The
first expert that I chose was Carl J. Schramm. Schramm was a professor at
the University of Syracuse. He was also the president of the
Kauffman Foundation that become the world's premier organization dedicated to
encouraging entrepreneurship and understanding the role of innovation and the
new firm formation play in the economic growth. His career started as a
founder of the nation's first research center in health care costs at Johns
Hopkins University. Schramm also co-founded several companies specializing in
economic growth and development.
No matter
how good a business plan is, it is still not enough by itself to attract
investors. The key components that investors are looking for in a plan
would be factors such as the product you will be selling, the competitive
advantage you have and what your market is. These components are considered
key because they are what makes your investment successful and without a
competitive advantage it would unlikely for investors to be a part of your
plan. The suggestion that Schramm used that I will be considering for my
plan would be creating a well founded outline that will highlight what makes my
business stand out for my competition.
The
other expert that I had choosen is a woman named Andrea Cockerton. Cockerton is an independent pitch expert who
advises entrepreneurs on pitching for certain funding or strategic partnerships
that deal directly with the impact of a business. Cockerton has also worked with corporates
such as Microsoft and national law firms as well as spoken at networking events
across the country on the art of pitching.
Cockerton co-founded a business based in Cambridge, UK called
brickhandlebag.com. This company teaches life saving and self defense training classes
for women. She is currently an M.D. mentor for fresh events.
Some of the critical
components that investors will be looking for would be the investors wanting to
do a background check on yourself as well as your business team in order to
make sure that they are fully qualified in that specific area. This is crucial
if you want investors to spend money on your company. If you and your team do
not have a great reputation than they are most likely not going to invest in
your company. The more confidence that
your investor has in your team the more likely they will want to invest. You
will also want to make sure that your product has a place in the market and
that it has a great enough need so that consumers will want to purchase
it. The suggestion that will definitely
help me would be making sure that my business team is fully qualified and has a
great reputation. A failing business
that is associated with your name will only hurt your upcoming reputation so
you will want to make sure that you will make only the best decisions that you
and your team could possibly make.
References
N.A. (2012). Andrea
Cockerton. The Business Hub. Retrieved from http://www.thebusinesshub.info/guests/andrea-cockerton/
N.A. (2009). Small
Business. The New York Times. Retrieved
from http://www.nytimes.com/allbusiness/AB12322189_primary.html
Berry, Tim. (2015).
What Investors Look For in a Plan.
Entrepreneur. Retrieved from http://www.entrepreneur.com/article/79834
