Displaying items by tag: choice
 
Displaying items by tag: choice
Thursday, 01 December 2011 06:01

Business planning services: what to choose?

When you are going to hire a specialist in business planning or a consulting firm to have a business plan written for you, consider these tips:

It is not all about money

Do not think that the more expensive services are the higher quality business plans you'll have. Despite the fact that your company only starts working and there is almost always a financial deficit, do not try to save money on a business plan: the chances of your project to succeed will be much higher if your business plan is written by a competent expert.

If you do not know what a business plan should look like or what each part is aimed at, you need much more than a cheap writer can offer. In addition, a competent author knows that the amount of work required to write a business plan will depend largely on the research completed by an entrepreneur. And such an author will not tell you what the final price is if he has not found that out yet.

High-quality writing

Ask for previous business plan samples to evaluate the quality of writing, its form or its author. The sample should be clear, concise and there should be no typos, spelling mistakes or grammatical errors. The author must be able to provide you with certain parts of a business plan as an example. Of course, in this case names and confidential information must be edited. If a writer has created financial models as well, ask for samples and make sure everything is done correctly.

Previous success

It would be great, if a business planning expert or consultant could show you successful projects, a rich reference list and give you examples of successful projects they have written business plans for. It is important to see a series of successful business plans rather than just a few successful projects.

References

An expert or consultant must provide references from previous clients who would be happy to recommend him (or her) regardless of whether the business itself failed or succeeded. It often happens that a business failed to flourish though a business plan was perfect.

Cooperation

An author must have his own understanding of how cooperation works best. This should include becoming familiar with a client, doing research and study, then going through checkpoints, where projects are discussed and then accepted or rejected. Stay away from authors who are ready to take on any job. This shows that he does not take his job seriously and therefore the quality of his work is quite dubious.
Published in Research
Monday, 28 November 2011 07:06

Business plan template: what to choose?

If you are looking for an online template to write a business plan, then you are on the right track and you have so many products to choose from. On average, business plan templates are available for under $100, so you can use them to save dozens of hours of work at little expense. Here are some tips on choosing the right business plan template to buy.

Choose a company and then a template

Begin with experienced reputable companies. Look for a company that helps (financially) entrepreneurs to write successful business plans and has a decent reference list. Pay special attention to companies that has experienced business consultants with hundreds or thousands of clients in the past. Once you have found a company that meets these criteria, choose a template that is closest to your business. Do not worry if it is a little different. It will still serve you as a standard to adapt which is much more informative than a general template and is especially helpful if you write a business plan from scratch.

How to look for the right template

Look for a template that includes a financial model built with Excel, to be able to create and modify the financial statements easily. Also give priority to templates that include instructions or guidelines for their use. If something is not clear, ask the creators of the template to give you instructions on how to use it. Working with a template can be extremely difficult, if instructions are not available.
Published in Research