Business Plan

Tiddlypeeps

Can anybody advise me on how much it might cost to hire somebody to write a business for my company?

There are four directors involved and none of us are any good with the business/marketing end of things, so if we did write it out ourselves it would be very poor. The business is based in the tech sector, we primarily make games for Apple devices like the iPhone. We just launched our first game last Tuesday.

Here is our webiste:
http://www.superfunplay.com/

If anybody can tell me how much someone might charge for this we can then work out if we can afford it or even if its worth while.

Also if anybody knows where I might find someone to take up this task that would be great.

Thanks.

ssbob

Your local enterprisde board should be able to help you out.

Tiddlypeeps

We have been out speaking to them already. They gave us a bit of direction as to how to go about writing our own business plan, but that is about all they could do for us until we have a business plan to show them. Even with their advice none of us are really strong enough at that sort of thing to attempt to write it ourselves.

Herbalist

OP just in case it would be of help to you you can download free planning for business software from the Sage website. Its free and basically it helps you to create a business plan using a step by step approach.

Its designed for people / start ups who have not done a plan before with a view to helping you create something that you can present to an enterprise board or to apply for funding from a financial body. In each section you fill in the information and the system gradually builds the plan for you. While none of you have done a plan before through your market research you should already have the answers to a lot of the quetions and information needed to do a Business Plan and might just need some help and a structure to put it all together. The system also includes some sample business plans so you can see what the end result should look like. I am associated with Sage and can verify that this software is completely free.

Aside from that do you know anyone who has started a business before and done up a business plan that could give you some advice on getting started?

ssbob

Hi OP,

The following link was helpful to me, it gives sample business plans so you get an idea of what they are about:

http://www.entrepreneur.com/businessplan/

Hope this helps, ulster bank also provide a service but it would probably do you no harm to build one on the guidelines of the above link and then maybe ask your accountant to look it over.

Tiddlypeeps

Thanks for the advice, but the main problem with using sage would be that we are still required to have proper market research and all that sort of stuff. We have done bits and pieces of market research and its quite clearly a viable market, but I wouldn't have a clue how to put that on paper or back it up with numbers. The last time I tried anything I put down on paper seemed very made up with no real support. None of us are accountants or marketing people what so ever.

It's seems really hard to get an answer out of people on this topic. Everybody seems to want us to do it ourselves. All I really want to know is, is it possible to hire someone to do this for us? Is this something that people do often?

I realise if we were to hire someone to do this for us it wouldn't be a straight forward transaction, here is some money now give me a business plan. I'm aware we would probably have to have lengthy discussions with the person about the direction we want the company to go in etc etc.

If I'm told that this isn't possible to get someone to do it for us, then I will look into doing it up myself again. We will just have to settle for a mediocre, amateurish business plan with weak market research.

ssbob

You could get your accountant to draw this up for you but the market research end of it will either have to be done by you or you will have to contact a market research agency and ask them to do this on your behalf............

But seeing as the website and business is already up and running then thats the best possible market research, the numbers from those apps will give you a reasonable estimate on what you can achieve but you can also look at numbers of similar apps on iTunes an use that towards your business plan.

What part of the country are you based in?

TheScriptFan

Tiddlypeeps wrote: »

Thanks for the advice, but the main problem with using sage would be that we are still required to have proper market research and all that sort of stuff. We have done bits and pieces of market research and its quite clearly a viable market, but I wouldn't have a clue how to put that on paper or back it up with numbers. The last time I tried anything I put down on paper seemed very made up with no real support. None of us are accountants or marketing people what so ever.

It's seems really hard to get an answer out of people on this topic. Everybody seems to want us to do it ourselves. All I really want to know is, is it possible to hire someone to do this for us? Is this something that people do often?

I realise if we were to hire someone to do this for us it wouldn't be a straight forward transaction, here is some money now give me a business plan. I'm aware we would probably have to have lengthy discussions with the person about the direction we want the company to go in etc etc.

If I'm told that this isn't possible to get someone to do it for us, then I will look into doing it up myself again. We will just have to settle for a mediocre, amateurish business plan with weak market research.

I guess the problem is, to write a business plan, you need to be very familiar with the company. I am an accountant, as you guys said you aren't good at your business side, I would imagine you have hired an accountant, I often help my clients out with business plans so I would imagine yours would to. Be very aware of people offering to do business plans, you really need to do your due diligence. I would contact the SFA (Small firms Association) as they will be an excellent resource for you.
If you are not good at business plans, then do not do it yourself, it may limit investment, as it may seem poorly thought out. I would put down the key stages as best you can, and then meet with 3 different professionals offering this service. Speak with other entrepreneurs to see what they did.
Very best of luck!

Tiddlypeeps

ssbob wrote: »

You could get your accountant to draw this up for you but the market research end of it will either have to be done by you or you will have to contact a market research agency and ask them to do this on your behalf............

But seeing as the website and business is already up and running then thats the best possible market research, the numbers from those apps will give you a reasonable estimate on what you can achieve but you can also look at numbers of similar apps on iTunes an use that towards your business plan.

What part of the country are you based in?

Were based in Dublin.

ssbob

Tiddlypeeps wrote: »

Were based in Dublin.

I am sorry I cannot help you any more but as mentioned your best bet is accountant first then at least you will get a starting point.

Tiddlypeeps

I will talk to the accountant to see if there is anything she can do for us.

Thank you for all the advice.

Dark Phoenix

I will PM you OP I know of a Dublin based company who may be able to help.

calahans

Hi,

While I agree with some of the posters that the business plan is very personal to the founders, you might be able to find someone to do it on our site consult.ie

If not then split it out between the four of you and take a section each. Just keep plugging at it until you a *relatively* happy. Also if you do one make sure you try stick to it rather than leaving it sitting on the PC.

Best of luck!

PaulPinnacle

Tiddlypeeps wrote: »

It's seems really hard to get an answer out of people on this topic. Everybody seems to want us to do it ourselves.

That is the answer

I understand your concerns though. You want a polished and professional plan, that will stand you well with banks/VCs/etc..

Personally, I'd advise against having one 'totally produced' like that. It should be your document. To reflect your business. Full of information that you understand and believe in.

Having said that, if it helps provide a base to work from and remove some of the fear, it wouldn't hurt too much. Just be sure that whatever goes into the 'final' business plan is information that you understand, can explain, can justify the assumptions behind and that you believe in the information enough to be able to present it in a positive light.

What is the intended use of the plan? In-house management/goal setting? External investment? Bank funding?

I'm a strong believer in every business having a clear and well produced business plan. Even if they don't 'need' it for any specific application. It gives you an opportunity to review your ideas, figure out how they will actually work, give clear goals to measure the success (or otherwise) of the business going forward, allow the 'running' of the company to be planned out clearly so everyone involved understands what is required, have an understanding of the fundamentals of the business (what sales you require to hit your 'breakeven' point, how to lower your overheads, what budget do you have available for marketing, etc.), give a clear plan to how you see the company developing and, an important one, to stress test the viability of the business before investing your own time or money into it. If you can't convince yourself that it will be a success, you won't convince the lending institutions.

Tiddlypeeps wrote: »

All I really want to know is, is it possible to hire someone to do this for us? Is this something that people do often?

In your discussions with the CEB, did they ask which areas of the business you might need help with? If you explain that it's the 'business planning' side of things and that you're looking for help in producing a high quality business plan, they should be able to put you in touch with a suitable local mentor.

There are businesses that specialise in this area. I've heard first hand reports about Tony Haren, Ardmore Business Solutions, that were glowing. Location wise he's far from ideal, but might be worth having a conversation with the man (he's always a pleasure to deal with).

(No connection to the company etc. and no first hand experience of the work, but I have casually chatted with Tony briefly on other fora)

IRE60

T

I sent you a PM

C

Tangled

Just saw this person on Twitter and it reminded me of this post:

Bio In a nutshell I work with companies/sectoral orgs to craft winning business plans.

Website here

randomer

Why do you need a business plan? If you are looking to raise funding, then a business plan is not that important. Most VC firms, especially those involved in digital media firms will be more than happy with a pitch deck. While the business plan is essentially dead, the planning process is as important as ever. Rather than delivering a 40 page document, a well thought out 10 slide deck is more than sufficient.

I would highly recommend you buy a copy of Pitching Hacks (http://venturehacks.com/pitching). It costs $9 and is written by the guys who run venture hacks in San Francisco. It gives a step by step guide on what should be in your pitch deck.

Also, check out Quora.com, there are quite a few opinions about business plans from some very influential people.

This question especially, "Is the business plan dead?" (http://www.quora.com/Is-the-business-plan-dead?q=business+plan).

decker81

http://www.paloalto.co.uk/software/business_plan_pro/feature_tour/sample_business_plans.cfm


I bought this two weeks ago - cost £99 for my business www.weblettings.ie - it has hundreds of templates for whichever industry you are in and you can view other similar businesses actual business plans and then adapt them to your circumstances as you see fit.


Unfortunately I am not connected with this company so unfortunately I won't receive any nice commission for you acting on foot of this recommendation!


Regards
dk

decker81

As regards the marketing end of things I have one recommendation alone and the only one you need as far as i am concerned regardless of your business - Chris Cardell - google him - I've attended his business seminars and the guy is a genius in terms of creating marketing ideas for generating business. His seminars can cost over 1K but it definitely has paid off for me - like many things in life you get what you pay for and although I haven't made my first million yet I have recovered the cost of my investment in his services so I have gained plenty of knowledge for future usage and lost nothing.

Admor Tony

First Paul, thank you very much for the positive comments and the referral to this website and Forum post.:

In relation to the original post Tiddlypeeps, you asked a direct question about the cost of outsourcing the Business Plan:

• The cost of a reasonably straightforward Business Plan with 15 / 20 pages for a relatively small funding need should be between €600 - €1000. Bigger / more technical Plans will be more. A new client of mine was charged £5000 for a Business Plan by a large firm that he admits now is on a shelf in his office and was not worth it.Higher spend does not necessarily mean higher quality so choose your writer very carefully.

As regards later posts, more information on your business would be useful e.g. the need for Bank v VC / Equity funding what level etc but n any event these are my comments:

1. Starting with your Accountant and / or trying out the Local Enterprise Agency make good sense although you will need to make sure both have experience with Business Plans specifically.
2. Best to write at least the 1st draft yourself and seek advice from an independent expert before final submission to a funder,
3. Business Plan templates are very useful as a starting point and there are near completed sectoral templates that can be used to start you off.
4. Many Accountants and Enterprise staff I meet accept they do not have substantial experience in how to structure Business Plans to maximise the likelihood of securing funding and an independent final view from a lending bank adviser perspective would be very useful.
5. Business Plans are not dead, just look at this recent addition by the British Bankers Association http://www.bba.org.uk/downloads/bba/Lending_application_checklist.pdf . While it is UK based, the principles are the same for all Banks.
   

A key issue is the definition of a ‘viable’ business and how exactly you prove that to a Bank when seeking funding? That will be the subject of a separate post on this Forum.

Finally, good luck with the business and the Business Plan, it does look like there is lots of potential.

Tony