Paying for Your Business Plan Writing

An often repeated phrase that we’ve all heard before, at least several dozen times, is “you get what you pay for”. Although some of us may have heard this more than others, this saying is filled to the brim with truth and is applicable when developing your company’s business plan. Even so, for a small business with a small budget, it’s certainly enticing to go with a cheaper, low-end writing company. In the end, what all really matters is whether you’d rather take a risk or spend money. So what exactly do higher prices entail? Below are things that you can expect from hiring an upscale writing company.

Expertise

The higher quality business plan writing companies consist of a larger team with additional knowledge and expertise that you won’t get at the cheaper, low-end writing organizations. Any individual person in this team will have significant expertise in business plan writing. This staff should have a broad, knowledgeable history of experience that enables them to accurately analyze the viability of any particular start-up entering its select industry.

Team Approach

Additionally, these writing companies use a collaborative approach throughout your business plan’s development. This entails that each section of your strategy is researched and designed by a specialist with particular experience in that field. As an example, while the marketing specialists focus on the marketing strategy, the financial specialists focus on things such as the ratios and numbers. Though it may cost more, this ensures that each particular part of your business plan is reliable, well-rehearsed, and structurally sound to avoid any flaws that might cause your strategy to implode down the line. By having a team create the business plan, rather than an individual, weaknesses in the plan will be difficult to find when read by potential lenders or customers.

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Tone and Layout

A reliable, credible team will also convey the right tone and pitch that will excite your target audience. They will use their knowledge and research sources to follow industry standards and cater their use of jargon for those particular listeners. For example, if the business plan is being pitched to a potential lender, they’ll know to utilize data that implies a return on their proposed loans.

Customization

On the contrary, a less capable or qualified writer will probably use a “cookie cutter” template to compile your business plan. In doing this, the business plan will show a lack of unique qualities and an absence of any individualism by the business owner.

Even with quality expectations laid out in this article, how will you know if you’re choosing the best writing company? To ensure that you will actually get your money’s worth, see that you will be receiving a customized plan that is devised exclusively to your particular company. Research the writers backgrounds as well. Additionally, you should ask questions to the company about the process they take to creating your business plan. After asking your questions, if you don’t like what you hear then you can always continue to the next company on your list. If budget constraints aren’t holding you back and you are able to afford more expertise, you should know that you are “getting what you paid for”.

 

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About the author

Matthew Khalili – MBA Business Consultant

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