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Based Business Idea
B
U S I N E S S P L A N W R I T E R:
 Every
business no matter how small should begin with a well-defined plan -
otherwise known as a "business plan". A business plan
writer is an expert in communicating the formal plan of a
business. Many times the excitement and haste of getting the
business going take precedence over this important step. It is up
to the business plan writer to educate the entrepreneur/small business
person on the methods of defining and uncovering some unforeseen bumps
in the road ahead. Until a business fully defines their business
both current and future goals they haven't spent the time realistically
understanding the business that they are in.
What
Does a Business Plan Writer Do?
You
will research and define the fine details of a business. The plan
will cover everything from the business description to financial
projections and long-term forecasting. You will help your client
develop their mission statement which is the guiding principle on which
their business is based. A business plan is required for securing
financial support from investors or a bank loan. The business plan
can help you define specifically who your product benefits, the
potential market and the competition. You will help the client by
setting up a concrete plan that even if modified can keep them on track
as they pursue success in their business.
Your
Unique Skills
A
business background/degree will help you gain credibility as an expert
in creating this valuable document. You should possess skills in
writing, research and understand the detailed requirements of a
professional business plan. Experience is key in duplicating the
process from one client to the next. Many of your clients will
hire you because they want your objective opinion and/or the skills you possess
having gone through this process before. You will provide insight
into their business that they are interested in understanding - even if
it's news they don't want to hear.
You
must be tactful! Remember they know their business the best you
are helping them to clarify their vision in a written document.
Tools
of the Trade
Many
professional business plan writers either create their own template or
use application software that has been developed so that you fill in the
blanks. You will also need to be aware of research tools that will
help you to define markets, including market share and penetration by
competitive companies. You will have to create the supporting
documentation including financial reports.
Getting
Your Foot in the Door
This
service business will be built on your reputation as a quality
provider. You should be professional in appearance and have the
credentials to back up any of your claims. Each plan you create
will be somewhat different but a client will hire you based on the
referrals of satisfied clients or just plain trust based on what you
say. Be competitively priced (based on your own analysis of the
market).
Be
advised - this is money that most small businesses do not want to
spend. They often want to create this plan themselves and they
don't see the value in paying someone else. However, the bottom
line is - most small business owners either don't make the time or have
the time to produce a professional business plan.
Favorite
Quote "Most Businesses Don't Plan to Fail - they Fail to
Plan".
Creative
Marketing Techniques
Just
like the quote above you have to get your clients thinking about
"needing" a plan. Of course you could sit in the lobby
of a bank and see who is taking out a small business loan and swarm in
but that may be a bit brash. But do think about what small
business owners are doing. They are buying business cards, they
are making copies, they are visiting office supply stores, they are
purchasing business equipment. They may be taking a class.
Promote your business where your customers are today.
Show
Me the Money
You
can charge by the plan or by the hour. For a professional plan a
small business is prepared to pay between $1,000 - $5,000.
Determine the amount of time you will need to complete the entire
process and charge accordingly. You will normally need to provide
a potential client with a proposal for a plan. You should also
have a mock plan ready to show them what they are getting. Some
plan writers make $20,000/year and others can make up to $100,000 - it
all depends on you and the market your in.
For
More Information:
Books
"Business Plans for Dummies" Paul Tiffany, and Steven
Peterson (IDG Books Worldwide, 1997).
Online
Resources
Business Plan Pro 2003
- business plan software available for business owners, managers
and business plan consultants.
Business Resource Software http://brs-inc.com
Power Business Plans: http://www.softkey.com
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