Tuesday, August 5, 2014

Entertainment Business Plan Development

Today’s blog is a special presentation that discusses the importance of a business plan for a venture in the entertainment industry. The information is intended to help bring insight to using five important tips for a successful business plan. The tips were contributed by Patrick Hull a professional business plan developer. Mr. Hull has over 25 years’ experience with launching successful companies. He has financial interest in more than thirty companies and he has recently published five articles on entrepreneurship with Forbes. Based in Richmond Va. Patrick Hull is considered an expert in giving business plan development advice. Let’s jump right into the tips by Mr. Hull. The first tip offered by Mr. Hull states that it is necessary to “get rid of the fluff.” He impresses upon the business developer to not waste space on the page with filler language. He says that it is better to directly to the point so that the investor’s time is not wasted. The Idea must be clearly stated and easy to read with the facts. The second tip presented by Mr. Hull states that is better to be realistic. The business person should be honest when considering the challenges and opportunities. If the idea is strong the opportunities will stand out clearly in the plan. The challenges must also be properly reported so the investor can easily make a clear decision on the merits of the idea. The third tip is centered on being conservative when making projections. The business projections must not be hyped with flawed research. All industry projections must have a well-researched target that includes searchable stats. Over stated projection are a waste of valuable time. That brings us to the forth tip which states that the use of visuals will help the investor to see the business idea clearer.” Graphs and charts will the text to flow smoothly.” The visuals will also help to bring the business concept to life. The final tip by Mr. Hull is a reminder for the entrepreneur to be creative. A little bit of creativity will help to grab the attention of the reader and give the plan the edged. The plan must stand out from the rest by adding a quality of uniqueness. To conclude; Patrick Hull has presented five very important business plan development tips which if applied could make the business plan a success. http://www.forbes.com/sites/patrickhull/2013/02/28/5-tips-for-a-great-business-plan/

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