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  • #966266
    MyBusiness
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    Hi,

    Can someone recommend a good mentor and business plan writer?

    We are opening a retail take away shop in rural victoria.

    Cheers
    Cara

    #1017135
    MyBusiness
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    • Total posts: 9
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    **Bump**

    I have found a few business plan writers online, but really have no idea how good they are; they tend to be priced from $800-$1800???

    #1017136
    Anonymous
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    I can’t personally vouch for it however I found it via a quick google search:

    http://www.myownbusiness.org/index.html

    tho’ I’m a bit cynical these days with the internet and the word FREE … I guess have a look into it ?

    #1017137
    MyBusiness
    Member
    • Total posts: 9
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    vstacy, post: 19667 wrote:
    I can’t personally vouch for it however I found it via a quick google search:

    http://www.myownbusiness.org/index.html

    tho’ I’m a bit cynical these days with the internet and the word FREE … I guess have a look into it ?

    thanks, I will have a look into it – yeh Internet and FREE generally scares me ;)

    #1017138
    rhanek
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    • Total posts: 14
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    Hi there,
    I don’t think I can personally help you directly, as I am in NSW, but I would like to caution you against getting someone else to write your business plan for you unless it is purely and only as part of a loan application process. Having someone else write your business plan will guarantee that you never use it and that it gathers dust somewhere in the bottom of a drawer as opposed to being this living breathing coffee stained essential tool for the development of your business.
    Here is an article I wrote a while ago about business plans to are worth having…feel free to read it and if I can help in any other way…drop me a line
    warmest,
    roland hanekroot

    #1017139
    MyBusiness
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    • Total posts: 9
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    Hi Roland

    Thank you for taking the time to reply;

    I have completed a short course in business management which went through the basics of writing a business plan and do agree that it is a crucial tool for me to get my HEAD in the right space to set goals etc.

    I have just booked a mentor through SMBS who will help me evaluate the feasbility and work through a possible business plan.

    My only concern in doing it myself is that the business is dependent on finance; we haven’t worked out all the figures but likely to be up to $300k loan which I think is alot for the bank to give me. As part of that I was thinking it could be vailable to get a professional business plan?

    What do you think?

    I couldn’t see a link to your article?

    Cheers, Cara

    #1017140
    rhanek
    Member
    • Total posts: 14
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    Hi Cara,
    Yes you are right…the bank is guaranteed to want a business plan….and $300K is nothing to be sneezed at.
    They will wanta number of things. in all likelyhood they will want security as well, but even with significant security they are still going to want to see a business plan… and the bank as well can smell a outsourced business plan a mile away and they will most likely distrust it… much better to work with your mentor to write one yourself… there are polenty of business plan templates available, including from the victorian government small business department… I know that the Tasmania state government has some great resources and there are standard templates all over the place…. but the bottom line is, that a business plan for the purpose of a loan is a document that shows the bank what the business is about, what its market is, how it plans to make money, what the background of the management is etc etc. just the basic steps…

    Here is the link to the article: http://www.newperspectives.com.au/articles/Business%20Plans%20that%20work.htm
    Hope that helps
    roland

    #1017141
    work4me
    Member
    • Total posts: 45
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    MyBusiness, post: 19522 wrote:
    Hi,

    Can someone recommend a good mentor and business plan writer?

    We are opening a retail take away shop in rural victoria.

    Cheers
    Cara

    Hi Cara,

    I have to agree with the comments that your business plan has to be your own. Wading through all the different parts of it forces you to think everything through and gives you the opportunity to formulate your own ideas into workable solutions. Start with the end in mind and keeping breaking goals and achievements down until you get to the point where you have specific tasks that you can complete without too much thinking. Do the thinking and planning up front to prevent flying by the seat of your pants. The saying “Failing to plan is planning to fail” is very true.

    There are many places out there to get business plan formats free of charge, even from some of the banks.

    I have many years of corporate experience and know what a huge waste of resources a business plan can be, if you don’t do it for yourself. Do it and then follow it. If it doesn’t work any more, don’t go off on a tangent, rework it and change it until it works again. A business plan is a living document that has to change with your business. Keep in mind that the bank will keep the business plan you have given them when you applied for finance and they will query major deviations from this.

    Kind regards,

    #1017142
    New Biz Starter
    Member
    • Total posts: 13
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    While we offer business plan writing, I actually agree with most here that you are far better if you can do that yourself.

    My feeling about 3rd party business plan writers is that they (and I am including us here) are great at preparing professional documents to help you raise funds, get a loan or a visa if that is what you need.

    But if you want it as the basis of running your one business, then nothing beats doing it yourself.

    If you dont have the confidence to do the writing yourself then I would suggest you down load a template plan and work though it slowly. Have a go at doing the financial modelling and THEN talk to a business consultant to help you fill in the gaps.

    It wont save you a lot of money – but it will give you a better outcome in the long run

    #1017143
    Butler68
    Member
    • Total posts: 1
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    MyBusiness, post: 19522 wrote:
    Hi,

    Can someone recommend a good mentor and business plan writer?

    We are opening a retail take away shop in rural victoria.

    Cheers
    Cara

    Take a look at our company and let me know if we can help you. You can request a free sample, call for a quote, or just e-mail me directly for information.

    #1017144
    Karen Wardle
    Member
    • Total posts: 363
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    Hi Cara

    I agree that it is best to prepare the plan yourself. But as others here have said once you have completed as much as you can then you should get some professional assistance in having the gaps filled in and the plan professionally documented.

    $300k is a large amount to be seeking, particularly for a new start-up. You do not have previous sales figures that you can provide to the bank. This is why it is important for you to be able to demonstrate that you have a thorough understanding of your business. Having asset backing is no longer enough. The bank will want to see what you bring to the business.

    Your business plan is the opportunity for you to present information such as your industry experience, your knowledge of business, your vision, your motives, the business opportunity and your target market.

    You will develop a greater understanding of all aspects of your business when you prepare the plan yourself. Writing or developing a business plan for a new business involves a lot of work and research on your part but the knowledge that you will gain from it will become invaluable to you in steering your business into the future.

    You can read more about business planning here;
    http://www.you-can-start-business.com/what-is-a-business-plan.html

    All the best with it,

    Karen (Wardle)
    http://www.you-can-start-business.com

    #1017145
    LibbyD
    Member
    • Total posts: 1
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    Cara,

    I have a background in corporate strategy, investment banking and management consulting. I now run a small consultancy business from home. I have written 100s of business plans. I can help you out. If you are still interested please call me on 0407356296 Libby Dummett

    #1017146
    Pete LHCC
    Member
    • Total posts: 8
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    Hi Cara
    contact Janette Comish on 0425 232 394. she assisted me when i started my business 3 years ago and helped me alogn the way and i have gone from strength to strength.
    Regards
    Peter Gwynne
    [email protected]

    #1017147
    RiotPlan
    Member
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    We hope that you’ve gone on to get your funding, Cara. And we aslo hope that everyone doesn’t mind our refreshing this age-old battle of DIY vs Professionals in business planning. We’re a business planning consultancy in Sydney and thought we’d chip in our few cents’ worth on the subject, because this is important for new business owners to understand and also rather close to our hearts.

    Firstly, the idea that you should write your own business plan really is valid. If you know what you’re doing and have plenty of time to kill, then writing a plan is a fantastic exercise in mapping out your business. What we’ve found however is that budding entrepreneurs don’t understand what needs to go into their plan and spend too much time on the wrong areas, or fill up a template with non-essential information. Most clients come to us with half filled-out templates that have taken months to get to this point and the crucial figures have still not been addressed.

    The truth about business planning is that you have to be strong in a number of areas to get your plan together. You have to understand some accounting, some sales and marketing, writing, business policy, strategic planning, management and finance to put a plan together. Many businesspeople will advise that you write your own plan, because they’ve already had ten or twenty years to gather these skills, but for a new business owner, there’s a bewildering amount of learning to do just to be able to understand what you need to write about, let alone to actually write it.

    This is why we believe that a little help to put entrepreneurs on the right track is useful. For our part, we think that clear, concise plans typically save them months of time struggling with planning elements and give them a document that they can understand and grapple with successfully. Plans like this don’t cost the earth and, being easy to read and play with, mean that reading and revising your own plan becomes fun rather than a nightmare. If anything, we think that spending six months writing your first monster business plan takes all the fun out of the process and leaves that business person a little wary of opening the draw and renewing their planning efforts down the track – and don’t be fooled, most business people regard the plan as necessary but it can be extremely painful to do yourself!

    So, in a nutshell – try to avoid being emotionally and psychologically scarred by your business planning process and get some good quality help when you need it most!

    The RiotPlan Team
    Business Plan Writers
    http://riotplan.com.au

    #1017148
    [Former] FS Concierge
    Guest
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    Hi RiotPlan,
    Nice to hear from you, and you raise some valid points.

    As a newbie, we’d love it if you’d head on over to this section of the forum and introduce yourself so we can learn a bit more about you and your business: http://www.flyingsolo.com.au/forums/new-member-introduce-yourself/

    Thanks for joining in!
    Jayne

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