When Do You Need to Hire a Business Plan Consultant?
For business starters, a business plan is considered a very essential tool to define the strategies that will be used in running the business and to get funding. A business plan is meant to be read especially by any companies offering financial services, such as banks, financing companies, and other companies that are thought to be keen in funding the business. Your business plan is expected to be attractive enough for your audiences if you truly want to get something from it.
When writing your business plan, you may work alone or hire a business plan consultant to assist you. You have to know the right time to hire the consultant to make sure that you know all jobs that you should hand to your consultant. By knowing the jobs that you should handle yourself and those that you should hand to your consultant, you can work on your business plan more efficiently and cost-effectively.
Know What You Should Write in Your Business Plan
There are two essential elements that your business plan must have.
- Executive Summary
Not all of your audiences are willing to read your business plan entirely. Audiences as such usually prefer to read the executive summary and conclude their opinion about your business by simply weighing the attractiveness and quality of your executive summary. It should be written as concisely as possible. Being concise means it is made as brief as possible and it unmistakably state the goal of your business. If you are requesting funding, write in your executive summary your business’s mission statement, detailed information and financial statement. If your business is introducing a new product or service, write about your market research and your findings.
- Marketing Plan
Marketing plan convinces your audiences that your business is different and very likely to succeed. In your marketing plan, you should write about how your product or service is not only different from, but also better than your competitor’s, your pricing policy and how attractive it will be for customers, and how you distribute and promote your product or service.
How Your Customer Assists You?
You can write your business plan and hand the written business plan to your consultant so that she can rewrite and revise it. You can also discuss with your consultant when you have to add analytical contents to your business plan so that she can help you deal with the analyses. If you can keep your consultant busy, you have made your hiring of her a cost-effective step.