Whats The Plan

What's the Plan?


Ten years ago when my spouse's small business was seeking a loan to buy some property, I was enlisted to write a business plan. I didn't know what a business plan was, but I could put sentences together in a cohesive fashion. Armed with decent writing skills and a checklist provided by a banker friend, I was off and writing.

Any person strong-armed into writing a business plan today (and even someone who does it willingly) has no excuse to fly blind the way I did. One search on the web and you'll find literally thousands of sites offering help. But even with an overabundance of assistance, many, many companies would still rather hire a professional than try to learn the ins and outs of writing a business plan. Here is where a person with decent writing skills, knowledge of business finance, and understanding of professionalism can really turn a profit.

Don't let lack of experience in this field stop you. With all of the good quality software programs available, you should be able to learn your trade in no time. You will also need to learn to read financial statements in order to gather necessary information. This too, is not terribly difficult to learn.

Professionalism will take you far in this business. It is important to sound knowledgeable on the phone and to dress professionally when meeting clients in person. Above all, deliver a quality product on time and free of errors. This will require up-to-date computer equipment including a laser printer, fax machine, word processing software, accounting program and possibly graphics or desktop publishing software if you plan to create your own marketing materials.

Market your business by obtaining referrals from banks, accountants or entrepreneurship centers. Advertise in local business newsletters. You might even want to hook up with a grant writer who loves to write the grant proposals, but hates compiling the business plan section. (Most in-depth grants require a business plan.) Writing business plans can be quite profitable as long as you market yourself while you're working on the current project.

The hardest part is getting started. Begin the way I did, by writing a plan for your own business. Doing so will benefit you the same way it does your clients. It will outline the goals, objectives, finances and time line for launching your new enterprise. It will also prepare you for applying for any financial assistance you may need. (Although start-up costs are actually pretty low, especially if you already have good quality computer and office equipment.)

Lucky for you, there is more than enough information out there to get you started on this highly profitable business, and there are more than enough potential clients, as well. You could be well on your way to financial and professional success. It all just starts with a plan.

Resources:

http://www.businessplanpro.com

http://www.sba.gov/smallbusinessplanner/index.html

http://www.planware.org/businessplan.htm