Can Someone Write a Business Plan for Me? Outsourcing Your Business Planning
Writing a business plan can seem like a daunting task, especially if you’re not experienced in long-form written projects or don’t feel confident in your ability to layout all the key details of starting a new venture. The good news is that it is possible to outsource the writing of your business plan to a third-party expert. While you’ll still need to do some legwork in providing information and reviewing drafts, hiring a professional business plan writer can make the process much less stressful.
In this article, we will explore the pros and cons of outsourcing your business plan, how to find a qualified writer, what to expect from the process, and tips for making the most of working with a third party on such an important foundational document for your business.
Why Outsource Your Business Plan Writing?
There are several compelling reasons why an entrepreneur may choose to have someone else write their initial business plan:
Time constraints – Developing a high-quality plan from scratch requires extensive research, analysis, and writing. If you’re already wearing many hats as a startup founder, outsourcing can free up precious time to focus on other priority tasks.
Expertise – Professional business plan consultants have extensive experience analyzing industries, financial projections, operations strategies, and more to translate your business vision into a comprehensive yet concise written document. They understand what investors/lenders expect to see.
Objectivity – As the founder, it can be difficult to step back and evaluate your business concept with a critical yet constructive eye. An outsider brings neutral perspective to identify weaknesses or assumptions that may need reworking.
Formatting assistance – Complex financial models, elegant designs, customized templates – professional writers know how to craft professional-looking plans tailored for different audiences like investors, banks, or business plan competitions.
Editing & revisions – Developing multiple drafts with thorough feedback cycles helps strengthen the final product, which a third party can manage more efficiently than a time-crunched entrepreneur working alone.
Of course, outsourcing does come at a cost in professional fees that needs to be considered. It also means relinquishing some control over the final document and core messaging about your venture. But for many entrepreneurs, the benefits outweigh doing it entirely solo.
Finding a Qualified Business Plan Writer
There are several reputable sources for hiring someone experienced in writing customized business plans:
Online directories – Sites like 99freelance or Upwork allow searching profiles of independent consultants across various services. Check client reviews.
Small business associations – Your local SBA, chamber of commerce or entrepreneur support organizations may have pro bono or affordable options.
Colleges/universities – Many offer small business counseling centers with MBA students or graduates available for client projects. Could be more affordable.
Independent consultants – Search online for freelancers specializing in plans for your industry. Make sure to verify credentials and previous experience.
When evaluating candidates, consider qualifications like relevant educational background and industry experience, sample plans in your field to review, references from past clients, proven track record of helping startups secure funding etc. Check certification credentials as well to ensure quality results.
It’s also wise to ask upfront about pricing structures – whether fixed fee, hourly rate, or contingency-based on funding outcome. Clarify scope of work and timeline for multiple drafts/feedback loops. Have a contract outlining deliverables, confidentiality terms, and payment schedules.
What to Provide the Writer
To write a tailored plan reflective of your unique business vision requires some legwork on your part collecting key details:
Company description/mission – Concise overview of the problem being solved and solution you provide.
Industry research/competitive analysis – Market size/trends, target customers, top competitors and differentiators.
Management team bios – Relevant experience, qualifications, Co-founders’ respective roles.
Product/service descriptions – Features, benefits, intellectual property status.
Operations plan – Key activities, milestones, resources/infrastructure required.
Marketing/sales strategies – Target segments, channels, promotion tactics and costs.
5-year financial projections – Forecasted income statements, cash flows, balance sheets with rationale.
Funding requirements – Amount needed, use of funds, exit/valuation strategies.
The more comprehensive the information provided upfront, the better equipped the writer will be to craft comprehensive, realistic sections aligned to your business concept. Be available also to answer follow up questions as the draft evolves.
What to Expect From the Process
A professional business plan writing project typically follows these general stages:
Initial consultation – Discuss goals, scope expectations, deadlines for back-and-forth.
Research/information gathering – The writer drills into details provided via calls/meetings to thoroughly understand the opportunity.
First draft – Sections are written based on research/structure discussed. Sent to founder for review.
Feedback cycle – You provide comments/edits for incorporation into subsequent version.
Second draft – Refinements are made reflecting your feedback for another pass.
Finalization – Any other minor tweaks discussed before document completion.
Formatting/design – Plan is formatted cleanly in an appropriate template/style.
Delivery – Finalized business plan files are handed off along with guidance for deployment.
Allow several weeks minimum for this process, especially if multiple feedback rounds are needed. Be as available as possible during drafting rounds for timely discussions. Prompt, thoughtful feedback is crucial for the writer to effectively iterate drafts.
Maximizing the Outcome
To get the full value of outsourcing your business planning:
Do your homework providing complete, accurate information up front
Clearly establish objectives, scope and expectations from the start
Make yourself accessible to the writer for questions/quick feedback
Thoroughly review/comment on drafts in timely manner
Discuss with an open yet critical mindset seeking impartial perspective
Provide context/rationale for edits/changes rather than just noting typos
Express appreciation for the writer’s time, insights and collaborative spirit
Stay in touch after delivery in case any further questions arise
Evaluate the final plan critically before deploying to ensure quality
With diligent preparation and communication on both sides, outsourcing your business plan drafting allows leveraging professional expertise while still maintaining close involvement. The result should be a robust foundation and compelling narrative to support moving your venture forward towards success.
Andrew Stroud