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The entrepreneur has the sole responsibility for preparing the business plan. He is accountable
for the thorough preparation and presentation of the plan to the readers. He has to own the
process of preparing the plan and not delegate it to some one else. He understands the
vision for the business, so it only makes sense that he be the architect of the business plan.
It doesn't matter if he is using the business plan to seek financial resources or to evaluate
future growth, define a mission, or provide guidance for running the business; he is the one
who knows the most about the business. Consultants can be hired to assist in the process
of formulating a business plan, but in reality, the entrepreneur must do a majority of the
work. Only he can come up with the financial data, the purpose of his business, the key
employees, and management styles e.t.c. He may still choose to use a consultant, but at the
same time he should realize that the bulk of the work lies on him. If he needs further help in
one area, then he may seek the assistance of an expert in the respective field.
Kavungya answered the question on April 12, 2021 at 15:21
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