Business

I guest lectured at Purdue’s Entrepreneurship Capstone course again last week.  I love it – for an hour I talked about my experience in entreprenuerial law, business law and funding law to Seniors in Purdue's entreprenuership concentration program on issues consider when structuring a new company.  Honestly, I thought I had them bored out of their minds (yes, there was that one Greek letter wearing frat guy who was asleep about 10 rows back), but I was impressed when we got to the Q&A time that most of them actually seemed to be listening and interested in what I said.

I shared with the class some of the “must haves” for any good business model:
Many of my blog posts are about these three points (or the three subpoints under market opportunity).  Most business plans I review are way overcomplicated and confusing - filled with redundancy, unstated assumptions and guess work.  If the business plan is written for the operations team, there is too much fluff to make sense of what the team is to do.  If the plan is written for potential investors, it is information overkill and avoids the key issues that investors want to see.  Most plans put way too much emphasis on market size and too little emphasis on cash flows. 

Focus on the key points above when developing your business model.


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Alerding Castor Hewitt, LLP is an Indianapolis law firm focusing on business law, information technology law (including SaaS law and legal technology consulting), private equity consulting, and business and Internet litigation.