If you are a business plan writer, the business sector wants to meet you. The requests for business plan writers have become exponential in recent years and qualified business plan writers have not been able to keep up with demand. Why has a “business plan” become essential for companies in the startup or growth stage? The primary answer is one of available funding for entry into almost every market. Today’s investors and lenders are eager to capture a return on investment or a percentage of a new company by providing an infusion of cash. A business plan serves as the calling card to an interested investor or lender; as such, it is invaluable.
If you want to become a freelance business writer or start a business specializing in writing business plans, you’ll want to first examine the options and legal entities for both possible positions. As a freelance business writer, you’ll work alone and all funds received from your clients can be combined with personal income and expenses. While a simple structure, such as this, is an easy decision, the drawbacks include limited tax write-off options and, more importantly, liability issues will fall on you personally rather than a corporation you’ve instituted.
Choosing an S, C, or Limited Liability Corporation (LLC) allows you to remove yourself and your personal assets from anything that may cause liability as a result of the company. Choosing to establish a corporation also offers multiple, highly-advantageous tax write-offs that can assist in offsetting the taxation of your corporate income. This decision should be made prior to starting your business, simply because form follows function in this business.
In addition to forming a company, what are the essential secrets of becoming a business plan writer? Let’s take a look:
First, you’ll want to make a personal assessment of the skillset you possess. Are you knowledgeable regarding several industries or is your background knowledge centered on a particular industry? When soliciting or responding to inquiries, you’ll need the ability to sift through those industries in which you already know you have capabilities to extend and those you don’t.
If you are starting a business plan writing company, there are some initial steps to take that will set the foundation of your company into place. For example, you’ll want to form the business plan writer company into a cohesive five-year collective of information, including various elements, such as a financial plan and forecast, marketing strategies, your company mission and goals, and other important perspectives.
Another secret of becoming a successful business plan writer is to learn how to adapt
a “basic template” plan into a specific communication, offering the scope and sequence of a business in the making. As a business plan writer, you’ll want to be specific to the industry and the business itself when referring to terminology, tech references, and other protocols and practices found within both. Your background knowledge will enable you to offer superior service to clients, driving additional traffic to your company.
The executive summary, more than any other portion of a business plan, will be used by investors or lenders to learn about the business. As such, a highly effective summary is another secret to success as a business plan writer. The summary should be presented in a specific, polished and professional manner, while an additional secret is found in adding a humorous anecdote about the founder in the business, as well. This addition will form a miniscule attachment to the potential investor or lender.
An important secret to success in the company overview section of the business plan will be the inclusion of the history of the owner(s) and the progression of their business concepts to fruition. Often, the compelling part of the story isn’t the product or service offered; it is the backstory of the company founders. Research, ask questions, and communicate the personal message of the owners.
You’ll want to capture the secret of success in writing the marketing strategies in the plan. Marketing plans are essential; however, they can seem common when investors have viewed several plans that carry the same strategies. Focus on the intent and ability of the strategies to capture potential customers, which will create a vivid story. Make the marketing strategies shine.
Finally, the remaining portions of a business plan assess operations, discuss staff members and capture the financial plan. The secret to your success in these elements will be in clear communication that resonates with interested readers.
Each of these secrets can add success to your role as a business plan writer. Learn to extend your writing into specifics that will capture readers and inform forecasts and future plans. Consider building a company around your writing because, without a doubt, the opportunities to create business plans will continue to expand.
