Business Plan Tools & Guidelines

Business Plan Templates

business plan templates, business plan, business templatesWhen you create a business plan, you can write it yourself, with the help of books, business plan templates and experts, or you can pay someone else to do it for you. This latter option, while appearing simpler, can be expensive. In theory, it is the business owner who should create the business plan, although the process can be very demanding.

Business plan templates

Business plan templates can be found in professional software, on the Internet or offline. You can avoid the risk of producing a standardized plan, lacking in originality, by personalizing those sections which allow this. You can do more with the executive summary than you can with figures and tables. The executive summary, if written compellingly, may be decisive for the overall quality of the plan. So how do you choose the most appropriate business plan software to create the best image of your business? Look for these features:
  • Easy to use
  • Best-suited to your domain of activity
  • Teamworking if necessary
  • Software support
When building the plan yourself you may need to resort to professional consultants in various specific fields if necessary — economics, marketing, personnel management etc.

Advantages of building a business plan by yourself

  • the owner is the only one who can express best what his business consists of in detail;
  • is less expensive than hiring a professional writer;
  • you can use software templates that provide samples;
  • using softwares prevents you from omitting important information;
  • you will learn more about your own business seeing it from various perspectives and will be able to self-evaluate;
  • you will learn more about fields like finance, marketing, sales, product planning etc.

Disadvantages

  • time consuming process;
  • requires much effort;
  • requires writing ability;
  • implies resorting to professionals for specific domains, which may be costly.

Hire a business plan writer

A second option you have is to hire a business plan writer who will do the job for you. The important thing here is to make the right choice. That is, for best results you need to find a professional with relevant training, experience, portfolio and recommendations. As you are the one to know best all the ins and outs of your business, it is essential that the writer always keep in touch with you at all stages.

Advantages

  • time saving;
  • expert approach to creating a business plan, ensuring optimum parameters for your document.

Disadvantages

  • may be rather costly;
  • you do not have the chance to analyze your business yourself from the complex perspective opened by a business plan;
  • unless a successful communication procedure is developed, the plan may result inaccurate, not representing your business best.