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Where's the Value?

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kedarbullock

New Contributor
Sep 22, 2021
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My clients are entrepreneur enthusiasts or entrepreneurs in their startup/growth phase. I understand that most entrepreneurs try to cut costs as much as possible. I also understand that most people practice planning skills to some degree within their professional journey.
What I do not understand is what creates the value in a business plan writing service. How can some business plans cost $50 and some $10,000 or more. Or better yet, why pay for a service you can do yourself.

In an effort to further my examination, I want to ask each reader, SPECIFICALLY, a host of questions. Please, answer as specific to your life and avoid hasty generalizations.

Is there a need for business plans?

How much would you pay for one?

Why would you pay what you would pay?
 

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EternalStudent

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My clients are entrepreneur enthusiasts or entrepreneurs in their startup/growth phase. I understand that most entrepreneurs try to cut costs as much as possible. I also understand that most people practice planning skills to some degree within their professional journey.
What I do not understand is what creates the value in a business plan writing service. How can some business plans cost $50 and some $10,000 or more. Or better yet, why pay for a service you can do yourself.

In an effort to further my examination, I want to ask each reader, SPECIFICALLY, a host of questions. Please, answer as specific to your life and avoid hasty generalizations.

Is there a need for business plans?

How much would you pay for one?

Why would you pay what you would pay?
Benefits I can think of partnering for a business plan would provide

- asking the questions I wouldn’t think to ask by myself
- confidence that nothing is missing or wrong
- improved odds at getting finance or vc

in terms of cost… you’ve already pointed out that no one wants to spend unnecessarily in the early days… personally I wouldn’t pay anything for a business plan right now, but when I’m at the point of seeking finance or other capital to take the biz to the next level , I would look at the value you are providing…. If you are the person to get me a million dollars funding then why would I blink at a measly $10k ?
Free templates and questionnaires might be a good way to get people into your funnel. Relationship building and track their progress until they are ready to pay for a formal “banker friendly” business plan
 

kedarbullock

New Contributor
Sep 22, 2021
4
2
11
Benefits I can think of partnering for a business plan would provide

- asking the questions I wouldn’t think to ask by myself
- confidence that nothing is missing or wrong
- improved odds at getting finance or vc

in terms of cost… you’ve already pointed out that no one wants to spend unnecessarily in the early days… personally I wouldn’t pay anything for a business plan right now, but when I’m at the point of seeking finance or other capital to take the biz to the next level , I would look at the value you are providing…. If you are the person to get me a million dollars funding then why would I blink at a measly $10k ?
Free templates and questionnaires might be a good way to get people into your funnel. Relationship building and track their progress until they are ready to pay for a formal “banker friendly” business plan
I totally understand your POV. Allow time to work in my favor, which could possibly mean pushing back my launch time. In the meantime, build rapport, expertise, and network. Ultimately, avoid selling small now to sell market value later.

I also like the questionnaire idea. Thanks for the feedback.
 

kedarbullock

New Contributor
Sep 22, 2021
4
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11
credible mentors > business plans
I like your hypothesis. Are you proposing build a network of mentors and sell their time for expert advice? Or are you proposing build my own level of expertise which provides the value to the business plan?
 

Itizn

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Sep 25, 2019
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I'm saying get in front of accomplished and high value individuals.

Offer the right type of value and they'll engage with you, book a call, introduce you to their network, etc.

If you're starting out from scratch, this route is more likely to produce the results you want, as opposed to jotting words on a nicely designed document.
 

Kung Fu Steve

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I don't know where you are in the world, but here in the U.S. we have an organization called S.C.O.R.E.

It's a free organization where retired execs will mentor you... for free.

Many years ago I found out that if I went through 2 mentor calls AND wrote a business plan that they approved, I would get a special stamp of approval for the SBA loan at the bank.

Those two free calls got me a much higher percentage chance of getting the loan I needed.

The only reason to build a business plan is for funding. It never survives the first 30 days of an actual business.

If you could guarantee that someone would get funding or their money back... maybe you've got something.

Or "pay me when you get the funding"

... I wouldn't touch your business with a 10 foot cattleprod but if you're serious about it, look at how people are already doing it.
 

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