You have come up with a great business idea, discussed it with your friends and family and are raring to go but is there anything you need to do before you embark on this journey? May be starting the business, creating a business plan or hiring business plan writing services to get a professional work while you focus on your task. When one has spent a lot of time effort and money in creating a start-up one wants to see it succeed and reach new heights rather than become a failed project as many do.
Top 3 Business Plan Writing Services
A good business plan could help you take your business to the next level and is the key to getting your business off the ground and getting investors and support for your enterprise. Since it is such a make-or-break aspect of one’s business it is important to have a professional business plan and thus is often better to hire an expert rather than craft a business plan yourself.
You would have thus understood that the key aspect in helping your start-up to succeed is creating a good business plan. But creating a good business plan can be a challenging prospect. This article will not only familiarize you with not only what a business plan is and its importance but will also help you select the right business plan writing services for your business.
What is a Business Plan?
In the case of entrepreneurs who are just starting out – however big or small their venture may be, there is a great deal to be said in favour of a good business plan.
First let us start by defining what a business plan is. A business plan is a document that highlights a company’s objectives and how it plans to achieve those objectives. In simple terms It can be thought of as a road map, a brief outline of your business that spells out exactly what your business intends to do, what its ultimate aims and targets are and delineates the methods that will be used in achieving those goals.
It is an essential document that is required in order to attract investors and secure loans from various financial institutions. Creating a good business plan is essential as many companies fail without one. Thorough research is needed to determine if the business idea that is being contemplated is viable and likely to succeed. The entrepreneur needs to understand clearly what to do, and this requires the creation of a business plan which helps to assess the feasibility of the idea among other things.
Key Elements of a Business Plan
Given below is a business plan template it is divided into the key elements of a business plan:
This section states the leadership, employee structure, location along with the mission statement of the company. This will state who will be heading the company, what the managerial positions will be, how many people are expected to be employed and in what positions in the initial phase and how this is expected to change as the company grows older.
Products and services
Here the company states the products or services it plans to provide to its customers. It may include the pricing of these products, how it plans to manufacture/ provide them, and the technology or the patents it holds which will help in dispensing the same.
This is a crucial part of the business plan as this will help the company to understand the consumer demand and how much of the market share it can reasonably hope to capture and in what time. This is an analysis of the company’s competitors and how the start-up is likely to fare vis-a-vis its competitors, delving into its relative strengths and weaknesses.
This is a key aspect of the plan as it details how the customers will be informed about the product, how best to attract them and subsequently retain them. It describes the advertising and marketing strategy along with the various forms of media to be used for these. A distribution channel for the products or services is also outlined.
This section describes how the startup expects to raise its capital, who the potential investors are and the expected rates of interests of potential loans and what its targets for the next few years are.
Just like households budgeting plays a vital role in keeping expenses in check for businesses too -whether they are well-established large ones or fledgling companies that are just starting out. A budget is a particularly important aspect of a business plan This section outlines the costs related to manufacturing, marketing, staffing, and other expenses the company expects to have. The best business plan is one that is customized to the need of your start-up.
Why is a business plan important for startups?
Business plans are especially important for startups. let us enlist the advantages of business plans for startups:
- the main thing that a business plan allows you to do is to identify problems and challenges that the business is likely to face – when you come up with a business plan it may be easy to ignore or overlook the problems and roadblocks that are likely to crop up.
- You may be too optimistic initially hence a business plan written in black and white will help you be more realistic with the goal one sets for the company and help convert nebulous business targets to concrete actionable ones.
- A business plan can be a great way to get better advice for the
entrepreneurship. An oral briefing for a possible mentor or friend stating that the company you’re aiming to start with, say eight employees in a single room, for example, is not particularly informative, hence is likely to generate vague advice. On the other hand, a detailed business plan that defines exactly the details of the room required, what tasks the employees are expected to perform. what the salary structure is likely to be, gives much more information enabling reader to provide concrete advice hence a good Business plan can be crucial to define exactly what kind of help is needed.
- A business plan is also extremely important as it is the cornerstone for how you will structure or allocate your resources. Using a business plan, you can gauge whether it is feasible to open an office or hire new employees, in this way you can also look at the operating costs of a business. Using a plan one can figure out whether the business would be running on a profit or a loss and the amount of profits and losses in question
Writing the business plans yourself vs hiring business plan writing services
When a person comes up with a business idea he or she may feel emotionally attached to the idea and feel that they are the best person to come up with a business plan for their company. This can lead to critical challenging issues being overlooked. in addition, although you can still write your own business plans, it can be more valuable to recruit an expert if you do not have business administration related and financial knowledge as you will find it challenging to write a perfect plan. In such a case it is better to hire a business plan writer since the heart of any business plan is proper understanding of operational and financial issues related to the business. Business plans are particularly Important as they help you get investors and funding. Investors need to feel confident in the business they are investing in, and a professionally written plan will help in that aspect.
Thus, the odds seem to be in favor of hiring a professional business plan writer unless the entrepreneur himself or herself has a financial degree. Even when that is the case, there is something to be said for professional services as an outsider may bring in more objectivity.
Writing a business plan is an especially important part of starting an enterprise. A good business plan guides you through every stage of starting a business. The plan can be used as a roadmap for running and growing your business. A good business plan will help you in the journey to success. A written plan is a good foundation for the establishment and running of your business. The most important component of a business plan is to go through the process of correctly comprehending your company’s strategic, operational, and financial aspects.
How to Hire the Right Business Plan Writing Services
The issue now is hiring a business plan writer that is the best for your business. The cost of hiring a business plan writer on a site like Upwork can range from anywhere from 40 dollars an hour to 170 dollars an hour. Knowing where to spend your money is important as hiring the right business plan writer can make or break your business. Because of these reasons selecting a good business plan writing service becomes very important if you want to see your business succeed
These are the key skills required to hire a business plan writer:
Qualification and Training
A writer with a qualification in a business-related course is likely to be better at creating a business plan than someone who does not have such training as this training provides the writer with some basic concepts of what a business is and what a business plan entails. Hence it is self-evident that you must choose a business writer with a qualification in a business-related field
Experience in writing business plans
Like in most things in life, experience counts. An experienced writer knows the ins and outs of writing the perfect business plan. A seasoned business plan writer knows what it takes to craft the plan that is tailored to the needs of the start-up while sticking to tight timelines. While looking for an experienced writer, search for someone with a successful track record. A writer who has successfully written business plans for other companies whether they are within or outside your industry brings to the table the best practices, insights and strategies from other ventures that can help your new business to grow.
However, since you are just beginning with your business journey and feel that you do not have the resources to hire a highly experienced writer, you may decide to hire a relatively new entrant. An unsaid advantage of this may be that the business writer has more time and energy to devote to your project and may be more enthusiastic to prove his or her credentials. Just make sure that they understand your business needs and you are able to communicate with them well. Seeing at least a few examples of their work may help.
Research is a critical component in writing a good business report because only a well-researched plan can give an idea about the market that you are targeting, what the customers want, who the other players are among other things. Thus, good business plan writers should be able to conduct market research and analyse data in order to assess the demand of the product and the competition a company is facing. They need to be aware of the various resources on the net from where they can get industry reports and market research databases.
A professional financial background of your chosen writer can be the cornerstone for ensuring that the money that you plan to invest in your business writer will generate the profits that you expect from it. A good business plan writer should be well versed in accounting and should be able to create balance sheets, financial projections, and other financial documents important for businesses such as expected cashflows and income in the first few years.
A business plan writer should have excellent communication skills and should be familiar with the language the plan is written in. A good communicator will manage to get the message across without muddling it. You may have a great business idea or product but unless it is communicated effectively to the potential investor it is unlikely to take-off.
Willingness to share expertise
You may know your industry better than anyone, but business plan writers are skilled at turning that information into something that the audience can engage with and comprehend. You should select a writer who is familiar with your company’s goals and is eager to offer suggestions to assist you reach them.
Willingness to collaborate long term
Avoid hiring someone who thinks a business plan is something you utilise once and then throw away. That is no longer the case in real-world company planning. In a couple of weeks, business plans become obsolete. To make a plan useful, you must assess findings on a regular basis, track progress, and adjust frequently. So, you will need someone to assist you, either by passing the plan on completely so you can quickly review and revise it, or by being accessible afterwards to assist with review and revision.
Top 3 Business Plan Writing Services
For your convenience, here are the top three business plan writing services who are known for their professionalism and work ethic (here are several others available on the internet which you may also want to consider)
SixPL Business Plan Writing Services
This business plan writing service was established in 2012 and has handled over two thousand projects for over fifteen hundred clients. It provides services in nearly twenty-five countries. It has offices both in India and in the USA and boasts a client retention rate of over 75%
Sixpl Business Plan Writing Services helps you to Hire a Business Plan Writer to “Capture the Essence of Your Business in a Compelling Way.” Using this website, you can avail a range of business plan writing services to achieve your business goals.
They offer services such as business Analysis, Business Forecasting, Budgeting & Business Planning, Feasibility Study, Go-to-market Strategy, Human Resource Planning, Accurate Assumptions, Solid Pitch Deck, One Pager Summary, Business Plan Designing and Compelling Executive Summary.
You can click the link given below to access this website
Live plan is a website that you can use to create your own business plan. It uses various templates in order to create a plan for your business. The templates are complete with expert guidance and step-by-step instructions for each part of your plan. Live plan has simple tools for creating financial reports and forecasts for your business plan. Furthermore, their business plans follow an SBA-approved format designed by entrepreneurs who have raised millions in funding. This is important as it can help you to attract investors.
You can access the website here:
Upwork is a website that you can go to in order to choose from a large network of talented freelance professionals in any field. You can use this website to post a project and have people apply for the job. Their algorithms help you select the best candidate for the job. You can also search for business writers using the websites search function and browse through various profiles and portfolios before reaching out to someone to write your business plan. You can also use their talent scout recruiters to find highly- skilled, vetted people that match your budget and business needs.
You can access the website here:
In conclusion Even if you never plan to pitch investors, a business plan may help you define clear, intentional next steps for your company—and it can help you spot gaps in your plan before they become problems. You now have a thorough guide and the information you need to start working on the next phase of your business, whether you have prepared a business plan for a new online business idea, a retail storefront, or to grow your present firm.
Frequently Asked Questions
Can I pay someone to write a business plan?
Yes. You can hire business plan writers and pay them for your services. They will deliver a business plan within stipulated timeline.
How do I find someone to write a business plan?
You can hire SixPL team to write your business plan. Alternatively, you can also hire freelancers at several freelancing platforms like Upwork, Fiverr to write a business plan.