Confidence Versus Over Confidence, and Give and Take Business Plans

In completing many business plans, we occasionally run into an entrepreneurs or business owner that is extremely anxiety ridden. Their business is like their child and even more so like the father to be when contemplating preparation of their business plan. Much like that father to be, who changes his mind by the minute about what to expect of fatherhood, these business owners/entrepreneurs change their mind often in working with us on their “baby,” namely the business that is so important to them. We have to be understanding but admit sometimes it is difficult. The majority of the time we provide a fixed price to complete a business plan based on defined scope of work and the expectations of at least a reasonably smooth to/from process between our clients and ourselves.

Sometimes we run into a difficult situation with a client, namely he/she is so busy running his/her business or as a startup, they are working in a different area and they fail to give us all the raw information so critical to developing their plan. A selected few fail to understand even after being reminded several times thereafter that we need their input and raw information. Some even continue to give us that raw information in dribs and drabs.

Most clients have strong degrees of confidence that is so important. We have to stress how confidence is great, yet over confidence is often the opposite. With over confidence, clients often don’t understand the importance of raw info like what they have invested being itemized or bios or extended team members.

We make the process as easy as possible, sometimes our questionnaire, scheduled conference calls and email questions to gather data and address items needed for our client’s success. Our experience in completing some 1,000+ plans is that most people understand the need to work together, and we assume that new clients will be like the majority in the way they provide raw information by limiting changes of mind, providing concise answers to key items that need to be addressed, and therefore allowing us to do the work needed and completing an engagement typically with 2-3 drafts, not 6-7 or more through no fault of ours. Then, we can continue to provide flat rates for a business plan that is always custom; never a template like all too many would be competitors.

My intent for this blog is that readers will further understand our expectations as we work to understand theirs to develop an appropriate scope of work and provide the best service for a high quality, affordable business plan.