Technology is advancing more rapidly than ever. In this article, we’ll compare business plan software to retaining a business plan writer. Who will take the crown?
On one side we have the usability and convenience of business plan software, and on the other a professional that breathes, sleeps and walks lean planning. Too many entrepreneurs are falling victim to one of these options, and on this page you’ll find out why.
Let’s get one thing clear:
There is a place for business plan software, but not for our clients, or anyone who is truly passionate about revolutionizing their industry.
Business plan software is best suited for entrepreneurs who seek a cooky cutter solution.
On the contrary, let’s talk about business plan writers.
A true business plan writer gets excited every time their finger touches the keyboard.
Hands – warm, when they strike that perfect mission statement.
I’ve known some writers who went to their clients’ competitions place of business to experience the service themselves; just to help develop that winning competitive advantage.
But here’s the problem:
The concepts behind most business plans are no longer “cooky cutter business concepts”. We know this because we write a fair amount of business plans.
In 2020 we saw a substantial amount of business plans that were for industry disruptors such as:
● Vertical-Farms
● Virtual Car Dealerships
● Structural Engineering Software
● Medicinal Psychedelic Companies
The truth is, the majority of startups today have new business models and unique offerings. When startups make the ill-informed decision of a business plan software they miss crucial details in developing a coherent and complete business plan.
Can you say something positive about business plan software?
There is one aspect of business plan software that we can attest to the financial projections. The ease of punching in projected sales, earnings, costs of goods and expenses.
It’s great, and voila: beautiful charts, graphs, and tables!
The catch?
In order to get to financial projections, you must first accurately write the executive summary, mission statement, vision statement, company summary, industry analysis, market growth rate, competitor analysis, marketing strategy, target audience, key channels, management team summary, key personnel and compensation summary.
Without having this written portion of your business plan completed you are simply making financial projections for a company that hasn’t been fully developed.
This is where Liveplan gets people!
Professionals walk away from business plan software smiling. In fact, their cookie cutter business plans can even make it past basic funding!
Soon, soon, soon after the honeymoon hangover is over is when the entrepreneur starts to see holes in their startup, where challenges were not identified and planned for.
The market the entrepreneur thought was there, simply was not.
Business plan writers know their worth.
A business plan writer goes the extra mile for a client. Performing market research – ensuring that the clients business concept will be successful. When there are red flags the writer stops and consults with the client, one on one, before proceeding.
Anyone can use business plan software and believe that “every question has been answered”.
Although, it takes a business professional to understand the value of an investment in a customized business plan. The ability to be open to challenges they had thought never existed. To work with an experienced writer who walks them through every portion of the plan, so their business will be successful for the long haul.
Why did you write this article?
I want professionals to consider my view on business plan software before they proceed. Many people will read this article and still choose to utilize Liveplan or BizPlan Builder.
For those people, we wish you the absolute best. Please consider this article while you’re developing your business plan.
For everyone else – let’s talk about pricing, because this is the sole reason why entrepreneurs choose business plan software, because it’s dirt cheap!
I’m going to do it right, but how much will it cost?
My Dad always said, “You get what you pay for”.
Now I’ll give you an idea of what a customized business plan will cost you.
On the low end, but still enough to deliver a quality business plan should cost you around:
Low end, but still quality:
● US Dollars: $1,350 – $2,200
● Canadian Dollars: $1,700 – $2,800
● British Pounds: £950 – £1,600
Mid-Range Business Plans:
To be fair the “Low end business plans” can still be incredible plans! Although, not every business concept is the same; therefore, some require extensive research, development and well – time.
Also, mid-range business plans can offer elements of design and presentation. (By the way, we do that quite well.)
Below gives you an idea of what mid-range business plans cost:
● US Dollars: $2,200 – $4,300
● Canadian Dollars: $2,800 – $5,500
● British Pounds: £1,600 – £3,150
Anything over these prices is what we call an “elite business plan”.
A business plan review service is included for our clients who choose an elite plan, where a neutral panel reviews the plan before it’s completed, in an effort to spot any holes or opportunities that could be explored.
We hope this article helped this pivotal decision!
Well, it’s that famous time where I paraphrase the key points from the article.
If you still don’t understand the value of a professionally written business plan, which separates your startup from your competition then by all means using business plan software is an option. Just please remember that you will indefinitely be leaving important questions in the air, and in time they will make themselves evident to you as the business owner.
Next, if you’re on the edge of moving forward with a professional business plan writer then I am so, so excited for you! Do your homework, shop around and go for it!
A professional business plan writer will walk you through each part of the plan, and include you in the development so the final product is custom fitted to your vision.
For help with writing your business plan, or if you just want to chat please feel free to reach out to me personally at: kevin@bsbcon.com
Thanks, and we look forward to developing a business plan that puts your company in a market of its own.
