Help Writing a Business Plan: How to Seek Professional Help

There are a number of types of professionals who can be of great help in your business plan writing. Seeking advice from one or more of these individuals to review your plan and to offer constructive criticism can strengthen your plan significantly before it is put in front of a funder for consideration.

Business Plan Advisor or Mentor

Small Business Development Centers (SBDCs) and SCORE are two programs which offer some free advisement for entrepreneurs. While these individuals will not be able to rework your plan or offer multiple hours of consulting, they can set you on a better track if you have derailed and point you towards other professional help you may need. The feedback you receive may be more general than feedback from a paid consultant, but if your means are limited or you are still at the stage of investigating the feasibility of your idea, this may be a good first step.

Lawyer

A lawyer should be sought out to consult on the best legal structure of the business, key legal liability issues to consider, insurance and permitting requirements, and assistance with contracting. Be careful to approach a lawyer with specific questions so as to make the most productive use of the expensive hours of consultation.

Accountant

An accountant's advice will be of great help to look at your financial statements, or even to advise you on how to create these statements. As long as the accountant has experience with your business sector, they should be able to advise you on target ratios you should be consider. A tax accountant can also speak to the tax repercussions of different legal structures and investment deals.

Business Plan Consultant

A business plan consultant will have basic knowledge of the legal, insurance, and accounting areas, but will offer exceptional added value in strategic areas. A business plan consultant should be an individual who has read many plans and helped to create successful plans over the years. They should bring to the table not just an understanding of business strategy, but a specific understanding of what funders want to see.

Eric Powers is associated with Growthink, a business plan consulting firm. Since 1999, Growthink has developed business plans for more than 2,000 entrepreneurs and business owners who have raised more than $1 billion in growth capital. Call 800-506-5728 today for a free consultation with a Growthink business plan consultant.