Writing a business plan is a crucial first step in your business endeavor and should not be taken lightly. Depending upon the goal of your business plan determines how much effort should go into writing it.
- If you will be seeking financing from a bank or other entity, then your business plan should be done well. The business plan will be highly scrutinized by a third party…after all, it is their money that they are deciding whether or not to lend to you. In this case the business plan should have solid numbers/projections based on industry data and it should be properly referenced.
- If you are not seeking financing, then the business plan serves as more of a roadmap for the next 6-24 months of your business. You should still have a solid plan and be able to clearly identify your target market and your anticipated sales. But, since you’re not seeking outside funding, the plan is not subject to as much scrutiny as above.
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-As you can probably tell from this small section on business plans that writing one can be quite overwhelming. Many entrepreneurs know their industry very well, yet don’t know how to write a business plan. So, why not hire someone who does this for a living? Business plan consulting and writing can significantly decrease your stress and improve the quality of your plan.
-If you are seeking financing for your business, then it is imperative that you get some type of outside help and feedback. The wisest choice is to hire a professional and have them do the bulk of the work for you, which will allow you to concentrate on other efforts.
-Talk with several professional business plan writers and get multiple quotes. You may be surprised at how affordable these professionals are and how their services can impact your business venture.
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