Business Plan problem

[iagp]

I have written my entire business plan according to trumpuniversity.com

The purpose of my business plan is to create a blueprint so I can get my venture to do what I want. Which is build a fan base, promote my artist and music to the target market. Give them personel who are involved some experience and distribute the product will building a brand.

The problem I have is that my product will be free and I am not looking for any income from the product. Since my product is free I am only using free marketing, promotion and advertising strategies. Therefore I can not put much information in the following sections financials, fund required, marketing sales plan. I am also not looking for an investor.

What should I do?

[FrioGott]

Your fund required section would include what you project you will need to spend on the band promoting them, if that includes paying for the gas for them to go to a gig then write that on there. Any expenses you potentially foresee, throw 'em up there. For you market sales section, if you plan to market the band completely freely, then put zero dollars. However if you are going to be making simple things even as simple as black text on a flyer, you should include that. You may only spend about a dime a page, but its still good to keep track of those things. Even if you have a buddy doing it for you for free, it may be a good idea to keep track of how much it would have cost you.

[iagp]

Appreciate your reply. Those expenses you add above where ones I knew about but did not think they should be added.

[mwormald]

The great thing about your business plan is honesty. Most busness plans are designed for banks, investors, or business partners. These business plans are always fake. Your business plan is as stated a "blue print." its the honest truth about what you are attempting to create. You should include what you are looking to make in the future. at the moment services may be free but unless this is a non-profit organization I suggest you prodict profits.

[iagp]

I did not predict future profits because I will construct another business plan later. That business plan will be a blueprint for all products that we create for profit.

[Talha]

Hi,

I totally agree with "mwormald"; honesty is the key for long-term success. Most business plans are projected to extreme profits and unrealistic revenue expectations that can lead to disqualification by an expert of those financial institutions. One must consider all the ground realities of expenses before targeting a sky high profit.
______________
Talha
iSourceBiz
Turn Your e-Business Ideas Into Reality

[1youngphenom]

Set your company up as a Non-Profit. I am using business plan pro right now and it asks in the beginning if I am a Non-Profit. It's gonna make a lot of difference.

[entrepreneur74]

I agree with many of the other posters. The business plan should ALWAYS be honest. Otherwise it is a worthless document and a waste of time. To trump up a business plan for venture capitalist and banks to get funding may seem logical, it sets you up for potentially unreasonable expectations and can and will lead to failure. The business plan should be revisited and adjusted on a quarterly basis (top level) and a very thorough review should be done annually.

Your business plan should not be structured as a non-profit even though you are not trying to generate any revenue with your efforts. Non-profit in business plan pro is more in line with like a 501(c)3 entity.

Let me understand this....you are not trying to generate any revenue even through your promotion of your music? I understand that you are creating a brand, but this is all simply expenses of that brand and should be bundled with the revenue generated from the brand created. If no revenue is generated then it will still be a tax deductible expense (potentially).

[butler68]

The great thing about your business plan is honesty. Most busness plans are designed for banks, investors, or business partners. These business plans are always fake. Your business plan is as stated a "blue print." its the honest truth about what you are attempting to create. You should include what you are looking to make in the future. at the moment services may be free but unless this is a non-profit organization I suggest you prodict profits.

I do not agree that business plans are fake. I have built plans that received over 300 million and the companies are doing what the business plan stated. I do agree that the plans will never be 100% correct but they surely are not fake!

[EC44]

Are you guys seriously wasting time on business plans? Nevertheless from TRUMP University? The only reason that man still has ANYTHING is the fact that the guys backing him and in no position to remove their backing without hurting themselves in the process. He is a joke, his methodologies should not be followed.

Just know what you want to do, have A PLAN and just commit to action and quit wasting time.

An idea != value. Action, commitment and hard work == value. Value == money. Good luck with your venture but stay clear of Trump.

[damentgp]

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[belablasko]

hello.

Keep in mind that creating a business plan is an essential step for any prudent entrepreneur to take, regardless of the size of the business. This step is too often skipped, but we have made it easy for you by providing this ready format to build your plan as you progress through this course.

Business plans can vary enormously. Libraries and bookstores have books devoted to business plan formats. This course is a starting point. You can then go on to design one that would be ideal for your particular enterprise.

Be aware now that most start-up entrepreneurs are reluctant to write down their business plan. It is, therefore, strongly recommended that you complete each segment of the plan as you progress through this course. We make it easy for you by providing sample plans for both product and service businesses and also an attractive blank form that you can download onto MS Word and customize yourself.

Your business plan will become your roadmap to chart the course of your business. But at the outset you cannot predict all of changing conditions that will surface. So after you have opened for business, it is important that you periodically review and update you plan.

[loanlive0]

I agree with them.. Honesty will lead you in success.. Your business plan was not bad.. I can see that your motive is advertising.. I will support you with your business plan..