Consulting Business Plan Template

Written by Dave Lavinsky

consulting firm business plan

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their consulting businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a consulting business plan template step-by-step so you can create your plan today. It can be used to create a business consulting business plan, a management consulting business plan or any other type of consultancy business plan.

Download our Consulting Business Plan Template here

What Is a Consulting Firm Business Plan?

A business plan provides a snapshot of your consulting firm as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Consulting Firm Business Plan

business consultants

Source of Funding for Consulting Firms

With regards to funding, the main sources of capital raising for a consulting business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a consulting business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

Sample Consulting Business Plan Template

Your business plan should include 10 sections as follows:

Executive Summary

consultant meeting with prospective clients

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of consulting business you are operating and the status; for example, are you a starting a consulting firm, or do you have a consulting business that you would like to grow?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the consulting industry. Discuss the type of consulting business you are operating. Detail your direct competitors. Give an overview of your target market. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of consulting business you are operating.

For example, you might operate one of the following types:

In addition to explaining the type of consulting business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

Industry Analysis

consultant work

While this may seem unnecessary, it serves multiple purposes.

First, researching the consulting industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your consulting business plan:

Customer Analysis

The customer analysis section of your consulting business plan must detail the clients you serve and/or expect to serve.

The following are examples of customer segments: Corporations, Federal Government, Nonprofits, Consumers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of consulting business you operate. Clearly,  nonprofit organizations  would want different pricing and service options and would respond to different marketing promotions than the federal government.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the business sizes and types, or consumer ages, genders, locations, and income levels of the clients you seek to serve.

Psychographic profiles explain the wants and needs of your target audience. The more you can understand and define these needs, the better you will do in attracting and retaining your clients.  

Competitive Analysis

consultant meets with a prospective client

Direct competitors  are other consultants and consulting firms.

Indirect competitors  are other options that customers have to purchase from that aren’t direct competitors. This includes doing it themselves and in-house expertise among others. You need to mention such competition to show you understand that not every company or consumer engages a consultant.

With regards to direct competition, you want to detail the other consulting businesses with which you compete.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

operations consulting

Product : in the product section you should reiterate the type of consulting business that you documented in your Company Analysis. Then, detail the specific consulting services you will be offering. For example, in addition to IT infrastructure consulting, will you also offer an IT Security component?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the consulting services you offer and their prices.

Place : Place refers to the location of your consulting business. Document your location and mention how the location might impact your consulting success. For example, maybe your consulting business is located in an office complex with lots of potential clients.

Promotions : the final part of your consultant marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider as a consultant:

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes  include all of the tasks involved in running your consulting business such as serving clients, prospecting new clients, procuring supplies, keeping the office clean, etc.

Long-term goals  are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th client, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or open a new location.  

Management Team

financial advisory

Ideally, you and/or your team members have direct experience in the consulting business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in consulting businesses and/or successfully running small businesses.

Financial Plan

business planning

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 5 clients per month or 25? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your consulting business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a consulting business:

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your consulting business plan more compelling. For example, you might include your office design blueprint or location lease.

Putting together a business plan for your consulting firm is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the consulting business, your competition, and your prospective clients. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful consulting business.  

Finish Your Consulting Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your consulting business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed consulting business plans for thousands of companies that have gone on to achieve tremendous success.

Click here  to see how Growthink’s  business plan consulting services  can create your business plan for you.

Consulting Business Plan FAQs

What is the easiest way to complete my consulting business plan.

Growthink's Ultimate Consulting Business Plan Template allows you to quickly and easily complete your Consulting Business Plan.

How Do I Download a Free Consulting Business Plan PDF?

You can download our consulting business plan PDF template here . This is a business plan template you can use in PDF format.

Other Helpful Business Plan Articles & Templates

Business Plan Template & Guide for Small Businesses

Consultant Foundation

Write the Ultimate consulting business plan in 10 steps [2022 Edition]

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

Are you eager to launch your consultant business?

Are you contemplating how to begin?

Are you lost and are thinking about how to write an effective business strategy for your consultancy company?

If so, I’d like to inform you that my situation was similar to yours a few years ago. I was not sure the best strategy to take. I tried in-person conferences, social media, podcasting, and other tools. However, I wasn’t able to achieve the results I expected in the end. My efforts weren’t moving in the proper direction.

After a while, I realized that missing hyperlink. I realized that before launching an enterprise, a solid plan was necessary. I wrote down my strategies and plans. The guide is in-depth that I used, and I am taking the same steps.

Are you interested to find out what my business plan was about? How did I create an  successful business consulting  plan? How did I make the most of my experiences?

This morning, I’m thrilled to share my business consulting plan.

Do you recognize the major distinction between successful and people who fail?

The most successful people are those who do things that they don’t would like to do because they are looking for the benefits they get from doing those things.

You can read  How to Create an Consulting Business  in order to learn guidelines to begin your own consulting business.

Consider taking a month, or an entire day away from your routine and relax. Inhale it all. Then, think about a plan of action. At first, it might not be a good idea. However, once you’ve done it, you will see amazing results. The efficiency and productivity of your business will be able to show huge growth.

Let me tell you a brief tale-

A monk was scaling a mountain, and he was looking to contemplate at the summit. On his way to the top of the mountain, he saw the man was cutting down the branches of a tree. In a short time, the monk paused. He began to watch the man for a while before moving on.

After four hours, he set off back to the bottom of the mountain. While he was on the way to the top, he encountered the same person again. But he was still cutting. The monk was astonished. He put the man’s shoulder and said:

“Excuse me, sir? What if you took time to make you Axe?”

The man responded that he had not enough time for it. He also said that he needed to cut off the tree. He didn’t want time sharpening the Axe.

What does this story tell?

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

It is important to plan your time properly and can speed up your development.

I’m not going to get too deep into a philosophical discussion. Let me share the things I have done.

Making a business plan for consulting template can be a difficult job for those who don’t have a background in business. Don’t worry, I’m here to help you with this. I’ll assist you in creating an effective business plan for consulting.

Before I get started, I’ll clarify what a business plan is and why it is vital.

Consultant business plans are extensive document that outlines what you’re planning to accomplish according to your mission and vision. It outlines the methods to employ to meet the goals you have set. It’s a blueprint that provides you with a road map that must be followed in order to accomplish your business consulting goals.

Why is it so important?

When you start your own consulting company for yourself or as an organization, it is crucial to create a consulting plan outline. At first, you can write an easy business plan with the help of professional business plan writers.

Let’s say that you are a life coach A  life-consulting  business plan created by you will allow you to identify the most important factors that ensure your consulting business is successful.

It will be professional and will give you a path to achieve your goals as a consultant.

The plan that I’m going to provide is a straightforward consulting business plan to help you in creating the business strategy of your choice. The plan is not intended to solicit money from banks or investors. Investor financing will require extensive financial information regarding your business.

So, let’s get started. The most important aspects of a consulting business plan are the following elements:

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

Whatever you have in mind for your business must be explained within this segment. Do you need to answer a few questions here to start your  consulting business plan. Why you’re starting your consulting business?

What are your goals for your consulting company? Are you looking to change the consulting business? What will you do differently from the rest?

It is imperative to write about the above in order to demonstrate your business shrewdness. This will help you determine the best way towards achieving your goals and keep you focused.

It is a source of energy and motivates to bring about change. vision is a visual representation of your vision or idea that you wish to realize by establishing your business.

When you’ve outlined your business’s vision, you’ll create a mission statement that will define your company. The mission is the purpose of your venture, and it is essential for the business plan you are consulting.

Mission plays an important role in that this word with seven letters determines our professional and personal life.

When you are in this area, you’ll need to know your goals and be prepared to answer the questions below.

What changes do you wish to make in order to attract people?

What are you looking to do to help others by implementing your consultancy program?

Who will profit through your programs?

Are you driven to create transformation through your venture?

Consider these questions and attempt to answer them. Then, you’ll be able to visualize your goal.

3.Business Description

In this section, to ensure that potential customers are aware of your business. It is crucial to highlight your business’s niche, services and products in your consultation business plan.

Set your Niche

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

In this section, you must select the area of your consulting business. The consulting industry will provide an accurate image of your company. It will assist you in determining your product and service too.

Beginning with life-consulting and health consultation to executive consulting and career counseling. The list of possibilities is endless. Find out what you are passionate about and then start.

If you’re still unsure and unable to identify your niche, read this post,  the ultimate guide to Finding Your Niche in Consulting, and you’ll find your niche very soon.

Create your Services

For instance, let’s say that some clients need detailed plans whereas others just want advice. To be able to attract more clients, you must provide at least two different levels of services.

Many consultants offer different consulting sessions, such as one time in a week, twice, or even thrice during the week. Customers can choose the consultation sessions based on their needs.

Set your Billing methods

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

Are people able to pay via electronic payment? What happens if you pay by check? How long do they have to pay before they can be offered? You must define how the payments will be handled in your business plan for consulting.

Create your site

I didn’t design an elaborate website. I simply highlighted the ways I can assist my customers. Be sure to add your licenses and certifications. Testimonials are like putting an extra cherry on the cake. It can affect people significantly. Get a web developer on board too. Do you want visitors to reach you directly via your website? If so, the correct address is essential.

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

4.Target Market

Next, you must conduct thorough research about the intended audience. This is a crucial aspect to consider in the development of any  consulting business strategy . There is no need to consult with everyone. Take a few minutes to survey your clients and determine who requires your consultation sessions.

What can you do about this?

The first step is to ask questions such as:

Are you in a business field that is suited to students in college who are looking for an employment opportunity?

Does it apply to business leaders who wish to increase their revenue?

Are they only for women who want to work at home?

I found my ideal client by answering these questions. This allowed me to develop marketing strategies in a more efficient way. I was able to direct my message to a particular segment of people. In addition, I was able to create specific courses and workshops.

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

5.Marketing Strategies

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

What techniques are effective?

What will people think of you?

Are you able to make the sales/marketing on your own?

Do you wish to nominate an individual to do it?

What sales strategy will you use? What is the best way to show to your team of salespeople?

How do you create a successful marketing strategy?

These are the main aspects that I recommend that you follow on a regular basis.

Once you have identified your ideal clients, you can try to find them using your marketing and sales strategies. To do this, you have to create offline as well as internet-based  advertising strategies  within your business consulting plan.

How do you plan to get your message out to clients?

When I first started my own business, I reached my prospective clients with intro letters, flyers, and brochures. It was mostly done to raise awareness about the company.

I’m sure that finding the first customer is one of the most difficult jobs. Utilize both professional and personal networks to assist. For instance, you could offer the possibility of free 15 or 30 minutes  consultation sessions . This will encourage others to test using your services for consulting.

I was able to see how important it is to make connections. So, I planned an event. The invitation was sent out to everyone who was close or friends, as well as anyone I could possibly target. At the time of the event, guests interaction was conducted. I spoke about my company and my services.

It was crucial that I participate in different seminars and exhibitions. In this way, I could get my company into the spotlight. I could also establish relationships with other participants.

The next step was to promote the business in public areas. So, I placed details about the business in cafes, libraries and the like.

For my online audience, I made use of various social media tools, such for example Facebook as well as Twitter. Utilizing Google Ads is also an excellent marketing tool.

In order to rank higher on search engines, I designed my site to be search engine-optimized.

At some point, I began writing articles for well-known newspapers and magazines. Start a blog or compose articles to other websites and publications with tips that will assist you in getting exposure and building credibility.

Finally, I utilized the referral tool that made it easier to grow my business.

I set up an online forum for clients. The group was regularly updated. The members were given an invitation to join the groups with other members. This helped me eventually grow my business.

But, during this entire process, remember who you’re serving:

At times, for instance, one-on-one sessions areas if I am carrying a weight upon my shoulder. I have to commit a lot of time.

I have often encountered executives that wanted to get away from technology. Therefore, for these people, the online applications did not perform. I employed some storytelling techniques.

However, people grieving didn’t enjoy lengthy talks. Therefore, I made simple and short online programs.

Based on the clientele, The marketing strategy is developed to help you in attracting your customers and expand your operations.

There is a common string that is suitable for both online and offline marketing, and that’s “Consulting Certification’. First of all, it isn’t mandatory, but it could assist you in improving your company.

So, I included this in my business plan for online consulting.

It helped increase both credibility and the ability to sell. I had the chance to discover new skills. Beyond that, I could also be charging more.

You must have experience and expertise in the field you’d like to work as a consultant in. This is based on personal experience. However, you should consider additional training to improve your expertise.

If you’re looking for more tips on marketing, study How to advertise my  consulting business  to increase the size of my business.


You must be aware of your competition as this will provide clarity on the degree of competition.

It is important to think about the best way to make your business apart from the competition.

What are the things you can offer that others aren’t able to provide?

The expert suggested me study competitors to get information. Furthermore, he said, spend time researching what they offer?

How much do the webmasters charge?

Which are the strengths of HTML0?

I looked into the way my competitors market themselves. But I wasn’t going to be the same.

It was my turn to determine what I could offer superior to others.

I was aware that career consulting was something I was able to excel at. I began to brainstorm ways to distinguish myself from my competitors. Next, I implemented consultation calls and developed a sales strategy.

What can I do to enhance the meaning of it? How can I differentiate? Therefore, I needed to choose what was my distinctive selling feature (USP).

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

7. Organization Planning

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

What is the structure for managing your company?

Consulting business plans involve the definition of the organizational structure. This is followed by roles and roles.

It started out with just a handful of people. However, over time, it became massive. Luckily, I had designed the structure prior to. The process became easier.

My assistant consultant was hired. At this point, my client base increased by a third. I was able to earn passive income by hiring them. I fixed a percentage of the fees for myself. This is the way to expand your business. In this section, you will need to answer questions such as:

Do you require ambassadors to help promote your consulting company?

Do you have employees or partners?

How many people do would you like to employ? Who will be able to assist you in running your company?

What type of business consulting do you wish to establish? I have had a number of individuals who assisted me in expanding my business. With a proper plan, I was able to achieve more impressive results. According to my experiences, a business plan assists in hiring the right type of employees at the appropriate date.

8. Material and equipment requirement

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

When I set out to promote my business, I outlined the types of equipment needed to begin my business plan for consulting.

I knew that video conferencing was going to be a part of my job. Therefore I downloaded the necessary software and then purchased a top-quality headset.

Some consultants record conversations and distribute them to clients to go over the call. Do you not think this helps in gaining clients over time?

To do this, I purchased an audio recorder. It records audio and video calls, as well as allow clients to access the recordings.

4 Truths about the Building of a Consulting Business  will provide you with an insight into the most difficult aspect of consulting business.

9.Financial Planning

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

The next step is your budgeting plan. Without funds, a company can’t grow, and a consultancy business plan is not complete without this.

I came across several consultants who were charging a low cost when they started a new business. They felt their experiences were not as good. So, they charged less. Are you sure that this is a good thing? They might receive more work, but they are unpaid. Do you enjoy working for a client when you’re paid less?

The experience taught me to structure the structure of my fees. I was able to confidently request the price based on my worth. I was trying to stay clear of clients who enjoy bargaining.

Then, you must sketch out your financial plan.

You must include the following items in the model:

Cost of starting  Do you require to lease office space? What is the price of the lease? Do you require a computer or internet connection?

Projections of the financials  What do is required to be included in the profit and loss statement?

Investment via investors  Do you need an investment to fund your company?

Find out if your target audience is able to afford your price? What is the average amount that your target audience makes each year?

In the beginning, I advised a handful of college students. Also, there were young professionals. I made the wrong choice. Why? It’s because neither of these groups would be able to pay for me my present  consultant fees .

I realized that I was off. So, I immediately re-defined my target audience. I targeted executives as well as salespeople and CEOs who were able to afford my prices.

This is the thing I think about when I plan my financial budget. I set my rates in line with the audience I want to reach.

Find out how to  sell high-end consulting packages  to attract high-end customers.

10. Timelines

It is important to establish timelines for your company. Business planning must be executed according to these timeframes and monitored periodically.

Write the Ultimate consulting business plan in 10 steps [2022 Edition] consulting business

I drew five distinct timelines for my consulting business plan, and they’re like this:

Annual planning

Create your annual plan. I make sure to devote time and focus to my annual goals. For instance, where will I see my company within the next year?

My annual plan is comprised of both my business and personal planning and planning my life. It is because everything is interconnected at different levels.

Quarterly Planning

This is a process of regular check-ups. I mark all my meetings in my calendar for the year ahead.

I strive to make these dates an absolute priority. I do not let anything interfere in the way of my plans and am prepared with solutions for any challenge.

Monthly planning

I used to be at the beginning and the close of every month for about an hour. This included checking the most important projects for the coming days.

Weekly planning

I used to conduct weekly plans on Friday afternoons due to the fact that I was lazy on weekends. The week ahead, I jotted down my priority items.

There were questions that I asked, such as “How to allocate time to meet my weekly commitments?”

Daily planning

This eventually became my routine. In the past, prior to leaving for work each day, I would review my prioritization for the following day. I set aside 10 minutes to keep track of my progress each day.

If I’d achieved anything, I’d be proud of it.

Consider what you could consider being proud of? Take note of the things you accomplished. It inspired me to do my best on the following day.

In the end, after all the preparations and accomplishments in your life, you’ll find yourself feeling like you’re behind others. There will be self-doubts, and doubt your abilities. It is time to work on your internal growth.

You must develop the abilities in order to grow your business. A skilled consultant doesn’t necessarily guarantee great success as a consultant. Therefore, despite having high value for my business, it often fell flat. It was depressing. Then I began to think about the following questions:

Which is my weak point in the business of consulting?

One expert asked me about the process I am using in improving my skills as a consultant. How do I know if I’m engaging the right people? Do I have plans for the kinds of events I’d like to accomplish? If not, why not? How can it be implemented?

It was at this point that I realized that in order to build my business, I needed to improve on my weaknesses as well. It took self-control.

What do you do when your excitement about starting a consultancy business fades? If you don’t meet your objectives. Imagine if a bunch of ants stopped creating anthills. Are they capable of forming a colony? No. Therefore I decided to focus on my plan consistently.

The moral of the tale:

You can get a consultation business plan that is less complicated. I didn’t include too many services and products. There’s no need to include 47 different methods to market your company.

That’s all there is to it.

What do you think? What’s your plan for the business?

Do you think it is focused or complex?

Find out if you can find the most important aspects of your plan and arrange. If you can do this correctly, then you’re on the right path.

2 thoughts on “Write the Ultimate consulting business plan in 10 steps [2022 Edition]”

This article was very simple and easy to follow. Extremely helpful. Just starting out so needed this kinda help.

Hi J Dawn, I’m glad you got great value from this piece. And since you are just starting out, the webinar would be extremely helpful to you so do register

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5 Ways a Business Development Consultant Helps You Grow Your Business

Alejandra Zilak

Alejandra Zilak | May 26, 2021 | Business Development | 6 min read

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5 Ways Business Development Consultants Help Grow Businesses

What brought you into the world of sales? 

For many people, the answer comes down to passion. They found something they love to do and decided to dedicate their lives to doing it. Or maybe you were just tired of your previous career and wanted a change. Whatever the reason, at some point, all sales professionals face the same challenge — trying to figure out how to increase profits. 

Hiring a business development consultant can eliminate a lot of the guesswork and help you invest money and resources more efficiently. But, what exactly, does the position entail? How do you know if it’s time to get one? And how can you make sure you’re hiring the right person for your business needs?

What Is a Business Development Consultant?

A business development consultant will take a detailed look at your company’s operations to identify its strengths and weaknesses. Their main goal is to find opportunities for growth.They can help you develop a viable business strategy and advise you on how to proceed with marketing campaigns and sales initiatives. 

What a Business Development Consultant Does

The role of a business development consultant will vary depending on your industry, whether you’re B2B or B2C, and on your company’s specific goals. Generally, their duties include: 

A good business development consultant will design a narrowly tailored strategy to help you overcome the challenges your business is facing. And if your company is already successful, they can help you identify additional growth opportunities. In other words, they show you the money . 

When Do You Need a Business Development Consultant?

While it’s common for a business to barely break even during its early stages, you want to make sure you’re doing everything within your control to bring in revenue. Or maybe you have a business that’s been successful in the past, but new technologies and the way consumers do business have evolved while your business model has remained outdated. Signs that you would benefit from hiring a business development consultant include: 

You Have an Unhealthy Sales Pipeline.

Your sales pipeline refers to where in the sales process a lead or prospect is currently located. The reason why this is important is that your approach when communicating with that prospect will depend on where they are in their buyer’s journey . If you don’t have enough people in the pipeline to begin with, you will never hit your marketing goals. 

You Are Attracting Low Quality Leads.

Speaking of marketing goals, you want to focus your efforts on high quality leads. This is one of the biggest challenges businesses face.

For your efforts to stand a chance, you need to create awareness of your goods or services to people who are ready, willing, and able to open their wallets. A good business development consultant will help you identify the right leads , determine the best way to connect with them, and be proactive about closing that sale. 

Your Processes Are Outdated.

Once upon a time, door-to-door salesmen could sell vacuum cleaners. Would that approach work for you today?

You could have the crème de la crème of sales people, but if your marketing efforts are reminiscent of rotary phones and ordering by catalogue, you will always fall short. A good business development consultant will know which cutting-edge processes work best for your specific industry and help you implement them.

Your Marketing and Sales Teams Aren’t Aligned.

A marketing strategy has to be cohesive. Team members need to be communicating with each other so that they can act in concert.

Everyone has to have the same buyer persona in mind, keep consistent messaging, and follow up with each other as a lead moves through the sales funnel . This can be achieved by regular team meetings and by using an effective customer relationship management (CRM) system. A business development consultant can walk you through the process of how to maximize these tools. 

Your Sales Team Is Underperforming.

If your sales team is consistently underperforming, maybe the problem is that they’re either poorly trained or are using old sales tactics that are obsolete today. While it’s important to hire the right people, it’s also crucial to provide them with effective sales tools .

A business development consultant can provide one-on-one training designed to leverage technology for your type of business and your specific goals. 

You Are Not Tracking Key Performance Indicators.

In order to know where you’re going, you need to know where you’re standing right now. And the only way to do that is by measuring key performance indicators — such as traffic to your website, the sources of traffic, engagement data, lead conversion rates, and sales, to name a few.

These analytics show you how and where you’re underperforming, so that you can invest your time and energy in improving them.

5 Ways Business Development Consultants Accelerate Revenue

A business development consultant will accelerate your company’s revenue by providing you with a marketing and sales plan that is specific, measurable, attainable, realistic, and timely. They do so by: 

1. Creating Awareness of Your Brand

You can provide the best services or products in your industry, but if your target market isn’t aware of them, nobody’s going to buy them. A business development consultant will ensure that your marketing efforts end up in front of the right people — those who have a pain point you can solve. 

2. Engaging Visitors and Leads

Engaging with visitors and leads shows them you are listening to them — you know what ails them and you’re proactively moving the needle to make things better for them.

Engaging also helps you establish relationships with prospects. But you want to make sure you’re fostering the right kind of relationship — one that’s not salesy, annoying, or tone deaf. A business development consultant will provide you with a plan to do this effectively. 

3. Nurturing Relationships 

Sometimes, a person isn’t ready yet to buy your product. But they’re interested in what you have to offer and are educating themselves for future reference.

Nurturing your relationship with them can include providing them with relevant information, useful free content, and timely follow-ups. But who has the time to come up with all of this when you have a business to run? A business development consultant, that’s who.

4. Personalizing Touchpoints 

A one-size-fits-all approach doesn’t exist in marketing or sales. Not only do you need to customize your campaigns to your buyer persona, you also need to communicate with contacts within the context of their buyer's journey.

Are they a visitor researching their options? A qualified lead? An existing customer? A business development consultant will help you personalize each communication and exceed the recipient’s expectations.

5. Analyzing Data

A business development consultant will analyze data throughout all stages of your marketing and sales campaigns. This process will highlight what works well and help them identify areas that can be improved in the future. It also helps you better understand user behavior and how to keep them interested. 

How to Hire a Business Development Consultant

You can either hire a business development consultant to work in-house at your company, or you can contact a marketing agency to outsource the services.

The pricing will depend on your business needs, the scope of the services, and whether you agree to an hourly rate or a service package . Scheduling an initial call can be as simple as booking one online. Once you work out the kinks and sign that contract, get back to doing what you love, and watch your business grow. 

click here to download the business development playbook

Alejandra Zilak

Alejandra Zilak is a content writer, ghostwriter, blogger, and editor. She has a bachelor's degree in journalism and a Juris Doctor. She's licensed to practice law in four jurisdictions and worked as an attorney for almost a decade before switching careers to write full time. She loves being part of the Bluleadz team and implementing SEO best practices with her content. When not working, she loves to read, write fiction, and long distance running.

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Business Development Consultant Job Description

Business development consultants review existing company processes to ascertain areas for improvement. Business development consultants use insights obtained from these and other analyses to formulate profit-boosting strategies.

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Business Development Consultant Job Description Template

We are looking for a resolute business development consultant to identify and capitalize on opportunities for our firm. The business development consultant will be required to study existing procedures and formulate appropriate strategies that facilitate our expansion. Throughout this process, you should be acutely aware of our company's position within the field, working to consolidate this by using the resources at your disposal.

To ensure success as a business development consultant, you should be skilled at executing strategic business plans. A remarkable business development consultant should be able to produce tangible results in even the toughest of markets.

Business Development Consultant Responsibilities:

Business Development Consultant Requirements:

Related Articles:

Business development associate job description, business development director job description, business development consultant interview questions, business development associate interview questions, business development director interview questions.

Joe Pope

Your business development strategy can be key to the success or failure of your firm. In this post, we’ll explore how to create a strategy and associated plan that can propel an individual, a practice or an entire firm to new levels of growth and profitability.

Business Development Defined

Business development (BD) is the process that is used to identify, nurture and acquire new clients and business opportunities to drive growth and profitability. A business development strategy is a document that describes the strategy you will use to accomplish that goal.

The scope of business development can be wide ranging and vary a lot from organization to organization. Consider the model of how professional services organizations get new business shown in Figure 1.

business development funnel

Figure 1: The three stages of the business development funnel

The first two stages of the model, Attracting Prospects and Build Engagement, are traditional marketing functions. The final stage, Turning Opportunities into Clients, is a traditional sales function. In the traditional role, business development would be looking for new channels of distribution or marketing partners.

But roles are changing and naming conventions evolve. In today’s world many firms refer to the entire marketing and sales process as business development. I know, it can be confusing. So let’s sort it out a bit.

Business Development vs. Marketing

Marketing is the process of determining which products and services you will offer to which target audiences, at what price. It also addresses how you will position and promote your firm and it’s offerings in the competitive marketplace. The result of all this activity should be an increasing awareness of your firm among your target audience — and a stronger flow of qualified leads and opportunities.

Free Download: Getting Back in the Game: A Playbook to Help Professional Services Firms Win Under “The New Normal”

Historically, business development has been a subset of the marketing function that was focused on acquiring new marketing or distribution relationships and channels. While this role still exists in many companies, the business development title has become interchangeable with many marketing and sales functions.  

Business Development vs. Sales

Sales is the task of converting leads or opportunities into new clients. Business development is a broader term that encompasses many activities beyond the sales function. And while there is some overlap, most traditional BD roles are only lightly involved in closing new clients.  

Business development is often confused with sales. This is not too surprising because many people who are clearly in sales have taken to using the title of Business Developer . Presumably this is done because the organization believes that the BD designation avoids some possible stigma associated with sales.

Nowhere is this practice more prevalent than in professional services. Accountants, lawyers and strategy consultants do not want to be seen as “pushy sales people.” This titular bias is firmly rooted despite the fact that developing new business is an important role of most senior members of professional services firms.

Since so many clients want to meet and get to know the professionals they will be working with, the Seller-doer role is well established in many firms. The preference for Seller-doers also tends to discourage firms from fielding a full-time sales force.

As an alternative approach to leveraging fee-earners’ time, some firms have one or more Business Developers on staff. In the professional services context, these folks are often involved in lead generation and qualification, as well as supporting the Seller-doers in their efforts to close new clients. In other organizational contexts, this role might be thought of as a sales support role.

The result of this confusing picture is that many professional services firms call sales “business development” and make it part of every senior professional’s role. They may also include some marketing functions, such as lead generation and lead nurturing, into the professional’s BD responsibilities.

It is this expanded role, where business development encompasses the full range of lead generation, nurturing and sales tasks, which we will concentrate on in this post.

See also: Heller Consulting Case Story

Business Development Examples

To be clear on what this role entails, let’s consider this business development example:

Bethany is the Director of Business Development at a fictional mid-sized architecture firm. She is not an architect herself. Nor is she involved with any aspect of delivering the projects that the firm has signed. Instead, her role is exclusively focused on signing new business for her firm—with either new clients or existing ones. 

For new clients, Bethany spends much of her time responding to RFPs, communicating directly with inbound leads generated by the marketing/sales enablement team, and nurturing potential clients that she met at a recent industry conference. Bethany also collaborates with the marketing team in the development of new materials she needs to sell to new accounts.

When it comes to existing accounts, Bethany also has a role. She meets monthly with delivery teams to understand whether current client projects are on scope or if change orders are needed. Moreover, she maintains a relationship with key stakeholders of her firm’s clients. If another opportunity for more work opens, she knows that her relationship with the client is an important component to that potential deal.

In this example, Bethany is the primary driver of business development but that does not mean she is doing this alone. Imagine she has a colleague Greg who is a lead architect at the firm. While Greg’s first focus is delivering for his clients, business development—and even marketing—should still be a part of his professional life. Perhaps Greg attends an industry conference with Bethany, he as a speaker and expert and her as the primary networker. The business development dynamic should not end with Bethany and should permeate the whole organization.

In this business development example, you can see that the range of roles and responsibilities is wide. This is why it is essential for business development to not be ad hoc, but done strategically. Let’s talk about that now.

Strategic Business Development

Not all business development is of equal impact. In fact a lot of the activities of many professionals are very opportunistic and tactical in nature.This is especially true with many seller-doers. 

Caught between the pressures of client work and an urgent need for new business they cast about for something quick and easy that will produce short term results. Of course this is no real strategy at all.

Strategic business development is the alignment of business development processes and procedures with your firm’s strategic business goals. The role of strategic business development is to acquire ideal clients for your highest priority services using brand promises that you can deliver upon.

 Deciding which targets to pursue and strategies to employ to develop new business is actually a high stakes decision. A good strategy, well implemented, can drive high levels of growth and profitability. A faulty strategy can stymie growth and frustrate valuable talent.

Yet many firms falter at this critical step. They rely on habit, anecdotes and fads — or worse still, “this is how we have always done it.” In a later section we’ll cover how to develop your strategic business development plan. But first we’ll cover some of the strategies that may go into that plan.

Top Business Development Strategies

Let’s look at some of the most common business development strategies and how they stack up with today’s buyers .

Networking is probably the most universally used business development strategy. It’s built on the theory that professional services buying decisions are rooted in relationships, and the best way to develop new relationships is through face-to-face networking.

It certainly is true that many relationships do develop in that way. And if you are networking with your target audience, you can develop new business. But there are limitations. Today’s buyers are very time pressured, and networking is time consuming. It can be very expensive, if you consider travel and time away from the office.

Newer digital networking techniques can help on the cost and time front. But even social media requires an investment of time and attention.

The close relative of networking, referrals are often seen as the mechanism that turns networking and client satisfaction into new business. You establish a relationship, and that person refers new business to you. Satisfied clients do the same.

Clearly, referrals do happen, and many firms get most or all of their business from them. But referrals are passive. They rely on your clients and contacts to identify good prospects for your services and make a referral at the right time.

The problem is referral sources often do not know the full range of how you can help a client. So many referrals are poorly matched to your capabilities. Other well-matched referrals go unmade because your referral source fails to recognize a great prospect when they see one. Finally, many prospects that might be good clients rule out your firm before even talking with you. One recent study puts the number at over 50%.

Importantly, there are new digital strategies that can accelerate referrals. Making your specific expertise more visible is the key. This allows people to make better referrals and increases your referral base beyond clients and a few business contacts.

Learn More: Referral Marketing Course

Sponsorships and Advertising

Can you develop new business directly by sponsoring events and advertising? It would solve a lot of problems if it works. No more trying to get time from fully utilized billable professionals.

Unfortunately, the results on this front are not very encouraging. Studies have shown that traditional advertising is actually associated with slower growth. Only when advertising is combined with other techniques, such as speaking at an event, do these techniques bear fruit.

The most promising advertising strategy seems to be well-targeted digital advertising. This allows firms to get their messages and offers in front of the right people at a lower cost.

Outbound Telephone and Mail

Professional services firms have been using phone calls and mail to directly target potential clients for decades. Target the right firms and roles with a relevant message and you would expect to find new opportunities that can be developed into clients.

There are a couple of key challenges with these strategies. First they are relatively expensive, so they need to be just right to be effective. Second, if you don’t catch the prospect at the right time, your offer may have no appeal relevance — and consequently, no impact on business development.

The key is to have a very appealing offer delivered to a very qualified and responsive list. It’s not easy to get this combination right.

Thought Leadership and Content Marketing

Here, the strategy is to make your expertise visible to potential buyers and referral sources. This is accomplished through writing, speaking or publishing content that demonstrates your expertise and how it can be applied to solve client problems.

Books, articles and speaking engagements have long been staples of professional services business development strategy. Many high visibility experts have built their practices and firms upon this strategy. It often takes a good part of a career to execute this approach.

But changing times and technology have reshaped this strategy. With the onset of digital communication it is now easier and much faster to establish your expertise with a target market. Search engines have leveled the playing field so that relatively unknown individuals and firms can become known even outside their physical region. Webinars have democratized public speaking, and blogs and websites give every firm a 24/7 presence. Add in video and social media and the budding expert can access a vastly expanded marketplace.

But these developments also open firms to much greater competition as well. You may find yourself competing with specialists whom you were never aware of. The impact is to raise the stakes on your business development strategy.

Combined Strategies

It is common to combine different business development strategies. For example, networking and referrals are frequently used together. And on one level, a combined strategy makes perfect sense. The strength of one strategy can shore up the weakness of another.

But there is a hidden danger. For a strategy to perform at its peak, it must be fully implemented. There is a danger that by attempting to execute too many different strategies you will never completely implement any of them.

Good intentions, no matter how ambitious, are of little real business development value. Under-investment, lack of follow through and inconsistent effort are the bane of effective business development.

It is far more effective to fully implement a simple strategy than to dabble in a complex one. Fewer elements, competently implemented, produce better results.

Next, we turn our attention to the tactics used to implement a high-level strategy. But first there is a bit of confusion to clear up.

Business Development Strategy Vs. Tactics

The line between strategy and tactics is not always clear. For example, you can think of networking as an overall business development strategy or as a tactic to enhance the impact of a thought leadership strategy. Confusing to be sure.

From our perspective, the distinction is around focus and intent. If networking is your business development strategy all your focus should be on making the networking more effective and efficient. You will select tactics that are aimed at making networking more powerful or easier. You may try out another marketing technique and drop it if it does not help you implement your networking strategy.

On the other hand, if networking is simply one of many tactics, your decision to use it will depend on whether it supports your larger strategy. Tactics and techniques can be tested and easily changed. Strategy, on the other hand, is a considered choice and does not change from day to day or week to week.

10 Most Effective Business Development Tactics

Which business development tactics are most effective? To find out, we recently conducted a study that looked at over 1000 professional services firms. The research identified those firms that were growing at greater than a 20% compound annual growth rate over a three-year period.

These High Growth firms were compared to firms in the same industry that did not grow over the same time period. We then examined which business development tactics were employed by each group and which provided the most impact.

The result is a list of the ten most impactful tactics employed by the High Growth firms:

There are a couple of key observations about these growth tactics. First, these techniques can be employed in service of different business development strategies. For example number seven on the list, speaking at targeted conferences or events, can easily support a networking or a thought leadership strategy.

The other observation is that the top tactics include a mix of both digital and traditional techniques. As we will see when we develop your plan, having a healthy mix of digital and traditional techniques tends to increase the impact of your strategy.

Business Development Skills

Now that we have identified the key business development strategies and tactics, it is time to consider the business development skills your team will need. Business development skills require a broad range of technical skills but there are some that make a difference.

When the Hinge Research Institute studied marketing and business development skills in our annual High Growth Study , we found that the firms who grow faster have a skill advantage within their marketing and business development teams.

business development consultant business plan

Let’s dive into the top three skills from this list. 

The number one business development skill high growth firms enjoy are strong project management skills. And for experienced business development specialists, this makes good sense. Staying organized, accurately tracking business development activity, and managing accounts are essential for building and maintaining strong business relationships. Activities like the proposal development see business development team resources manage and produce a strong proposal quickly, including the right stakeholders, and without sacrificing quality.

The next most important skill is simplifying complex concepts. In business development conversations, it is vital that team members are strong communicators of your firm’s service offerings and capabilities. Those who are able to take a comlex scope of work and communicate it in a way that a potential buyer can understand. Speaking in industry jargon or overly complicated charts is a fast way to see a business lead become unresponsive. Therefore, it is no surprise to see that the fastest growing professional services firms have an advantage in communicating complex information in a way that buyers understand.

The third most important business development skill is face-to-face networking. Despite the hiatus of many in-person events, high growth firms still reported that strong networking skills are a top skill enjoyed by their firms. Strong face-to-face networking skills are as much of an art as it is a science. While some can be more charismatic than others, everyone can prepare their teams with the resources and plan they need to succeed in a networking environment.

Review the other business development and marketing skills in the figure above and determine which skills your team should aim to develop. Strategy development for planning your business development plan, research for understanding the competitive landscape and industry trends, and social media prowess all play an important role in business development, too. Developing these skills should be a key priority of your business development team.

How to Create Your Strategic Business Development Plan

A Business Development Plan is a document that outlines how you implement your business development strategy. It can be a plan for an individual, a practice or the firm as a whole. Its scope covers both the marketing and sales functions, as they are so intertwined in most professional services firms.

Here are the key steps to develop and document your plan.

Define your target audience

Who are you trying to attract as new clients? Focus on your “best-fit” clients, not all possible prospects. It is most effective to focus on a narrow target audience. But don’t go so narrow that you can’t achieve your business goals.

Research their issues, buying behavior and your competitors

The more you know about your target audience the better equipped you will be to attract their attention and communicate how you can help them. What are their key business issues? Is your expertise relevant to those issues? Where do they look for advice and inspiration? What is the competitive environment like? How do you stack up?

Identify your competitive advantage

What makes you different? Why is that better for your target client? Are you the most cost-effective alternative, or the industry’s leading expert? This “positioning” as it is often called, needs to be true, provable and relevant to the prospect at the time they are choosing which firm to work with. Be sure to document this positioning, as you will use it over and over again as you develop your messages and marketing tools.

Choose your overall business development strategy

Pick the broad strategy or strategies to reach, engage and convert your prospects. You can start with the list of top strategies provided above. Which strategy fits with the needs and preferences of your target audiences? Which ones best convey your competitive advantage? For example, if you are competing because you have superior industry expertise, a thought leadership/content marketing strategy will likely serve you well.

Click to play video

Choose your business development tactics

A great place to start is the list of the most effective tactics we provided above. Make sure that each technique you select fits your target audience and strategy. Remember, it’s not about your personal preferences or familiarity with a tactic. It’s about what works with the audience.

Also, you will need to balance your choices in two important ways: First, you will need tactics that address each stage of the business development pipeline shown in Figure 1. Some techniques work great for gaining visibility but do not address longer-term nurturing. You need to cover the full funnel.

Second, you need a good balance between digital and traditional techniques (Figure 2). Your research should inform this choice. Be careful about assumptions. Just because you don’t use social media doesn’t mean that a portion of your prospects don’t use it to check you out.

Online and Traditional Marketing

Figure 2. Online and offline marketing techniques

When, how often, which conferences, what topics? Now is the time to settle on the details that turn a broad strategy into a specific plan. Many plans include a content or marketing calendar that lays out the specifics, week by week. If that is too much detail for you, at least document what you will be doing and how often. You will need these details to monitor the implementation of your plan.

Specify how you will monitor implementation and impact

Often overlooked, these important considerations often spell the difference between success and failure. Unimplemented strategies don’t work. Keep track of what you do, and when. This will both motivate action and provide a great starting place as you troubleshoot your strategy. Also monitor and record the impacts you see. The most obvious affect will be how much new business you closed. But you should also monitor new leads or new contacts, at the bare minimum. Finally, don’t neglect important process outcomes such as referrals, new names added to your list and downloads of content that expose prospects and referral sources to your expertise.

If you follow these steps you will end up with a documented business development strategy and a concrete plan to implement and optimize it.


How Hinge Can Help

Hinge, a global leader in professional services branding and marketing, helps firms grow faster and become more profitable. Our research-based strategies are designed to be  implemented.  In fact, our groundbreaking  Visible Firm ®  program  combines strategy, implementation, training and more.

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Home » Business Plans » B2B Sector

How to Write a Consulting Firm Business Plan [Sample Template]

Are you about starting a consulting business online ? If YES, here is a complete sample business consulting firm business plan template & feasibility report you can use for FREE . One of the reasons why the consulting business wouldn’t be too saturated no matter how much people delve into it is the fact that the sky is too large for two birds to collide. This means that there are a myriad of people who want to venture into businesses and other unknown fields, and will require the services of a consultant.

What It Takes to Start a Consulting Business?

If you are looking to start a consulting business, it is very expedient that you master the areas in which you would want to be known as a veteran. There are several fields which one can look to start out from. From the sports angle, to events management, and to other areas.

It is however no doubt that you will need to first of all have a rich knowledge of the area that you are looking to commence business from. After that has been done, then you have got to make it mandatory to draw up a business plan that you will follow. Below is a sample consulting business plan template.

A Sample Business Consulting Firm Business Plan Template

1. industry overview.

When we talk about consulting services, we are perhaps talking about getting practical advice from expects. The consulting industry is indeed a broad industry that covers a wide range of services such as management consulting, strategy consulting technological consulting, marketing consulting, human resource consulting, training consulting, tax consulting, and any other business activities that involves giving advice et al.

In essence, consulting firms are hired to proffer solutions to the challenges that organizations faces. Organizations don’t just hire consultants for the sake of hiring consultants, but they do so simply because they expect them to help tackle their business challenges and deliver solutions as required.

As a consulting firm, if you are good at developing coaching skills, process analysis, technology implementation, strategy development, or operational improvement services, then with little push, you will have more jobs than you can handle.

From a recently released statistics, the united states market for management consulting grew 8.5% last year; it translates to about $39.3 billion. Management consulting is growing at a steady rate and the growth rate of the industry far exceeds previous years’ growth.

Although the consulting industry struggled during the 2001–2003 period, but of course it is evident that the industry grew steadily after then except for the period (2009) when we experienced economic downturn. Of course the industry is stable and enjoying steady growth. The United States companies are spending much less on strategy consulting but the sector is expected to grow just 3.7 percent in the coming year.

The consulting industry is a high-paying industry especially if you have been able to cut your teeth in a particular area of specialization. It gives you the opportunity to work with high and low profile clients and if you are able to proffer solutions to business challenges you will be greatly rewarded. In most cases, if you are lucky to be among the few experts in the industry, you will have the privilege of choosing who to work for and the amount you want to charge.

Generally, consultants are skilled at conducting research and of course analyzing the results they got from the research. Consultants go as far as gathering any related data that will help them come up with workable solutions for the organization they are working for; they ensure that they identify behavioral patterns, production bottle – necks, the market trends and of course customers preference.

With that and other factors, they will be able to create standard operating processes that can help the organization achieve its goals and objectives.

As a consulting firm, your core responsibility is to improve your client’s business by effecting changes in response to your analysis; you should be able to change the fortune of the business within an agreed time – line. Corporations are willing to pay expensive fees as long as they are going to get results.

No business person will be willing to pay you for a consulting service if you don’t have a track record that shows that you know what you are doing. It is one thing to convince a client to patronize your consulting services and it another thing for you to deliver solutions as agreed.

Lastly, one good thing about the consulting industry is that there are readily available markets for their services simply because organizations naturally would want to improve their performance annually; corporations always seem to want more success. So, if you are well positioned and you know how to deliver results, you will always smile to the bank.

2. Executive Summary

Denzel and McPherson Consulting, LLP is a Human Resource and Capital Development Consulting firm that will be located in New York City, New York. The company will be operated as a standard consulting firm with bias in business consulting and also handle other related aspect of human resources and capital development aspect of consulting as requested by our clients.

We are aware that businesses these days require diverse and sophisticated approaches. This is why we will position our consulting firm to offer a wide range of consulting services as requested by our clients. Denzel and McPherson Consulting, LLP is a client-focused and result driven business consulting firm that provides broad-based experience at an affordable fee that won’t in any way put a hole in the pocket of our clients.

We will offer a complete range of business consulting services to our local, state, national, and multi-national clients and we will ensure that we work hard to provide the required services and business solutions needed by our clients to accomplish their business goals and objectives.

At Denzel and McPherson Consulting, LLP, our client’s best interest come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire consultants who are well experienced in a wide variety of business consulting and trainings et al.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Denzel and McPherson Consulting, LLP will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

Denzel and McPherson Consulting, LLP is founded by Dr. Denzel Graham – Douglas and his son McPherson Graham – Douglas. The organization will be managed by Dr. Denzel Graham – Douglas, he graduated from University of California – Berkley (First Degree), Brock School of Business at Stamford University (MBA), and University of Harvard (PhD.).

He has extensive experience in a diverse range of business consulting, and his consulting practice is concentrated in the areas of helping both big corporations and start – ups position their business for growth, sustainability and expansion.

3. Our Products and Services

Denzel and McPherson Consulting, LLP is going to offer varieties of services within the scope of the consulting industry in the United States of America. Our intention of starting our consulting firm is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.

Our business offering are listed below;

4. Our Mission and Vision Statement

Our Business Structure

Denzel and McPherson Consulting, LLP will build a solid business structure that can support the growth of our business. We will ensure that we hire competent hands to help us build the business of our dream. Below is the business structure that we will build Denzel and McPherson Consulting, LLP;

Legal Secretary

Admin and HR Manager

Business Developer

Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Office / Lead Consultant:

Business Consultant

Training and Development Consultant

Business Analyst

Client Service Executive

6. SWOT Analysis

Denzel and McPherson Consulting, LLP engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a solid consulting firm that can favorably compete in the highly competitive consulting industry.

Part of what our team of business consultant did was to work with the management of the firm in conducting a SWOT analysis for Denzel and McPherson Consulting, LLP. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Denzel and McPherson Consulting, LLP;

Our core strength lies in the power of our team; our workforce. We have a team that can go all the way to give our clients value for their money. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.

As a new business consulting firm, it might take some time for our organization to break into the market; that is perhaps our major weakness.

The opportunities in the consulting industry are massive and we are ready to take advantage of any opportunity that comes our way.

Some of the threats that we are likely going to face as a consulting firm operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing power. There is hardly anything we could do as regards these threats other than to be optimistic that things will continue to work for our good.


Quite a number of distinct trends have emerged in recent times in the consulting industry which is why consulting firms are positioning their organizations to survive the peaks and troughs of an ailing economy. As a matter of fact, most of these trends aid consulting firms and organizations to become more creative, competitive, efficient, and productive in a global market.

Some other trends in the consulting industry could be attributed to changing demographics, attitudes and work styles.

No doubt, as the cost of consulting services continues to increase and as corporate spending falls, new consulting delivery methods will continue to emerge and gain momentum going forward. In addition, the market for consulting services has shifted from a sellers’ market to a buyers’ market. A market where consultants provide software solutions that will make it easier for their clients to run their businesses.

Lastly, it is now becoming trendy in the consulting industry for smaller consulting firms to merge with bigger consulting firms and for bigger consulting firms to acquire smaller consulting firms; mergers and acquisitions. Many consulting firms all over the United States are coming to the conclusion that the bigger the better for them.

8. Our Target Market

Although Denzel and McPherson Consulting, LLP will initially serve small to medium sized business, from new ventures to well established businesses, but that does not in any way stop us from growing to be able to compete with the leading consulting firms in the United States. We hope to someday merge or acquire other smaller consulting firms and expand our consulting services beyond the shores of the United States of America.

As a full service business consulting firm, Denzel and McPherson Consulting, LLP have a variety of practice areas to help startups grow. While we works with a variety of organizations and industries, Denzel and McPherson Consulting, LLP will also specialize in working with startups, real estate investors, and contractors, manufacturers and distributors, banks, lending and financial institutions.

Our target market cuts across people of different class and people from all walks of life, local and international organizations as well. We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses.

In other words, our target market is the whole of the United States of America and subsequently other parts of the world. Below is a list of the people and organizations that we have specifically design our products and services for;

Our competitive advantage

A close study of the business consulting and advisory industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, the supply of business consultancy and advisory services has significantly exceeded demand. In other to position to take on the market, most consulting firms have begun to diversify their services as against restricting their services to just a niche in the industry

Denzel and McPherson Consulting, LLP might be a new entrant into the business consulting industry in the United States of America, but the management staffs and board members are considered gurus. They are people who are core professionals and licensed and highly qualified consultants in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups consulting firm) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.


Denzel and McPherson Consulting, LLP is established with the aim of maximizing profits in the consulting industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign retainer – ship with most of our clients.

Denzel and McPherson Consulting, LLP will generate income by offering the following consulting services for individuals and for organizations;

10. Sales Forecast

As long as there are people living in the United States of America and business starting and growing in the U.S., the services of consulting firms will always be needed.

We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond New York City, New York to other states in the U.S. and even the global market.

We have been able to critically examine the business consulting market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in New York.

Below is the sales projection for Denzel and McPherson Consulting, LLP, it is based on the location of our business consulting firm and the wide range of consulting services that we will be offering;

N.B : This projection is done based on what is obtainable in the industry.

We mindful of the fact that there are stiffer competition amongst consulting firms in the United States of America, hence we have been able to hire some of the best business developer to handle our sales and marketing. Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization.

We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard consulting business that will leverage on word of mouth advertisement from satisfied clients (both individuals and organizations).

Our goal is to grow our consulting firm to become one of the top 20 consulting firms in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the U.S but in the world stage as well.

Denzel and McPherson Consulting, LLP is set to make use of the following marketing and sales strategies to attract clients;

11. Publicity and Advertising Strategy

We have been able to work with our in house consultants and other brand and publicity specialist to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the consulting industry by storm which is why we have made provisions for effective publicity and advertisement of our consulting firm.

Below are the platforms we intend to leverage on to promote and advertise our consulting business;

12. Our Pricing Strategy

Hourly billing for consulting services is a long – time tradition in the industry. However, for some types of consultancy services, flat fees make more sense because they allow clients to better predict consultancy costs. As a result of this, Denzel and McPherson Consulting, LLP will charge our clients a flat fee for many basic services such as business advisory services and tax consulting et al.

At Denzel and McPherson Consulting, LLP we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises.

We are aware that there are some clients that would need regular access to consultancy and advisory services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

Denzel and McPherson Consulting, LLP, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

13. Startup Expenditure (Budget)

Starting a consulting firm can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment. Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.

Basically, this is the area we are looking towards spending our start – up capital on;

Going by the report from the research and feasibility studies, we will need about $150,000 to set up a small scale but standard consulting firm in the United States of America.

Generating Funding / Startup Capital for Denzel and McPherson Consulting, LLP

Denzel and McPherson Consulting, LLP is going to start as a private business that will be solely owned by Dr. Denzel Sander and family. He will be the sole financial of the firm, but may likely welcome partners later which is why he has decided to restrict the sourcing of his start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is easier for businesses to survive when they have steady flow of business deals / customers patronizing their products and services. We are aware of this which is why we have decided to offer a wide range of consulting and advisory services to both big and small clients.

We know that if we continue to deliver excellent consulting and advisory services, there will be steady flow of income for the organization. Our key sustainability and expansion strategy is to ensure that we only hire competent employees, create a conducive working environment and employee benefits for our staff members.

In the nearest future, we will explore the options of either merging with other consulting firms or acquire one or more consulting firms in order for us to increase our market share. We know that if we implement our business strategies, we will grow our consulting and advisory business beyond New York City, New York to other states in the U.S in record time.

Check List / Milestone

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Business Development Business Plan

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Palms and Bonds

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, opportunity.

Botswana has increasing number of entrepreneurs and competition amongst existing companies which presents an increased demand for market information and services. Companies need market research and info to stay ahead of their competitors.

Palms and Bonds is based in Botswana and offers the expertise that a proactive-oriented and market-opportunity seeking company needs to develop and enter new product distribution and new market segments in new markets. We intend to provide a number of necessary services to the business community and to the public. These can be summed up in two main divisions — Business and Training Services. Our business services can be taken as marketing research, market research reports, project-based consulting, business and marketing plans, plan consulting and writing, high-level retainer consulting and company registration. Our training services include workshops and seminars on such topics as sales and marketing, as well as in-house training of receptionists, secretaries, and sales and marketing personnel.

Our intended markets are increasingly growing towards recognizing the difference between poor quality business consultancy service and that of high quality. This development is an important trend for us as it represents our target market, and hence opportunity. We now are having an increasing number of people who appreciate quality information and the importance of having comprehensive and concise market and business plans undertaken.

Another trend is the one toward greater use of specialized and focused consultants, instead of in-house resources. Companies are looking for out-sourcing (but unfortunately few offer such a service) and, in general, a preference for variable costs instead of fixed costs.


There are numerous companies operating in Gaborone who classify themselves as “business consultants”. However, upon contacting these, it appears that the vast majority of these companies are bookkeeping and secretarial services companies. There are some companies that provide services similar to those offered by us and that is good, but none of them specialize in market/marketing research. The following are some of our main competitors:

Palms and Bonds offers clients reliable, quality information and proposals for business development, market development, and channel development that will maximize business development. A true alternative to in-house resources we offer a very high level of practical experience, know-how, contacts, and confidentiality. At Palms and Bonds we are able to provide comprehensive solutions to our clients’ problems that will foster business development. Clients must know that working with Palms and Bonds is a more professional, less risky way to develop new areas even than working completely in-house with their own people. Palms and Bonds must also be able to maintain financial balance, charging a competitive and realistic value for its services, and delivering an even higher value to its clients. Initial focus will be development of the local market clientele.


The annual sales projections for three years are included in the table below. It should be noted that as we become established and known on the market we project sales to increase at a faster rate than the initial year.

Financial projections are in Botswanan Pula (P).

Financial Highlights by Year

Financing needed.

The co-founders will each contribute $35,000, for a total investment of $70,000. Total start-up capital and expenses covered (including legal costs, logo design, stationery and related expenses) came to approximately $49,000. Start-up assets required and utilized included personal computers, vehicles, office furniture, and other office equipment is an additional $20,000.

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business development consultant business plan

Project Report gives an account of the project proposal to ascertain the prospects of the proposed plan/activity. A good business development consultant can help you in preparing a detailed project report.Companies seeking financial assistance for implementation of its business idea are required to prepare a business plan Project Report covering certain important aspects of the project such as promoters background/experience, product, location, technical arrangements, resource availability, market prospects, profitability, cash flow etc.

How we will.

We are into the field of business development consulting in Pune since 2012. Being one of the premier business development consultants in Pune , we have expertise in advising our clients about when to invest in and in which business. Preparing a workable business model with its feasibility, location-wise, finance-wise & operations-wise is our forte. Our personalized approach & customized deliverables are what sets us apart. Understanding the chief influencers, type of market and players, market description, target clients, market consumption, client behaviours, intentions, purposes, approaches, inclinations, impetus, and needs

Services Offered

Swot analysis.

A good project report development consists of conducting a robust SWOT analysis. What makes SWOT particularly powerful is that, with a little thought, it can help you uncover opportunities that you are well-placed to exploit. And by understanding the weaknesses of your business, we help you manage and eliminate threats that would otherwise catch you unawares. It helps you focus on your strengths, minimize threats, and take the greatest possible advantage of opportunities available to you.

Financial Analysis

Create trend lines for key items in the financial statements over multiple time periods, to see how the company would be performing. Typical trend lines are for revenues, the gross margin, net profits, cash, accounts receivable, and debt. We make an array of ratios for discerning the relationship between the sizes of various accounts in the financial statements. Capital cost, operating cost, fixed cost & working need analysis are all assessed & project report is designed accordingly.

Management & Operations

The only way to have a strong organization is to delegate responsibility as far down as possible, and then hold people accountable. The interaction amongst the operations needs to be smooth and frequent. We devise SOPs where the entire business communication, reporting & job descriptions are defined & audit parameters are coined to ensure SOPs are being followed.

Being in the field of business development consulting we have had the pleasure of preparing business plan project reports for numerous startups . We would like to take your business to the next level and help you in preparing a robust business plan.

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We work only for Visionaries.

Process automation.

The idea of having Ecommerce Consultants on-board from the beginning itself points towards reducing the involvement of the promoters in daily operations. Ecommerce Businesses willing to be a brand reaping profits & sustaining the competition must ensure that most of their processes should be automated. The more the manual intervention, the more would be the errors.

In Ecommerce business, you get only 1 chance to impress the customer & if you mess up there, you lose the customer for long.

Process automation in respect to all the activities pertaining to customers from order receiving to order fulfilment is a must for a seamless experience for the customers.

Task Management is another grey area where most deadlines fail as 90% of the tasks are assigned manually & are forgotten, unheard, misunderstood or mistaken.

YRC Team of Ecommerce Management Consultants helps to make maximum of the processes system-driven to ensure minimalistic manual intervention.


No matter how good your product is, the customer would know only if it looks good.

Photography includes the following steps:


Digital Marketing includes SEO & SMM. SEO i.e. Search Engine Optimization includes activities like back-linking, meta tags, blog-writing etc. to ensure your website ranks on the 1st page on Google Search.

Next comes SMM i.e. “Social Media Marketing” which as the name suggests including promoting your products on all the social media sites, email marketing, influencer marketing & several other BTL activities.

These activities are going to be recurring & would decide the traffic on the website, the conversions, whether the right target market is tapped, the likes, the views, the orders, the reviews & much more. YRCs Ecommerce Consultants create a budget for digital marketing right from pre-launch to launch & for each month thereafter.

Building digital marketing strategies in coordination with the agency, selecting them to signing them off would be the role of YRC.

This ensures seamless coordination, detailed interactions & desired execution as it is always advisable to work with a single agency than multiple of them.


Selection of the right software for smooth functioning of back-end operations right from production to webstore display would be suggested and integrated by YRC Team.

YRC’s Team defines SOPs of Product Movement, maps it with the locations & people. They then create a blueprint of all the features required in the software & help in shortlisting & selection.

IT Integration involves connecting your offline inventories with real-time online webstore so when a sale occurs, inventories get deducted real time across offline as well as online platforms.

This helps in accurate inventory management, maintaining the MOQs, re-order levels & achieving the optimum inventory levels.

Some popular software include unicommerce, viniculum for your front-end website management & Genisys for your entire back-end Purchase, Production, Accounting, Invoicing etc. management.


At YRC, our warehousing and logistics experts can help you devise a strategy for all of the above mentioned queries and much more.

We design the layout of the Warehouse considering the inward, goods processing, software entry, barcoding, outward, goods return, scrap storage, goods stacking & much more.

Logistics route plan is devised considering the manufacturer to your warehouse and from there to last mile delivery locations.


This Step involves 03 distinct parts:

Part 1: Choosing the right Platform:

From several platforms available in the market right from Shopify to magento, woocommerce, prestoshop, wordpress etc. you must choose the one that fits best for your business

Part 2: UX Designing:

“UX” denotes User Experience, which if put in simple language is building the functional requirements of the website.

UX Designing includes designing the features required in the website, customer journey map, website features, the browsing features, navigation features, ecommerce order management process flow, checkout cart features, catalogue management, ecommerce payment system, cross selling features & much more.

“As per statistics, 68% of the customers abandon the carts before payment”

An interesting UX ensures the customer sticks on to the website for a longer time.

Part 3: UI Designing:

UI stands for User Interface, which means designing the look and feel of the website. UI includes using the right colours, elements and the entire aesthetics of the website.

A good User Interface ensures the user completes the task that he has come for. It navigates the user through the journey of the brand in the simplest but most effective way.

The UX designer maps out the bare bones of the user journey; the UI designer then fills it in with visual and interactive elements.

If User experience is the bare bone, user interface wraps it up with an attractive cape.

At YRC, our team if experts can help you develop the entire User Journey to ensure it is engaging!


This step follows the “Designing” Phase, whether you have an in-house design team, freelance designers or an outsourced design company. It is one of the most exciting phases, as here you see your designs turning into products & your ideas turning into reality.

In most start-up cases, production is outsourced i.e. brands tie-up with the established manufacturers/ job-workers to get their products manufactured.

Sampling involves multiple 04 Stages, Fit-Sample, Prototype Sample, Pre-Production Sample & the Production Sample.

Prototype Sample is the first sample provided to the buyer. It can be in any fabric/ colour. This sample is just to understand whether the product design looks equally great in reality.

Fit Sample, as the name suggests is prepared to check the fit of the garment i.e. the various sizes, length, width etc.

Pre-production is made by the actual production line. Here the stitching quality and other aspects related to manufacturing are checked. This is the last stage where rejection can be accepted.

Production Sample is made before the production which is the replica of what is going to be finally produced.

Once you are through with all this, you are good to go ahead & get your goods manufactured.


Product Designing or Sourcing is the heart of the Ecommerce Fashion Brand.

Product Designing / Sourcing can be done in several ways, as follows:

At YRC, we evaluate your business strategy & business model to arrive at the decision, which of the above ways would be best-fit for your business. In certain cases, product sourcing may be a combination of the above.

These are the people who are going to build your brand! Whether they are the designers or merchandiser, your brand look is going to be in their hands.

If you are designing each garment from the scratch, the sourcing would play crucial role in developing design identity of your brand.

Sourcing includes fabric, trims, lining & all the raw material required to build the garment.

Branding is the “Look of the Brand”, right from logo to tagline, the colours used, the brand story, the brand communications on social media, the packaging & all the other aspects which speak directly or indirectly to the customers. Branding constitutes the look & feel of the brand & hence must be thoughtfully planned to match with the product that we are selling.

Branding must appeal to our target audience. Example : A golden colour logo depicting finesse, art, richness, premium, however beautiful it may be individually cannot go with a brand selling affordable kids wear products. So, your logo must be in-line with your brand positioning, whether you are an expensive brand or a luxury brand or a value for money brand, it must be depicted from your “Branding”.

It is an integral part to attract the target audience.


Organogram is the “HR Blueprint” of the business which is created at the onset, to map out the team required across each function at various stages of the business. At the launch, only key people need to be got on board to ensure the project gets started & at this stage, all of them need to multi-task. Similarly, certain financial as well as operational goals are set for addition of the further team. Example, for the operations team, we hire 1 operations manager during the pre-launch phase & we add 1 more only when the business kicks-off & we reach a volume of selling more than 1000 pcs/ month or a turnover of more than 0.1 million USD.

SOPs are Standard Operating Procedures, a bible to run the entire organization right from Sales, Purchase, HR, Order receiving to Order fulfilment, Inventory Management, Accounts, Warehouse, Logistics, Supply Chain, Production & all the other relevant functions for the business. Business must be organized from its first day of operations; only then the tasks can be delegated.

At YRC, we design the organization structure, the processes, and approximate time taken to execute each process, job profile of every member within the organization, their KRAs, KPIs & the Reporting Structure.


Critical Pathway Analysis (CPA), is a project management technique which cannot be overlooked while launching an ecommerce fashion brand. Brand launch process is cumbersome with multiple inter-dependent & time-bound tasks involved, which need to be tracked to ensure the project remains on track.

CPA outlines key tasks across the project, their turnaround time (TAT) & the dependencies of tasks upon each other. It identifies the sequence of tasks, their interdependent steps from inception to completion, their criticalities, and their dates of onset, target dates of completion along with the key responsible person for the respective activities. Critical Pathway helps in understanding the unimportant & not urgent tasks which may jeopardize the execution of the project because of an unexpected snag! It also maps out the potential bottlenecks which might be posed because of the dependencies of tasks upon each other & cases where the next task cannot be commenced before the completion of the previous one.

CPA detects the minimum & the maximum time involvement of a particular individual or team to execute the task, thereby arriving at the overall deadlines associated with the project.

At Your Retail Coach, we design the Critical Pathway & review it periodically to ensure the project is on track & the progress is measurable.


Business Strategy includes the vision, mission, goals, business model, business plan & strategy for all the functions within the organization.

Business Strategy is a well-defined plan that outlines who, what, where, why, how & when for the company; for example, who would be the target market, how to attract the target audience, when to launch new products, where to operate from, how to handle competitors, what would be the USP, what would be long term goal of the organization & several other answers to the 5Ws of Strategy.

Business Strategy aligns the organization towards a common goal. Business SWOT helps company to identify & overcome their weaknesses & focus to sharpen the strengths. Business strategy forecasts future risks and helps business in building skillsets to overcome the potential threats.

YRC’s Business Plan focuses on creating a “Blueprint” of the business, thereby deriving the feasibility of the concept & gauge whether the opportunity is lucrative to invest time, energy & effort. Business Plan creates cash flow understanding i.e. building inflow & outflow cash projections from Week zero to week 60 i.e. 05 year projection. Business Plan calculates the capital investment, operating costs, one-time costs, recurring costs & all the other numbers relevant to obtain the breakeven sales, return on investment, return on capital, internal rate of return & several other ratios. Business Plan is also one of the important requirements if you are targeting the “Investor Route”. Fund raising becomes extremely transparent & channelized. With business plan panned out clearly, the business will know until what point must it be stretched & where to stop, which reduces the probability of unplanned investments.


Starting the concept of Ecommerce Fashion brand with Market Research ensures we get detailed understanding of the industry & this research report also acts as a social confirmation for your concept. Market Research helps in understanding the target locations, their population, potential online buyers for your product, competitors for each category, and top selling products of the competitors, competitors’ price range, offers & their responses & much more. Market Research helps in thorough understanding of your brand position as compared to our competitors. It helps in identifying gaps in the market, in your category along with the scope of the said product in the desired market. This will help in validation of your concept & prevents you from making the same mistakes as your fellow brands, eventually saving your time, energy & efforts. This phase is also a make or a break phase, as the market research study may at-times come up with some eye-popping numbers & statistics which might compel you to re-think on your product or category that you are planning to sell or alter your entire concept itself!! Market Research Reports analyse the competitors’ webstore for their traffic, conversion & sales. This is extremely valuable information to derive our inventory budgets & projections, which takes us to our next phase.

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Engineering Consulting Business Plan Template

MAR.12, 2020

Engineering Consulting Business Plan

Business Plan for starting your engineering consulting firm

Thousands of engineering students are out there with high dreams and aspirations to start and excel in a successful business out there. Having different minds with different plans for a company, but business plans for engineering consulting services are nowadays one of the most exciting and familiar ideas among youngsters. It is wise enough to say that to think and execute any purpose takes efforts in the right direction. Some of them with great views also fail and finally surrender all because of the wrong execution.

So, how to start an engineering consulting business is the central question one should have in mind. Being a businessperson is not that easy because when it comes to marketing, he always looks for more and more profit, but there are ups and downs. For a young mind that has just started his business and is new to the market, it often becomes frustrating with such fluctuations. You need to invest in the right direction and wait patiently for the results.

Always remember, “Rome was not built in a day.” Your mission should be to provide the best and most efficient service to the people, with all types of planning, concept building, and completion. Your team should be highly professional and skilled, which you might be the critical factor, too, using experience and ideas making your customers satisfied. The development of a working strategy and working on its implementation is all it takes. Indeed starting an engineering consulting firm has several challenges that need to get sorted out though we cannot deny the fact that it is a very profitable business.

Further in the article, we will be dealing with these:-

Executive summary

The firm here is to provide all the possible support and successfully solve the problems of the people out there with high, excellent, and efficient consulting services. The firms have a team of competent and well-trained professionals, which would try to help people with consulting to all possible extents. Bit of direct investments in money and time can help you in the long run. The starting of the business is not easy, but it is the most significant step.

Start to invest little, don’t let any even the customers with very less profit go down and start gaining a name in the market. Implementation of quality control work as well as assurance program is beneficial and provides more scope and focus for production work. One needs to be more strategic and schedule oriented to get a good hold over several prospects in the engineering consulting business.

How will the engineering consulting business be started?

The business initially would be all about a small investment and hard works. The company will be started based on providing the best service possible for delivering professional quality services with excellent and efficient budgets and doing so on time. The business plan companies was started to implement and maintain the best policy control and develop a strategy for doing so and maintaining a smooth relation with the customers.

Engineering Consulting Business Plan - Startup Cost

Engineering business

The private limited company is competent enough to deal with any kind of such business. The founder himself, being a professional engineer, is having profound knowledge in the engineering business. The team working alongside is also well to do with such a company and is highly efficient in providing the best service possible. The cost that might involve in such a business may depend on the size of the market. In our opinion, start slow, and then with the growth and expansion, the investments too would become more.

Management of engineering consulting business

The founder does the control of the market; he makes the initial and capital investments made for the company. He is the one who manages the investments made for the company following development and future growth. The management and success of the business, at last, are the results of cooperation and hard work by the team of workers in the venture.

Customers of engineering consulting firms

The customer of such a business, mainly the one who needs help and expert assistance in the specific project, may be private or public. These firms can provide expertise in the sections such as design, model, execution, and many many more aspects relating to civil, electrical, mechanical, and sometimes software engineering. Effective and efficacious communication is very helpful when it comes to engineering consulting. It is a way, which is more efficient, and most number of people can easily get through their problems/issues regarding their engineering projects/career easily. The customers of such firms are the people who need a tinge of experienced advice and guidance over their projects.

Business targets

Start with a little, and do not ever panic to make decisions for your investment for your business plan . The goal mainly should deal with providing the customer what they need, and going on with slow and steady growth to increase the business, I a year or two of your business years the target should be to get market value and minimum. Increase in the gross margin (which would significantly help your firm to grow), and the profit line should be one of your targets.

Company summary

Company owner.

The owner of the company is an experienced and skilled engineer. His mind-set is mainly involved in the welfare of the customers. The owner is the one responsible or every type of investments and inputs to the company, he not only is a role model for the company and the team but also is the main thought behind the concept of setting such a business. He was always into such an idea since starting of his carrier, and with hard works and efforts here, he is today making the dream come true

Why is the engineering consulting business being started?

The owner, as specified above, had the idea of doing so. The company is being stated to deal with the problems of the people, help them in all possible ways when it comes to consultations about design, model, and structure of the project or sometimes thoroughly supervising the project. The company aims to provide every possible expertise in the plans. They always will be getting befits from the best ideas and lots of experience.

Establish a web presence

A web presence is essential for any type of business to grow in the era of technology, and especially one that is dealing with engineering and technology needs to have a web presence. It not only makes your company grab opportunities from any part of the world but also makes your presence in the market stable. Our business mainly deals with consulting services, which needs a web presence. More good reviews and a significant presence out there allow you to grab more and more.

Services for the customers

Market analysis of the engineering consulting business

If business was a sport, then the market is the playing ground where it is performed. Any type of business needs a demand to complete, and for a growing activity, it needs to expand and grow.

Market trends

Potentially we as an engineering consulting firm have a lot of different markets to target. According to the direction, we are there for planning and designing services. We not help the designs of the project with our innovative ideas but also give a proper plan to execute it. The trend shows that most of the inputs in the market come from architectural designing, then comes the structural design, and lastly, the mechanical and electrical designing.

The most important market for our firm would be the structural and the architectural designing companies as they need the inputs and detailed analysis of their projects.

Market segmentation

Engineering Consulting Business Plan - Market Segmentation

Our main business targets are all the companies and firms, whether government, private, or individual ventures, who are looking for some expertise in their projects. The main objectives generally would be the substantial architectural and structural firms looking for support with their plans for ideas, designs, and financial planning. Other destinations can be electrical and mechanical firms, bodies like municipal cooperation, government structures, and law firms.

Engineering Consulting Business Plan - 3 Years Profit Forecast

To price and bill for a project, which you will be working on is a difficult task. Often the customers can be confusing depending upon their expectation for the price, and one can find it too high and unaffordable while for the other it might be well within the reach

Clients can compare two of the providers but usually goes on what they hear from the market, which makes an essential point of standing in the market with the right name. When reasonable concessions are given with satisfactory work, customers will return to you for the next job, and also the recommendation of your work will create chances in the market.

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The primary components of strategy of our business will keep growing and expanding the company in the market. The primary market strategy for the company would include the promotion and spread of the business. Good strategies, along with management for understanding the budgets, can solve your problems easily.

Sales strategy

When it comes to internet and web promotion, we will try to maximize the flow of users to our website with efficient advertisements and campaigns like email campaigns. One of the best ways to connect with customers is to meet them directly. We will try advertising in a limited budget by giving technical supports to NGOs and campaigning in local communities and schools.

Competitive analysis

It is something that is the best way to rate and know where your business is lacking. Comparing another such firm who has similar services to offer allows you to understand how to overcome things which make you lag. Since you are competing and analyzing yourself, it makes you grow with double speed as it would be the combined inputs of both you and the one which you are getting from your competitor. When you analyze on this basis, it makes your market growth, which ultimately makes your business grow.

Sales monthly

Sales monthly and annual are the analysis of the growth of your company in months and years. Regularly the gross margin is expected to be the same all over and will remain constant; with time passing by, it might increase, but it is going to be persistent.

Engineering Consulting Business Plan - Sales Monthly

Sales yearly

For yearly sales, the first year n is expected to be moreover a constant one, the second year might show fluctuations, and in the third, we expect a growth in gross margin. During this time, the business might need some extra cost input, which disrupts the graph sometimes, but in most cases, it same.

Engineering Consulting Business Plan - Sales Yearly

Sales forecast

The sales forecast is a summary of the sales and layout of the business in months and years. The sales in months and years are expressed in such estimates. This forecast shows a constant deal typically for three years in a successfully running business with a slow start for the first year. When we talk of the third year, the gross margin likely will increase, but don’t lose your patience and be there to support the business.

Engineering Consulting Business Plan - Unit Sales

Personnel plan

Company staffs.

A company is a roof that is supported by the strong pillars of the employees working out there. The company staff, which gives you support and confidence to be there out at the market, is one of the main reasons why a venture becomes successful. If the team does this much for you, makes the backbone of your company secure, then they deserve appreciation, which may be in ways of good and justified salary.

The average salary of employees

The average salary of the employees should be adequate to justify their works when an employee gets what he deserves; he gives his best for the company. It creates a healthy environment and a happy workplace for the people out there. The average salary should justify what one does for a company, and most importantly, the employees should have the respect they deserve.

Financial plans

Important assumptions.

We have assumed the economy be healthy and without a recession. We believe the creation of the company will not change the delivery of engineering services. Different taxes and interest rates are taken as conservative assumptions.

Break-even analysis

A break-even analysis helps you compare total variable and fixed costs with sales revenues to determine the level of sales volume. Charts and graphs can show it, and it is the number of sales, which we need to cover the cost, and we don’t think that before a few months such things would happen.

Engineering Consulting Business Plan - Brake-even Analysis

Projected profit and loss

The projected profit and loss for the first financial year are considered much less, and the gross margin was taken high. As the years pass by and the business is in the second, and the third year the growth can be seen, and gross margin should readily increase

Profit monthly

Profit monthly with our business is moreover seen constant. The profit margins seen every month are next to the same in the initial financial years.

Engineering Consulting Business Plan - Profit Monthly

Profit yearly

It is the profit of the business in a financial year. In the first year the profit is not expected to be high, the second year remains to fluctuate, and good profits can be appreciated until the third financial year.

Engineering Consulting Business Plan - Profit Yeraly

Gross margin monthly

Gross margin monthly is the gross profit the company will make in a month. The gross margin monthly is not estimated to be high in our business in the initial months.

Engineering Consulting Business Plan - Gross Margin Monthly

Gross margin yearly

This is the gross profit made by our company annually. In other words, the sales from the business minus the gross cost. In our business, the first year is not expected to give a great gross margin. However, a steep increase can be expected during the third year.

Engineering Consulting Business Plan - Gross Margin Yearly

Projected cash flow

The projected cash flow is an essential aspect of the project. With the starting of the business, one should have ready cash inflow, and sometimes an increase in capital investment to boost up the industry is needed. The first periods are often critical, and at this time, a company needs support.

Engineering Consulting Business Plan - Projected Cash Flow

Projected balance sheet

The balance sheet in our business shows healthy financial growth and an increase in the net worth. It shows growth in gross income and increasing business.

Business ratio

It is the ratio indicating if our business is growing or indirectly if we have many to pay our credit holders or not. Our company shows a good ratio, which means we are running out of adequate cash flow.

I hope you got some ideas on how to start with a business in engineering consulting services. Collect your idea and accurately put them for the best result. Thanks for reading!

Download Engineering Consulting Business Plan Sample in PDF

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