Sangam University - Talk on Business Plan Guidelines by Spears School of Business Distinguished Professor Richard Gajan

The target audience is potential investors, not a thesis review committee. Investors are much more interested in the business opportunity and getting out with a lot more money than they put in than in the technology.

On 27 March 2014, Richard Gajan who holds an MBA from the University of Michigan, an MS in Mechanical Engineering from Texas A&M University, and a BS in Mechanical Engineering from Oklahoma State University presently Carl Thoma Distinguished Clinical Professor in Entrepreneurship, Spears School of Business, Oklahoma State University, USA addressed the faculty and MBA students of Sangam University Bhilwara Rajasthan (India) and gave a talk on Business Plan Guidelines highlighting the following.

The business plan is that all-important first impression. It is the appeal for money, an opportunity to promote the company, and the reason for someone to pick this deal to invest in over the many other excellent deals available. It will also form part of the contract of deliverables if someone does invest in the proposed venture.

Since, first impressions are lasting impressions, one should take care to include professional language, numbers which total, results rather than research, correct spelling, grammar and punctuation. To look “professional” it’s better to consider a binding that permits easy updates and a cover that looks good and includes all contact data. The plan should include a detailed table of contents, numbered pages and each plan identified with a control number. Ideally, the Business Plan should not exceed 30 pages (and 20 is much better) including the Executive Summary and printed back to back to make it look even shorter and skinny.

The Executive Summary in 2 or 3 pages could be a separate document or detachable giving company background, products / technology, management team, market, financial projections and exit strategy, funds sought and contact information. The business plan should have different sections covering Company Overview & Background, Products & Technology, Industry Analysis, Market Analysis, Competition, Marketing and Sales, Operations, Management & Organization, Development & Milestones, Risk & Contingencies, Capitalization & Structure, Financial Projections, Summary & Conclusions followed by Appendices.

Investors prefer to exit in 5 to 7 years and later stage investment funds require even quicker exits. Investors have a tendency to avoid engineers, scientists and professors as CEOs, especially if they have no management experience. Without a complete, experienced team a deal is simply not as attractive. Nepotism and spouses working together are major taboos. Investors look for a strong Intellectual Property position delaying competitors, a great barrier to entry and an absolutely unfair advantage.

The proceedings were anchored by Mr Pavan Mandowara faculty from the School of Management Studies Sangam University Bhilwara.

For more details see http://www.sangamuniversity.ac.in

The Institution supported by Sangam Group of Industries Bhilwara which is one among the top ranking corporates in India today with business interests spanning textiles, steel, infrastructure, power and energy has been established by Govt. of Rajasthan Act No. 14 of 2012 incorporated u/s 2(f) of UGC Act 1956. It's a matter of pride that the one year young Sangam University has a ten year old legacy with ITM established in 2003 as its foundation. For more details see http://www.sangamuniversity.ac.in

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