Business Plan Improvements

When it came to business planning, I had an idea of what I wanted to do but I did not know about the resources that I had to research.  The possibilities always stayed in front of my thought process of making my business plan but I did not realize the mistakes that could or will happen.  From the last post, Cheryl Snapp Conner from Forbes stated that leader of a business need a strategic perspective.  I learned that if I don’t have standby answers or resources in hand, my business would fail.  In my business plan, I went into detail about my customer will be obligated to do when we discuss the agreement before the recording starts in the studio.

From the last post, Judy Robinett, from the Forbes website, talked about moving forward after having failures.  I learned that businesses change, and with that, customers change their ways of acquiring what they need.  It is important to stay consistent and up to date with trends in my industry.  In my business plan, I had to update and add some features in the long-term opportunity category.  For instance, with my company, it is best that if a type of music is popular, it is our job to be creative and differentiate ourselves from the normal music.  Carlos Slim from a Second and Park article stated, “True corporate creativity can be helpful to both business and society.”  I learned that it is best to accept change and to add something new to the change.

I want investors to look at my company’s strengths.  Although we provide some of the same services as my competition, we have a few differences that can bring in more customers.  I also think investors should look at my technology category.  Some of the equipment that is needed to run a recording studio I already own.  I would need funds to get some of the outboard equipment that I don’t have so I can compete with the other recording businesses.