22 Aug 2016, 09:25 — 7 min read
“A goal without a plan is just a wish.” - Antoine de Saint-Exupery
First & foremost, we must understand what exactly is a business plan. Well, in simple words, a business plan is a written description of your business’ future. That’s all there is to it, a document that describes what you plan to do and how you plan to do. If you jot down a paragraph on the back of an envelope describing your strategy, you have written at least a germ of a plan. But what is the need of a business plan if you have an idea? The answer is that a business plan is a valuable tool for every business owner, whether you are a startup, have been in business for years or are ready to grow. Think of your business plan as a sales document. It must convince readers that your venture has the potential to be successful. And without a business plan, you will leave far too many things to chance.
In an article, the great American entrepreneur, and published business author, Tim Berry said, "In my experience of leading various business planning workshops in countries all over the world, I’d say only about 10% to 15% of teams I have encountered have an effective business planning process. Sounds low, doesn’t it? What many business owners fail to understand is that good planning equals good management."
The crux of the above statement is simple. Just as a blueprint is required to ensure that a building will be structurally sound, a business plan writer plays a major role in creating and writing a blueprint for your business. A business plan; is therefore a document which helps you to determine whether your business will be strong from its inception or not.
Here are some points that will help you ascertain in what cases or situations, you’ll need the help of a business plan writer.
Here are 6 points that will explain the role of a business plan writer.
1. Clarify direction: The primary purpose of business plan writers is to understand your idea and your services and then explain what needs to be done to move forward. They allow you to think more clearly about what you are doing and where are you going. Besides this, they help to create a road map so that you can draw the exact product lines and detailed description of your customer.
“The future is already here - business plan writers just help to evenly distribute it”
Business plan writers assist you in understanding a brand new industry in an extremely deep way before actually entering it and enabling you to examine deeply how you would fit into the market.
2. Future vision: Businesses evolve and adapt over time. Business plan writers provide insights that take into account future growth and direction of the business. They provide an effective way to plan for changes in the market, growing or slowing trends and new innovations or directions to adopt as your company grows. Although clarifying direction in the business plans lets you know where you’re starting, future vision allows you to have goals to reach. They also help you to stay organised and remain on track.
3. Confirm the Math: Business plan writers allow you to make and break your idea before you launch it. They help you to create a financial model to project the ROI (Return On Investment) for several realistic scenarios. You can save a lot of time and frustration by thinking through the numbers and making sure it’s possible to hit your revenue and profit goals. Businesses without a plan can easily go off-target and revenues will suffer as a result. Business plan writers create a plan with expense projections, revenue forecasts, and help you to remain committed to your long-term goals.
4. Attract financing: By putting statistics, facts, figures and detailed plans in writing, business plan writers create a better chance of attracting investors to provide the capital needed for getting started.
5. Iron out possible kinks: Business plan writers allow you to think things through. They question the validity of your ideas, the product/service, target markets and so on. They compel you to do your own proper due diligence. They play an important role to articulate the vision and future plans for your company. Once these are down on paper, it can serve as a guide to allow you to track your progress and hold yourself accountable for the future.
6. Establish benchmarks: Business plan writers provide a valuable and iteractive document as a business plan that can serve as a successful benchmarking tool. Where did your business exceed expectations? In what areas did your strategies fall short? Business plan writers help you to find the answers to such questions.
As a single teacher cannot teach you all the subjects, a single idea cannot make you well established in the business world. To stay stable and excel you should have knowledge of the industry and marketing strategies. A business plan writer provides all such insights including business planning, financial modeling, market research & analysis, marketing plan & strategies, bookkeeping & accounting, pitch deck & storyboards and the list goes on.
Just remember, "Someone’s sitting in the shade today because someone planted a tree long time ago” and a business plan writer acts like a person who helped that ‘someone’ to plant a tree.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.
Posted byCA Yash Mantri
Chartered Accountant and Company Secretary by profession. All India Rank Holder 28, in CA examination . Founder @Infocrest (A Global Business Planning and Financial Modeling...
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