Business plan, Business Plans London, Business Plan Writing Services London, Startup Business Plan, Startup London

Key Elements Overlooked in a Business Plan

There are a number of elements to a business plan, some of which can easily be overlooked. Two key sections in a business plan which often do not receive enough attention are The Team and Obstacles/Risks. In order to ensure the business plan includes all of the vital elements, each with the appropriate focus, a startup can look to use a business plan writing service which utilises the expertise of experienced consultants.

The Team

Many articles on the success of a startup focus on the entrepreneur, the founder of the startup. They focus on the need for the entrepreneur to be driven, passionate and tenacious. However, every single individual in a startup team is just as important in the recipe for success and the team as whole needs to be a focus in the business plan.

Hiring the right people for a company is widely seen as the key to building a startup with a prosperous future. Companies are only as good as the people that work for them, and this means employing people that are both good at, and enjoy their job (the two usually come hand-in-hand), no matter what their position or seniority. It’s surprising when a company doesn’t focus on hiring the right people at all levels in the company. Especially as the employees filling the more entry level jobs can sometimes be the most visible to the customer, for example with restaurants and telecom companies.

It is vital to hire people who are self-disciplined and committed to focusing on making the startup successful. With disciplined, content employees, there is less need to find ways to motivate and incentive behaviour, therefore leaving more time for energy to be focused on taking the company to the next level. That’s why many VC’s state that one of the single most important factors in a startup and in a business plan is the team.

The expertise and experience of consultants at a company offering a business plan writing service can help identify the vital strengths and different skill sets needed within a team in order to maximise the success of the startup. The in-depth plan produced by a business plan writing service will ensure the team covers all of the necessary roles and responsibilities and will ensure this section of the business plan is not overlooked.

Obstacles/Risks

A Startup needs to confront obstacles and the reality that things may get in their way. When launching, it’s easy to think that your company is so unique that it won’t face any difficulties or complications. Using a business plan writing service will help identity difficulties as the writing service will not be as emotionally attached and therefore, the writing service will not be as blinkered to risks.

A Startup needs to be fully aware of any obstacles in order to address them, and it is essential that these are included in a business plan. A company cannot succeed and make plans for the future unless it is fully honest about its weaknesses and threats.

As a startup, the feeling of hearing how amazing everything is and how bright the future is, is a gratified one. However, long-term this is only detrimental. It prevents the startup from confronting the facts and challenges that present themselves (and there will be such things in every startup). Honesty is worth the trouble. One of the key parts of a business plan is uncovering any fatal flaws which can often result in the need for a change in the original intended direction.

That being said, the key is to not only be aware and work out a strategy for overcoming these real or potential obstacles, but to maintain belief that these obstacles can in fact become a benefit to your company.

In-depth market research and data can be obtained by a business plan writing service. This business plan writing service can then use this research to help analyse where the opportunities and threats lie.

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