Always Write Your Own Business Plan If You Want to Be Successful

There is no shortage of ways to get your business plan written for you by everything from fly by night super cheap outfits found online to extremely high priced consulting groups who also promise to put you in touch with high caliber investors and escort you around to all the big money outfits. These options all have one thing in common which is that they deprive you of the critical aspect of business plan writing that most new entrepreneurs don’t understand – the business plan writing process is not about the writing but about the planning and that is what you miss out on if you have someone else write your plan.

A lot of people who hire these services do so because they have an idea but they feel they aren’t good writers or that by having it done “professionally” they will have a better chance of being able to raise money than if they were to write it themselves.

The problem with this thinking is that the key elements of the business that the plan is supposed to determine: what edge the company has over the competition, who the customers are and how they will be reached are now going to be left in the hands of the consultant to determine. Since the plan writers have no stake in the business and are only getting paid for the writing they are not going to necessarily take the time to determine the right answer to this or even worry about the feasibility of the answers they provide.

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8 Questions Every Entrepreneur Should Answer Before Writing An Online Business Plan

Whether you are writing your ideas and goals on a napkin at the corner cafe or hiring a professional writer to put your thoughts to paper, your online business plan is the lifeline to any entrepreneur’s success when leveraging the internet to promote and market your products and services. While business plans come in all shapes, sizes and formats the core elements should be the same. So make sure your online business plan is up to par by asking yourself these key questions. It can mean the difference between a successful home business and a failing one.

Key Questions Every Entrepreneur Should Ask When Writing An Online Business Plan

#1 Do you have what people want? What value do you have that people will be willing to pay for… is it a product, service, skill? You can have what YOU think is the brightest idea, but if no one if buying or no one needs what you’re selling, then you are out of luck. One of the main goals of your online business plan is to define what problems and challenges your target market needs and solve their problems with the knowledge and expertise your posses. This will help you outline the unique features and benefits of your product or service. Make sure you have them written out and use them as a reference when developing your sales and marketing materials.

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Get Help: Free Business Plan Software

Perhaps the most difficult part in any endeavour is the start-up phase. Indeed, this idea applies to any business venture. To reduce risk, a detailed plan must be prepared for proper guidance. This pre-opening strategy will help in defining goals and setting targets.A business plan contains information on company’s strategic actions, resources for financing and specific guidance in operations. Today, modern technology has offered variety of business plan software to serve individual business needs.

Free business plan software will help you create your plans easier by eliminating the tedious task of lay-outs and formats. The use of this systematize software will help you save time and resources. Step by step guidance is offered in many professional business plan software to avoid mistakes that are commonly committed in manual procedures. With its pre-formatted features, you can be assured of considerably low margin of error.

With built-in financial formulas, financial management will be stress-free. Instead of doing all the computation and dwelling with mathematics, you can just import your data and wait for the software to give out reports. Your need for statistical tables, graphs and charts will be conveniently catered since these are included in the software package. Various resources for industrial and business research are also available in detailed forms. So, you can get away with expensive research activities and outsourcing workforce to do the field-work.

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