Time2Market Business Development Coaching & Consulting

Start Up Business Planning

This past week, two separate entrepreneurs asked how much time and expense should be designated for business plan development?

There are no hard and fast rules regarding this. Business planning time can range from a few weeks to many months, depending on the complexity of the business, type of business plan being developed, timing requirements for the documentation, etc. Similarly, planning costs can range from very little to tens of thousands of dollars, again depending on the above, as well as the resources available to help you...

This past week, two separate entrepreneurs asked how much time and expense should be designated for business plan development?

There are no hard and fast rules regarding this. Business planning time can range from a few weeks to many months, depending on the complexity of the business, type of business plan being developed, timing requirements for the documentation, etc. Similarly, planning costs can range from very little to tens of thousands of dollars, again depending on the above, as well as the resources available to help you...

As this relates to small business and entrepreneurs, business planning may be performed by an employee, venture participant, or a hired consultant. For an outside expert to draft a good business plan, in say 80 hours - spread out over a few or many weeks - the professional needs strong business experience and knowledge, business planning tools, such as research resources, planning software and/or templates. Also, to execute in this rapid timeframe, entrepreneurs, business owners and management need to have thought through the plan quite thoroughly. Finally, they must be forthcoming with information gathered to date and be available to work on the project as needed within the agreed upon timeframe.

In some cases, business planning goes on over many months - sometimes over six to nine months - until project and/or business funding is secured.  Good business planning can be done in tandem with initial business development in order to evaluate opportunities and validate ideas.  Formulating and executing plans simultaneously is Time2Market's preference for fast and effective business development results. To learn more, e-mail us or visit Business Coaching and Consulting Services.

This past week, two separate entrepreneurs asked how much time and expense should be designated for business plan development?

There are no hard and fast rules regarding this. Business planning time can range from a few weeks to many months, depending on the complexity of the business, type of business plan being developed, timing requirements for the documentation, etc. Similarly, planning costs can range from very little to tens of thousands of dollars, again depending on the above, as well as the resources available to help you...