Business Plan Development Mastery Journal

Steve Burhoe Ph.D. was the Course Director for Business plan Development on campus.  This class was a great course and I learned so much within the spectrums of this period.  The original goal that I had for this course was to ensure that I understood my business plans numbers, and financial side of what I can do better or improve on within my specific target market.  As an entrepreneur, I want to be able to know what my customers need and understand whom the customers are, so I can satisfy their needs within my business.   

The goal was met for the past course, by allowing me to understand the different perspectives for my company, in retrospect of all the content and subjects that will be used.  I now understand the urgency to get my LLC going and to start figuring out where I want to be located and what all comes into play with starting a business on my own vs. having partnerships.  My insight changed slightly, because I was not going to have help within my company, I was going to run it as a sole proprietor, now I have changed my thoughts on that to hire volunteer help which will still not cost me much money.  My skill is still the same, I would like to open up to more businesses that like to do what I am doing in Life Coaching and partner with them and bounce of each other’s skills.  The outcome will be slightly different because I will now have to include some type of insurance or guidelines for others that are going to be permanent with me as volunteers and some initiatives for them helping me, which will cost more money.  I learned so much from this course one of the things I will remember is Steve’s example of the student who had a business plan and sold everything in the beginning cheaper, and then raised his prices as he saw the needs for it in the market, that is true planning.  I will apply the material that I learned in this course personally by always remembering to keep all my books, and materials and read up on the things I learned in this course.  I will apply the materials I learned professionally in my work by applying the business concepts, plans toward my real life scenarios, and now I have a better understanding on what is needed in a business plan and how to make it look and be professional.  The overall course was great and I loved the way Steve ran his class.

References

Know Your Customers

 (Abrams 99)

Abrams, Rhonda. Successful Business Plan: Secrets & Strategies, 5th Edition. The Planning Shop, 2009. VitalBook file.