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Experienced consultants, strategic advisory process, fully customized. no templates., cost effective & results driven, over $1 billion in funding raised, growth strategy implementation, market research access, best quality, competitive pricing, award winning service, get your free business plan writing proposal, what you'll get:.

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• Custom Marketing Advice
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• Why We Are The Best Choice
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Our Sample Business Plans

No other business plan writer can match our quality, detail and price. Check out one of our business samples for yourself.

Expert Business Plan Writers For Hire

Our experienced business plan writers have written thousands of business plans. You’ll work with a professional plan writer who will build a custom business plan for your unique industry.

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What You'll Get In Your Free Proposal

• Business Plan Review​

Get Started with America’s Best Rated Business Plan Writing Service.

Schedule your consultation and see why thousands of small business owners trust Go Business Plans with their business planning.

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What Can Our Business Plan Writers Do?

Our business plan writers can handle all aspects of your business plan, from research and writing to business model consulting and operations planning. Let us help put your best foot forward with a comprehensive, well-researched, and expertly written business plan.

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Business Plan Writing Service

Maximize your chances of getting funded

Our business plan writers develop plans that can help you win funding.

What you can expect working with our Team:

Business planning pros

You’ll work with a professional plan writer who will build a custom business plan for your unique industry

The #1 planning tool

Get free access to LivePlan software, which makes it easier to share and update your plan

A winning format

Our unique business plan format has helped over 1 million businesses

Expert business plan writers for any type of business

Business plans for startups

• Establish milestones to achieve success.
• Outline accurate startup costs.
• Fully establish the vision for your business.

Pitching to investors

• Plans are formatted to meet lenders' expectations.
• Ensures your projected financials are realistic.
• Be prepared with a strong plan to back up your pitch.

Retail, eCommerce, restaurants and other popular industries

• Plan writers with experience and expertise in your industry.
• Insights into what details are vital to succeed in your industry.
• Develop a strong value proposition to stand out from the competition.

What makes our business plan writing services different?

Our business plan format has helped companies raise millions.

Our writers use a business plan structure that has been tested and refined over the past 20 years. So when you hire a LivePlan business plan writer, you'll be maximizing your chances of securing a loan or investment.

Business plan writers trusted by top business schools across the U.S.

Since 1988, Palo Alto Software—the creator of LivePlan—has helped over a million entrepreneurs achieve success. Our business plan structure is even taught at top universities, such as Princeton and Rice.

Get matched with a business plan writer who knows your industry

Our writers are experienced professionals who have written hundreds of business plans. That means there will most likely be someone on our team who has experience in your specific industry.

The best decision I could have made to launch my business in the right direction. I definitely recommend these services to entrepreneurs and future small business owners.

Melinda Holden

Elite Liason Consulting

Maximize your chances of securing funding

Hire a LivePlan business plan writer today

How the process works:

Research and discovery

We first gain an in-depth understanding of your business. Then, we begin market research and examine your growth drivers.

Plan Writing

Once our research is complete, we'll write the body of your business plan and provide you with a draft to review.

Financial modeling

We'll turn your financial assumptions into forecasts that include everything lenders and investors need to see.

Design and review

You'll get a polished business plan with a design that matches your brand. You can then print the plan or share it online with a unique and private link.

Thanks for your interest in Services offered by LivePlan.

At this time, we are only accepting requests from the united states and canada..

My plan writer was responsive, and understood my vision from our first communication. I now have a living document that I can use and manipulate as needed going forward.

Marcus Flowers

TimeOut Sports Bar & Grill

Frequently Asked Questions

Business plan writing help and services for hire, will you review my plan and make changes.

Our review-only service just includes feedback, but if you decide you'd like to engage in our full plan writing service after participating in a review, we'll give you a discount.

What if I already started writing my plan?

If you have a partially completed plan, we can work with that. In fact, it helps the plan writing process go faster because we'll have to ask fewer questions, but you'll want to choose the full business plan writing service.

Do you do market research? What does that include?

Yes, we do market research. We have access to industry reports for most industries and we will use them to lend more credibility to your plan and validate the assumptions we are making in your financials.

What is included with the full plan writing service?

When it's all said and done, you'll have a full, lender or investor ready business plan, a one page pitch, and a free year of LivePlan so you can make changes to your plan as well as use our cash flow and business management tools to stay on track.

Can you guarantee that my business will get funded?

There are a lot of factors that go into the decision making process for lending that are beyond our control, like your personal credit. What we can say is that it is very difficult to get funding without a solid business plan and we make solid business plans.

Will you share my information?

We take your privacy very seriously and will not share your information.

How long will it take to finish my plan? / Do you offer an expedited service?

The average business plan completes in 3-6 weeks, depending on your responsiveness to your writer and our work load. We offer expedited services if you are in a rush.

Yes, we can deliver an expedited plan in as little as two weeks for an additional $1,000.

Does my business plan include financials?

What formats do you deliver in.

We deliver in PDF format, Word and we also give you access to edit your plan in a free LivePlan account.

How many pages is the average business plan?

We subscribe to the lean business planning method so we try to keep your plan short and to the point. Depending on the complexity of your business, your finished plan can end up being anywhere from 25-50 pages.

Pricing and Options

How much does this service cost.

The full plan writing service cost can vary depending on your needs. Book a call with us to request a quote. We also offer a lower cost business plan review service and a forecasting service.

Do you offer a la carte services?

We offer a review service (feedback only, no edits), forecast only service or full business plan writing service. If you have a partially completed plan, we can work with that, but you'll want to choose the full business plan writing service.

Do you offer a review service?

Yes. One of our business planning experts can review your plan and financials line by line and give you critical and constructive feedback to help improve your plan and increase your confidence when it comes time to deliver.

Do you offer an expedited service?

What if i don't like my plan.

You'll have the opportunity to review and leave feedback after each draft. We recommend taking the time to be thorough and thoughtful in your feedback as that is your chance to help mold your plan into something that really resonates with you.

Expert Plan Writers and Consultants

Who writes my business plan.

You will be paired with one dedicated individual from our small team of highly trained and experienced business planning professionals. Each one is a uniquely qualified business planning expert who can translate your ideas into a business plan that will appeal to your audience.

Is my plan writer an expert in my industry?

Our business plan writers are experts specifically in business plan writing. We've worked with every industry imaginable so the likelihood that they have some familiarity with your industry is high, but if you are looking for a business consultant this may not be a good fit.

What kind of background will my writer have? Are they outsourced from other countries? Have they been writing business plans for very long?

We are a small team of well educated business planning experts. Each writer's background varies but they all have financial or business education as well as years, small business management or consulting and business plan writing experience. They are all well vetted and really good at what they do, which is write plans that help you get funded.

Small Business Definitions

What is a business plan.

In its simplest form, a business plan is a guide—a roadmap for your business that outlines goals and details how you plan to achieve those goals. At its heart, a business plan is just a plan for how your business is going to work, and how you're going to make it succeed. Read our full article on "What is a business plan" here.

What is in a business plan?

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally only one to two pages. Most people write it last, though.

The opportunity section answers these questions: What are you actually selling and how are you solving a problem (or "need") for your market? Who is your target market and competition?

In the execution chapter of your business plan, you'll answer the question: how are you going to take your opportunity and turn it into a business? This section will cover your marketing and sales plan, operations, and your milestones and metrics for success.

Investors look for great teams in addition to great ideas. Use the company and management chapter to describe your current team and who you need to hire. You will also provide a quick overview of your legal structure, location, and history if you're already up and running.

Your business plan isn't complete without a financial forecast . We'll tell you what to include in your financial plan, but you'll definitely want to start with a sales forecast, cash flow statement, income statement (also called profit and loss), and your balance sheet.

If you need more space for product images or additional information, use the appendix for those details.

Read our full article "How to Write a Business Plan — the Comprehensive Guide" for more information, here.

Why is a business plan important?

There are many reasons why it is important to have a business plan. A business plan is essential if you're seeking a loan or investment, can help you make big spending decisions with confidence and is a solid foundation for ongoing strategic planning and prioritization. Read our full article on "8 Reasons Having a Business Plan is Important" here.

What is a business plan writer/consultant?

A business plan writer/consultant is a business and financial expert who can help guide you through the process of creating a business plan and do much of the labor involved in creating it. They will work with you to understand your business model, do market research, create financial projections and offer guidance as all of those pieces are brought together in a full business plan document.

How to pick a business plan writer/consultant?

Picking a business plan writer or business plan consultant is an important decision — you'll want to find someone dedicated to your success, with experience in your industry or field and that is in it for the long haul. Read our full article on "Things to Look for When Hiring a Business Plan Writer" here.

Why should you pay someone to write your business plan?

You don't have time. Starting a business is time consuming. Oftentimes people have to juggle a regular 9-5 job while working on starting their business. That doesn't leave a lot of time for a big writing project. Hiring a professional to write your business plan can help you give you time to focus on the tasks that are critical to getting your business off the ground.

You want to make sure it is done right, the first time. You only get one chance to make a first impression. Hiring a professional to write your plan for you can give you the peace of mind that your plan is the best it can be when you present it to potential lenders or investors.

How to Find a Business Plan Writer for Hire

Written by Dave Lavinsky

If you’re thinking of hiring a business plan writer , congratulations! You’ve made a smart decision. A business plan is essential for any startup and can be critical for established businesses as well. But many entrepreneurs do not have the time or skills to write one themselves. That’s where a business plan writer comes in.

In this article, we will explore how to find someone to write your business plan and why it’s worth taking the time to do so.

Before You Hire

There are a few things to consider when looking for a business plan writer. The first is whether or not you need one. If you have a clear idea of your business and what you hope to achieve, you may be able to write a basic plan yourself. However, if you’re not sure where to start or what to include, it’s worth hiring someone to help you.

Another thing to consider is your budget. While some business plan writers can be expensive, there are also many affordable options available. You’ll need to decide how much you’re willing to spend on this service before you start looking for providers.

If you need a business plan to secure funding, you may also want to consider working with a business plan consultant. These professionals can help you create a plan that is tailored specifically to your needs and meets the requirements of potential investors.

Once you’ve decided that you need to hire a writer, the next step is finding an experienced writer that fits your budget.

Qualities of a Great Business Planning Consultant or Writer

Not all business plan writers are created equal. Here are some qualities to look for during your search for a professional business plan writer:

• Experience and credentials . Look for a writer with experience in your industry or sector. They should also have excellent business planning credentials, the ability to create realistic financial projections and be able to provide samples of their work.
• Good communication skills . The best business plan writers are good communicators who can understand your needs and work with you to create a solid business plan that meets your specific requirements.
• Excellent writing skills . The writer should be able to write clear, concise, and well-organized business plans that are easy to understand.
• Personalized service . A good business plan consultant will take the time to learn about your business and develop a plan that is tailored specifically for you.

Research & Hire a Business Plan Writer

Now that you know what to look for, it’s time to start your search for a writer that meets your business needs. Here are a few tips to get you started:

• Do your research . There are many business plan writers available, so it’s important to do your research before making a decision. Start by reading reviews and looking at samples of their work.
• Get referrals . Ask friends, family, and business associates for recommendations. If you know someone who has used a business plan writer in the past, they may be able to provide you with a good referral.
• Check credentials . Once you’ve found a few writers that you’re interested in working with, take the time to check their credentials and experience. Look for writers with relevant experience in your industry or sector.
• Get a quote . Once you’ve found a few qualified candidates, get quotes from each one. This will help you compare pricing and decide which writer is the best fit for your budget.
• Hire the right writer . Once you’ve made your decision, it’s time to hire a business plan writer. Be sure to provide them with as much information as possible, including your specific requirements and goals.

By taking the time to find the right person and providing them with the necessary information, you can ensure that your business has a well-crafted plan to guide it through its early stages.

Benefits of Hiring Someone to Write Your Plan

Hiring a business plan writer can be a great investment for your business. Here are some of the benefits:

• Savings in time and money . A business plan writer can save you a lot of time and money. They can help you avoid common mistakes and ensure that your plan is well-written, concise, and complete.
• More likely to secure funding . Investors and lenders are more likely to take your business seriously if you have a professionally written business plan. This increases your chances of getting the funding you need to grow your business.
• Improved chances of success . A well-written business plan can help you to achieve your business goals and increase your chances of success.
• Peace of mind . Knowing that you have a solid business plan gives you peace of mind and allows you to focus on what you do best — running your business.

The Bottom Line

Hiring a business plan writer can be a great investment for any business. They can help you create a plan that is tailored specifically to your needs, and their experience and credentials can help secure the funding your business needs to succeed. So if you’re thinking of hiring a writer, find a writer that meets the criteria listed above and get started on developing a plan for your business.

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Hire the Top 3% of Freelance Business Plan Consultants

Toptal is a marketplace for top business plan consultants and experts. Top companies and startups hire freelance business plan consultants from Toptal for their mission critical projects.

No-Risk Trial, Pay Only If Satisfied.

Trusted by leading brands and startups

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Hire Freelance Business Plan Consultants

Aleksey N. Krylov, CFA

Aleksey served in CFO roles of public and VC-backed private companies. As an investor, he contributed to 25+ private equity deals that have deployed $500 million. He has advised 50+ clients on raising $1.6 billion in equity in the healthcare, consumer, media, software, energy, and industrial sectors. Aleksey enjoys working with officers of early-stage and mature small-cap firms, and he freelances because it exposes him to a wide range of companies.

Previously at

Ftera Advisors

Gary Calnan

Gary is a serial entrepreneur with CEO and CFO experience. Before co-founding an aerospace startup in 2017, Gary was the director of finance at a $120 million revenue SaaS company, where he was responsible for the financial management of multiple departments and supported three mergers. Gary leverages his unique blend of finance and entrepreneurial experience across early and growth-stage businesses to add value to Toptal clients.

CisLunar Industries

Marc Howland

Marc is a Harvard Business School graduate with honors, a former investment banker from Goldman Sachs, and private equity investor at The Carlyle Group. He has helped execute more than $70 billion worth of global M&A and financing transactions in the tech, media, telecom, infrastructure and sports facility finance markets. Marc enjoys freelancing to contribute his knowledge and skills to others while working on his own early-stage ventures.

Keyturn Pbc

Travis Borden

Travis was part of the founding team at Moelis & Co., a $2.5 billion global investment bank, and has 18 years of experience advising clients on $40+ billion of M&A, capital raising, and restructuring transactions. In 2015, he founded a socially responsible advisory firm, Keene Advisors, named "Best for the World" 2017-2019. Travis joined Toptal to expand his network and share his expertise advising companies from startups to Fortune 500 firms.

Keene Advisors

Andy Vietor

Andy was recognized twice as an All-Star Analyst by the Wall Street Journal. He has been a strategist, operating executive, financier, and top-ranked industry analyst. As a freelancer, Andy advises a range of companies—from early-stage and middle-market to large caps—delivering customized solutions including effective investor presentations, dynamic financial models, and project finance structuring.

Hamilton Clark Sustainable Capital, Inc.

Bertrand Deleuse

Bertrand is a 25-year finance veteran with a true 360 experience, honed as an investment banker, venture advisor, project developer, CFO, and expert witness consultant in international arbitrations. He has advised and partnered on over 100 transactions and investment initiatives totaling over $16 billion. Bertrand is a seasoned problem solver and decision-maker with expert facilitation skills. Bertrand advises on M&A, corporate development, venture growth, project development, and financing.

Quadrant Economics

Olivia Passoni

Olivia has over a decade of advisory experience, specializing in valuation, financial and business planning, M&A, capital raising, and due diligence. She has advised business owners globally on financial planning and strategy optimization during the fundraising and exit process. Olivia also works with investors for portfolio valuation work, the development of fund models, and due diligence. She is a Certified Valuation Analyst and is specialized in early-stage valuations.

Valithea OÜ

Andrew Grigolyunovich, CFA, CFM

Andrew ranked fifth at the 2017 Financial Modeling World Championships. He served as CFO for Latvia’s leading retailer for seven years, navigating the firm through the global financial crisis and executing a turnaround that led to profitability and international expansion. He went on to freelance consulting, growing his client base to 250+ in 17 countries. Andrew joined Toptal to work with clients on FP&A, financial modeling, and M&A.

Toptal Clients

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98% of Toptal clients choose to hire our talent after a risk-free trial.

Toptal's screening and matching process ensures exceptional talent are matched to your precise needs.

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Our clients frequently pair these additional services with our freelance Business Plan Consultants.

A Hiring Guide

Guide to hiring a great business plan consultant.

Business plan consultants have the industry knowledge and expertise to develop a business plan that maximizes your company’s potential and attracts investors. This guide to hiring business plan experts offers insight into best practices, skill requirements, job description tips, and interview questions and answers to help you identify the best candidate for your needs.

... allows corporations to quickly assemble teams that have the right skills for specific projects.

Despite accelerating demand for coders, Toptal prides itself on almost Ivy League-level vetting.

Pete Pellizzari

Romy Parzick

Doug MacKay

Founder / CEO

Chris Pozek

How to Hire Business Plan Consultants Through Toptal

Talk to one of our industry experts, work with hand-selected talent, the right fit, guaranteed, find experts with related skills.

Access a vast pool of skilled finance experts in our talent network and hire the top 3% within just 48 hours.

How do I hire a Business Plan Consultant?

To hire the right business plan consultant, it’s important to evaluate a candidate’s experience, technical skills, and communication skills. You’ll also want to consider the fit with your particular industry, company, and project. Toptal’s rigorous screening process ensures that every member of our network has excellent experience and skills, and our team will match you with the perfect business plan consultants for your project.

What do I need to look for when I choose a business plan consultant online?

Do not hire a business plan consultant online without interviewing them at least once, ideally via video conference so you can evaluate your rapport with them. It’s critical to ask them questions about your industry, their industry-specific experience, and their thoughts on current trends—all elements you can’t gauge from an online résumé. In addition to evaluating their experience and knowledge, it’s important to validate it through examples of work products and references.

How do I choose between two quality business plan consultant candidates?

When you have two highly qualified consultants vying for an engagement with your company, compare their skills with your internal capabilities and select the consultant who best complements the skills you and your team have. You’ll also want to consider their interpersonal skills and general fit with your preferred ways of working. Your objective should be to hire the consultant who rounds out the most capable team you can create to develop your business plan.

Do I need to hire a business plan consultant?

You should strongly consider hiring a business plan consultant. Business plan professionals offer significant benefits through their expertise and unbiased point of view. They’ll stress-test your current plans, identify potential risks and growth opportunities, provide a market analysis and industry insights, and ensure that your business plan is credible, positioned to maximize your company’s potential, and appealing to investors.

Who are business plan consultants and how do they add value?

A business plan consultant is a highly qualified individual who combines the skills of a management consultant and a CFO to advise and assist management teams of businesses of all sizes. Beyond creating business plans, they can assist with a number of projects, including market sizing; go-to-market and customer acquisition strategies; pricing and monetization planning; and fundraising strategy. Additionally, they can help you produce a pitch deck, board presentations and presentation materials, research and market reports, financial models, analyses, forecasts, and more.

How are Toptal business plan consultants different?

When you hire a business plan consultant with Toptal, you’ll always work with world-class, custom-matched business plan consultants ready to help you achieve your goals.

By Nicholas Piscani

Nicholas is a corporate strategy and FP&A expert who works with businesses to optimize their operations and execute high-priority strategic initiatives. He has helped entrepreneurs raise more than $600 million.

How to Hire Business Plan Consultants

Every company needs an effective business plan to maximize its potential.

A comprehensive business plan details a company’s present and expected future status and needs in order to guide strategic decisions and resource requirements. Research has shown that, historically, companies with business plans have grown 30% faster than those without them and that companies with business plans have been nearly twice as likely to receive funding. That’s because potential investors and investment banks often won’t take your business seriously without a comprehensive business plan.

While business plans are proven to maximize potential at all stages of maturity , many business leaders fail to develop or execute them. They may believe it isn’t worth the investment, or they may be overwhelmed by the number of steps involved and the amount of information required to get started. Other business owners may attempt to develop such plans without external assistance.

However, many company owners do recognize that specialized skills are required to maximize the impact of a business plan and to develop a complementary pitch deck for potential investors. These executives typically hire a business plan consultant to guide them through the entire strategic and business planning process. This hiring guide offers insights into how to select and hire a business plan consultant who can advise and collaborate with you to deliver the business plan you need.

What attributes distinguish quality Business Plan Consultants from others?

Above all else, quality business plan consultants have business planning and industry-specific experience. Typically, more experience equals more expertise, but don’t get caught up in thinking about experience only in terms of years. Once a professional business plan consultant has five or more years of experience, other factors, such as the number of business plans written and the number of successful funding rounds they’ve been involved in, are more important.

When selecting a business plan advisor, it’s important to find someone who develops complete business plans frequently, has a strong track record of success, and has specialized industry experience relevant to your business. For example, the core components of business plans in healthcare and construction may be similar, but industry-specific knowledge adds significant credibility when detailing the organization’s strategic direction, financial plans and models, and resource requirements.

Quality business plan professionals provide clear and concise guidance, and work with you and your management team to develop primary and contingency strategies. The consultant should be able to collaborate effectively during the planning process and illuminate potential shortcomings and pitfalls of an existing or new plan. While they may use a standardized template for creating business plans, the consultant should be willing and able to customize the plan to meet your organization’s specific needs.

How can you identify the ideal Business Plan Consultant for your business?

The ideal business plan consultant will possess a mix of hard and soft skills across multiple business areas so that they can skillfully craft a successful plan and pitch deck. The best business plan consultants have these complementary skills:

Industry knowledge – The business plan consultant best suited to help your organization will have solid industry knowledge and significant experience working with other companies in your sector. Understanding the industry, its competitive landscape, significant trends, and market segments is critical to developing an effective business and marketing plan.

Market research and analysis – This skill is required to establish accurate estimates of the total market, total addressable market, serviceable market, and obtainable markets. Business plan consultants need to gather and analyze significant amounts of data, interpret the results, and derive target markets and market-share goals for your company.

Financial modeling and forecasting – In addition to validating existing financial plans, the business plan consultant should be able to provide insight into current and alternative pricing strategies for revenue growth, understand whether capital and resource assumptions are valid given industry-average and best-in-class capital efficiencies, and confirm that margin expectations are reasonable given other operating assumptions. In-house financial analysts may be able to help fill this need with guidance from the expert business plan consultant you hire.

Data analysis and visualization – A quality business plan consultant should be able to compile and analyze all the inputs your organization provides and use them to create the components of the plan. This should include a go-to-market strategy that highlights your value proposition, identifies how you’ll reach your target market(s), and convinces investors that your organization has significant growth potential.

Presentation skills and storytelling ability – An underrated but essential value that a business plan consultant can bring is the ability to take all the individual components of the plan and weave them together into a compelling, original story that creates stakeholder buy-in and investor interest.

In addition to the aforementioned important capabilities, the best business plan consultant for your company should demonstrate the following soft skills:

Communication – The consultant should be able to distill complex ideas into accessible concepts to ensure understanding among stakeholders, investors, and employees. They should also be willing and able to ask hard questions and challenge assumptions.

Organization – The business plan expert needs to gather, analyze, and organize extensive data and other inputs from multiple sources. This requires impeccable organization and attention to detail.

Critical and strategic thinking – A quality business plan professional can consider threats, present alternatives, and stress-test the business plan to ensure it is sound and considers all possibilities.

A business plan advisor who possesses these complementary soft skills is more likely to be highly effective and deliver a plan that generates a high ROI.

What criteria can hiring managers use to match Business Plan Consultants to their specific industry or business needs?

Hiring managers should consider these three critical criteria when matching business plan professionals to their specific industries and needs:

• Industry experience – Each industry has a unique environment, with unique relationships between the hiring company and its customers, suppliers, competitors, etc. Navigating different compliance requirements and barriers to entry requires specific knowledge. While there is no set requirement for years of industry-specific experience, three years is a sufficient minimum threshold.
• Financial acumen – The consultant should be able to build detailed, dynamic financial models that drive the business plan. Experience with three-statement modeling is ideal, as the consultant will need to understand how investment and operating plans impact cash flow, the balance sheet, and the income statement. The hiring manager should prioritize credentials such as advanced degrees and certifications pertaining to corporate finance, valuation, and modeling financial projections when evaluating candidates.
• Leadership experience – Hiring managers should look for a consultant with a demonstrated history of leading teams and stakeholders through strategic initiatives. At a minimum, consultants should have reached a managerial level with a focus on strategy and business planning. Director- and VP-level experience, along with a track record of successful consulting engagements, becomes more important as the scope and scale of the project at hand increases.

How to Write a Business Plan Consultant Job Description for Your Project

First, define the use case for the business plan and identify the industry in which your company operates. Clearly identifying the sector will help candidates self-select, minimizing the number of irrelevant résumés to review.

Next, specify the experience and any specializations you require. Some technical expertise may be optional: For example, it may not be as important for your business plan consultant to have in-depth financial modeling expertise—as long as that’s a strength of your internal team. On the other hand, your business plan consultant must have extensive knowledge about your industry and market segments.

Your job description should also take into account how far along your organization is in the strategic and business planning process. If you have many of the pieces in place and simply need a business plan professional to ensure you have a cohesive and compelling plan to present, you’ll require a different skill set than if you need a business plan expert to research, analyze, define, and document the strategic path forward.

What are the most important Business Plan Consultant interview questions?

As you prepare to interview your top candidates, you should already have a basic understanding of their experience and skills. During the interviews, it’s important to ask questions that get to the heart of what your organization needs and whether the consultant has the expertise to deliver an effective plan. These questions will help you evaluate and select the best business plan consultant for your situation:

How would you approach this project?

With this question, you’re looking for the consultant to explain how they would use internal and external resources to gather relevant information and craft the story that the business plan will tell as it relates to your specific case. Ideally, the consultant can identify external resources that will provide industry, competitor, and market insights, including potential environmental, regulatory, or legal hurdles and risks.

Can you share your thoughts on the industry’s current state and future outlook?

The consultant you hire should be well versed in your industry, its present state, and the key factors influencing its future. The success of a business strategy hinges on the quality of the market information, data, and insights the expert has access to, and how they will use that information to guide the plan. A qualified business plan professional will be able to discuss total market size, growth rates, key competitors, and significant trends. Their answer should leave you confident that the candidate has the industry experience and knowledge you require.

Can you share specific examples of successful business plans you’ve developed?

The answer to this question should demonstrate how the candidate has applied their expertise in previous engagements or corporate roles. Although the consultant may be able to effectively explain their approach, specific examples will confirm they have the experience and capabilities to deliver what you need. Ask them to define the qualities of a successful engagement to be sure your expectations are aligned.

How do you ensure that a business plan is adaptable and remains relevant?

The last thing you want to do is lead your business down a path that reduces or eliminates agility. The consultant should highlight specific tools, such as scenario and sensitivity analyses, that can be used to develop contingency plans should the primary strategy shift because of changes in the market. The most qualified consultants should be able to identify gaps and trends in the market and suggest potential strategies and technologies to address them.

Additional questions to ask include how the consultant would communicate with you and your internal teams, how they handle disagreements among principals about the strategic direction the organization should pursue, and what, if any, special research and analysis they might perform for this engagement.

A well-rounded business plan consultant will answer your questions in ways that leave you feeling confident in their ability to successfully execute the project and deliver an effective custom business plan that maximizes your company’s potential and attracts investors.

How can a hiring manager ensure the confidentiality and security of sensitive information during the hiring process, especially when sharing business plans or proprietary data with candidates?

Hiring managers and recruiters can take decisive actions to protect their company’s confidential information during the hiring process. These include:

• Requiring candidates to sign nondisclosure agreements before they receive sensitive materials.
• Conducting thorough background checks to verify candidates’ credibility, trustworthiness, and adherence to data security protocols.
• Using secure document-sharing platforms or virtual data rooms with access controls, encryption, and audit trails.
• Using secure communication channels, such as encrypted email services or secure messaging platforms, when sharing sensitive information.

Why do companies hire Business Plan Consultants?

Business plan experts can deliver tremendous value to companies that are developing business plans to guide strategic decisions or pursue funding. While founders and employees may have a significant grasp of the company, its strategic direction, and its business goals, they may not have the expertise to craft a compelling business plan and pitch deck that attracts investors.

One of the quickest ways to lose the interest of potential investors and partners is by presenting a business plan that comes across as disorganized and fragmented. Business plan advisors with extensive experience dealing with investors solve this problem for their clients. They have the well-rounded business background and skill set to contribute and add value to the entire strategic planning process. They have the capability to propel a business forward by weaving a company’s market data, industry trends, business strategy, business goals, and resource requirements into a compelling story for stakeholders and potential investors.

While many business owners develop business plans without external assistance, hiring a business plan consultant can significantly increase the quality and credibility of a business plan, its likelihood to maximize business success, and its ability to attract investors.

Featured Toptal Business Plan Publications

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Top Business Plan Consultants Are in High Demand.

10 Places to Find Business Plan Writers for Hire

• Sam Swanson
• August 30, 2021

If you need to hire a business plan writer, you’re in the right place. In this guide, we have investigated and reviewed the 10 best places online to find and hire a business plan writer.

Why hire a business plan writer?

A business plan helps you write down and publish a road map for where your business is going and how it is going to get there. To make your business plan stand out and get read it needs to be written in a professional yet engaging way.

One of the best ways to ensure you have a great business plan is to hire an experienced business plan writer. But the hardest part is working out where to find one. That’s why we created this guide.

Here are the ten best places to hire a business plan writer.

1. Writing Studio

Writing Studio is a content writing company that helps companies to produce detailed and engaging business plans. Our expert writers have experience writing business plans across multiple industries and will ensure you receive a high-quality business plan that gets read, and more importantly, gets results.

Writing Studio offers competitive content writing prices  within the industry. If you require a business plan to be written we can provide you with a detailed custom quote after a free, no-obligation consultation.  

When you work with Writing Studio you’ll work with a dedicated client manager who will oversee your business plan writing project and ensure you’re 100% satisfied with the end product.

Upwork is one of the largest platforms online to find a writer to outsource your business plan writing to. You can either post a project and freelancers will send you proposals to write your business plan or you can search for writers who specialize in writing business plans and hire the best one for your specific job.

Upwork has thousands of writers on their platform so you’re likely to find a writer who has experience writing about your industry and has a portfolio of past business plans they have written. Each freelancer on the platform also has a star rating which makes sorting through the applicants much easier. 

The major downside of Upwork is that you’ll have to manage the project yourself and you might have to hire an editor to double-check the freelancer’s work. Writers on Upwork charge between US$15 per hour to US$80 per hour depending on how experienced they are.

3. MasterPlans

MasterPlans.com is a business plan writing service with more than 18-years of experience writing plans for over 18,000 clients.

The company can help you with every aspect of your business plan and tailor it for the audience it is intended for. For example, if it is for a bank, they will tailor it for a lending manager to read.

Using their service is simple, you just need to go to their website and request one of their expert team members to contact you. They will then give you a free consultation so you can explain your specific needs and they can explain how their service works and give you a quote customized to your needs.

4. Wise Business Plans

WiseBusinessPlans offers more than just a simple business writing service. They will also work with you to help create financial modeling and other business consultancy services. According to the company they hire writers with MBA’s and decades of experience writing business plans.

To get a free consultation with one of their reps you can give them a call or book one online. Of all the business plan writing services and places to find writers on our list this company is likely to be one of the more expensive, but the upside of working with a dedicated business plan writing service like WiseBusinessPlans is that you’ll be able to work with some very experienced business plan writers.

5. LinkedIn

LinkedIn is a professional social network used by hundreds of millions of people worldwide – including many professional writers with experience writing business plans.

To find a business plan writer on LinkedIn you can post a job ad for free. Applicants with relevant experience can then apply for the job. Once you get a good pool of applicants you can create a shortlist and then conduct interviews. After a round of interviews, you can then select the best candidate and offer them the job.

The main benefit of LinkedIn is that you can access millions of potential candidates and it’s free. The downside of using LinkedIn to find a business plan writer is that you’ll have to vet the candidates and then manage the project yourself with the writer you hire.

Fiverr is another large online freelancer marketplace where you can find great business plan writers. Much like Upwork, you can search for writers with specific experience such as writing business plans, and then contact your favorites or place a job advert and request writers send you a proposal. You can then hire the best writer, receive the completed project through the platform, and then make the required payment.

When hiring a business plan writer, you can expect to pay anywhere from $5 to $200 per hour. To make it easy for both parties you might be better off setting a project price that includes revisions so that both you and the freelancer will know upfront how much it will cost.

7. Pro-Business Plans

Pro-Business Plans is a specialist business plan writing company that has operated since 1999.

They can help you write multiple different types of business plans such as Start-up business plans, business plans for immigration services, business plans for small business loans, and many more.

Using their service is very easy. You simply go to their website and request a consultation. One of their sales reps will then contact you to explain how their service works. They will then provide you with a detailed and customized quote and if you’re happy with that they will go ahead and write your business plan.

8. LivePlan

Another good option when looking for a business plan writer is Liveplan.com . The company provides both a software platform to write your own plan or you can hire a writer through the platform to do it for you.

According to their website, they have writers on their platform who can write business plans for numerous different industries.

To use their service, you go to their website and then enter the details of your business plan you need to be written, and they will then contact you and match you with one of their writers. When you work with LivePlan you’re looking at paying between $2000 and $3000 for a business plan to be written.

Indeed.com is one of the world’s largest online job websites. To use their service you sign up on their website and can then post a job advert with all of the details of your business plan writing project. Once posted, writers with experience writing business plans will then send you an application for the job. You can then evaluate all of the applicants and select the one most suited to your needs.

Overall, Indeed.com will put you in touch with a large number of applicants but the major downside is you’ll have to spend the time to post the job, interview the applicants, and then manage them during the writing process.

10. Go Business Plans

Go Business Plans are a specialty business plan writing company based in California, USA.

They work with clients to create customized business plans for a range of different industries, including, the energy, real estate, education, e-commerce, and healthcare industries.

To use their service, you simply go to their website and fill out a form with your details, and they will then contact you and give you a custom quote.

The Bottom Line

There are many great places online to find a business plan writer. Your main consideration when choosing which service is how much you’re prepared to pay. If budget isn’t an issue, you are much better off going with a professional writing service and if budget is an issue, you’re better off using a freelance or job listing platform.

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Expert Business Plan Writers

For over 20 years, Growthink has been the nation’s leading business plan writing company.

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You’ve come to the right place!  Since Growthink was founded in 1999, we have provided business plan writing services for thousands of clients including startups, small business owners, nonprofit organizations and mid to large-sized companies. 

We understand that writing a business plan can be a time-consuming process for many entrepreneurs.  Hiring a business plan writer will allow you to quickly and expertly create a custom business plan.

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Call us at (800) 216-3710 or complete the form below and one of our business plan writers will reach out to you to schedule a time to speak about your business plan needs.

Business Plan Writing Clients

What is a Business Plan Writer?

A professional business plan writing service will understand the importance of market research, strategy, financial modeling, and business writing. They can offer guidance to business owners on how these aspects should be incorporated into a business plan that will be well received by investors.

The best business plan writer acts as a guide throughout the business planning process, helping large and small business owners tailor their business plans to the needs of a potential investor.

Business Plan Writer Qualifications

There are business plan writers with different qualifications, so entrepreneurs should consider the following factors when choosing a business plan writing service:

• Experience: What is the business plan writer’s level of experience in business planning, market research, and developing a financial plan with projections? You want a writer with a strong background in each critical area of business plan writing.
• Education: A business plan writer with a Master’s degree (or equivalent) in business administration or related field is preferred.
• Reviews: Does the business plan expert have any reviews from previous clients?

Why Not Write Your Own Business Plan?

While some companies can develop business plans on their own, most do not have time for this. Moreover, many business owners do not have the proper business writing skills to help convince their intended audience. For these reasons, business owners should hire a business plan writer.

A professional business plan writer will:

• Conduct market research for you
• Work with you to create the best strategies to grow your business
• Create financial projections
• Write your plan geared to your audience. Your audience could range from yourself, your team, partners, banks, angel investors, venture capitalists, etc. In any of these cases, when hiring someone to write a business plan, make sure they have a working knowledge of the needs of your intended audience in order to write a plan that appeals to them.

When to Hire a Business Plan Writer

If you are lacking time, and don’t have significant expertise in the four areas listed above, consider hiring a business plan writer.

The top business plan writers:

• Have a long track record of success in and outside of your industry (outside of your industry is most important as that allows them to give you strategic ideas that have worked well in other markets that can apply to yours)
• Can conduct market research and subscribe to market research databases that give them access to expensive industry reports
• Know how to create sophisticated and valid financial projections
• Understand the wants and needs of lenders, investors, and other audiences so they can tailor the plan according
• Can create a fully customized pitch deck to help you present your business plan to potential investors and lenders

Need Assistance Writing Your Business Plan?

Complete the form, or call us at:

(800) 216-3710

What our clients say.

Business Plan Writers FAQs

Who writes business plans.

The best business plans are written by consultants that have written numerous business plans and have continued to work with their clients long-term. Such business plan consultants have gained the experience regarding what aspects of their business plans resonated with investors and lenders and why their clients were successful or unsuccessful in growing their companies.

The best business plan writers often have a degree in business administration, a long track record of success writing business plans inside and outside your industry, and positive reviews from previous clients. Business owners who want to work with someone to write a business plan should consider whether they lack time, expertise in the four areas listed above, or both. Business plan writers for hire don't need to know everything about your business but should be able to conduct market research and create a sophisticated financial plan as well as know the wants of lenders, investors, and other audiences so that they can tailor the plan accordingly.

What is a business plan writer/consultant?

A business plan writer/consultant is an individual who has considerable experience and expertise in business and financial planning who can develop your business plan with you. Such a consultant is able to conduct market research, develop financial projections and work with you to figure out the best strategy to grow your company, and then package this information into a business plan that compels readers to take action.

Do business plan writers work with you on all business aspects, such as marketing and expansion plans?

Yes. A n experienced business plan writer will work with you on all aspects of your business such as marketing, expansion, and even exit strategy plans, but it also depends on the business owner's budget and needs. Please consult with a business plan writer to discuss the specific needs of your business.

How do business plan writers ensure they are meeting your needs?

They are masters of business planning and will work with you on all aspects of business, but it also depends on your business needs. For more information, please consult a business plan writer.

Why can't I just take the free business planning course online or read a book about it to write my own business plan?

Chances are, you don't have the expertise in all four business areas. For instance, you may have extensive experience in marketing, but less of an expert in finance or business strategy. By hiring a business plan writer, you can focus on what you do best while someone else takes on what they do best. This will save time and money for both parties involved while ensuring that everything is handled to make your business a success.

What are the 4 aspects of creating a great business plan?

A good business plan requires the following 4 strategic planning processes:

Market Research

You need to conduct considerable research in the following areas:

• Customer Research : learning about who your target customers are and their wants and needs
• Industry Research : identifying the size of your market and trends affecting it
• Competitive Research : figuring out your direct and indirect competitors and the strengths and weaknesses of each
• Financial Research : in-depth understanding of realistic growth rates and costs (salaries, etc.) so a realistic financial model can be created

Armed with the market analysis, you need to create the optimal growth strategies for your company . For example, if you identified an unmet customer need in your research, you should create strategies to capitalize on this opportunity.

Financial Modeling

Your financial modeling is perhaps the most important part of your plan. This section includes a projected income statement, cash flow statement and balance sheet.  Poorly reasoned financial models will dissuade most investors. Worse yet, if your financial forecasting calls for too much or too little funding, it will cost you dearly.

Business Plan Writing

The fourth aspect of a solid business plan is writing. While it’s important to be a good business writer, even more important is to understand the needs of the audience. For example, the world’s best writer probably hasn’t spent much time with venture capital firms . As a result, they have no idea what this audience wants, and would probably fail to write a professional plan that appealed to them.

The fully customized business plan should also include the following essential elements:

• Executive Summary
• Company Overview
• Industry Analysis
• Customer Analysis
• Competitive Analysis
• Marketing Plan
• Operations Plan
• Management Team
• Financial Plan

Should You Hire Someone To Write Your Business Plan?

I co-own a startup company recently founded between myself and a partner.  Neither of us have the core skills to write a clear and coherent business plan.  However, we have very forward vision, goals, built-up clients and community, a strong advisory panel and all around great prospects.  What would you advise we do, if not […]

I co-own a startup company recently founded between myself and a partner.  Neither of us have the core skills to write a clear and coherent business plan.  However, we have very forward vision, goals, built-up clients and community, a strong advisory panel and all around great prospects.  What would you advise we do, if not hire someone to write the business plan and do the projections?  

I put this question in the “check your assumptions category.”  I have yet to meet any entrepreneur that doesn’t “have the core skills to write a clear and coherent business plan.”  There are a wide range of “business plan writing” products – including many free or inexpensive web resources  or non-profit organizations such as SCORE that provide resources for small business owners .

Writing a good business plan is hard.  At one point, it was an entry point for discussion with most funding sources (angels and VCs).  Today, while a formal business plan is less critical to get in the door, the exercise of writing a business plan is incredibly useful.  As an entrepreneur, I was involved in writing numerous business plans.  It’s almost always tedious, time consuming, and difficult but resulted in me having a much better understanding of the business I was trying to create. 

While ultimately you can just hire someone to do this, I’d still suggest you check your assumptions.  I bet one of your advisors has one or more sample plans you can look at and would be willing to work with you to help you create a plan for your business.

September 7, 2011

What Should You Do When An Investor Asks You For A Business Plan?

Dan Shapiro has an excellent post up titled What to do when an investor asks you for your business plan. In it he addresses something we missed in Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist. In the section where we discuss business plans, we say: “We haven’t read a business plan in […]

March 3, 2007

How Do I Create Projections For My New Web Service?

Question: How do I come up with projections of a web service that is not being done yet?  I know make it up. Actually, please don’t just make it up. That’s a waste of your time.  In answering this question, I’m going to assume that you haven’t built your new web service yet and you don’t […]

January 19, 2009

Should I Send My Business Plan to a VC?

Q: I just read your column in the January Issue of Entrepreneur and I had a follow up question.  I am at the very beginning point of putting together my business plan.  I have just started writing it and am fleshing out exactly how I envision the company running and what customer base I would […]

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Can I Hire Someone To Write A Business Plan?

MD: Learn how our Business Plan Writers can help your business take off by drafting a business plan for you. When you think about it, it’s quite hard to imagine that someone can do a better job than you when it comes to writing a business plan for your new business.

In fact, you probably consider it your most precious asset and since you’ve done a lot in order to bring it to the point where it’s at today, you certainly don’t feel confident letting anyone else meddle with it. However, when hiring Wise Business Plans to write your business plan, you get a lot of advantages compared to writing a business plan on your own.

Read below about why it pays to hire someone to write a business plan.

Your Business Seen Objectively

Let’s face it: as a business owner, viewing your business objectively is just not possible. However , when you’ll hire a professional business plan writer , he’s going to take the time to learn more about your business, review your company’s plans and help you identify your pros and cons and how you can overcome obstacles. Having extensive experience writing business plans for all sorts of businesses, a professional business plan writer is going to put your company in the spotlight and help improve its revenue easier and faster than you thought possible.

Research is Crucial to Your Business’ Success

By researching not only your industry, but also your competition, demographics, consumer demand, and target market , a professional business plan writer can get his hands on vital information that can then be used in order to boost your business. By understanding how you can compete in your industry, especially in your niche, you’ll know exactly what steps you have to take to get more customers.

The Fear of Writing

In general, people are quite reluctant when it comes to writing just about anything, let alone writing a business plan . Generalized fear due to the fact that the subject is too complex for you, poor grades in English, and also bad experiences in school can make you feel quite afraid of taking this up on your own. In fact, this is such a great fear that a lot of entrepreneurs have given up on their ideas to create potentially highly successful businesses. On the other hand, when you let Wise Business Plans take care of this for you, your business plan is going to turn out perfect and be effectively used in order to get more funding and eventually help your business skyrocket.

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Award-winning business plans are written by professional writers. Wise Business Plans has MBA-qualified business plan writers.

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A winning business plan requires qualified writers. Experienced MBA-qualified business plan writers are available at Wise Business Plans.

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5 Tips Before You Pay Someone to Write a Business Plan for You

Before you pay someone to write a business plan for you, you want to check out five tips that we wrote to help you get the best business plan writing service.

When it comes to getting a great business plan from professionals, I recommend using LGS Consulting , they have top brands in their clientele including the VC of AirBnB.

1. Free Business Consultation

A good business plan is way beyond having words on paper. It should be able to help you achieve certain objectives.

These objectives may include:

• raising funds,
• serve as a blueprint,
• seek partnership,
• drive growth, etc.

Having a consultation before the business plan writing begins will help you establish the objectives that you want your business plan to help you achieve. In the words of Woodrow Wilson; “I not only use the brains that I have, but all I can borrow.” It is always a great idea to work with consultants you will share with you key tips to help you achieve your set business goals.

Sometimes people ask if it is good to pay someone to write a business plan or to write it themselves, well if you want to get the best, you will need an expert to help you, like they say “sometimes you only have one opportunity to make a good first impression with your business plan.”

2. Use A Service That Provides Revisions

You need to be sure that revisions would be supported before you pay someone to write a business plan for you.

Why is this important?  You must realize that business plans are not cast in stone if they were it would be difficult to make revisions or update it as your business grows.

During the business planning process, you may need to make some revisions, and this is absolutely fine.

But it is always a good idea to know if the business plan company that will be writing your business plan supports revisions.

Some business plan writing service would allow revisions to a certain number of times, after which any further revision would incur a little charge, and there are others that may give you unlimited revisions.

LGS Consulting is one of those companies that provide unlimited revisions with no additional charge.

3. What’s Their Track Record

You want a business plan writer that has a great record of writing professional business plans. Nobody wants to hire a novice to write their business plans. A very easy way to check their track record is to check their website!

Sorry if they don’t even have a website at this age and time!

So, check out their website and see if they have real testimonials . I use the word “real” because these days, it’s easy for people to give a false testimonial.

So check their website and be mindful to look out if the testimonials are from real organizations or businesses.

Once you are convinced about the testimonials on their website, then you can use the testimonial as a guide to know if the business plan writer is a good fit to write your business plan.

4. Delivery Time

The time delivery time for completing a business plan varies, depending on the nature of your business, the amount of research needed and the business plan company writing your business plan for you.

To avoid surprises, you want to be certain of the turnaround time.

And in a case where you have urgent need of a completed business plan, perhaps because you have a meeting scheduled with an investor; you want to communicate this ahead before you go ahead and pay someone to write a business plan for you.

But as a standard, between 10 to 21 days is a good turnaround time, however, if you need it earlier than that, you would have to communicate it to your business plan consultant to see if they can accommodate or expedite the business planning process for you.

5. Agree for a custom business plan

A custom business plan is one that is made solely for your business. And like you know, there are business plan templates almost everywhere you turn to, but the last thing you want is to have a business plan template used for your business plan.

You need a business plan that can express the uniqueness of your business, show your strengths, and can get investors hungry to be a part of it.

This can happen easily when you pay someone to write a custom business plan for you.

You are unique and so should your business plan be unique! No duplicates!

6. Don’t pay someone to write a business plan, who doesn’t know what investors want!

This is a bonus tip. Don’t pay someone to write a business plan, that doesn’t know what investors want , the reason is that, if you intend to raise funds, you need someone that understands what investors look out for in a business plan to help you write your business plan.

A business plan for personal use may not give attention to certain things investors look out for in a business plan.

So, working with a business plan writer that knows what investors look out for in a business plan , gives you an edge to win investors.

LGS consulting has handled involving top brands such as HP, VC of Uber and Twitter and many others. Chat with their consultants now.

Now, that you know, if you want to raise funds , you can’t just hire anybody, because with investors you may not have a second opportunity to make a good first impression. Other key things to check before paying someone to write a business plan for you.

Now, with these 5 tips, we hope you would be well guided before paying someone to write a business plan for you. If you want our team  to help you write a professional business plan, we are here .

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How to build a strategic hiring plan

Building a hiring plan involves aligning hiring resources with business goals and long-term staffing needs. It requires gathering all stakeholders, determining financial resources, setting company goals, understanding headcount, performing skills gap analyses, and determining CEO involvement.

Willy-nilly recruitment happens when nothing is in writing. I’ve seen this firsthand. Hiring managers open requisitions, only to withdraw them when learning they don’t have full buy-in from the leadership team. Recruiters are then forced to perform an awkward song and dance to the candidates they’ve already engaged.

There’s gotta be a better way, right?

The better way happens when there’s an actual hiring plan. Strategic hiring plans are about more than just headcount. They make business leaders stop and think about next year’s goals and whether or not the organization’s existing talent meets its needs.

From the Talent Acquisition side of the bench, annual hiring plans help me answer:

• What are our company goals for next year?
• What are our strategic initiatives?
• Do we have the human capital to meet those challenges next year?
• When should we fill these roles next year? (Q1,2,3,4)
• Can we adequately fund these roles?

Here’s some advice on how to plan your recruitment next year:

How to build a hiring plan

My conversations about hiring plans are always tied to budget. I need to know my financial resources before I can start building next year’s people resources. Here are some common questions and answers about the process:

What is a hiring plan?

The hiring plan itself is a spreadsheet with accompanying financials and headcount (budget for each role and department.)

Who builds the hiring plan?

All members of the leadership team are stakeholders in this process, as are their direct reports — specifically, those who own people leadership and budget. Hiring plan meetings are an opportunity for these teams to calibrate overarching business goals against existing resources.

Align your hiring team

With Workable’s hiring plan, you’ll move out of the spreadsheets and into one centralized workspace, where info is always current and next steps are always clear.

Try our hiring plans

How does the hiring plan process unfold?

Often times it runs parallel with the performance evaluations process which gives you an idea of what you may or may not need for each team in the upcoming year.

Here are some quick tips and steps on how to build your hiring plan :

Get everyone together in one room . This sounds overly simplistic, but I’ve found it’s actually one of the most challenging parts of the process. There’s a lot that comes to a head around year’s end: vacations, performance reviews and annual revenue targets. Start early. Get everyone on the calendar as soon as possible.

Determine the financial picture . Hiring plans are predicated by revenue. The G&A team should prepare the financials (spreadsheets, broken down by cost center) for next year. Use these to guide your budgets for each line of business.

Set company goals . This is the leadership team’s responsibility. The goals are always going to be financial. For example, the sales team might set revenue targets to close $X million in annual contracts next year. The hiring plan should help the VP of Sales accomplish this goal (for example, by hiring new account executive positions in Q2 and Q3.)

Learn your headcount . This is the most important metric for Talent Acquisition because it will drive your workload next year. Here’s what a hiring plan template for headcount looks like:

Perform skills gap analyses . If you’ve had turnover during the year, this is a good time to take a look at any skills you need to acquire through hiring . Or, consider succession planning strategies to fill those gaps.

Determine how your CEO will be involved . CEOs likely won’t be involved in all planning meetings at big organizations (more than 1,000 people) but will want a seat at the table early on at smaller businesses and startups.

Learn how you can boost your hiring plan with Workable !

Talent Acquisition’s role in the hiring plan process

As Talent Acquisition manager, I need a seat at the table during strategic hiring plan discussions because:

I help create more accurate hiring budget forecasts.

I am more in touch with what the market for compensation is, because I’m constantly talking to candidates. And benchmarking doesn’t always align with what’s going on in the market. For example, HR and hiring managers relying on benchmarking data might think they can recruit a marketing manager in Boston for $X, when I know that candidates expect $Y salary.

I need to know headcount to get the job done.

Hiring plans dictate the velocity at which I and my team need to recruit. Let’s say we’re planning to grow by 100 people next year. I need to know that I’m going to be positioned for success and that I have all the resources I need. We’d look at the plan and ask:

• What are the roles and what type of velocity could I handle?
• How many hires can I deliver in one quarter?

For example: my career-high is 15 hires in a quarter. But if the goal is 100 hires, I alone will not get us there. So I might make the business case to hire a contract recruiter , a talent sourcer and scheduler to better streamline the workflow.

Use hiring plans to power your recruiting strategy

Hiring plans are much more than numbers on a spreadsheet. They’re an opportunity for me to shape recruitment strategy by influencing and educating hiring managers and leadership as to how we’ll reach our ambitious goals together. In absence of an actual document, you have no platform from which to work, nor the ability to measure success or failure.

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The 7 Best Business Plan Examples (2024)

As an aspiring entrepreneur gearing up to start your own business , you likely know the importance of drafting a business plan. However, you might not be entirely sure where to begin or what specific details to include. That’s where examining business plan examples can be beneficial. Sample business plans serve as real-world templates to help you craft your own plan with confidence. They also provide insight into the key sections that make up a business plan, as well as demonstrate how to structure and present your ideas effectively.

Example business plan

To understand how to write a business plan, let’s study an example structured using a seven-part template. Here’s a quick overview of those parts:

• Executive summary: A quick overview of your business and the contents of your business plan.
• Company description: More info about your company, its goals and mission, and why you started it in the first place.
• Market analysis: Research about the market and industry your business will operate in, including a competitive analysis about the companies you’ll be up against.
• Products and services: A detailed description of what you’ll be selling to your customers.
• Marketing plan: A strategic outline of how you plan to market and promote your business before, during, and after your company launches into the market.
• Logistics and operations plan: An explanation of the systems, processes, and tools that are needed to run your business in the background.
• Financial plan: A map of your short-term (and even long-term) financial goals and the costs to run the business. If you’re looking for funding, this is the place to discuss your request and needs.

7 business plan examples (section by section)

In this section, you’ll find hypothetical and real-world examples of each aspect of a business plan to show you how the whole thing comes together. 

• Executive summary

Your executive summary offers a high-level overview of the rest of your business plan. You’ll want to include a brief description of your company, market research, competitor analysis, and financial information. 

In this free business plan template, the executive summary is three paragraphs and occupies nearly half the page:

• Company description

You might go more in-depth with your company description and include the following sections:

• Nature of the business. Mention the general category of business you fall under. Are you a manufacturer, wholesaler, or retailer of your products?
• Background information. Talk about your past experiences and skills, and how you’ve combined them to fill in the market. 
• Business structure. This section outlines how you registered your company —as a corporation, sole proprietorship, LLC, or other business type.
• Industry. Which business sector do you operate in? The answer might be technology, merchandising, or another industry.
• Team. Whether you’re the sole full-time employee of your business or you have contractors to support your daily workflow, this is your chance to put them under the spotlight.

You can also repurpose your company description elsewhere, like on your About page, Instagram page, or other properties that ask for a boilerplate description of your business. Hair extensions brand Luxy Hair has a blurb on it’s About page that could easily be repurposed as a company description for its business plan. 

• Market analysis

Market analysis comprises research on product supply and demand, your target market, the competitive landscape, and industry trends. You might do a SWOT analysis to learn where you stand and identify market gaps that you could exploit to establish your footing. Here’s an example of a SWOT analysis for a hypothetical ecommerce business: 

You’ll also want to run a competitive analysis as part of the market analysis component of your business plan. This will show you who you’re up against and give you ideas on how to gain an edge over the competition. 

• Products and services

This part of your business plan describes your product or service, how it will be priced, and the ways it will compete against similar offerings in the market. Don’t go into too much detail here—a few lines are enough to introduce your item to the reader.

• Marketing plan

Potential investors will want to know how you’ll get the word out about your business. So it’s essential to build a marketing plan that highlights the promotion and customer acquisition strategies you’re planning to adopt. 

Most marketing plans focus on the four Ps: product, price, place, and promotion. However, it’s easier when you break it down by the different marketing channels . Mention how you intend to promote your business using blogs, email, social media, and word-of-mouth marketing. 

Here’s an example of a hypothetical marketing plan for a real estate website:

Logistics and operations

This section of your business plan provides information about your production, facilities, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan (a.k.a. financial statement) offers a breakdown of your sales, revenue, expenses, profit, and other financial metrics. You’ll want to include all the numbers and concrete data to project your current and projected financial state.

In this business plan example, the financial statement for ecommerce brand Nature’s Candy includes forecasted revenue, expenses, and net profit in graphs.

It then goes deeper into the financials, citing:

• Funding needs
• Project cash-flow statement
• Project profit-and-loss statement
• Projected balance sheet

You can use Shopify’s financial plan template to create your own income statement, cash-flow statement, and balance sheet. 

Types of business plans (and what to write for each)

A one-page business plan is a pared down version of a standard business plan that’s easy for potential investors and partners to understand. You’ll want to include all of these sections, but make sure they’re abbreviated and summarized:

• Logistics and operations plan
• Financials 

A startup business plan is meant to secure outside funding for a new business. Typically, there’s a big focus on the financials, as well as other sections that help determine the viability of your business idea—market analysis, for example. Shopify has a great business plan template for startups that include all the below points:

• Market research: in depth
• Financials: in depth

Your internal business plan acts as the enforcer of your company’s vision. It reminds your team of the long-term objective and keeps them strategically aligned toward the same goal. Be sure to include:

• Market research

Feasibility 

A feasibility business plan is essentially a feasibility study that helps you evaluate whether your product or idea is worthy of a full business plan. Include the following sections:

A strategic (or growth) business plan lays out your long-term vision and goals. This means your predictions stretch further into the future, and you aim for greater growth and revenue. While crafting this document, you use all the parts of a usual business plan but add more to each one:

• Products and services: for launch and expansion
• Market analysis: detailed analysis
• Marketing plan: detailed strategy
• Logistics and operations plan: detailed plan
• Financials: detailed projections

Free business plan templates

Now that you’re familiar with what’s included and how to format a business plan, let’s go over a few templates you can fill out or draw inspiration from.

Bplans’ free business plan template

Bplans’ free business plan template focuses a lot on the financial side of running a business. It has many pages just for your financial plan and statements. Once you fill it out, you’ll see exactly where your business stands financially and what you need to do to keep it on track or make it better.

PandaDoc’s free business plan template

PandaDoc’s free business plan template is detailed and guides you through every section, so you don’t have to figure everything out on your own. Filling it out, you’ll grasp the ins and outs of your business and how each part fits together. It’s also handy because it connects to PandaDoc’s e-signature for easy signing, ideal for businesses with partners or a board.

Miro’s Business Model Canvas Template

Miro’s Business Model Canvas Template helps you map out the essentials of your business, like partnerships, core activities, and what makes you different. It’s a collaborative tool for you and your team to learn how everything in your business is linked.

Better business planning equals better business outcomes

Building a business plan is key to establishing a clear direction and strategy for your venture. With a solid plan in hand, you’ll know what steps to take for achieving each of your business goals. Kickstart your business planning and set yourself up for success with a defined roadmap—utilizing the sample business plans above to inform your approach.

Business plan FAQ

What are the 3 main points of a business plan.

• Concept. Explain what your business does and the main idea behind it. This is where you tell people what you plan to achieve with your business.
• Contents. Explain what you’re selling or offering. Point out who you’re selling to and who else is selling something similar. This part concerns your products or services, who will buy them, and who you’re up against.
• Cash flow. Explain how money will move in and out of your business. Discuss the money you need to start and keep the business going, the costs of running your business, and how much money you expect to make.

How do I write a simple business plan?

To create a simple business plan, start with an executive summary that details your business vision and objectives. Follow this with a concise description of your company’s structure, your market analysis, and information about your products or services. Conclude your plan with financial projections that outline your expected revenue, expenses, and profitability.

What is the best format to write a business plan?

The optimal format for a business plan arranges your plan in a clear and structured way, helping potential investors get a quick grasp of what your business is about and what you aim to achieve. Always start with a summary of your plan and finish with the financial details or any extra information at the end.

Want to learn more?

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How Much Does it Cost to Start a Business?

8 min. read

Updated April 25, 2024

What will it cost to start your business? This is a key question for anyone thinking about starting out on their own. You’ll want to spend some time figuring this out so you know how much money you need to raise and whether you can afford to get your business off the ground.

Most importantly, you’ll want to figure out how much cash you’re going to need in the bank to keep your business afloat as you grow your sales during the early days of your business. 

Typical startup costs can vary depending on whether you’re operating a  brick-and-mortar store, online store, or service operation . However, a common theme is that launching a successful business requires preparation.

And while you may not know exactly what those expenses will be, you can and should begin researching and estimating what it will cost to start your business.

• How to determine your startup costs

Like when developing your  business plan , or  forecasting  your initial sales, it’s a mixture of  market research ,  testing , and informed guessing. Looking at your competitors is a good starting point. Once you feel your initial estimates are in the ballpark, you can start to get more specific by making these three simple lists.

1. Startup expenses

These are expenses that happen before you launch and start bringing in any revenue. Here are some examples:

• Permits and Licenses: Every business needs a license to operate, just like a driver needs one to drive. Costs vary depending on industry and location.
• Legal Fees: Getting your business structure set up (sole proprietorship, LLC, etc.) might involve consulting a lawyer and at least will involve the basic business formation fees.
• Insurance: Accidents happen, and insurance protects your business from unforeseen bumps.
• Marketing and Branding: The ways to spread the word about your product or service. They could involve creating a website, creating business cards, or promoting social media.
• Office Supplies : Pens, paperclips, that all-important stapler – the essentials to keep your business humming.
• Rent/Lease: If you need to rent space for your business before you start selling, include those expenses in your list as well.

2. Startup assets

Next, calculate the total you need to spend on assets to get your business off the ground. Assets are larger purchases that have long-term value. They’re typically significant items that you could resell later if you needed or wanted to.

Here are a few examples:

• Equipment:  Think ovens for a bakery, cameras for a photography business, or computers for a tech startup.
• Inventory:  If you’re selling products, you’ll need to stock up before opening your doors (or your online store).
• Furniture and Decorations:  Desks, chairs, that comfy couch in the waiting room – creating a functional and inviting workspace might involve some upfront investment.
• Vehicles: If your business requires a vehicle to deliver your product or service, be sure to account for that purchase here.

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Why separate assets and expenses?

There’s a reason that you should separate costs into assets and expenses. Expenses are deductible against income, so they reduce taxable income. Assets, on the other hand, are not deductible against income.

By initially separating the two, you potentially save yourself money on taxes. Additionally, by accurately accounting for expenses, you can avoid overstating your assets on the balance sheet. While typically having more assets is a better look, having assets that are useless or unfounded only bloats your books and potentially makes them inaccurate. 

Listing these out separately is good practice when  starting a business  and leads into the final piece to consider when determining startup costs. 

3. Operating Expenses

Finally, figure out what it’s going to cost to keep your doors open until sales can cover expenses. Create a list that estimates monthly expenses, such as:

• Payroll (including your own salary)
• Marketing and advertising
• Loan payments
• Insurance premiums
• Office supplies
• Professional services
• Travel costs
• Shipping and distribution

Then, based on your revenue forecasts , calculate how many months it will take before your sales can cover all those monthly expenses. Multiply that number of months by your monthly operating expenses to determine how much you’re going to need to cover operating expenses as your business starts.

This number is often called “ cash runway ” and is a critical number – you need enough cash to fund those early red ink months. This number is how much cash you need to have in your checking account when you open your doors for business.

Calculating how much startup cash you need

To figure out how much money you need to start your business, add the asset purchases, startup expenses, and operating expenses over your cash runway period. This is your total startup costs, and it’s better to overestimate than underestimate these costs.

It often makes sense to invest the time to build a slightly more detailed starting costs calculation. Assuming you start making some sales and those sales grow over time, your revenue will be able to help pay for some of your operating expenses. Ideally, your sales contribute more and more over time until you become profitable.

To do a more detailed calculation, you’ll want to invest the time in a detailed financial forecast where you can experiment with different scenarios. If you do this, you’ll be able to see how much it will cost to start your business with different revenue growth rates. You’ll also be able to experiment with different funding scenarios and what your business would look like with different types of loans.

• Funding Starting Costs

You can cover starting costs on your own, or through a combination of loans and investments.

Many entrepreneurs decide they want to raise more cash than they need so they’ll have money left over for contingencies. While that makes good sense when you can do it, it is difficult to explain that to investors. Outside investors don’t want to give you more money than you need, because it’s their money.

You may see experts who recommend having anywhere from six months to a year’s worth of expenses covered, with your starting cash. That’s nice in concept and would be great for peace of mind, but it’s rarely practical. And it interferes with your estimates and dilutes their value.

Of course, startup financing isn’t technically part of the starting costs estimate. But in the real world, to get started, you need to estimate the starting costs and determine what startup financing will be necessary to cover them. The type of financing you pursue may alter your startup or ongoing costs in a given period, so it’s important to consider this upfront.

Here are common financing options to consider:

• Investment : What you or someone else puts into the company. It ends up as paid-in capital in the  balance sheet . This is the classic concept of business investment, taking ownership in a company, risking money in the hope of gaining money later.
• Accounts payable : Debts that are outstanding or need to be paid after a certain time according to your balance sheet. Generally, this means credit-card debt. This number becomes the starting balance of your balance sheet.
• Current borrowing : Standard debt, borrowing from banks,  Small Business Administration , or other current borrowing.
• Other current liabilities : Additional liabilities that don’t have interest charges. This is where you put loans from founders, family members, or friends. We aren’t recommending interest-free loans for financing, by the way, but when they happen, this is where they go.
• Long-term liabilities : Long-term debt or long-term loans.
• Other considerations for estimating startup costs

Pre-launch versus normal operations

With our definition of starting costs, the launch date is the defining point. Rent and payroll expenses before launch are considered startup expenses. The same expenses after launch are considered operating or ongoing expenses.

Many companies also incur some payroll expenses before launch because they need to hire people to train before launch, develop their website, stock shelves, and so forth.

Further Reading: How to calculate the hourly cost of an employee

The same defining point affects assets as well. For example, amounts in inventory purchased before launch and available at launch are included in starting assets. Inventory purchased after launch will affect  cash flow , and the balance sheet; but isn’t considered part of the starting costs.

So, be sure to accurately define the cutoff for startup costs and operating expenses. Again, by outlining everything within specific categories, this transition should be simple and easy to keep track of.

Your launch month will likely be the start of your business’s fiscal year

The establishment of a standard fiscal year plays a role in your analysis. U.S. tax code allows most businesses to manage taxes based on a fiscal year, which can be any series of 12 months, not necessarily January through December.

It can be convenient to establish the fiscal year as starting the same month that the business launches. In this case, the startup costs and startup funding match the fiscal year—and they happen in the time before the launch and beginning of the first operational fiscal year. The pre-launch transactions are reported as a separate tax year, even if they occur in just a few months, or even one month. So the last month of the pre-launch period is also the last month of the fiscal year.

• Aim for long-term success by estimating startup costs

Make sure you’ve considered every aspect of your business and included related costs. You’ll have a better chance at securing loans, attracting investors, estimating profits, and understanding the cash runway of your business.

The more accurately you layout startup costs and make adjustments as you incur them, the more accurate vision you’ll have for the immediate future of your business. 

Tim Berry is the founder and chairman of Palo Alto Software , a co-founder of Borland International, and a recognized expert in business planning. He has an MBA from Stanford and degrees with honors from the University of Oregon and the University of Notre Dame. Today, Tim dedicates most of his time to blogging, teaching and evangelizing for business planning.

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Influencer Marketing

What is influencer marketing: An influencer strategy guide for 2024

Learn about the evolving world of influencer marketing in this guide from understanding the types of influencers to crafting effective strategies.

Reading time  13 minutes

Published on  June 6, 2024

Table of Contents

• Influencer marketing has evolved significantly over the past decade. It has expanded beyond celebrities to include social media influencers who foster authentic connections and influence purchase decisions and brand reputation.
• Understanding the types of influencers, from mega to nano, is crucial for brands to choose the right partners. The types of influencers you choose to partner with will determine the reach, engagement and ROI you get.
• Common influencer marketing mistakes to avoid include failing to define clear goals and expectations, prioritizing follower-count over engagement, neglecting influencer research and sharing unclear briefs.

Influencers are here to stay. According to a Q3 2023 Sprout Pulse Survey, more than 80% of marketers agree that influencers are essential to their overall social media strategy.

But the world of influencer marketing is constantly evolving.

A decade ago, the influencer marketing arena was limited only to celebrities and a few dedicated bloggers, whereas now, social media influencers are abound across all social networks. Their followings may vary in size, but these influencers pack a punch. Their tight-knit communities foster authentic connections and influence purchase behaviors, leading to higher brand engagement and ultimately, sales.

However, working with digital creators and influencers needs a well-planned and strategic approach. And this guide aims to help you navigate it. Read on for tips on how to build an effective influencer marketing strategy, what mistakes to avoid and how to find the right influencers for your brand.

Download the 2024 Influencer Marketing Benchmarks Report

What is influencer marketing?

Influencer marketing is a social media marketing approach that uses endorsements and product mentions from influencers. These individuals have a dedicated social following and are viewed as experts within their niche.

Influencer marketing works because of the high trust social influencers have built with their following over time. Recommendations from these influencers serve as a form of social proof to your brand’s potential customers.

Types of influencers: By size and reach

Partnering with an influencer with millions of followers might sound like a dream come true but they may not be the best fit for your brand.

Some social media influencers have large, broad audiences spanning across several demographics. Others boast smaller but more targeted and engaged communities.

Knowing what each type of influencer can offer you in terms of reach, range, cost and engagement is key to choosing the right ones for your brand.

Let’s take a deeper look at the various types of influencers out there:

Mega or celebrity influencers

These influencers have a massive following of over 1 million and often include famous actors, musicians, athletes and other public figures. Their celebrity status allows them to captivate a diverse audience, making them ideal for large-scale brand awareness campaigns. Think: Cristiano Ronaldo .

Mega influencers can give your brand unparalleled exposure, but partnering with them can be incredibly expensive. Plus, since their audience is often broad, their engagement rates may not be as high as influencers with smaller, more niche followings.

Here are some businesses that might benefit from working with mega influencers:

• Large enterprise corporations that have the budget and resources
• Brands targeting a broad audience with varying characteristics
• Luxury or high-end brands that want to create a sense of exclusivity

Macro-influencers

With a following that typically ranges from 100,000 to 1 million, macro-influencers are established personalities within their respective niches.

These influencers have earned their reputation through consistent content creation and engagement over time, and are now thought leaders in their niche .

Macro-influencers offer a more targeted approach compared to celebrities, as their followers usually share common interests. Collaborating with macro-influencers can provide your brand with substantial reach, but it may still be relatively costly depending on your budget.

Here are some examples of brands that might work with macro-influencers:

• Startups seeking rapid exposure, growth and credibility (e.g., Canva )
• Nonprofit organizations looking to raise funds and awareness
• Hotels and airlines targeting a specific but large audience

Micro-influencers

With 10,000 to 100,000 highly engaged followers, micro-influencers are the rising stars of influencer marketing. These influencers typically have a strong presence on specific platforms, like Instagram, YouTube and TikTok.

Marketers love working with micro-influencers as they captivate a niche, passionate audience with their creative content, relatable recommendations and genuine interactions. They’re also more affordable than larger influencers.

Nano-influencers

Nano-influencers have between 1,000 to 10,000 followers. These influencers often have a strong connection with their audience, thanks to the close-knit community they’ve built and their personable content.

While they offer a smaller reach, nano-influencers can be excellent partners for businesses who want to target specific communities and demographics without breaking the bank. In fact, per the latest Influencer Marketing Hub data, 44% of brands prefer to partner with nano influencers in 2024, compared to 39% in 2023.

There are many reasons for this, namely, since nano-influencers work on a small scale, they dedicate more time and effort to individual partnerships. This means more tailored content for your brand and personal relationships within niche communities. They are perfect for businesses such as:

• Local businesses targeting specific communities, cities or regions
• Small businesses with limited budgets that want to run cost-effective campaigns
• Artisan, home-based or speciality food businesses reaching a niche audience interested in their one-of-a-kind products

Why use influencer marketing?

Influencer marketing can be an incredibly powerful marketing tool for you, and brands are already using it to their advantage, as these influencer marketing examples show.

According to The 2024 Influencer Marketing Report , almost half of all consumers (49%) make purchases at least once a month because of influencer posts; and almost all consumers (86%) make a purchase inspired by an influencer at least once a year. Not surprisingly, the influencer marketing industry is expected to grow to $24 billion in 2024 as indicated by the Influencer Marketing Hub's latest research.

Here are more reasons why you should add influencers to your marketing mix.

Increased brand awareness

Collaborating with an influencer draws a wider audience to your brand. By featuring your brand in their content, influencers introduce it to new audiences who may not have been familiar with it. Also, the trust influencers hold with their followers enhances your brand's reputation and credibility and boosts market awareness.

Precise audience targeting

Influencer marketing helps brands with precise audience targeting by connecting brands to influencers whose followers align with the brand's target demographic. This ensures their message reaches the right audience and is delivered from a perspective that resonates with the audience, making the campaign more effective.

Higher conversions

Social proof is a powerful factor in the likelihood of making a purchase after seeing an influencer campaign, because it helps sway undecided consumers in your favor. Similarly, influencers often share interactive content such as giveaways, challenges and live sessions that drive engagement and prompt actions like making purchases or signing up for deals. They also share exclusive discount codes or special offers making it easy to track conversions directly linked to their promotion.

Building trust and authenticity with your audience

Influencers build trust with their followers by sharing personal experiences and opinions that resonate with their audience, making them more relatable. They further increase their credibility by being open about brand partnerships and only promoting products they genuinely support.

Plus, their seemingly unscripted content contrasts with traditional advertisements, making it sound authentic and spontaneous, which fosters personal connection with followers. This trust is further reinforced by how they respond to comments, making their audiences feel valued and heard, thus strengthening the bond. All this combined, helps influencers drive higher conversion rates for brands.

How to create an influencer marketing strategy in 5 steps

While Instagram influencer marketing is a well-known strategy, other platforms like TikTok , YouTube and Snapchat resonate increasingly well with different demographics.

Like any marketing tactic, an influencer program takes thoughtful planning. Here are key factors to consider while developing your influencer marketing strategy.

1. Find influencers and understand their payment structure

Finding the right influencer for your brand is the first step to building a successful influencer marketing strategy. You must invest time in market research to understand your audience’s preferences and choose the right platform to engage them with an influencer collaboration.

This is especially important because each network caters to a specific audience. For example, beauty and fashion brands shine on Instagram and YouTube, while the video game industry dominates Twitch.

Here are some factors to consider when searching for influencers:

• Does the influencer already post about similar topics related to your service?
• Are they legit? Scroll through their feed and click through on posts. A poor engagement ratio to follower count and spam-like comments are signs of a fake account or fake followers.
• Have they worked with similar brands before? Depending on what type of influencer you’re looking for, a seasoned one will be able to show you a press kit that contains a portfolio of their work.

Social listening can assist you in identifying where people are discussing your industry and brand, and to find influential voices within your industry on each platform.

40 Unique Ways To Use Social Listening To Make An Impact On Your Business

Similarly, focus on the type of influencers you want, and plan for their pricing . Whether it’s celebrities with massive followings or micro-influencer s with less than 2,000 followers, do your due diligence because that will determine your budget.

Compensation varies based on platform, influencer types and types of influencer collaborations, so think about the expected ROI of your social influencer marketing campaign. How will you measure the impact of influencer posts on your overall marketing goals? For instance, compare how you would budget for a video production firm creating an ad versus an influencer creating a video. Resources like this Instagram influencer rate map can help you estimate influencer costs based on audience size and industry.

2. Set a budget and management strategy

The next step is to create an influencer marketing budget.

Use an influencer marketing budgeting template to manage your expenses and strategically allocate resources to high-value partnerships. Be sure to account for the time needed to plan, execute and review your influencer program because, unlike automated ad strategies, influencers often juggle multiple partnerships, requiring a more hands-on approach from you.

If your budget allows, consider establishing an ambassador program to diversify and enrich your content. Similar to Fujifilm , which uses ambassadors for new product launches and to highlight new product features.

Whether you engage an influencer marketing agency or not, investing in an all-in-one influencer marketing software is a good idea, helping you sift through suitable influencers, manage pricing negotiations and review and approve content.

3. Decide on campaign goals and messaging

To ensure your influencer strategy succeeds, focus on your campaign's goals and needs. Determine whether you want to reach a new demographic, introduce a new product or highlight your brand values through influencers. Also, explore influencer trends to see what’s resonating in your industry.

Your message is as crucial as your goal. And since influencers target specific audiences, refining your campaign messaging is important for effective content.

Influencer content is typically more conversational and personal, which helps differentiate it from brand-driven or sales-oriented posts. But while it’s important to preserve an influencer’s creativity and uniqueness, ensure their content aligns with your brand values.

4. Establish influencer outreach: How to contact influencers

Your outreach will depend on the type of influencer you’ve chosen. For example, celebrities and macro influencers often work through agencies, so you might have to connect with an agency to reach them. Some may also list their contact information for business inquiries in their bio and have a website that denotes brand partnerships.

For example, Summer Rayne Oakes has a multi-channel presence, which is a perk for her brand partners.

For micro-influencers, you could reach out directly in a private message via their social platform.

5. Review and refine your strategy

It’s important to refine and review your strategy so you’ll be more successful with each campaign going forward. Having predetermined milestones where you’ll measure progress can prove very helpful in this.

While these tips serve as a guide to help you craft a well-planned strategy, it's crucial to be aware of common mistakes to avoid in influencer marketing. We’ll dive into those, next.

Influencer marketing mistakes to avoid

Influencer marketing can be highly rewarding — if done right. Sidestep these potential pitfalls to ensure smooth influencer collaborations and successful campaign outcomes.

Failing to define clear goals and KPIs

First things first, know why you’re doing this in the first place. Partnering with an influencer is a big deal — you need to be clear about the purpose and goals of your campaign.

Here are a few ways setting goals in advance can help you:

• Choose the right influencers: Defining goals helps you identify the specific characteristics and qualities you need in an influencer to achieve those outcomes. For example, if your goal is to increase brand awareness, you can find influencers who have a strong presence and reach within your niche.
• Define and measure success: What does success mean to you? Is it the number of impressions, post engagement or the amount of traffic coming to your website? Define which KPIs and metrics to track both during and after the campaign to assess how well your influencer campaign is performing.
• Keep everyone on track: Setting clear goals ensures that both the brand and the influencer are working towards a common purpose. This facilitates effective communication and constructive feedback, saving everyone’s valuable time.
• Hold influencers accountable: Establishing clear expectations and performance benchmarks makes influencers feel responsible. They know the results they need to provide and will focus on creating content that aligns with those goals.

Prioritizing follower count over engagement

A large following doesn't always mean high engagement. It’s entirely possible an influencer has millions of passive followers but very low engagement.

Instead, partner with influencers with an engaged and loyal audience. A handful of people who trust the influencer are more valuable to your brand than thousands of indifferent followers unlikely to convert.

Look at the influencer’s engagement metrics, comments and interactions, as well as past results for other brands to gauge their level of influence and likeability.

Neglecting to research the influencer

Choosing the wrong influencers, including fake influencers , can cost your business valuable time and money. But this hasn’t deterred marketers, with 60% of marketers intending to increase their influencer marketing budget over 2024, the Influencer Marketing Hub states.

An easy fix is to properly research the influencer of your choice, before signing a partnership. Vet influencers and evaluate their influencer media kit to ensure they share your vision and complement your brand’s personality.

Here are some key areas to look into when researching influencers for your brand:

• Audience demographics: Study the influencer's followers to ensure your campaign reaches the right audience. Analyze factors like age, gender, location and interests (e.g., Millennials who identify as women) to determine if they are likely to become your customers.
• Interactions, voice and content: Look at the influencer’s engagement rate, the tone of voice they use and the type of content they create. For example, if your brand has a playful, casual image, partnering with an influencer known for their formal, business-oriented content might not be the best fit.
• Authenticity and influence: Forced partnerships can appear insincere and hurt both your campaign and brand image. Collaborate with influencers who genuinely love your brand and products. Their followers trust them for a reason and you don't want your brand to get in the way of their (and your) credibility.
• Experience with branded content: Has the influencer worked with other brands in the past? Have they ever worked with your competitors? Carefully scrutinize their content to spot any red flags and gauge the value they can provide.

Writing poorly constructed briefs

Crafting well-structured briefs is key to maximizing your influencer marketing campaigns. A good social media campaign brief equips influencers with the details and resources they need to represent your brand effectively, without being overly restrictive.

Here’s a quick rundown on what to include in your brief:

• What is the main goal of your campaign? What are you hoping to achieve?
• What is your company’s background? What is your brand and what product/s are you selling?
• What are your product’s key benefits, features and differentiators?
• Who is your target audience? Include an audience persona if you have one.
• What does your budget look like for this campaign?
• Do you have a timeline in mind?
• Do you want the influencer to use your brand assets? Provide them with your logo, colors and fonts if necessary.

Don’t forget to inform influencers of any words or ideas to avoid in their content. For example, if you’re an eco-friendly brand, let the influencer know that sustainability is a core value and they should avoid using plastic and other such products in their content.

Restricting the influencer's creative freedom

While comprehensive briefs are important, there’s such a thing as too much information.

Avoid going overboard with your guidelines. You don’t need to dictate the influencer’s exact words or actions. Doing so can stifle the influencer's creative freedom, resulting in content that looks scripted and inauthentic.

Some brands also make the mistake of micro-managing every aspect of the content creation process. For example, you don’t need to vet multiple drafts just before they go live.

Remember, influencers are the experts in creating content their audience loves and trusts. Your brand just needs to support them with resources they need to create great content for effective influencer marketing.

Not setting expectations upfront

Establishing clear expectations beforehand enables a smooth, productive collaboration. The result? A successful campaign aligned with your goals.

Make sure you agree on the following items in advance:

• Timeline and deliverables: Clearly outline the campaign timeline, including start and end dates, as well as any deadlines for content submission and publication. Also, specify the required deliverables, such as the number of posts, stories or videos the influencer needs to create.
• Payment and terms: Agree on the payment structure, whether it's a one-time fee, ongoing retainer or performance-based compensation. Discuss the payment schedule and any additional terms, such as bonuses for exceptional performance or penalties for missed deadlines.

Focusing on the wrong metrics

Influencer marketing can offer more benefits to your business than merely boosting sales. Fixating only on conversions and revenue data can mislead brands into thinking their campaigns are not working.

Here are some other metrics to consider when measuring the impact of your campaigns:

• Engagement metrics: Evaluate likes, comments, and shares to understand content resonance and audience interaction.
• Brand awareness metrics: Measure views, clicks and website traffic to gauge campaign reach and audience interest.
• Follower growth: Track new followers to determine influencer impact on brand visibility and audience expansion.
• Inbound leads: Track the number of inquiries and messages your brand gets to analyze the campaign’s impact on inbound lead generation.

How to track influencer marketing campaigns

There are a few ways of measuring the success of your campaign.

If you want to keep a pulse on the content your influencers are creating and interacting with, you can create a specific branded hashtag, like #SproutPartner. The Sprout Social Smart Inbox makes it easy to see what’s being talked about with specific hashtags, or to watch for mentions of specific keywords .

Use Sprout’s reporting feature to tag and track campaign-related posts. You can also compare how each post is performing and view metrics such as post engagements, clicks and impressions.

Similarly, if you’re aiming for more sales, giving out affiliate codes or tracking links will help you measure the revenue generated from influencers.

Create a successful influencer marketing strategy for your brand

It’s clear—influencers are the new wave in marketing. However, the influencer marketing world is constantly evolving, and in five years may be drastically different from today.

While working with influencers has unique considerations, setting up a campaign is the same as most marketing campaigns: research, set a budget, determine goals, find your influencers, and review and revise. Once you’ve got a hold of the rhythm, creating different influencer marketing campaigns to meet your brand’s various needs will become second nature.

If you need more resources for your team on running influencer campaigns, check out our ultimate guide for running successful social media campaigns .

Influencer Marketing FAQs

The three R’s in influencer marketing strategy are relevance, reach and resonance.

• Reach alludes to the number of followers the influencer has and the people they can potentially reach with their content.
• Relevance is how well the influencer’s content aligns with your brand voice, target audience and marketing goals.
• Resonance is the level of meaningful interactions and connections the influencer’s content creates with their followers, which translates to greater audience loyalty.

An influencer marketing strategy needs meticulous planning. Here are five things you need to keep in mind to ace it.

• Find influencers and understand their payment structure
• Set a budget and management strategy
• Decide on campaign goals and messaging
• Establish influencer outreach process
• Review and refine your strategy

Social media influencers collaborate with brands to promote products or services to their followers through sponsored posts, product reviews and endorsements. In doing so, they help shape consumer opinions and purchasing decisions.

Additional resources for Influencer Marketing

• Influencers
• Social Media Strategy

Influencer pricing: how much influencers really cost

• Social Media Content

UK Food influencers redefining taste for your brand

Influencer marketing trends across industries

Spotlight on UK beauty influencers for your brand

An Influencer Marketing Toolkit to Kickstart Your Strategy

Influencer relationships (with consumers & brands) are evolving—what does that mean for marketers?

11 best influencer marketing tools you need in 2024

UK fashion influencers redefining style

• Future of Marketing

The rise of virtual influencers: are they here to stay?

Elevate Your Next Campaign With This Influencer Marketing Brief Template

Powerful UK fitness influencers for your next campaign

Find UK TikTok Influencers for your brand

24 Top YouTube influencers to check out in 2024

• Social Media Analytics

8 top influencer analytics tools to boost your campaign ROI in 2024

The benefits of influencer marketing (+ what the C-Suite cares about)

Rethinking the influencer-brand relationship

10 metrics to track influencer marketing success in 2024

How to find influencers for your brand’s marketing campaign

How B2B influencer marketing will grow your brand

16 influencer marketing platforms to boost your campaigns in 2024

Mastering Instagram influencer marketing: strategies for success

The complete guide to TikTok influencer marketing

A 6-point framework for maximizing influencer marketing ROI

• Social Media Trends

22 influencer marketing statistics to guide your brand’s strategy in 2024

7 examples of influencer marketing campaigns

• Branding & Creative

The ultimate guide to evaluating influencer media kits

Micro-influencer marketing guide: Facts and uses

YouTube influencer marketing guide to boosting brand awareness

The rise of senior influencers: Age is just a number but follower count isn’t

Today’s top TikTok influencers: Inspiration for your brand’s evolving social strategy

Digital creators vs. influencers: What’s the difference?

Why LinkedIn influencer marketing matters for brands

• Social Media Engagement

What are fake influencers and how can you spot them?

• Community Management
• Consumer Goods

Nanoinfluencer marketing 101: How I got 1000 engaged followers in 30 days

Influencer marketing

10 Lessons From Instagram Influencers

Influencer Marketing Ain’t Easy: 5 Client Questions to Answer Before They Ask

Using Sprout Social for Influencer Marketing Campaigns

Build and grow stronger relationships on social

Sprout Social helps you understand and reach your audience, engage your community and measure performance with the only all-in-one social media management platform built for connection.

Election latest: 'This is not a cartoon election' - Sir Liam Fox comes to Rishi Sunak's defence over D-Day mistake

The former defence secretary comes to Rishi Sunak's defence as he is asked why the prime minister has decided not to talk to journalists this weekend.

Sunday 9 June 2024 22:57, UK

• General Election 2024

Election news

• Media 'haven't been allowed near Sunak' after D-Day blunder
• Labour manifesto will contain no 'tax surprises', Starmer says  
• Conservatives promise to reform benefits system
• Electoral Dysfunction:  What could be in the party manifestos?

Expert analysis

• Rob Powell: Sunak struggles to change the weather after unstable campaign start
• Tamara Cohen: Labour can't believe their luck

Election essentials

• Battle For No 10: PM and Starmer taking part in Sky News special
• Campaign Heritage: Memorable moments from elections gone by
• Trackers: Who's leading polls? | Is PM keeping promises?
• Follow Sky's politics podcasts: Electoral Dysfunction | Politics At Jack And Sam's
• Read more: Who is standing down? | Key seats to watch | How to register to vote | What counts as voter ID? | Check if your constituency is changing | Your essential guide to election lingo | Sky's election night plans

Labour has abandoned plans to bring back the pensions lifetime allowance (LTA), blaming the Tories "botched" handling of the policy. 

The LTA put a cap of £1.07m on how much people could save, or benefit from investment growth, in their pensions before tax charges kicked in. 

The limit was scrapped by Chancellor Jeremy Hunt last year - in a move branded a "tax cut for the rich" by Labour at the time. 

Ms Reeves pledged to reinstate the cap, but has now U-turned on the £800m proposal, with allies telling the Financial Times it would add uncertainty for savers and be complex to reintroduce. 

Insiders said the money it was due to raise was never allocated, so "there will be no black hole" as a result. 

A Labour source confirmed to Sky News that the cap would not be reintroduced, blaming the Tories for their handling of the policy. 

They said:  “The Conservatives have botched their policy of abolishing the lifetime allowance, with thousands of people approaching retirement being left in limbo because of errors in legislation. "

The source claimed this had led to "the extraordinary situation where the current government advised some savers to delay retirement until after the election". 

"Labour's priority is to bring stability and certainty back to the economy. That is why it will fall to a Labour government, if successful at the election, to sort out this mess and we are determined to do so.”

Sir Keir Starmer said he wants to "change the whole approach" to how students are charged for university, amid speculation he is considering a graduate tax. 

The Labour leader has come under pressure to make the system fairer after rowing back on his pledge to abolish tuition fees last year. 

Asked about rumours of some sort of graduate tax, the Labour leader told The Guardian: “The way the system works at the moment doesn’t work for students. It doesn’t work for universities. 

"I think we should change the whole approach, and obviously we’re working on what that would look like, and there is a range of options. 

"We will be looking at a fairer way overall, for students and actually for universities.”

Tuition fees rose to over £9,000 per year under the Conservative and Liberal Democrat coalition government.

Last year Sir Keir dropped his leadership pledge to abolish the fees, blaming the Tories' handling of the economy. 

Labour said at the time it would set out another solution "in the near future", with shadow education secretary Bridget Philipson saying she would like to lower monthly loan repayments. 

It is not clear if more detailed plans will be unveiled in the party's manifesto,  expected to be launched next week. 

Reports have previously suggested that members of Sir Keir's shadow cabinet are in favour of a graduate tax. 

The general idea behind this is that graduates would pay for their tuition through a special tax on their income, rather than paying back the fees through a loan with high interest rates. 

Reaction to Richard Holden's interview has already started trickling in.

One Tory candidate told our deputy political editor Sam Coates that the MP was a "disgrace to the Conservative Party".

"He's put himself over candidates. He's shown complete disdain for party members," they said. 

They added that it's becoming a "running joke" among candidates that Basildon and Billericay - the constituency Mr Holden is standing in - will turn into a Labour seat. 

"The only reason this fool won't be associated with this disastrous election is because nobody believes anyone thinks he is competent, capable or trusted enough to be involved in the day-to-day decision-making of this campaign," they said. 

If you missed Mr Holden's interview, you can watch it below...

Back to the interview with former defence secretary Liam Fox now. 

During the sit down with Ali Fortescue, he was asked about Nigel Farage's comments about Rishi Sunak. 

The Reform UK leader said the prime minister didn't understand the UK's history and culture, and he has been accused of emphasising Mr Sunak's immigrant heritage. 

Mr Fox told the Politics Hub that he was "disappointed" with Mr Farage's comments. 

"It's disappointing and it's dangerous. It brings an element into our politics which we should not have in British politics," he said.

"I hope that Nigel Farage will reflect on it - because I think he's a decent person. And I think he owes the prime minister and the country an apology." 

Labour's shadow environment secretary Steve Reed is next to appear on the show. 

He starts by reiterating that his party has no plan to increase personal taxes, including income tax, VAT and national insurance.

"People are currently paying the highest rates of personal taxation for 70 years since the end of the Second World War, and we have a cost of living crisis. People simply can't afford to pay anymore," he says.

"Labour's been crystal clear about all the way through this. We have proposals to inject funding into public services where that is required, and we have identified specific tax loopholes that we will close in order to bring that funding in." 

He says this includes changes to the nom-dom tax status and the VAT break on private school fees. 

"There will be no increase in the taxes that working people are paying," he adds. 

He is pushed on whether tax thresholds will change. 

"There is no plan and there's no need to change those because everything in our manifesto... is fully costed," he replies. 

Now to the world's second-biggest election.

Millions of people have taken part in elections to the European Parliament and the votes are being counted. 

Full results are expected later this evening, with seven major parties vying for seats.

Here's their current share in parliament: 

• The Europeans People’s Party currently holds almost 25%. 
• Followed by the Socialist and Democrats at just shy of 20%.
• Renew Europe has 14%.
• With 'The Conservative and Reformists' and The Greens taking up around 10% of seats each.
• Identity and Democracy and The Left follow at nearly 7% and 5%.

Correspondent for Greece and Cyprus at the Financial Times, Eleni Varvitsioti, tells the Politics Hub that the balance of power is expected to shift on major issues like mass migration, and energy politics. 

"We will see a shift to the right as I understand in the policies that will be taken in the next five years in the European Parliament," she adds. 

She explains that the question is whether the right-leaning parties are going to be able to cooperate. 

Next up in the studio is one of the original three Brexiteers - Sir Liam Fox. 

The former defence secretary came to Rishi Sunak's defence as Ali asked him why the prime minister has decided not to talk to journalists this weekend. 

He says Mr Sunak has been out campaigning and he will do more interviews as the election draws closer, adding that this is "not a cartoon election". 

He also argues that people have moved on from the PM's D-Day mistake, but it's the media that is still talking about it.

"Out in the country, people are still talking about the issues that matter most to them," he says. 

"The reason I wanted to come on here tonight was to say the real issue around defence is not around D-Day celebrations. It's around the fact that Vladimir Putin this week is threatening to give ballistic missiles to some of our country's enemies," he adds.

 He says the election needs to focus on the "big issues", including the fact that "we are in a crisis".

 "These are the serious issues. This is not a cartoon election, it is a real dangerous world we live in and the public want us to deal with the real issues," he adds. 

  Election veteran, our chief political correspondent Jon Craig , is first up on the Politics Hub. 

He tells Ali that Rishi Sunak's recent gaffes are more than mistakes we have seen from politicians in the past, because they are the result of "bad planning and bad judgement". 

"This is just terrible judgement by the prime minister," he says. 

"I suppose there are questions about why David Cameron didn't say to Rishi, no don't go," he adds, referring to the PM's mistake in leaving D-Day commemorations early. 

Earlier today, he also spoke to the Conservative Party Chair Richard Holden. 

The MP has been confirmed as the party's candidate in Basildon and Billericay, in Essex, having represented North West Durham since 2019.

Local Conservatives raised the possibility of challenging his selection, after he was the only person shortlisted for the seat by the party. 

Jon asked him about the decision, saying it was "anti- democratic" but he refused to give a straight answer about the situation. 

"I've already answered these questions when I did a Channel 4 interview last week," Mr Holden said. 

The show begins with the breaking news that centrist minister Benny Gantz has resigned from the Israeli war cabinet. 

Addressing the nation, he said the decision was "complex and painful". 

He also called on Prime Minister Benjamin Netanyahu to set an election date. 

His decision means the only centrist power in the embattled leader's far-right coalition has been withdrawn.

It comes after Mr Gantz presented Mr Netanyahu with an 8 June deadline to come up with a clear post-war strategy for Gaza. 

You can read all the latest updates in our dedicated Israel-Hamas blog below...

Our daily show  Politics Hub With Ali Fortescue  is live now on Sky News.

The fast-paced programme dissects the inner workings of Westminster, with interviews, insights, and analysis - bringing you, the audience, into the corridors of power.

Watch in the stream at the top of this page, and follow live updates here in the Politics Hub.

Watch  Politics Hub  from 7pm every night during the election campaign on Sky channel 501, Virgin channel 602, Freeview channel 233, on the  Sky News website  and  app  or on  YouTube

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