Читать книгу Entrepreneurial Finance - Robert D. Hisrich - Страница 22

Most entrepreneurs prepare a business plan for two reasons: to provide a road map for developing, managing, and operating the business and to raise outside equity or debt capital. While arguments can be made for and against writing a business plan, if financing is needed from an outside source, then a business plan needs to be written for this source to review.

Writing a business plan can be very difficult for entrepreneurs, as they are usually individuals characterized as doers, not planners. But it is not acceptable to hire someone to write the plan, as the task needs to be done personally. While outsiders (accountants, consultants, lawyers) can be used for input in terms of numbers and pieces of the plan, the final business plan needs to be developed and written by the entrepreneur and any initial top management team members when needed and appropriate. By doing this, the entrepreneur ensures that he or she is very familiar with all the details of the plan to be able to present it to outside sources of finance and make sound decisions that will affect the new venture. Every outside investor expects the entrepreneur to be knowledgeable about and totally involved in the proposed enterprise.

Developing the business plan takes energy, money, and time, with time being one of the most costly aspects. Since each business plan deals with an economy(s) and industry(s), a hidden cost of writing a business plan is a psychological one—understanding and knowing that anything can go wrong. This is particularly difficult for entrepreneurs who are overall optimistic and believe in themselves and their capabilities.