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Preparing and Presenting the Business Plan

Troy Wilson and, David Kohl (2016)

Summary

There is often a question about who should prepare the business plan. Should it be done internally or should someone be hired to do it? Although there are professional consultants who specialize in developing business plans, it is the business owner who will be the one to implement the plan. People are not investing in the consultant, they are investing in the business. At the very least, there should be input from every level of the organization. If it is a family business, both spouses should have input as well as any other family members who have a stake in the business. If it is a large, corporate business, senior management should not have sole responsibility for creating the plan. Everyone from the CEO to the entry-level employee should have a voice. With the proliferation of computers has come a multitude of software programs for creating business plans. These programs are useful for providing a basic framework for the plan. However, their flexibility may be limited. Combining these programs along with individual creativity will make for a better plan.