Tag: Business Plan Writer

Why Write a Business Plan?

This is a topic that inevitably comes up once an entrepreneur comes up with a new idea and already has a clear vision of what a company might look like to address this market need. The question is whether it makes sense to actually write a business plan if you already have a good understanding of what to do. If you have a strong understanding of the industry and a great idea for a new business, one might argue there is little benefit to write down what you already know in your head. And, if you plan on being self-funded, there is no investor audience you need to speak to … maybe your time would be better spent focusing on actually starting the business?

These are all important considerations, especially if you are very busy, so would have to incur a cost to hire a business plan writer to accomplish the task.

My response would be that there is a very important benefit you gain when going through the process of writing a business plan – it forces you to think about the critical details, any one of which might cause you considerable pain if left unaddressed. The critical benefit of writing a business plan is that it forces you to think about exactly how you will start your business, how you will position your value and segment your audience in your marketplace in a unique way that actually resonates well. In other words, by putting the words on paper and discussing your ideas with others, you can flush out your concept into an actual plan that can then be executed.

Let me give you an example. Let’s imagine that you want to start a party balloons business that provides decorative balloons for all sorts of events, both big and small. In your mind, you know balloons and the competition. You start in your garage and begin handing out flyers throughout your neighborhood. How do you know you have identified the best market segment to serve? How long have your competitors been in business, and what are their margins? How seasonal is your business? What is your five year profitability plan? Without a formal plan, you might not spend the time to think about these types of questions. And, if you don’t put these types of issues down on paper, how will you know if you are on track to achieve your objectives? These are the sorts of questions that might not readily come to mind unless you actually go through the process of writing a business plan.

And, if your competitor does go through this process and you don’t, then they might be in a better position for long term survival.

Only after taking the time to dig deep into what your business can become do you have any chance of actually growing it into something that can actually achieve and exceed your wildest dreams. Question such as what types of customers might you reasonably expect to draw? And, from an income and expense perspective, how sensitive are your suppliers and cost of goods sold? What happens if costs increase by ten percent? Will this make your profits disappear? If so, wouldn’t you want to know this fact before you started your business?

It is this “digging deep” philosophy that can make the difference between your business undergoing a slow and painful death, or to survive and thrive, based on the careful review you have already performed by holding yourself accountable by putting your plan in writing. It is amazing what commitment can be achieve when the process of simply putting something down in a printed or digital format. There is a sense of obligation once such a document has been prepared, which then becomes your roadmap for success. If you hire a writer to help guide you on this journey, you will hold yourself even more accountable to what is agreed upon in the plan. Funny how when you pay for something, the desire to get value out of it tends to increase dramatically!

Once you have achieved your initial stated objectives, it might then be time to seek outside funding. If you can present a plan that was already prepared from a year or two ago, and can then show that you have been following it (more or less), your story and “street creditability” with an outside investor will increase substantially, perhaps even getting to a point where it becomes the difference between securing initial Angel funding – or not.

If you are serious about starting a new business or expanding an existing business in a new direction, the minimal investment of time, resources and cost to sit down and write a plan on how you plan to proceed will offer you a tremendous return on investment, giving your business an important “jolt” of adrenalin that might make the difference between success and failure.

Gordon Benzie is a marketing adviser and business plan writer that specializes in preparing and executing upon business plans and marketing strategies.

The Importance of Editing

Having written many business plans, press releases, and other marketing collateral, one thing I have learned is the importance of an edit and review process. It doesn’t matter how good your writing skills are – no one can write anything great the first time.

It is easy to fall into the trap of thinking there isn’t the time or that it isn’t necessary for this particular communication. Or, maybe you were told the document only had to be a rough draft. Regardless, it is always a good habit to either hiring a third party to review your work or simply save your work and come back to it in 24 hours to have a look with fresh eyes. I am always amazed when I look back at my work from the prior day and reflect “What was I thinking?”

When we speak in a conversation, we typically don’t put much effort into editing what we say, so it is easy to think that writing is the same. But, if you think about it, when we have something important to say, then we will rehearse and practice it … just look at the industry of speechwriters that serve this need. We will edit and re-edit a speech many times before we are comfortable it gets the right message across. Writing is the same way.

Here are five benefits of following a good editing process, or having a good editor:

    1. Ensures your written message matches what you were trying to say
    2. Helps to condense and improve the efficiency of your writing
    3. Questions your flow of thoughts, ensuring there’s good logic
    4. Tells you if your content is too technical or if it doesn’t make sense, at least to the general public; it is very easy to “get into the weeds” about a topic you are very knowledgeable about
    5. Asks questions or presents an alternative perspective that you might not have considered; in the case of a blog, this feedback might be an excellent follow-up for a new post

The best person to edit your work might be someone that is not too close, so as to have the courage to tell you exactly how they feel, or what they didn’t like. A good editor might be someone that doesn’t even work at your company – or even in your industry – so as to focus purely on the content in your article, without the worry of political ramifications.

To be a good writer, one must write in a concise manner (see my prior post on taking the time to write shorter copy). A great way to achieve this objective is to work with an editor. It’s easy to fall into the trap of writing about a topic you are familiar with and forgetting to take into account that your audience may be just learning about this topic for the first time.

When Taking a Step Backward can Yield an Innovative Business Plan

Carbon-free Landscape RemovalI read a most interesting article today in the Wall Street Journal about a business start up in Chapel Hill, N.C. called Rent-a-Goat.com. What they offer is a completely environmentally friendly way for home and business owners to clear fields of unwanted shrubbery, grasses and any other prickly plants that need to be removed. What is remarkable is that this company has figured out a way to execute upon a business plan first launched thousands of years ago, and still make money today.

As I read further, I learned that Google has hired a similar company to clear their corporate campus of un-needed plants. Other end users include the Vanderbilt estate, where goats were hired for $9,000 to clear seven hilly acres, according to Dave Hayes, the estate’s natural-resource program manager. See the video. Apparently this price tag was two-thirds the cost to hire workers to do the same job … with a zero carbon footprint!

This story is an excellent example of how technological progress and innovation can sometimes take a “U” turn, especially when the social green movement is involved, despite the typical technology innovation cycle we so commonly see and write about (see my prior post on how technology innovation can be treated as a constant). Goes to show that there are no true constants in life, but some highly probably outcomes!

When seeking a business plan writer or preparing a strategic marketing plan, at times it can be helpful to take a completely opposite perspective with regards to what your new service or product should be. This strategy can be quite effective in markets and industries where a growing backlash is starting to gain momentum.

A good example of a business plan that has taken advantage of going “against the mainstream” is the latest offering from Knock Knock, a Los Angeles-based company that sells specialty paper products. They are now offering paper tweet pads, which limit you to a message of 140 characters that you can write down on a piece of paper. Their messaging in the product descriptions is quite good:  “Get on the social networking bandwagon with a cutting-edge notepad! The wireless miracle of pen and paper will have you expressing your mundane, or even pressing, thoughts anytime, anywhere!” In a way, they are making fun at all the notoriety and excitement around Twitter, and becoming just the opposite, pointing out that good old fashioned pen and paper is not a bad communications medium.

It turns out that maybe change is the only constant, rather than always counting on technology to drive innovation. Taking a step backward after several strides forward gives us a pause and time for reflection. People are always looking for something new and improved; the “new” maybe simply an old idea that has now gained new awareness and a fresh perspective.

Gordon Benzie is a marketing adviser and business plan writer that specializes in preparing and executing upon business plans and marketing strategies.

Applying Humor to Your Business Communications

“Computers are useless.  They can only give you answers.”

Pablo Picasso

When considering the question of “How do I improve my business communications?”, humor may be the answer. The decision should be based on what type of communications you seek. There are several roles humor can take … to grab attention, to make a lasting impression or to build a longer term relationship with your readers. Alternatively, a more serious and “professional” sounding message may be better suited to a more formal communications, in which case humor may not be appropriate.

Let me explain. It might not be the best idea to use humor when talking about a financial institution’s lending practices, or the way that a customer’s money is managed.

When we write or speak to an audience, often we are really trying to build a relationship with our audience in order to convey a thought, a message or a suggestion to purchase a product r service. As part of establishing that message and gaining credibility, it can be quite effective if you are communicating more as a friend or advisor. In that case, humor can definitely play a role in helping to build the relationship, earn trust and communicate on a more personal level.

South West Airlines (SWA) is an excellent example. They have effectively used humor in their verbal communications. Each flight attendant was clearly encouraged by their peers and supervisors to include humor as part of their pre-take off, FAA required announcements at the beginning of every flight.

In today’s YouTube age, there is another incentive: to become the next big hit.  Watch this video for an example of a video that has gone viral, with nearly 1 million hits so far. Interestingly, SWA’s practice began before the age of the Internet. Now these videos are actually a form of advertising, helping to increase brand awareness – and might even generate a ticket sale or two. Clearly, humor can lend itself to social networking marketing quite nicely.

While SWA’s topic is serious, the message has been effectively conveyed in a joyful, playful manner, with short one-liner jokes intermingled with information on what to do in an evacuation, and how the seat cushions also works as a life vest. In the end, passengers felt more relaxed and at ease, trusting that SWA had things under control in the passenger’s best interest while helping to pass the time during the boring announcements that business travelers all know by heart.

TD Ameritrade is an example of when a more serious communications was best. Their selection of Sam Waterston as a spokesperson conveys a serious message that TD Ameritrade is a secure institution you can trust, based on our associating him as being a District Attorney for Law and Order, even though it is just a character he plays on a television show. But don’t expect Sam to crack a joke during his endorsement during the ad.

Similarly, if you are writing a business plan to demonstrate intimate knowledge of your industry or market opportunity, it is trust that you are trying to build. As you might not have the opportunity to build a relationship over time with multiple interactions of your readers and prospective investors, you might only have one chance to make a first impression. In this case, your tone should probably be authoritative and professional, demonstrating you are serious about your business plan and the investment funds you are requesting. Probably not a good place for humor in your communications.

Each of these examples offers best-in-class leveraging of humor – or a lack of it – to accentuate and exemplify business communications. Deciding whether or not to use humor, however, is harder and riskier. Your message must indeed BE funny, or else the opposite effect will occur, possibly even alienating you from your target audience, and clearly hurting your communications objectives.  As it is more riskier to use humor, the choice is often to simply avoid it.

Next time you ask yourself whether humor might be appropriate in your next business communications, the answer won’t come from a computer.  It should be based on your subjective decision, half-based on theory and half-based on a gut feel if it really is appropriate.

Gordon Benzie is a marketing adviser and business plan writer that specializes in preparing and executing upon business plans and marketing strategies.