Business Plans The Experts Part 2

During my research to add insight on how to formulate my business plan, I viewed many business plan experts point of view. Of these experts, I found the advice of Chuck Blakeman and Steve Blank. Firstly, Chuck Blakeman has very different approach to being a businessman. Chuck Blakeman critical acclaimed business speaking has over 100+ speaking engagements and workshops per year, he has been quoted in Entrepreneur Magazine, NYTimes.com and many more. Chuck believes that life just happens no matter if you have plan or not. Life gets in the way of the best plans, and no matter how well we plan how life changes can alter your plans. He indicated other businesses that started without a business for example Apple, Google, HP, 37signals, etc. He mentioned that most successful businesses start having a one vision but end up starting another company. Lastly, I agree with Chuck Blakeman because of life constantly changing individuals may change their business plans. Secondly, Steve Blank theory was business models generate a lot unknowns but a business plans has a set destination. Steve Blank mentioned simplest way to think about is that in a startup no business plan survives first contact with customers. Moreover, even took it a step further indicating business plan competitions are good for school but bad for students. Steve Blank believe that a business plans can be judged for numerous factors. He mentioned that “judging will not include such factors as: market opportunity, reward to risk, strategy, implementation plan, financing plan, etc.” Moreover, he also indicated that most schools have business plan competitions so the school can appear relevant for the students, donors, and faculty. Steve Blank only agrees with business plan competitions with a business model instead of actual business plan. Lastly, I agree with both Blakeman and Blank as it pertains to having a business plan. In most cases many businesses that made it as a top 500 Fortune Company didn’t even have a business plan. My philosophy is if you work hard, stay determined, and  keep God first the sky is the limit.