There are many different opinions when it comes to
business plans and models. Experts may have differing views, which can sway
those that study them one way or another, but it is important to research and
figure out one’s own views.
Steve Blank, an entrepreneur with multiple startup
companies under his belt, as well as many years of working in the technology
field, is no stranger to business. He has relationships with companies such as
Pixar, and has been the chosen speaker as well as a professor for different
colleges (Blank). Blank believes that people should focus more on business
models than business plans, because business plans focus on the consumer rather
than the market (Burhoe, 2012). I can’t say I disagree with Blank, and he
definitely has created a new idea in my mind. I am a research person; I do need
to understand why something would be done. I think it is best to know your
audience well, because knowing your audience could possibly open up a new
market, and if not, it could only give you more knowledge about your market.
Andrea Cockerton is an expert listed from the UK that
seems to have some great advice, also. She was also the owner of Brick Handbag,
which I haven’t been able to locate as of yet. She also founded Mudhut
Communications and is a pitch expert, according to thebusinesshub (Cockerton).
One important key that Cockerton stated was that it is best to get to investors
earlier, when there is more money to invest. It becomes harder to obtain an
investment when funds are drying up. She states that investors are looking for
reasons as to why your company is needed in it’s industry, and how it will be
revolutionary in it’s own way. I find this information to be very important,
especially the piece that timing is everything. I understand both things are
key, and they both seemed very obvious, but it was important for it to be
reiterated. I’ll definitely utilize everything that Cockerton stated during her
interview, as one wouldn’t think that investment money ran out within a certain
period of time as sponsorship money does. I’ve never looked at the two as the
same, but it is obvious that they relate.
Resources:
Blank, S. (n.d.). About Steve.
Retrieved April 10, 2016, from https://steveblank.com/about/
Burhoe, S. (2012, April 9). Steve Blank
and Carlos Slim Business Models [Web log post].
Retrieved April 10, 2016, from http://bpexpertviews.blogspot.com/2012/08/steve-blank-business-models.html
Cockerton, A. (n.d.). Andrea Cockerton.
Retrieved April 10, 2016, from http://www.thebusinesshub.info/guests/andrea-cockerton/
