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If you need a custom business plan service for a business plan to raise funds or sell internally, here are the top three red flags you need to be aware of.
Many business plan services display sample business plans on their websites to demonstrate their end product. In reality, they are demonstrating a fundamental lack of business acumen and disrespect for their clientele.
By publishing samples, they are enabling low end competitors to flood the market with business plans copied from originals. When strategies, market research, and format are readily available, the competitive advantage for the original client and prospective clients is squandered.
Instead, a premier business plan writing service safeguards their clientele and never releases business plans to acquire new business. As durable competitive advantages are critical to business success, confidentiality extends beyond obtaining funding and the life of the initial project. The most successful business plans are based on proprietary methodologies that ensure a durable competitive advantage. These methodologies are trade secrets and only deployed for actual clients.
Many writing services advertise MBA-educated business writers at unrealistically low prices. In order for this to be true, one or more of the following also has to be true.
1. The MBA’s are recent graduates from third tier schools with little or no business experience
2. The MBA’s are located in a third world country and lack first world insights
3. Inexperienced MBA’s are copying and pasting your information into cookie cutter software which you could do better yourself
4. The company is practicing “bait and switch” and admin staff are actually operating the software
Logically, top flight senior executives with MBA’s are expensive and well worth it. Their deep, relevant experience enables you to avoid costly trial and error and gives you the best chance for success.
Many business plan services assign just one person to create a plan. The weaknesses of this approach should be obvious. Insights, strategies, industry experience, and accuracy are compromised because the plan is limited to a single individual’s mental bandwidth.
A premier business plan service deploys three senior executives with relevant industry experience to create each and every business plan. The resulting cross pollination of their interaction has been proven to address unforeseen obstacles and produce the most successful plans.
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You can avoid these red flags and ensure that you receive the best possible custom business plan.
For the past 28 years, our company has averaged a 90% success rate on investment plans for our clients in almost every industry. Our senior executive team only write business plans when we believe that there is an excellent probability for success. Because of this level of scrutiny, we are able to help clients to best launch new businesses, expand existing businesses, and raise hundreds of millions of dollars to support business ventures.
8 Responses to “Custom Business Plan Services: The Top 3 Red Flags”
You have made some excellent points here about how to secure the competitive advantage for your clients. I would love your business plan team to produce our annual business plan.
This article helped me to avoid going in the wrong direction with business plan software. I appreciate your logic.
I agree with these red flags , especially red flag 2. Why waste time and money getting a bargain basement help that don’t have real work life experience or value. A well thought out business plan is crucial for success and usually takes at least 200 hours. It’s unlikely that an inexperienced team can produce a successful business plan.
Eye opening. Thanks a lot.
I would add another red flag. When a business writing service refuses to put things in writing, that’s a sign that trouble is coming.
You have raised important issues that I had not given prior consideration. I now see the difference between the low end, low result business plan writing firms and legitimate business plan consultancies. The low end firms are not worth time or effort.
Excellent advice. Guarding intellectual property maintains the competitive edge for clients. Very important to ensure the success of a business plan. Your three red flags are wisely thought out. Well done.
Thanks for sharing this. It makes a lot of sense. I knew the numbers didn’t work when I was given low quotes from several internet based companies. They must be using templates or students because experienced people would not do the work for next to nothing.
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