Why and Who Will Read Your Plan?
This is where you have to start. Although we exaggerate a little with this example, it should prove a point: a business plan for a $100,000 loan is a lot simpler than what you need in order to get a venture capital deal of a few millions of dollars. For the smaller companies, you do not need to offer a really big plan but it still needs to be convincing.
Professional Input and Personal Input
There are always parts of a business plan that you have to write alone. You need to always write your basic draft alone since this is something that the consultant has no real idea about. Start with an executive summary and then move on towards marketing needs and the analysis of the competition.
After the draft is ready, you need to move towards the really tough part of creating a business plan: the financials. This is definitely complicated since you are going to end up making assumptions and projections on something that you are not currently selling. This is when you need to seriously consider hiring a business plan consultant. You can hire him to write this part for you or just for consulting purposes.
It is quite obvious that you have really high expectations from the company you are about to launch. That is completely normal since you need to completely trust the idea that you have at the moment. At the same time, there are expectations that appear from those that offer financing. Obviously, the $1,000 loan business plan will not need tens of pages of analysis and a marketing strategy that is fully developed. There are always business plan sections that have to be included in order to meet the expectations of the lender. This is again when you should consult a professional so that he can tell you exactly what you have to do to meet those expectations.
Hopefully, the guidelines mentioned above will help you to figure out when you really need the help of the professional business plan consultant. If not, you can always use a really simple rule of thumb: in the event that you do not know something about the plan you are about to create, it is time to hire that professional to give you a helping hand.
Last update: 13. August
Too much of what is called 'education' is little more than an expensive isolation from reality.
- Thomas Sowell