 |
 |
| |
Business Plan
Writer
Investors require them. Banks expect them. And business owners dread
them. A simple 35-page document can skyrocket a fledgling entrepreneur
into unparalleled success -- or send them scrambling.
What's this crucial document that savvy business owners can't do
without, but don't have time to write themselves? It's a business plan
-- and business plan-writing is a hot home business.
Ever drive in unfamiliar territory and get hopelessly lost? Business
plans are like maps that clearly define what a business does, who its
competition is and what its projected incomes are.
"The body of the business plan can be divided into four distinct
sections: the description of the business; the marketing plan; the
financial management plan and the management plan," according to the
Small Business Administration website.
Without a business plan, owners can easily lose their focus and
aimlessly flail around, losing valuable time and money. In fact, these
documents are necessary before bank financing, investor financing and
small business loans. No business plan -- no cash. Period.
Time-strapped business owners may not have the time (or the knowledge)
to research and create an airtight business plan -- and that's where a
freelance business plan writer grabs the reins.
Business plan writers are part marketing guru and part financial
wizard. After extensive interviews with the owners or officers of a
company, they compose a slick, marketable document any bank will go
gaga over -- and quickly cut a check.
Meet Your
Friendly Business Plan Writer
Believe it or not, business plan writers aren't ex-Harvard management
consultants. Nor are they $10,000-a-day lecturers. Successful business
plan writers come from all walks of life -- ex-business owners, CPAs,
management consultants and journalists -- and write plans full or part
time.
In fact, because business plan writers usually combine their skills
with other ventures, the National Writer's Union doesn't track how many
people are involved in the field.
Steve Crow is an example of a successful businessperson channeling his
skills into a plan-writing empire. Crow's business, A Better Business
Plan, in Illinois began as a favor -- and was eventually transformed
into a lucrative home profession.
"My business began when I had the opportunity to help a friend of a
friend develop a business plan for a business he hoped to start. The
experience was engaging, fun and stimulating." Crow did some initial
market research and realized writing for profit could be a lucrative
endeavor.
"[My] further research indicated that business plan writing was a good
potential business. Some months later, I was in business."
Crow's business didn't take off overnight. A 20-year veteran of the
business world, he realized it takes money to make money. Business plan
writers need a complete home office setup to work successfully -- and
that can set you back from $5,000 to $10,000.
"To start this business, a person would need a good computer, basic
software, laser printer, fax machine, copier, phone system, desk,
etc.," advises Crow. If this seems like a huge chunk of change, take
note -- you will be well compensated.
"Plans can range in price from $1,500 to $5,000. [My] total income
depends on how many plans can be sold in a given time," states Crow.
Crave a flexible schedule? Like many home-based business owners, Crow's
time is (almost) his own. "I start my workday by checking e-mail and
clearing any leftovers from the previous day. I may spend an hour or
two meeting with clients either in person or over the phone," says Crow.
"I may spend an hour or two in online research or research at my local
library. The rest of the day is spent writing and editing and
interacting with new potential clients," recounts Crow.
Sound easy as pie? Think again. Although Crow's schedule is flexible,
self-employed owners must occasionally pull late nights or weekend
duty. However, a satisfied client can make those long hours worthwhile.
"I delivered a finished plan to three young owners of a new business.
The three young men took the plan that same night and delivered it to
the person from whom they hoped to generate the start-up financing they
needed -- $150,000." His clients got financing and Crow collected his
fee. "It was one of my best days," recounts Crow.
Of course, writing a successful business plan takes passion and
perseverance. Have you ever worked on a boring research project and
turned in snore-friendly work that made your teacher drool? Successful
writers need to find something -- anything -- interesting about their
clients and immediately transform that into excitement.
"You must be excited about the industry you're writing about. When I
take on a job, I get inside the person's head and get really excited
for them," explains Karen McCoy, business plan writer.
McCoy, a full-time journalism student and part-time business plan
writer, believes excitement sells -- and gets results. Although anyone
can purchase business plan software, there's a big difference between a
canned business plan and one that grabs investors and screams, "Finance
me now!"
"I like to wow them up front and make it creative, not dry. I build a
picture, as if you were the customer and what you would see, hear, feel
and experience walking into the establishment," says McCoy. "The first
rule of good writing is to show them, not tell them."
There is one difficulty. While business plan writers are "showing, not
telling," future business prospects are yelling, "Show me the money!"
With online templates, easy-to-use programs and a multitude of books,
hiring a business plan writer may seem expensive.
"I charge $30 to $40 an hour, or $200 to $250 a day. Many people do
their own [business plans] because they don't want to spend the money,"
admits McCoy. However, time-strapped executives who require large
start-up costs are strong prospects; $1,500 for a business plan is
nothing if it can net $1,000,000 in seed money.
What's the future of business plan writing? Check it out online.
Business plan writers can network around the world, meaning geography
is no longer an issue. You can write a plan for a U.K. business and
chat with your client down the street -- all without leaving your home.
So, sharpen your pencils and brush up on your financial terminology.
Business plan writing may be "write" up your alley.
 |
Net
Sites
|
Bplans.com
Sample business plans and helpful information
http://www.bplans.com
What's Hot: Business
Plans
Internet and print business plan resources
http://www.inc.com/incmagazine/archives/01990831.html
The Business Plan --
Road Map to Success
Comprehensive business planner, compliments of the Small Business
Association
http://www.sba.gov/starting/indexbusplans.html
|
|
|
|
|
|
|
Home |
Tell
Us What You
Think |
About Us |
Tell A Friend
