Business Plan Writing Services
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Overview
Writing a business plan is crucial in starting a new business or scaling an already existing venture. It is a written document that outlines the goals, strategies, and projected returns on a company’s investment. Business plans help in securing funding and making sound business decisions.
Despite this document’s crucial role in strategic planning, writing is still a daunting task for most people. This is where a writing service comes in handy. If you need help with business planning, don’t hesitate to engage a consultant at Tutorsploit.
Why do you need a business plan?
A business plan will help you do the following:
Raise funding for your startup/small business
A business plan is the primary tool you need to secure funding for your small business. Banks, venture capitalists, and other financiers are more likely to provide loans to businesses with detailed plans.
This plan will enhance your chances of securing startup capital, especially in these challenging economic times.
Study your competitors
Another important reason for writing a business plan is doing a competitor analysis. This analysis will help you understand the strengths and weaknesses of your competitors then gauge your business.
Business planning will also help you to determine if the business you are starting is sustainable, profitable, and unique among competitors. It will also help you identify your target market and set competitive prices. Business plan writing services conduct extensive market analysis to ensure you’re well covered.
Instill accountability
Your business plan will become the reference point for all strategic decisions in your business. It will help you see if the business is progressing according to plan and where adjustments need to be made.
The plan should serve as a basis for quarterly and annual reviews and update meetings. This way, you will make sound decisions and keep a track record of your progress.
Ensure Internal planning
A business plan is also an essential tool for internal planning. It allows you to make plans for different business departments like human resources, finance, operations, and marketing. This will help you identify departments that need attention and those with growth potential.
Writing a business plan will help you put all the necessary information about your business in one place. This way, everyone involved with strategic planning will be using the same reference tool. This will improve consistency and eliminate any redundancies.
The steps for writing a business plan
Writing a custom business plan requires personalized efforts because no one business is identical to another; there’re always variations. Below is a step-by-step process for writing a business plan:
Hold a briefing interview
This step is applicable if someone else is writing your plan. The business owner and the business plan consultant meet to discuss various aspects of the business. The consultant, in turn, uses this information to build a template with which he will work on your plan.
Conduct market research
Market research is probably the most important step in building a successful business plan, especially for a startup company. Market analysis helps determine the actual viability of your business. You can use online resources to help you with this step. The consultant gathers information about the following:
Competitors. In this step, identify your direct and indirect competitors, strengths, and weaknesses.
Your market. The primary considerations here are your target customers and the size of the market to which you are selling.
Your product or service relevance. As this is the lifeblood of your business, it’s important to take time to make sure that you have a clear vision of what you want to offer.
Business modeling
This is one of the main steps of creating a business plan. It involves developing a business model to forecast how your company will grow in the future. Statistics and customer surveys can help you with this step.
Business financial projections
It focuses mainly on your budget and the resources needed to ensure a successful business. Consider all possible expenses such as equipment, utilities, and marketing costs.
Create financial projections for three to five years. These projections should also include various income streams that will help you sustain your business at different stages in its life cycle.
Create a business summary
This section focuses on the highlights of your business plan. It should include your company’s mission, vision, and offerings. Also, include a summary of your business growth strategy, the market opportunity that exists for your company’s product or service, and your marketing strategy.
Writing the first draft
After thorough market research, a business plan writing service will draft a first draft of the business plan. This is where your primary business ideas are put on paper. You will also add basic financial information to support your business plan.
A review by the client
The client is required to review the drafted plan to ensure that it adheres to their requirements. It’s essential to take time doing this because you can make edits to the plan as you go along. At this stage, you will also determine the feasibility of your business idea.
Editing and proofreading
The business plan expert will double-check the business plan for errors before presenting a final draft to the client. This step is crucial because some errors can cost you money and time if not caught early enough. You cannot afford a gamble when raising capital for your business.
Why business plan writing services?
| • Economical • Time-saving • Free consultation • High-quality plan • Guaranteed delivery |
Some small business owners opt to write their business plans despite the many challenges involved. However, hiring a professional business plan writer has many benefits, as discussed below:
Economical
If you are a business owner, you have better things to do than spending your valuable time writing the business plan. A lot of time and effort is required to write a business plan that can compete with those written by experts.
Time-saving
Writing a business plan is not a quick job. You can spend months writing a business plan that might not get approved. A professional consultant will be able to draft a better plan within a short time, saving you time and money.
Free consultation
Top business plan writing services offer a free consultation to their clients. Many people fear the business-planning process because they feel that it is very complicated. A consultant can help you build faith in your plan by instructing you on various aspects of a business plan. This is a great way to determine if writing a business plan yourself makes any sense at all.
A high-quality business plan
Top writing services create professional business plans. If you’re not an expert in writing business plans, a professional writing service will save the day. They have qualified and experienced business writers who will produce effective business plans. Expert writers use tools like market research, financial spreadsheets, graphic design services, and others to give you the best business plan ever.
Guaranteed plan delivery
Most writing services provide a money-back guarantee to their customers. This is essential because it reduces the risk of losing your investment. If you’re a small enterprise with a tight budget, you will appreciate that you can get your money back even if the business plan doesn’t meet your standards.
Who needs a business plan?
| • Startup owners • Those who need to scale up business • Those seeking to rebrand their business |
The following are specific categories of people who should consider using a professional business plan writing service:
Business startup owners. New businesses don’t have the time to write business plans. Many of them fail because they lack a business plan. A professional writing service will help you develop a practical and compelling business plan that you can use to secure funding.
Those who want to scale up their business. If you are a thriving business owner, writing a business plan will help you take your business to the next level. A business plan will help you know your most valuable customers, identify new markets, and expand into these markets using low-cost approaches.
Business owners seeking to re-brand their business. Business plan writing services can help you reinvent your image and market position.
How to choose a business plan writing service
| • Competency and experience • Other related services • Guarantees • References and recommendations • Turnaround time • Price • Customer support • Research support |
Business owners who want to use the services of a professional business plan writer should consider these factors.
Competency and experience. This is a factor that is very critical when choosing a business plan writer. A professional writing service has the expertise and experience required to develop an effective business plan.
It takes years of practice to become an expert in writing custom business plans for clients. The consultant should also have extensive experience in writing multi-page custom business plans. An inexperienced writer will make mistakes that could cost you time, money, and energy.
Other related services. Offering this writing as the only service isn’t necessarily an advantage. Good business plan writing services should offer other services that support new and growing businesses. Some of these services include creating web content, generating leads, writing business proposals, and so on.
Guarantees. Choose a business plan writing service with the following guarantees: Plagiarism-free work, money-back, timely delivery, free revision, and confidentiality, among others.
References and recommendations. A professional plan consultant should have references and recommendations from other satisfied clients. This shows that their service is worth trusting. Also, check customer reviews and ratings to determine if a business plan writer is worth your cash.
Turnaround time. A business plan takes a considerable amount of time to write. Therefore, it is important to know how fast your consultant can deliver your finished plan considering you might need a few edits. Top business plan writers work round the clock to deliver timely and high-quality services.
Price. Professional business plan writing services have various price options. Choose a pricing plan that you can afford to ensure that you get value for money.
Customer support. Professional consultants should have reliable customer support. Ask about the company’s working hours and how you can reach them by phone or email.
Research support. Are you planning a business that will compete in an already established market? A good writing service should offer research support to help you identify market gaps so that you can create a competitive advantage using your business plan.
What are the components of a business plan?
| • Executive summary • Business description • Marketing section • Operations section • Financial section |
A business plan usually has five major components: an executive summary, business description, marketing plan, operations plan, and financial projections.
The executive summary is a brief overview of the business plan. It highlights the primary goals of the business and market position.
The business description section describes the company’s identity, products, competitors, etc. A well-written business description is compelling enough to convince investors.
The marketing section is about how the business will attract customers and increase revenue.
The operations section discusses how the business will operate and grow. It also includes details about production and distribution, human resources, etc.
The financials section describes how the business will generate revenue and manage cash flow. It includes a forecast of future financial performance for the next three to five years.
Frequently asked questions about these writing services
Here are some frequently asked questions about business plan writing services.
What is a business plan?
A business plan is an essential tool that every entrepreneur should have. It is a document that details the goals and objectives of your business, both short and long-term. The plan should also highlight strategies for achieving planned goals.
How long does it take to write a business plan?
Writing a comprehensive business plan can take weeks or months, depending on the level of detail included. A good business plan consultant should be able to complete the entire business plan in a week to two weeks.
Does a business plan guarantee success?
No, a good business plan does not guarantee that your business will be successful. But, it does guarantee is that you have the edge over the competition by having a comprehensive plan to guide you.
Take Away
Writing a business plan can be a pain in the neck, especially if your time and skills are limited. If you are not an expert in writing business plans, it might be more prudent to leave this task to professional business plan writers. Also, If you choose to use a professional service, make sure that they deliver quality work and offer guarantees.
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