Starting something new takes a lot of preparation and planning. Not just preparation, but planning also needs to be done with utmost care and alignment of thoughts. And how can you not be careful while prepping for a startup? Besides other elements, a business plan plays a pivotal role in giving a clear picture of what strategies should be used, steps to be taken, resources required, and deciding upon timelines when starting a startup.
However, every business person doesn’t have the time or maybe lacks the expertise to craft a well-researched business plan. Fortunately, there are many business plan writing services that can assist you in creating the perfect business plan, with all the imperative elements that make your application stand out. Let’s try to understand what a business plan is, its advantages and challenges, how to hire the best business plan specialist, and get to know about the top business plan writing services.
WHAT IS A BUSINESS PLAN?
Everybody is cognizant of the importance of business plans and it cannot be emphasized enough. A business plan should have every feature of the business and transform the business owner’s ideas into reality. A business plan should act as a reference book for various financial, operational, and marketing viewpoints. You can write the business plan on your own, only if you are very confident or you can take the help of business plan writers. It should answer all questions pertaining to market trends, both current and past, consumer behavior, and business cycles. A comprehensive business plan must include the following:
Executive Summary
This is the most important section of the business plan. The Executive summary can decide for will you rise or will you fall? Limit it to just a couple of pages, but try to be very persuasive while writing it. Market trends, USPs, team details, and financial highlights are important points that must be covered.
Description of the business
A brief description of your business holds a very important place in the business plan, but remember not to elaborate. In the description, you will explain what you are going to sell, what is your intention to do so, and who your target audience will be. If your business is about selling a product, then provide details about the manufacturing process, material availability, operational details, and inventory handling.
If your business is about providing a service, give a brief description of it and its value proposition. You also need to have details of organizational issues, intellectual property, legal structuring of the company, and all expenses.
Market research and strategies
Develop a ‘Positioning Statement’. Explain your competitive advantage and what makes you different from your competitors. Outline the company’s marketing strategies and how will you cope with the market trends or competition. Here, you will briefly specify what channels will you use for marketing your product or service. The business plan should give a very lucid picture of where your market is, how will you access that segment, and be aware of what can create a ‘call to action’.
Your Squad
The business plan should have your team’s bio. Explain clearly the roles and responsibilities of each team member, showcasing how they contribute to meeting the business goals and to making the business a success. An experienced team of experts means lower risks.
Financial Data
Up your number game if you are not up to it, because you just cannot afford to go wrong with this part. Take help from business plan makers if you lack accounting skills and are not good with bookkeeping. Include a balance sheet, profit and loss statements, and cash flow statements. Also, give an overview of startup costs, e.g., business registration costs, wages, rent, and other miscellaneous costs. Try to be as realistic and diligent as possible.
ADVANTAGES OF BUSINESS PLAN FOR STARTUPS
Since a detailed business plan offers an overall perspective of the whole structure of a company, it has a few advantages that make it a significant piece for any business. Here are a few ways a business plan can offer a significant competitive edge.
Creating a Marketing Roadmap
A business plan helps you to focus on the targeted market and audience. You will get a clear picture of how will you do the promotions, which marketing gimmicks you should use, and which channel you should use to reach out to them.
Insights on funds
A business plan aids by providing you with the viability of the business for the next 3-5 years. A business owner gets a fair idea about funds used, profitability, and revenue generation by preparing a business plan themselves or by taking help from a business plan specialist.
Better comprehensibility
Business plan writers are experts who prepare business plans to give you better comprehensibility of the decision-making process and identify priorities and milestones you need to have for your startup. A business plan can guide you on how and when to devote and divide your time, effort, and resources strategically.
Helps to attain talent
To run a business smoothly, a talented team and a set of partners play an important role. A business plan can help you bring in the right talent. A well-defined business plan helps the staff to understand the company’s vision, business objectives, and long-term goals. They can also comprehend how they can contribute to the business in their defined roles.
More structuralized version
When a business plan specialist works on a business plan, you get a more structured business plan and well-defined business management objectives. It can be used as a reference tool to track sales targets, progress, new developments, assumptions, failures, past mistakes, and other milestones.
Effective decision making
A well-framed business plan aids in anticipating future risks and taking conscious decisions accordingly. One can plan in advance about how to pitch, what to sell, and where to locate and make respective changes. Business plan makers design business plans in such a manner that you have all the answers and solutions for all the tough and impromptu situations.
Attract investors
A business plan gives investors an inside and out-thought regarding the targets, design, and legitimacy of the company. It helps to secure the investors’ confidence in the startup and encourages them to invest.
BUSINESS PLANNING-RELATED CHALLENGES FACED BY STARTUPS
No management school teaches you the formula for starting a business and running it successfully. You learn with your own experiences, which can be daunting at times. You face many challenges and unfamiliar situations when you establish a new business; some of them are here.
Building a Framework
Anybody can have great ideas, but getting those ideas on paper is the real challenge. To cope with this problem, many influential figures go by “the thumb rule of three”, which is three description points for the business, three reasons for how the business idea is different from others, and three reasons for why one should invest or get into the company.
Being concise
Many people find it difficult to keep it short and simple when there is so much to be said. However, experts believe that a more concise and focused plan helps in achieving goals in lesser time. Also, having realistic goals that line up with the plan is the key.
Overcoming fears
The biggest challenge people face is getting started. Despite chalking out everything, they fear to start because they lack experience. There is no success without failures, so one should at least try as every failure is a step to success.
Trying to be realistic
When people start planning, they think very high or great about the idea behind the business. They are just in a false illusion of earning tons of money or clients will come rushing through the doors, but try to hold yourself and please be realistic. You need to be prepared for all the eventualities.
Accepting that you too can go wrong
It takes time to learn all the intricacies that go into a successful business. Initial days are the most crucial when you can go wrong, as you don’t know how the industry players play the game. Accept your mistakes and learn from them and that is how experts work.
Trying to go against the flow
The market determines you and you do not determine the market. Don’t try to re-educate the market. No matter how good or different your idea or product is, just go by what the market teaches you and provide what it demands.
Supporting integrative thinking
Being emotionally attached to your idea can be your strength and weakness at the same time. The strength enables you to work harder and build a successful business, but your perception doesn’t allow you to see beyond it and you tend to ignore customers’ and investors’ perceptions. This is where a business owner takes the wrong turn. Embracing others’ perceptions will help you explore and help you grow.
WRITING A BUSINESS PLAN VS HIRING BUSINESS PLAN WRITING SERVICES
There is no right or wrong way of writing a business plan; the only thing that matters is it should align with your needs. You can choose either the traditional style or the lean style. Traditional business plans are more commonly used as it uses a standard structure and allows you to explain things in an elaborated manner. Whereas a lean business plan focuses on summarizing the important points and is a brief copy.
While some companies or people write their business plans on their own, most of them don’t have the time to do that. Many business owners also feel that they lack the necessary business writing skills required to write a convincing business plan for their audience.
You can hire a business plan preparation service to write a strong and detailed business plan. These services have business plan writers who have extensive knowledge of what works and what doesn’t. These writers refine your ideas and strategies, challenge and change your assumptions, fill gaps by doing extensive research and analysis, and will present a viable business plan. They mentor you throughout the business planning process, helping big and small companies by preparing business plans that help them attract more investors and clients.
HOW TO HIRE THE RIGHT BUSINESS PLAN WRITING SERVICE
Hiring the right business plan writing service can be challenging. You need to identify writers whom you can trust. When choosing your business plan writers, follow these tips in detail:
Get multiple quotes
For any small service, you bargain or invite multiple quotes, then why not while choosing a business plan preparation service. Invite at least three quotes. Once you receive them, compare their price quotations and choose the best price. Also, don’t forget to check the hidden charges. If you are still doubtful about any component, discuss it with the business plan writing team.
Research
Once you have shortlisted the business plan writing service companies, do your own research. Talk to industry experts and take their suggestions before finalizing any company. Check online reviews and ratings. Also, check the testimonials if available. You can talk to their clients if the business writing company meets deadlines and what is their success rate. Enquire if the business plan satisfied the stakeholders.
Interview the team
Once you are done with shortlisting the companies, you can interview the business plan writing team. Clearly discuss your requirements, targeted market, and business plan objectives. In addition, check what ideas they have about your business plans.
Sign the service contract
Once you are satisfied and finalize a business plan writing service, draft a service contract with clear terms and conditions. Be very careful while defining the nature and scope of rights and responsibilities of both parties.
Sign the service contract
SixPL Business Plan Writing Services
SixPL business plan writing services help you to pitch your business ideas with confidence. The business plan writing services help entrepreneurs and small-scale businesses to turn their ideas into reality. A lot of effort is put into combining strategic aspects with all the challenges and framing a well-designed document outlining pivotal elements, required to make the business a success.
SixPL business plan writing services not just craft impressive business plans, but also make them exceptional by adding infographics, graphs, and images, which makes them visually appealing and saves on investors’ time. The company claims to have access to premium industry reports and business insights, which are used to deliver precise and pragmatic business plans.
LivePlan
LivePlan is another business plan preparation service that supports both small-scale businesses and entrepreneurs. LivePlan is known for creating polished and professional business plans that investors want to see. LivePlan works by asking you a set of questions about your business and you just have to answer them. It is that simple. In addition, it guides you to enter specific financial information and does all the calculations at their end. The LivePlan software is equipped to develop business strategies and business plans.
Upwork
Upwork helps businesses find more flexibility and connect the right talent with opportunities. Its mission is to create more and more economic opportunities and help people have better lives. Upwork is one such platform that gets businesses of all sizes and talent from all over the world. It is designed in such a manner that it aligns with the goals of companies by finding them the right talent.
CONCLUDING REMARKS
Business Plan Writing Services are a fundamental tool for success and are crucial for companies, startups, or well-established ones in the current scenario. Business Plan Writing Services provides a well-drafted professional business plan as they have in-depth knowledge and years of experience. Invest wisely and help your startup to touch new heights by choosing the right business plan writing services.