In my last post, I wrote about two Hollywood producers, and some of the advice they give to aspiring filmmakers. Kathleen Kennedy and Kevin Geiger have spoken at length about the film industry, and the need for a strong business sense while navigating the Hollywood waters. While I work on a business plan of my own, I have to consider the advice of these experts in the film industry during my writing.
First, and foremost, I have understood the need for a distinctive point of view in a business plan. Kathleen spoke about strong values, while Kevin talked about brevity and summarizing a plan quickly. Both ideas speak of the need to quickly create a definitive voice that clearly conveys values and intentions. Investors are looking for entrepreneurs who clearly know what their business stands for, as well as what direction their business will take.
Kathleen also believes in a hopeful tenacity in business, while Kevin has emphasized the importance of diligent research and hiring a competent team of employees and advisors.Naturally, reading about the advice of experts has led to changes in my writing. Within my own business plan, I have tried to emphasize the uniqueness of my company. I have even altered some sections to be completely sure that the theme and spirit of my company remain consistent throughout the entire plan. I usually tend to write much more than is needed as well. So after reading about Kathleen and Kevin, I spent some time editing and removing unnecessary sections so that my business plan is more concise.
I have also come to believe that certain sections of a business plan are more important to investors after researching Kathleen and Kevin. Kevin, in particular, has said in interviews that investors really care about how they are going to make their money back, and that research is important to any business plan. I have concluded from this that an industry analysis included in a plan will be important to an investor to prove the viability of a new company. The financial section as well will be extremely important. But I also believe that the executive summary is the first and most important thing any potential investor will read. All of this information has been helpful to me with my own business plan.