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Business Plans That Win $$$: Lessons from the MIT Enterprise Forum Paperback – February 18, 1987
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Business plans, however, are needed and should be used in many other business situations including sole proprietor startups as well as established companies aiming to launch special projects, new products or other ventures.
The good news about this book is that
It is easy to read
It has sound wisdom to impart to virtually all who are considering the preparation of a business plan
It steers the reader away from "forms" (fill in the blanks formats & software) as well as sample plans.
On this last point the authors write: "Sophisticated investors disagree strongly with such "cookie-cutter" approaches to writing business plans simply because the financiers believe that each business is unique, with its own special marketing, sales, production, and other issues." If the book convinces the reader of this key point it will have performed a great service.
From my perspective the content covers all of the important issues that make up the business planning process. The advice is very sound if you can make appropriate adjustments for your particular business situation. Conveniently each chapter is neatly and briefly summarized with the key points to be retained by the reader.
Virtually all entrepreneurs need to sell their business concept. It may be to family and friends, to key customers or suppliers, to potential partners, private investors or key employee prospects and to one or more lenders. All potential entrepreneurs should read the final chapter titled "And Now It's Show Biz". This chapter tells how to cap off an efficient and effective business plan with an equally effective oral presentation.
For the book's primary audience this post-plan interview procedure is critical in securing venture capital funding. The advice contained in this last chapter, however, can be applied by any entrepreneur talking to any important audience (with appropriate adjustments). This chapter is, as the saying goes, "worth the price of admission."
Highly recommended as the "one book" if you should limit your reading to just one.
If you are already in business it may be time to actually go back and start with your current knowledge and grow with a REAL plan.
As a business consultant I have seen 90% of solo-business owners fail to make the important investment of making a plan.
I feel that is because they just do not know how awesome it is to really connect with the PLAN.
This is often overlooked as old-school but I still pull it from my shelf and review in mastermind sessions, and class presentations.
If you consult- this should be on your reading list. If you are ready to take in new insight- bring it on.
There is a nugget for everyone in here.
Each chapter addresses an aspect of the planning process and gives anecdotal examples of plans that were presented to the MIT forum. The summaries at the end of each chapter help expedite the annual review.
I cut my teeth on Mancuso's various B-plan guides almost two decades ago and this book, by far, gets you where you want to go in the most direct manner. If you only want one book on B-planning, this is it.
After working through all the issues in this book, you will have thought about all the issues that are essential to your business's success.
Most recent customer reviews
It is an easy and interesting read that is sure to improve your business and the business plan