The Art of A Successful Business Plan 

Business plans are a necessity for entrepreneurs that are trying to turn a dreaminto a reality. Many of those aspiring business owners haven’t the slightest clue as to what investors are looking for in a potential business partner. A helping hand in the form of business plan experts or workshops can make a huge difference between a successful business plan and a flop. Paul Grant and Barbara Corcoran are two such experts in the field of business plan development.

Paul Grant, in an article titled, “Why Business Plans are Not as Important as you Think”, stated he is an experienced entrepreneur and former director of Capital Partners. He is also the founder of The Funding Game and NextMentor Mentoring Program. Grant believes business plans are not what investors focus on when considering potential investment opportunities. He states that the executive summary is “the most important part of the business plan because it is what the investor will actually read if they want to invest in an entrepreneur’s company.” He gives advice on how long a business plan should be. He has found that plans should not be more than 20 pages because, “many investors do not read business plans.”

Barbara Corcoran is a television “shark”, an investor on the hit ABC show “Shark Tank”.  She got her start as a realtor, and later penned a best-selling book titled, “If You Don’t Have Big Breasts, Put Ribbons on Your Pigtails.” Barbara seconds the sentiment of Paul Grant concerning an eye-catching Executive Summary. She feels that investors receive a plethora of business plans, so the Executive Summary should be effective in telling your story. Corcoran also warns that far too many potential business owners “overestimate…(the company’s) addressable market. Instead, she gives the advice of strategizing as if 100% of your market was captured.

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Retrieved on August 4, 2011 from: http://thenextwomen.com/2010/08/26/why-business-plans-are-not-as-important-as-you-think