The role of the business plan consultant
What knowledge is necessary to write a good business plan? Why hire a consultant to register your business plan? What are the responsibilities and missions of a business plan consultant? What qualifications and skills should a business plan consultant have?
Business plan expertise
As an official document describing the project’s operational, financial, and marketing scope, the business plan requires particular expertise for its drafting. A level of knowledge blends rational thought, practical experience, in-depth and current business creation, and development knowledge. This is how an expert or consultant who demonstrates professionalism in the matter can intervene to prepare your business plan. It provides advice and assistance to assess your current risks, establish long-term strategies and mobilize financing, whether fundraising or a bank loan. In sum,
BUSINESS PLAN: UNIQUE KNOW-HOW
From the business creation phase to its maturity, passing through the market study, launch, and growth stage, the business plan constitutes the common thread and the basic document for judging the feasibility of the entrepreneurial project. And thus have a complete view of all of its performance indicators. It also allows the company to define its operational, financial, and commercial objectives and attract new investors. It appeals to fundamental principles which The need to reflect in its structure and content. However, professionals tolerate leeway as long as objectivity, transparency, and honesty are required.
The business plan writing process requires rigor and creativity. It mobilizes deep knowledge in management and, in particular, in finance and marketing. However, a lack of understanding of the drafting process or subjectivity that carries the forecasts to excess misleads the entrepreneur. This is due to information that does not reflect the reality of the structure, unattainable goals, and unrealistic projections. Therefore, requesting the services of a business plan consultant is essential.
REQUEST THE SERVICES OF A BUSINESS PLAN CONSULTANT
Thus, to mitigate the consequences of the absence of a business plan or errors during its development, we suggest that you request the services of a business plan consultant. Indeed, the presence of a professional in the field has several advantages, in particular:
- A consultant’s critical and independent eye ensures an objective and rational analysis of your project and releases reliable financial and commercial performance indicators while proposing improvement actions regarding the weaknesses observed.
- A consultant knows what the interested parties, e.g., banking professionals or suppliers, expect from you and adapts his analysis, editorial, and forecasts accordingly. In this case, the financing file’s rejection risk is minimal!
- The consultant objectively judges the feasibility of your project and operationalizes the creation and capture of value;
- You also benefit from a critical eye from the consultant about your practices. He does not hesitate to expose your weaknesses and to suggest corrective actions to eliminate them as well as preventive measures to prevent their subsequent reappearance or the appearance of new others;
- You benefit from a tailor-made service to guide you throughout the life of your business, from the launch or takeover phase, through the growth phase to reach maturity. Even in the event of a decline in activity, the entrepreneur can always request a consultant to rectify his situation and regain his balance;
- The consultant develops a marketing plan for you in the business plan, which gives you a vision of the state of the market, the target customers, the different catchment areas, the positioning of your products or services as well as the competitive climate;
- And finally, the consultant prepares the financial forecast for you to describe your project in figures based on economic indicators that allow you to project the project into the future through short-term and long-term forecasts. These indicators will enable you to formulate your tactical, operational, and strategic actions.
By doing so, you manage to control your growth, know the actions to prioritize, and situate yourself in your sector of activity. Thanks to the business plan consultant who demonstrates increased responsibility, we can also say that your entrepreneurial adventure is on the right track!
WHAT ARE THE RESPONSIBILITIES OF A BUSINESS PLAN CONSULTANT?
The consultant must acquire the analytical components required for the right approach to his work to assist his clients successfully. He should be capable to
- Do careful research and analysis to fully understand the current state of your industry, including investigations around products/services, customers, competitors, and overall market trends. In short, he is supposed to have an integral vision of the investments to be able to intervene with an increasingly varied clientele;
- Understand stakeholder perspectives and expectations. By doing so, he makes it possible to adapt his intervention to the requirements of the latter to convince them to align themselves with the interests of his clients;
- Prepare a detailed financial analysis that includes economic assumptions, tables, and forecasts to judge the current and future financial health of the company;
- Define the direct and indirect competitors of the company’s current and future activity, including potential future competitors;
- Determine a marketing strategy that targets a particular clientele and gives a credible position to the products/services within the market;
- Define a better organization of human resources and the structural framework of the company.
Thus, a business plan consultant as an expert in his field of activity establishes a diagnosis, researches, and proposes solutions to improve the functioning of your company and accompanies you in implementing his recommendations. The expertise he demonstrates to his clients stems from the training and experience he has accumulated during his career.
SKILLS AND QUALIFICATIONS OF THE BUSINESS PLAN CONSULTANT
The business plan consultant has both academic training in the field and proven experience in the area. The job requires specific prerequisites, such as:
- Academic training in finance, marketing, or any other managerial field;
- Significant professional experience in business and marketing strategy and financial management, including financial planning, forecasting, and analysis. Experience as an advisor or executive in a company will be a plus;
- Advanced computer skills, including pro-management software and office pack;
- Knowledge of all economical sectors and entrepreneurship projects;
- A tendency to constantly improve one’s know-how and interpersonal skills;
- Curiosity and rigor in research, analysis, and synthesis of information;
- Great writing and communication skills;
- Ease relationships with employers, managers, and employees in a business setting. Click here for more info.
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