The idea of her starting her own business just won’t go away.
No matter how hard she tries to ignore it, Jen can’t stop thinking about starting her own H.R. consultancy firm.
Finally, she gives in.
I’m going to do it, she declares!
I’m going to start my own business.
Excited and terrified at the same time, Jen plans what she needs to do to get started.
She thinks about how many people she can help, finally reaching financial freedom and having fun doing what she loves.
All she needs is a little bit of money to get started.
Jen decides to go to the bank and asks for a small business loan of $50,000. She figures this should be enough to launch her dream business.
This is where she learns that the bank needs to see a business plan before considering lending her the money.
After researching and searching online, Jen realizes she has two choices: writing the business plan herself or hiring a professional business plan writer.
But is hiring a business plan writer worth it?
Have you ever been in Jen’s situation?
Do you also wonder if hiring a business plan writer is worth the cost?
Here are four reasons why hiring a business plan writer might be worth it for you and your business.
Writing a Business Plan can take weeks or even months to complete
While some business owners might have the expertise to generate their business plan, would this be the best use of their time?
For example, doing valuable market research or completing financial projections could take Jen weeks to complete.
Jen can focus on getting her website up and ready, contacting potential corporate clients, setting up her customer relationship management system, speaking with job seekers and getting her website up all. At the same time, her business plan is being professionally written. Jen can hit the ground running as soon as her business launches.
Working with a business plan writer allows you to focus on your start-up or expansion of your business while at the same time being fully involved in the business planning process.
A poor business plan could mean banks or investors reject your funding request.
Your business plan is one of the most influential and essential ways to communicate your plans and ideas to others clearly.
Lenders, investors and government grant administrators all have specific requirements for business plans. Even if these requirements are met but poorly presented, it can still impact how the plan is perceived or ultimately approved or rejected.
A business plan writer has the experience to know the requirements and the skill to clearly articulate the plan’s ideas.
The business plan writer must work with you to develop the plan because, ultimately, you need to explain your plan to lenders or investors. A good business plan writer works closely with you, so when the plan is complete, you know every inch of the plan and can justify all the assumptions included in the plan.
When Jen understands every aspect of her plan and knows exactly where every dollar is allocated, she can confidently go back to her bank and have the best chance of success.
A good business plan serves as a roadmap for your business
Although funding requests are the most common reason why entrepreneurs hire a business plan writer, another important reason is that a business plan can also be an invaluable tool. It can help entrepreneurs effectively manage in the first few months or even years of operating their new business.
Thinking of Jen again, a business plan can help her understand how much revenue she needs to break even and start making a profit. It will allow her to be clear on how her service compares with the competitors to focus her message on her target audience.
Professional writing and editing
We all write. That’s why for many entrepreneurs, it often feels like writing a plan should be easy to do. But, writing a business plan can be pretty challenging for many people who don’t have experience writing business plans.
Business plan writers can explain complex concepts clearly and concisely. Business plans have to be crystal clear, well organized and reasonably comprehensive. If the plan doesn’t have enough information or too much information, it will not have a positive effect on the reader.
Writing a good business plan takes time and requires multiple skill sets. This is why at Business Plans Canada, we use a team approach to completing each custom-built business plan.
So, is hiring a business plan writer worth it?
Based on everything mentioned above, the answer would be yes, especially if you want to spend your precious time on more important things and have the highest chance of getting your business funded.
Happy Business Planning!