In this post we will be focusing primarily on the business side of information. I will be talking about a few popular business people and their knowledge and feelings about business plans.
The 2 people I will be talking about are Donald Trump and Paul Grant. So without further ado, let’s get started.
Donald Trump –
Born in 1946, Donald Trump grew up in Queens, New York. After being sent to a military academy at the age of 13 and graduating at the age of 18 he went on to earn a degree in economics from the University of Pennsylvania, graduating from said college in 1968. After college Donald decided to join his father’s real estate company. After that, Trump went on to become the business mogul we all know, from building Trump Tower in 1983 to building his net worth to an estimated $2.7 billion dollars by March 2011.
Donald Trump on business plans – He tells us that with a business plan there is a direction and a focus and that without a business plan, you are bound to fail.
Paul Grant –
Paul founded and ran a London catering business for seven years, marketing towards corporate and retails customers primarily. He assists small businesses in the early stages and is also the associate director of BA Capital Ltd. and Bergstrom Capital. Paul is also the founder of The Funding Game; a seminar series that helps starting small businesses learn to get started on the correct financial path.
Paul Grant on business plans – Paul Grant has said that, “although huge amounts of time and cash are spent churning out detailed business plans for potential investors, I found that very few were getting read.” He goes on to ask, “So does that mean you don’t have to write a business plan when seeking investment for your business?” He then answers, saying, “Sorry – I wish I could say yes. Investors still want to see some reassuring figures and words that demonstrate you have thought through your market, the need you are trying to meet and how people will find and pay for your services. But here is the good news: your plan does not need to be the soul-searching, nine-month, 100-page ordeal it was for me – and for many entrepreneurs seeking funds for their new ventures.”
So we see from 2 different points of view that business plans are key components that investors are looking for. With Trump a business plan is key because, in his view, you will completely fail without one. With Grant however the business plan is a key component merely because it reassures investors that you in fact know what you are talking about.
I hope you have gotten some useful business information from this post. Until the next one, have an animated day.
Sources:
Paul Grant Info - http://thenextwomen.com/2010/08/26/why-business-plans-are-not-as-important-as-you-think
Paul Grant Bio - http://thefundinggame.co.uk/default.aspx
Donald Trump Info - http://www.associatedcontent.com/article/1634723/ten_donald_trump_business_tips_for.html?cat=3
Donald Trump Bio -
Donald Trump Pic - http://www.chartingstocks.net/wp-content/uploads/2008/11/donald_trump.jpg
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