Learning from the Professionals

Welcome back music heads! Last post I highlighted two influential individuals in the business plan field.  Tim Berry and CindyPadnos are two professionals who assist young entrepreneurs in their business start-up plans.  While Tim Berry has started many successful businesses and written many top selling books on business plans, Cindy Padnos is known for her investment choices and executive stills while running a business.  Since my last post, I have studied the principals taught by these professionals and have applied them to not only my own business plan for E Willz Music, but to my current resume. 

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Tim made a really good point about keeping things simple and easy to read for investors to understand.  I made revisions throughout my plan so that anyone can comprehend the true purpose of my business.  Like Berry, I now believe that getting straight to the facts of cash flow and return on investments will hold investors long enough to want to send money my way.  Padnos stated in one of her many videos that investors are more interested in the individual seeking funds.  I wish for investors to admire my qualities as a leader and businessman when it comes having others around me.  

When it comes to my actual business plan I believe that all of the sections are laid out pretty solid.  Perhaps the strongest section in that plan would be the spreadsheets that list the details and numerical factors that investors really care about.  Within these spreadsheets you will find everything from the marketing budgets to the start-up costs and to the income statements.  All of these worksheets within my plan foreshadow costs and revenue over the first 3 years of operations. For more information on how to gain investors and start up your business visit Tim’s website at timberry.com.

Live the Music. . .

Helpful Advice From Business Plan Exports!

Welcome back music heads!  Musicians who self-manage their careers are considered entrepreneurs in my eyes and your résumé should be taken seriously like a business plan.  When starting a business it is crucial to compose a strong and informative business plan because the main goal should be to grab the attention of an investor. Lets start by recognizing two experts in the fields of business plan development and investing.

The first is a world-renowned expert who is regarded as the Obi-Wan of businessplanning.  Tim Berry is a Mexico City native who has contributed to the successes of such businesses as Apple and Palo Alto Software among others.  He also is the founder of bplans.com and co-founder of Borland International. 

Berry has also published many books such as ThePlan-as-you-go Business Plan and currently maintains his own blog, timberry.com, giving helpful advice to young entrepreneurs like myself.  On his site you will find many articles describing his insight on key elements needed for a good business plan. Tim also gives great advice for seeking out investors to that will take you to the next level.

Our next expert is the highly respected Cindy Padnos.  Ms. Padnos has invested in, founded, and lead many companies to success.  Holding multiple degrees from institutions such as the University of Michigan and Carnegie Mellon University, Ms. Padnos is considered the most influential woman in the Bay Area by the San FranciscoBusiness Times.  Her expertise has lead her to becoming the CEO of business like Vivant, Acumen, and IlluminateVentures (in which she founded).

Both Tim Berry and Cindy Padnos posses strong knowledge in the building of a successful business.  Berry believes that it is more necessary to show a willingness to give up some ownership of your business when seeking an investor.  “Investors are not interested in your idea, they want a fair return on investment,” say Berry.  In one of her videos, Ms. Padnos states that a key component to an entrepreneur should be their personal qualities and whether or not they can attract great people around them.  

Live the Music. . .