How to Write a Business Plan for Startup Companies
Ideas are some of the things that anyone, anywhere can have — no matter how large or small their presence is. A great idea, however, is something that can be marketable and benefits you or others around you.
There are many business plan writers for hire who can complete this task for your startup company, but drafting one yourself is a different ballgame.
As someone who always thought that I'm ready to launch a startup company without calculating the risks, I know the key to success in this game.
If you're confident about an idea and you feel that you can hit the market – that’s great news, but before you get into the operational mode, a little paperwork can help your organization stay in a single direction while simultaneously keeping you focused.
Things to Include in Your Business Plan
A modern and successful business plan for startup companies comprises the following steps:
- Executive summary
- Company description such as mission, vision, and objectives
- Market research and competitor's analysis
- Product or services description
- Company structure
- Team management plan
- Operational structure
- Strategies for sales and marketing of products or services
- Financial outlook of the company including prospective expenses
Formatting of Your Business Plan
A recent study suggests that companies with formal business plans are 16 percent more likely to get successful than the companies that don't have a roadmap of things and are missing the alignment of their planning.
Furthermore, writing a formal business plan gives an edge over the competition and provides you with better opportunities to raise capital for your new business venture. As you might expect, if you hit the market without a formal plan, banks and investors are not going to consider you and would not give you a dollar until or unless you gain their trust with everything on paper.
I've already shared the elements that should be part of your formal planning in the above section. We're going to talk about how using these elements you can create and present a plan.
If you've sorted everything out, make sure that your plan is in standard, various, and presentable format. Let me explain how.
It doesn't matter if you're doing everything on a word document, you need to use a PDF format for keeping records and sending someone as an official entity.
On the other hand, if you're going to present the plan in a meeting, make sure to use the presentation mode of your plan. Don't overcrowd the presentation with too much information, keep it light, understandable, and simple.
If anyone asks for further details, you can send them the elaborated version via doc file or PDF format.
Where to Find Business Plan Writers For Hire
Although my above-mentioned tips will help you kickstart your plan in no time, if you don't have such time on your hand, you can start looking for business plan writers that are willing to work for you.
It is still advised that you should study each element even though someone else is doing the task for you. Nobody knows your organizational goals more than you do, so you need to be equally invested with the person who's drafting your plan.
A business roadmap is a great opportunity for the founders to understand their vision deeply. It helps them solve the confusion and find the answers to questions they didn't know exist.
I understand that it's challenging to know everything about your startup but the company roadmap and summary force you to have a clear set of objectives.