Most entrepreneurs would agree that the best way to start a business is with a business plan, but that is as far as they make it in the actual development process. The thought of writing a business plan is simply too overwhelming, requiring in-depth knowledge of business principles and practices. Too many startups begin with a good idea but without a firm plan that reflects forethought on issues like cash flow or how the enterprise will pay its bills and meet customer needs for product and services until profitability is reached. These are critical success factors, and there are many more.
How much capital is needed to secure space or buy equipment? What are the marketing plans and how does the owner know they will be effective? What are the plans for growth and what risk management strategies are in place to ensure the business can grow and expand while remaining competitive? What is the best way to describe new products so that business plan readers understand their uniqueness? A well-written business plan approached step-by-step will force the business owner to think beyond the excitement of a new idea and get down to the hard realities of operating in competitive markets.
Do you need a business plan written?
The other reality is that many people need business plans written and have no idea how to get started or are confused about what sections to include, the document layout to use, the business language requirements, or how to present the business in a captivating manner or in a way that attracts investors. For these reasons and many more, people turn to consultants for help with:
• Developing a reasonable or realistic plan that accurately reflects the business strengths, weaknesses, opportunities, and strengths
• Organizing the information and materials so it is easy to understand
• Ensuring all the sections are included, like Business Description, Marketing and Sales Plan, Operational Plan, and Financial Statements
• Determining appropriate supplementary material to include with plan
• Customizing the presentation so it represents the uniqueness of the business
• Getting the business plan finished in a reasonable amount of time
Business competition starts long before the doors open if investors are needed for startup capital. Equity partners, venture capitalists, and angel investors read hundreds of business plans looking for the right opportunity. There are always risks associated with starting or expanding a business, and investors are experts at ferreting out the information needed to make an investment decision. One of the many advantages of getting professional help with writing a business plan is that an experienced consultant understands how to write to a specific audience, in addition to capturing the business owner’s ideas.
OGS Capital can help entrepreneurs with the business plan development process, offering tips, resources, and advice based on years of experience. Complete the short online contact form to get the process started.
Illustrative business plan samples
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.