The Bailey Business Plan

There have been many interesting approaches to business planning.  On one side there is the approach to seek funding fast with a well-written business and marketing plan.  This is an approach that is supported by Andréa Cockerton an expert in the field of business plans.

There is also a thought by featured author Chuck Blakemon who believes it is important to just start working the business instead of doing too much planning ahead of time.  Blakemon believes that no one can accurately tell what will happen in the future daily life of the business. 

These are two different and highly debatable ways of thinking.  The big question is “how to incorporate the best of the two?”  I feel that both approaches have merit.  It is very difficult to predict what is going to happen once the doors of your business opens for the first time.  It is not possible to plan for the unknown as Blakemon suggests.  Therefore it is important to play devils advocate to your business plan. Try your hardest to shoot holes in it.  It may not be completely perfect, but it will make the plan stronger.  I plan to use both schools of thought in my business plan.  This will make the plan stand up.  Of course Andrea’s frame of thought is perfect for  seeking funding. Investors want to know that you have thought the business through.  It is understood that even with all of the proper planning, the business could fail, but without proper planning the odds of failing are more in favor. 

I have made changes to the financial and organization sections based on the thoughts made by these two.  This is the most important sections.  It is important to understand the business before you start the business.  Having a strong grasp on the monthly financials and how the company will make money is very essential.

Two Business plan professionals.

Andrea Cockerton

Andrea is a British advisor who has devoted her work in helping companies develops their pitch to future investors.   Her career has consisted of working with well over 350 entrepreneurs.  She has become an expert in developing ideas to help small companies get funding from venture investors.  She holds workshops and hosts networking events in the United Kingdom. 

Andrea has shared information showcasing her knowledge of creating a successful business plan with many companies. Andrea feels the importance of asking for money is very high before there is no cash left. “Going to investors at too late a stage is a risky strategy, Better is to look at the long-term objectives and aspirations of the business and plan the fundraising sensibly into this long-term strategy,” (http://www.thenextwomen.com/(2008)  The business plan should answer the question of why it is important and how will it make it amongst it’s competitors.

(bpexpertviews.blogspot.com(2013)

(www.thenextwomen.com(2008)

Chuck Blakeman

Chuck Blakeman has a special approach to business.  His approach has influenced thousands of small businesses in the way their owners carryout their planning. He is noted for starting five businesses that very in complexity, and a couple of non-profit organizations.  He has been the speaker at workshops and engagements numbering at over 100, and has been quoted by NY Times.com, CNN Money.com, and Entrepreneur Magazine.

Chuck Blakeman specializing in getting businesses started without a business plan.  This is a highly controversial argument.  Most investors want potential owners to predict how the company will do in the future.  Chuck believes that it is a waist of time trying to play fortuneteller, when you can actually be doing business.  Life always gets in the way of the best plans.  Everyone knows where they want to go in business, but no matter how well things are planed we often have to change those plans and adapt to life.

(chuckblakeman.com(2013)