Dave Lavinsky and Jay Turo
Lavinsky and Turo used their market research, finance, and small business backgrounds plus their recently gained MBA skills and mentalities to systematically help these entrepreneurs succeed. Since that time, Lavinsky and Turo have built Growthink’s team, client base, and service and product offerings in pursuit of their mission of helping all entrepreneurs succeed. http://www.growthink.com/about-us
Dave is an internationally renowned expert in the fields of business planning, capital-raising, and new venture development. Over the past decade, Dave has guest lectured at top universities, developed over 100 business plans, and has written hundreds of articles on entrepreneurship, business planning and capital-raising.
According to Dave Lavinsky there are five attributes of successful business plans. Lavinsky states that there are two reasons why companies develop business plans, to determine the optimum strategy and game plan to grow their business and to raise money. He goes on to say that most plans fail to raise the money needed to get the companies up and running. SBA loans have decreased by 56% over the past 3 years.
The 5 Key attributes of a winning business plan according to Lavinsky is:
1. The right overall value proposition
2. The right marketing and sales strategy
3. The right business model
4. Action plans developed from reverse engineering success
5. They are communicated brilliantly
Founder and chairman of Palo Alto Software and bplans.com, co-founder of Borland International, author of books and software on business planning, Stanford MBA. I believe in business planning but I don’t think a business plan is a document. I’m now chairman of Palo Alto Software, which in my case means blogging a lot, of course, also speaking, writing books, teaching, and helping you with business planning and entrepreneurship. http://timberry.com/
Tim Berry states, “The value of a business plan is measured in money”. Business plans are viewed as generic, but business plans can be utilized to get funding from investors, as well as being used as guidance for the company only. He states that there are 8 factors that make a good business plan:
1. It fits the business need
2. It’s realistic, and it can be implemented
3. It’s specific, you can track results against plan
4. It clearly defines responsibilities for implementation
5. It clearly identifies assumptions
6. Its communicated to the people who have to run it
7. It gets people committed
8. It’s kept alive by follow up and planning process
A business plan should be followed an updated regularly to benefit the company. The most important part of the plan is, if it fits your need and is it realistic. Following the plan can help the company run smoothly. Berry states that, “ No business plan is good if it’s static and inflexible”. A good plan is communicated to all parties involved in executing the business.
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