The Business Plan

Planning is one of the most important aspects in running a business whether it be a small family owned business or large corporation. Writing a business plan should be your first step in starting a new business venture. By having a plan you have a detailed blueprint of you business purpose and a detailed account of what actions will transpire to achieve your organizational goals. Below are some of the basic element of a business plan which begins with the executive summary. The Executive summary is probably one of the most important elements of a business plan. The executive summary is a brief overview of what your business purpose and how you will pursue the market opportunities and why your business will be a success. This portion alone can gain or lose potential investor interest in your business.

http://salon-cashflow.com/business-plans/

Innovation

You Can Learn To Be The Next Steve Jobs: Nine Ways To Become A Visionary

This innovation article was found online it talks of how you can create a process to become an innovative individual. Being an innovative person is not a trait  you have to be born with it can be learned. To be innovative you definitely have to look outside the box. Those who are innovative tend to live lives that are non routine. Innovators look at things differently always looking towards the future and whats next not so focused on the past, they create their own paths. These type of leaders surround themselves with a mixture of different individuals so they can see other views and nurture their creative minds. If you surround yourself with the same type of people with the same daily routines how will you be able tho grow as an individual. You must not be afraid to venture out into new social activities.

Tips on Being Innovative

• Research your market and potential customers.
• Study the current market trends.
• Look at what your competition is doing.
• Consider Investing in research and development.
• Review existing business and evaluate areas that can be improved.
• Brainstorm your ideas.
• Create a plan of actions.
• Never give up. 

Is an MBA still relevevant

In the October 2012 Issue of Entrepreneur Magazine I ran across an article MBA Smackdown, which is a discussion of whether earning the degree is still relevant as it once was. As an MBA student I can agree with reasons being for and even against an MBA degree.

I myself have taken course and felt like I learned absolutely nothing or the information being taught was not up to date or simply lacked being a graduate level learning experience. Some individuals seem to be misguided into thinking that an MBA will make them management material and immediately increase their earning potential this is so not true. Some people enter a MBA program that probably would benefit more from taking professional development courses or specialized topics in business.

If you have little to no experience in business and are seeking a career in entrepreneurship then you can definitely benefit  from earning an MBA. In my opinion many small business tend to fail because they lack the knowledge needed before venturing out in the business world. Learning by experience can be costly.

Questions to consider when contemplating an MBA degree

Can you afford the MBA
Will you  work part time or full time while earning MBA
Will an MBA help progress my career