business plan consultant

business plan consultant

Benefits of Hiring a Business Plan Consultant

1. Introduction

This is because the basics of a business plan are simple and easy. Most people do not need a professional to do it for them. The bulk of a business plan professional’s time is spent on market research, feasibility studies, and financials; tasks that are tough and probably take an entrepreneur who is new to these tasks 4-5 times longer than an experienced business plan professional. This is where the true value of a business plan consultant comes in. An experienced consultant is able to effectively help a new business owner or an entrepreneur through a dialogue, determine if he is truly prepared to execute the business, and if the business model is solid.

If you go on to search for a business plan professional or consultant online, you will find that the cost for hiring one usually is around $70 to $200 per hour. For in-depth plans, it can take anywhere from 400 to 700 hours. As an entrepreneur, this is a huge amount of money and time to invest in someone else’s ideas when you yourself have an idea that you think is worth pursuing. Whether or not you have the funds and the fortitude to engage in such an endeavor, the truth is that an overwhelming majority of successful business owners and entrepreneurs do not risk it.

2. Expert Guidance

There are numerous advantages to working with a professional business plan writer. One of the biggest advantages has to do with the experience of the consultant. A good business plan consultant is experienced in the development of business plans. An experienced consultant can quickly draw attention to any weak areas in the plan and take care of any issues. This is particularly important if the business owner is trying to gain funding. A professional consulting service will be skilled in matching the right type of plan with the right audience. A business plan for a small internal project is not the same as a plan for an investor. Using a cookie cutter business plan template or following the advice of a non-professional will not match the plan with its intended audience, thus lowering the chances of a successful funding. Another benefit is the ability of the consultant to work with the business owner. If the owner has any doubts or is uncertain about a section of the plan, the consultant can provide valuable insight and help to structure the plan in a way that is more cohesive. Usually, a business owner is very emotionally attached to his business and can have trouble viewing it objectively. The guidance of someone more experienced and the possibility of an objective point of view could be the difference in a successful venture and an unsuccessful one.

3. Comprehensive Analysis

For the new start business, there is nothing more important than reviewing and revising the basics. The business should be clear about which kind of business it should be, i.e. it should have a clear idea about the goals, whether to start a business for growth or might have a plan to sell it after some years, what is the mission of the business, and who are the target clients. The consultant should encourage the clients to build up a successful business in the short as well as long term period. The consultant should base his ideas on the business owner for making the business more flexible and sustainable. The analysis should cover all aspects of the possible contribution of the idea to the project and its comparison. If some idea is strong, then it should search for alternative ways. The idea’s contribution should be rated as how feasible it is. This activity comes under the business-to-business session. All this analysis will figure out the best possible way to apply the idea in a project.

Comprehensive analysis for any project can be competitive, complex, and time-consuming. It is most important in project management to set it on the right pace and direction. It helps to find out the strategies and tasks to compete, how effective the strategy would be, and to what extent the results can be expected. While figuring out a solution, it is always needed to be the best possible way that ends with the desired results. The other important thing for a project is the resource. It helps to determine how many resources the project is going to use. Any business plan is also a project with the same competitive complexity and requirements. The business plan consultants are responsible for a comprehensive analysis of each and every step in the business, which should be within the framework of the business plan. Analysis is important to determine where you are and planning to go. The main purpose of analysis is to set a direction.

4. Tailored Strategies

Your business plan is often the unsung hero in providing businesses with the direction and confidence required to move forward. For new businesses, all that stands between a directionless failure and a path to success is often the right information at the right time. A section in the previous version of this page entitled “You need a business plan” was addressing this issue. So what is the best course of action to get your business on the right path with the right information? Ongoing advice can be solicited in a number of fashions, the most common being a business plan review. This is ideal for companies who have or intend to produce a plan, but can’t afford or don’t see the necessity for full-time consulting. Prices for plan review vary widely, and you generally get what you pay for. Think about how much it costs to get a vehicle through a warrant of fitness these days, and what happens when it fails. A cheap plan review is the equivalent of inspecting a client’s 25-year-old jaguar with a can of CRC and saying “she’ll be right”. High-quality business plan review is an iterative process with much questioning and debate aiming to reveal the true motives and direction behind the plan, often leading to changes in the future course of action.

Entrepreneurs, particularly those behind a successful business, are as different as pebbles on a beach. In much the same way, successful strategies and tactics vary widely from one company to another. While reusability of a business plan is an attractive proposition, savvy consultant often utilizes examples and ideas from past successes to strengthen their advice to the client. The older the company, the more effort necessary to steer it in a new direction. In some industries small changes can cause large ripples throughout the company, in others it is best just to throw in the towel. The overall is the entry can be summarized on the ongoing work with the chartered statement of intent.

5. Increased Success Rate

Hiring a business plan consultant will increase your chances of being successful. According to a recent study, businesses that take the time to write a business plan increase their chances of success by 50%, as compared to those who did not. One of the hardest things about getting your business off the ground is organization. The business plan is a great way to get your whole organization down in one place. A consultant can help you see your business from your customer’s perspective. This will enable you to see things you wouldn’t normally. A business plan is a “blueprint” for your business. How would you feel about building your home without a blueprint? You probably wouldn’t do it because it is very risky. The same goes for your business; it’s very risky to not write a plan. Would you go into a very important game with no game plan? I doubt it. This is the same as going into your business with no plan. The chances of failure are very high.