Starting an entertainment company is something I am currently involved in doing. Instead of a thesis paper, this is my final assignment to earn my Masters of Science degree in Entertainment Business. In reading about the Goodwin’s in my previous post (Founders of GEICO), I have learned that I plan to run my company along the same lines, service-wise, as they did. Mr. Goodwin realized that he could offer great service at a low cost, by cutting out the middleman (Insurance, 2007). My consulting company, 2JB Consulting, plans to do the same for its clients. The company will specialize in start-up and entertainment businesses, as well as, artist development. The overall concept is to save our clients money while they are building their companies and/or brands, by educating them. Once they realize how much money my company saved them, clients will be much more likely to return.
The first McDonalds brothers Richard and Maurice McDonald opened was called “McDonald’s Bar-B-Que” (Our Company, 2011). They later restructured it and reopened it similar to the McDonalds we all know today. I have changed the structure of my business plan from being such a broad, entertainment group, to focusing on one business/service at a time. This way, I can specialize in a specific area and as the company grows, branch out into other areas. I used to be very focused on getting every branch of the company up and running at the same time, but I now understand it’s not what’s most important. The McDonalds brothers showed there is always time and room for change.
There are various sections in a business plan. An investor doesn’t read the entire business plan from front to back; they skim through to what they feel to be the most important areas. For this reason, it is important that all sections of the business plan being written are done thoroughly. I personally find the Market Analysis section to be one of the most important. According to an article written on About.com, this section “examines the primary target market for your product or service and their needs, including geographic location, demographics, and how these needs are being met currently” (Business Plan Outline, 2011). This is extremely important to an investor because they need to know if the product or service even has a market; and if so, is it big/specific enough to make a profit. If not, an investor will not want to invest their time and/or money.
Business plans can be vital to a company’s success. Hiring a professional to help write, or edit, may be the best way to go. My company. 2JB Consulting, which will be in full operation February 2012, will offer such services. Lawyers and other business professionals are able to help in this area as well. Click here for more information and assistance on writing business plans.
(Info. Sources: http://insurance07.blogspot.com/2007/09/geico-history-highlights-government.html & http://www.aboutmcdonalds.com/mcd/our_company/mcdonalds_history_timeline.html & http://sbinfocanada.about.com/cs/businessplans/a/bizplanoutline.htm. Photo sources: http://www.infobarrel.com/Small_Business_Plan_Outline_-_Materials_and_Marketing)
These articles might interest you :
Darkest before dawn, but a long night How bad is this economy? Rather than get out of bed, it’s decided to roll over and sleep on. It’s too hard.... Read moreBy Alanhargreaves
BUSINESS, CAREER, ECONOMICS, MARKETING & ADVERTISING
Startup work environments are always chaos, but they can still be great environments to work in, or they can be terrible. Whether yours is terrible or great,... Read moreBy Martin Zwilling
I saw this article in Realtor Magazine......some food for thought about what people are looking for in new home. And, reviewing what people are looking for may... Read moreBy Homesmsp
BUSINESS, HOME, REAL ESTATE
On my road to becoming a Business Gypsy, I realized many things about myself and grew as an individual. This included learning numerous crafts that have... Read moreBy Thebusinessgypsy
If you want people to invest in your idea, then my best advice is first write a business plan, and keep it simple. Don't confuse your business plan with a... Read moreBy Martin Zwilling
In this tough economy, you need to be flexible. If you have a rigid business plan in place, without any room for change, you are destined to fail. Read moreBy Thebusinessgypsy
To run any business well, people need to think critically and creatively. Critical thinking means analytical and zeroing in on the most important, valuing one... Read moreBy Combi31
BUSINESS, ECONOMICS, SOCIAL MEDIA, TECH
MOST POPULAR FROM BUSINESS
- Watch Huge List Top 10 Best Sylvester Stallone Movies List by Ritu Sexana Ritu
- Picking Stocks for Long-Term Growth by Smallivy
- 18 Year Old Domain EquipmentTrader.com Lost To TM Holder of “HEAVY EQUIPMENT TRADER” by Worldwide
- It Pays To Maintain Trusted Relationships In Business by Martin Zwilling
MOST RECOMMENDED IN BUSINESS
- Startups Providing A Service Are Difficult To Scale by Martin Zwilling
- 6 Modern POS Apps to Supercharge & Modernize Small Retail Businesses by Gaurav Tiwari
- A surprising number of users can’t recognize Paid Ads in Google Search by Worldwide
- UDRP Filed On ZL.com By German Law Firm by Worldwide