Alan Olsen is the managing partner at Greenstein Rogoff Olsen & Co., a top Bay Area CPA firm. He focuses on developing innovative strategies for business enterprises and individuals. A specialist in income tax planning, he frequently lectures and writes articles on tax issues for professional organizations and community groups. His website is ranked among the top in the nation for accounting firms, featuring tax tools and business leadership articles: http://www.groco.com
Recently, I attended a Venture Capital Conference in which one of the speakers predicted we would see technology change in the next 15 years that would rival advancements similar to the past 100 years. That is a bold prediction, but as new technologies continue to emerge we are seeing some of the so called Star Trek and Star Wars technologies are now becoming reality.
You should consider that a well-prepared business plan plays two important roles. First, it is a useful management tool that can help you to plot a course for your company. Second, it is a sales tool that will impress venture capitalists with your planning ability and general competence as a manager. Other things being equal, a well prepared business plan will increase your chances of obtaining the venture capitalist's financial commitment.
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