This will not be the easiest site you have ever read. It is not about an easy subject.

Nowhere here will you find any statement to the effect that creative thinking — the active use of imagination — is an easy task.

Creative Executive...

Nor will you find any secret formulas or magic phrases that can produce million-dollar ideas for you.

In fact, if the writer occasionally makes a categorical statement that appears to be the answer, it was not intended that way. By its nature, creativity is infinite — there is always a better way and always a worse way.

Therefore, there are no real answers.

There are preferred ways, and apparently better ways. But not answers.

This was planned to do several things:

To help you develop an increased sensitivity to problems, needs, and opportunities in business.

To build your knowledge of problem-solving procedures, and the aids to thinking more creatively.

By removing some of the "mystery" that has always clouded the subject of creativity, to help you to gain self-confidence in applying principles and using techniques that have helped others.

To explain some of the background that is necessary to create the kind of "climate" that will encourage more creative kinds of thinking on the part of associates and subordinates.

Howard Schwartz is a partner in several business strategy groups, including HJ Ventures International, Inc. Howard has worked with hundreds of entrepreneurs worldwide with a focus on writing business plans for companies interested in raising capital from
1978

Every new business owner
knows that a business plan is critical – it is drilled into them by potential
investors and every banking officer they meet. So why is something that is so
important to the launch of a new venture so difficult to write? Good question!
In this article I will try to address when you should go out and hire a business
plan writer versus taking on the task yourself. First time entrepreneurs often
cringe when sitting down to write their business plan. Some spend 6 months agonizing
over each period and comma, and even worse others spend 6 months procrastinating
and do nothing. So lets break it down and see where / when a business planning
company should be brought in

Who will read
your business plan and why?



First you need to really understand the purpose of your business plan and who
your audience (reader) will be. This is an important point as a business plan
being written for a $100,000 loan is VERY different than a document needed for
a $10 million round of venture capital! Since this article is focused on first-time
small business owners, I will focus on preparing business plans raising less
then $1 million in capital. For this “startup” or “seed”
business plan 30-35 pages are perfect. You are not expected to deliver a thick
book (and no one will read it anyway!). Once you have this down, you can honestly
assess which sections you are qualified / comfortable writing and which may
need consulting help

Here
is what you should write on your own

It is important for you to write a basic draft
/ outline of your business plan. Without this direction you are probably asking
too much of your consultant. Once you have your thoughts organized on paper
you can see what you are comfortable completing. Here are a few suggestions:

Executive Summary: Draft the opening of your business plan –
then hire a pro to come in and re-write it. Your executive summary will be read
first and first impressions are critical!

Marketing: You need to write your own definition of your target
customer / audience. For the market research on industry growth and fancy charts
go ahead and hire a consultant.

Competitive Analysis: You
should put together the first draft of this section, as it is almost as important
to understand your competitors, as it is your customers. If you find a consultant
that is an expert in your field, then you can work together and add to your
initial list.

The Dreaded Financials

This is the most difficult
part of a startup business plan, as you are making projections and assumptions
on products / services that you have not even produced or sold yet! If you are
stuck on this section you can hire a business plan consultant to just assist
you with completing your projections (income statement, cash flow, and balance
sheet). Figuring out the cost of goods, delivery costs, and return rates can
be simplified by breaking them down into a “light” spreadsheet.
Next you need to understand your startup and operating costs – items like
electricity, travel, phone expenses, etc. Again just organize these and your
consultant can make all the fancy charts and graphs. Just make sure you understand
all of the assumptions – for example if you are opening a retail business,
you should not look towards your consultant to “guess” your rent
– go out and meet with a realtor and come back with real data. If you
work closely with your consultant, the financials are a great section to bring
in professional help.

Managing Expectations

Now that you know a bit
more about when to hire a business plan writer you also need to manage your
expectations. You can't expect a $1,000 business plan to have 20 pages
of competitive analysis and a full-blown marketing strategy! If you carefully
work through which sections of your business plan need outside help and then
manage your consultant closely, your final document will be a success! My next
two articles will focus on “How to Find / Hire a Business Plan Consultant”
and more importantly “When to Fire your Business Plan Consultant!”

About the Author

Howard Schwartz is a partner in several business strategy groups, including HJ Ventures International, Inc. Howard has worked with hundreds of entrepreneurs worldwide with a focus on writing business plans for companies interested in raising capital from Venture Funds and Angel Investors. Howard's business plans have secured several million dollars in funding.

For more information: http://www.hjventures.com

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