How Professional Business Plan Writers Can Boost Your Startup’s Success

The significance of a business plan document needs no separate highlighting. It is the blueprint of a business idea from concept to implementation and eventually landing in the hands of potential investors for funding purposes. Business plans have evolved to have shades of technicalities of modern-day business concepts, terminologies, and understandings. This blog highlights how professional business plan writers can help develop and write robust business plans for sustenance and success.

Knowledge and Finesse

Fewer entrepreneurs pre-possess the required level of in-depth knowledge and finesse to come up with a robust business plan. For example, someone with a family business background is likely to have a much better understanding of markets and supply chains of related products and services. The same could be said for someone with specialised qualifications and rich experience of working in a particular industry. Even if they do not possess the exact knowledge and insights, it is not difficult for them to pick up the ins and outs of the game in a short time. However, for a large majority of startups, gaining a sound awareness and understanding of markets and all the variables at play is still a challenge.

A premium-quality and robust business plan is the script for taking an enterprise to the highways of triumph. Think of a business plan as writing an exam. It is only when we have sound knowledge and understanding of the subject matter involved in questions that we can answer them properly and convincingly. For example, in both developing and writing a business plan, it is important to emphasise value propositions. Two competitors may offer the same set of products. It is the element of value that adds more meaning to their offerings. These value propositions must be first established and then highlighted in a business plan.

Experienced business plan writers often carry an insightful understanding of markets, industries, competition, prevalent business models, products and offerings, pricing strategies, and other relevant aspects that get covered in developing and writing a business plan. Another edge of working with professional and experienced business plan writers is their proven methodologies and solutions. For example, instead of building base templates, they can start their work with proven templates. Their solutions and processes are refined over time and adjusted to address a wide range of needs. The work and quality of knowledge and finesse they put into a business plan plays a decisive role in, what we mentioned earlier as, scripting the roadmap to business growth and success.

Expert and Outside Perspective

The significance of fresh perspectives cannot be undermined in any field. When we work on creating and improving something for too long, it keeps on becoming difficult for us to see it differently. Suppose you watch a movie 10 times a week, your evaluation of it will keep on getting more restricted. Eventually, you will not be able to add any new perspective. It is natural for entrepreneurs too to fall for this trap as they tend to work very hard in a very involved manner in developing and fine-tuning their business plans.

An expert and fresh outlook on any piece of work can elevate it to the highest of standards. This relates to business plan development and writing too. There are many areas in business planning where a fresh perspective by experts or professionals can help bring cutting-edge improvisations. It is not just improvements, they can also shed light on loopholes or weaknesses in a business plan. They can also suggest better ways to present the facts and figures keeping in mind the perspective of diverse stakeholders in business plans like investors, shareholders, suppliers, buyers, etc.

We can use an example to understand the above phenomenon better. In the ‘About Company’ section, most startups share the same standard information in one or the other way and make it more pleasant to the eyes of the readers with the element of graphics. As experienced business plan writers, we often see that the ‘about company’ section misses out on a significant milestone. This milestone is lending credibility and authenticity. After pointing this out, nobody disagrees. Think of it as an insurance agent sharing their visiting card that does not contain their registration number. It immediately lowers their credibility and authenticity especially, if you do not know them already. Compare this with another insurance agent having their registration number printed on their card. The second one has shared only one additional piece of information but it is making all the difference.

It is also common for reputed and experienced business plan writers to have strong networking within the business community and industry that can prove to be helpful in finding suitable business associates.

Saving Valuable Time

Developing and writing a business plan is often a time-consuming process. The vast majority of activities essential to business planning like market research, identifying and fine-tuning value propositions, competition analysis, operations planning, organisational design and structuring, and financial and commercial planning end up taking a lot of time. For those new to business planning, the process takes even longer as they have to pick up from the basics. For example, in market research, an extensive range of variables have to be studied covering demographics, competition, market size, gaps and voids, target segments, trends and developments, regulatory environment, impact of technology, future projections, etc. Even if we consider the aspect of value propositions, it is not so straightforward. To come up with the right value propositions, one has to also understand the customer journey. Omnichannel makes this task even more diversified. Similarly, each activity mentioned earlier has its own requirements. Time is a luxury startups cannot afford especially, in the business planning stages. They need to come up with a good business plan within a justifiable time range. Not being able to do so could mean losing an identified edge or market gap.

Business plan writers can provide the much-needed nudge in the process. Experienced professionals maintain and follow established strategies, methodologies, and processes. It helps them identify what approach and roadmap is to be adopted for each client. Instead of starting from scratch, they start right away with the best-fit set of solutions available to them making the necessary improvisations along the process. This gives a two-fold advantage to entrepreneurs. First, they get prompt access to adept resolutions. Second, they can focus on other aspects while keeping an eye on their business process development process. It is important for entrepreneurs to choose their business associates with due prudence and have frank and open discussions about the deliverables and timelines.

Investment Perspective

One of the critical objectives of a business plan document is to showcase the brilliance of business ideas and the prospects of returns from investments. In today’s global economic scenario, raising funds has become a challenging task. Factors like inflation, interest rates, and geopolitics make investors averse to moving out of their comfort zones. Secondly, investors are not always willing to invest heavily in any one startup. It does not let them diversify their risks. Thirdly, in the last decade or so, there has been a massive proliferation of startups. The presence of too many players leaves a market fragmented into pieces causing each player to have only a small share. It takes something out of the ordinary for startup ventures to capture an attractive market share. Fourthly, rapidly changing consumer behaviour, the quick evolution of technologies like AI and IoT, and the dynamics of ease of doing business have made investors tread carefully when it comes to investing.

Professional business plan writers have the advantage of evolutionary knowledge and expertise. Experts in this field are cognizant of the prevailing dynamics. They tend to carry more updated insights on the elements of a business plan from the perspective of attracting investment. We can use the example of a practising doctor. A practising doctor tends to remain aware of any emerging common and seasonal disease (e.g. cold, fever). There is a sudden spike in the number of patients with the same set of symptoms. Similarly, qualified and established business plan writers also tend to remain aware of the latest concerns and developments in the field of startup investment. This allows them to craft business plans reflecting and addressing the areas of concern and interest affecting the prospects of attracting investment. Experts can also fine-tune business plans concerning other stakeholders like shareholders, suppliers, clients, etc.

Expert-Level Financial and Commercial Projections

From the perspective of attracting investment interests, expert-level financial and commercial projections are critical to business plans. On the top of the list, potential investors are interested in knowing the prospects of revenue generation and profitability and the ROI and break-even time for their investments. Potential investors are also interested in knowing how an enterprise is going to use their funds. The quality of financial management and the tenacity for financial discipline are two important areas of interest for investors. Without these two, the bigger financial and commercial objectives cannot be achieved. Investors do check if there is a system of controls to keep costs and the utilisation of funds within the established budgetary limits.

In the context of financial and commercial planning, some of the important areas of work ideally covered by business plan writers are:

• Valuation of capital and operating outlays
• Demand estimates
• Sales and revenue forecasts
• Cash flow and working capital
• Pricing and margin analysis
• ROI and break-even analysis
• Calculation of financial ratios as applicable
• Estimated P/L statements (5 years at least)
• Estimated balance sheets (5 years at least)
• Internal and external funding

Presenting the Funding Requirements

Presenting the funding needs is one of the most straightforward elements in a business plan if the clarity of vision and implementation has been well-conveyed to potential investors. This section should be less of an effort and more of an outcome of what has been communicated in a business plan thus far. The convincing part is not to be addressed here but everywhere else in a business plan document. This should be the most confident and sincerest part of a business plan.

For startups, this often turns out to be the most anxious section of their business plans. Business plan writing for investors demands an experienced and sincere approach. That is why it is often recommended to go for professional business plan writing services or outsourced business plan writing solutions.

Summing up

A well-crafted business plan is the outline for taking an enterprise to the roads of triumph. Every entrepreneur need not necessarily have the required level of in-depth knowledge and finesse to come up with a solid business plan. Experienced business plan writers tend to have a core understanding of markets, industries, competition, prevalent business models, products and offerings, pricing strategies, and other relevant aspects that get covered in developing and writing a business plan. There are many areas in business planning where a fresh perspective by experts or professionals can help bring big improvisations. They can also bring attention to weaknesses in business plans. With their expertise and resources, business plan writers can leapfrog in the process and help save time. This, in turn, would create the scope of focusing better on other important areas of work. Professional business plan writing experts can develop and draft business plans emphasising the areas of concern and interest to various stakeholders including investors.

About Your Retail Coach

With a rising global presence, we are a retail and eCommerce consulting firm with expertise in solutions for business management and growth. With over a decade of experience, YRC has designed and delivered solutions to over 5 hundred clients in more than 25 sectors with a feat ratio of +94%.

For any kind of assistance in business plan writing, please drop us a message and one of our business plan consultants will shortly reach out to you.

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