Questions to Ask a Business Plan Writer

Photo courtesy of Dina Kaplan @ Flickr

Writing a business plan for the first time can be such a hard experience. You might have a great business idea but have no idea on how to put it on paper by draft. A business plan hence a professional business plan writer becomes essential. All the time, great business ideas need to be backed up by excellent communication and writing skills so as to be understood and strategically communicate your idea to the target audience. therefore, you need a business plan writer to write for you or advise you on how to write for yourself. There are certain essential issues that your business plan should take care of.

Certain questions are therefore essential to ask a business plan writer in order to come up with the best plan.
   
1) How do I determine my target market for the business?
     
This is the first question that you should ask. The type of market is really important. Market means your potential customers or consumers. The size of the market is a very essential consideration. It helps to know the profit potential of your business. For example if you intend to sell any product, you should consider how big the business will be and what type of customers are you targeting. More so, you should ask yourself how you are going to retain customers.
     
2) Who are my key competitors in this industry?
     
Competition is obvious in any business. A good business person is he who accepts and deals with competition. There are some competitors who are direct and others are indirect competitors. You need to establish who your competitors are so that you can know how to up your business. Consider what will keep your business competitive advantage over other players that wish to venture in the same or similar goods.
      
3) Who should be key players in this business?
     
It is important to know the key players in the business that is the managers, board of directors and advisers to the business etc. multiple roles should be assigned and staffed with the right people in order to enable the business to grow. The manager especially should be an expert in managerial sectors or else the business will not go far. The marketing director is another important player since for a new business he/she is the one to reach consumers and advertise the business.
     
4) What will be my best marketing and promotional strategies?
     
You have to look for a strategy of reaching your customers and advertise your business. Consider whether you will use the media that is radio, television or social networks.

5) How much starting capital do I need?
     
For one to start a business, capital is important. You should determine the amount of capital that you need for your business to stand today and for it to grow at a high rate. In cases of outside funding, consider what sources you will get the funds from and how you will manage those funds so as to yield benefits. In case of taking a business loan, consider the right place for doing so and also come up with repaying mechanisms to avoid falling into bankruptcy issues.

6) Is the business idea realistic?
     
The goals of the business should be realistic and not just something, that is impossible to achieve. Even though the business idea need not be reasonable, a business plan must be. An unrealistic business plan is usually over ambitious and the end result is dismal.
   
7) What exit plan do I take for my business?
     
In case of a personal exit plan, you should be honest to investors. If for example you intend to retire at some point, let them know as the saying by Steranka goes “While transparency up-front could turn away a potential investor, it’s going to attract the right investor.” So attract the right investor and help your business compete favourably in the market.
     
8) Is my mission achievable ?
     
The mission of your business should stand unique so that you can compete favourably with your competitors. Ask yourself if your plan tends to meet an unmet need in the market. You can try sending samples of what you intend to sell to potential customers and get their opinions before making your final decision. This will help you meet the needs of the consumers. 

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