If you’re serious about starting your business, business plans are a must.
Business plans act as a management tool, identifying potential challenges and providing you with
strategies for growth.
At NCH, we offer a professional business planning service to help you write a business plan customized to your industry and needs.
Why Do You Need a Business Plan?
A business plan plays many roles in any organization–whether new or old. It
represents who your business is today and who your business will be tomorrow, as well as creates a
detailed road map to ensure you and your business get there safely.
It can help you better understand your market and target audience while developing a financial plan that meets your objectives.
Most importantly, business plans focus your attention on productivity and allow you to establish benchmarks to measure your success, as well as give directives to avoid costly mistakes.
The Advantages of a Business Plan Service
A business plan helps you create goals for your business.
For many business owners, daily operations can circumvent real progress. Because of this it’s not
uncommon for larger, more important projects to become continually wait-listed.
Your business plan will ensure that you have thoroughly outlined your strategic opportunities to capitalize on expansion, partnerships, and new products or service offerings, to name a few.
A business plan allows you to effectively communicate with everyone.
Clarity is key when it comes to building a brand, culture, and evolving environment that can
proficiently manage customer service, products, and finances.
Business partners, management teams, and employees should understand the objectives, expectations, and requirements for fulfillment. A business plan ensures this by creating alignment among founding partners and stakeholders with consistent messaging and missions.
A business plan can determine the value of your business.
At some point, you’ll want a real valuation of your business. A business plan will help determine that value. Apart from financial statements, many investors and business experts will use your business plan to fully understand the competitive market, your growth strategy, and your unique products or services. It will also help answer questions and close gaps of potential concern.
A business plan will raise money and attracts investors.
Communicating your vision in a concise, compelling manner will provide you with a solid foundation to
raise capital for your business.
Business plans showcase and organize established strategies, required allocated resources, attention to business finances, and projected growth. This detailed insight encourages financial support and partnership opportunities, making your business more appealing to investors.
Our Business Planning Service Includes the Following:
- Mission, Vision, & Objections of the venture
- The Company (its legal description, history, and current situation/location)
- Products & Services (offered and planned)
- External Environment (the industry status, the economy, legal/regulatory)
- Overall Market (including competition analysis, size, growth, demographics, etc.)
- Target Market (the specific segments your firm has or plans on pursuing)
- Analysis of Strengths, Weaknesses, Opportunities, and Threats/Risks
- Sales & Marketing Strategy (including promotion, pricing, distribution, forecasts)
- Management Team & Advisors (one of the most crucial areas for influencing funding)
- Operational Plan (including equipment, labor/personnel, and production/service process)
- Implementation Plan
- Financials & Exit/Payback Strategy (to show how investors/lenders will get their return)
Frequently Asked Questions
How long does it take to create a business plan?
The timeline will depend on factors such as your business's complexity, the research depth required, and the responsiveness of involved parties. Developing a well-researched and detailed business plan can take a few weeks to a couple of months.
How often should I update my business plan?
Your business plan should be a dynamic document that reflects changes in your business environment. It's advisable to review and update it annually or whenever significant changes occur, such as shifts in your market, products, or strategies.
I have a small startup. Is a business plan still necessary?
Yes, even for a small startup, a business plan is vital. It helps you define your business's direction, set achievable goals, and secure financing. A well-structured plan can also guide your day-to-day operations and help you adapt to challenges as your business grows.
Can I create a business plan on my own?
While it's possible to create a business plan independently, a business planner offers expertise, industry insights, and a polished presentation that enhance your plan's effectiveness. Their experience can help you avoid common pitfalls and create a more compelling document.
How confidential is the information I share with a business plan service?
Reputable business plan services prioritize confidentiality and should have measures in place to protect your sensitive information. Be sure to hire one with a strong track record and clear privacy policies to ensure your data is handled securely.
Let Us Help You Create a Business Plan
With NCH's business plan services, you will have a dedicated business planner and advisor who will help you create and design a fully customized business plan for your needs. They will handle all the writing, editing, research, analysis, and projections on your behalf.