The first step in starting a business should be planning. Just as a home builder won’t start a project without blueprints, you shouldn’t start a business without a plan. Putting together a business plan is something many entrepreneurs dread, but they can be fun to write, especially with the great software that is available today.
While many people only write a business plan because the bank won’t loan them money until a business plan is submitted, the real benefit is getting the ideas out of the entrepreneur's head and creating a roadmap of where they want the business to go.
There are three options to writing a business plan.
2. Software programs – Software is available to provide guidance in developing a business plan. These programs provide guidance and samples from hundreds of industries to jumpstart the writing process. A few popular programs:
3. Hire a business plan writer - We recommend that the entrepreneur write their own plan as no one will write a business plan as well as the owner, but sometimes there isn't time to get it all done. Expect to spend $1,200 - $3,000 for a quality plan.