For the second part of my blog I will discuss what I have learned from the two industry experts I chose. The two industry experts I wrote about were Russell Simmons and Ron Conway. These two experts gave great insight on what they look for in entrepreneurs and business plans. Russell likes to make sure the entrepreneur know the industry they want to work in. Russell not only looks at the business plan that is presented to him, he also looks for the enthusiasm, creativity, determination and humbleness for the future entrepreneur. Ron Cook also looks for passion in the entrepreneur, he wants to see if they are excited about the industry they are going in, if they know they industry, and if they are ready to be dedicated to their company. He looks for the creativity in the way the presentation is being presented to him
After reading what Russell Simmons and Ron Cook looks for in a business plan looks for in a business plan I will ensure I know my industry very well, have a great backstory as to why I’m passionate about my business plan, and let my passion, enthusiasm, and creativity exude through my plan and presentation. I will show them that I know my industry but not act like I know more than they do.
The sections I consider to be the most important to the investor that is reading my plan are the financials, industry analysis, technology section, and the management section. The financial section is important because it shows the predicted future revenue of the business, and the start-up cost. The industry analysis is important because it shows the investor that you know I know the industry I am trying to enter and the trends. The technology section is important because it show that I know what type of equipment I will need to make my company successful. And the management section is important because it gives background and skills information of the management team, consultants, and advisory board
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