I need a business plan to set up a consultancy business. How should I get started?
I am looking for information on how to start putting together a plan.
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Aug 5, 2014
It need lot of time to explain in short give me all input and i will give you complete plan ,and believe me you get positive result
Feb 13, 2014
Juna
(1) hit the streets .... network and evaluate the business and competitive environment.
(2) attend Chamber of Commerce "networkings"
(3) do the "due diligence analyses": industry, market, environment --- as well as your "creditworthiness" to pursue different funding sources
Elaine
Feb 10, 2014
Business plan? http://www.startupbusinessloans.com/research/create-a-winning-business-plan-get-that-start-up-loan-quickly/
Really make a business plan? Sit down and gather your thoughts. How would you start a consultancy business if you don't know where to begin?
Meditate. Think. Write down your thoughts. Ask yourself important questions and answer them. That's a good start at least.
Details? The more detailed your questions the more detailed answers you will get.
Feb 9, 2014
Many new start ups fail because they don't have a robust business plan: good to see you want to start there.
To help people just like you, after you have the fundamentals sorted out, is exactly what this course was designed for and will get you fully engaged in the "online" brand marketing and lead generation space. check it out at http://brands-marketing-and-business-plans-on-becoming-a-consultant.com/
Feb 9, 2014
First thing you do is research your market and decide whether your business is commercially viable, ie will you have customers and will you know their needs
Next, check whether you have or can hire the skill sets to service your customers needs (technical viability)
Thirdly, you need to figure out your revenues and costs and see whether you will be making a profit (financial viability) and what your funding needs are
Lastly, you need to figure out whether you or your employees will have the management skills needed to run the company successfully
Then slap it all together into a coherent document with supporting appendices that include 3 to 5 year financial projections.
Business planning is quite simple but requires attention to detail that takes a lot of time.
If you need more, message me privately for a discussion
Feb 6, 2014
There's some very good advice on here, already. I won't repeat it.
But I haven't seen anything about the Core of your Business - Are you already, or are you hoping to become, a Consultant ? And in what Field/Business Sector ?
I ask this because several people start up Businesses which they believe will be popular, but are not sufficiently experienced themselves and expect to outsource work. That's far to dangerous.
On the other hand, already being a Consultant can narrow your focus, and that, too, is dangerous.
I recommend careful discussions with people in the Business Sector who are Consultants, and also your potential Client Base. That should give you a better idea of how to target your Business Plan, by being Informed before you start the process.
Good Luck.
Feb 6, 2014
Juna... come on... that's it? That's your question? No other details?
Just about everyone who has answered your Q shares a tremendous amount of information about their background in the MHub profile...
Secondly, you're asking hard working and experienced people to share not just their advice but their time...
and You? Nothing. You haven't completed your profile nor have you given any kind of background to your question. What's up with that?
A general question will solicit a general answer... If you want specific answers so that you can achieve specific results... your going to have to give more info.
"I need help hiring a consultant for my business. How should I get started?"
Who can honestly asked that question? What kind of business. Start up? Established? Mature? Exiting? Franchising? Licensing? US? Canadian? EU? Revenues? Debt? Investors? Staff? Culture? Values?
...imagine I went to a restaurant and the server said, "what can I get you?" A: "It doesn't matter, I just want to be full."
Just saying... :)
Feb 6, 2014
Before investing the time in creating the business plan, followed by a website, business cards, etc. have you considered validating the business?
Try to obtain 1-2 paying clients, from there you can build your plan and know exactly where you are going.
Unless you are applying for grants, or a loan it is unlikely that you will need a business plan to get started.
Feb 6, 2014
I always suggest you read 8 to 10 business plan outlines from different sources (Table of Contents). This does not take long. It gets your head used to seeing: Description, Ownership, Goals, Customer Profile, etc.
Then read 2 or 3 fully written plans - each from different authors. Then sit down and make your own table of contents and start to write.
They take time. If you have trouble making progress, set aside blocks of 2, 4, 6, 8 hours of time on your calendar - you are making apptmts with yourself.
Good Luck
Charlene
www.PlansAndProfits.com
www.BusinessPlanWritingClass.com
Feb 6, 2014
One of the best templates I have used successfuly with hundreds of leaders who put together their first business plan is available on the internet. The Small Bussiness Association (SBA) has a very detailed model you can follow that will facilitate deep thinking on what you should be analyzing before you start a business. It is generic from the standpoint that it can apply to any business.
It may be more than you need, but I suggest you take a look at it as a road map.
Feb 6, 2014
Then I suggest that you get: Guidebook to Planning - A Common Sense Approach, available on Amazon in soft cover. Specifically, for a consultancy you need to calculate how many billable days you will have in a year, which on average is about 150 days. Then you need to determine how much money you need to live or break-even for a year. Divide that number by the 150 days and you have your daily fee. Then the question is: how can you justify it, get enough clients to pay the fee, and determine how you are going to market your services. These are the fundamental ingredients for any business plan: where am I now, where do I want to be, and, how am I going to get there = your business plan.
Feb 6, 2014
Begin with a Market Research to see if your hypothesis will stand on its 2 legs as a Need/ Want in the Market. If Yes, then that itself will provide you with a platform to commence writing a B-plan. Essentially you will need to answer How, What, Where, When, By whom
Feb 6, 2014
Besides a business plan, I recommend a survey of the potential clients and customers you would like to have.
It is essential to know how well you are fulfilling what is most desired and required by the people you desire to help and their willingness to pay for your services.
By doing this, along with a business plan, you will be sure to offer relevant, income-producing services and products that help people in their life and work.
Feb 6, 2014
If you are in the US, check out the US Small Business Administration website, SBA.Gov. They have the tools you need.
You can also talk to your local SCORE chapter and if you are a veteran, the Veterans Business Outreach Center for your area.
You can also buy Business Plan Pro from Palo Alto Software or use their LivePlan product online.
Feb 6, 2014
Hello Juna,
For many entrepreneurs a business plan is one of the most daunting challenges that they can face. On the other hand, I have seen people with little entrepreneurial skills that are able to put together great looking business plans (and charge accordingly), but all of that typing is really not required. Unless you are asking for money (funding - and you can look at other articles in my site), keep it simple (KIS Principle). For yourself you can get away with a One Page Business Plan - Here is a link to an article that I wrote about it -- http://wp.me/p3vX7l-2S
Feb 6, 2014
You might also check with the Small Business Administration, which has a number of free and useful resources for business planning and business management.
Feb 6, 2014
I like business plans, but they can very quickly digress into an useless exercise, where you get lost in all the details and math and fail to answer the real fundamental questions. If you are the entrepreneur, I would start by answering the following questions.
1. Why am I starting this business?
2. What am I hoping to accomplish?
3. Who are my core clients and why would they hire me versus my competitors?
4. Is my competitive advantage sustainable?
5. What will the average job / project look like and how much will I earn from the work?
6. How will I generate new clients at a profit?
7. Will I hire staff and if so, why would they work for me when there are so many other excellent companies as alternatives? Where will I find these people?
8. Is this a lifestyle business or do I plan to grow it and eventually sell it?
9. How do I plan to finance the business?
10. What skills (do you lack) that are most likely to trip you up as an entrepreneur and how will you address these gaps?
Once you can answer these fundamental questions, a business plan is a pretty straight forward process.
The key is to do the business plan for yourself first. Make it a tool to help you design, build and grow your business, not simply a "to do" task for your bank or your backers.
You can buy business planning software at any office supply store to aid you with the formatting and structure of the plan. The challenge is in thinking through the strategy and mechanics of your business.
I always find it helpful to work with an advisor or coach, as they can really streamline the process for you.
Feb 6, 2014
There are definitely a ton of free resources that can help put one together. My question to you would be how are you going to use it? If the plan will be presented to investors, partners or banks than you should go down the typical path. If the plan is going to be used as a tool and road map for what you are going to accomplish then quality supersedes quantity. I would also suggest that you start with the end in mind, meaning reverse engineer your plan based on your long term goals and work your way back.
Feb 6, 2014
There is a good bit of software that gives you a lot of info and help - business plan pro, Barclays bank use this for there business banking customers and it's not very expensive.
Depending on your initial business and organisation model you can also go for the old fashioned approach and find a client and go from there, they will never ask for a plan.
Feb 6, 2014
There are many online sources for business plan available through Google search.
In general you need the following,
a) Executive Summary - mission statement
b) General description of your Company's objectives
c) Your products and services
d) Marketing Plan, including target market, market analysis, competitive analysis, pricing model
e) Operational Plan
f) Management and Organization
g) Financials including start up expenses, capitalization and personal financial statement.
If you need help with your plan, please private message me.
Good luck with planning, it's an essential tool for getting started and validating your idea and vision.