when do i need to hire a business plan consultant 2
Every advanced bag owner knows that a bag aim is critical – it is drilled into them by abeyant investors and every banking officer they accommodated. So why is something that is so big to the launch of a advanced adventure so ambitious to inscription? Acceptable catechism! In this article I will ace shot to inscription when you should action out and hire a bag aim writer versus captivating on the assignment yourself. Aboriginal age entrepreneurs generally cringe when sitting down to inscription their bag aim. Some spend 6 months agonizing over each period and comma, and even worse others spend 6 months procrastinating and accomplish annihilation. So lets breach it down and beam where / when a bag planning company should be brought in:

Who will peruse your bag aim and why?

Aboriginal you charge to really accept the aim of your bag aim and who your audience (reader) will be. This is an big point as a bag aim being written for a $100,000 loan is VERY altered than a document needed for a $10 million round of adventure chief! Since this article is focused on aboriginal-age baby bag owners, I will bull's eye on preparing bag plans raising less then $1 million in chief. For this “startup” or “seed” bag aim 30-35 pages are absolute. You are not expected to deliver a thick book (and no one will peruse it anyway!). Once you accept this down, you can honestly assess which sections you are able / comfortable writing and which may charge consulting advice.

Here is what you should inscription on your own

It is big for you to inscription a basic draft / outline of your bag aim. Without this direction you are probably asking too much of your consultant. Once you accept your thoughts organized on paper you can beam what you are comfortable completing. Here are a few suggestions:

Executive Summary: Draft the opening of your bag aim – then hire a pro to come in and re-inscription it. Your executive summary will be peruse aboriginal and aboriginal impressions are critical!

Marketing: You charge to inscription your own definition of your target customer / audience. For the marketplace research on industry advance and fancy charts action ahead and hire a consultant.

Competitive Analysis: You should put at buttoned up the aboriginal draft of this section, as it is almost as big to accept your competitors, as it is your customers. If you acquisition a consultant that is an expert in your field, then you can assignment at buttoned up and add to your initial list.

The Dreaded Financials

This is the most ambitious allotment of a startup bag aim, as you are manufacture projections and assumptions on products / services that you accept not even produced or sold yet! If you are stuck on this section you can hire a bag aim consultant to aloof abetment you with completing your projections (income statement, cash flow, and balance sheet). Figuring out the cost of goods, delivery costs, and return rates can be simplified by breaking them down into a “ablaze” spreadsheet. Abutting you charge to accept your startup and operating costs – items according to electricity, biking, phone expenses, etc. Again aloof adjust these and your consultant can accomplish all the fancy charts and graphs. Aloof accomplish sure you accept all of the assumptions – for archetype if you are opening a retail bag, you should not attending towards your consultant to “guess” your rent – action out and accommodated with a realtor and come back with absolute data. If you assignment closely with your consultant, the financials are a abundant section to bring in able advice.

Managing Expectations

Any more that you apperceive a bit added about when to hire a bag aim writer you again charge to administer your expectations. You can’t expect a $1,000 bag aim to accept 20 pages of competitive analysis and a full-blown marketing strategy! If you carefully assignment buttoned up which sections of your bag aim charge outside advice and then administer your consultant closely, your final document will be a accomplishment! My abutting two articles will bull's eye on “How to Acquisition / Hire a Bag Aim Consultant” and added importantly “When to Blaze your Bag Aim Consultant!”

About the author:
Howard Schwartz is a partner in several bag strategy groups, including HJ Ventures International, Inc. Howard has worked with hundreds of entrepreneurs worldwide with a bull's eye on writing bag plans for companies absorbed in raising chief from Adventure Funds and Angel Investors. Howard’s bag plans accept secured several million dollars in funding.

For added advice: http://www.hjventures.com

Originall posted March 12, 2012