Business Plan Consulting: When to Get Expert Help with Your Plan
There are many reasons to seek out the help of business plan experts to help you with your plan. This can be for anything from researching, writing, and editing the entire plan to answering specific questions about a plan you've already created. Here are a few situations in which a consultant could be a great help.
You don't know investors or what they want
When you don't know where to begin to look for investors or what they would want to see in your plan, talk to a business plan consultant. This is the type of specialized knowledge which good business plan consultants should have. A business plan consultant should be able to point you in the right direction as to what type of investors you should seek (angel investors, venture capital, family and friends, etc) and what requirements these types of investors generally have. The earlier you seek this type of advice, the more time you can save by developing your plan the right way the first time.
You don't know how to research the market
If you are having a difficult time figuring out where sources for market research, a business plan consultant can help. They know the best resources, reports and databases to use, and may even have access to case studies of businesses to model yours on. If you can outsource a good deal of the research to the consultant it can be preferable as they can be finding a good deal of the information needed in the same time it takes to describe where to look. However, make sure the consultant will document all of their findings for you clearly so you can use the data even beyond what is used in the final plan.
You have specific questions about strategy
Finally, for specific questions about your general, marketing, or operations strategies, a business plan consultant will have experience to back up their recommendations. They may be able to steer you away from difficult courses of action by asking the type of questions which investors or lenders inevitably will when they read your plan. Hearing this feedback early on can significantly improve your chances of getting funded.
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