Our structured and efficient business plan service creates a professional plan in 10 days and after we will help you secure a bank loan or raise capital
Learn about business model, structure thoughts, identify working assumptions
Complete extensive market, industry, competitor, consumer, and financial research
Determine viability of proposed model and complete base financial assessment
Organize research findings, plans, and assumptions into written plan form
Edit and revise to maximize clarity, consistency, understanding, and actionability
Implement business model, execute with speed, seek to optimize, and reinvest proceeds
Learning how to write a business plan is a critical step on your journey to starting a company. A large majority of new businesses tend to fail because a comprehensive assessment of the model and competitive environment never occurred. These entrepreneurs were not able to anticipate bottlenecks, respond to competitive threats, value customer acquisition costs, reach new customers, price their products properly, source materials efficiently, secure the appropriate funding from banks, or manage the cost structure.
In this guide, our business plan consultants will provide guidance on the key pieces of a proper business plan and share best practices to help you and your team develop a robust and action-oriented strategy that helps you avoid the mistakes made by so many others. Our business plan writing services are highly regarded across the United States.
All strong business plan writers will open with a one to two page Executive Overview that introduces the audience to the nature of the business. The opportunity must be succinctly explained. Why does this business need to exist? What problem does it solve? Clear answers to these questions help tee up the entire business plan.
People start businesses because they potentially have identified an untapped market need. There is a looming consumer problem in need of a solution. The solution itself doesn't have to be product oriented. Rather, some companies are highly successful because they out-service the competition and this service is desired by end consumers. This distinction speaks to the importance of conveying your company's value proposition.
The financial review should address the revenue model, cost structure, and capital requirements to launch the business. Sharing in brief language what the business will monetize and how much it costs to do so is important. Readers will need to know very quickly what the financial ask is and how the model will work to service the debt obligations. Questions of continuity and sustainability will surface at this time as owners cannot rely on debt forever to finance overhead and operations.
No matter the industry, the economy will always play a role in the performance of a business. The broader macroeconomic environment influences interest rates, and thus the cost of capital. Consumer confidence and employment levels fuel or slow consumer spending and retail sales. The price of gasoline and other transport-related costs are influential for companies involved in logistics and transportation. Strong business plan writers will expand upon these economic impactors and how they will affect financial results. Some industries, e.g. car dealerships, are more susceptible to economic downturns while others, e.g., liquor retail store front, have proven more recession proof. Market research and market analysis are critical pieces of the puzzle as any successful strategy will fully understand and embrace the broader competitive environment.
As a startup begins the work of forming a business, there are several helpful tools to analyze the overall attractiveness of an industry. Michael Porter's five forces framework is an excellent choice for determining whether or not to enter an industry. In fact, some startups change gears completely after doing a thorough assessment of the industry. Studying the buyers and sellers reveals who the key stakeholders are and how much force each side exerts on the main industry players. Careful attention should be given to the threat of substitutes and new entrants as either scenario has implications for the proposed business.
Market sizing is a vital step in preparing a high quality business plan. This analytical exercise helps identify the amount of capacity a business must have in order to fulfill the market demand. Further, market sizing plays an integral role in the development of the proforma financial projections. There are entire books and some very helpful articles devoted to this practice. The most astute business plan consultants want to know the size of the market and also quantify the size of the prize.
This portion of the business plan takes an inward view of the business and begins to address, organize, and structure the makeup of the company. The management team will be introduced with their qualifications and experiences. Lenders and other investors are particularly interested in the capabilities of the proposed management team. Why will this individual or group of individuals be successful managing the proposed business? A well written management profile helps strengthen the business's credibility and improve the likelihood the business is awarded funding.
Writing a mission and vision statement is fundamental and will always precede any discussion of goal setting. The mission captures the primary purpose of the business. It seeks to answer this question: why does this business exist? The vision should speak to the intentions of the business. What the business plans to accomplish and by when should be clearly expressed in the vision statement.
Competitive positioning is at the heart of corporate strategy. At its most basic level a company can differentiate its offering or compete on cost. Strategies that blend the two create earnings headwinds. Resources are channeled inefficiently. The productivity of the strategy is maximized when a company is solely a differentiator or a cost leader. Michael Porter refers to this as competitive positioning.
From here, the business plan writers should move into an exhaustive review of the product, target market, and marketing plan. While the Executive Overview introduced these elements, this section should go into great detail about what the product is, how it works, and why someone would be willing to pay for it. Trying to reach a broad audience typically is poor marketing. A segmentation should be done as to break down the target population into groups which simplifies the marketing communications and lead generation processes. A deep dive into how the company will reach its target audience should conclude this section. This will involve granular discussions of the website, social media marketing, search engine optimization, pay-per-click advertising, and other lead generation activities.
Bankers, investors, zoning officials, and other public servants are objective people. These individuals are less concerned with the owners' intuition about the viability of the business and are more interested in the financial composition of the company. Further, many investors, and the SBA in particular, require certain financial documents. In this section the business plan writers should prepare three year financial projections. Back of the envelope math is not sufficient here. Tremendous effort and analytical rigor should be put into developing these projections. In some cases a pitch deck or investor presentation is assembled to illustrate these financial elements.
The financial plans for the best plans we have seen are composed of a cost structure overview, profit & loss, balance sheet, cash flow statement, breakeven analysis, sensitivity analysis, and a thorough revealing of the underlying assumptions of the financial model. Again, there are endless resources on the web and we highly recommend working with professional business plan consultants with proven experience compiling these critical pieces. The business plan services provided by our team will prepare you to be successful.