Who Will Write a Business Plan For Me? Outsourcing Your Business Plan Development
Starting a new business can be an extremely challenging endeavor that requires a significant time commitment and expertise across many different areas. Developing a comprehensive and high-quality business plan is a crucial first step, but it is also one of the most time-intensive parts of launching a venture. If you are already stretched thin and lack experience creating business plans, outsourcing the writing of your plan to an expert business planner can help ensure you get a polished document that covers all the right elements to help attract investors and guide the launch of your company.
There are several options to consider when looking for someone who will write a business plan for you, including using business plan template software, hiring freelance business plan writers, or working with a specialized business planning consulting firm. Each option has its advantages and drawbacks depending on your budget, timeline, and specific business needs. Let’s take a closer look at these outsourcing alternatives.
Business Plan Template Software
The cheapest and most accessible option is using template-based business plan software. Many companies offer software packages ranging from $50-200 that provide pre-formatted templates with instructions and placeholders to input your company details. Popular options include LivePlan, Palo, and BizPlanIt.
Templates automate the structure and formatting, but leave the content creation fully up to you. They aim to simplify and standardize the process, acting as a guide for formatting your plan’s executive summary, company descriptions, market analysis, operations plan, management team, and financial projections.
Pros of templates include the very low cost and flexibility to work on your plan yourself at your own pace. They are also easily sharable with potential investors or partners via downloadable PDFs. The downside is templates still require you to do all the research, analysis, and writing yourself with little guidance or expertise shaping the final document. Plans created without experience can end up generic, superficial, or missing key elements needed by readers.
Freelance Business Plan Writers
For a step up in quality and specialized expertise, consider hiring an experienced freelance business plan writer. With years handling dozens of unique plans across industries, freelancers know what makes an effective plan and how to position your company story in the strongest possible light. Rates typically range from $500-3,000 depending on the business complexity and required plan length/depth.
Pros are gaining heavily customized content and strategic guidance from someone focused solely on your plan. Freelancers are adept at conducting interviews to fully understand your vision then translating it into a cohesive, convincing narrative. Cons are the higher total cost versus templates and lack of ongoing relationship/support once the initial draft is complete. Quality can also vary widely depending on the specific writer.
Business Planning Consulting Firms
For businesses requiring an intensely thorough and professional plan, a specialized consulting firm offers the highest level service. Rates average $3,000-10,000+ for tailored plans developed by teams of expert consultants and business strategists.
Firm consultants will conduct in-depth market research, competitive analysis, and financial modeling to develop an exhaustive strategic blueprint. Beyond the plan document, many firms provide ongoing advisory services post-launch. This ensures your plan evolves with your company over time as recommended strategies are implemented.
While the most expensive option, a consultancy’s collaborative process and continued involvement deliver multi-dimensional value that can make a difference in securing major funding or partnerships. Downsides are the time commitment required for research/interviews and high upfront costs that are beyond many early-stage startups.
Choosing the Right Fit
There is no universally right answer – it depends on matching your unique situation and goals. Consider your budget constraints, timeline urgency, business complexity, required plan depth and interactivity. Templates are sufficient for simple businesses or initial proof of concept stages, freelancers great for mid-complexity firms, while consultancies suit larger ambitious ventures. Don’t hesitate to get advisor input or check writers’ portfolios to vet their experience and fit for your industry.
With outsourcing, it is still important to play an active role providing company knowledge while leveraging an expert planner’s strategic advice. Develop check-in procedures to review drafts and be fully aligned on messaging before presenting to stakeholders or investors. Make revisions as needed to craft your idealized story and demonstrate how your business deserves support.
A quality business plan sets the stage for your company’s potential and attracts the right partners to help you achieve success. By entrusting its creation to credentialed professionals, you gain peace of mind that it will represent your vision strategically while freeing up valuable time for other launch priorities. Taking steps to outsource your business plan development ensures you’re starting from a position of strength with a top-notch strategic roadmap.