WRITE YOUR OWNBUSINESS PLAN? OR GETIT PROFESSIONALLYWRITTEN?

THERE ARE DEFINITELY SOME CASES WHERE

WRITING A BUSINESS PLAN YOURSELF IS

PREFERABLE AND OTHERS WHERE AN EXPERT

THIRD PARTY MAY ADD VALUE TO THE PROCESS

Writing your businessplan yourself For micro businesses raising small amounts of investment (say under

£50,000) this is likely to be the best approach. Apart from anything

else it doesn't make sense spending 10% or 15% of the funds you are

trying to raise on getting someone to help you write a plan! Most high

street banks offer on-line applications or software templates to help

you. Just beware that you may have to repeat the application process

several times in different format if you don't have a stand-alone

business plan.

When selecting business plan writingservices there are a few good guidelinesworth following:

Commercial Experience

Track Record

Pricing

Ownership

Funding

CommercialExperienceThe ability to write well is not enough to make

your plan investable - this is not simply a copy

writing exercise. If you are going to secure funds

you need to construct a business case that

integrates all commercial aspects of your

business. So, be sure that the people writing

your plan have several years of senior

commercial experience - the broader the better.

This commercial experience should include

budgeting or forecasting - your financials are a

critical part of your plan..

Pricing

Services range from around £2,000 for small

start-ups upwards to £15,000 for larger

corporate plans. As with most things, you get

what you pay for and the price generally reflects

the complexity of the business model. Make

sure you ask for a specific proposal that outlines

exactly what you are going to get for your

money, the timescale and price. Consider

"virtual services" rather than "face-to-face"

consultants to reduce your costs but not the

quality of work.

Ownership

one potential disadvantages of having a plan

written for you are that you will not "own" the

business plan and be totally familiar with it. So,

ensure that you are fully involved in the process

and that there is time scheduled for you to

review and discuss the financial forecast and

written plan with whoever is writing the plan for

you.

Funding

Have plans that they have created secured

funding? Whilst funding depends on a wide

variety of factors and not just the quality of the

business plan (state of the market, availability of

capital, product, service, proposition,

management team etc.) any specialist service

should be able to quote a few examples where

their plans have helped to secure funds.

Track Record

Man y bu s i n e s s p l a n s a r e c o n f i d e n t i a l

s o do n o t e x p e c t t o s e e man y

e x amp l e s . Howe v e r , c ompan i e s

s h o u l d b e a b l e t o p r o v i d e w r i t t e n

a nd a t t r i b u t a b l e t e s t imon i a l s f r om

c l i e n t s .

For most people who do not possess experience of writing

business plans you may improve your chances of securing

funding by engaging a specialist writing service to help you

create a plan. However, make sure you are fully involved in

the process - you need to own the plan at the end of the day

and know it inside out and backwards - your future is in your

hands not theirs!

LET'S TALK!PHONE+1 (800) 409-4044

EMAILinfo@probusinessplans.com

OFFICE ADDRESS10880 Wilshire Blvd Suite 1101,Los Angeles, CA