Business Plan Development, From Experts Guy Kawasaki and Dan Schawbel

For the purpose of this blog post, I have researched two experts, Guy Kawasaki and Dan Schawbel, regarding business investments. I first heard of Guy Kawasaki in an Executive Leadership course at Full Sail University. As a well-published author, Kawasaki has solidified his placement in business education and commentary conversation. Interestingly enough, Kawasaki was integrated into one of my first blog entries at Full Sail and now he is also part of one of my final blog assignments. Dan Schawbel is making his Hertzblog debut with this post.

A highly praised branding and entrepreneur expert, Dan Schawbel gives valuable insight into the development of business plans. Recognized by New York Times as the “personal branding guru,” Schawbel is the managing partner of Millennium Branding, LLC. Schawbel is also responsible for an international best-seller. Like Kawasaki, Schawbel is also a highly sought-after national speaker enlightening audiences on his views of various business topics relevant today. Schawbel has taught that investors seek business plans that include a variety of key elements; the return on investment is probably the most important element of the business plan to an investor. Other crucial variables to a business plan include in-depth knowledge of the demographics, industry, and competitors.

Schawbel and Kawasaki have different views on business plan development but both realize the importance of a solid business plan. In his blog, The Zen of Business Plans, Kawasaki provides 9 do’s and don’ts for professionals preparing a business plan to be presented to an investor. I found the entry very useful as Guy explains what he looks for and what will best attract investors. According to Kawasaki, the fundamentals of the business plan should always include the following: Executive Summary, Problem, Solution, Business Model, Underlying Magic, Marketing and Sales, Competition, Team, Projections, Status and Timeline, and Conclusion. He adds that each section should ideally be one page in length but expects a ‘fudge factor’ of 9 pages. The shorter and cleaner the plan, the more likely it will be read.

Developers may also find it easier to create the pitch before the plan. This helps with having a better deliverable pitch and plan because it’s easier to master the pitch and make changes than it is for the actual plan. Dan Schawbel put an emphasis on the scheduled review of the business plan in his blog entry titled “Build an Extraordinary Business Plan to Kick Your Brand into High Gear.” Schawbel says that every plan should begin with a review schedule. By creating the schedule in the beginning of the project, the team will be better focused and informed. Noticed I said ‘team.’ Kawasaki believes one person should create a business plan while Schawbel recognizes that groups develop most plans. Kawasaki believes a plan created by only one person reads more cohesive and incorporates a better flow of information. Either way, a review plan would be beneficial to a developing business plan.