“Business plans are for you, to clear your head, and map your future.”
By Jose Bello, Senior Business Developer, glaction.com
Business plans are for you, not for them.
Business plans are not for investors or banks. Primarily business plans are for you, to clear your head, and map your future.
Do not get me wrong, business plans are essential to raise funds, but they are more than that. If they are done correctly, they will help you discover your challenges and unleash your potential and opportunities.
That is why a business plan writer is a coach and sounding-board, someone that helps you discover your business DNA and the market-fit of your idea.
Business plans enhance your confident and credibility.
Since, nowadays, banks are not leading to business “ideas,” the most plausible route to get funding is to go to family, friends and investors. But all of them have something in common: they will invest, not on your idea, but on you and your credibility to realize the idea.
A good business plan process will give you the confidence you need to pitch your idea and get funding. Solid market research will make you knowledgeable of the “space” in which you are entering. Sound financial numbers and a good understanding of your business model will challenge any doubts (good numbers do not lie). A crafted presentation will highlight the essentials of your vision.
All of these elements will give you the confidence that will enhance your credibility in front of your potential investors.
Software packages are not a process
Using business plan software, such as lifeplan.com and enloop.com can be a good starting point, but unfortunately they lack flexibility, and rarely produce the necessarily nuances that any good business idea require. Furthermore these software packages do not engage startup founders in the process of discovery, challenge and creation. A business advisor does.
Business Plans as a process are about business soul searching, research, discovery, financial stress tests, and corporate identity creation. A software package starts the process but does not end it.
Business Plans are important
Business plans are very important, but not for the reason people say they are. They are discovery tools. They are important because you need a plan, a guide, and a blue print… to create the next big thing. Then, if you feel confident and your ideas are clear, investment will follow and your business dream will become a reality.