Friday, September 26, 2008

Business Plan Review

This past week I had a business plan review with the local Small Business Development Center. My reviewer has a lot of experience with developing businesses, and he now has a part time gig helping entrepreneurs.

I was excited to get a chance to have a professional review my business plan, but since I don't have any experience with creating a business I wasn't sure what to expect from a discussion with a professional entrpreneur.

He went through my business plan with a fine toothed comb and tore most of it apart. He talked about critical assumptions, financial backing and the work that I needed to put into the plan to make it viable.

But he didn't really discuss the strength of the business idea or the long term planning. He didn't seem to have a real grasp on Web 2.0 marketing and creating a website that doesn't sell a product.

I feel like I got a lot of really good information, but that a lot of what he had to offer wasn't specific for the type of business I'm trying to set up. I recommend having a business plan review, but I'd suggest connecting with someone who has experience with your type of business or function.

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