Do I really need a business plan?

We have found that when entrepreneurs dedicate their time to planning their business, not only do they save money by avoiding mistakes, they are also more likely to succeed. A good business plan requires the entrepreneur to address all the challenges he or she will face and visualize exactly how he or she will achieve his or her goal. Through this process, the entrepreneur will improve his or her understanding of the opportunity ahead and better prepare him or herself for success. This is why banks and investors almost always require the entrepreneur to develop a detailed and professional business plan.

Why can’t I write a business plan myself?

Even if you have an outstanding business background, it can take months to process relevant market research, model your financial projections and synthesize all your data to complete an impactful business plan. It’s much more effective for you to focus on developing your business while leveraging outside experts to write an efficient business plan and gain unbiased perspective into your business. By using The Plan Writers, we will identify new opportunities and challenges for which you can prepare. Finally, we subscribe to top dollar academic literature to which you would most likely not be privy. The research reports alone are usually worth more than the business plan you are paying for!

Who are the writers and what are everyone’s qualifications?

We spend a tremendous amount of time head-hunting quality writers that meet our standards and fit into our company culture. Any writer that is on our payroll will have an MBA and/or at least 5 years of professional work experience. This is to ensure you have the most knowledgeable business plan writing service for your business.

Have you worked in our industry?

There will most likely be someone on our team that has prior business experience in your industry. Chances are, we probably have already written a business plan similar to your business. Does this mean that we ever recycle material? No! We not only personalize every business plan, but you will also be able to leverage all the best practices and trends we’ve discovered. The bottom line is that we all come from diverse backgrounds and are passionate about working through different business models.

What’s the success rate with your business plans?

We often time get asked this question and have to set the proper expectations. As writers, we absorb, guide, and convey your vision to help guide your success. Ultimately, it is up to you to recognize if you have the resources, expertise, and determination to accomplish your goal. An investor or bank may not fund your business plan. However, we can promise you that it will never be rejected because of us.

NFT Business Plans & Pitch Decks

While cryptocurrencies have been present for more than a decade since the debut of Bitcoin in 2009, the phenomena of Non-Fungible Tokens (NFTs) have gained up just now. These unique cryptographic tokens generated on solid blockchain networks like Ethereum and TRON are valued at several millions of dollars due to tremendous demand from investors. Let's have a look at the business plan of the NFT Marketplace.

A well-organized NFT marketplace lies behind the surge in transactions for buying and selling these crypto collectibles. It efficiently manages all of the trading operations of investors. Axie Infinity, Decentraland, OpenSea, NBA Top Shot, Rarible, Sorare, and SuperRare are just a few of the well-known NFT selling platforms.

Many experts in their latest report mentioned something called the "hype cycle" that defined the maturation of new industries and products. Among them, nonfungible tokens, or NFTs appeared at the top of the curve. However, there are arguments suggesting that NFTs have not reached the peak point but are more in the “Innovation Trigger” stage. So, when considering the NFT business plan, it should be understood that this technology’s commercial viability is still in the development phase.

NFT business

How to make money?

It's time to learn about the industry, how to create an NFT business plan, and how to make money using NFTs. We all understand that the goal of any business is to make money. A business model aids in the formation, development, and maintenance of a company. The most popular way for enterprises to make money in this ecosystem is by selling NFTs. Because there is abundant demand for virtual goods, this business model is an unequivocal and undeniable choice. And as per the latest reports, it also performs admirably. As previously stated, the most common approach for companies in the NFT ecosystem to generate revenue is through selling NFTs directly to users. Video game producers and creators, for example, have already entered the NFT market. The revenue generated by the NFT business accounts for the majority of the total revenues. Experts believe that selling NFTs directly to customers will generate revenue in the near future.

Low marginal cost

Virtual trading cards or comics have a lower marginal cost of manufacture and dissemination than traditional physical trading cards or comics. While both need upfront expenses for designers, selling assets through a digital channel saves thousands of dollars in printing production costs, as well as the time and effort required to manage retail channels to get products into stores. Converting digital artwork into NFTs necessitates paying "gas fees" to mint tokens on a blockchain, which can cost up to $150, as well as a tiny monthly subscription charge, which varies depending on which platform or marketplace you choose as an outlet.

Limitless potential

Intellectual property rights are also important to consider, however, this is still a developing field. Because there is no legal precedence in the United States for NFT ownership, a number of significant questions about authors' retention of commercial rights and future licensing are still being contested or refined, says the experts. Finally, the ecological impact must be taken into account. The Ethereum network, which generates as much carbon as some small countries, is where most NFTs are traded and exchanged. That's large because the decentralized consensus technique it uses to validate transactions, known as proof of work, necessitates a lot of computational power. Companies, as well as individual artists, may face backlash or loss of sales from environmentally concerned clients.

Improved customer engagement

It is possible to increase the customer base with NFTs because it involves dealing with the digitally native generations of the companies. Experts believe that this can foster a positive impact on customer retention and also create a spillover effect that can work perfectly for sports teams and have more people involved in it. And, it can create a recurring revenue potential for the company.

Know the Risks

So, what's keeping your organization from joining the NFT bandwagon? Even a believer like me realizes that the industry is in its infancy and is largely unregulated. To begin with, not all NFTs are the same. Yes, the ownership certificate kept on the public blockchain ledger is immutable and unforgeable. It's important to understand, though, that this token is only a link to a digital file stored on a server. And not every server is the same.Link rot, which occurs when hyperlinks break, is a severe issue. This usually occurs when the target file is relocated to a new server without the connection being updated, or when the server goes down. Keep track of where the digital file is stored when making or purchasing an NFT. The likelihood of the NFT being lost increases dramatically when it is stored on a local server. A public cloud storage solution decreases this danger, but a decentralized server is even better. You should also make sure the token's metadata is saved on a decentralized server.