A Business Plan Development blog assignment.
Trying to choose only 2 famous Entrepreneurs is like trying to count all the stars in the skies. Throughout history there have been a multitude of brave individuals who have struck out on their own and manifested dreams into riches. Modern day names include the likes of: Bill Gates, Steve Jobs, Mark Zuckerberg, Oprah Winfrey, Sara Blakely, Ryan Seacrest, Dick Clark, Merv Griffin, Richard Branson and on and on. The names are endless. (http://www.forbes.com/)
T: http://www.gutenberg.org/files/8581/8581-h/8581-h.htm#2H_4_0011 a reader can download a free online ebook of Phineas Taylor Barnum's, (1810-1891) "The Art of Money Getting or Golden Rules for Making Money." I harbor a fascination in Barnum's life and exploits. From store clerk, to book printer, to Mayor of Bridegport of Connecticut and then on to being the greatest showman on earth. How many of us will be able to say that a circus we started in 1880 is still in existence today, still maintains the same name and has a modern day website with tour schedules? None of us. The following is the table of contents from Barnum's book "Money Getting:"
DON'T MISTAKE YOUR
VOCATION
SELECT THE RIGHT LOCATION
AVOID DEBT
PERSEVERE
WHATEVER YOU DO, DO IT
WITH ALL YOUR MIGHT
USE THE BEST TOOLS
DON'T GET ABOVE YOUR
BUSINESS
LEARN SOMETHING USEFUL
LET HOPE PREDOMINATE, BUT
BE NOT TOO VISIONARY
DO NOT SCATTER YOUR
POWERS
BE SYSTEMATIC
READ THE NEWSPAPERS
BEWARE OF "OUTSIDE
OPERATIONS"
DON'T INDORSE WITHOUT
SECURITY
ADVERTISE YOUR BUSINESS
"DON'T READ THE
OTHER SIDE"
BE POLITE AND KIND TO
YOUR CUSTOMERS
BE CHARITABLE
DON'T BLAB
PRESERVE YOUR INTEGRITY
In the chapter labeled: "Be Systematic", Barnum expresses the basic idea that "Men should be systematic in their business." This statement implies that Barnum would more than likely agree that a business plan is important. He goes on further and states: “A person who does business
by rule, having a time and place for everything, doing his work promptly, will
accomplish twice as much and with half the trouble of him who does it carelessly
and slipshod. By introducing system into all your transactions, doing one thing
at a time, always meeting appointments with punctuality, you find leisure for
pastime and recreation; whereas the man who only half does one thing, and then
turns to something else, and half does that, will have his business at loose
ends, and will never know when his day's work is done, for it never will be
done.”
British businessman Richard Branson, (1950 to present), has been compared by Esquire magazine as:
Richard Branson: P.T. Barnum for the 21st Century
By Tim Heffernan
"Anyway, today's endorsement is of that old type of tycoon we rarely see anymore: the populist showman."
(http://www.esquire.com/blogs/endorsement/virgin-galactic-spaceshiptwo-launch-120709/)
Branson's first job at 16 was in his own business, publishing a magazine. Today his celebrity net worth according to (http://www.celebritynetworth.com/richest-businessmen/ceos/richard-branson-net-worth/) is $4.2 billion. Although I am guessing that is s rough estimate. I will venture to say that Mr. Branson believes in having a good business plan. His company Virgin Galactic has 2 spaceships that will be launched for public space travel sometime in 2013. (http://www.space.com/16057-virgin-galactic-spaceshiptwo-launches-2013.html)
Investors will be looking for short term overview of a business in the business plan. They will look at your management team to ensure team mentality. How much control and percentage of profits will I have as your investor over ownership? An investor will want to know if the business can profitably withstand throughout the years. Can I use the name Richard Branson as collateral?
