After doing my research on the Economic experts of Chuck Blakeman, Carl Schramm, and Kyle Murphy, in regards to
business plans, I’ve taken into account their views. I have then adopted a couple
of their ideas to incorporate into my business plan in order to have a sound
business plan for success. Some of their ideas seem odd, but there is some
truth to them, however, without a sound foundation of knowledge, these ideas
would be a waste.
One of the main things that I found interesting about
business plans from Chuck Blakeman and Carl Schramm is that they do not really
care for them. Odd, but they do not like business plans and they would be the
first to tell you that. Don’t get me wrong they do not avoid them altogether
and they feel that business plans are a great starting point to beginning a
business, but it shouldn’t become the entrepreneur’s “bible.” Meaning that an
entrepreneur should use the business plan as more of a guide than sticking to
the plan no matter what. I find this useful, because there have been times,
while formulating my business plan, where I felt something major needed to be
changed, which would end up altering the end product. If I stick by my original
business plan and ignore the major change, I will end up with something I feel
is incomplete. In my opinion, the business plan should be treated like an
outline.
The other main idea that I incorporated into my business
plan was Kyle Murphy’s idea of having a savvy team. First off, this doesn’t
mean I need to hire good people, it means that the people I hire should have
the capabilities to execute the business plan successfully. He points out that
when investors are looking at a company to invest in, they aren’t just looking
for the best return, they looking to see if the company can successfully do
what they say they can do. Moreover, they are looking to see if a company can
be experts in the field they are trying to go into. Once they know executing
wont be a problem, they’ll be more likely to invest. Therefore, in my plan I
will “show off” my knowledge of cloud-computing and make sure I hire people who
are as good, if not, better than myself.