FAQ

Q:    What is a business plan?

A:    A business plan is a formal written document that outlines the goals of a business and the strategy for achieving those goals. It serves as a roadmap for the business, providing a comprehensive overview of various aspects such as the business concept, mission and vision, target market, competitive landscape, marketing and sales strategy, operations plan, management team, and financial projections.

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Q:    What is included in a business plan?

A:    Key components of a typical business plan include:

 

Executive Summary: A concise overview of the entire business plan, summarizing the key points and goals. Even though it is the first part of the plan to be read, it is written last once the remaining plan has been completed. Ideally, it is only one to two pages. 

 

Business Description: The company description provides information on what the business does, and how it is different from other businesses within the industry and markets it serves. It provides the business mission, vision, and the problem it aims to solve or the need it seeks to fulfill.

 

Market Analysis: Before launching the business, it is essential to research its industry as a whole, its target market and its competitors including a description of the target market and the business's competitive advantage.

 

Organization and Management: In the company and management section, the organizational and management structure of the business is clarified. Use this section to describe the current team and key personnel.  Provide a quick overview of the business location, and its history if the business is already up and running. If this is a new start-up, then outline your history, your skills, and qualifications that make you a good fit for your business ideas.

 

Product or Service Line: This section details information about the products or services offered, including features, benefits, and unique selling points.

 

Marketing and Sales Strategy: The marketing and sales section outlines a plan for promoting and selling your products or services, including pricing, distribution, and promotional strategies. It provides a SWOT Analysis, the business Sales Strategy, and an outline of its competitive position. 

 

If funding is required for the business, then here would be the opportunity to bring this information to the forefront. 

 

Funding Request (if applicable): If the business is seeking funding, this section outlines the amount of funding required, its purpose, and how it will be used.

 

Financial Projections: The business plan isn't complete without a financial forecast. If funding is needed, it is critical to provide financial projections to back up the request beginning with a sales forecast and including a cash flow statement, an income statement (also called profit and loss), and a balance sheet.

 

Appendix: This section is used to highlight supplementary materials, including the operator's resume, business insurance, vital marketing images, permits, leases, product images, or any other essential information.

 

Business plans are essential for various purposes, including securing funding from investors or lenders, guiding the business's development, and providing a reference point for decision-making and performance evaluation. They are often used by entrepreneurs, start-ups, and existing businesses looking to grow or make strategic changes.

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Q:    Why is a business plan important?

A:    Would one build a home without architectural plans? The answer is most likely to be a “No” because a house requires a solid foundation to stand on. Launching and growing a business are quite similar in that regard. 

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Having a business plan is crucial for several reasons, and it serves as a foundational document that can significantly impact the success and sustainability of your business. Here are some key reasons why having a business plan is important:

 

Guidance and Direction: A business plan provides a roadmap for your business. It outlines your goals, objectives, and the strategies you will use to achieve them. This helps you stay focused and provides direction for your business operations.

 

Strategic Decision-Making: A well-developed business plan enables you to make informed decisions. It forces you to thoroughly analyze your market, competition, and financial projections, helping you make strategic choices that align with your overall business objectives.

 

Communication Tool: A business plan is a communication tool that you can use to convey your business idea and strategy to potential investors, partners, employees, and other stakeholders. It helps create a shared understanding of your business among different audiences.

 

Attracting Investors or Lenders: If you're seeking external funding, a business plan is often a requirement. Investors and lenders use it to evaluate the viability of your business, your financial projections, and the potential return on investment.

 

Risk Management: A business plan forces you to identify potential risks and challenges that your business might face. By doing so, you can develop strategies to mitigate these risks and be better prepared to handle unforeseen obstacles.

 

Operational Efficiency: It provides a detailed overview of your business processes, operations, and structure. This can help you identify areas for improvement, streamline processes, and enhance overall operational efficiency.

 

Measuring Progress: A business plan serves as a benchmark for measuring your progress over time. By regularly comparing your actual performance against the goals and projections outlined in your plan, you can assess how well your business is doing and make necessary adjustments.

 

Employee Alignment: A business plan can be a valuable tool for aligning your team with the company's goals and objectives. It helps employees understand the company's mission, vision, and the role they play in achieving success.

 

A business plan is a live document that not only helps you plan for the future but also acts as a dynamic tool for managing and growing your business. It encourages strategic thinking, provides clarity, and enhances your ability to navigate the complexities of running a successful enterprise.

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Q:    Why should you pay someone to write your business plan?

A:    You shouldn’t pay just anyone to write your business plan, however, you should pay an expert to write your plan if you simply just don't have the time. Paying someone to write your business plan can be a strategic decision for several reasons: 

 

Expertise and Experience: Professional business plan writers often have extensive experience and expertise in crafting effective business plans. They understand the key components that investors, lenders, and stakeholders look for and can ensure that your plan meets industry standards.

 

Time Savings: Writing a comprehensive business plan can be a time-consuming process. By outsourcing this task to a professional, you can save time and focus on other aspects of your business, such as product development, marketing, and operations.

 

Quality and Clarity: A skilled business plan writer can enhance the quality and clarity of your plan. They have a knack for presenting complex information clearly and compellingly, making your business proposition more attractive to potential investors or lenders.

 

Customization: A professional business plan writer can tailor the plan to your specific needs and industry. They can conduct market research, analyze competition, and create a plan that aligns with your business goals and objectives.

 

Objective Perspective: An external writer can provide an objective perspective on your business, which can be valuable. They can identify potential weaknesses or gaps in your plan and offer suggestions for improvement.

 

Access to Resources: Professional business plan writers may have access to a range of resources, including market research tools, industry databases, and financial modelling software. This can contribute to a more thorough and well-researched business plan.

 

Credibility: A well-written business plan can enhance your credibility with investors and lenders. If the plan is clear, concise, and professionally presented, it can instill confidence in those considering investing in or lending to your business.

 

Networking Opportunities: In some cases, business plan writers may have connections in the business and investment community. Engaging their services could potentially open doors to valuable networking opportunities or introductions.

 

While hiring someone to write your business plan can be beneficial, it's important to choose a reputable and experienced professional. Ensure that they understand your industry, business model, and goals. Additionally, be actively involved in the process to ensure that the final product accurately reflects your vision and objectives.

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Q:    Can you tell me more about a businessMD business plan writer?

A:    A businessMD business plan writer is an expert at what they do, having reviewed thousands of plans and helping individuals with their business plans.

 

A businessMD business plan writer will collaborate with the business owner with the aim that they gain a deeper understanding of their business value proposition and will provide market research, create financial projections and overall business management guidance. All of these elements are brought together in a full business plan document.

 

While picking a business plan writer is an important decision, a businessMD business plan writer is dedicated to crafting a complete and comprehensive plan for your business's success.

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Q:    Do you allow edits after the completion and handoff of the plan?

A:    Yes. We allow quick and simple edits for 7 days following the handover of the plan.

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Q:    Do you include market research in your plan?

A:    Yes, we do market research. We review industry reports and use them to lend more credibility to your plan and validate the assumptions made in the financials section.

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Q:    What is included with the VIP business plan writing service?

A:    With our VIP business plan writing service, you'll own a bespoke, professionally printed, and bound hard copy ready-to-use business plan that will breathe and evolve as long as the business is an ongoing concern. This service comes with a Word file of the plan, a one-page pitch, and a PowerPoint presentation, all of which will serve as presentation aids for investment and funding purposes.

 

Our VIP business plan writing service also includes up to 8 hours of collaboration and business management learning (if and when needed), quick and simple edits for 7 days following the handover of the plan, and a USB stick with the files. (Additional hard copies are available at an additional cost.)

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Q:    Can a businessMD business plan guarantee funding for my business?

A:    There are several factors that lenders and investors take into consideration during their decision-making process for lending. Many of these are beyond our control and one such example is the client’s credit. In this regard, we coach our clients accordingly. 

 

While it can be difficult to get funding without a well-crafted business plan, at businessMD, we provide well-crafted business plans.

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Q:    Will you share my information?

A:    We take your privacy very seriously. In no way will we share client information.

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Q:    How long will it take to finish my Plan?

A:    A complete and comprehensive business plan can take 3-4 weeks to complete, (as many as 120 hours), depending on how quickly communication flows between the business owner and writer. Timing will also depend on our workload at the time.

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Q:    Will my plan include a financial section?

A:    Absolutely.

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Q:    What format will you deliver my plan in?

A:    We can deliver your plan in PDF format, and/or Word format, and /or hard copy if you so wish. We will also allow Word edits to your plan. Extra costs will be applied to edited hard copies. PowerPoint presentations are also made available at an extra cost.

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Q:    How many pages is the average business plan?

A:    We prescribe to the idea that any business plan that is less than 10 pages long does not contain enough essential information. Moreover, any plan longer than 30-40 pages may contain more information than necessary. Long gone are the days of 50, 60 or 70-page business plans.

 

Depending on the complexity of your business, your finished modern business plan can end up being anywhere from 15-40 pages.

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Q:    Who will write my plan?

A:    Your businessMD business plan writer is a uniquely qualified and highly trained business plan expert who has worked with an array of industries and can translate your ideas into a professional business plan that will appeal to your target audience.

 

Decades of business ownership, business management, business consulting, and business plan writing experience, allow us to be very good at what we do, and that is to write business plans that help start and grow your business. We help small businesses succeed!

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Q:    How much does this professional service cost?

A:    Costs for our high-spec, bespoke VIP business plan writing services can vary depending on the business owner's needs. We recommend contacting us to set up a No Fee Initial Consultation so that we may first assess and then provide a custom quote. 

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Q:    What if I don’t like my plan?

A:    All of our business plans are crafted and tailored to meet your needs.

 

You will always be within our communication loop and you'll have the opportunity to review and provide feedback after incremental business plan draft periods. We will only proceed after you have approved each incremental stage. We, therefore, recommend that you take the time to be thorough in your feedback to eliminate any risk of disliking your plan. You will help us shape your plan into a business document that lenders and investors will appreciate, but more importantly, a plan that you will love and that will guide you on the right path.

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Q:    Who is Ioannis John Anagnostou?

A:    Ioannis John Anagnostou is an expert Personal Business Coach with decades of hands-on experience in start-up and early-growth businesses. His expertise lies in guiding entrepreneurs toward success and offering valuable insights and strategies.

 

Q:    Do clients refer to you as Ioannis John, Ioannis, or John?

A:    Clients often refer to me by their preferred choice, and I am comfortable with Ioannis or John—whatever feels most natural for them. My priority is to create a personalized and comfortable coaching experience for each client.

 

Q:    What sets Ioannis John Anagnostou apart as a Personal Business Coach?

A:    Ioannis brings a unique blend of practical experience and coaching skills to the table. Having launched multiple successful businesses and dedicated over 15 years to helping others start theirs, he offers a wealth of real-world insights, making him a trusted partner for those navigating the entrepreneurial journey.

 

Q:    What services does Ioannis John Anagnostou provide?

A:    Ioannis specializes in personalized business coaching, offering guidance in areas such as business planning, strategy development, and overcoming challenges specific to start-ups and early-growth businesses.

 

Q:    How does Ioannis approach business coaching?

A:    Ioannis believes in a holistic approach to coaching, combining his no-nonsense, straightforward style with a touch of fun. He aims to not only help clients achieve their business goals but also foster a healthy work-life balance.

 

Q:    What can clients expect from working with Ioannis John Anagnostou?

A:    Clients can expect personalized coaching tailored to their unique needs and business objectives. Ioannis is dedicated to providing practical solutions, strategic insights, and the tools necessary for clients to thrive in their entrepreneurial endeavours.

 

Q:    How can one get started with Ioannis John Anagnostou's coaching services?

A:    To begin the journey with Ioannis, interested individuals can reach out for a free consultation. This initial conversation allows Ioannis to understand their specific needs and outline how his coaching services can contribute to their success.

 

Q:    Is Ioannis Anagnostou for new entrepreneurs only, or can established business owners benefit too? 

A:    Ioannis caters to both new entrepreneurs and established business owners. His wealth of experience makes him an invaluable resource for those looking to launch a new venture or take their existing business to new heights.

 

Q:    What is Ioannis John Anagnostou's philosophy on business coaching?

A:    Ioannis believes in continuous learning and innovation. His coaching philosophy centers around empowering clients with the knowledge, skills, and mindset needed to not only overcome challenges but also thrive in the ever-evolving business landscape.

 

Q:    What is the best way to get in touch with Ioannis John Anagnostou for more details or a consultation?

A:    To connect with Ioannis and explore how his coaching services can benefit you, feel free to reach out through the provided contact information. He looks forward to helping you achieve your business goals!