Applying expert advice on business plans

Reid Hoffman and David Skok are two venture capitalists that have successfully invested on several companies. Hoffman says that relationships are extremely important in the first stage of companies’ growth. The company will take Hoffman advice by using connections in the music industry to build strong relationships and establish strong base of artists, musicians, and music professionals.

From these relationships, LinkaBeat could find future investors and artists who could get involved helping to future company’s purposes. Hoffman also states that companies’ expectations should be as realistic as possible. The company is taking Hoffman advice by having realistic projections the first two years. We are aware of competitors and variables during the company starting process. At the beginning, the company had slightly different sales projections and we changed the plan to more realistic aspirations because we listened to experts’ advice.

David Skok stronger advice is to be prepared to overcome risks. Our company is taking his advice by having a plan in case sales projections don’t meet aspirations in the first three months. These changes were made thank to Skok advice. Alternative plans include planning social and networking events to increase sales and generate more income. These events include showcases, concerts, and activities that help bring all players in the music industry to one place.

The most attractive section of LinkaBeat’s business plan is the financials. According to plan, by the second year the company will generate 2.3M in sales, and these numbers express realistic projections. The business concept is a section that will attract investors too. The company’s mission and vision is to help professionals in the music industry and give them solutions to real needs. The company will look for investors who are involved in the music industry, social networking, and online personal services field. Investors who understand the business purpose and concept will be more likely to invest in the project.