4 Questions to Vet a Potential Business Plan Writer
Date: 01/26/16 By: PlanIt Business Team
Hiring the best business plan writer can be the difference between impressing an investor that has the financial power to get your dream off the ground and failing to get funded. That’s why it’s so crucial to discover which provider will most likely deliver the plan and the results you’re looking for and avoid common mistakes.
But what’s not as obvious is how to go about this process. One way to start is by interviewing them like you would anyone else you’re considering hiring for a job. Asking the following questions will quickly uncover information that’s most relevant for your decision whether they’re a freelance individual or a value added customized business plan writing service.
1. Do You Have Any Experience Starting, Running, or Investing In A Business?
It might seem like this is a clear “yes” no matter who might be writing your plan, but dig deeper into their experience. Discover whether they’ve ever been an angel investor, venture capitalist, investment banker, executive, or an entrepreneur searching for funding themselves. Find out how that perspective comes through in their work.
A writer with a relevant background will be much more equipped to help you meet your business plan goals because they’ll know what people and institutions that can offer funding are looking for in a quality plan and they will be sure to include just the right information in just the right ways that gets you noticed.
2. Tell Me About Your Process
You need to know what information they gather, how they gather it, and most importantly, how it will all come together in a written document. The main point of this question is to find out whether the candidate or company will simply fill in the blanks of a template with your information and call it a day.
If you’re paying a qualified provider to write a business plan, it needs to include all the nuance and specifications that will accurately portray your business idea in its best light. A cut-and-paste template will not achieve that or get you funded.
3. What Are Your Credentials?
Someone that you’re trusting to write a winning business plan should have the right credentials for the job. Ask about their educational background. Do they have a business degree? MBA? CFA, CPA, or FINRA? Having these types of credentials equips the writer or staff members in a business plan writing company to speak from a place of expertise to investors, banks, and any other audience you’re trying to reach with your business plan.
4. How Often Do Entrepreneurs Get Funded From Your Business Plans?
This is one of the major reasons you’re paying to have a business plan created in the first place, so you need to ask the provider about the success of their work and its ability to hook a funder.
Tread carefully if they seem not to know the answer or are evasive. It could mean that they’re not giving good support after creating the plan such as professional advice and connecting you with investors.
It might be time consuming, but doing your due diligence by vetting each business plan writer you’re considering will help you find the best one for your needs. Finding the right provider for the job will boost your chances of getting funded and give you peace of mind about the entire process.