Andrea
Cockerton’s wisdom about business plans has made me very critical about my
own business’s ability to address a needed market. She also points out that a
business plan should address the innovativeness of the company’s ideas along
with its abilities to execute those ideas, but my company already has those
qualities in spades. It’s the need in the market we appear to currently be
lacking. Doing amazing and incredible things has little meaning if the market
doesn’t have any legitimate need for what the company is creating. It doesn’t
seem like there’s a very high demand for motivational/inspirational web-based
video that has a biting edge to it.
Kevin
Geiger and Chuck Blakeman both
addressed the issue of committing to the execution of your plan. Geiger was more in favor of it, Blakeman
was less so. This makes me think about the relationship between my own
business plan and how it will be executed, and the more I am honest with myself
about it, the more it feels like I couldn’t expect myself to be completely
loyal to the original plan. Mostly, this is because of lack of experience. The
brutal reality is I will never have experience executing a business plan until
I get that investor’s approval the first time. Therefore, while completing my
first business plan, I won’t have the capacity to be completely realistic. It’s
hard to picture obstacles I have not yet faced or witnessed. My first business
plan is going to be a good old-fashioned educated guess.
All three of these experts have confronted me with the
reality that I am currently poorly-equipped to join the gap between the work I
want to do and the realities of putting that work on the market. What I may
need to do is go back to the drawing board, give serious thought to everything
I have learned about the market I want to compete within, and use my current
experience and creativity to build a project and a business that the market
actually wants rather than what I want it to want.
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