Business Plan Development
I have written, read, critiqued, and edited Business Plans for many years for a wide variety of businesses. Developing a plan is a commitment to yourself and your business. Research has proven that founders realize a smoother road to execution and success, avoid pitfalls that can lead to fatal errors, and often expose new elements, causing the founder to pivot to a better business model.
Perspectives
Ideally, a plan is developed while still in the Ideation stage of development. That allows you to properly set up your business for launch and operation. However, a plan can be made at any time in your business journey. If you’ve already launched and started operations and need to address questions or roadblocks while still at an early stage, it’s not too late. The research and redevelopment of strategies needed to resolve your problems is very much the same process and effort you’ll use to complete a business plan. Your time can result in more significant benefits.
I strongly advise against using online templates, samples, or artificial intelligence to complete your plan. These are notoriously generic and are easily recognized by any professional to whom you present your plan, greatly diminishing their perception of your real understanding and ability to operate your business. An investor needs to trust that you and your business will be able to fulfill their Return-On-Investment (ROI) objectives.
Unfortunately, a Business Plan is often misconstrued as a necessary document to secure financing while overlooking the far-reaching benefits of a management tool. A Business Plan enhances strategic thinking, facilitates effective decision-making, and serves as a dynamic tool for adapting to an ever-changing business-as-usual landscape.
A key objective when researching and writing your plan is to anticipate any question that might be asked of you. In this context, a Business Plan is primarily a communication document that must be as objective as possible while presenting the business concept and potential as positively as possible. In that regard, your weaknesses should be presented as honestly as strengths but with definitive plans to overcome them. An investor then has a better perspective regarding your funding ask.
Process
Please review the Processing Procedure
Methodology
It is important to note that we will be working together to complete your plan. While you will be writing the plan, I will coach, make suggestions, and guide you in researching to understand your industry and competition. I’ll also provide content, editing, and presentation suggestions.
It is never advisable to have a consultant or ghostwriter write your Business Plan for you—that prevents you from having a full understanding of your business and how it will operate. If someone else writes your plan, you will not be able to intelligently discuss or defend your propositions and decisions with investors, onboarding partners/managers, and other interested parties.
In practice, you will get the greatest value if you can leverage each hour we spend together to about 4 to 5 hours of your time.
You don’t need to be a journalist to write your plan. I will guide and coach you through the process of developing the plan from scratch in a step-by-step process that delivers the true value of creating and understanding your venture. Through a series of video meetings and emails, I will
Provide and explain an appropriate outline for your specific business
Work with you to create the narrative sections
Review, edit, and offer tips so your narrative flows
Suggest research, charts, and references to include to establish credibility
Suggest missing concepts relative to positioning in your industry
Suggest collateral data and positioning to support the plan directly and indirectly
Ensure that your finished product is readable, defensible, and ethically places you in the best possible light
Narrative Section of the Plan
Based on your intended use of the plan for internal or external purposes, I will suggest an appropriate format and outline. I will then guide you through the writing process to enhance the presentation and integration of each element in the plan.
While writing ability and style are considerations, you don’t need to be a writing expert. There are many word, grammar, and spelling programs available to assist you in this process. Sentence structure and style can also be edited.
Tip: Don’t be afraid to continually jot down anything that comes to mind about your business. It’s much easier to have an abundance of information, however disheveled, that can be edited rather than have a blank page glaring at you.
Financial Section of the Plan
Every Business Plan needs to include a forward-looking financial analysis that supports the business model and relates to strategic and tactical execution planning. Specifically, this includes Proforma Profit and Loss, Cash Flow, and Balance Sheet statements, along with qualitative supporting data.
If you need Proforma Financial Statements for your business, I can provide these as follows:
If you are starting from scratch, I can provide this service in conjunction with developing your Business Plan at a discounted price.
If you have a Business Plan but do not have the accompanying proforma financials, I can provide these separately.
If you already have a forward-looking financial analysis, I can critique and suggest revisions.
Timeline
The time to develop and complete a Business Plan will vary based on the criteria mentioned above.
If you are starting from scratch, the project can take from 1 month if you are motivated to work consistently to 3 or more months if you have many other concurrent responsibilities.
There are so many variables to understand and connect that some invariably suffer due to inadequate or no explanation. My experience assisting many startup clients has proven that plans are both more accurate and will read better when completed with a high degree of consistency, such as a dedicated R&D and writing regimen of 3 to 4 times per week. In so doing, your research, concepts, and internal connections among the sections of the plan improve cross-referencing and make it easier for readers to connect the elements of your strategies. Meaningful, logical communication is key.
Deliverable
Your completed document will represent the project deliverable. You will then be able to use it to support applications for funding and share with prospective investors, management team members already on board or being recruited, prospective members of a board of directors or advisors, strategic partnerships, or any potential stakeholders.
The Business Plan will be your property and copyrighted accordingly.
Benefits
A Business Plan provides a myriad of benefits to the founder and management team:
Strategic Direction: Outlines the company's mission, vision, goals, and objectives.
Decision Making: Allows management to evaluate options and risks and make strategic choices.
Resource Allocation: Effectively allocate resources through financial projections, resource requirements, and budgeting, and optimally helps allocate funds, personnel, and other resources.
Risk Management: Develop risk mitigation strategies and contingency plans.
Communication: Both internally and externally. Convey the company's goals and strategies to employees, investors, lenders, and other stakeholders.
Performance Monitoring: This involves setting Key Performance Indicators (KPIs) and benchmarks to monitor and evaluate performance over time.
Attracting Investors and Financing: Investors and lenders often require a detailed plan to assess the viability and potential returns on an investment.
Legal and Regulatory Compliance: Ensure the company operates in compliance with legal and regulatory requirements and outline steps to meet legal obligations and obtain necessary licenses.
Continuous Improvement: Business plans are not static documents. They can be updated and revised as circumstances change. This allows management to adapt to evolving market conditions, technological advancements, and other factors affecting the business environment.
Pricing And Billing
Due to the unpredictable time frame from client to client, invoicing for this service is handled as follows:
A good faith deposit of $500 when our Agreement is signed, followed by
Four (4) equal payments of the balance due, usually bi-weekly, but can be discussed further.
The final payment is withheld until completion, regardless of the total time it may take. At that time, any adjustments, if any, will be made to the final payment.
Your estimate and initial invoice will specify the future payment dates.
If the plan is completed earlier, the final payment of the balance will be due within 5 business days of completion.
This payment plan will effectively stagger predictable, affordable payments over a manageable timeframe.
The estimated cost depends on the amount of effort and time required to complete the process. Unless you have a complicated business model, a budget of $1,000 to $1,500 should be adequate.
If you wish to include proforma financials in this process, I can provide these at an additional fee. Depending on the complexity of the business’ operations plan and the depth of analysis needed, a budgeting estimate of $700 to $1200 would be reasonable.
Free And Discounted Update Service
Up to one year after the final invoice payment, I will provide an additional 60-minute call at no charge to answer follow-up questions or assist you with new situations that may have evolved since our initial engagement. Simply email me to request an appointment time.
If additional assistance is needed beyond the free update call, I will provide any additional time at a 25% discount off my hourly rate.
Guaranty
If any service I provide does not meet your satisfaction and expectations of the stated deliverable, I will work with you to rectify the situation to an amicable resolution.