
Activity 11- Business Plan Development
In our final class we were asked to study the professional opinion of two business plan developers to see what it was that they considered to be the most important part of business plan development.
Through this assignment, I learned the importance of telling your compelling story. While it is important to have financials and other elements in line, to an investor, it is also important to solve a specific problem for a specific customer. Along with solving specific needs, you must maintain focus. Many business plans start off with an understood idea and plan, but they can also lose there focus. Therefore causing an investor to lose interest in funding a well put together project with a person who can not maintain focus.
Finding a niche business is the best way to ensure that money can be made. By discovering a niche market, you reveal to the investor your potential to work. Finding a niche market is a difficult task, and by discovering a market, as well as a viable product proves your ability to do research and see the potential to create revenue.
Lastly, The DNA is by far the most important part of the business plan. The DNA being the financials. Turning down a well thought out, focused idea with the financials in order is almost impossible for an investor to do. Especially when they see the potential to make money.
No comments:
Post a Comment