Experts View on Business Plan application.

                                            Experts View on Business Plan application.


Earlier this month we explored the opinion of three business experts and their views on the importance or, non important on business plan, today I'm showing how this views can be applied to a specific business, in this case a production studio.



According to Chuck Blakeman opinion, most of the most succesful business is to not rely or do a business plan, just go ahead and take action. In my scenario it is necessary to have a business plan to know what type of equipment to purchase, how to manage it and how to deal with clientes, due to the nature of the industry. although, it is of vital importance as well to not follow the business plan point by point, because I cannot predict the future and cannot know how many true sales will I have, clients or expenses (could be more or could be less) when things are not going according to the business plan it is important to know how to handle things, how to improvise and what parts of the business plan are of vital importance and which ones are not. In summary the advice that Blakeman gives is to follow it, but not fully, its important to have a business plan for the general aspects of the business, but it is of equal importance to not rely 100% on the business plan. That is why in my business plan, sales and salarys are mere assumptions based on the industry standard but not to be followed exactly as detailed in the business plan.

According to our other expert , Steve Blank, he believes that no business plan will survive the first encounter with customers, and therefore it is important to change the business plan according to the needs of the business and to the needs of the customers to keep the company growing and mantaining the margin of profit that is healthy for the company. Steve Blank point of view is more similar to what our production studio, Render Productions tends to achieve with its business plan, as mentioned before, the Business Plan is important to know how to launch the business, how to start operating it and have an idea of the cost that it will take to mantain and operate the business and keep it functional in the industry, but one thing is to intend something and another one is to achieve it, the business plan is a mere guideline of what to do but as a company we must be willing to change our business plan, and therefore our way to do business to accommodate to the needs of the customer.

In summary, it is important to have a business plan to know how to start the business, how to operate it, but the company must be willing to NOT follow the business plan step by step, due that we cannot predict the future, we cannot predict the sales and we cannot predict nor control the external factors that affects the industry and must be willing to make the changes necessary to meet our customer needs and keep the company on track.