Question

In: Economics

Would you write the business plan yourself, pay someone to write it, use a business plan...

Would you write the business plan yourself, pay someone to write it, use a business plan software program or any combination of these ideas? Explain your decision!!!

Solutions

Expert Solution

The best way would be to use a combination of the three:

You will spend quite a long time studying the very basics of business management (if you don't have a degree). You will learn how to start and manage a business, as well as improve your business finance and investor relations skills. You 're able to start writing a business plan for your venture with all this knowledge in your head, but most likely you'll figure out that the right moment to actually launch the project has gone away while you're doing your research.

People have been writing business plans for decades, and there's nothing more natural than googling models for downstream business plans. Ok, it's quite a struggle to find really good ones. Don't just restrict yourself to examples from your business. What you need is a skeleton, a pattern, a to fill in questionnaire. Each business project is special but all follow the same principles of management

And if you correctly write down your revenue projections and company expenditures, the program will automatically produce a cash flow statement! So you can be sure that using business plan templates and software you have included all of the critically important information in your business plan and you have the document most investors expect to receive.

To write your business plan, recruit a qualified business plan writer or even a team of business plan consultants.- The big challenge here is to find the right guy, the one who knows how to write business plans. So be able to spend some time reading bios, feedback and independent opinions. It could take as much energy as writing a business plan yourself. Once you have found the business plan writer you will need to include your plan details.

Writing a business plan would be like doing your homework before you can introduce your idea to potential investors or business partners. If you are well trained, comfortable and generally qualified, or you simply have a beautifully designed paper and know nothing about what's inside, the audience will always feel like you are. So whatever option you chose, make sure you know your subject perfectly, have answers to all the fundamental questions about your venture and are ready to get deeper in every detail.


Related Solutions

Use the steps of the Business Plan, design, and write a business plan for your business....
Use the steps of the Business Plan, design, and write a business plan for your business. The product or service could be real or fictitious. Use the steps of the Business Plan, design, and write a business plan for your business. The product or service could be real or fictitious.
What three points would you use to respond to someone who claims that business ethics is...
What three points would you use to respond to someone who claims that business ethics is a fad? please explain in detail
Take yourself as an entrepreneur, Please draw a business plan for one investment project you want...
Take yourself as an entrepreneur, Please draw a business plan for one investment project you want to do. Requirements: 1. Design a new company that relies on a certain competitive strategy (one of the five) in a selected market. 2. Who is this company? Your vision and mission statement. 3. Describe the competitive strategy you have chosen. 4. Why do you think the competitive strategy suits well the market you choose? Why do you think this competitive strategy will work...
Write ONE proposal for behavior change. This could be a behavior change for yourself or someone...
Write ONE proposal for behavior change. This could be a behavior change for yourself or someone else (friend, family member, etc.). The behavior change program should incorporate and specify at least two basic principles of behavior (e.g., reinforcement, punishment, stimulus control, prompting, etc). You may elect to increase/decrease the frequency of an existing behavior, establish a new behavior, or some combination. It will also be important to incorporate examples when designing your behavior change program (I.e., describe the experimental design...
Project yourself as an entrepreneur of a small scale business in your country: Business Plan format...
Project yourself as an entrepreneur of a small scale business in your country: Business Plan format required. A title page, (a) General Business Description • Mission Statements • Company goals and objectives (b) Business Philosophy • Target Customer • Industry Description: Is it a growth industry? What long term or Short term changes do you foresee in the industry? How will your company take advantage of it? • Company strengths and core competencies: What factors will make the company succeed?...
Assume yourself as an entrepreneur of a small scale business ( Restaurant ) Financial Plan The...
Assume yourself as an entrepreneur of a small scale business ( Restaurant ) Financial Plan The financial plan consists of a 12‐month profit and loss projection, a cash‐flow projection, a projected balance sheet, and a break‐even calculation. Together they constitute a reasonable estimate of your company’s financial future.
You plan on retiring in 20 years. You plan on making an annual payment to yourself...
You plan on retiring in 20 years. You plan on making an annual payment to yourself in retirement and the first payment will occur 20 years from today. You plan on needing to make 25 payments as you plan to live 25 years in retirement. To keep up with inflation, you want your retirement payments to grow 3% ann. As part of your retirement planning, you deposited $75,000 into a savings account 8 years ago. However, life etc. got in...
You plan on retiring in 20 years. You plan on making an annual payment to yourself...
You plan on retiring in 20 years. You plan on making an annual payment to yourself in retirement and the first payment will occur 20 years from today. You plan on needing to make 25 payments as you plan to live 25 years in retirement. To keep up with inflation, you want your retirement payments to grow 3% ann. As part of your retirement planning, you deposited $75,000 into a savings account 8 years ago. However, life etc. got in...
1. If you were to consider yourself and entrepreneur, would you rather start your own business...
1. If you were to consider yourself and entrepreneur, would you rather start your own business or buy an existing one? Justify and explain your answer thoroughly. 2.. Given y our answer to question number 1, would you utilize a venture capital firm? Why or why not?
Use the following study question and population to write how someone would sample the population in...
Use the following study question and population to write how someone would sample the population in order to obtain a representative sample. Explain a way sample using each sampling technique ( simple random sample, cluster sample, stratified sample, systematic sample) What is a typical student at “X” college? Population: all students enrolled at X college taking college credit classes. Paper needs specifics about each sampling method and described in details, using values for the population and the sample size (...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT