Business Plan Writer for Companies Raising Capital

Why Business Plan Templates Don’t Work and What You Can Do About It

Why Business Plan Templates Don’t Work and What You Can Do About It

Why do business plan templates frustrate us so much? When someone thinks about writing a business plan for a bank loan or angel investment, they often start with downloading a template and attempting to fill it in or complete it. When I wrote my first business plan, I attempted to do the same thing. It didn’t work. Instead, I had to write a plan from scratch, show it to a mentor, and request feedback from him.

I have received hundreds of phone calls and emails over my past decade as a business plan writer. Some of the smartest entrepreneurs quickly grew frustrated with the process. Writing a business plan is not as simple as coloring within the lines.

Business plan templates don’t work for the following reasons:

  • They can’t help you with strategy. If you know the exact business strategy you intend to use, then great. If you need to discuss your business operations, staffing, or marketing strategies, then the template cannot offer feedback. For example, I helped a client with an e-commerce business identify her best sources of leads and a conversion funnel. She would have not known about these opportunities without a “human” working with her.
  • They can’t prompt you for additional information regarding your business model. As a business plan strategist, I oftentimes help my clients discover new revenue streams and profit centers not listed in a generic template.
  • They can’t warn you about a dangerous decision you’re about to make. Recently I spoke with a team of entrepreneurs who are starting a cryptocurrency based business. Their business has some legal concerns that they had not thought of and a template would never have warned them of the potential legal threat.
  • They can’t think through your financials. Your financials are the most important part of your business plan. Every decision you make has a financial impact – even if you’re hiring a “free” intern. The template cannot help ensure you have thought of all items that should be placed into the pro forma.
  • They can’t help you stand out. Fundraising is extremely competitive. You must present a business plan and financial forecast that shows you are the best of the best. It’s important to write an engaging business story and plan. Templates are dull and you can never stand out by using one verbatim.
  • They can’t write it for you. I frequently receive phone calls from entrepreneurs who have their vision in their heads but simply can’t seem to put it down on paper. It’s no fun struggling at 3 A.M. to come up with the words and templates can’t do that for you.

Currently, our team is working on a hybrid scenario where you complete 50% of the business plan using a template and we help you complete the other 50%. I have made it my mission to help the “little guy or girl” get the funding needed to grow their business. Contact us to learn more.