Business plans require much effort and are often abandoned due to such requirements. However, most who have done a business plan have reaped the rewards. Still, business plans are not essential but are a good idea. The more you put into your business plan the greater your success. The reasons often for utilizing a business plan are to be organized and to get financed so as to show your businesses’ plans to others. Business plans also have the advantage of setting the pace, bringing others in the business to the same page so everyone understands the goal. Typically, some may decide to hire a consultant which are in the cost range of $800 to $2,000 for a small SMB business.
The advantages to a consultant are numerous as their advice gives insight and experience. Should you instead be interested in writing your own plan, there are sources out there to help. The Australian government for example has free business plans and guides (https://www.business.gov.au/Info/Plan-and-Start/Templates-and-tools/Business-Plan-Template-and-Guide)
Many books are often over the top, providing insight that supersedes the scope of small businesses and organisations. Instead, the best solution may be to use planning software that will guide you.Such software can run anywhere from $100 to $300 although there are free services. An example of such a service is Enloop, a free service which would allow you to feel out your needs. Working with cloud based software can have some major advantages such as being easy to change and edit figures as your business grows as well as being accessible most anywhere should you feel the need to update your plan.
Read more: Doing a Business plan
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