Hiring a Business Plan Writer: What it takes | Pricing – WritersGig Blog

Let’s say for a moment that you’re a business owner or want to start a new business, have a business plan should be one of the first steps to take, and it may not be wise for you to create your business plan yourself. So, hiring a business plan writer to create your business plan is the right choice for you.

Creating a business plan can be quite difficult, but necessary. A business plan is used for various tasks, such as: determining the focus of your company, securing financing, and attracting new investors.

What is a Business Plan?

A business plan is a written document that details how a company (usually a new one) will achieve its goals. It describes the nature of your company, your sales and marketing strategy, and the financial background of your company.

It also includes a forecast income statement. Just as a contractor uses a design to make sure a building is structurally sound, the process of creating and writing a design for your company – called a business plan – will help you determine if your company will be strong from the start.

Without a business plan, you are leaving far too many things to chance. If you’re not sure how to create a business plan, hire a business plan creator to create one for you.

A business plan is not a one-time task; it is an ongoing practice. The writing, formatting, and makeup of a business plan are nowhere near as important as its content (although they are still important). and its content should change often.

Real companies with real business plans review and revise them frequently. When you have an event where a business plan is a requirement for a loan, investor, divorce settlement, or strategic ally, you need to go beyond the basics and formalize a business plan with well-written summaries and descriptions.

Who is a Business Plan Writer?

A Business Plan Writer is a professional that specializes in creating comprehensive and well-structured business plans for individuals or companies.

The primary roles of a business plan writer is to gather information about a business idea, industry, target market, and financial projections, and then organize this information into a coherent document that outlines the goals, strategies, and operational details of the business.

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Importance of a Business Plan Writer

The importance of a business plan writer in an organization stems from their ability to contribute to strategic planning, communication, and overall success. Here are the several key importance of a business plan writer:

1. Strategic Guidance

Business plan writers assist organizations in developing a clear and strategic road map.

By conducting thorough market research and analysis, they help identify opportunities, assess risks, and define a realistic plan that aligns with the organization’s goals.

2. Effective Communication

As we all know that Business plans are important communication tools to every business. So, a well-written business plan ensures that internal teams, stakeholders, and potential investors have a comprehensive understanding of the organization’s objectives, strategies, and operational details.

3. Investor Attraction and Funding

Business plan writers play a vital role in securing funding or investment. Investors and lenders often need a detailed business plan to evaluate the viability and potential profitability of the organization.

A professionally crafted business plan enhances the organization’s chances of attracting financial support.

4. Operational Efficiency

Beyond financial projections, business plans outline the day-to-day operations of the organization. A business plan writer helps in organizing and presenting key operational details, ensuring that teams have a clear understanding of their roles and responsibilities.

5. Adaptability to Change

Business plans are living documents that may need adjustments as market conditions, industry trends, or internal factors change. A business plan writer creates a document that is adaptable, allowing the organization to respond effectively to evolving circumstances.

6. Decision-Making Support

The process of developing a business plan encourages organizations to thoroughly analyze various aspects of their operations.

This analysis provides good understanding that support informed decision-making, helping the organization navigate challenges and capitalize on opportunities.

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7. Professionalism and Credibility

A well-prepared business plan enhances the professionalism and credibility of an organization. It shows stakeholders, including employees, customers, and partners, that the organization has a clear vision, understands its market, and is committed to achieving its objectives.

8. Goal Alignment

Business plan writers work to align the business plan with the organization’s overarching goals. This ensures that everyone in the organization is on the same page, working towards common objectives, and fostering a sense of unity and purpose.

What key elements are needed in a business plan?

Regardless of whether a business plan is to be shared with investors or partners, the key elements of any business plan should include the following

• Executive Summary
• Business overview,
• market analysis,
• competitive analysis,
• Section on organization and management,
• Description of your product or service
• Sales and marketing strategy
• Financial plan.

Why is a Business Plan important?

People often believe that a business plan is for startups that need investment or companies that need credit. While a business plan is especially useful for new businesses, it will benefit any business.

Every business, from charities to non-profits, should have a clear business plan.

A business plan helps you get a clear picture of the whole company, prioritize your goals, stay accountable, develop a strategic course of action, and manage your cash flow.

It also helps you develop strategic focus for your business and make course corrections to prevent your business from going down.

Hire a business planner to understand how a business plan will help your company.

Why should I create a Business Plan?

Writing a well thought out and organized business plan will greatly increase your chances of success as an entrepreneur. A good business plan can help:

• Determine if your company has a chance of making a good profit
• Provide an estimate of your startup costs and how much you need to invest or fund
• Convince investors and lenders to fund your business
• Provide a sales estimate (by defining your market – who your customers will be – and the percentage of the market you are likely to reach)
• Make money from the start by developing an effective marketing strategy
• compete in the market (by analysing what your competition is lacking) and
• Anticipate potential problems so you can solve them before they turn into disasters.

Types of a Business Plan

Choosing the appropriate type of business plan depends on the specific needs, goals, and stage of the business.

Each type serves a unique purpose and helps address different aspects of strategic planning and business management. Therefore, here are the types of business plan

1. Startup Business Plan

This type of business is created for new businesses seeking to establish themselves in the market. It typically includes information about the business concept, target market, competitive analysis, and financial projections.

2. Internal Business Plan

This is the business plan that used for internal audience within the organization. It focuses on operational details, strategies, and goals to guide the day-to-day activities of the business.

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3. Strategic Business Plan

Strategic business plan Concentrates on long-term strategic goals and initiatives. It outlines the vision, mission, and high-level strategies that will guide the organization’s growth.

4. Operational or Annual Business Plan

This business plan is designed for short-term planning, usually covering a one-year period. It includes detailed operational plans, budgeting, and specific actions to achieve short-term objectives.

5. Feasibility Business Plan/ Study

This business plan is used before starting a new business or launching a new product. It assesses the practicality, viability, and potential success of the venture.

6. Financial Business Plan

Financial business plan emphasizes financial aspects, including budgeting, revenue projections, and cost analysis. It is important for attracting investors and securing funding.

7. Sales and Marketing Plan

This types of business plan focuses on sales and marketing strategies, including target market analysis, promotional activities, and sales forecasts.

8. Exit Strategy Plan

In this type of plan, they outlines the plan for an exit or succession, indicating how the business owner intends to exit the business, whether through selling, passing it on to family, or other methods.

What are the different aspects of creating a great business plan?

There are many aspects to creating a great business plan.

Market research

You need to do extensive research in the following areas:

• Customer research: Find out who your target customers are and what their wants and needs are
• Industry Research: Identify the size of your market and the trends that are influencing it
• Competitive research: identify your direct and indirect competitors as well as their strengths and weaknesses
• Financial Research: Understanding realistic growth rates and costs (salaries, etc.) so that a realistic financial model can be created

Strategy

Armed with market research, you need to develop the optimal growth strategies. For example, if in your research you have identified an unmet customer need, you should develop strategies to take advantage of this opportunity.

Financial modeling

Your financial model or projections may be the most important part of your business plan. Poorly founded financial models will deter most investors. Worse, if your financial projections require too much or too little funding, it will cost you a lot of money.

Writing

While it’s important to be a good business writer, it’s even more important to understand the needs of the audience. For example, the world’s best business writer probably didn’t spend much time with venture capitalists.

As a result, they have no idea what this audience wants and probably wouldn’t write a business plan that appealed to them.

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How much does it cost to hire a Business Plan Writer?

Remember that good advisors are in great demand and charge accordingly. Far better to budget for the planning phase and only hire someone well when you can pay their fees than hire someone who doesn’t know what they’re doing and waste your money.

The cost of writing business plans varies between service providers, as well as in terms of length and difficulty. The typical business plan creation fees charged for an average business plan creation are between $600 and $1,000. Very complex business plans can cost more, but should rarely exceed $5,000.

A professional business planner will typically charge anywhere from $5,000 to $20,000 for a full business plan (although there are cases where $50,000 is warranted).

The lower end applies to “simple” businesses like a pizzeria, small retail store, hair salon, etc.

If your business plan involves new or complicated technology, unusual or multiple sources of income, or requires significant investment capital, expect fees at the higher end of this scale.

A good business planner has enough experience to find a way through complexity and find solutions.

What Should You Look for When Hiring a Business Plan Writer?

First and foremost in hiring a business plan writer, make sure that they are really professionals. Pay attention to the following:

• Do you have a credible website?
• Are you trained?
• Are you doing this for a living or is it just a hobby?
• Do they have satisfied customers and will they refer you to those customers?
• Do they understand your business?
• If the answers are yes to all of these questions, you might be in luck.

FAQs – Hiring a Business Plan Writer

Conclusion

Hiring a business plan writer is not just an investment; it’s a strategic move towards success for any business owner. The benefits, from saving time to enhancing credibility, make it a worthwhile for any business, regardless of size or industry.