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5 Reasons Why You Should Do A Business Plan Review

Interested in doing a business plan review? Get Started on your business plan by downloading Small Business BC’s Business Plan Template and Cashflow Forecasting Tool.

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Every entrepreneur understands the value of a well-crafted business plan. It’s an invaluable roadmap for launching your business, and something you’ll use to impress banks and investors. The ideal business plan should be short and concise, but you can become so invested in the process that it can be easy to miss the forest for the trees. This is why a business plan review can make a key difference to your start-up.

Business Plan Review

Plenty of services exist that will offer to write your business plan for you. However, nobody knows your business idea as well as you do. It’s important you write the business plan yourself so you can think critically about every aspect of the business. Once completed, a reviewer will ensure you’ve produced a quality document that stands up to scrutiny and meets the requirements of those who will be reading your plan. Having your plan reviewed is an incredibly important step in the business plan creation process, and here’s five reasons why.

Validation

A business plan review presents the perfect opportunity to discuss your strategies, plans, and goals with a professional who has ample experience in producing successful documents. You’ll hear objective feedback on your idea, have flagged any potential challenges you may face, and see if your plan is missing any essential information about your business idea that you may or may not have yet considered.

A Test for Your Pitch

The ability to pitch your business is a core skill for any aspiring entrepreneur. At its heart, a business plan represents an in-depth pitch. Knowing your business plan inside out will foster confidence among any investors you meet. Having it undergo a review amounts to a ‘stress test’ for your business plan.

Is Your Business Model Viable?

No matter how passionate you are, it will take real money to sustain your business. Can you show how your business will generate cash over the next six to 12 months? A business plan reviewer has been there and done that. They’ll be able to identify gaps in your numbers, ways you can adjust, or any small details you may have missed.

What to Tackle First

No matter how strong your plan is, it’s likely to present several issues when you take a second look. An experienced reviewer can clearly identify which of these issues you should tackle first, enabling you to organize your plan into a presentable state as quickly as possible.

Business Plan Review Provides Clarified Decisions

Entrepreneurship is said to be a lonely endeavour. You’re responsible for the success and failure of your enterprise, and it represents a lot of pressure on your shoulders. Getting your business plan reviewed lets you share and discuss your options and plans with an expert. They can provide the pluses and minuses of each of your choices, helping you to evaluate your decisions objectively. Once you’ve taken their recommendations on board, you can come to an informed decision.

Where to Get A Business Plan Review

No matter where you are in the business planning process, Small Business BC’s consulting and review service can help you. Work with our expert business plan advisors, Dylan Hrycyshen and Laura Aveledo, and get the professional advice you need to make your business idea a reality.

Get Started on your business plan by downloading Small Business BC’s Business Plan Template and Cashflow Forecasting Tool.

Download Now

Here to Help

No matter what stage of business, or what problem you face, Small Business BC offers a range of seminars and one-on-one advisory sessions to suit any business.

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