Business Plan

There are many companies that offer business plans for emerging businesses. Entrepreneurs can now purchase software or books that will help them build a business plan. All these sources can be extremely helpful in organizing your business venture. Although bankers and investors will review your business plan; at the Hoffman Consulting Group, we believe that the entrepreneur receives the greatest value from the process of preparing the plan.

The journey of preparing a business plan can be long and tedious. There are several details to be discovered and outlined. Some business plans are a few pages while others can be hundreds of pages long. There is not a specific length requirement to make a good business plan. Investors and bankers will be most interested in the numbers and experience of the management team. The rest of the plan is more for the entrepreneur to consider the contingencies and challenges that may arise.

If you choose to hire someone to help you outline and prepare your business plan, make sure you are involved in the process. Make sure they take the time to explain the details of the plan to you. Consider the angles. The business plan is what helps educate the entrepreneur. Whether you are speaking with bankers or investors, you must be confident as you discuss your new business. You need to be prepared to answer hard and penetrating questions.

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