Expert Views

Carol Schramm, holds a PhD in economics and has served as both the President and CEO of Ewing Marion Kauffman foundation. I found his characteristics of an entrepreneur’s to be exact when referencing it to myself. As a highly sought after individual who sits on major boards and manages his own personal angel investment his views on entrepreneurs and developing business plans. While universities touch us the importance of developing a good business plan to be successful in starting a new business, Mr. Schram states that this is a waist of time because they rarely work and are outdated as soon as they are completed. His advice is to get on with making or developing your business verses writing about it.

Dr. Steven Gedeon has founded more then a dozen private, public, venture capital and non-profit organizations as well as publishing over 100 articles, reports and patents. With an MBA in entrepreneurship and strategy at the Ted Rogers School of management and views the business plan a little differently stating that the most important element of the business plan is the executive summary the overall business idea and the financials.  He believes the key to a successful business plan is ensuring that it is credible and there must be a plausible guide to action, which is based on the companies target audience. (Steven Burhoe, 2012)

I found both of these views insightful though different they each shed light on the difficulties and pitfalls of creating and carrying out your business plan This is great reading for anyone deciding to venture into an entrepreneurial business idea.