Consulting for business plan
Market analysis —who you are in the business of serving. Business description and methodology—nature, scope, and limitations of your service; company ownership. Strategy and implementation—your market positioning and competitive strategies. This applies to any commercial as well as nonprofit organizations.
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And unlike service companies, you're not employing a team of people to provide solutions. As a consultant, you will be paid for the skills, knowledge and abilities you've developed over your career. But having decided to become a consultant, what's the next step? Like all new small businesses, you'll need a plan. That plan will have to cover funding, growth, pay rates, expenses, marketing, equipment costs, training and qualifications. It will also have to cover your goals, and the strategy you'll use to reach them.
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The company summary in a business plan —also known as the company description or overview—is a high-level look at what you are as a company and how all the elements of the business fit together. An effective company summary should give readers, such as potential investors, a quick and easy way to understand your business, its products and services, its mission and goals, how it meets the needs of its target market, and how it stands out from competitors. Before you begin writing your company summary, remember to stick to the big picture. Other sections of your business plan will provide the specific details of your business. The summary synthesizes all of that information into one page.
Editor's note: This article was excerpted from our Consulting Business start-up guide , available from the Entrepreneur Bookstore. The dictionary defines a consultant as "an expert in a particular field who works as an advisor either to a company or to another individual. But unless you've been in a coma for the past decade, you probably have a good idea what a consultant is.
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