Hiring a Professional Business Plan Author: The Ultimate Guide

The business plan is the cornerstone of every business idea and is presented to banks, investors, or employment agencies. Many entrepreneurs want to make the best possible impression and hire professional business plan authors. We show you how a compelling business plan is structured and how we can support you in this process.

If you’d rather not put together your business plan and numbers alone, we support you in Strategy Consulting.

Why should you hire a professional business plan author?

A business plan is the essential document that summarizes the operational and financial objectives of a company. As a strategic roadmap, it presents the anticipated business development in figures and shows how achieving these goals will be financed.

For the same reason you would consult doctors, lawyers, or auditors, expertise is also needed when creating a business plan: the professional knowledge and experience of experienced business plan authors. Often, there is only one chance to convince investors. Therefore, it’s important to use experts’ knowledge to set the right course for long-term success.

Another critical point is the lack of time. Many people have the skills and expertise to create an effective business plan. However, creating a business and financial plan can take several hundred working hours. This time could be invested much more efficiently in further developing the business, such as customer acquisition.

Since the business plan must be tailored in form and content to the target audience—whether investors, banks, or employment agencies—the expertise of business plan authors is often essential.

Finally, the business concept is analyzed and presented from an external and neutral perspective. This ensures that banks and investors can understand the business plan.

The business plan: the foundation for financing

A professional and well-thought-out business plan significantly increases the chances of securing financing. For banks and investors, the business plan is—alongside professional competence—the essential decision-making criterion. It must clearly and precisely explain the “why” and significance of the idea. Furthermore, the business plan must describe the business idea, product and service portfolio, and marketing concept in detail.

The business plan consolidates all relevant key figures, such as capital requirements and unique selling points. Thus, the business plan fulfills the critical advisory function for investors and banks to approve financing or engage in initial discussions.

What to look for when hiring professional business plan authors

There are many business plan authors. But especially in the digital age, choosing reliable service providers is increasingly difficult. False reviews and hidden costs are just the tip of the iceberg. Therefore, you should pay attention to the following points when making your selection:

• A free initial consultation. Important questions are clarified here, and you can assess whether the service is suitable for you personally.
• The offer of a free business plan review. Based on the comments and improvement suggestions, you get a better sense of the competence and knowledge of the potential service provider.
• Certifications and listings for funding such as BAFA consulting subsidies. Depending on location, it covers 50 or 80% of eligible consulting costs and gives you the assurance that a government agency has approved the company.
• Network and further expertise. Since the business plan is only the beginning of the project, an extensive network of experts is essential to avoid mistakes. This includes, for example, reliable tax consultants and notaries. Furthermore, it can be advantageous if the service provider also offers related services such as customer acquisition, as this makes the assumptions in the business plan much more precise.
• Current references and Google reviews. Unlike review portals like Provenexpert, Google reviews are difficult to fake and provide a reliable impression of customer satisfaction. Current case studies on the website with detailed descriptions offer insight into the company’s work and success.
• Online presence. A clear, well-structured website should be one of the most important selection criteria for service providers. How can a company create a professional business plan if its online presence is outdated and unattractive?

Typical errors when creating a business plan

Most “poor” business plans have one or more of the following problems, which can be avoided by hiring professional business plan authors:

1. Unrealistic financial forecasts

Most entrepreneurs are familiar with startups in the TV show “Shark Tank” that grossly overestimate a company’s value and leave the show without a deal. This is one of the most common errors in business plans. Banks and investors expect a realistic picture of where your company currently stands and what direction it will take in the coming months. If the plan is too optimistic and the forecasts are not explained, the business plan will likely be rejected.

2. Using business plan templates

Templates provide general guidance on what information is needed and how to organize it. However, these are often only the basics and cannot be universally applied to every business. There is still much expertise, individual wording, and work required to create a business plan that is suitable for banks and investors.

Furthermore, sufficient industry knowledge is necessary to apply financial models to your specific business and create them accurately. The calculations must be meaningful and make the company’s prospects for success apparent at a glance.

3. No definition of target audience

No company appeals to everyone. Therefore, you must define your specific target market, explain how you arrived at these assumptions, and outline how you will reach this market.

Small businesses often segment their customers by gender or age. A retail company for women’s clothing, for example, directs its marketing efforts toward women. Conversely, a men’s big and tall shop directs its marketing efforts toward large and heavy men. Other elements such as income level, lifestyle, and purchasing cycles can further define the target audience.

4. One author, one reader

Be sure to have several people review your business plan before submitting it. This ensures that it is understandable from a neutral perspective and that the layout and structure make sense.

5. Knowledge of financing options

Knowledge of various financing options, subsidies, and the requirements for applying for them is essential. Otherwise, the business plan can make a poor impression or be rejected due to incorrect financial calculations. Therefore, you should address this topic before asking “How do I create a business plan” and bring experts with a proven track record on board.

Other typical errors when creating a business plan without hiring professional business plan authors:

• Insufficient analysis of competitors
• Concealing your own weaknesses and opportunities to address these challenges
• Too much information and excessive length of the business plan
• Inconsistent descriptions and wording
• Insufficient market research
• Use of superlatives

7 success factors for a professional business plan

As already described, banks and investors expect a precise, structured, and easy-to-understand business plan. The following seven tips have proven essential when applying for funding:

1. Use a clear, easy-to-follow structure so readers can navigate easily.
2. Use a standard format and fonts such as Arial in font size 10. Creativity can certainly flow in the marketing and operations sections, but the plan should not have a distracting form or structure.
3. Before putting the business plan on paper, you must clear all possible obstacles through extensive research.
4. The financial assumptions that determine the revenues and costs of the financial plan must be explained in detail in the plan.
5. Show a clear market opportunity. This requires both a description of the customers who need your product or service and the competitors against whom you can build a competitive advantage.
6. The business case is specific. The investment firm or bank must be able to track results based on the plan. Every business plan should include tasks, deadlines, dates, forecasts, budgets, and metrics to make it measurable for investors.
7. Responsibilities must be clearly defined. People must be designated who are responsible for each critical task and function.

Hiring professional business plan authors—the optimal approach

As a growth consultancy, we create bank-ready business plans at fixed prices at nxt milestone. From the many business plans we have written, we know what banks and funding bodies look for.

Our complete solution includes:

• Free initial consultation
• Free and non-binding review of your existing business plan (draft)
• Refinement of the business model, including unique selling point
• Creation of the written part of the business plan (approximately 30-50 pages)
• Creation of the financial plan and calculations
• Completion within 1-2 weeks
• Feedback discussion and incorporation of your notes
• Advice on suitable funding programmes

How much does it cost to hire professional business plan authors?

The costs for writing a professional business plan start at €1,500 and can quickly become expensive for larger projects. The final price is determined by factors such as the target audience of the business plan, the business idea, the scope, and the level of detail of the financial planning.

In any case, check whether a funding programme covers some or all of the cost of having the plan created externally. For more information about the various funding options and business plan creation, we are happy to help.

Book your free initial consultation now.