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.


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