Consider this type of posting (this is a conglomerate of many I've seen in the past few years):
--- Need business plan asap for venture capital and angel investors. Must include (list of 30 topics here...) and include market research and marketing plan, five year financial projections plus recommendations for how to start this business. Business idea is worth $500 million, need $50 million in capital to start call centers world wide to sell soap direct to consumers. Have website concept, needs development. Need full business plan by Thursday, submit samples of three prior business plans you've done plus references. Since this is a start up, I only have $250 for this project. More business could come out of this once we get funding. ---
Once you read through all of this, you quickly realize that anyone that thinks they can get a meaningful business plan for $250 is better off buying one off the Internet and doing a find/replace to change the name of the business. Maybe there are folks in countries outside of the U.S. who can do this profitably and well for $250 US, but it's highly doubtful.
I don't think you need to pay tens of thousands of dollars for a business plan, but I do know that $250 won't get it done. Period. As an entrepreneur, you either have to have time or money available - the good ideas are what make you an entrepreneur but you have to invest time, money or both to launch your business.
Take time to write up your own business plan, even if you're not a great writer you can capture the essence of the business. If you need help conceptualizing your business model or clarifying how you'll make money or how you'll differentiate yourself from your competitors, talk to a friend, colleague or (gasp) even a consultant who can help you figure out the basics.
Don't be penny wise and dollar foolish when starting your business. If it's not built on a solid foundation, it will crumble sooner or later - and no amount of financing will change that (and no financing will come along until you figure that out). The real cost of a $250 business plan is thousands of dollars of lost time and opportunity, as well as a potential loss (complete and utter loss) of credibility with any investor you might talk with. A business plan is a way of capturing YOUR plans for the business and laying them out in a compelling and cogent manner for would-be investors and for you to use moving forward. A cheap business plan can do far more harm than good, and it's fair to say that no plan is better than a cheap, ill-fitting plan.
Need help? Need advice? Need to understand exactly what you're getting into? Check out www.virtualteam.com for more information on my consulting services.
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