Business Planning Considerations

Business plan development is one of the most imperative, yet over looked aspects of new businesses.  More than 543,000 new businesses start every month in the US and “Entrepreneurial activity among ethnic groups is gaining traction as well. 39.8 percent of the nation’s current 11.5 million entrepreneurs belong to non-Caucasian ethnicities. 22.9 percent are Latino,” according to Forbes.com.  I recently sat down with international motivational speaker and businessman John Garcia to discuss his journey from working in fields picking cotton to sharing international stages with the worlds most powerful speakers including Zig Ziglar, Les Brown and Loral Langemeier just to name a few.

This powerful interview shed a brief light on the power of a dream well developed.  What else does it take to yield a significant return on your investment in order to skyrocket your dream?  Well this weekend I spent some time with the “Millionaire Maker” Loral Langemeier New York Times best selling author.  Her view on what investors are looking for in a business plan is simply return on investment.  She further delved into her philosophy and introduced me to her concept of saying “YES!!!” to your business and yourself.  

“The first thing we do when working with new clients on their businesses is to go back and see how much money they have given away,” said Langemeier.  Most new businesses and brands don’t know what they don’t know, so they leave money on the table.  There are more than 73,600 pages of tax code, so it’s important to build a team with specialists that can ensure you get everything you rate.  During a presentation Langemeier gave she had the entire room stand up and went through a list of scenarios to illustrate how many people were falling short when it came to their business plan, team support and growth.  Her point was that in order to grow to a new height you must “Do what you do best, and let the others do the rest,” similar to Bruce Judson’s principles his book “Go It Alone.” 

Do you think both John Garcia and Loral Langemeier have valid points?  I am finding quickly that the more you surround yourself with people that have been where you want to go the stronger your business plan development will be.  Thanks for reading I look forward to your feed back.