Thomas Harrison is director and Chairman Emeritus of the
Diversified Agencies. In 1998,
Thomas Harrison “ served as Chief Executive Officer of Diversified Agency Service,
Inc. Over the years Thomas Harrison has made an impact on DAS helping it make
many strides. According to Business week,
“ this person is connected to 116 board members in 10 different
organization across 15 different industries.” (Business week, 2014). While working at Omnicom division DAS
he has participated in watching numerous presentations. Over the years he has found countless
mistakes people make while presenting their business plans. The first mistake
he notices is “people get confused between a business plan and a marketing
plan” (Forbes, 2012). Thomas Harrison makes it clear that a business plan is a
business lay out, explaining why a company is in business. During his interview with Forbes he
also provides 10 key points of a business plan. They are:
“1. Describe why your company is relevant. What is the need being
addressed?
2. Explain the overall state of the market and any important
trends.
3. Explain why customers will buy your product or service.
4. Describe, in detail, which your customers are.
5. Explain who your current competitors are and their advantages.
5. Explain who your current competitors are and their advantages.
6. Explain which competitors you will displace.
7. Describe your product offerings, how they compete with other
brands and why they are needed.
8. Provide an overview of the various resources, including the
people that will be needed to deliver what the customer expects.
9. Describe corporate priorities and the processes to achieve
them.
10. Included three thorough financial plans; one that’s
conservative, one moderate and one optimistic, each with realistic and
achievable sales revenues, margins, expenses and profits on a monthly,
quarterly and annual basis.” (Forbes,
2012).
The key components are critical because they give everyone a clear
understanding of what the business is. Each of these key components help assist
the purpose of a business plan Throughout my business plan I intend to describe
why my company is relevant to users. Today value is more important than it ever
was in the past. At the same time, Time is scarce. Therefore I want people to
know the benefits of my business plan.
References
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