Business Plan Tips: Part 2

Hello again. In my last post I looked at some expert opinions in the world of business planning. I looked at Donald Trump and the professionals at GrowThink.com  for sources of business plan information. Now it is important to look at the advice of these individuals and how to apply it to my plan or to your plan.

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Donald Trump had a few key pieces of advice that I examined in the last post. The first was to find your passion. This idea is arguing that successful businesses and business plans come from an individual that is extremely passionate about the project. This has already been implemented in the book I am writing, The Official Fantasy Football Bible. I am extremely passionate about sports, particularly the NFL, and the game of fantasy football.

Trump also stresses the importance of finding the right target market. He talks about the intense study and research period that must take place before selecting a target. I have already undertaken a main portion of this process. Looking at websites that host fantasy football leagues was a major source of target market generation in this plan. I was able to look at specific demographic and social traits of individuals who were playing the game.

The fine people at Growthink.com stressed a high level of protection concerning intellectual property when forming a business plan. I intend to keep the content of this book in the book and in my mind. The only things that will be showed to possible investors, literary agents, or publishers will be a general outline of the work and one sample chapter. This way people can see what the project is about without me giving away all of the content within the book.

Once again, in anything you do it is important to look at the people who have done it before and see if they offer any advice. There is no supplement for experience so it always helps to do your research. AS it pertains to business plans, looking at the advice of the professionals and learning how to apply that to your plan can be the difference between success and failure.