Serious entrepreneurs usually turn to business plan consultants. A specialist will assemble an objective financial and marketing model, conduct market research and analysis, and formulate or refine your business growth strategies. 

The Role Of A Business Plan Consultant Explained.  


With so many online materials on creating a business plan, you may wonder why companies still hire a Fort Lauderdale business plan consultant.

Let's face it:

Each business is unique. As such, following the general ready-made templates may not work for your company. A professional consultant can help create a custom, viable plan that considers the specifics of your business.

Their role is not just about creating a marketable written document that enables you to secure a business loan or bring investors on board, though.

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A business plan consultant will be there every step of the way to support your journey to achieving the set goals. You can count on them to provide various solutions. For instance, they will periodically review and test the effectiveness of your plan.

That way, they can make sure the business plan is up to date with the latest industry trends or any other changes. Updating a plan is imperative, as it helps you strategize and stay relevant in the market.

Running a business without a well-thought-out business plan is like operating an aircraft with malfunctioning navigational instruments. You won't know whether you're moving in the right direction. Experts can make a difference in your business processes.

Well, read on to learn more about what Fort Lauderdale business plan consultants do.

1. Listen to your business ideas
Initial discussions help the consultant to understand your requirements and what you need to achieve. They will collect as much information as necessary to write a viable business plan.

Consultants may have unique approaches to working with clients, but many allow the face to face meetings. They can, of course, work via conference calls and videos.

2. Do independent market research and analysis
Market research and analysis is a vital part of any business plan. So, your consulting agency will embark on this critical process after the first meeting. They can perform research using surveys, interviews, shadowing, reading reports, and more.

The idea here is to develop a good understanding of the various facets that affect your business now and in the future. Consultants will consider factors, such as customers, competitors, products/services, trends, and the overall market.

The consultant will keep you updated throughout the entire process. In fact, they may schedule a few additional interviews with your business team and stakeholders to make sure everything turns out just right.

After thorough market assessments, the professional consultant will formulate strategies and tactics that align with your business objectives and goals.

3. Draft a pitch deck
If one of the reasons you need a business plan is to seek a round of financing from investors, a consulting firm can help draft an impressive pitch deck.

This investor presentation will be reviewed with you and then shared with all your business parties. The stakeholders must agree on the bigger picture.

A typical pitch deck will have the following elements:

Problem
Solution (products/services)
Team
Market
Traction
Competition
Financials
Requested amount

However, many gaps are likely at this point of crafting a business plan. Your consultant will use placeholders and add facts, figures, and financial projections as soon as they are available.

They can also give you tips and insights on how to deliver a winning presentation. Since this is something consultants frequently do, they can share the common fundamental questions investors usually ask. And, of course, tell you the best way to address them.

4. Fill in the details of the business plan
The consulting agency will ensure you agree on every piece of information to include in your business plan. Any new professional suggestions are subject to your approval. Using your unique ideas, the firm will word and format the plan objectively in a way investors or lenders expect.


5. Determine the key performance indicators (KPIs)
Key Performance Indicators demonstrate the effectiveness of a plan. KPIs have a measure, target, data sources, and reporting frequency. The consultant tracks them to tell if you're on the right track to achieving your organizational goals and objectives.

There are several KPI sources. Examples include

Number of contracts signed
Growth in revenue
Gross and net profit margin
Rate of inventory turnover
Percentage of market share

The business plan consultant provides the performance reports at a specified period. It can be at the end or beginning of a financial year or as per your agreement.



6. Recommend solutions for improvement
Plans cannot always be spot-on. While the idea is to hit the target and exceed expectations, sometimes the results can deviate from this. There should be a provision for margin of deviation.

In case performance reports show an unexpected deviation, your Fort Lauderdale business plan consultant can make necessary recommendations to ensure you stay on course.

Recommendations do not come only when a business is making negative progress, though. Through regular review of your accounting, budgeting, and marketing plan, consultants can provide practical improvement solutions. They can locate and bring new opportunities, allowing you to, for example, tap into new markets.

7. Update your business plan periodically
Businesses are continually changing. Therefore, your business plan should be a living document. In other words, you must ensure it evolves with your company to reflect the direction of your business.

A consultant can sketch the plan periodically to adapt to changes, which might affect your business. They can provide ongoing professional support, depending on your needs. They will keep you updated on current trends, as well as recommend realistic business growth strategies.

Save Yourself Time, Money, and Stress
Many would instead do it on their own than hire a Fort Lauderdale business plan consultant. The apparent reason behind this is to avoid additional costs. Unfortunately, that's not always a good idea. Most companies even end up turning to professionals.

Contrary to popular belief, consultants can save you money and time. They write business plans every day. They know the structure, elements, and terminologies to make your business plan stand out.

Experts are also well-versed in what interests financial backers the most. By leverage their years of experience, they can help you stick to facts and figures that make you look credible in the eyes of investors or lenders.

Please make sure to attend
, a workshop designed to help guide you through the business planning process. This program is guaranteed to deliver more business knowledge in the space of a workshop than most people get with an advanced college business degree.