In searching for an expert on the value of a business plan, I discovered Dr. Steven Gedeon. According to http://www.icsb.org/article.asp?messageID=128 page1¶ in 2009 Dr. Steven Gedeon was the 1st place prize winner of the 3E Learning Award for his workshop Investment Negotiation.
Dr. Steven Gedeon is a bonafide expert on business plans writer and reviewer.
Page 1¶1 Steven A. Gedeon, PhD (MIT), MBA, is a professor in Entrepreneurship & Strategy at the Ted Rogers School of Management.
He has founded or led over a dozen private, public, venture capital and non-profit organizations; published over 100 articles, reports and patents; and delivered over 40 public speaking engagements and on-line videos on personal leadership, motivation, entrepreneurship and teaching.
What is the business? and whom am I selling to? are a few of the critical components to a business plan. What is the price point for the product and services the company offers and who are the competitors and how the business that is being planned is different from the competitors? All of these issues are importance to know ahead of time to measure effectiveness and to prevent a business from failing and making avoidable mistakes.
The most important component is the executive summary and what are the qualification of the management team, the overall business idea and the financials.
The key element to a successful business plan is does it have creditability and is their a guide to action.
Every plan should have a plan to action based on the audience that you are targeting.
Courtesy of Arthur Richardson