Each day of the year new businesses are born and, with those businesses, come business plans that either generate profitability and long-term growth or failure after a few short months. If you are considering starting a company as a business plan consultant, you already know the essential tools necessary to create a winning business plan; however, in this article we are offering six steps to build a thriving consultancy with the added perspective of long-term growth and personal wealth investment as the end result.
Steps to Become a Business Plan Consultant
Step 1 Research Your Target Audience
As you consider who your clients may be, think about those who are in need of a business plan. For example, those who recently acquired a business license probably need a business plan and those who post a social media announcement about their new business need a plan, as well. Also, a word-of-mouth conversation can lead to someone you’d like to assist. You’ll want to search for the touchpoints where new business owners congregate and consider your prospects overall. Learn who will want help with a business plan and what kind of help you should include. The answers will narrow your scope in targeting the best prospects for your business.
Step 2 Analyze Competitors
After defining your target audience, begin the search for your competitors. Check directories and online outlets that may offer business plan consultants and ask professionals about consultants in your regional area. Consultants often speak at conferences and trade shows; you’ll want to attend and gather information about your competitors from those events, as well. Determine how much the consultants charge for the creation of a business plan, and determine what offerings and services are included.
After tabulating the results of your analyses, review your target audience and assess your competitors to decide the unique and different ways your consultancy will be set apart from others. Will you offer additional services at a discounted rate? Will you include a 6-month or 1-year review of the business plan? Devise the unique offerings of your business to set your consultancy apart from all others.
Step 3 Create a Business Plan
Your primary focus and effort in launching a business plan will be in the formation of the essential objectives, as in securing funding and creating financial projections; including your target audience and competitor analysis; preparing your marketing strategies and building your online presence. You’ll also want to include the operational and organizational processes for the initial startup and growth phases of your business.
A well-crafted plan will identify your goals and objectives and include measurements that will define progress. If you need a comprehensive plan, consider using this business plan consultant template as a guide. And, when complete, your business plan will be ready for presentation to investors or lenders, as needed.
Step 4 Secure Funding and Develop Financial Projections
Most business plans are developed primarily to secure funding from investors, lenders, banks or other lending institutions. Whether or not you require funding to start your business plan consultant business, you’ll want to fully develop your own business plan to jump ahead of any future needs for capital or fund-raising. With your completed business plan in hand, you’ll be able to present your startup idea to any investor.
While considering financial projections for your business plan consultant business, you’ll also want to plan for your personal wealth investments. We suggest this concept as a means of diversifying profits and investing in your own well-being; over time, you’ll have a strong accrual of personal wealth investments.
Step 5 Create Marketing Strategies
As a business plan consultant, you’ll want to personally meet with as many entrepreneurs and startup business owners as possible. Offer to speak at community events or conferences and attend trade shows to create visibility overall. Develop a creative website that is interactive via a blog, Q & A section, weekly 5-minute video sessions or other offerings of interest to business owners. Use email blasts to announce new services to your clients and to offer partnering services with other professionals. All of these efforts will successfully build your clientele over time.
Step 6 Prepare the Organizational Structure
If you are starting your business as a sole-employee business plan consultant, you’ll want to outline the equipment, furnishings and supplies needed for operations. You’ll also want to forecast future personnel additions, added locations, and other projections as markers of progress during the growth of your company.
As a business plan consultant, you can start and grow your business successfully by investing in research, analysis, creation of a business plan, funding, forecasting of personal wealth, and marketing your services. Starting a business plan consulting business is challenging; however, with attention to building your business, you can create a company poised for long-term growth, personal wealth investment, and a hearty amount of success along the way.
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