Although there are benefits to writing your own business plan, sometimes you need to rely on a business plan writing company to develop your business plan for you.
The problem is that there are hundreds of companies that specialize in writing business plans for small businesses. If you don't know what to look for, it can be difficult to separate legitimate business plan writing companies from the hacks and wannabes.
For guidance on how to choose a business plan writing company, we've assembled a list of attributes that can impact the quality of a business plan outsourcing firm. Along those lines, here are a few things to consider when hiring a business plan writing company:
- Longevity. One of the first things to look for in a business plan writing company is longevity. Business plan writing companies tend to come and go rather quickly, so when you find one that can prove they have been around for awhile there is a good chance they are doing something right.
- Good Fit. Like the companies they serve, every business plan writing company is different. You should expect to find differences process, methodology and business philosophy from one company to the next. But since you have so much riding on the outcome of your business plan, you should diligently look for a business plan writer who shares your business outlook and approaches the task of creating a business plan the same way you do.
- Industry Credentials. Probably the most important benefit associated with outsourcing your business plan is that you gain unbiased analysis. A good business plan writer will remove every trace of rosy optimism from your business plan and replace it with the kinds of solid numbers investors want to see. But be discerning – if your business writer has no experience in your industry, it may be difficult for him to fill your business plan with the substantive analysis it needs.
- Demonstrated Results. Capable business plan writing companies should have a long list of previous clients, the majority of whom were able to use their business plan as a launching pad for success. Testimonials are good, but references are even better because you can contact previous clients directly. If a business plan writing company is unable to provide references of past clients who are still in business – flags, bells and whistles should be going off.
- Price. Finally, it's important to remember that price is not necessarily an indication of quality in a business plan writing company. Instead of basing your decision exclusively on price, do your homework and find a business plan writing company that is truly able to meet your needs.