The business plan is the foundation of your investor package. However, most entrepreneurs are too busy with other priorities — such as developing products, finding customers, and recruiting a team — to prepare a compelling business plan. Most of our consultants have hands-on experience starting and growing their own businesses. Let us help you.
But most business plan templates were written for retailers, manufacturers and other employers — not consultants.
That plan will have to cover funding, growth, pay rates, expenses, marketing, equipment costs, training and qualifications. Consulting business plans are a little different to other business plans. Who are you writing the plan for? This is an important question to ask yourself before you start.
For most conventional businesses the answer will be "For the bank and investors. But consultants setting up their own business might not need much funding — if any.
A good business plan will combine elements of both finance and strategy, but the contents will vary depending on the target audience. A business plan for banks and investors You may not need funding for capital equipment expenses or office rent.
But you might need a loan to tide you over for the first few months, until you have a regular cashflow. The initial period for any new business can be a tough time — money worries will just make it tougher. You may also decide that you want to make more of an impression by hiring office space, perhaps in a shared office environment.
Whichever method you choose, any potential investors will want to see the important numbers. Target market and sector analysis Business objectives and USP unique selling proposition Startup expenses and assets, including equipment Overheads and fixed costs Funding requirements, loan collateral and cost of interest Pay rates, revenue and cashflow projections Sales forecasts in monthly intervals Ongoing expenses Growth projections and strategy.
Some of this information will be difficult for you to estimate. It might be even harder for you to present clearly. Use your accounting software to help with figures and to produce professional tables and charts.
Then, an accountant can help you include the right information in your plan. A business plan for you Of course, you might not need any funding. Perhaps you have enough savings to keep you going for a few months and clients already lined up. Or you may be starting your consulting career after an inheritance or unexpected windfall.
That means making sensible predictions and setting goals for yourself, not just financial targets — though you should include those too.
The purpose of creating a plan is to help you concentrate on what you want to achieve. Some points to consider include: Reasons for being a consultant Why are you doing this? Write down all the reasons you can think of, then read them back.
Do they sound convincing? Make sure you know your true motivation, as it will help you focus on your goals. Savings Consulting can mean you have an irregular income. Sometimes you might be busy, other times less so.
Relationship risks Think about the impact of consulting on your family or friends. Consultants often work irregular hours, sometimes from home, and they might be in the office at weekends. That can put a strain on relationships. Be realistic about this and set boundaries around when and where you will work.
Look for clients who are reliable, as they will help make your business a success. How will you stay up to date?Sample consulting business plan – An outline of some of the key pieces that should be in your plan, including an executive summary, business overview, risks, financial plan, and other key sections for your consulting company business plan.
A Sample Business Consulting Firm Business Plan Template Are you about starting a consulting business online? If YES, here is a complete sample business consulting firm business plan template & feasibility report you can use for FREE.
Business Plan Pro software comes with more than complete sample business plans for all sorts of company types. «Back to business plan .
But crafting a business plan for your new consulting company doesn't mean you should stick to the average template you can find online, as you should spend your time focusing on the elements that. Growth Management and Strategies business consulting business plan executive summary.
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