Price Consciousness
Of course we all want the best product or service for the best price. Most business plans are paid for out of the entrepreneur’s check book. While realizing that funds are precious, be sure to temper cost concerns with the wisdom that “you get what you pay for.” Business plans are not a commodity. All are not created equal. One size does not fit all.
About 30% of the clients that contact me do so after having paid another business plan writer to develop a plan for them that was a disappointment. Consider:
- Writing a business plan requires experience not only in writing but also in business, finance, sales, marketing, and often technology. Be sure your business plan consultant has experience in all disciplines. Many professionals can write but lack the business experience to write a plan that resonates with business people.
- Beware of cookie-cutter, low-cost business plan providers. Increasingly, I am being approached by people who paid to get a business plan written and received a document that they would not dare show their banker or investors. There are a number of software packages that provide business plan samples and templates. Apparently, many people have bought such software and advertise themselves as Business Plan Writers. The client gets a 35-40 page document that is mostly “boilerplate.” The plan does not communicate the “heart and soul” of the venture, does not reflect any genuine market research, and fails to convince the reader that YOU have done your homework.
My advice is -- Do it once and do it right. You do not get a second shot at credibility with a lender or investor.