What I learned from Addisalem

A few points that she made were very interesting and also were not mentioned in the text book. Some key components that she gave to building a business plan were:

Keep your team diverse - - be sure your team is made up of people specializing in all areas of running a business- accounting, construction, marketing, etc… This will eliminate outside parties influencing the business plan.

EDIT, EDIT, EDIT, EDIT, EDIT, EDIT, EDIT, EDIT, EDIT, EDIT, EDIT

Perform questionnaires/surveys - -conduct these studies to ensure numbers being presented are as ac curate as possible.

You must have an Executive Summary- - when writing a business plan and presenting it to potential investors, you must have an executive summary. This tool allows investors to review this portion of the plan to see if it is what he/she is looking for, they can then decide to read further if so desired.

I also learned what an aggregate chart was - - it is a summary of more detailed yearly charts - - usually found in the appendix section of your business plan.

And lastly, always have an exit strategy - - Potential investors want to know/ see how there will be a maximized attempt to make sufficient use of the venture should it fail. A plan ``B``.