A Successful Business Plan

Last week, I attended a workshop at Reading, PA that helped to develop an effective business plan, a captivating pitch, and an accurate cash flow statement. The event was managed through Temple University’s Fox School of Business, as they have a similar branch of professional development opportunities just like the ICE Center. Fox School’s Small Business Development Center (SBDC) consultants talked about the dynamics of the business model and how it could be utilized to consolidate the backbone structure of any organization. The speakers moved on to discuss the positive potentials of a well-structured pitch, pointing out that it can be the ultimate factor of whether an investor decides to devote his or her assets to a starting venture. The last part of the workshop involved preparing for the financial projection, as we were introduced to basic financial template to manage and calculate the data collected form a business.

After the lectures, we were allowed to speak one-on-one with the graduate students. One important lesson I took from this event was to strategically and meticulously look at the plan of operation for a starting venture then focus on the most critical segments to make the business successful.