July 31, 2012 by Frank Goley, Business Consultant
If you are seeking funding for your business and considering a professional to build your business plan, then I would recommend both a business plan writer and business plan consultant. I would also add a business plan designer to the mix as well.
If you are building a business plan to use primarily for the success and growth of your company (not a specific purpose funding business plan), then you most definitely need an experienced business plan consultant. A writer in this situation won?t cut it.
What is the difference between a business plan writer and business consultant?
Business Plan Writer
A business plan writer is a professional writer that makes a business plan read better. The writer ensures the business plan is grammatically correct and pulls in and engages the reader (audience). The business plan writer also organizes the business plan so it presents well, making the plan easy to follow and simple to find information quickly.
Typically a writer will not ?consult? with you heavily. A writer?s job is to write. So for a writer to do a good job on a business plan, the writer needs good information and guidance. If the writer is not assisted by a capable business plan consultant, who works with the client to develop a viable business plan, then the writer will most probably produce a ?limited? and ineffective plan.
If you hire a business plan writer solely (without the support of business planning consultants), typically the writer will have a conference call with you to get the gist of your business plan purpose, and then writes the business plan. The result is typically an over-simplified and generic business plan that doesn?t relate much to the business, and doesn?t really address whether the business model and opportunity are viable.
Business Plan Consultant
A business plan consultant spends most of the time developing the business plan through close communication and consultation with the client. An experienced and effective business plan consultant has a proven and time tested business planning process that helps the client to work closely with the consultant. The result of a successful business planning process is determination whether the business model is viable, and if not, what needs to be changed and adjusted so that it can be viable. The planning process also kicks out the key information for a successful business plan, as well as, provides insightful research to support the plan?s assertions and strategies.
A business consultant DEVELOPS a business plan through a proven process, while a business plan writer, WRITES the business plan from information that is made available. There is a big distinction here: the difference between developing and writing a plan. For an effective business plan, first business plan development is necessary, to be followed by business plan writing (and then designing).
A business plan consultant is experienced in business, finance, financials, marketing, strategic and business modeling? all those things that make up a good business plan. A writer is experienced in writing, language use, organization, grammar and syntax. One is experienced based (consultant), one is more academic based (writer).
So Who Should Write Your Business Plan?
If you are looking into hiring a business plan company, make sure that?
- Number One (most important): They have experienced business plan consultants who work from a customized and successful business planning process. Ensure the consultants are MBA level in education and have ample business experience.
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- Number Two: They have good business plan writers to make the plan more professional and readable.
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- Number Three: They have a good business plan designer. A professionally designed funding business plan can make the difference in getting noticed or going to the bottom of the pile.
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- Number Four: Confirm that all three (business plan consultant, writer and designer) work well together (good project management), and they are all in-house. Using separate freelancers for each of the business planning functions (developing, writing, designing) results in a disjointed and ineffective business plan.
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- Number Five: Check out their sample business plans. Do they pull together the necessary capabilities and synergies of a business plan consultant, writer and designer? Or are they just ?stock plans? with little substance and flair?
I have been developing, writing and designing business plans for a long time (20 plus years). One thing I know for sure in today?s lending market and private equity market?If you do not have a good team consulting, writing and designing your funding business plan, then you will be hard pressed to secure the finance your company needs to be successful.
Posted in Business Planning.
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