When it is time to write a business plan, entrepreneurs are faced with their first major decision before one word is written. Should the business owner personally develop the plan, or should the business plan writing be outsourced?
There are some entrepreneurs who are capable of writing their own business plans, or have access to someone with experience who is willing to help. However, many people simply do not have the skills needed to produce a high quality business plan that meets goals. These are the people who are often discouraged because they do not understand the role of the business plan in the fund raising process and have no idea how to go about convincing investors the business idea is one that will succeed.
Even the best business idea needs validation, and that is a major purpose of the business plan. It clearly describes the business and delivers a message that this is a workable realistic business concept and model that is market sustainable. Getting that point across is not easy which is why so many entrepreneurs outsource the business plan development.
The advantages of letting professional business plan writers assist with this important task include:
• Time Savings – The SBA says that their research indicates it can take up to 400 hours to develop a quality business plan.
• Access Expertise – Entrepreneurs gain access to business expertise they could not afford otherwise when outsourcing the business plan writing.
• Learn about Meeting Investor Requirements – Knowing there is a need for capital is not enough. Funders and lenders have specific information they look for in the business plan. The business plan should be customized to meet the entrepreneur’s business needs and to address the requirements of a specific type of investor, whether an angel investor, equity funder, or financial lending institution. While working with the professional business writer, the entrepreneur also gains critical information about investors and how to appeal to them during presentations.
• Earlier Business Launch – Professional business plan writers can generate a document in a much shorter timeframe which means the business can find funding sooner and launch earlier.
• Adaptable Business Plan – The business plan is designed to make it easier to adapt the document to specific needs as they change. For example, a business plan needs to be amended based on feedback from bank lenders.
Business owners who decide to outsource their business plan development need to make sure they utilize experienced writers with business experience. The consultants at OGS Capital will readily answer questions about the development process and can provide information about their specific qualifications. Each client is assigned a team of business analysts and researchers who have relevant industry experience. Since a team of writers work on the project, the entrepreneur gets the additional benefit of having a variety of perspectives input into the process.
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.