business plan for management consulting

Consulting Business Plan: Complete Consultant Template & PDF

This consulting business plan is a comprehensive copy/paste example that includes an operating and marketing plan for any kind of consulting business. You can download it and make edits to create a plan for your business, whether you’re a startup consultant business or an existing consulting firm that wants to grow faster.

(Estimated reading time: 19 minutes)

Table of Contents

Consulting Business Plan Template

This plan for consultants contains in-depth information to build your own version. Simply modify the examples in this consulting plan to fit your specific line of work and you can quickly create a plan for industries such as (but of course not limited to):

• management consulting business plan
• advertising and marketing agency business plan
• healthcare consulting business plan
• IT consulting business plan
• fintech consultant business plan
• environmental consulting business plan
• security consulting business plan
• software consultant business plan

This business plan for consultants covers the following topics that go into a plan: your service list and descriptions, target market, marketing strategies for consultants, competition, and financial projections. You can download this example plan as a Google Doc for easy editing in Google Docs, Microsoft Word, Apple Pages, or save it as a PDF:

How to Use This Consultant Business Plan to Attract Clients

• Consulting Business Plan Template – This section provides guidance on what to include in each part of your business plan.
• Sample Consulting Business Plan Text – This part includes actual text from a real consulting business plan example that you can use as-is or modify to fit your specific needs.

Since many consulting businesses are established by solo practitioners, this consulting business plan example will focus on one-person firms. However, if you have partners or are part of a larger company, you can easily adapt this plan by replacing singular pronouns (I) with plural forms (we).

To help you chart a revenue course to starting your consulting business, this business plan example also includes a brief overview of a marketing plan. I recommend taking a look at (even downloading) my detailed marketing plan example as a model for yours.

Sample Consulting Business Plan

Let’s begin with the sections that make up your consulting business plan. I include sample text below the description of what to focus on within each section.

The first section of your business plan introduction is critical for framing your consulting practice.

1. Consulting Business Plan Executive Summary

Here are the key topics to focus on in this section of your consultant business plan:

• An introduction to your consulting business and the services you offer
• A summary of your target market and their needs
• Your key differentiators and what sets your consulting business apart from competitors
• Your approach to delivering high-quality consulting services and achieving measurable results
• A summary of your marketing strategy and how you plan to reach your target market

Consultant Business Plan Executive Summary Example

I specialize in strategic planning, market research, and growth strategies for small and medium-sized technology businesses that cater to the financial sector (i.e., fintech). Additionally, I offer consulting resources such as training programs, workshops, and customized solutions tailored to each client’s unique needs.

My consulting business is built on the belief that every business has the potential for growth and success. To achieve this, I work closely with my clients to understand their goals and challenges, and develop customized solutions that help them achieve their objectives.

My target market consists of small and medium-sized businesses in the financial technology industry, a.k.a. fintech, who are looking to make their operations more efficient based on data and methodical research. My management consulting services are tailored to meet their unique needs, and my approach is focused on delivering measurable results that align with their business objectives.

What sets my consulting business apart from competitors is my focus on collaboration and transparency. I believe in working closely with my clients to develop solutions that are customized to their specific needs, and I keep them involved in the process every step of the way.

To reach my target market, I will establish a strong online presence through content marketing and search engine optimization (SEO for consultants). I will leverage social media platforms to engage with potential clients and showcase my expertise in the fintech industry as a top consultant.

My consulting business is committed to helping businesses solve challenging business management problems that require rigorous analysis and careful calculations. With a focus on delivering innovative solutions and building strong relationships with my clients, I am confident in my ability to help businesses succeed and thrive in today’s competitive market.

2. Consulting Business Plan Service Description

Every consulting business description is slightly different. I’ve provided two variations in this section so that you can identify which one resonates best with your goals. Each version provides similar information, but is structured differently. I have also included consulting service description examples for each version.

Version 1: Service Description

Focus on these elements for this section of your business plan:

• The types of consulting services you offer and their value proposition
• A description of the types of clients you serve and the problems you solve for them
• A summary of your consulting methodologies and tools
• An explanation of the benefits your clients can expect to receive from your services

If you are an independent consultant or small group, even in serving in a consulting capacity at a different firm, you can introduce the fact that your years of experience enable you to offer the same caliber of services that larger more expensive firms provide at significantly higher rates.

Sample Consulting Service Description

• Achieving product-market fit
• Improving operational efficiency
• Enhancing strategic planning and decision-making processes
• Implementing change management initiatives
• Developing growth strategies and market expansion plans
• Optimizing financial performance and risk management

My consulting methodologies are based on a data-driven approach that combines qualitative and quantitative analysis to identify and solve business problems. I use a variety of tools and techniques, including process mapping, benchmarking, and SWOT analysis to develop customized solutions for each client.

Working closely with my clients, I help them develop actionable plans and implement them efficiently to achieve measurable results. By leveraging my expertise and experience, my clients can expect to:

• Improve profitability and reduce costs
• Increase efficiency and productivity
• Enhance customer satisfaction and loyalty
• Expand into new markets and drive growth
• Stay ahead of the competition and achieve sustainable success

I will share examples of past projects that provide a detailed framework along with results to show clients what they can achieve by hiring my consulting business.

With my 15 years of niche industry experience and wealth of successfully completed projects, I am able to offer exceptional high caliber service at lower overall rates than larger firms. My management consulting services are designed to help businesses achieve their full potential and thrive in today’s competitive marketplace.

Version2: List of Business Consulting Services

Before you start writing this section, ask yourself the following questions to help define and refine your consulting services. For this consultant business plan example, I’ve included the following prompts to focus on what a management consultant would focus on. Tweak these as needed for your line of consulting.

• Types of consulting services : Describe the different types of management consulting services you offer, such as strategy consulting, organizational design, change management, or project management.
• Delivery methods : Explain how you deliver your consulting services, such as through workshops, one-on-one consultations, or online platforms.
• Benefits : Highlight the benefits of your consulting services for clients, such as increased efficiency, optimized performance, improved profitability, or streamlined operations.
• Unique value proposition : Describe how your consulting services are unique and different from those of competitors. This could include your methodology, tools, experience, or industry knowledge.
• Website URL : Include the URL of your website where clients can learn more about your consulting services and contact you for more information.

Below is my example of a management consulting services write up, including descriptions of each service, the benefits they provide, and your unique approach to delivering them. You can modify this section of your consultant business plan to fit your exact services offered.

This version is a little shorter than the one above and also includes a case study example link, since content like that will help clients understand the value you bring to the table. You can add a link like this in version 1 above as well.

Example: Management Consulting Services Offered

• Strategy consulting : We work with businesses to develop effective strategic plans that align with their mission and vision and drive business growth.
• Organizational design and development : We help businesses optimize their organizational structure and processes to improve performance and efficiency.
• Change management : We assist businesses in managing organizational change effectively to minimize disruption and achieve desired outcomes.
• Project management : We provide project management services to help businesses plan, execute, and deliver projects on time and within budget.
• Performance management : We help businesses implement performance management frameworks that align employee goals with business objectives and drive results.

Our management consulting services are delivered through a combination of workshops, one-on-one consultations, and online platforms. We use a data-driven approach that combines qualitative and quantitative analysis to identify and solve business problems. Our unique value proposition is based on our extensive experience working with businesses in diverse industries, combined with our personalized approach and commitment to delivering results.

Clients can expect to achieve a range of benefits, including improved organizational performance, increased profitability, enhanced employee engagement, and optimized project outcomes. See our go-to-market strategy case study example for details on the types of results clients can expect from our team.

3. Consultancy Business Plan Target Market and Buyer Persona

It is important to focus on a niche rather than offering generic services.

Consulting as an industry is highly competitive, so prospects may not be able to determine who is the best consultant for them. When you focus, your marketing efforts can be customized to the niche you specialize in.

Think of it this way: if you were to implement Salesforce or Hubspot in your business, would you hire a general IT consultant or a specialist in the product? A general IT consultant may have experience with different systems but may not be as familiar with the intricacies of how to set up Salesforce or Hubspot in a way that makes the most sense for your company.  A specialist, however, will have in-depth knowledge and experience and most all will use best practices for your business.

You would pick the Salesforce or Hubspot specialist without question. In my prior companies, I went through this exact exercise and hired specialists for each of these products.

Similarly, your management consulting business plan should focus on a specific target group so that you become known as a specialist for your niche.

Additionally, create a buyer persona – or a few – to get a clear picture of who you plan to target.

What Goes Into a Buyer Persona for a Consultancy

• Sample Name, Job Title and Role : I always like to give each persona a name to make it more real. Then, include the specific job title and role of the individual who is most likely to hire a management consultant, such as a CEO, CFO, or HR Director.
• Industry and Company Size : Add the industry and size of the company that the individual works in, as the challenges and needs of a small startup may be different from those of a large corporation.
• Goals and Objectives : Be sure to list the most common goals and objectives that the individual is trying to achieve, such as improving operational efficiency, increasing revenue, or expanding into new markets. These should tie into your product or service offering.
• Pain Points and Challenges : Know the pain points and challenges that the individual is facing, such as difficulty retaining top talent, ineffective decision-making processes, or lack of innovation.
• Decision-Making Criteria : Identify the factors that the individual considers when making a decision to hire a management consultant, such as experience, reputation, price, or industry expertise. This can include the influences – or rather, influenc ers , that the buyer relies on to make final purchasing decisions.
• Communication Preferences : Add what you believe to be the preferred communication channels and styles of the individual, such as email, phone, text or in-person meetings.
• Personal Characteristics : You can include the personal characteristics of the buyer, such as their values, beliefs, and personality traits, which may impact their decision-making process.

I’ve created several samples that you can download and have also provided one for this consulting business plan below.

Download 5 Free Buyer Persona Examples →

Sample Management Consulting Target Market

Given my strong background in financial technology (fintech), I specialize in working with fintech startups and small to mid-sized financial institutions.

My clients are typically looking for help in implementing new technology solutions, improving their operational efficiency, or expanding into new markets. As a fintech consultant, I help them identify market expansion opportunities where they could increase their total addressable market ( TAM ) and clarify the marketing plan to penetrate deeper into existing accounts, also known as the land-and-expand strategy.

My consulting services are tailored to each client’s specific needs and can include everything from strategic planning to project management. By working with me, my clients gain access to my expertise in fintech, as well as my extensive network of contacts in the industry.

4. Marketing for Consulting Firms

As a consultant starting a new business or growing an existing one, it is crucial to have a well-planned marketing strategy to acquire clients. In the Marketing Strategy section of your consulting business plan, you should outline how you will promote your consulting firm and services to potential clients. This section should also include information on your consulting branding strategy and how you position yourself in the consulting market.

Here are ten marketing ideas to consider when developing your consulting marketing plan, written as tactics that you can copy/paste into a consulting business plan template or PDF. You can even use ChatGPT, Bard, or other AI-writing tools to create a starter outline, but be sure to include your own original content.

Sample Marketing Plan for a Consulting Firms

To acquire new customers and expand deeper within existing clients, I will deploy the following marketing ideas for consultants and leverage partners to expand my brand’s reach:

• Developing an educational website : My website will contain information on my services, but more importantly it will include case studies and thought leadership content. The key to success will be my educational content as part of my long-term content marketing strategy. I will add lead capture forms on each high-intent article to convert website visitors into leads that I can nurture through email marketing and social media.

• Leveraging SEO : I will identify specific high-intent keywords related to my fintech consulting niche and optimize my website content accordingly. This will help my website rank higher on search engines and attract more potential clients through my educational content. Many of my articles and guides will include videos because research shows that content with videos and images enhances SEO. While many firms rely on paid advertising, using long-tail keywords can be an effective and cost-saving approach. By targeting “low keyword difficulty” and “high search volume” phrases, I can tap into organic search traffic that can continue to generate leads even after the initial investment. Therefore, as a consulting firm, I will prioritize SEO as part of my overall marketing strategy to increase my online visibility and attract potential clients. I will use MoreBusiness.com’s SEO Coaching services to accelerate my footprint online to drive sales from organic traffic.
• Podcasting with thought leadership content : I will share my knowledge and expertise by starting a podcast . This way, I can repurpose the content I create into multiple channels, including writing articles, blog posts, and white papers and using clips to sprinkle throughout my social media channels. I will also produce webinars and slide decks from these podcasts to educate my target market. Having experts as guests on the podcasts will allow me to expand my reach when the guests share posts on their social channels as well.
• Attending industry events : I will attend relevant industry events to network with potential clients and showcase my expertise. I will identify 10 unique events every quarter and inquire about speaking to build my reputation and attract new clients. My goal is to speak at least twice each quarter to new audiences.
• Partnering with complementary businesses : Partnering with complementary businesses can help me reach new clients and expand my services. These businesses would provide services such as IT managed services, accounting, legal and HR, which can lead to referral business.

• Building a referral network : I will leverage my existing network to generate referrals by first providing opportunities for others to get more business. This approach builds trust first, which can lead to getting referrals from others.
• Advertising on industry-specific platforms : I will advertise on industry-specific platforms such as trade publications, industry associations, and job boards and look at the cost-benefit of Google and LinkedIn advertising.
• Using email marketing : I will send regular email newsletters with business consulting topics to stay in touch with clients and prospects. I will send newsletters with trending topics, case studies, and other relevant content to keep them engaged and informed about the industry as a whole as well as projects related to my services.

5. Consulting Business Plan Financials

To calculate your projections, your business model needs to consider several factors such as your revenue streams, cost structure, market size, and growth potential. You’ll also need to look at any historical financial data you have to create realistic projections.

It’s important to keep in mind that financial projections are not a guarantee of your business’s future performance, but rather an estimate based on the information you have available. That’s why it’s essential to make sure the assumptions in your business plan are realistic and backed up by data.

Overall, the financial projections section of your consulting business plan is a critical component that helps you understand the financial feasibility of your business and attract investors or lenders. In the example below, I’ve included an outline of what an individual business plan consultant might put into their business plan. If you are operating with partners as part of a larger entity, modify this example to accommodate for your team’s output and productivity. This consulting plan example also includes various sources of revenue, not just billable time.

Sample Financial Projections for Consulting Business Plan

As a consulting firm, I have several sources of revenue aside from billable hours. These include:

• Retainer Fees : Some clients prefer to pay a fixed monthly fee in exchange for a set number of hours or a specific scope of work. This can provide a predictable revenue stream for the firm.
• Project-Based Fees : For larger projects with a defined scope, I may charge a fixed fee based on the work required. This allows clients to budget more effectively and can provide a higher profit margin for the firm.
• Commission Fees : For certain types of work, such as sales, I may earn a commission on the results achieved. This can be a win-win for both the client and the firm, as the client only pays for results achieved and the firm is incentivized to achieve those results.
• Product Sales : I will develop proprietary online courses to share my expertise in fintech consulting and grow advisory services with those who are not yet ready or unable to afford my consulting services. These will provide an additional revenue stream and can also be used as a freebie given to select clients to share with their staff.
• Referral Fees : By referring clients to other businesses or consultants, I may earn a referral fee. This not only provides an additional source of revenue, but can also help to build relationships and expand my firm’s network.

By diversifying revenue streams, my consulting firm can create a more stable and profitable business model. Our expected revenues for the first three years are as follows:

Year 1 Consulting Firm Financial Projections:

• Billable hours: 1,000 hours x $300/hour = $300,000
• Retainer clients: 3 clients x 10 hours/month x $300/hour x 12 months = $108,000
• Product sales: 5 sales x $197 = $985
• Commissions/referral fees: $10,000
• Total revenue: $419,985

Year 2 Consulting Firm Financial Projections:

• Billable hours: 1,400 hours x $300/hour = $420,000
• Retainer clients: 3 clients x 10 hours/month x $350/hour x 12 months = $126,000
• Product sales: 7 sales x $197 = $1,379
• Commissions/referral fees: $15,000
• Total revenue: $562,379

Year 3 Consulting Firm Financial Projections:

• Billable hours: 1,800 hours x $300/hour = $540,000
• Retainer clients: 3 clients x 10 hours/month x $400/hour x 12 months = $144,000
• Product sales: 10 sales x $197 = $1,970
• Commissions/referral fees: $20,000
• Total revenue: $705,970

6. Consultant Business Plan Conclusion

The conclusion section of a consulting business plan should summarize the key points of the plan and reiterate the main goals and objectives as you start your consulting firm. It is similar to your executive summary and should reinforce the value that your consulting firm brings to clients and how it will address their needs and solve their problems.

Your goal is to leave a positive and lasting impression on the reader, highlighting your consulting firm’s strengths and capabilities and conveying a sense of confidence in your ability to build a successful consulting business. Again, as in previous sections, I’ve written the example below for an individual consultant, which you can easily modify as you need.

Consulting Business Plan Conclusion Example

My consulting firm is well-positioned to provide exceptional services to our clients in the fintech industry. I have a highly experienced team through partnerships with individuals who have a track record of success in this fintech consulting, and we are committed to helping our clients achieve their business goals through innovative and effective solutions. I believe that by leveraging our expertise in operations management and technology, we can help our clients optimize their operations, increase efficiency, and ultimately, drive growth and profitability.

Through strategic partnerships, I’m able to offer a comprehensive suite of services to meet our clients’ needs, from project management and process improvement to software implementation and data analytics. My goal is to establish long-term relationships with our clients and become a trusted partner in their success.

I understand the challenges facing the fintech industry and are constantly adapting and evolving to stay ahead of the curve. I am committed to staying up-to-date with the latest trends, technologies, and best practices in my field, and we are excited to bring this knowledge to clients.

Overall, I am confident in my ability to deliver exceptional value to our clients and achieve the business goals outlined in this plan. I am excited to embark on this journey and look forward to the opportunities that lie ahead.

Start Your Consulting Business

Ready to get started? Download this consulting business plan template and save it as a PDF or doc file for future reference as you build out your business model and growth path.

Connect with me at MoreBusiness.com to help you grow faster! I’ve built several businesses and can help you fast-track your marketing and sales, especially through a managed podcast and thought leadership.

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How to Write a Consulting Business Plan + Free Template

Are you someone people usually come to to get valuable business advice? Or do you really like sharing valuable business insights to help businesses grow? Well, starting a consultancy business can be one efficient move to monetize your expert skills.

Now, you wouldn’t start a business without solid planning, would you? Well, how about you take the first step and write an actionable management consulting business plan for your business idea?

Writing a business plan can be tough. But we are here to make it easier for you.

This step-by-step guide is here to help you write a forward-thinking, realistic plan in easy actionable ways and offers a free management consulting business plan template to kickstart your writing process. .

So let’s get started.

Key Takeaways

• Craft a remarkable executive summary summarizing the concept, strategies, objectives, financial projections, and mission values of your consulting business plan.
• Conduct in-depth industry analysis and market research identifying emerging trends and shifts that are likely to influence your consultancy business.
• Introduce the services of your consultancy firm along with its pricing plan to give readers a thorough idea of your service offerings.
• Conduct a SWOT analysis of your key competitors and determine your competitive edge over them to strengthen your competitive analysis.
• Lay down a clear organizational chart highlighting the key skills, salaries, and experience of people working in your consulting firm. .
• Create realistic financial projections for sales, revenue, costs, expenses, and cash flow for your consultancy after making room for contingencies and emergencies.
• Draft a detailed operations plan highlighting the processes and procedures for everyday activities at your consultancy.
• Devise a diversified marketing and sales plan to promote your business effectively to your target audience.

Key Elements of a Management Consulting Business Plan

• Executive Summary
• Company Overview
• Competitor and Market Analysis
• Service Offerings
• Marketing Plan
• Management Consulting Team
• Operational Plan
• Financial Outlook

Since we are talking about a consulting business plan, let us walk you through this step-by-step outline to help you write a stellar plan covering all the essential facets.

1. Executive Summary

The executive summary is the first and foremost section of your consulting business plan that will engage your readers and persuade them to dive further into details.

Begin by offering a brief overview of your business idea highlighting what it does. Take reference from the below example written using Upmetrics AI assistant .

Further, paint a picture, briefly highlighting your consulting services, market scenario, competition, USP, marketing and sales strategies, and financial objectives.

Ensure that you adopt a storytelling approach while crafting your executive summary. Ideally, this section of your business plan should concisely summarize your entire business plan in a page or two.

So ensure that you strategically place the information within this section to keep the readers hooked.

Now be smart and revisit this section after you are done writing for every other section of your plan. A thorough understanding of your business plan at that time will enable you to craft a compelling summary easily.

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2. Company Overview

This section of a business plan helps the reader get a thorough understanding of your consulting firm.

The company overview offers a detailed description highlighting what type of consultancy you would run, its physical location, legal structure, mission objectives, history, and all such related information.

Begin by clearly stating the concept and niche of your consulting firm. Further, highlight whether you would be running a sole proprietorship or partnership, and if it’s the latter discuss the profit-sharing ratio.

Don’t forget to mention your business structure and whether or not will you run a Limited Liability Company (LLC).

This section is your chance to introduce your business objectives, core value proposition, and mission objectives. Highlight any milestones you plan to achieve or have already achieved and make this section insightful.

Refer to this example describing the short-term objectives of a consulting firm from an Upmetrics plan.

3. Competitor and Market Analysis

An in-depth analysis of the consulting industry, market, and competitors is essential to build a successful consulting business. This is the most crucial part of your consultancy business plan helping you identify your target market, emerging trends, competitors, and your advantage over them.

Market analysis

The market analysis section of your consultant business plan will help you evaluate the market condition, target market, and business growth opportunities for your consultancy business.

Begin by researching and analyzing the consultancy market size and the serviceable obtainable market of your specific consultancy.

Further, determine your target audience by creating a buyer’s persona of your ideal customer. In this customer analysis section, determine their demographic and psychographic details to get a clear understanding of who your customer would be.

Refer to this buyer’s persona written using Upmetrics AI assistant:

Lastly, identify the emerging market trends within your industry, potential risks, and the shifts in consumer behavior likely to influence your business.

Competitors analysis

In the competitive analysis section of your plan, identify the consulting firms and other businesses that offer direct or indirect competition to your business.

Your direct competitors are other consultants in your local market, while your indirect competitors are in-house experts, software solutions, and an industry-specific business community extending resourceful help.

Conduct a SWOT analysis of your key competitors and analyze them based on their service offerings, target demographics, pricing, and other relevant factors.

Highlight your competitive advantage over these firms, suggesting that there are ample opportunities for you to succeed despite the competition.

Here’s an example of a competitive advantage for a consultancy business using Upmetrics.

4. Service Offerings

Consulting businesses offer a variety of consulting services. In this section of your consulting business plan, you will create a clear list of all the services you will be offering.

The list can include various business consulting services such as:

• Strategy consulting
• Operation consulting
• Human resources consulting
• IT Consulting
• Risk and compliance consulting

Now, elaborate on these services to help your readers understand what it truly entails. Refer to this example of legal and compliance services brief description:

As part of our risk and compliance service, the company will offer:

• Draft, negotiate, and conclude ‘Joint Venture Agreements’, and ‘Memoranda of cases for one of our key clients. 
• Legal Advice & Consultation
• Case Litigation & Pleading
• Legal Translation
• Business Start-up Advice
• Management Consultancy
• Representation and Attorney Services
• Legal Compliance

Determine the pricing of these services and place it alongside your service list. Ideally, you should create differential and tiered pricing plans for your services to cater to different target audiences.

All in all, make this section an informative read for your readers helping them understand your unique business offerings.

5. Marketing Plan

A well-defined marketing plan is among the most important components of your consulting firm’s business plan. Well, It’s time to design your marketing strategies using your market research about the target customers and the potential clients.

Multifarious marketing efforts are essential to make your new business visibly famous in the market. Well, here are a few strategies that a successful consultant follows religiously:

Social media marketing

Choose different social media platforms to build your consultancy brand online. LinkedIn can be a good choice for a consultancy business followed by FaceBook and Instagram. Create your marketing plans for different platforms and be consistent with your posting there.

Informative website

Build an informative website for your consulting business and enhance its ranking on search engines by creating a dedicated content marketing program.

Email marketing

A well-defined email marketing program to attract new clients, newsletters for subscribed customers, and promotional services offer to convert a potential customer base.

Targeted advertising

Running a paid ads program to reach targeted small businesses and potential clients.

Refer to this example of marketing and promotion programs for your consultancy from Upmetrics.

In this section of your consulting business plan, also highlight your marketing budget and its allocation to different marketing activities.

6. Management Consulting Team

Introduce your managerial team in this section of your consultant business plan by showing how you have the right people to run a successful consultancy.

Begin by introducing the people at top managerial positions and offer a brief description depicting their skills, expertise, and experience in offering specific consulting services.

Refer to this example introducing the managing director of a consulting agency.

Mr. Ashton will serve as the Managing Director of CCI. A highly motivated and dynamic individual, Thomas boasts vast experience in the field of aesthetics having spent a career spanning 14 years essaying various white-collar roles for aesthetic companies across America. His ability to multi-task and expertly weave through operational pitfalls equips him with exceptional management and administrative skills. The US operations include sourcing, interacting, and building client relations across the industry value chain involving professional salons and end-user clientele. Mr. Ashton’s expert management and industry-specific skills will play an instrumental role in achieving the parent company’s goal of establishing a sustainable and reliable aesthetic brand in the US.

Don’t limit this section to the introduction of owners and managers. Instead, introduce every person who’s an asset to your business and can contribute significantly to your business goals.

In this section, you will also highlight the organizational design to offer a clear understanding of the hierarchy in your consulting firm. And lastly, don’t forget to add the salaries and wages of these people alongside their roles while creating your management plan.

7. Operational Plan

The operations plan shows that you don’t only have the means but also the knack to operate the consulting business efficiently.

This section of your business plan highlights the processes and procedures essential to run the everyday operations of your consulting business and the milestones you wish to achieve.

Confused what should you include in your operations plan? Let’s check this out:

Hiring plan

Mention the number of project managers, analysts, BD, administrative, and support workers needed for your business. Briefly describe the qualifications, skill sets, and experience for these roles and lay your hiring plan to hire employees.

Refer to this example of a hiring plan for a consultancy by Upmetrics.

Operational processes

Briefly explain the different processes and procedures of your business in the consulting industry. This includes processes for client acquisition, service delivery, project management process, quality assessment, and client retention.

Tools and equipment

Mention all the equipment you will require to deliver quality consulting services to the clients. Also, include the pricing of these equipment and how you plan to source them from the market.

Overall, think of smaller nuances and make this section as brief and detailed as possible. Consider it as a guidebook that will answer all the operational queries that arise while running the business.

8. Financial Outlook

A comprehensive financial plan is the most crucial component of your business plan and sometimes it is the only section investors or readers might be interested in.

So work on putting together a well-detailed financial plan with realistic financial forecasts to increase the weight of your consulting plan.

The projections in a financial plan are important because they help the readers gauge the financial viability of your business idea. They offer a clear picture of the profitability, growth potential, and cash-generating capacity of your consulting business.

To create a befitting plan, begin by offering a detailed insight into your startup costs, revenue streams, profit margins, operational costs, and cash flow projections. Gather these projections to work on your key reports.

Refer to different business plans to see what more could you add to your financial section apart from these key essentials:

• Balance sheet
• Profit and loss statement/ Income statement
• Cash flow statement
• Break-even analysis
• Investment plan

While making a financial plan, ensure that you figure out the calculations for the next 3-5 years. And yes, we agree that calculating all these financial projections from scratch can get overwhelming. However, with this financial forecasting tool from Upmetrics , the entire task of creating a detailed plan will get much easier and more effective.

Simply enter the details in the tab and let the tool undertake all the manual calculations and create engaging visual reports to add to your plan.

Get Your Free Management Consulting Business Plan

Need help writing the contents of your management consulting business plan? Well, here you go. Download our management consulting business plan pdf and start writing.

Our intuitive and modern consulting business plan template offers a step-by-step guide with relevant examples to speed up your process of writing an effective business plan. It will get your actionable plan ready while ensuring that you add all the crucial details to it.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Start preparing your business plan with Upmetrics AI

And here we are. Now that you are aware of how to write an effective business plan using our consulting business plan template, you are one step closer to starting your business with a bang.

But that’s not it. What if we tell you that your business planning process can be made easier and more efficient with a few cutting-edge tools? Well, the Upmetrics business planning app is here at your service.

With an AI assistant to speed up your writing process, financial forecasting tools to help you with projections, and thousands of free educational guides to help you set up the business- we think you get it all with Upmetrics.

Get started now.

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Frequently asked questions, what are the key components of a management consulting business plan.

While there are no fixed rules regarding what to include in your consulting business plan, you can ensure that you don’t miss adding these key components to your plan:

• Executive summary
• Company overview
• Market and competitor analysis
• Service offerings
• Management team
• Operations plan
• Financial plan

What financial projections should be included in the business plan?

While making your consulting business plan, ensure that you add the financial forecasts for startup costs, expenses, revenue, cash flow, sales, and expected profitability to your plan.

How often should I update my Management Consulting Business Plan?

Ideally, you should update your business plan at least once a year since you operate in a highly dynamic industry. However, if you feel that the yearly updates are insufficient, you can also review and update your plan every quarter.

How should I approach the funding section of my business plan?

Begin by calculating your startup costs and the actual monetary situation to evaluate the funding needs for your business. Thereafter check the potential funding sources and their application procedure to avail required funding.

As a consulting business, you can choose one of these funding sources:

• Private loan
• SBA approved loans
• Angel Investors
• Venture Capitalist firms
• Crowdfunding

Can the business plan help in securing funding or investments?

Absolutely it does. Investors, credit lenders, and banks will look after your business plan before accepting the funding request for your business. This is because a business plan offers a clear understanding of your business idea while simultaneously vouching for the financial feasibility of your plan.

What legal considerations should I include in my business plan?

Here are a few of the legal considerations you should make while writing your business plan:

• Business licenses and permits
• Health safety compliance
• Insurance coverage
• Legal business structure
• Employment laws

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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BUSINESS STRATEGIES

How to create a consultant business plan

• Nirit Braun
• Oct 30, 2023
• 13 min read

When launching your consulting business, one of the essential first steps is crafting a well-structured and detailed business plan. Your consulting business plan is like a strategic playbook that lays out your goals, tactics and financial projections. It not only steers you toward success but also equips you to adapt and thrive in the dynamic world of consulting.

Keep reading for tips on how to build a strong business plan for your business. Use the template provided at the end to get started on your own plan.

Looking to kick off your consultancy business? Create a business website today with Wix.

Why create a consultant business plan? Top benefits to consider

A business plan forces entrepreneurs to thoroughly evaluate their business idea, target audience and competitive landscape. This process clarifies their vision and mission, ensuring that they have a clear understanding of how their consultancy will provide value to clients. A business plan helps you in the following ways:

Create a business blueprint : With a business plan in place, entrepreneurs looking to start a business can make informed decisions based on a solid foundation of research and analysis. They can choose the most effective strategies for marketing, pricing and service delivery, enhancing their chances of success. Your business plan can also be used to explain what type of business you'll start - whether that's an LLC, Corporation or something else. Learn more about how to start an LLC .

Secure funding : The cost to start a consultancy business can range from around $60 to several thousand dollars . For those seeking external funding, a well-developed business plan demonstrates credibility and professionalism. Investors and lenders are more likely to support a venture with a thought-out plan that showcases its potential for growth and profitability.

Set measurable goals : A business plan sets measurable goals and performance metrics, which is vital with this type of business . This allows entrepreneurs to track their progress, adapt strategies as needed and celebrate milestones along the way.

Want to remind yourself of the basics? Learn more about how to start a service business .

How to create a successful consultant business plan in 6 steps

In this section, we'll break down the key components involved in crafting a successful consultant business plan in six steps.

Executive summary

Business and domain names

Market analysis and research

Operations plan

Marketing and advertising plan

Financial plan

01. Executive summary

An executive summary serves as a concise overview of the consultant's business plan, providing a snapshot of the key components and the business' essence. It's usually the first section investors, lenders and stakeholders read, so it must encapsulate the business' value proposition, objectives, strategies and projected growth. To write a clear executive summary for a consultant business make sure to keep it succinct yet informative. Clearly state the purpose of the business, the services offered, the target market and the unique value proposition. Avoid technical jargon that may confuse readers.

Then you can mention the business' strengths, such as the expertise of the consultants, unique methodologies or specialized services. Emphasize factors that set your consultancy apart from competitors.

Briefly discuss the market need for your services and how your consultancy plans to fulfill it. It’s worth noting that strategy and management consulting, as well as technology consulting, financial consulting and HR consulting are in high demand . Highlight any trends or changes in the industry that your business can capitalize on.

Remember to include a snapshot of your financial projections, indicating expected revenue, costs and profitability. This provides a glimpse into the business' potential financial success.

Example of an executive summary for a consultant business

"XYZ Consulting is a boutique consultancy firm specializing in digital transformation for small and medium-sized enterprises (SMEs). With a team of seasoned professionals, we offer tailored solutions to help businesses harness the power of technology for growth. Our unique approach blends strategic consulting with hands-on implementation, ensuring tangible results. In a rapidly evolving tech landscape, XYZ Consulting is poised to be the partner SMEs need to thrive. Our financial projections forecast a steady growth trajectory, with a focus on achieving profitability within the first two years. With a proven track record and a finger on the pulse of industry trends, XYZ Consulting is well-equipped to guide businesses toward digital success."

02. Business and domain names

Knowing how to name a business is crucial for a consultancy venture and a key step before you register your business . It's the foundation of your brand and influences how clients perceive your services. With Wix , you can use a free business name generator or consulting company name generator as helpful tools for brainstorming unique and memorable names. Ensure the name reflects your expertise and the services you offer.

Similarly, the domain name for your business website is vital. It should be easy to remember, relevant to your services and ideally, match your company name. Check the domain's availability using domain registration platforms. Ensure the domain name aligns with your consultancy's focus and services. Generally, this means keeping it short and easy to spell and pronounce.

Learn more: How to make a consulting website

03. Market analysis and research

Incorporating a thorough market analysis within your consultant business plan is essential. Understand the competitive landscape, target audience and market trends. Research your competitors' strengths and weaknesses, pricing strategies and client base. This information will shape your business strategies and help you identify gaps in the market that your consultancy can fill.

04. Operations plan

The operations plan outlines the logistical aspects of your consultancy. It covers location, premises, equipment and staffing requirements. Determine whether your consultancy will be home-based, have a physical office or operate virtually. Define the equipment and software needed to deliver services effectively. Outline your staffing needs, including the roles and expertise required.

05. Marketing and advertising plan

Your marketing and advertising plan outlines how you will promote your consultant business. Identify the most effective strategies to reach your target audience. Consider content marketing, social media campaigns, networking events and speaking engagements to showcase your expertise. Emphasize how your marketing efforts will build brand awareness and attract clients.

You’ll need to develop a suite of brand assets to use in your marketing as well, starting with a company logo. You can use a free logo maker to get a professional logo in minutes.

06. Financial plan

The financial plan is a critical component of any business plan. It outlines how you will raise money for your business initially and provides a timeline for reaching profitability. Detail your startup costs, including equipment, marketing expenses and personnel. Present your revenue projections, taking into account different pricing models and growth scenarios. Highlight your break-even point and the strategies you'll employ to achieve profitability.

By addressing each part of their plan, entrepreneurs can create a robust business plan that guides them toward achieving their business goals and building a reputable consulting brand.

Consultant business plan examples

These templates illustrate two hypothetical consultant business plans, each tailored to a specific niche. These are just templates and should be adapted to your specific business goals and industry dynamics.

Consultant business plan template 1: XYZ Digital Consultants

XYZ Digital Consultants is a pioneering consultancy firm focused on digital transformation for businesses seeking to thrive in the digital age. Our team of experienced professionals offers strategic guidance and hands-on implementation to drive growth through technology adoption. With projected profitability within two years and a commitment to excellence, XYZ Digital Consultants is poised to lead businesses into a successful digital future.

Company and domain name

Company name: XYZ Digital Consultants

Domain name: xyzdigitalconsultants.com

Market opportunity: The rapid shift toward digital operations has created a substantial demand for expert guidance. Our analysis reveals a gap in the market for holistic digital transformation solutions tailored to the needs of SMEs.

Competitor research: We've identified key competitors and their strengths, which informs our strategy to emphasize personalized service and comprehensive implementation.

Location: Primarily virtual, with occasional in-person consultations as needed.

Premises: Home-based setup with access to modern communication tools.

Equipment: High-speed internet, latest software tools and virtual meeting platforms.

Staffing: Founder and lead consultant, supported by contract specialists as projects demand.

Content marketing: Regular blog posts on digital transformation trends, case studies and client success stories.

Social media campaigns: Active presence on LinkedIn and X to engage with potential clients and share valuable insights.

Networking events: Participation in industry webinars, seminars and local business events to showcase expertise.

Speaking engagements: Leveraging speaking opportunities at conferences and workshops to establish authority in the field.

Startup costs (equipment, website development, marketing materials): $15,000

Revenue projections (year one): $150,000

Revenue projections (year two) : $300,000

Break-even point: Achieved by the end of year one

Funding: Initial investment and savings from the founder

Consultant business plan template 2: LeadersEdge Consultants

LeadersEdge Consultants is a dynamic consultancy dedicated to leadership development and organizational excellence. Our experienced team offers customized programs that empower leaders to drive positive change. With a projected growth trajectory and a commitment to fostering impactful leadership, LeadersEdge Consultants is poised to transform organizations and elevate their success.

Company name: LeadersEdge Consultants

Domain name: leadersedgeconsultants.com

Market opportunity: Our analysis reveals a growing need for leadership development programs in diverse industries.

Competitor research: We've identified competitors' offerings and recognized an opportunity to provide a unique blend of coaching, training and strategy implementation.

Location: Virtual consultations, with the option for on-site workshops

Premises: Virtual office setup with video conferencing capabilities

Equipment: High-quality audiovisual tools, assessment software and learning platforms

Staffing : Founder will serve as the lead consultant, supported by certified leadership coaches

Customized workshops: Designing tailored leadership development programs for individual organizations.

Webinars: Hosting webinars on leadership best practices to showcase expertise and engage potential clients.

Thought leadership content: Publishing whitepapers, eBooks and video content on leadership topics.

Collaborations: Partnering with HR and talent development professionals to expand reach.

Startup costs ( making a website , training materials) : $10,000

Revenue projections (year one): $120,000

Revenue projections (year two): $250,000

Break-even point: Achieved within the first six months

Funding: Initial investment from the founder.

How much should you be charging as a consultant?

The amount you charge as a consultant will depend on a number of factors, including:

Your experience and expertise

The type of consulting services you offer

The value you provide to your clients

The market rate for consulting services in your field

In general, consultants charge between $100 and $500 per hour. However, some experienced and highly specialized consultants can charge upwards of $1,000 per hour.

To determine your consulting rate, you can use the following formula:

Consulting rate = Hourly rate * Value multiplier

Your hourly rate should reflect your experience and expertise, as well as the type of consulting services you offer. For example, if you have 10 years of experience and you offer specialized consulting services, you can charge a higher hourly rate than a consultant with less experience and who offers more general consulting services.

Your value multiplier should reflect the value you provide to your clients. For example, if you can help your clients to achieve significant results, you can charge a higher value multiplier.

Here is an example of how to use the formula:

Consultant: Experienced consultant with 10 years of experience offering specialized consulting services

Hourly rate: $200 per hour

Value multiplier: 2

Consulting rate: $200 per hour * 2 = $400 per hour

Can a consulting business be profitable?

Yes, a consulting business can be profitable. In fact, consulting is one of the most profitable industries in the world. According to a report by IBISWorld, the average profit margin for consulting businesses is 20%. This means that for every $100 in revenue, consulting businesses generate $20 in profit.

There are a number of factors that contribute to the profitability of consulting businesses. First, consultants are able to charge high fees for their services. Second, consulting businesses have relatively low overhead costs. Third, the demand for consulting services is high, and it's only expected to grow in the coming years.

Of course, not all consulting businesses are successful. Some consultants struggle to find clients or to charge high enough fees. Others may not be able to deliver the results that their clients expect. However, for consultants who are able to overcome these challenges, the potential rewards are great.

Here are some tips for increasing your chances of success as a consultant:

Specialize in a high-demand area of consulting. This will allow you to charge higher fees and attract more clients.

Build a strong reputation and network of clients. This will help you to generate word-of-mouth referrals and land new clients.

Market your services effectively. Make sure that potential clients know about your services and how you can help them.

Deliver high-quality results. This is the most important thing you can do to ensure that your clients are satisfied and that they continue to use your services in the future.

How much does it cost to start a consulting business?

The cost to start a consulting business can vary depending on a number of factors, such as the type of consulting services you offer, the size of your business and your location. However, in general, you can expect to spend between $10,000 and $50,000 to start a consulting business.

Here is a breakdown of some of the typical start-up costs for a consulting business:

Business formation: $100 to $1,000

Website and domain name: $100 to $2,500

Marketing and advertising: $500 to $5,000

Office equipment and supplies: $500 to $5,000

Professional liability insurance: $500 to $1,000

Other miscellaneous expenses: $500 to $5,000

Total start-up costs: $10,000 to $50,000

You can reduce your start-up costs by working from home, using free or low-cost marketing tools and purchasing used equipment. You can also start your consulting business part-time while you continue to work your full-time job. This will give you a chance to generate revenue and build a client base before you leave your full-time job.

If you need financial assistance to start your consulting business, you may be able to qualify for a loan from a bank or credit union. You may also be able to find investors who are willing to invest in your business.

Which clients to avoid and which to take on?

Here are some tips on which clients to avoid and which to take on in a consulting business:

Clients to avoid

Clients who aren't willing to pay your rates. If a client isn't willing to pay your rates, it's a sign that they don't value your services.

Clients who are unrealistic about their expectations. If a client has unrealistic expectations about what you can achieve, you're likely to set yourself up for failure.

Clients who are difficult to work with. If a client is demanding, rude or disrespectful, it's best to avoid them.

Clients who aren't a good fit for your business. If a client isn't in your target market or if their business isn't aligned with your values, it's best to decline working with them.

Clients to take on

Clients who are willing to pay your rates. This shows that they value your services and are committed to working with you.

Clients who have realistic expectations. This makes it more likely that you will be able to meet their needs and exceed their expectations.

Clients who are easy to work with. This will make the consulting process more enjoyable and productive for both of you.

Clients who are a good fit for your business. This means that they're in your target market and that their business is aligned with your values.

In addition to the above, here are some other factors to consider when deciding which clients to take on:

Your own skills and experience. Make sure that you have the skills and experience to help the client achieve their goals.

The client's budget. Make sure that the client has a budget that's sufficient to cover your fees.

The client's timeline. Make sure that you have the time and resources to meet the client's timeline.

Your gut feeling. If you have a bad feeling about a client, it's best to trust your gut and decline working with them.

It's important to be selective about the clients you take on. By avoiding difficult clients and focusing on good-fit clients, you can set yourself up for success in your consulting business.

Consultant business plan FAQ

What qualifies you as a consultant.

To qualify as a consultant, you need to have the expertise and experience in the area that you're consulting in. You also need to be able to communicate your ideas effectively and build relationships with clients.

How do you start off as a consultant?

How to make 6 figures as a consultant, how do you pay yourself as a consultant, do consultants pay their own taxes, want to create another business plan.

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How To Start A Consulting Business In 2024

Updated: Feb 11, 2024, 3:43pm

Table of Contents

1. outline your plan, 2. register your consulting business, 3. determine services and pricing, 4. build your website, 5. market your consulting business, frequently asked questions.

Those with a high degree of expertise in a particular field can leverage their knowledge to build a profitable consulting business. Whether you’re in between jobs or looking to make a change, learning how to start a consulting business is the first step to making great use of your skills. In return, you can create a lucrative business and can charge upwards of $300 per hour–all for sharing your expertise with others. Here’s everything you need to know.

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To get started, you’ll want to put together a strong business plan. While you don’t have to stick to every single thing, it’s a good idea to have guidance for your business.

The first choice to make is your business name. Since you’re starting an individual consulting business, your business name can be your personal name as a trade name or a business name . If you have a name that you want to use that feels more recognizable and eye-catching, make sure you factor the registration costs into your original budget.

If you need to design a logo, you can do that yourself or reach out to designers. The logo will help you start marketing to your target audience, whether that’s business owners or companies or individuals. If you want to consult in a certain industry, you should start building a list of contacts to reach out to when you’re ready to launch and take on new clients.

With all of this information ready to go, you can start on the administrative side of your business.

Before you start doing official business, you’ll need to register with your state’s Secretary of State as a sole proprietorship or as an LLC. You should also check to see if there are other legal requirements for small businesses in your state. If you are planning to grow the business, registering as an LLC will make it easier to track your business expenses for taxes. It can cost about $50 to $100 to register your business online, depending on the state.

If you’re starting a consulting business as a side hustle, it might be worth it to invest in a business to register your LLC for you.

Start an LLC Online Today With ZenBusiness

Click on the state below to get started.

Determining your rates also means determining what kind of services you want to offer. Consultants offer a variety of services. You can offer a wide range of support for a business, but do less of a deep dive. Alternatively, you can be hyper-specific in your expertise and go deep on a certain aspect of a company’s business. For example, if you’re an HR consultant, you can take a larger view of a company’s HR operations, or focus on their hiring practices for a specific department.

You should also consider if you want to take on short-term or long-term clients. Doing one-off consulting sessions is still a lot of work, even compared to long-term consulting. Your pricing strategy should reflect the amount of preparation you have to do. It also may depend on your industry to decide how you want to price your services: either a one-time payment, hourly rate or monthly retainer.

A consulting business needs a website so clients can find you easily. If a business is doing research into finding a consultant in your industry, you want your website to pop up for them. If you are familiar with SEO best practices , you can do this yourself, or hire someone to optimize your website.

Here are the best platforms for building a professional website:

• Squarespace: This platform is very user-friendly and has plenty of award-winning templates. In addition to great designs, it’s also affordable with all-inclusive plans starting at $16 per month. However, it does lack more robust customization options for more experienced coders.
• Wix: This all-in-one website builder offers a drag-and-drop site editor, making web design both easy and highly flexible. However, it’s a bit more expensive than Squarespace with plans starting at $16 per month.
• WordPress: The world’s most popular content management system, WordPress, is not the most user-friendly, though it is one of the most customizable and affordable options (as you only have to pay for web hosting for around $4 to $8 per month). It’s the best option for those who have very unique website needs or experience with the CMS.

Building a website can seem intimidating, but many of the best website builders make it easy for beginners to create a site without any experience or coding knowledge. However, keep in mind that websites do require ongoing maintenance, so you might want to hire a virtual assistant or work some time into your calendar to do regular website maintenance and updating.

Marketing a new business can be difficult, but being diligent about finding new marketing channels and leveraging connections will make it a lot easier. Try these simple and low-cost solutions to start marketing.

• Search engine optimization to rank on Google
• Online business directories, such as Google My Business, Yelp or Yellow Pages
• Pay-per-click advertising, such as Google Ads, Facebook Ads or YouTube Ads
• Subreddits for entrepreneurs or your industry
• Slack groups for freelancers
• Find local networking groups, such as local business associations
• Participate in industry networking events

Working on this yourself, in the beginning, will require a fair amount of time, but when your business grows, you might be able to hire a social media strategist or partner to work on finding business leads.

Where can a consulting business find government contracts to apply for?

You can look on this website that lists government agencies that take contractors and consultants .

How can a consulting business get clients using Fiverr?

Fiverr allows anyone to sign up and sell their services as a freelancer. A lot of companies looking for freelance writing, design or marketing work use Fiverr, so it would be a good place to do consulting for content strategy.

Is it possible to start a consulting business on the side?

If you are comfortable with working with a smaller number of clients and are realistic about your time, you can easily run a consulting business on the side. It’s important to be open with your clients about your time constraints to build trust.

What are some good fields to start a consulting business in?

The consulting business you start is going to be based on your strengths and skills, but some of the potential fields where you might enjoy some of the most success include public relations, publishing, human resources (HR) marketing, computer programming, career consulting, advertising and accounting.

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Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry.

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University. Additionally, she is a Columnist at Inc. Magazine.

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The blueprint for crafting your effective consulting business plan

Keith Rabkin Chief Revenue Officer for PandaDoc

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Ever tried to put up a tent blindfolded? Navigating the consulting world without a business plan can feel the same overcomplicated.

We created this guide to help you set a strategic, actionable plan on how to operate your early-stage consulting business.

We’ll help you define your services, set achievable and clear goals, and arrange strategies for growth.

So are you ready to pitch your tent with both eyes open?

Key takeaways

• A consulting business plan starts with defining your unique selling proposition (USP). Identify a niche and ideal client by conducting thorough market research and competitive analysis.
• Develop a 12-month marketing strategy with specific targets. Allocate 10-15% of projected revenue to marketing for optimal results.
• Realistically estimate your expenses and revenue based on billable hours/fees and retention rate assumptions.
• Use a proven template rather than starting from scratch to not overlook important elements of the plan.

What is a consulting business plan?

A business plan is a document covering all the aspects of your future consulting business in terms of achieving business goals.

In other words, this specific plan removes the guesswork from how one runs their consulting business.

In the upcoming sections, we’ll explain the key pieces needed to create your business plan.

Your consulting business plan should offer a detailed overview of your consulting firm.

Let’s briefly review the essential sections of the plan and what should be in each of them.

• Executive summary is a short overview of the main points of the document.
• Business overview highlights the mission, vision, history, and services offered by the consulting firm.
• Management team provides bios and expertise of key team members.
• Customer analysis defines target clients, their needs, and how the consulting service solves their problems.
• Industry analysis evaluates the landscape including growth, trends, regulations, and competition.
• Competitive analysis compares the consulting firm’s positioning and offerings versus competitors.
• Marketing plan outlines promotional strategies, lead generation, and metrics.
• Operations plan details the logistics of service delivery, staffing, resources, and customer service principles.
• Financial plan projects costs, revenue, cash flow, and profitability timelines.

Key steps for developing your consulting business plan

Building a thriving consulting business requires thorough planning and a keen eye for detail. Let’s walk through this journey step-by-step.

Step 1. Identify your niche and ideal clients

Kick off your business plan by diving deep into industry research. Look for sectors and trends where there’s a gap that your expertise can fill.

To validate the demand, consider surveying potential clients.

Once you’ve got a handle on that, create a detailed profile of your ideal client , considering factors like their company size, revenue streams, challenges, and objectives.

By the way, focusing on ideal buying personas in B2B (with all these fictitious names, bios, etc.) is one of the greatest sales mistakes, according to Corporate Visions’ findings and Gartner B2B sales research results.

Step 2. Analyze the competition

Understanding your competition is crucial. Examine competitor services offered, how they are marketed, and what they charge.

This is your chance to find your unique selling proposition.

Step 3. Set your rates and service packages

Following the actual industry norms to appoint your consulting fees. However, the price that you use should mirror both your expenses as well as the premium value that your expertise brings to your clients.

Let’s say you work out your overhead costs (utilities, office rental, equipment, etc.) to be roughly $50 per hour, while your hourly work value, which includes your experience and knowledge in this field, is $100.

So, your primary costs in total for an hour of consultation would be $150.

A standard practice in the consulting industry is to have a 100% markup rate on your primary costs.

Applying that rule to your scenario would mean doubling your total cost of $150, which brings your final hourly rate to $300.

Create bundled service packages that combine different services, such as business strategy consultation, market analysis report, and a follow-up action plan. You can offer these at a discounted rate compared to purchasing each service individually.

For example, Bronze is an entry-level package with initial consultation and some basic professional business advice.

Silver is a mid-tier package covering everything from the Bronze plus a detailed action plan for improving business operations.

Finally, the Gold package is a top-tier one complementing what’s in Silver with extended support and follow-ups.

Step 4. Create a marketing and client acquisition strategy

Outline a 12-month marketing strategy that includes a mix of content marketing, events, referrals, and lead-generation campaigns .

Set achievable targets for each quarter, focusing on metrics like leads generated, sales appointments set, and deals closed.

When it comes to budgeting, aim to allocate 10%-15% of your projected revenue or even more to marketing.

According to Gartner, the average startup spends 11.2% of its revenue on marketing.

Step 5. Calculate potential project expenses and revenue

You’ll need to account for various expenses, including staffing, office space, equipment, software, and marketing.

Don’t forget about professional services, travel, and other overhead costs.

On the revenue side, forecast your monthly earnings based on projected billable hours or fixed fees, and assume a client retention rate between 80%-90% .

Extend these projections to create 3 to 5-year profit and loss statements and cash flow forecasts.

Step 6. Plan for sustainability and growth

Your business plan shouldn’t just be a launchpad; it should be a roadmap for long-term growth.

Given that self-funding for growth beyond 20% annually is often unrealistic for most consulting firms, you’ll need a plan B.

One smart move is to establish strategic financial partnerships with investors, banks, or other financial institutions.

These partnerships can offer the capital injection you need to scale your services, break into new markets, or even acquire other businesses. 

More than just a financial lifeline, these partnerships can also provide invaluable business insights and open doors to new opportunities.

Step 7. Use an appropriate consulting business plan template

Having a consulting business plan template is like having a roadmap for your contractual relationships.

It ensures you don’t overlook key elements such as scope, payment terms, and legal considerations.

Consultant Business Plan Template

Used 4999 times

An example of a document outlining your strategy for launching or expanding your consulting firm is a Consultant Business Plan Template. The essential elements include a summary of the company, team, sector, rivals, target audience, and an operations and marketing strategy.

Customize it and review it with a legal advisor to ensure compliance.

Why developing a consulting business plan is so important

Let’s talk about the positive outcomes of planning. A well-defined consulting business plan…

…directs your business operations

A business plan defines your strategy and major goals, simplifying day-to-day decision-making and helping you focus on long-term objectives.

In other words, you know what to do next at any given moment of operating your early-stage consulting business.

…mitigates your risks

With a comprehensive business plan in place, you can anticipate and prepare for potential challenges, turning risks into opportunities.

…attracts investors

If you want to secure investments, the first thing venture investors or business angels will ask you for is (surprise, surprise) a business plan.

Not just any plan, but a detailed, convincing blueprint of your consulting business that highlights growth and potential returns.

Wrapping up

A well-crafted consulting business plan is essential for guiding your strategy, operations, marketing, finances, and growth.

Carefully working through each component will ensure you launch your firm following a clear plan on how to achieve success.

Using business planning platforms like PandaDoc that offer templates and tools can help streamline creating a professional plan.

The software also enables real-time collaboration so you can work seamlessly with colleagues and advisors.

PandaDoc is not a law firm, or a substitute for an attorney or law firm. This page is not intended to and does not provide legal advice. Should you have legal questions on the validity of e-signatures or digital signatures and the enforceability thereof, please consult with an attorney or law firm. Use of PandaDocs’ services are governed by our Terms of Use and Privacy Policy.

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Consulting Firm Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

• Consulting Firm Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Consulting Firm Plan Here

Consulting Business Plan

If you need a business plan for your consulting business, you’ve come to the right place. Our consulting business plan template below has been used by countless entrepreneurs and business owners to create business plans to start or grow their consulting businesses.

Important note: If you are looking for a business plan consultant , specifically, a consultant to help you write your business plan, we recommend Growthink who offers a business plan consultation service here.

Sample Consultant Business Plan & Template

Below are links to each section of your consulting business plan template:

• Executive Summary
• Company Overview
• Industry Analysis
• Customer Analysis
• Competitive Analysis
• Marketing Plan
• Operations Plan
• Management Team
• Financial Plan

Next Section: Executive Summary >

Consulting Business Plan FAQs

What is a consulting business plan.

A consulting business plan is a plan to start and/or grow your consulting firm. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan, and details your financial projections.

You can  easily complete your consulting firm business plan using our Consulting Firm Business Plan Template here .

What Are the Main Types of Consulting Firms?

There are many types of consulting firms. Most consultant companies are in business concentrations such as Management, Strategy, Operations, IT, Human Resources, Financial Advisory, and Marketing/Sales. There are also firms that are singularly focused such as those that offer business plan consulting.

What Are the Main Sources of Revenue and Expenses for a Consulting Business?

The primary source of revenue for consulting firms are fees paid by the client. The client will either sign a contract or agreement of the services it will choose and the pricing for those services beforehand.

The key expenses for a consulting business are the cost of leasing the office, employee cost, marketing/advertising costs, and any office technology or software.

How Do You Get Funding for Your Consulting Business?

Consulting businesses are most likely to receive funding from banks. Typically you will find a local bank and present your consulting business plan to them. Angel investors and other types of capital-raising such as crowdfunding are other common funding sources.

What are the Steps To Start a Consulting Business?

Starting a consulting business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Consulting Business Plan - The first step in starting a business is to create a detailed consulting business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your consulting business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your consulting business is in compliance with local laws.

3. Register Your Consulting Business - Once you have chosen a legal structure, the next step is to register your consulting business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your consulting business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Consulting Equipment & Supplies - In order to start your consulting business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your consulting business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful consulting business:

• How to Start a Consulting Business

Where Can I Get a Consulting Business Plan PDF?

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

Crafting a Business Plan for Management Consulting: A Step-by-Step Guide

By henry sheykin, get full bundle.

Are you considering starting a management consulting firm? The consulting industry in the US is thriving, with steady growth and a projected worth of $325 billion in 2022 [1] . One popular business model for management consulting firms is the project-based model, where clients seek specialized expertise for specific assignments. In this blog post, we will discuss how to write a business plan for a management consulting firm using a 9-step checklist, ensuring you have a clear roadmap to success.

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Step 1: Identify target market and industry trends

Before diving into your business plan, it's crucial to identify your target market and stay updated on industry trends. Understand the needs, challenges, and preferences of your potential clients to tailor your services effectively. Keeping an eye on industry trends will help you stay ahead of the competition and offer the most relevant solutions.

Step 2: Conduct market research

Thorough market research is essential to gather insights about your potential clients, their pain points, competitors, and market opportunities. This research will equip you with the necessary knowledge to position your firm and develop strategies to attract clients.

Step 3: Define your unique value proposition

To stand out in the crowded consulting market, it's vital to define your unique value proposition. Determine what sets your firm apart from competitors and how your services can benefit clients. Developing a strong and compelling value proposition will attract and retain clients.

Step 4: Identify potential competitors

Identify and analyze your potential competitors to understand their strengths, weaknesses, and market positioning. This analysis will help you refine your own strategies and differentiate your firm from competitors.

Step 5: Determine your business structure

Choose the most suitable business structure for your management consulting firm, whether it's a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure offers different advantages and legal obligations—consult with professionals to make an informed decision.

Step 6: Develop a pricing strategy

Create a well-defined pricing strategy based on your services, market demand, competition, and desired profit margins. Ensure your pricing aligns with the value you provide and reflects your expertise and experience.

Step 7: Identify key resources and partners

Identify the key resources and partnerships required to deliver high-quality consulting services. This may include industry experts, technology tools, strategic alliances, or professional networks that can enhance your firm's capabilities.

Step 8: Create a marketing and sales strategy

Develop a comprehensive marketing and sales strategy to promote your consulting services. Define your target audience, key messaging, and the most effective channels to reach potential clients. Craft a compelling marketing plan to attract and retain clients.

Step 9: Develop financial projections

Create financial projections for your management consulting firm, including revenue forecasts, expense budgets, and cash flow analysis. This step will help you understand the financial feasibility of your business plan and demonstrate your firm's profitability potential to potential investors or lenders.

Writing a business plan for your management consulting firm is a critical step to success. By following this 9-step checklist, you can ensure that your plan is comprehensive and well-thought-out, providing a solid foundation for your future operations.

References: [1] [Source: Statista](https://www.statista.com/statistics/535576/management-consulting-market-size-in-the-us/)

Identify Target Market And Industry Trends

Before starting a management consulting firm, it is crucial to identify your target market and understand the prevailing industry trends. By doing so, you can position your firm strategically and tailor your services to meet the specific needs of your target clients.

To identify your target market, consider the industries or sectors where you have expertise and experience. Assess which industries are in need of management consulting services and where your skills can provide the most value. Focus on industries that are growing, have a demand for specialized consulting services, or are undergoing significant changes.

• Conduct market research to gain insights into the needs and challenges faced by potential clients in your target market.
• Identify the key players and decision-makers within the target industries to establish relationships and build networks.
• Stay updated on industry trends and emerging technologies that may impact your target market.

To understand industry trends, subscribe to industry publications, join professional associations, and attend relevant conferences or events. This will help you stay informed about market dynamics, technological advancements, regulatory changes, and emerging opportunities in your target industries.

By identifying your target market and staying updated on industry trends, you can position your management consulting firm as a trusted advisor and successfully address the evolving needs of your clients.

Conduct Market Research

Market research is a crucial step in writing a business plan for management consulting. It helps you gather valuable information about your target market, industry trends, and potential clients. By conducting thorough market research, you can gain insights into the needs and preferences of your target audience, identify potential opportunities, and make informed decisions about your consulting services.

To conduct effective market research, start by:

• Defining Your Target Market: Identify the specific industry or industries you want to focus on. Narrow down your target market based on factors such as company size, location, and industry sector. This will help you tailor your services to meet their unique needs.
• Collecting Data: Use a combination of primary and secondary research methods to gather data. Primary research involves collecting data directly from your target market through surveys, interviews, or focus groups. Secondary research involves analyzing existing data from credible sources such as government reports, industry publications, and trade associations.
• Analyzing Competitor Landscape: Study your competitors to understand their strengths, weaknesses, and market position. Identify what sets your consulting firm apart and how you can differentiate yourself in the market.

Tips for Conducting Market Research:

• Clearly define your research objectives to stay focused.
• Use a mix of qualitative and quantitative research methods for comprehensive insights.
• Choose reliable sources for secondary research to ensure accuracy.
• Segment your target market to tailor your services effectively.
• Regularly update your research to stay informed about industry trends and changes.

Conducting market research not only helps you understand your target market better but also enables you to make data-driven decisions when developing your business plan. By incorporating the findings from your research into your plan, you can demonstrate to potential stakeholders that you have a deep understanding of the market and the competitive landscape, increasing the chances of success for your management consulting business.

Define Your Unique Value Proposition

Defining your unique value proposition is crucial for a management consulting firm as it sets you apart from your competitors and communicates the specific benefits and value you offer to your clients. Your unique value proposition should be the central focus of your business plan, as it will guide your marketing efforts and help you attract and retain clients.

To define your unique value proposition, consider the following steps:

• Identify your target market: Determine your ideal client profile and understand their needs, pain points, and goals. This will allow you to tailor your value proposition to address their specific challenges and provide solutions that resonate with them.
• Highlight your expertise and experience: Showcase your firm's unique combination of knowledge, skills, and experience. This could include specialized industry expertise, a track record of successful projects, or a team of experts with diverse backgrounds. Clearly communicate the benefits that your expertise brings to clients.
• Emphasize your approach and methodology: Explain how your approach sets you apart from your competitors. Whether it's a unique problem-solving methodology, innovative tools and technologies, or a client-centric approach, emphasize the distinctive aspects of your consulting process that deliver value to your clients.
• Understand your clients' desired outcomes: Gain a deep understanding of your clients' goals and desired outcomes. Clearly articulate how your consulting services will help them achieve these outcomes and provide tangible results. This will demonstrate the value your firm brings in helping clients achieve their objectives.

Tips for Defining Your Unique Value Proposition:

• Focus on the benefits: Clearly communicate the specific benefits and outcomes your clients can expect from working with you. This will differentiate you from competitors who may only focus on the features of their services.
• Keep it concise: Craft a succinct and compelling statement that clearly communicates your unique value proposition. Avoid jargon or complex language that may confuse or alienate potential clients.
• Stay customer-centered: Your value proposition should be centered around addressing the clients' needs and solving their problems. Make sure to align your messaging with their pain points and aspirations.
• Test and refine: Continuously test and refine your value proposition based on feedback from clients, as well as market and industry trends. This will ensure that it remains relevant and resonates with your target audience.

By clearly defining your unique value proposition, you will position your management consulting firm as the go-to solution for your target market's specific needs. This will not only attract clients but also differentiate you from competitors, setting the foundation for a successful consulting business.

Identify Potential Competitors

Identifying potential competitors in the management consulting industry is a crucial step in developing your business plan. Understanding who your competitors are and how they operate can provide valuable insight into your target market, pricing strategies, and potential areas of differentiation.

1. Start by conducting thorough research on existing management consulting firms in your target market. Look for firms that offer similar services or have a similar target audience. Explore their websites, review their case studies, and analyze their client testimonials to gain a better understanding of their strengths and areas of expertise.

2. Pay attention to the size and scale of your potential competitors. Are they large consulting firms with a global presence, or are they smaller boutique firms focusing on niche areas? This information can help you assess the competitive landscape and determine where your firm could fit in.

• Consider reaching out to industry professionals or attending industry conferences and events to gather information about potential competitors.
• Take note of any unique or innovative approaches your competitors are using, as well as any gaps in the market that they may have overlooked.
• Analyze your competitors' pricing strategies and see how they position themselves in the market. This information can help you determine your own pricing strategy and identify areas where you can differentiate yourself.

3. Look beyond direct competitors and consider indirect competitors as well. These may include other professional services firms or in-house consulting teams within larger organizations. Understanding how these alternative options are meeting the needs of clients can help you position your firm more effectively.

4. Evaluate the strengths and weaknesses of your potential competitors. This analysis can help you identify areas of opportunity where you can differentiate your firm and provide unique value to clients.

Remember, the goal of identifying potential competitors is not to replicate their strategies, but rather to gain valuable insights and develop your own positioning and differentiation strategies. By understanding the competitive landscape, you can effectively position your management consulting firm and stand out in the market.

Determine Your Business Structure

When starting a management consulting firm, one of the most important decisions you will need to make is determining your business structure . This decision will have legal, financial, and operational implications for your firm, so it is crucial to carefully consider your options.

There are several common business structures for consulting firms, including sole proprietorship, partnership, limited liability company (LLC), and corporation. Each structure has its own advantages and disadvantages, so you'll need to assess which one aligns best with your goals and needs.

• Sole Proprietorship: This is the simplest and most common structure for small businesses. As a sole proprietor, you have complete control over your consulting firm, but you are also personally liable for any debts or legal issues.
• Partnership: If you plan to start your consulting firm with one or more partners, forming a partnership may be a suitable option. Partnerships can be general partnerships, where all partners share equal responsibility, or limited partnerships, where there is at least one general partner who assumes unlimited liability and one or more limited partners who have limited liability.
• Limited Liability Company (LLC): An LLC combines the liability protection of a corporation with the tax benefits and flexibility of a partnership. This structure offers personal asset protection for owners, known as members, and allows for a flexible management structure.
• Corporation: Forming a corporation creates a separate legal entity from its owners, known as shareholders. This structure provides limited liability protection for shareholders but requires more formalities, such as holding regular meetings and maintaining corporate records.

Choosing the right business structure for your management consulting firm requires careful consideration of factors such as liability, taxes, management structure, and future growth plans. It is recommended to consult with a legal and financial advisor to fully understand the implications of each option and make an informed decision.

• Consider the long-term goals and growth prospects of your consulting firm when selecting a business structure.
• Consult with a legal professional to ensure compliance with applicable laws and regulations.
• Take into account the potential tax implications of each business structure.
• Review the liability protection offered by each structure to safeguard your personal assets.

Develop A Pricing Strategy

Developing a pricing strategy is crucial for management consulting firms to ensure they are accurately pricing their services and generating revenue that aligns with their value proposition. Here are the key steps to consider when developing your pricing strategy:

• 1. Understand the Market: Before setting your prices, it is essential to conduct market research to understand the pricing norms and trends within the management consulting industry. This will help you determine a competitive and realistic pricing range for your services.
• 2. Assess Value Proposition: Consider the unique value you offer to clients and how it differentiates you from your competitors. Your pricing should reflect the quality and expertise of your services.
• 3. Determine Cost Factors: Analyze your cost structure, including overhead expenses, employee salaries, technology investments, and any additional costs associated with delivering your services. Understanding your costs will help you set prices that cover expenses and generate profit.
• 4. Choose Pricing Models: There are various pricing models you can adopt, such as hourly rates, fixed project fees, or retainer-based fees. Each model has its advantages and disadvantages, so choose the one that aligns with your business objectives and target market.

Tips for Developing an Effective Pricing Strategy:

• Consider offering different pricing tiers based on the level of service or expertise provided.
• Regularly review and adjust your pricing strategy as market dynamics change.
• Offer package deals or bundled services to attract clients and create additional value.
• Provide transparent pricing information to clients upfront to build trust and enhance credibility.

By following these steps and considering the tips mentioned above, you can develop a pricing strategy that ensures your management consulting firm remains competitive, profitable, and attractive to potential clients.

Identify Key Resources And Partners

Identifying key resources and partners is an essential step in writing a business plan for management consulting. These resources and partnerships will play a crucial role in the success and growth of your consulting firm. Here are some important considerations:

• Expertise and Skills: Determine the expertise and skills required to deliver your consulting services effectively. Assess your team's capabilities and identify any gaps that need to be filled. This may involve hiring consultants with specialized knowledge or partnering with other firms to access their expertise.
• Tools and Technology: Identify the tools and technology necessary to support your consulting operations. This may include project management software, data analytics tools, or communication platforms. These resources will help you streamline your processes and deliver high-quality services to your clients.
• Industry Connections: Identify potential partners or contacts within your target industry. Building alliances with industry experts, professional associations, or complementary service providers can provide valuable networking opportunities and access to potential clients.
• Financial Resources: Evaluate your financial resources and determine how you will fund your consulting business. This may involve securing initial investments, obtaining loans, or seeking funding through grants or partnerships.
• Support Services: Consider the support services that you will need to run your consulting firm efficiently. This may include administrative support, legal services, or technological support. Determine whether you will hire in-house staff or outsource these services to external providers.
• Identify potential partners by attending industry events, conferences, and networking sessions.
• Build relationships with other consulting firms or professionals who offer complementary services.
• Consider forming strategic alliances or joint ventures to expand your service offerings.
• Regularly assess and update your list of key resources and partners to adapt to changing market dynamics.

Create A Marketing And Sales Strategy

Creating a marketing and sales strategy is essential for the success of your management consulting firm. It involves identifying your target market, developing effective marketing tactics, and implementing a sales process to attract and convert potential clients. Here are some important steps to consider:

• Identify your target market: Clearly define the industries, companies, and individuals who are most likely to benefit from your consulting services. Understand their needs, challenges, and preferences to tailor your marketing efforts accordingly.
• Develop effective marketing tactics: Determine the best channels and platforms to reach your target market. This might include creating a professional website, leveraging social media, attending industry events, or publishing informative content through blogs or whitepapers.
• Implement a lead generation strategy: Use various marketing techniques to attract potential clients and nurture relationships with them. This might involve offering free consultations, providing valuable resources, or offering discounts or incentives for referrals.
• Build a strong online presence: In today's digital age, having a strong online presence is crucial. Optimize your website for search engines, create compelling and informative content, and engage with your audience through social media to establish your expertise and credibility.
• Establish strategic partnerships: Identify complementary businesses or professionals who can refer clients to you or collaborate on projects. Establishing strategic partnerships can greatly expand your reach and credibility within the industry.
• Implement a sales process: Develop a systematic approach to convert leads into paying clients. This might involve conducting sales meetings, providing tailored proposals, and negotiating contracts. Regularly analyze and refine your sales process to improve conversion rates and maximize revenue.
• Focus on building long-term relationships rather than just making quick sales. Satisfied clients can become valuable sources of referrals and repeat business.
• Stay up-to-date with industry trends and changes to ensure your marketing and sales strategies remain relevant and effective.
• Monitor and track your marketing efforts to measure their effectiveness. Use analytics tools to gather data and insights that can inform future marketing decisions.
• Continuously evaluate and adjust your marketing and sales strategies based on feedback, market dynamics, and the evolving needs of your target market.

A well-executed marketing and sales strategy can greatly contribute to the growth and success of your management consulting firm. By understanding your target market, implementing effective marketing tactics, and establishing a streamlined sales process, you can attract and retain clients, ultimately securing the sustainability of your business.

Develop Financial Projections

Developing financial projections is a crucial step in writing a business plan for a management consulting firm. These projections will help you estimate the financial viability of your business and provide potential investors or lenders with a clear understanding of your expected financial performance. Here are some key considerations when developing your financial projections:

• Evaluate your revenue streams: Identify the different sources of revenue for your consulting firm. This could include fees from client projects, retainer fees, or any additional services you plan to offer. It's important to consider the potential revenue you can generate from each stream.
• Estimate your expenses: List all the expenses your consulting firm will incur, such as employee salaries and benefits, office rent, marketing costs, technology expenses, and any other overhead costs. It's crucial to be thorough and realistic when estimating expenses.
• Calculate your profitability: Use the projected revenue and expense figures to calculate your gross profit margin, net profit margin, and operating profit margin. These figures will give you a clear picture of your expected profitability and will help you make informed decisions about your business strategy.
• Consider growth rates: Take into account the potential growth rates of your business. Are you planning to expand your consulting services to new markets or industries? Consider how these growth opportunities might impact your revenue and expenses.
• Assess financial risks: Identify and assess the potential financial risks that your consulting firm might face. This could include factors such as market fluctuations, client retention rates, or unexpected expenses. It's essential to anticipate and plan for these risks to ensure the financial stability of your business.

Tips for developing financial projections:

• Seek professional help: If you're not confident in your financial expertise, consider hiring a professional accountant or financial consultant to assist you with developing accurate and realistic financial projections.
• Utilize financial tools: There are various software programs and templates available that can help you create comprehensive financial projections. These tools can save you time and ensure your projections are accurate.
• Review and revise regularly: Your financial projections should not be static. Continuously review and update them as you gain more information and experience in your consulting business. Regularly revising your projections will help you adapt to changing market conditions and make informed business decisions.

By developing thorough and realistic financial projections, you will demonstrate to potential investors or lenders that you have a solid understanding of your consulting firm's financial outlook. It will also provide you with a roadmap for managing your finances effectively and achieving your business goals.

In conclusion, creating a business plan is crucial for management consulting firms in order to succeed in the project-based model. By following these nine steps, you can effectively identify your target market, research the industry, define your unique value proposition, identify competitors, determine your business structure, develop a pricing strategy, identify key resources and partners, create a marketing and sales strategy, and develop financial projections.

With a well-crafted business plan, you can navigate the competitive landscape and attract clients by showcasing your expertise and delivering tangible results. Remember to continuously seek out new projects and clients to sustain your business and stay ahead in the management consulting industry.

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How To Write A Consulting Business Plan

Creating a business plan is essential for any business, but it can be especially helpful for consultants who want to establish their credibility and get ahead in the industry.

A well-crafted business plan not only outlines your vision for the company but also provides a step-by-step process of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article will provide an overview of the key elements that every consultant should include in their business plan.

Download the Ultimate Consulting Business Plan Template

What is a Consulting Business Plan?

A consulting business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons why you will be profitable, how you can succeed in your market, what will set your product or service apart from others, and includes information about your team members, if applicable, to convince investors and lenders (if needed) that you have what it takes to make your venture successful.

Why Write a Consulting Business Plan?

A consulting business plan is required for banks and loan companies, and it is often requested by investors. This document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Consulting Business Plan

The following are the key components of a successful consulting business plan:

Executive Summary

The executive summary of a consulting business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your consulting firm
• Provide a short summary of the key points of each section of your business plan.
• Organize your thoughts in a logical sequence that is easy for the reader to follow.
• Include information about your company’s management team, industry analysis, competitive analysis, and financial forecast.

Company Description

This section should include a brief history of your company. Include a short description of how it all started, and provide a timeline of milestones the company has achieved.

If you are just starting your consulting business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your consulting firm, mention this.

Industry Analysis

The industry or market analysis is an important component of a consulting business plan. Conduct thorough market research to determine industry trends, identify your potential customers, and the potential size of this market. 

Questions to answer include:

• What part of the consulting industry are you targeting?
• Who are your competitors?
• How big is the market?
• What trends are happening in the industry right now?

You should also include information about your research methodology and sources of information, including company reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or consulting services with the right marketing.

Competitive Analysis

The competitive analysis helps you  determine how your product or service will be different from competitors, and what you are using as your unique selling proposition (USP) that will set you apart in this industry.

Complete a SWOT Analysis. Your SWOT analysis should include:

• Strengths : what are your strengths?
• Weaknesses : what are your weaknesses?
• Opportunities : how can you take advantage of competitive weaknesses and strike back at them with your strengths and possible new product or service offerings?
• Threats : what are the potential threats to your company? How can you prepare for them? What can you do to mitigate potential risks?

You will then use this information to develop your own competitive strategy. Determine your competitive advantage and how you will differentiate your business from these competitors.

Marketing Plan

Your consulting marketing plan is where you determine how you are going to reach your target customer(s). Your marketing strategy should be clearly laid out, including the following 4 Ps.

• Product/Service : Make sure your service offering is clearly defined and differentiated from your competitors, including the benefits of using your service.
• Price : How do you determine the price for your service? You should also include a price strategy that takes into account what customers will be willing to pay and how much the competition within your market charges.
• Place : Where will your customers find you? What channels of distribution will you use to reach them?
• Promotion : How will you reach your target market? You can use social media or write a blog, create an email marketing campaign, post flyers, pay for advertising, launch a direct mail campaign, etc.

You should also include information about your paid advertising budget, including an estimate of expenses and sales projections.

Operations Plan

The operations plan should include the following information:

• How will you deliver your service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Management Team

Include a list of team members including names and titles, as well as their expertise and experience relevant to your specific consulting industry. Include brief biography sketches for each team member.

Financial Plan

Now include a complete and detailed financial plan. This is where you will need to break down your expenses and revenue projections for the first 5 years of operation. This includes the following financial statements:

Income Statement

Your income statement should include:

• Revenue : how will you generate revenue?
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the service offering.
• Net Income (or loss) : once expenses and revenue are totaled and deducted from each other, what is the net income or loss? 

Sample Income Statement for a Startup Consulting Firm

Balance Sheet

Include a balance sheet that shows what you have in terms of assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Consulting Firm

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Income : all of the revenue coming in from clients.
• Expenses : all of your monthly bills and expenses. Include operating, marketing and capital expenditures.
• Net Cash Flow : the difference between income and expenses for each month after they are totaled and deducted from each other. This number is the net cash flow for each month.

Using your total income and expenses, you can project an annual cash flow statement. Below is a sample of a projected cash flow statement for a startup consulting business.

Sample Cash Flow Statement for a Startup Consulting Firm

You will also want to include an appendix section which may include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• A list of your hard assets and equipment with purchase dates, prices paid and any other relevant information
• A list of your soft assets with purchase dates, prices paid and any other relevant information
• Biographies of the key employees listed in the executive summary section above.
• References to people you have done business with who are willing to confirm their positive business holdings with your company.

Writing a good business plan gives you the advantage of being fully prepared to launch and grow your consulting company. It not only outlines your business vision but also provides a step by step process of how you are going to accomplish it. Sometimes it may be difficult to get started, but once you get the hang of it, writing a business plan becomes easier and will give you a sense of direction and clarity about your consulting company.  

Finish Your Consulting Business Plan in 1 Day!

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With our Ultimate Consulting Business Plan Template you can finish your plan in just 8 hours or less!

Consulting Business Plan: 5-Step Plan For A Successful Firm

If you want to start a consulting business , then you need to write your consulting business plan.

I’ve watched countless starry-eyed entrepreneurs “start” their business with a 50-100 page business plan.

They spend weeks — or even months — toiling away at their desk after their 9-5 detailing everything about their future business.

After they’ve written it, they beam with pride.

“This plan is the key to my success in consulting! With this plan, I can’t fail.”

Then, they take their plan out to the real world.

The real world isn’t as perfect and pretty when starting your business.

And that golden business plan? Well, it almost always doesn’t work the way they’d hoped.

All of the projections they made? Naw, not even close.

So they scurry back to their desk to revise the plan — and the cycle continues.

Here’s the truth about consulting business plans…

You don’t need a long, complex business plan.

If your business plan is more than 5 pages, every extra page you write is almost certainly wasting your time.

All you need is a 1-3 page document to cover the foundations of your business.

By the end of this post, you’ll write your 5-part entrepreneurial consulting business plan — and have everything you need to start a successful consulting business.

Let’s begin with the first part: your consulting business model.

1. Consulting Business Model

• “What kind of consulting business do you want to build?”

That’s the first question you want to answer for your consulting business plan.

Understand what type of business you want to build first before you start building it.

Six-Figure Blueprint

That way, you’re building a business to support your lifestyle and not the other way around.

At Consulting Success®, we believe that your business shouldn’t consume your life .

Your consulting business should enrich your life and create a fulfilling lifestyle for you and your family.

For your consulting business model, you have 4 options:

1. Solo Model : The classic independent consultant . Your business is just you (and maybe a few contractors). From delivering projects to marketing and sales, you are responsible for every part of the business.

(To see the pros and cons of each model, see our post on The 3 PROVEN Consulting Business Models .)

2. Firm Model : The typical large consulting firm. Your firm consists of consultants, associations, junior and senior people. Your role starts off as doing a bit of everything — but eventually, your role becomes hiring, training, and managing your team.

3. Productized Model : This model comes out of one of the above models. You identify a particular problem your clients have, and you build your business around solving that problem with a focus on efficiency. This model is all about systems, efficiency, and scale.

4. Hybrid Model : The hybrid model is a mix of the models above. For example, you might offer a productized consulting offer — but also do some solo custom consulting. Once you’ve mastered one of these models, the hybrid model helps you add new products and services to create more revenue.

Pick one of the models above. If you’re unsure about which one to use, start with the solo model. You can always change it in the future. Chances are, your business will evolve in the future anyways.

With your consulting business model selected, let’s move to the next part of your consulting business plan — clarity around your ideal client.

For every hour you spend on planning, you should spend 4 hours on putting your plan into action.

2. Ideal Client Clarity

• “Who is the ideal client my consulting business will serve?”

That’s the second question you’ll answer with your consulting business plan.

This is all about how you’re going to specialize .

As an entrepreneurial consultant, specialization is crucial.

You can’t offer everything to anybody.

You’ll have to begin by choosing a specific type of client to serve — your niche.

A niche is a certain subset of people whom you might potentially serve — SaaS companies, manufacturing, pharmaceuticals, etc.

To find your ideal client, you’ll have to test out different niches.

This is why we teach the Niche Scoring Method in our Clarity Coaching Program .

Using this scorecard, you score each potential niche from 1 to 5 based on the following factors:

• EXPERIENCE . How would you rate your experience with this niche?
• EXPERTISE . How would you rate your status as an expert within this niche?
• RESULTS . How would you rate your confidence that you can deliver results for this niche?
• POTENTIAL . How would you rate this niche’s growth and how willing they are to hire consultants?
• INTEREST . How would you rate your interest in this niche?
• ACCESS . How would you rate your ability to speak with ideal clients in this niche?

In the Clarity Coaching Program for Consultants , we also teach you about the different layers of specialization, how to find and validate your ideal client’s potential, how to do outreach to potential clients, and more.

By going through these exercises, you’ll figure out which niche is best for you to start with.

Picking a niche and defining your ideal client is the foundation on which you’ll build your business — and get clients.

You shouldn’t move on with your consulting business plan until you’ve defined your ideal client.

Once you’ve done that, you can move on to the next part: Magnetic Messaging.

3. Magnetic Messaging

• “What message will get my ideal client’s attention?”

That’s the third question you’ll answer on your consulting business plan.

You’ve picked your business model.

You’ve defined your ideal client.

Now, you’ll write a message designed to get your ideal client’s attention.

We’ve created a formula to make writing this message as simple as possible: Magnetic Messaging.

Here’s the formula:

I help [WHO] to [solve WHAT problem] so they can [see WHAT results]. My [WHY choose me]…

Let’s break each part of the formula down.

• WHO : Who you serve.
• WHAT (Problem): What problem you solve for them.
• WHAT (Result): What result you create for them.
• WHY : Why they should choose you.

Why does this message grab your ideal client’s attention?

• It speaks to who they are.
• It mentions what problem they have.
• It showcases what result they can get.
• It differentiates you from others who might provide a similar service.

When your message contains these 4 elements, it will draw interest from your ideal clients. They’ll want to learn more.

They’ll browse your marketing materials, read your articles, sign up for your email list, and reach out to you for conversations.

Effective messaging is the foundation of your marketing: what you communicate to the marketplace to get your ideal client’s attention.

You won’t write the perfect message on your first try.

But you do need to write a first draft — and actually put it to work in the marketplace.

Once you’ve written down your first magnetic message, it’s time to start planning your strategic offer.

4. Strategic Offers

• “What can I offer my ideal client — and at what price point?”

That’s the 4th question you’ll answer on your consulting business plan.

With clarity around your ideal client and a message that grabs their attention…

…you must create an offer — a service — that solves their problems and gets them the result that they want.

The classic custom consulting service is the “full engagement.”

After you engage in a meaningful sales conversation with your prospective client, you’ll send them a consulting proposal .

In your proposal, instead of including one option, you’ll include three:

Option 1 – $

• Basic offer
• Minimum effort required
• Provides value
• Lowest investment

Option 2 – $$

• Help them reach results quicker than option 1
• Provides more value than option 1 (ideally, without having to spend more time)
• Higher investment

Option 3 – $$$

• If money isn’t an issue
• Best results
• Shortest time to result
• Highest investment

Map out the different options you’ll offer your prospects.

Take a look at the marketing consulting example below for an idea of how the 3 different options might look:

However, we recommend you start with a discovery offer .

A discovery offer is a smaller service (priced at $1.5K to $15K). You design it to get your client a quick, low-risk win.

Your discovery offer helps get your “foot in the door” with the client. Once you get them that quick, low-risk win, they’ll trust your expertise. This will open the door for larger projects with the same client.

Discovery offers are easier to sell, create, and deliver.

Here’s our discovery offer checklist:

• Align with what the buyer wants
• Is a logical first step
• Leads to the next steps
• Ranges between $1.5K to $15K
• Provides tangible benefits (growth, clarity, etc)

Of course, you’ll also have to set your consulting fees .

You can use the hourly method, the fixed-rate method, the value-based method , or the retainer method.

Pricing is an incredibly complex and deep topic. But you’ll have to pick a price to start with and adjust it based on the feedback you get.

Never sell yourself short. Remember: pricing is marketing. If you can deliver your clients results, then charge what you’d feel good about.

Once you’ve mapped out your 3 engagement options and a discovery offer, you’re ready to take your offers to the marketplace — and start winning consulting business.

5. Marketing Engine/Sales Pipeline

• “How am I going to create conversations with my ideal client?”

This is the final question you’ll answer on your consulting business plan.

And it’s where you start to see real results: winning clients, delivering projects, and earning revenue.

However, according to our How To Become A Consultant Study , marketing and sales are where consultants struggle the most.

Your Marketing Engine is what you’re doing every day to get in front of your ideal clients.

Your Sales Pipeline organizes all of the leads who come into contact with you.

Let’s start with your pipeline.

Your pipeline is organized into 6 columns:

• LEAD . You’ve identified the prospective client and have begun reaching out to them to set-up a conversation.
• CONVERSATION . You’ve had a sales conversation with the prospective client.
• PROPOSAL . You’ve sent a proposal to the prospective client.
• WIN . The prospective client has accepted your proposal and you won the business.
• LOSS . The prospective client has declined your proposal and you lost the business.
• NURTURE . Most people you reach out to won’t be ready to buy or make a decision right away. In fact, even people who say ‘No’ to a proposal now, may buy from you later as long as you stay top of mind through your nurture process.

All of your prospective clients fit into one of these 6 categories.

Using a CRM to create and organize this pipeline will help you organize your marketing and sales efforts.

Marketing is what fills up your “lead” column.

Without marketing, you won’t have any leads. And without leads, you won’t have the chance to win new business.

We organize marketing for consultants in 3 different categories:

• Outreach: Reaching out to your ideal clients to initiate conversations.
• Follow-Ups: Following up with your ideal clients to initiative conversations.
• Authority Building : Creating content for your ideal clients that demonstrates your expertise and adds value — and helps create conversations.

A basic Marketing Engine will have you doing a mix of these different methods every day.

Every day, you want to be reaching out to new clients, following up with your leads, and creating content that demonstrates your expertise and adds value.

The type of marketing you focus on also depends on the stage of your business .

If you’re a newer consultant, you’ll rely more on outreach. You don’t have as much of an audience for authority content to work yet.

But if you’re a later-stage consultant, you’ll rely more on content. Your content and consulting website has a farther reach, and can generate leads at scale.

For your business plan, focus on setting up a pipeline that is easy to track, and creating the right marketing habits to fill up your leads column.

At this stage, your plan is done.

It’s time to start taking action.

Imperfect Action: Write Your Entrepreneurial Consultant Business Plan

By answering these 5 questions…

…you’ll write a consulting business plan that enables you to take action.

We’ve included dozens of articles, case studies , and guides on how to answer these 5 questions.

However, in consulting, execution is more important than your plan.

So, use our resources to help answer these 5 questions — and go build your consulting business.

Ready to Take Your Consulting Business to the Next Level?

Apply to join our Clarity Coaching Program , the place where dedicated consultants go to get a personalized plan, strategy, coaching and support to grow a successful consulting business.

If you’re committed and serious about growing your consulting business, then this customized coaching program is for you.

We’ll work hands on with you to develop a strategic plan and then dive deep and work through your ideal client clarity, strategic messaging, consulting offers, fees, and pricing, business model optimization, and help you to set up your marketing engine and lead generation system to consistently attract ideal clients.

Schedule a FREE growth session today to apply for our limited-capacity Clarity Coaching Program by clicking here .

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How to Write a Management Consulting Business Plan? Guide & Template

Starting a management consulting business is an exciting venture that promises challenges and rewards. To pave the way for success, having a well-thought-out business plan is essential. In this article, we’ll delve into the intricacies of creating a management consulting business plan, exploring its significance, potential funding sources, and the step-by-step process of crafting a compelling document.

What is a Management Consulting Business Plan?

A management consulting business plan is a roadmap that outlines the goals, strategies, and operational details of your consulting venture. It serves as a comprehensive document that guides your business through its infancy and growth stages. The plan provides clarity on your business model, target market, competitive landscape, and financial projections.

Why do you need a business plan for Management Consulting?

1. Strategic Direction

A well-crafted business plan acts as a compass, guiding your management consulting business in the right direction. It helps define your business’s purpose, mission, and vision, providing a clear roadmap for achieving your objectives.

2. Investor Confidence

Investors and lenders often require a business plan before committing funds. A thorough plan instills confidence by showcasing your understanding of the industry, market opportunities, and potential challenges. It also outlines how you intend to mitigate risks and achieve sustainable growth.

3. Operational Guidance

Your business plan serves as a practical guide for day-to-day operations. It details your service offerings, target clients, pricing strategies, and marketing approaches. This ensures that everyone in your team is aligned with the business’s overall objectives.

Source of Funding for Management Consulting Business

Securing funding is a crucial step in launching and expanding your management consulting business. Here are some potential sources of funding:

Personal Savings Use your own savings to bootstrap your business. This demonstrates your commitment and dedication to potential investors. Bank Loans Approach traditional banks for business loans, providing a detailed business plan to support your application. Angel Investors Seek individual investors interested in supporting startups, particularly those in the consulting sector. Venture Capital Pursue venture capital if your business has high growth potential and scalability. Be prepared to give up equity in exchange for funding. Crowdfunding Utilize online crowdfunding platforms to raise smaller amounts from a large number of people. Government Grants Explore grants and subsidies offered by government agencies to support small businesses.

Understanding the pros and cons of each funding source will help you make informed decisions based on your business’s unique needs and goals.

How to Write a Business Plan for Management Consulting Business

1. Executive Summary

The executive summary provides a concise overview of your management consulting business plan. It should encapsulate your business’s mission, vision, key services, target market, and financial projections.

2. Company Description

Offer a detailed description of your management consulting business. Highlight your unique selling propositions, core values, and the specific services you offer. Define your target market and explain how your services meet their needs.

3. Market Analysis

Conduct a thorough market analysis to identify opportunities and challenges in the consulting industry. Analyze your competitors, target audience, and market trends. Provide insights into the demand for management consulting services and how your business fits into the current landscape.

4. Organization and Management

Outline your business’s organizational structure, including key team members and their roles. Emphasize the expertise and experience that each team member brings to the table. This section helps instill confidence in potential investors and clients.

5. Services and Pricing

Clearly articulate the services your management consulting business offers. Define your pricing strategy, detailing how your rates are competitive within the industry while ensuring profitability. Be transparent about any additional fees or charges.

6. Marketing and Sales Strategy

Develop a robust marketing and sales strategy to attract clients. Identify your target audience and outline the channels you’ll use to reach them. Detail your sales approach, from lead generation to conversion, and highlight any partnerships or collaborations that enhance your market reach.

7. Financial Projections

Present detailed financial projections, including income statements, balance sheets, and cash flow forecasts. Use realistic assumptions and demonstrate a clear understanding of your business’s financial needs. This section is crucial for securing funding and projecting long-term sustainability.

8. Risk Analysis

Acknowledge potential risks and challenges your management consulting business may face. Outline mitigation strategies and contingency plans to demonstrate preparedness. Addressing risks head-on shows investors and stakeholders that you are proactive and capable of navigating uncertainties.

9. Appendices

Include any supporting documents, such as resumes of key team members, market research data, or relevant legal documents. Appendices provide additional context and credibility to your business plan.

Advantages of starting a Management Consulting Business

Starting a management consulting business offers numerous advantages for aspiring entrepreneurs:

1. Diverse Clientele

Management consultants have the opportunity to work with clients across various industries, gaining exposure to diverse challenges and solutions. This diversity not only keeps the work interesting but also enhances the consultant’s skill set.

2. High Earning Potential

Successful management consultants often command high fees for their expertise. As businesses seek strategies for growth and efficiency, they are willing to invest in consultants who can deliver tangible results.

3. Intellectual Satisfaction

Management consulting provides a platform for solving complex business problems. Consultants derive intellectual satisfaction from analyzing issues, devising strategies, and witnessing the positive impact of their recommendations on client organizations.

4. Continuous Learning

The dynamic nature of the business world ensures that management consultants are constantly learning. Staying abreast of industry trends, market dynamics, and emerging technologies is inherent in the consulting profession.

5. Entrepreneurial Opportunities

Management consulting often opens doors to entrepreneurial ventures. Consultants who identify gaps in the market or innovative solutions may choose to launch their products or services, leveraging their industry insights and expertise.

Crafting a comprehensive business plan is an integral part of launching and growing a successful management consulting business. It not only serves as a roadmap for your venture but also instills confidence in potential investors, clients, and your team. By understanding the significance of each section in the business plan and leveraging various funding sources, you can position your management consulting business for long-term success.

Written by Ivan Smith

Hello, I'm Ivan Smith, a graduate with a Bachelor of Business Administration in Marketing. Currently, I'm actively engaged in practicing business plan writing.

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Consulting Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 10,000 entrepreneurs and consultants 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 the business planning process. 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 Ultimate Consulting Business Plan Template here >

What is a Consulting 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 Business Plan for a Consulting Firm

If you’re looking to start a consulting business or grow your existing consulting firm you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your consulting business in order to improve your chances of success. Your consulting business plan is a living document that should be updated annually as your company grows and changes.

Sources 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.

Finish Your Business Plan Today!

How to write an effective consulting business plan.

Your business plan should include 10 key elements as follows:

Executive Summary

• Company Overview

Industry Analysis

Customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

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 strategy. 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:

• IT Consulting : this type of consulting business designs custom software, plans for IT system infrastructure, and/or manages computer systems and data processing facilities.
• Management Consulting : this type of consulting business provides advice to businesses, nonprofits, and agencies in various areas such as corporate strategy, marketing, organizational design, etc.
• Environmental Consulting : this type of consulting business provides advice on environmental issues such as pollution, hazardous materials, etc.
• Human Resources Consulting : this type of consulting business provides advice for structuring HR and personnel policies, employee benefits, compensation, recruitment, and retention
• Other Business Consulting : there are many industries in which people need and will pay for consulting services

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:

• When and why did you start the business?
• What is your business model? Explain how you plan to generate revenue.
• What milestones have you achieved to date? Milestones could include sales objectives, sales goals you’ve reached, new office openings, new products, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

In your industry analysis, you need to provide an overview of the consulting business.

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 consultant business plan:

• How big is the consulting business (in dollars)?
• How big is your niche (e.g., management consulting) within the consulting business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your consulting firm? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

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 ideal customer segments for a consulting firm: 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 delivery 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.

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Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors  are other consultants and consulting firms.

Indirect competitors  are other options that potential clients 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:

• What types of clients do they serve?
• What consulting services do they offer?
• What are their pricing strategies (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

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

• Will you provide superior services?
• Will you provide services that your competitors don’t offer?
• Will you make it easier or faster for more clients to engage your services?
• Will you offer better pricing?

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

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a consultant business plan, your marketing plan should include the following:

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 attract clients to your location(s). The following are some promotional methods you might consider as a consultant:

• Pay-per-click keyword advertising
• Providing seminars or keynote presentations
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites
• Social media advertising
• Local radio advertising
• Email marketing
• Content marketing
• Networking events

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 company 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 business location.

To demonstrate your ability to be a successful consultant, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in the consulting business. If so, highlight this industry 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.

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

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:

• Office space build-out including design fees, construction, etc.
• Cost of maintaining an infrastructure (i.e. data warehouse, database subscriptions, etc.)
• Payroll or salaries paid to staff
• Office equipment and other supplies
• Business insurance
• Taxes and permits
• Legal expenses
• Other expenses

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.

Free Consultant Business Plan Template

You can download our consulting business plan PDF template here.   

Putting together a business plan for your consulting business will improve your company’s chances of success. The process of developing your plan will help you better understand the consulting market, your competition, and your customers. You will also gain a marketing plan to better attract and serve customers, an operations plan to focus your efforts, and financial projections that give you goals to strive for and keep your company focused.

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

Additional Resources for a Successful Consulting Business

• How to Start a Consulting Business
• 9 Effective Marketing Strategies for Consultants
• Pricing Your Services as a Consultant

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

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who 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.

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How to Start a Consulting Business: The Definitive Guide for 2024

Will your business idea succeed? Take our quiz - completely confidential and free!

You’ve become an expert in your field after years of dedication, countless hours of work, and relentless pursuit of excellence.

So, what’s next?

Imagine leveraging your expertise and time into a rewarding venture – starting a consulting business .

What is consulting?

Consulting is the art and science of offering specialized advice, sharing opinions, and crafting strategies to help clients excel. Consultants aren't just advice-givers; they wear numerous hats. They diagnose problems, gather data, offer constructive feedback, build strategies, and participate in implementation.

According to Statista, the information technology consulting industry in the U.S. grew by over 30% between 2011 and 2019, amounting to more than $600 billion in 2022. Similarly, the management consulting sector is projected to hit $343.4 billion by 2025 from an estimated $330 billion in 2023.

And these are just two pieces of the enormous consulting pie.

Leveraging my extensive experience of over a decade as an attorney, alongside a 15-year journey mentoring numerous entrepreneurs, I’ve had the privilege of collaborating with hundreds of consultants and consulting firms. I’ve also hired many consultants for my businesses.

Moreover, crowdspring has served as a vital springboard for tens of thousands of ambitious consultants and aspiring small business owners for the past fifteen years. Our team has amassed a rich repository of insights, practical tips, and industry best practices essential for kick-starting and successfully sustaining a consulting venture.

This definitive guide shares this collective wisdom, hard-earned experiences, and insightful learnings with you.

Consultant vs. contractor vs. freelancer

As you prepare to launch your consulting business, it’s essential to understand your place in the professional landscape. The terms ‘consultant,’ ‘contractor,’ and ‘freelancer’ are often used loosely and interchangeably, but critical differences exist.

While consultants, contractors, and freelancers offer their services to businesses, their roles diverge beyond this similarity.

Contractors, including freelancers, are self-employed professionals contracted by companies to provide specific services. On the other hand, consultants are specialists who offer expert advice and assessments. They can either be independent or part of a consulting firm.

However, the lines can blur.

You could be asked to deliver a specific service as a consultant, making your role somewhat akin to a contractor. For instance, imagine you’re hired to evaluate a customer service team’s performance. Post-assessment, you suggest a new strategy and training plan. If you’re asked to develop and present this strategy, your role will expand to include elements of a contractor’s job.

Consulting is a vast field with opportunities across virtually all sectors. Let’s explore the diverse consulting specializations you can consider.

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How to Start a Consulting Business

• Choose your niche and define your services
• Write a business plan
• Choose your legal business structure
• Set up business accounting and bookkeeping
• Assess your finances and secure startup capital
• Develop your brand identity
• Create an effective fee structure
• Launch your website and market your business
• Grow your consulting business

Additional resources for consultants

• Frequently Asked Questions (FAQs)

1. Choose your niche and define your services

When someone utters the word “consulting,” what springs to mind?

Is it a seasoned expert offering priceless advice or a niche firm with razor-sharp strategies to tackle business challenges?

Consulting is a thriving industry revolving around knowledge – the commodity businesses are willing to pay for.

Business leaders often navigate complex problems; sometimes, the much-needed solution is a fresh perspective. That’s precisely what consultants bring to the table. Their unbiased viewpoint helps reduce the noise and find the best approach to tackle business problems.

In a nutshell, consultants are problem solvers. They work tirelessly to make their clients more successful, a commitment that makes the consulting business rewarding and lucrative.

Here are some of the reasons that businesses hire consultants:

• Businesses hire consultants because of their expertise. Suppose a company is raising funding or adopting a new software system. In that case, it pays for them to hire a specialist who has raised millions or has already implemented the same software system.
• Businesses hire consultants to supplement their staff. Companies often engage consultants for their specialized skills and flexibility. This approach eliminates the costs and commitments of full-time hires, particularly for temporary projects.
• Businesses hire consultants to identify problems. It’s not uncommon for employees to struggle to resolve an issue inside an organization. Having seen a similar situation across many organizations, an experienced consultant might have the necessary expertise to help.
• Businesses hire consultants to promote change. Often, companies get stuck trying to change their internal organization, so outside consultants are often used to facilitate the transition.
• Businesses hire consultants to teach. Training programs, retraining programs, technical software implementation, and other areas require specialized skills that only experienced consultants offer. And remember, age is simply a number. Even if you’re over 60 or have been living the good life for a while, there’s never a wrong time to kick off your consulting gig. You’ve got a lifetime of lessons under your belt, and believe it or not, people are always hunting for that kind of seasoned insight.
• Businesses hire consultants to make tough decisions. If a company needs to downsize, it will often bring in consultants to make the tough decisions to deflect blame for letting people go.
• Businesses hire consultants to influence important decision-makers at other companies. For example, if you’re trying to reach a deal with another company and find a consultant who knows that company well, the consultant may be the X factor in putting the deal together.
• Businesses hire consultants for ideation. Sometimes, a company hits a rough patch and has a hard time finding new ideas. Consultants can help bring new energy to the business and help ideate products and services.
• Businesses hire consultants to create new companies and products. Some specialized consultants help others create (or buy) new companies’ products and services.

When choosing your niche, you can start by assessing your skills and strengths and brainstorming the general consulting services you’d like to offer.

How to assess your skills and strengths for consulting:

• Start by identifying your transferable skills. What skills have you gained from your education, work experience, and personal life that can be applied to consulting? For example, if you have experience in sales, you may have transferable skills such as communication, persuasion, and negotiation.
• Reflect on your past experiences. Think about the projects and tasks that you have completed in the past. What skills and strengths did you need to be successful? For example, you may have demonstrated organization, time management, and problem-solving skills if you successfully managed a complex project.
• Survey your network. Ask your friends, family, and colleagues for feedback on your skills and strengths. What do they see as your assets? What areas do they think you could improve?
• Take a skills assessment test. There are several online and offline skills assessment tests available. These tests can help you identify your strengths and weaknesses in various areas, such as communication, problem-solving, and critical thinking.
• Complete a personal SWOT analysis. A SWOT analysis is a framework for identifying your strengths, weaknesses, opportunities, and threats. This can be a helpful exercise for assessing your skills and strengths as a potential consultant.
• Create a portfolio of your work. This could include samples of your writing, presentations, case studies, or other work products. A portfolio is a great way to showcase your skills and strengths to potential clients.
• Volunteer your services to a nonprofit organization. This is a great way to gain experience and test your skills in a real-world setting.
• Shadow a consultant. This is a great way to learn about a consultant’s day-to-day work and see if it is a good fit for you.
• Take a consulting course or certification program. This can help you to learn the essential skills and knowledge needed to be a successful consultant.
• Network with other consultants. Attend industry events and connect with other consultants on LinkedIn. This is a great way to learn from others and to get your foot in the door.

By following these suggestions, you can better understand your skills and strengths and develop a plan for becoming a successful consultant.

Just as you’d consider different business ideas when starting a business, you must nail down the specifics of your consulting business before you work with any clients.

This is vital for three reasons:

• You must articulate your consulting service to potential clients to convince them that your services are valuable.
• You’ll need to charge fees that let you run a sustainable business.
• Specificity helps to set realistic expectations for your clients and potential clients.

This last point benefits both you and your clients. Your clients can make comfortable, informed decisions, and you can avoid being taken advantage of.

While you can’t prevent “scope creep” entirely, being clear about what a client is paying for upfront (and getting it in writing) will help set realistic, workable boundaries both parties can agree to. And, importantly, this will also clearly define the value proposition for your consulting business.

If you’re struggling to identify what your niche or specialty might be, consider these techniques for narrowing it down:

• Identify any underserved specialties in your field.
• Consider what specialties will continue to be underserved by a suitable consultant over the long term.
• Determine which areas in your field clients and potential clients struggle with the most.
• Ask yourself if your unique background and niche expertise provide you with rare knowledge not easily found in the job market.
• You’ve probably informally helped friends solve their business problems and pain points. What areas have you focused on when working with your friends?
• Is your consulting business limited to helping clients in the United States, or will you provide services to clients worldwide?

Here’s a detailed look at the most popular consulting niches. For each niche, we’ll outline the essential skills required, provide insights into the typical clientele, and discuss the frequent challenges small businesses face.

Types of consulting:

• Management consulting
• Strategy consulting
• I.T. consulting
• Operations consulting
• Business consulting
• Financial strategy consulting
• Sales consulting
• Human resources consulting
• Marketing consulting
• Career consulting
• Financial consulting
• Environmental consulting
• Real estate consulting
• Risk management consulting
• Education consulting
• Legal consulting
• Digital transformation consulting
• Sustainability consulting
• E-commerce consulting
• Healthcare consulting
• Diversity, Equity, and Inclusion consulting (DEI)
• Public relations consulting
• Brand consulting
• Nonprofit consulting
• Food service consulting
• Retail consulting
• Franchise consulting
• Agriculture consulting
• Hospitality consulting
• Logistics consulting
• Payroll management consulting

1. Management consulting

Management consultants play a critical role in helping businesses improve their overall performance. They meticulously assess existing organizational issues, devise strategic improvement plans and aid in executing those strategies. Their solutions typically span various business functions, including operations, H.R., finance, and IT. They also collaborate with international contractors to ensure a global perspective is incorporated into their recommendations and to navigate the complexities of international contracting.

Skills needed: Problem-solving, business strategy, change management.

Typical clients: Large corporations like McKinsey and Bain & Company, where they may work with C-suite executives to streamline business processes.

Common SMB Problems: A local restaurant chain struggling to manage operations across multiple locations; an online retailer failing to optimize its supply chain efficiency.

2. Strategy consulting

Strategy consultants are the architects of high-level, strategic business decisions. They help companies devise growth strategies, enter new markets, and make informed business choices. They analyze a company’s strengths and weaknesses , assess market conditions, and help formulate a winning strategy.

Skills needed: Strategic thinking, industry-specific expertise, decision-making.

Typical clients: Large-scale organizations such as Coca-Cola and IBM, where strategic decisions have far-reaching consequences.

Common SMB problems: A brick-and-mortar bookstore considering expansion into the e-commerce space; an artisanal coffee shop struggling to differentiate itself in a competitive market.

3. I.T. consulting

I.T. consultants are technical wizards that help businesses implement and manage new technologies. They tackle system integration, software development, enterprise architecture, cybersecurity, etc. Their work is essential in today’s digital age, where technology plays a pivotal role in business success.

Skills needed: Technical knowledge, problem-solving, and project management.

Typical clients: Tech companies, manufacturing firms, and educational institutions.

Common SMB problems: A local bookstore trying to set up an online sales platform; a small travel agency experiencing difficulties with their booking system.

4. Operations consulting

Operations consultants are the mechanics of business processes. They help organizations streamline operations by enhancing supply chain management, procurement, manufacturing, and service delivery. They identify bottlenecks, propose improvements, and may even assist in implementing these changes.

Skills needed: Project management, process improvement, analytical thinking.

Typical clients: Large logistical companies like Amazon and FedEx, where efficient operations directly influence the bottom line.

Common SMB problems: A local craft brewery struggling with inventory management an online fashion boutique experiencing difficulties with order fulfillment.

5. Business consulting

Business consultants wear many hats, depending on their clients’ needs. They could advise on financial matters one day and resolve operational bottlenecks the next. Their ultimate goal is to help businesses run more efficiently and profitably.

Skills needed: Business understanding, problem-solving, and communication skills.

Typical clients: Small to medium-sized businesses, entrepreneurs, and startups.

Common SMB problems: An independent fashion retailer struggling with business growth; an online fitness trainer unsure how to scale their business.

6. Financial strategy consulting

Financial strategy consultants guide businesses in making sound financial decisions, focusing on corporate finance, risk management, financial restructuring, and real estate. Their expert financial advice helps companies maximize returns, manage financial risks, and comply with legal requirements.

Skills needed: Financial acumen, risk management, understanding of laws and regulations.

Typical clients: Multinational corporations, financial institutions, and property developers .

Common SMB problems: A growing neighborhood bakery unsure of how to manage its financial growth; an online health supplement retailer struggling with pricing strategy.

7. Sales consulting

Sales consultants are sales performance enhancers. They develop effective sales strategies , refine sales processes, and boost team morale, aiming to optimize sales team performance and, ultimately, increase revenue.

Skills needed: Sales expertise, communication skills, motivational abilities.

Typical clients: Companies with sales teams, ranging from technology firms to consumer goods manufacturers.

Common SMB problems: A small electronics store with stagnating sales figures; an online handcrafted jewelry shop failing to meet sales targets.

8. Human resources consulting

Human resources consultants are experts in managing a company’s most valuable asset—its employees. They guide H.R. processes, such as talent management, conflict resolution, training and development, benefits administration, and compliance with employment laws.

Skills needed: Understanding H.R. practices, interpersonal skills, and knowledge of employment laws.

Typical clients: Corporations of all sizes, startups, and nonprofit organizations.

Common SMB problems: A family-owned grocery store grappling with high employee turnover; a small digital marketing agency striving to develop a comprehensive employee benefits program.

9. Marketing consulting

Marketing consultants work magic with a company’s marketing strategy , enhancing brand visibility , customer engagement, and sales conversions . They specialize in diverse areas, including digital marketing, content creation, SEO , social media marketing, and more.

Skills needed:   Marketing expertise, creativity, analytical skills.

Typical clients: Any company needing marketing help, including tech startups, retail businesses, and service providers.

Common SMB problems:   A small café struggling to attract customers; an online clothing boutique experiencing low web traffic.

10. Career consulting

Career consultants serve as career architects, helping individuals set career goals and build successful careers. They assist with skill development, resume writing and enhancement , job applications, interview preparation, and market understanding.

Skills needed: Job market knowledge , interpersonal skills, H.R. expertise.

Typical clients: Job seekers, career changers, and businesses looking to support their employees’ career growth.

Common SMB problems: A small architectural firm looking to improve employee skillsets; an online tutoring company wanting to assist tutors with professional development.

11. Financial consulting

Financial consultants help individuals, families, and businesses manage their finances. They offer guidance on investments, budgeting, tax planning, insurance, and more. They help their clients make financially savvy decisions to achieve their monetary goals.

Skills needed: Financial knowledge, analytical skills, trustworthiness.

Typical clients: Individuals, families, entrepreneurs, and businesses of all sizes.

Common SMB problems: A family-owned bed and breakfast struggling with budgeting; an online art store owner uncertain about investment strategies.

12. Environmental consulting

Environmental consultants help businesses assess and minimize their environmental impact. They offer advice on sustainable practices, regulatory compliance, waste management, etc. Their work often intersects with the construction, energy, and real estate sectors.

Skills needed: Knowledge of environmental regulations, scientific expertise, and analytical skills.

Typical clients: Construction companies, energy producers, and manufacturing firms.

Common SMB problems: A local brewery looking to reduce water waste a small online furniture retailer aiming to source more sustainable materials.

13. Real estate consulting

Real estate consultants provide expert property buying, selling, and management advice. They analyze market trends, assess property values, and help clients make informed real estate investment decisions.

Skills needed: Deep understanding of the real estate market, analytical skills, and negotiation skills.

Typical clients: Individual investors, real estate developers, and commercial property firms.

Common SMB problems: A local coffee shop considering expansion needs advice on location selection, and an online business ready to establish a physical headquarters requires guidance on property acquisition.

14. Risk management consulting

Risk management consultants are an organization’s fortification experts. They identify potential threats to a business’s financial health, operational efficiency, or reputation and devise strategies to mitigate these risks.

Skills needed: Risk analysis, strategic planning, problem-solving skills.

Typical clients: Financial institutions, manufacturing companies, and businesses exposed to significant risk.

Common SMB problems: A small construction company grappling with safety compliance issues; an online travel agency struggling with data security risks.

15. Education consulting

Education consultants work with schools, educational institutions, or individuals to enhance learning experiences. They advise on curriculum development, educational policies, and strategies to improve student performance.

Skills needed: Knowledge of educational systems and policies, curriculum development, and interpersonal skills.

Typical clients: Schools, universities, and educational technology companies.

Common SMB problems: A local private school struggling to improve student outcomes; an online tutoring platform seeking advice on curriculum enhancement.

16. Legal consulting

Legal consultants provide expert advice on legal matters. They help with contract drafting, legal compliance, dispute resolution, and other legal complexities businesses may face.

Skills needed: Legal knowledge, analytical skills, attention to detail.

Typical clients: Businesses across industries require legal guidance without a full-time attorney.

Common SMB problems: A small brewery  is having difficulty understanding licensing laws, and an  e-commerce platform is  unsure about customer data usage compliance.

17. Digital transformation consulting

Digital transformation consultants help businesses adapt to the digital age. They guide companies in integrating digital technology in all operations, enhancing efficiency and competitiveness.

Skills needed: Proficiency in digital technologies, change management, and strategic planning.

Typical clients: Traditional businesses looking to digitize their operations and tech companies aiming to update their digital strategies.

Common SMB problems: A local bookstore wanting to create an online presence; an established online clothing retailer seeking to streamline order processing with advanced technologies.

18. Sustainability consulting

Sustainability consultants assist businesses in incorporating sustainable practices into their operations. They help clients reduce environmental impact, comply with sustainability regulations, and build a green brand image.

Skills needed: Understanding environmental science, corporate sustainability strategies, and regulatory compliance.

Typical clients: Manufacturing companies, energy firms, and businesses aiming for greener operations.

Common SMB problems: A local organic grocery store wants to reduce its carbon footprint, and an online eco-friendly clothing brand needs help with supply chain sustainability.

19. E-commerce consulting

E-commerce consultants guide online businesses toward success in the digital marketplace. They assist in website optimization , digital marketing, customer journey mapping , SEO consulting , and conversion rate improvement .

Skills needed: Digital marketing, SEO, UX design, data analysis.

Typical clients: Online retailers and businesses transitioning from brick-and-mortar to online.

Common SMB problems: A small local artisan wanting to sell their products online; a niche online beauty store struggling to increase site traffic and conversion rates.

20. Healthcare consulting

Healthcare consultants focus on optimizing healthcare organizations’ operations and outcomes. They scrutinize all aspects, from personnel and profits to processes, offering valuable insights to enhance efficiency and tackle complex challenges.

Skills needed: Deep understanding of healthcare systems , analytical skills, and problem-solving abilities.

Typical clients: Hospitals, clinics, healthcare tech companies, and pharmaceutical firms.

Common SMB problems: A local dentist office struggling with patient scheduling efficiency; an e-health startup looking to improve their telehealth service delivery.

21. Diversity, Equity, and Inclusion consulting (DEI)

DEI consultants promote diversity, equity, and inclusion within organizations. They bring an unbiased perspective to companies’ equity issues and help devise strategies that nurture an inclusive and respectful workplace culture.

Skills needed: Deep understanding of DEI issues, sensitivity to cultural differences, and practical communication skills.

Typical clients: Businesses across all sectors committed to improving diversity and inclusivity.

Common SMB problems: A local bakery with a culturally diverse staff experiencing communication issues; an online software development company aiming to build a more inclusive work culture.

22. Public relations consulting

P.R. consultants are crisis managers and image guardians for organizations. They strategize how to present the company in the best light, deal with potential crises, and facilitate effective communication with the public and media .

Skills needed: Excellent communication skills, crisis management expertise, and ability to think independently.

Typical clients: Enterprises, celebrities, political entities, or organizations needing to maintain a positive public image.

Common SMB problems:  A small town family restaurant facing negative press over a food safety issue; an online retail brand dealing with customer complaints going viral on social media .

23. Brand consulting

Brand consultants act as brand sculptors, carving out a company’s brand identity in the market. They conduct competitor analysis , initiate market research, and devise creative strategies to enhance brand perception and customer loyalty.

Skills needed: Creativity, market research skills, and understanding of consumer psychology .

Typical clients: Businesses looking to launch, rebrand , or strengthen their market position.

Common SMB problems: A local gym failing to differentiate its brand from competitors; an online pet supplies store struggling to connect with its target audience .

24. Nonprofit consulting

Nonprofit consultants assist charitable organizations in achieving their mission and improving their effectiveness. They help with fundraising strategies, volunteer management, marketing efforts, and organizational structure.

Skills needed: Understanding the nonprofit sector, fundraising strategies , leadership, and management skills.

Typical clients: Charitable organizations, educational institutions, and advocacy groups.

Common SMB problems: A small local animal shelter struggling with volunteer retention; an online nonprofit aiming to improve donor engagement and fundraising .

25. Food service consulting

Food service consultants advise restaurants, cafeterias, and other food establishments. They help with menu development, supply chain management, health and safety compliance, and operational efficiency.

Skills needed: Understanding the food industry, culinary expertise, and supply chain management.

Typical clients: Restaurants, hotels, catering businesses, and food delivery services.

Common SMB problems:  A small town café needing menu innovation to compete with larger chains; an online food delivery service struggling with logistical and supply chain issues.

26. Retail consulting

Retail consultants work with businesses to optimize their operations, sales strategies, inventory management, and customer service. They help brick-and-mortar stores transition to e-commerce and cope with the challenges of the digital era.

Skills needed: Understanding the retail industry, sales and marketing expertise, and knowledge of e-commerce trends.

Typical clients: Retail stores, e-commerce businesses, and department stores.

Common SMB problems: A local bookstore struggling to compete with online retailers; a clothing store facing inventory management issues.

27. Franchise consulting

Franchise consultants help businesses become franchisors or help potential franchisees select the right opportunity. They also help with legal matters, business plans, marketing strategies, and location selection.

Skills needed: Franchise business models, legal expertise, and business development skills.

Typical clients: Potential and existing franchisors and franchisees.

Common SMB problems: A small fast-food restaurant looking to franchise their business; an online tutoring service considering becoming a franchisee.

28. Agriculture consulting

An agriculture consultant assists farmers and agribusinesses in making informed decisions that improve their farm operations’ profitability and sustainability. They can provide expert advice and assessments on crop management, soil health, livestock care, sustainable farming practices , and modern farming technologies.

Skills needed: Deep knowledge of farming techniques, environmental regulations, and agricultural economics. Furthermore, an understanding of biotechnology and proficiency in data analysis can be beneficial.

Typical clients: Farm owners, agribusinesses, agricultural technology firms, agrarian nonprofits, and government agencies.

Common SMB problems: A small family-owned vineyard might struggle with soil health, which affects its grape yield. Alternatively, an organic vegetable farm could explore ways to enhance sustainable farming practices to meet increased demand without compromising its organic status. These situations call for an agriculture consultant’s expertise.

29. Hospitality consulting

Hospitality consultants assist businesses in the tourism and lodging industries. They help with business development, customer service strategies, facility management, and creating memorable guest experiences.

Skills needed: Understanding of the hospitality industry, customer service expertise, and facility management skills.

Typical clients: Hotels, resorts, travel agencies, and event planning businesses.

Common SMB problems: A boutique hotel struggling with online booking management; a local tour agency facing marketing challenges in attracting tourists.

30. Logistics consulting

Logistics consultants help businesses streamline their supply chain, distribution, and transportation processes. They assist in optimizing warehouse operations, reducing shipping costs, and improving delivery times.

Skills needed: Supply chain management, transportation logistics, analytical skills.

Typical clients: Manufacturing companies, e-commerce businesses, and logistics providers.

Common SMB problems: A local craft brewery having issues managing distribution logistics; an online clothing retailer struggling with international shipping costs and regulations.

31. Payroll management consulting

Payroll management consultants streamline and optimize a business’s payroll process, ensuring employees’ accurate and timely payments. They help create efficient payroll structures, integrate payroll systems, ensure regulatory compliance, and manage payroll taxes.

Skills needed: Extensive knowledge of payroll systems and payroll services , tax regulations, auditing skills, numerical proficiency, and a thorough understanding of local and international labor laws.

Typical clients: Any organization that manages a workforce, from small businesses to multinational corporations, across industries.

Common SMB problems: An e-commerce startup might struggle with managing payroll for its remote workers across different states or countries, creating issues with tax compliance and payment schedules. In another scenario, a local retail business may experience errors in calculating overtime, leading to discrepancies in employee pay.

Finally,  remember to consider the size of your target market. Not every niche will be lucrative. Once you understand each niche’s  total addressable market (TAM) , you can make more informed decisions .

2. Write a business plan

Starting a new business is quite an adventure, and like any good journey, it can be helpful to have a map. That’s where a business plan comes in.

It’s not a must-have, but it can help clarify your thoughts and dodge some rookie mistakes.

Believe it or not, studies show that folks who take the time to jot down a business plan when kick-starting a business are 2.5 times more likely to see their dreams turn into reality. Not only that but crafting a business plan also helps you sharpen skills that’ll be a tremendous asset down the line.

Don’t sweat over making every little detail perfect in your business plan.

You certainly don’t need to lose sleep over writing a 100-page document. There are tons of practical one-page business plan models out there that can guide you in writing a concise, one-page business plan.

Different consulting business models

The independent consultant model.

As an independent consultant, you are the captain of your ship. You work directly with clients, deliver projects single-handedly, and manage all aspects of your business operations.

This model is an excellent fit if you prefer maintaining flexibility and having hands-on involvement in every project. It requires a high level of expertise in your niche and solid business and time management skills.

The consultancy firm model

In the consultancy firm model, you set up a team of consultants, each contributing their unique expertise. You focus on leading the organization and contributing to client projects.

This model allows for scalability and an expanded service offering, making it a viable option if you’re targeting large businesses and complex projects. However, it also comes with increased team management responsibilities, including hiring, training, and retention.

The productized consulting model

Productized consulting takes a unique approach to consulting services.

Instead of delivering bespoke advice and solutions, you build a standardized “products” suite based on your expertise. These could range from online courses and digital tools to books and webinars. You sell these to clients at a fixed price, creating a scalable source of passive income.

This model allows you to leverage your knowledge and reach a wider audience, but it requires product development and marketing skills.

The hybrid consulting model

A hybrid model is a fusion of two or more models tailored to your preferences and business goals. For example, you could combine independent consulting with productized services, delivering personalized consulting while offering pre-packaged digital resources.

This model gives you the flexibility to design a business that aligns with your skill set, work style, and the needs of your target market.

The networked consulting model

In the networked consulting model, you collaborate with other independent consultants, forming a network of specialists. You refer work to each other, collaborate on projects, or even pitch together as a virtual firm for more significant contracts.

This model allows you to extend your service offering and reach without the overheads of running a firm. It requires strong networking skills and forming mutually beneficial professional relationships.

The subscription consulting model

In this model, instead of charging per project, you offer your consulting services for a regular subscription fee. Clients get a certain amount of your time or specific services each month.

This provides steady recurring revenue and allows you to form deeper client relationships. It suits consultants whose services involve ongoing work, like business coaching, digital marketing, or I.T. support.

Each of these models has advantages and challenges, so choosing a model that aligns with your goals, preferred working style, and the needs of your target clients is crucial.

Need some help getting started? Check out our no-nonsense guide to writing a business plan . It’s packed with insights and free downloadable business plan templates designed to help you take your business from a dream to a reality.

3. Choose your legal business structure

Embarking on your consulting business journey, you’ve got to make a few critical decisions – like the kind of business type you want your business to be.

It might seem a bit dry, but this stuff is essential, as it affects everything from tax filings and liability to local, state, or national rules you need to follow.

There are different legal business structures to choose from, and for those starting, it can feel like trying to order food in a foreign language.

Here’s the thing – don’t feel pressured into registering your business immediately. Sure, becoming a sole proprietor might be easy on the wallet and quick to set up, but it could leave you open to more risk and potentially create a tax headache.

Forming a Limited Liability Company (LLC) could be smarter for most consulting gigs.

Invest some time into researching the business structures that could suit you. Consider which will benefit your business now and align with your future professional and personal ambitions.

Let’s look at the four main types of business entities:

• Sole proprietorship. This is the simplest entity. As a sole proprietor, you’re the lone ranger responsible for your business’s profits and debts.
• Partnership . This is when two or more people team up, sharing liability and responsibility for a business.
• Limited Liability Company (LLC). This structure allows owners, partners, or shareholders to limit their personal liability while reaping a partnership’s tax and flexibility perks.
• Corporation . This is a separate legal entity from its owners. A corporation can own property, get sued, pay taxes, and enter into contracts.

Consider what will work best for your current needs and future ambitions.

Hire an expert to form your company and save time. Our trusted partners can help: Northwest ($39 + state fee) or Bizee ($199 + state fee) . We recommend Northwest. After evaluating the leading registration companies, Northwest stands out as our top choice due to its competitive pricing, exceptional customer support, and commitment to privacy. Pay just $39 + state fees and you'll get a free year of registered agent service, articles of organization, privacy, and client support from local experts.

And a heads up – in most states, if you’re planning to run your consulting firm under a different name than your legal business name, you need to register this with the secretary of state or county clerk.

For instance, if your registered company is an LLC named “Three Brothers, LLC,” but you’re selling services as “Three Tigers,” you might have a problem. That’s because your registered name and your trade name don’t match.

But don’t worry, this is not as scary as it sounds. You can sort this out by registering your trade name with your state (and or local government) by filing a “doing business as” (DBA) certificate. Also known as an “assumed name,” “fictitious business name,” or “trade name.” Need help? Check out this super handy resource that breaks down what a DBA is, the state requirements for a DBA, and how to file a DBA in all 50 states and U.S. territories .

3. Set up business accounting and bookkeeping

Let’s talk about something I find less cool but super important – business accounting and bookkeeping . This stuff is vital to understanding your cash flow and filing taxes correctly.

Accounting is all about recording, organizing, and presenting your financial info. It’s the backbone of your business’s financial health, helping you make informed decisions.

Bookkeeping is more about recording, storing, and retrieving your financial data.

Sure, the two overlap. But the significant difference? Bookkeeping is about recording and categorizing financial info, while accounting uses that info for analysis, strategy, and tax planning.

Hire a bookkeeper – your new best friend

Unlike accountants, bookkeepers have a simple mission: keep things organized, pay bills, track an invoice financing loan , and prep work for the accountant. They’re typically more wallet-friendly than CPAs (certified public accountants) and can handle day-to-day transactions, bank account balancing, basic reports, and keeping your financial records tidy.

Many consultants hire an external bookkeeper, paid hourly, who swoops in regularly to manage entries, bills, invoices, and receivables. The best part? They don’t need to be in your office 24/7. They can work remotely or drop by every couple of weeks.

An experienced bookkeeper isn’t just handy; they’re a lifesaver, especially when setting up invoice financing to speed up client payments. Plus, with the help of tools, a free invoice template , or invoicing software from Billdu for creating and managing invoices, they can help you be more efficient and less stressed.

Organize your financial information

Every business generates heaps of data; if it’s not organized and accessible, it’s as useful as a chocolate hammer. This is doubly true for your consulting gig. Even a few weeks of unrecorded transactions or a month of unmailed invoices can drown a small business.

A sharp bookkeeper can help you set up a filing system, keep bills organized, ensure invoices are sent out promptly, and introduce a disciplined, organized approach. They can even help set up and track invoice financing loans if clients are slow on payments.

Perform an annual health check

Don’t underestimate the value of a yearly review of your bookkeeping, accounting, and tax strategies. Give a hard look at your systems and the people managing them, and ask some critical questions.

Are you being cost-effective and productive with your accounting? Does your CPA understand your industry enough to give solid advice? Is your tax preparer skilled enough to keep you on the right side of the law? Most importantly, can you trim expenses while maintaining high-quality controls?

Take the time to reevaluate and bolster your accounting strategy. It might seem like a chore, but trust me, it’s worth it!

4. Assess your finances and secure startup capital

Let’s talk money. Assessing your finances is super important – it’s not just about tracking sales and profits but getting a complete picture of your financial health.

So, here’s the rundown on business finance:

Business finance is like your company’s personal trainer. It uses your financial data to help you manage your funds, making your operations profitable and sustainable.

And you’ve got plenty of business financing options.

You must figure out how to fund your business and fuel its growth. You’ll struggle to build a sustainable, profitable business if you’re not on top of your numbers.

Starting a business is exciting, but don’t let the excitement push you to overspend. Be careful with your funds and make purchases that make sense.

Expensive and unnecessary equipment? That’s a no-no. They might seem cool, but they could put your small business’s survival on the line.

Your startup costs may include the following:

• your brand design (logo, business cards , and website)
• any license or permit fees
• deposits and rent for a physical work location (if you plan to lease your own office space)
• basic infrastructural costs like VoIP phone and internet service, scheduling and invoicing software , etc. You can reduce costs by picking invoicing software that includes automated tax compliance.
• marketing and advertising costs

Here’s the upside – most successful consultants can run their businesses with low costs until they’ve built a solid client base, then they can spend more on equipment and supplies.

Securing startup funding

Securing sufficient capital is a major hurdle for new businesses. While self-funding is ideal, it’s often not feasible, making business partners or outside investors essential.

Before engaging potential partners or investors, clarify your expectations:

• What do you want from this partnership or investment?
• How involved should they be in decision-making?
• Is the relationship short-term or long-term?

Your partnership can take various forms: pure capital investment, cost-sharing, leads generation, or associating with a reputed brand. Knowing your goals upfront helps in selecting the right partner or investor.

Consider these relationship options:

• Crowdfunding. Platforms like Kickstarter and Indiegogo allow raising funds from the public without granting them business control. However, it requires fulfilling commitments made to backers. Crowdfunding may not suit consulting businesses, but its growing popularity, projected to exceed the global venture capital industry, makes it worth exploring.
• Angel investors and venture capitalists. These traditional funding sources suit those planning a consulting agency. Convincing investors about your business viability is challenging, particularly for startups. However, finding investors becomes easier if you have a profitable consulting business looking to scale, particularly in technology. Remember, they may want significant involvement in your business to safeguard their investment.
• Partnerships. True business partnerships involve an equal investment of finances, resources, and labor. Alternatively, you can establish temporary partnerships with existing brands or consultants who complement your services. Here are two examples: (a) Partner with a consultant in a related field to offer combined services to a broader client base; (b) Collaborate with a software business in your field to create a lead exchange program, driving well-qualified leads to each other. The crux is finding a partner who shares your goals and fostering mutual motivation to succeed.
• Strategic alliances. This is a collaboration where you and another business agree to combine resources to achieve a common goal. For example, a marketing consultant might form a strategic alliance with a graphic design firm . Together, they could offer a more comprehensive service to their clients. Both businesses retain their independence but might share costs, risks, and rewards.
• Joint ventures. A joint venture (J.V.) is a business agreement in which parties agree to pool their resources to accomplish a specific task or business activity. Unlike a strategic alliance, a J.V. often results in the creation of a new business entity. For instance, two consulting firms might create a J.V. to tackle a market segment neither could own. This type of arrangement typically involves more commitment and investment than a strategic alliance but can lead to greater rewards due to the combined strength of the partners.

Finally, remember that accounting and bookkeeping system we discussed earlier? It’s back in play here. You need to set up one to keep tabs on your finances. It’s essential for understanding cash flow and filing taxes, but it also helps you track income, expenses, capital expenditures, profit, loss, EBITDA, and so on.

5. Develop your brand identity

Think brands are only for the big corporations?

They’re super crucial for small businesses, especially independent consultants.

A solid brand adds a layer of professional polish that can be tricky for small outfits to establish. So, don’t leave your brand identity to fate – building a successful consulting biz requires serious attention to branding .

Let’s rewind – your brand is your company’s public persona. Ideally, it should reflect your business’s best and most vital traits.

For consultants, credibility is king. A lackluster brand identity undermines that.

Good design isn’t just a luxury – it’s essential for you and your clients.

Picture this – you’re selling $10,000 projects and want to double the price. To do that, you must articulate the value differently, and design can help.

Before you dive into networking, ask yourself some key questions. What persona do I want my brand to project? Who needs my services? What unique value do I offer? What are my brand values ? What’s the core part of my client’s experience? Your answers will shape your brand’s core and influence your future branding decisions, from your company name and logo design to your website design.

And remember, you don’t have to break the bank to create a strong brand identity. Here’s a guide to help you figure out the sweet spot for pricing:

• How much should a logo design cost?
• How much does a business card cost?
• How much should brochure design cost?
• How much does website design cost?

These guides cover various price points, so you’ll find something that fits your budget.

Ultimately, building a successful consulting business is about brand authenticity and connection . A compelling brand can make that happen. Whether you’re starting or thinking about a rebrand , take the time to think about your brand. It might make all the difference.

For more on establishing and maintaining a consistent brand identity, check out Grow Your Small Business with Consistent Branding .

Marketing psychology can help you increase revenues

Marketing Psychology can help you boost your revenues by incorporating psychological principles into your marketing strategy.

6. Create an effective fee structure

Creating an effective fee structure starts with understanding your operating costs – rent, utilities, subscriptions, taxes, supplies, and salaries. But don’t forget to factor in profit, which is crucial for business sustainability. And remember to pick a an appropriate consulting model.

Envision how you want to run your consulting business – a brick-and-mortar agency, a home office, or a global setup while traveling. Your fees should support this style. For various strategies, see this article by Andrea Coutu of Consulting Journal.

Thoroughly dissect your operational costs, which stretch beyond fixed and variable expenses like rent, utilities, and supplies, to incorporate aspects like:

• Time investment. Calculate the non-billable hours spent on marketing, administration, and skill enhancement.
• Risk mitigation. Factor in a buffer for unforeseen circumstances or potential risks, such as project overruns or unexpected costs.
• Profit margin. Explicitly ascertain a profit margin that compensates for your expertise and ensures business growth.

Next, conduct a robust analysis of:

• Competitor pricing. Understand competitors’ pricing strategies and identify market gaps or opportunities.
• Clients’ paying capacity. Evaluate the financial bandwidth of your target audience and what they’re willing to pay for your services.
• Unique Value Proposition . Gauge how your unique offerings and expertise can justify a premium or competitive pricing strategy.

Your pricing should resonate with the tangible and intangible benefits clients derive. To augment your perceived value:

• Showcase expertise. Use case studies, testimonials, and certifications to validate your expertise and results.
• Brand positioning . Ensure your branding, from website design to communication, exudes professionalism and competence.

Next, explore, understand, and select a pricing strategy that aligns with your services and client expectations:

• Hourly rate. Transparent and straightforward, this method is often suitable for consultants with clearly definable hourly services, such as legal consultants or I.T. troubleshooters. However, tracking hours is essential; questions may arise if work takes longer than estimated.
• Project rate. Ideal for projects with clear deliverables and defined timelines, like marketing campaigns or project management services. This could be risky if the work takes longer but beneficial if completed quicker. Adjustments may be needed for scope changes.
• Retainer. Suitable for ongoing, long-term services, such as H.R. consulting or business advisory, where clients require access to your expertise over a period.
• Value-based pricing. Charging is based on the value provided to the client, which can be highly profitable for consultants who significantly impact client revenues or costs, such as business strategy consultants or revenue growth advisors.

Additional revenue streams

Beyond direct consulting, explore alternative revenue avenues:

• Online courses. Leverage your expertise to educate others, ensuring a revenue stream decoupled from your consulting hours.
• E-books or guides. Create comprehensive guides or e-books based on your area of expertise, providing a low-cost option for those unable to afford your full services.
• Affiliate marketing. Recommend tools or services and earn a commission for each sale made through your referral.

Periodic review and adjustment

Ensure your fee structure remains viable and competitive through:

• Client feedback. Understand client perceptions and reservations about your pricing.
• Market trends. Stay attuned to shifts in market rates or emerging pricing strategies.
• Business evolution. As your expertise and offerings evolve, ensure your pricing reflects these advancements.

For more on fee setting, check out this online mini-course by Consulting Journal.

Consider offering online courses if you have unique expertise. It’s another revenue stream for your consulting business. Here’s a guide on how to sell online courses .

7. Launch your website and market your business

Your business website is not just a digital address; it’s your brand ambassador. Use your site to effectively communicate your brand ethos, values, and services to your target audience.

It’s crucial that your website truly personifies your consulting brand. For example, suppose you’re running a leadership consulting service emphasizing transparency and innovation. In that case, the site should have a modern, clean design with easy-to-navigate menus and transparent information about your services.

The website’s visual design elements should resonate with your brand’s voice and identity. For instance:

• Use your brand’s colors. If your brand colors are turquoise and white, these colors should be prominently displayed in your site’s design. For example, a sustainability consulting company might use green and earth tones to reflect their environmental commitment.
• Feature your company logo. Your logo is a visual shorthand for your brand, and it should be prominently displayed, preferably in the header or corner of every page.
• Write marketing copy for your target audience. Your website copy should speak directly to prospective clients’ needs and interests. If you’re a technology consultant, use language that tech-savvy visitors will appreciate and understand.
• Showcase your consulting style. Whether you’re more hands-on or prefer to guide from the sidelines, ensure this is evident. For example, a dynamic, interactive website may indicate a more engaging consulting approach.

Beyond these design elements, your website is an ideal platform to highlight your consulting achievements.

Feature testimonials and case studies from past clients to showcase your expertise and success. For example, a healthcare consultant might include a case study on how they helped a hospital streamline its processes for better patient care.

Including an online store on your website can be a strategic move, especially if you have proprietary consulting tools, books, or digital resources to sell. For example, a marketing consultant might sell eBooks or webinars on the latest marketing strategies.

Passive income can bolster your bottom line and is an important safety net for lean seasons.

Marketing your consulting business

Being an exceptional consultant is only half the battle; marketing yourself effectively ensures your talents don’t go unnoticed.

If you’re not selling your services, there’s a good chance that no one is. So, you’ll complete your current contracts to find an empty calendar with no income looming ahead. As a result, you’ll miss many opportunities to generate ongoing online marketing income and may need to start from scratch.

Establishing a steady pipeline of clients and potential clients involves spreading the word about your consulting services to your target market.

Ultimately, you’ll write many client proposals , so get used to doing so early in your consulting practice.

Client proposals are your chance to show how you can help clients solve their problems. You’ll need to be clear about the project’s scope, the services you provide, what you’ll charge for the services, the deliverables, and the time frame, and use an electronic signature tool to bind clients legally. And be sure you show how you and the client can measure the results.

One proven method to gain traction in consulting and attract clients is to share your expertise extensively.

Networking at industry events relevant to your clients can be a goldmine for insights about industry trends, networking with current and prospective clients, and leveraging word-of-mouth referrals to generate fresh consulting leads. For example, if you’re a technology consultant, participating in tech expos or conventions can put you directly in contact with potential clients.

Participating in events catered to the consulting industry could also be beneficial, as you can build connections with other consultants and potential clients. This could also expose you to different approaches to delivering a persuasive value proposition when offering your consulting services to clients.

When attending these events, carry business cards and brochures about your services, complete with contact information, including a phone number. While email communication is prevalent,   other tactics like an email signature can help strengthen your business communication and establish trust with prospective clients.

In your marketing collateral, include the following:

• A comprehensive overview of your services
• A persuasive argument about why you’re the best choice
• Convincing reasons to hire you
• A concise biography containing relevant information
• A snapshot of your existing client portfolio

Also, consider exploring content marketing strategies tailored for consultants. Writing an ebook about your field of expertise or maintaining a regular blog can help establish you as an authority in your niche, improve your search ranking through SEO practices, and gather email leads. For example, a leadership consultant could blog about the latest trends in leadership and management, drawing from their own experiences and insights.

As a burgeoning business owner, capitalize on the exposure offered by social media marketing . Platforms such as Twitter , Facebook, and LinkedIn can help build an audience of followers.

Regularly post helpful tips, insights, and articles related to your services. By engaging with your followers and participating in relevant discussions, you present yourself as a subject matter expert, reinforcing your reputation as a knowledgeable and reliable consultant.

Invest in a social media management tool like Buffer for scheduling posts beforehand, freeing up your day to focus on clients. However, regular check-ins are essential to address client inquiries promptly.

Consider collaborating with micro-influencers in your industry, as aligning your brand with theirs can boost credibility and accelerate growth.

Here are other marketing strategies and tactics that can help you grow your consulting business:

Host free workshops or webinars

Free educational content through workshops or webinars can exhibit your expertise and attract potential clients.

Best for: I.T. consultants, marketing consultants, and management consultants. Not good for: Legal consultants, financial advisors, medical consultants.

Collaboration and partnerships

Join other consultants or businesses to expand your client base by providing complementary services. Best for: Technology consultants, business strategy consultants, marketing consultants. Not good for: H.R. consultants, independent financial consultants, health & safety consultants.

Whitepapers and case studies

Publishing in-depth whitepapers and client case studies demonstrates your skills and past successes. Best for: Data analytics consultants, research consultants, and financial consultants. Not good for: Image, lifestyle, or social media consultants.

Leverage client testimonials

Use your positive feedback and testimonials from past clients in your marketing materials to build trust. Best for: Management consultants, education consultants, H.R. consultants. Not good for: Cybersecurity consultants, legal consultants, crisis management consultants.

Join online forums and groups

Engage in online communities related to your niche, offering advice and establishing your expertise. Best for: Tech consultants, SEO consultants, freelance writing consultants. Not good for: Medical consultants, corporate strategy consultants, or tax consultants.

Implement a referral program

Reward existing clients for referring new clients to your consulting business. Efficient referral program software can streamline this process, making it easy to track and reward referrals. Best for: Career consultants, small business consultants, fitness consultants. Not good for:  Forensic, industrial safety, and agricultural consultants.

Pitch to local media

Offer your expertise for free to local media in exchange for publicity.

Best for: Personal finance consultants, relationship consultants, wellness consultants. Not good for: I.T. consultants, biotech consultants, energy consultants.

Speak at conferences

Presenting at conferences can establish you as an authority and help network with potential clients.

Best for: Environmental consultants, scientific researchers, marketing consultants. Not good for: Personal shopping, etiquette, or hobby consultants.

Engage in direct email marketing

Sending targeted emails with valuable content to a segmented audience can generate leads. Best for: Sales consultants, digital marketing consultants, and e-commerce consultants. Not good for: Grief consultants, child behavior consultants, or art consultants.

Local business community involvement

Engaging with local business communities or chambers of commerce can help foster local client relationships. Best for: Retail consultants, local marketing consultants, and hospitality consultants. Not good for: International trade, space, and research & development consultants.

Sharing regular posts about industry insights or tips showcases your expertise and improves your website’s visibility on search engines. Best for: Marketing consultants, career coaches, nutrition consultants. Not good for:  Privacy consultants, forensic consultants, chemical consultants.

Hosting online seminars can display your knowledge to a wide audience and attract potential leads. Best for: Financial consultants, I.T. consultants, marketing consultants. Not good for: Art consultants, fashion consultants, or local retail consultants.

Creating or participating in podcasts can help you reach new audiences and discuss industry trends and insights.

Best for: Personal development coaches, financial advisors, and health consultants. Not good for:  Cybersecurity consultants, data privacy consultants, industrial consultants.

Speaking and teaching

Leading workshops or courses and speaking at events can build your reputation and network. Best for: Business consultants, educational consultants, leadership consultants. Not good for:  Legal consultants, risk management consultants, chemical safety consultants.

Social media marketing

Using platforms like LinkedIn, Twitter, and Facebook to share content and engage with followers can enhance your online presence and credibility.

Best for: Social media consultants, branding consultants, travel consultants. Not good for:  Data security consultants, industrial safety consultants, forensic consultants.

Print or digital advertising

Placing ads in newspapers, magazines, or online platforms can promote your services to a broader audience.

Best for: Event planners, small business consultants, real estate consultants. Not good for: Scientific research consultants, aerospace consultants, and biomedical consultants.

Cold calling and emailing

Directly contacting potential clients might generate quick leads, but it might also have low conversion rates.

Best for: B2B service providers, sales consultants, and marketing consultants. Not good for:  Childcare consultants, mental health consultants, art consultants.

Remember, marketing becomes more straightforward once you’ve established a client base. According to this study , “43.7% of consultants reported that referrals were their top-earning marketing strategy”. Don’t hesitate to ask satisfied clients for referrals, as they can be a significant marketing asset.

Starting out, covering as many marketing channels as possible is wise. As you grow, you’ll naturally discover what methods work best for your consulting business.

8. Grow your consulting business

Starting a consulting business is thrilling, but it’s just the beginning. Here are five exciting steps to take your consulting business to the next level:

Study your competitors

Get your magnifying glass out and take a good, hard look at what other consultants or firms in your space are up to.

You’ll uncover their secrets to success and spot areas they’ve missed, carving out unique opportunities for you. Notice their marketing approach, service offerings, and how they price their services. A competitive analysis will give insights into your customers’ journeys and ways to make your service the top pick.

Be a storyteller

Starting a blog is like opening a window into your consulting world. It gives your business a voice, helps you become a trusted authority in your field, and boosts your online visibility.

If you’re scratching your head about what to write, your clients are your best inspiration. Address their challenges and questions in your blog posts. Plus, sharing these posts with potential clients can convince them of your expertise.

Be the thought leader

Beyond blogging, sharing your insights on social networks can amplify your reach. Use platforms like HARO to connect with journalists and bloggers who can quote you in their stories. This way, you can gain your consulting niche’s recognition as a thought leader.

Broaden your horizons

Your competitive analysis might reveal services your competitors offer that you don’t. Can you fill these gaps?

For example, if you’re a content marketing consultant, could you extend your services to include email or social media marketing? But remember, only add services that align with your expertise.

Make friends

The world is full of potential connections, and they’re only a click away from the internet. Networking online might seem tricky, but with platforms like Twitter and LinkedIn, you can spark conversations with industry peers and potential clients. Regular interaction can rekindle old connections and forge new ones.

Test these strategies and find the ones that boost your client base and help your consulting business thrive. Remember, it’s not about copying others but learning from them and building a brand that reflects you.

Grow your team

The life of an entrepreneur can often feel solitary, especially when you’re launching your consulting business. While the journey may start with you at the helm, remember the goal is to grow and expand, which calls for additional hands on deck.

After all, time is a finite resource, and you can’t run a successful consulting business burning the midnight oil every night. As your business scales up, you must delegate tasks to ensure you continue delivering exceptional service to your clients.

However, expanding your team doesn’t mean hiring without a strategy. Each new member should bring immediate value to your business. This decision is highly specific to your business, as every consulting venture has unique challenges and requirements.

Reflect on your strengths and weaknesses to determine who your first hire should be.

For instance, if marketing isn’t your strong suit, consider hiring a marketing manager to help map your business plan. Just ensure you validate their credibility, perhaps through references or evaluation letters , to guarantee they’re the real deal.

If dealing with numbers gives you a headache, a billing specialist could be your saving grace, managing accounts and ensuring payments are collected on time.

In essence, your first employees should fill the gaps in your expertise. Building a well-rounded team ensures a sturdy foundation for your business.

For many entrepreneurs, the first hire is often a part-time virtual assistant – a jack-of-all-trades ready to dive in, learn, and grow with the company. This person should be reliable, proactive, and have a strong work ethic. Having someone dependable on your side will make your journey less stressful and more enjoyable.

So, take a moment to reflect: what does your business truly need? Who could help turn your weaknesses into strengths and pave the way for your consulting business to thrive?

Start your consulting journey today

Venturing into entrepreneurship, especially after years of enjoying the safety of a salaried job, can be daunting.

The fact that you’ve made it this far in the article indicates a spark within you, a desire for something more fulfilling, more liberating.

Starting a consulting business can be a transformative journey, not just a decision. It’s a courageous step, a move that speaks volumes about your passion, expertise, and readiness to shape your destiny.

Are you ready to embrace this adventure, empower others with your knowledge, and define your own path?

The world of consulting awaits your unique perspective and innovative solutions. Will you rise to the challenge and create your own consulting legacy?

Associations

• Airport Consultants Council
• American Marketing Association
• Association of Management Consulting Firms
• Canadian Association of Management Consultants
• Canadian Marketing Association
• Direct Marketing Association
• Direct Selling Association
• Information Technology Association of America
• Institute of Management Consultants USA
• International Advertising Association
• International Association of Registered Financial Consultants
• International Association for Wedding Professionals
• International Branding Association
• IWA – International Webmasters Association
• National Retail Federation
• Professional & Technical Consultants Association
• Public Relations Society of America
• Search Engine Marketing Professional Organization
• SMEI The worldwide professional association for sales & marketing
• The National Association of Sales Professionals
• The Society of Professional Consultants
• Word of Mouth Marketing Association

Frequently Asked Questions (FAQs) about consulting

1. where can a consulting business identify government contracts to pursue.

You can find government contracts on official government procurement sites such as SAM.gov in the U.S. This platform lists federal business opportunities. Remember, each country has its own respective platform.

2. Can I establish a consulting business while still employed elsewhere?

Absolutely! Starting a consulting business as a side venture is possible. It allows you to test the waters and build a client base without risking your current employment. Just ensure that there’s no conflict of interest with your present job.

3. Which are promising sectors to launch a consulting business in?

The best field for your consulting business depends on your skills, experience, and passion. However, industries like I.T., H.R., business strategy, healthcare, and environmental sustainability are seeing high demand for consultants.

4. What credentials are required to start a consulting business?

While there are no specific requirements to start a consulting business, having relevant qualifications, certifications, and experience in your chosen field will boost your credibility and attract potential clients.

5. How can I price my consulting services?

Pricing can be based on factors like market rates, the complexity of the work, the client’s budget, and your experience. You can choose an hourly rate, a per-project fee, or value-based pricing.

6. How do I market my consulting business?

Multiple channels to market your consulting business include networking, social media marketing, blogging, speaking engagements, and email marketing. Highlight your unique value proposition and expertise.

8. Is a business plan necessary for a consulting business?

It’s not necessary but highly recommended. It provides direction, helps you understand your market and competition, and is necessary if you seek funding.

8. How can I differentiate my consulting business from competitors?

Differentiating your consulting business requires you to clearly articulate your unique value proposition, leverage your unique skills or experience, specialize in a niche, provide excellent customer service, and build a strong personal brand.

9. Should a consulting business be incorporated?

Incorporation can provide benefits such as limited liability, tax advantages, and a professional image. It’s advisable to consult with a legal professional or business advisor to understand the best structure for your business.

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Project Management Consulting Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » B2B Sector

Are you about starting a project management consulting company? If YES, here is a complete sample project management consulting business plan template & feasibility report you can use for FREE .

Project management consulting is one of many business niche ideas in the consulting industry which someone with certification in project management can successfully launch in the United States and still break even within record time, if indeed they know their worth.

Project management is a methodical approach to planning and guiding project processes from conception to completion; it is a temporary endeavor initiated with the sole aim of creating a unique product, service or result as the case maybe.

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A Sample Project Management Consulting Business Plan Template

1. industry overview.

Project management consulting is a niche idea in the Management Consulting industry and management consultants advise businesses, nonprofits and public-sector agencies in the following areas: organizational design, human resources, corporate strategy, information technology strategy, marketing and sales, finances and logistics.

It is important to note that firms that are involved in providing day-to-day administrative services and establishments that are concentrated in recruitment, training, public relations, market research, engineering design, computer systems design and investment advice et al are not considered as part of the management consulting industry.

A close study of the management consulting industry shows that over the years, the industry has been experiencing success as stronger corporate profitability and increasing business expenditure resulted in higher demand for advisory services.

In recent years, the demand for this industry has come from a number of different sectors and services. Demand was strong from financial institutions and professional firms and healthcare companies have also been a boom to the industry .

So also, the ongoing transition toward digital technology has provided new opportunities for operators. Going forward, the industry is expected to grow with the general US economy. Information technology will continue to be a key growth area for firms, while other sectors such as healthcare also provide new business opportunities.

The Management Consulting industry is indeed a large industry that is very active in developed countries. Statistics has it that in the united states of America alone, there are about 723,001 registered and licensed management consulting firms (project management consulting firms inclusive) scattered all across the United States responsible for employing about 1,517,845 and the industry rakes in a whooping sum of $223 billion annually.

The industry is projected to grow at 3.1 percent annual growth within 2012 and 2017. It is important to state that Accenture, DTT and McKinsey have a lion market share in the industry.

A recent report published by IBISWORLD shows that the Management Consulting industry is in the mature stage of its life cycle.

The report highlighted the fact that the industry is characterized by growth in line with the overall economy, an increasing number of industry players and technological change based on improving efficiency rather than developing entirely new services.

The report also stated that over the past five years, the industry has experienced strong growth as a result of surging corporate profit and new demand for advisory services as digital technologies change the way companies do business.

Furthermore, consultants continue to be a key component in helping firms navigate a constantly changing business landscape. The report further reveals that over the 10 years to 2022, industry value added (IVA) is projected to increase at an annualized 3.4 percent.

Lastly, one good thing about project management consulting business is that there are readily available markets for their services.

This is so because in most cases, organizations that are looking towards achieving excellence and good results in any of their projects would naturally want some professional touches hence the need to hire project management consulting firms.

2. Executive Summary

GT Clarkson & Co® Project Management Consulting, LLP is a standard and licensed project management consulting firm that will be located in Los Angeles – California, United States. We have been able to secure a long term lease for a standard office facility in a good business district in the heart of Los Angeles.

We will handle all aspects of project management consulting service for players in various industries. We are aware that to run a standard project management consulting firm can be demanding which is why we are well trained, licensed and equipped to perform excellently well.

GT Clarkson & Co® Project Management Consulting, LLP is a client-focused and result driven project management 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 project management consulting services to our local, state, national, and multinational clients and we will ensure that we work hard to provide the required consulting services and staffing solutions needed by our clients to accomplish their business goals and objectives.

At GT Clarkson & Co® Project Management Consulting, LLP, our client’s interest come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire certified project management consultants who are well experienced in a wide variety of project management consulting services.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will at all times demonstrate our commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

GT Clarkson & Co® Project Management Consulting, LLP is founded by Gerald Thompson Clarkson. GT Clarkson graduated from University of California – Berkley (First Degree), and Brock School of Business at Stamford University (MBA).

He is a Certified Project Management Professional with over 15 years of hands-on experience working as a senior project management consultant with one of the leaders in the management consulting industry.

3. Our Products and Services

GT Clarkson & Co® Project Management Consulting, LLP is going to offer varieties of related project management consulting services within the scope of the staffing, recruitment and workforce solutions industry in the United States of America.

Our intention of starting our project management consulting business 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 offerings are listed below;

• Project planning and economic assessments
• Quality management assessment and accreditation
• feasibility studies, including environmental impact assessment and community consultation
• Cost management
• Scheduling management
• Compliance management
• Contract administration

4. Our Mission and Vision Statement

• Our vision is to become the number one project management consulting firm in the whole of Los Angeles – United States of America.
• Our vision reflects our values: integrity, service, excellence and teamwork.
• Our mission is to provide professional, trusted and result oriented project management consulting services that assist businesses and non-profit organizations in operating sustainably and maximizing profits in the business.

Our Business Structure

Starting a small scale project management consulting firm would require that you settle for two or three staff members, but as part of our plans to build a world class project management consulting business in Los Angeles – California, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we get competent, qualified, honest and hardworking employees to occupy all the available positions in our firm.

The picture of the kind of project management consulting firm we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around Los Angeles – California as long as they are willing and ready to work with us.

Below is the business structure that we will build GT Clarkson & Co® Project Management Consulting, LLP;

• Chief Executive Officer/Lead Consultant
• Project Management Consultant

Legal Secretary

Admin and HR Manager

• Business Developer (Marketing and Sales Executive
• Customer Service Executive

5. Job Roles and Responsibilities

Chief Executive Office/Lead Consultant:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Makes, connects, and gears the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Accountable for fixing prices and signing business deals
• In charge of providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• In control of drawing up contracts and other legal documents for the company
• Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
• Produces information by transcribing, formatting, inputting, editing, retrieving, copying, and transmitting text, data, and graphics; coordinating case preparation.
• Provides historical reference by developing and utilizing filing and retrieval systems; recording meeting discussions; maintaining transcripts; documenting and maintaining evidence.

Project Management Consultant 

• Handles project planning and economic assessments
• Handles quality management assessment and accreditation
• Handles feasibility studies, including environmental impact assessment and community consultation
• Responsible for handling cost management, scheduling management, compliance management, and contract administration
• Handles any other responsibility as assigned by the Lead Consultant
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Design job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations
• Oversees the smooth running of the daily office activities

Business Developer (Marketing and Sales Executive)

• Identify, prioritize, and reach out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develop, execute and evaluate new plans for expanding increase sales
• Document all customer contact and information
• Help increase sales and growth for the company
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions
• Responsible for financial forecasting and risks analysis
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Client Service Executive

• Ensures that all contacts with clients provide the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
• Receives clients on behalf of the organization
• Receives parcels/documents for the company
• Handles enquiries via e-mail and phone calls for the organization
• Distribute mails in the organization
• Handles any other duties as assigned by the line manager

6. SWOT Analysis

GT Clarkson & Co® Project Management Consulting, LLP engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a reputable and result oriented project management consulting firm that can favorably compete in the highly competitive management consulting industry.

Part of what the team of business consultant did was to work with the management of the firm in conducting a SWOT analysis for GT Clarkson & Co® Project Management Consulting, LLP. Here is a summary from the result of the SWOT analysis that was conducted on behalf of GT Clarkson & Co® Project Management Consulting, LLP;

Our core strength lies in the power of our team. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in project management consulting.

Aside from the synergy that exist in our carefully selected workforce and our strong online presence, GT Clarkson & Co® Project Management Consulting, LLP is well positioned in a business district with the right demography and we know we will attract loads of corporate clients from the first day we open our doors for business.

As a new project management consulting firm, it might take some time for our organization to break into the market and work for some high profile and high paying clients; that is perhaps our major weakness.

• Opportunities:

Digital technology has provided new opportunities for project management consulting firms to assist multiple businesses per time. No doubt, the opportunities available to project management consulting firms are indeed 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 project management consulting firm operating in the United States are unfavorable government policies , the arrival of a competitor within our location of operation and global economic downturn which usually affects spending/purchasing power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

Notable trends have emerged in recent time in the management consulting industry which is why project management 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 project management 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.

As the cost of management consulting services continue to increase and as corporate spending falls, new consulting delivery methods will continue to emerge and gain momentum going forward. Fast adjustments made to changing regulations are also key to the growing trends in this industry.

Lastly, it is now becoming trendy in the management consulting industry for smaller project management consulting firms to merge with bigger management consulting firms and for bigger consulting firms to acquire smaller project management consulting firms.

Smaller project management firms continue to enter the industry due to strong profit and also many project management consulting firms all over the United States are coming to the conclusion that the bigger the better for them.

8. Our Target Market

Although GT Clarkson & Co® Project Management 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 project management consulting firms in the United States.

We hope to someday merge or acquire other smaller project management consulting firms and expand our project management consulting services beyond the shores of the United States of America.

As a full service and standard project management consulting firm, GT Clarkson & Co® Project Management Consulting, LLP has a variety of practice areas to help startups grow especially as it relates to starting and completing projects.

While we work with a variety of organizations and industries, GT Clarkson & Co® Project Management Consulting, LLP will also specialize in working with startups, real estate investors, contractors, manufacturers, distributors, banks, lending and financial institutions.

Our target market cuts across people of different class, 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;

• Banks, Insurance Companies and other related Financial Institutions
• Businesses and Entrepreneurs
• Blue Chips Companies
• Corporate Organizations
• Manufacturers and Distributors
• Real Estate Owners, Developers, and Contractors
• Research and Development Companies
• The Government (Public Sector)
• Households and families
• Schools (High Schools, Colleges and Universities)
• Sport Organizations
• Entrepreneurs and Startups

Our Competitive Advantage

The level of competition in the management consulting industry depends largely on the location of the business and of course the niche of your project management consulting business. If you can successfully create a unique niche for your project management consultancy business, you are likely going to experience little or no competition.

For instance; if you are the only project management consultancy firm that consult for player in the construction industry in your location, you are sure of monopolizing that aspect of staffing.

GT Clarkson & Co® Project Management Consulting, LLP might be a new entrant into the management consulting industry in the United States of America, but our management staff and board members are considered gurus. They are core professionals, licensed and highly qualified project management 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 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.

9. SALES AND MARKETING STRATEGY

• Sources of Income

GT Clarkson & Co® Project Management Consulting, LLP is established with the aim of maximizing profits in the management 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.

GT Clarkson & Co® Project Management Consulting, LLP will generate income by offering the following project management consulting services for individuals and for organizations;

• Feasibility studies, including environmental impact assessment and community consultation

10. Sales Forecast

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 months of operation and grow the business and our clientele base beyond Los Angeles – California to other states in the U.S.

We have been able to critically examine the project management consultancy 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 Los Angeles – California.

• First Year: $200,000
• Second Year-: $500,000
• Third Year-: $1,000,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there are stiffer competitions amongst players in the management consulting industry in the United States of America; hence we have been able to hire some of the best business developers 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 the target and 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 project management consulting business that will leverage on word of mouth advertisement from satisfied clients (both individuals and organizations).

Our goal is to grow our project management consulting business to become one of the top 10 project management 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.

GT Clarkson & Co® Project Management Consulting, LLP is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our business by sending introductory letters alongside our brochure to organizations and key stakeholders in Los Angeles – California
• Promptness in bidding for project management consulting contracts from the government and other cooperate organizations
• Advertise our business in relevant business magazines, newspapers, TV and radio stations
• List our business on yellow pages ads (local directories)
• Attend relevant international and local expos, seminars, and business fairs et al
• Create different packages for different category of clients in order to work with their budgets and still deliver quality project management consulting services to them
• Leverage on the internet to promote our business
• Engage in direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

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

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

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community programs
• Leverage on the internet and social media platforms like Instagram, Facebook, twitter, et al to promote our brand
• Install our billboards in strategic locations all around Los Angeles – California and major cities in the United States of America
• Engage in roadshows from time to time in targeted communities
• Distribute our fliers and handbills in target areas
• Position our Flexi Banners at strategic positions in the location where we intend getting clients to start patronizing our services
• Ensure that all our staff members wear our customized clothes, and all our official cars are customized and well branded

12. Our Pricing Strategy

Hourly billing for consulting services is a long – time tradition in the industry. However, for some types of consultancy services especially project management services, flat fees make more sense because they allow clients to better predict consultancy costs.

As a result of this, GT Clarkson & Co® Project Management Consulting, LLP will charge our clients a flat fee or per head for many basic services such as one-off project consultancy services et al.

At GT Clarkson & Co® Project Management Consulting, LLP we will keep our fees below the average market rate by keeping our overhead low. In addition, we will also offer special discounted rates to startups, nonprofits, cooperatives, and small social enterprises.

• Payment Options

The payment policy adopted by GT Clarkson & Co® Project Management Consulting, LLP is all inclusive because we are quite aware that different customers prefer different payment options but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that GT Clarkson & Co® Project Management Consulting, LLP will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our clients make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.

13. Startup Expenditure (Budget)

Starting a project management consulting firm can be cost effective because on the average, you are not expected to acquire expensive machines and equipment.

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 furnish and equip the office, the amount needed to pay bills, purchase relevant software apps, promote the business and obtain the appropriate business license and certifications.

These are the area we are looking towards spending our startup capital;

• The total fee for incorporating the business in the United States of America – $750
• The budget for basic insurance policy covers, permits and business license – $2,500
• The amount needed to acquire a suitable Office facility in a business district for 6 months (Re – Construction of the facility inclusive) – $40,000
• The cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $5,000
• The cost for purchase of the required software applications (CRM software, recruitment software and Payroll software et al) – $10,500
• The cost of launching our official Website – $600
• Budget for paying at least three employees for 3 months plus utility bills – $10,000
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
• Miscellaneous: $1,000

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

Generating Startup Capital for GT Clarkson & Co® Project Management Consulting, LLP

GT Clarkson & Co® Project Management Consulting, LLP is a business that will be owned and managed by Gerald T Clarkson and other business partners. They are the financier of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.

• Generate part of the startup capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from the bank

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 documents have 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

The future of a business lies in the number of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting GT Clarkson & Co® Project Management Consulting, LLP is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer nothing short of excellent and result oriented services.

GT Clarkson & Co® Project Management Consulting, LLP will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of ten years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check: Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of all forms of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the startup capital from the founder: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the needed furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with key players in the industry: In Progress

Management Consulting Business Plan

Being a manager is not everyone’s skill. Some are good at only following orders and are afraid to handle leadership tasks. Probably because of one’s background in the family, being the youngest or for what ever reason, but there are occasions when you get the job as a leader, as a manager, as a supervisor, or any job that has something to do with managing other peers. And it may sound shocking to you. And no matter how hard you research on management skills improvement, the job is just too unforgiving for you. Do not panic yet. There is job called management consultation. And you could be the right person that will rightly benefit such job. So what does a management consultant do?

• 9+ Project Management Plan Template Examples
• 6+ Financial Consulting Business Plan Examples

To understand more, let us dissect each of the major words accordingly: management, consultation, business plan.Management is the process of dealing, handling, and or controlling things or people. So for example, you have a team of 5 persons in your company. And you as the manager will make sure that everything is handled properly, that all things are well taken care of, and tasks are properly distributed.You may also see management consulting business plan examples .

Management Consulting Example

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Consultation and Management Plan Example

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Management Consulting Milan Example

Consultation is the act in which someone goes to another person to seek advice. For example, a child goes to his father to seek advice whether he should go to school or not because he is sick. The father may give him options. Show him the disadvantages and disadvantages of either going to school and not going to school. But he will not decide for the child.You may also see business consulting business plan examples .

Business plan is the method in which one manages his techniques, strategies to execute his business in a documentation. It is a way of organizing strategies to achieve sales. For example, when selling beverages, your main task, regardless whether you have a business plan or not, is to sell beverages. If you have a business plan, you will write down what you will do to make some sales, and how sales are made, how you reach to your customers, and everything.You may also see engineering consulting business plan examples .

Management and Theories

To understand what a good management is, let us review some literature and theories regarding management.

The earliest proponent of management was Frederick Winslow. Frederick was not a manager; in fact, he was an engineer, a mechanical engineer. His book, The Principles of Scientific Management, was published in 1909. In his book, he proposes the simplification of job which, he believes, will improve productivity. In the early 20th century, the practice in the industry in many companies was that of dictatorship. The managers gives the employees the job to do, and that was it. There was no need for the managers to be in contact with the employees. This led to unproductive workers.You may also see  financial consulting business plan examples

The following principles proposed by Frederick Winslow are as follows:

1. The use of scientific methods. This means looking for the most possible efficient way to perform and complete a task.

2. Monitoring of employees. By monitoring the employees, the manager is able to determine which one is doing well and which one is not. And when a particular employee is not doing well, he will be offered guidance as long as it is needed.You may also see  restaurant consulting business plan examples

3. Correct assignment of a task. This means an employee should not be given a task that is not fitting for him. For example, a gardener should not be given the task to build a building. This also requires coaching them.

4. Focus on planning and professional improvement on the side of the management. The employees, on the other hand, must focus on the task assigned to them.You may also see business plan examples .

And those are the core of Frederick Winslow’s management. Another one is from Max Weber. Weber’s notion of management follows the same as Winslow’s except for some; he added an emphasis on emotion. His theories are as follows:

• Profile documentation at all levels of an organization.
• So that employees can focus, they need to know and have mastery of their roles.
• Clearer hierarchies for every organization.
• Standardization of procedures.
• The hiring of employees that are fit for the job.

The other proponent is Elton Mayo. Elton added, relationship and teamwork is very essential and effective in every workplace. It is good that an industry will have the correct people doing jobs fitting for them, but it is important that they should work as a team.You may also see  security consulting business plan examples

Ludwig von Bertelanffy made emphasis on the holistic process of management. He patterns his concepts and theory from a biological standpoint of view. A body functions well because each part functions well. Each part of the body will be the sum of all the work. If one part is not functioning well, the whole body will not be efficient.You may also see strategic plan examples .

Douglas McGregor presents two types of management: the X and Y management theory.

1. Theory X puts emphasis on authoritarianism. This is the negative approach to management. Such kind of management assumes that employees are not motivated to work, unless when pushed. And there is too much power involved in the manager in the control of the work. This includes the incentives in which employees must work hard to get a quota.You may also see management plan examples.

2. Theory Y puts emphasis on teamwork. It follows Elton Mayo’s studies. This is management seen in a positive approach.

Douglas purports that Theory Y is the better choice of the two. Although, authoritarianism still exists today.You may also see business proposal examples .

Management Consulting Services Business Plan Example

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There are still many concepts and theories out there. To sum it up, we can put management in as follows:

1. To always look for the most efficient ways of performing a task. There is no perfect way of doing a job. But there are always ways to make everything efficient in completing a task.You may also see lawn care business plan examples .

2. Emphasis on teamwork. All members cooperate the way human parts in the body would.

3. Specialized skills. Any specific task should be given to an employee fitting to execute the said task.

We have covered and investigated thoroughly the dynamics of a good management. Let us look deeper into the core of consultation. We have made mention that consultation is the process in which one person comes to another to seek advice. Applying all those approaches mentioned above, one can guarantee an efficient and effective business plan.You may also see  tutoring business plan examples

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Management Consultancy Business Guide 2016–2017 Example

Identifying issues and problems at hand.

But every individual, every company has its own characteristics and hence requires a different approach. This is solved by asking, what are the problems that the individual or the company is facing? When you go to a consultant, you should at least have some ideas on the issue you want to resolve.You may also see hotel operational business plan examples .

Here are some steps in identifying problems:

1. Identify the issues. Issues could be your relationship with your peers. It could be a seniority issue. It could be a gender issue. It could be the tasking. It could be anything work related.You may also see  restaurant project plan examples

2. Understand everyone’s interests. Is there something in your workplace that only favors one and not the others?

3. List the possible solutions (options). You have sensed the problems. You must have some initial ideas as to how it could be solved. But always remember, there are still others in your team who could give another opinion, answer, or solution. You may also see  accounting firm marketing plan examples

4. Evaluate the options. From the many solutions being offered, from the manager, from the employees, from anyone, make sure to weigh each of them. Which one is efficient? Which one is practical? Which one favors the many? And which one is ethical?

5. Select an option or options. Among the many options, choose one that you think is right, perfect, proper. Something that favors the many, i. e., for the good of the company and for each of the members.You may also see  food catering business plan examples

6. Document the agreement(s). The documentation should have happened right from the start and not just in the agreement. The drafting of the problems should have been documented in the first place.

7. Agree on contingencies, monitoring, and evaluation. So now you have made half of the solution by drafting, laying down what to do in a document. Documentation is important not only for recording purposes but also for using as reference upon which you and your team will base their evaluation.You may also see  restaurant operational plan examples

Basically, that is all you need to make a good business plan on management. Always making sure it has observed the concepts of a good management. Although there is not one model of a good management, but if you consider all of them, you can see a distinguishing characteristic that is common to all of them. You can put that in keywords: efficiency, teamwork, and fit task. When looking for a management consultant, one should initially draft the underlying problems. This is to give the consultant an idea of what you are after, at least initially.You may also see  compliance strategic plan examples

You may skip a consultant, you may skip seeking advice from a consultant. But bear in mind this is their expertise. And you really want a second opinion, not just your own. Also, you want a third party to stand between you and the rest of the team. But these are just some of many tips. If you can do it on your own, fine, but as always, two heads are better than one.You may also see  social media business plan examples

Always remember, management consultants help your business, whatever type of business, maximize its strengths, improve performance by being critical in how it is being run and operated. They do this by solving problems, as well as finding better ways of executing things. They always look for new approaches. The best thing they can do is help you find ways in making your company cost efficient without compromising quality. If you need a doctor for you health, if you need a mechanic for your car, an adviser for your spiritual life, the same thing goes to business.You may also see  transition plan examples

A business needs to be updated in order to be competitive against any other business. If you do it yourself, chances are you can only see what is within you, your company. But you are aware that the real competition is outside the walls. And you need an outsider to give you that perspective. You need someone from the outside. Someone that can give you fresh ideas. Someone that the rest of your family operating the business would look up to.You may also see  real estate investor marketing plan examples

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Freia Muehlenbein: How to pitch to WIN

Winning pitches is tough. Ghosting has become a common challenge, and even when you win, clients may be commissioning smaller pieces of the project rather than

Project Planning: A Guide For Professional Service Firms

What is project planning?

What is a project plan, what are the benefits of project planning, project plan example, how to make a project plan in 9 simple steps, simplify project planning with scoro.

Your project plans make all the difference to project success.

While no plan is 100% foolproof, detailed project planning gives you and your team a clear roadmap to follow—one that outlines how you can meet your clients’ goals and your own.

Let’s take a closer look at the basics of project planning and how to create this actionable, single source of truth:

Project planning means laying the groundwork of how the project will be done—defining the project’s who, what, when, and why.

The project planning process happens after the project has been approved and before the project officially kicks off. It builds on the high-level planning during your initial project quoting stage. 

From that high-level plan, you create a comprehensive, actionable guide that details the important info and steps needed to execute the project. 

A project plan is a comprehensive document that serves as a blueprint for the entire project, outlining the following key elements:

• Project scope: What the project will (and won’t) include
• Objectives: Specific, measurable goals for project success 
• Deliverables: The tangible products, services, or results your team should produce
• Tasks: Individual activities and steps required to complete each deliverable
• Timeline: A schedule outlining when each project phase and task should start and finish, when deliverables will be submitted, and key milestones
• Budget and resources: The estimated costs of all the people, equipment, software, and materials needed for the project
• Communication strategy: How and when you’ll update clients on project progress 

The project plan is a living document that should be updated throughout the project.

Project planning makes it much easier to execute projects. It gets your entire team on the same page about what will be done, when, and by whom. And establishes shared expectations with clients.

Project planning also offers:

• A clear roadmap: With everything outlined and in one place, your team knows exactly what to do and when. Which reduces missed deadlines. 
• A way to control costs: Your project plan includes a detailed budget so you can track costs and reduce financial overruns. And since project plans also streamline your team’s work, your labor costs reduce over time. 
• Better communication: By listing out key contact info and knowing your clients’ communication preferences, you can keep them in the loop without overloading them.
• Risk mitigation: Establishing shared expectations with clients before the project kicks off means you can align on the exact scope and budget from the beginning. So, you reduce the risk of scope creep, overspending, and overservicing—helping your projects stay profitable.

Manage projects from quote to cash with Scoro

Let’s say you work at a marketing agency completing a website redesign for a client. 

A very basic project plan might look like: 

Scope: 

• Scope includes: New website layout, new homepage, 10 subpages; new templates for feature pages, blog posts, the blog homepage, and product pages 
• Scope doesn’t include: Blog content, copywriting for any pages beyond the homepage and 10 subpages, and product images 

Objectives: 

• Implement the company’s revamped brand design and messaging across the site
• Increases homepage conversions by 2% 
• Increase page speed by 15% to deliver a more seamless user experience 

Deliverables: 

• New website homepage 
• About Us page 
• Contact Page
• Features Page
• Pricing Page

(And so on)

• Features page template 
• Blog homepage template 
• Product page templates
• Blog post template

Tasks: 

• Create wireframes for homepage layouts 
• Implement new color scheme and fonts 
• Design homepage header image
• Write copy for homepage

(And so on) 

Timeline: 

• September 10th: Design team check-in meeting 
• September 15th: Submit wireframe homepage layouts for review
• September 17th: Submit homepage header image for review

Budget and Resources: 

• Internal Labor costs: $12,000 
• Internal team members: Designers (two), Developers (two), Project Manager (one), Copywriter (one) 
• Freelance labor costs: $1,200 
• Software costs: Figma, Webflow, Adobe Suite ($200) 

Communication: 

• Point of contact(s): John Smith, Marketing Manager
• One-hour Zoom call: Last Thursday of each month, 2:00 p.m.
• Weekly email updates to clients on Fridays

Now, here’s how to create a project plan of your own in nine simple steps:

1. Confirm the project scope 

Getting clarity on the project scope from the beginning allows you and your client to align on expectations. This will help avoid frustration on both ends down the road. 

Solidify the project scope asynchronously through email or Slack. Or review it live on a Zoom call. 

Even if your initial quote isn’t super detailed, you and your client should walk away from your scope review with a clear understanding of what is and isn’t included.

Say you listed a “Discovery” phase and quoted 30 hours. Explain to your client what work will actually go into completing that phase—and what work will be considered “extra” or out of scope.

Since the client has already seen the quote, there shouldn’t be too many adjustments here. But it’s better to double-check the scope now. 

Otherwise, you’ll either end up overservicing (and cutting into your margins ) or missing work that your client assumed was included. 

2. Define project phases or services 

Once you’ve re-run the scope by your client, break it into defined phases (if you haven’t already done so). 

This makes it easier to outline the project timeline, deliverables, and tasks. 

Common project phases include:

• Ideation 
• Discovery 
• Design 
• Development

For service-based projects, clearly define each service (e.g., brand strategy, content creation) included in the scope. 

3. Create a Work Breakdown Structure (WBS)

A Work Breakdown Structure (WBS) is a hierarchical representation of all the work necessary to execute the project.

A WBS goes beyond the project scope and phases, listing out key deliverables and individual tasks.

With a clear WBS, you make sure all key steps and team assignments are covered.

And, with a clear view of everything required to finish the project, it’s easier to create a timeline and finalize your budget. 

After you list all the tasks needed to complete the project, group related tasks into different “work packages” under the relevant phase or deliverable.

For example, tasks such as “outline web content,” “write web content,” and “add content to the CMS” might all fall under the “Web Content” work package:

• Outline web content
• Write web content
• Add content to CMS

Even if you have a simple project and don’t feel the need to use a traditional WBS, you and your team will still benefit from organizing tasks and deliverables in a project management tool .

For example, Scoro let’s you structure your quotes into phases with the use of sub-headings. Check out our guide to creating profitable quotes to learn more.

4. Estimate the time and resources needed for the work

Whether you use a WBS or a less granular approach, you’ll need to estimate the time each phase, deliverable, or task will take. And how many people you’ll need for each of them.

So you can establish a realistic timeline that aligns with your team’s capacity and labor budget. 

If you develop your timeline based on guesswork, you’re likely to overpromise to clients and end up with rushed deliverables or missed deadlines.

By estimating the time needed for each task or deliverable in advance, you can also accurately understand your labor costs. 

Start by verifying resource requirements based on the initial project cost estimates in the approved scope. 

What roles are needed to complete the work? 

For example, you might decide based on the deliverables that you will need: 

• 100 hours of design work
• 50 hours of copywriting work 
• 20 hours of project management 
• 150 hours of development 

Next, look at your team’s upcoming calendars and see who’s available in those roles to take on the work. 

If you don’t have enough internal bandwidth, you can adjust your timeline (in the next step) or make proactive plans to outsource certain deliverables.

In Scoro, you can do this directly from the “Bookings” tab in when viewing any project.

If you’ve set up a quote in Scoro, you can see tentative resource bookings by turning the quote into a project and heading to the “Bookings” tab. 

You’ll then see resource requirements (your team’s time) based on the deliverables and roles set in the quote. 

All bookings (purple slash boxes) are tentative until you confirm them. You’ll see tentative bookings assigned to Placeholder roles based on your Quote. 

For example, 50 hours have been assigned to the Project Manager and 30 hours to a Strategy Expert. 

By default, those hours are spread out over the project’s duration. If you know that work will happen during a specific project phase, you can click and drag the end of the booking to adjust when the work will take place. 

The green bars show the combined capacity of all team members within that role. 

So, in this example, booking a Project Manager for 2 hours per day puts your PM team at 25% capacity early in the project but 50% capacity in the middle. 

Knowing this, you may need to adjust the project timelines to suit your team’s availability or split work between multiple team members to avoid overloading any one team member. 

5. Develop a project timeline

Now, take the deliverables and hours you just outlined and convert them into a clear project schedule . 

Without one, you’ll likely encounter resource conflicts that force your team to scramble, resulting in lower-quality deliverables and unhappy team members and clients.

Instead, define deliverable and task deadlines in advance and make sure they fit in well with existing workloads. 

You can do this manually by taking all your tasks and deliverables and adding them individually to a project management timeline . 

As you add them, include: 

• The task due date
• How long each task should take 
• When the task can be started (i.e., identify any task dependencies) 

Or you can speed things up with Scoro’s Gantt chart . 

When you convert quotes to projects in Scoro, it automatically adds all your listed phases, milestones, and deliverables into a Gantt chart in the “Project” view. 

To access it, click on any project and go to “Tasks” > “Gantt.”

Now, click “Name” and one of the three drop-down buttons to add any additional tasks, phases, or milestones, respectively. 

After you name a new entry, click the gray time column to set its estimated duration and click “Save.” Then, drag and drop it onto the chart wherever you need it. 

After you add everything to the chart, review it to make sure the timeline is feasible. And 

All deliverables and tasks fit within the assigned phases and estimated scope. 

If not, adjust the estimated timelines for bigger milestones and deliverables. Then, communicate any changes to the client well before the project kicks off.   

6. Assign team members to tasks based on skills and availability

Earlier, you determined which roles you needed and how many of them. Now, choose which specific team members you want to fill in those spots. And assign them day-to-day tasks. 

This proactive resource planning and resource scheduling helps you:

• Make sure all the key project parts are covered, preventing potential delays down the road from resource shortages
• Maintain balanced workloads on your team so they can be productive but aren’t overwhelmed or burnt out 
• Keep labor costs within or under budget

Many people manage these areas manually by cross-referencing individual calendars and messaging team members about their availability. 

But that approach is difficult to implement at scale. And it creates opportunities for errors, leading to unbalanced workloads and project delays. 

Instead, Scoro’s “Gantt” chart and “Planner” give you a centralized overview of everyone’s schedules.

So, you can quickly (and confidently) figure out who can take on which tasks and when. 

The “Gantt” chart is best for flexible planning. Whether the project is scoped out into bigger pieces or you just want to give your team more control over their week, use it to assign deliverables to complete within a specific timeframe. 

Go to “Projects” → “Tasks” → “Gantt” and look for unassigned project pieces that have a blank icon in the “Assignee” column. 

Click on that icon to open your team list. Now, hover over their respective profile pictures to see their available capacity (which Scoro automatically calculates). 

For example, the web development task above is estimated to take 120 hours. Kevin Harris has 135 hours available during that time frame, so he should be able to take on that task without any conflicts. 

To give Kevin the work, you would click on his name and hit “Assign.” And then repeat across the other tasks.

If you prefer more granular work planning for your team, go to the “Planner” view.

On the left sidebar, you’ll see all unassigned tasks across projects.

On the right, you’ll see your team members’ workloads on a daily, weekly, or monthly basis. 

To only see a specific project, select it from the “All Projects” dropdown.

You can also see:

• How full their schedules already are (the blue bar around their profile picture)
• Their current booked capacity (the percentage beneath their profile picture)
• Their remaining capacity (the hours listed in gray beneath their profile picture) 

To assign work, drag and drop the task card onto the day you want the work to be performed. Then, you’ll see the “Plan time” box that gives you three options for how to schedule the time: 

• Fill: Lets you fit the task into one day on the team member’s existing schedule
• Distribute: Lets you spread the task over multiple days
• Squeeze : Lets you push other tasks back to prioritize this one

7. Finalize your budget and cost-tracking system

Now that you’ve established your timeline, team, and tasks, review the project cost estimates from your initial quote to ensure that you’re still within budget.

Adjust your project budget accordingly so it’s as accurate as possible before you get started. 

For example, if your labor costs are too high, go back to your Gantt chart or Planner and assign some of the tasks to team members with a lower labor cost. This precise financial foundation will help you avoid overspending and cutting into your margins during the project.

You’ll also need to track actual costs against estimated costs. This will help you monitor spending, identify potential overruns early, and take corrective action to avoid reducing profits. 

The quote you created in Scoro can serve as your baseline budget, providing a clear starting point for cost tracking.

You can then use the “Budget health” chart for each project to monitor your spending.

This chart provides a visual snapshot of your project’s financial health, enabling you to monitor progress and make informed decisions.

It tracks key metrics such as:

• Profit & Profit Margin: Shows your projected profit and profit margin, giving you a clear picture of your project’s financial performance.
• Budget vs. Actuals: Compares your initial budget to your actual spending, highlighting any areas where you might be over or under budget.
• Forecast: Predicts your future spending based on current trends, allowing you to anticipate potential overruns and adjust your strategy accordingly.

You can find it by going to the “Budget” tab, and then clicking on the “Budget health” tab.

Under the “Budget health” chart, you’ll also find a breakdown of services showing the budgeted costs, actual costs, and forecasted costs for each specific service included in the project.

This breakdown provides a more granular view of your spending, allowing you to identify which services are contributing most to the overall cost and whether any are exceeding their allocated budgets.

8. Create a client communications and reporting strategy 

Define how, when, and where to communicate project updates to your clients. 

When the client knows they’ll get regular updates—and knows where to find them—you build greater transparency and trust. And you can all stay on the same page and proactively work together to address any issues. 

Also, knowing the plan for communicating updates, requesting feedback, and reporting saves your team time—no more messaging each other to figure out who should contact clients (and when).

Consider discussing: 

• How often you’ll provide updates: Weekly tends to make sense for retainers, big projects with lots of moving pieces, and projects that require consistent client feedback. Otherwise, bi-weekly or monthly updates are usually enough to keep clients in the loop on important milestones. 
• Which channels to use: Slack, Microsoft Teams, email, Zoom—different clients have different preferences. 

You can also use Scoro’s “Customer Portal” to streamline client communications by giving them an access-based, shared workspace with you and your team. 

To set it up, go to “Settings” → “Customer Portal” → “Add new user.” Then, select their access level using the “Role” button (you can adjust access settings in the portal’s “Roles and Permissions” section).

Then, click “Save and send invitation.” 

Once the client accepts, they’ll be able to see a version of their project dashboard based on their access level. 

At a minimum, client dashboards usually include:

• Project progress
• A Gantt chart
• Planned and completed tasks
• Budget info

Clients can click on an individual task to see the files and work associated with it. If they need to review something, your team can tag them in a comment right on the respective task.

From there, they can review the file and leave feedback—all neatly organized within your Scoro dashboard. 

This way, everyone has access to the same information, work moves forward faster, and important communication and details are kept in the loop. 

9. Set up project monitoring processes

Once you have all the key project details laid out, define how you’ll monitor and measure project progress and success. And schedule regular project update meetings with your team to review your progress. 

This includes: 

• Establishing project KPIs and metrics 
• Determining how you’ll track task progress 
• Setting up regular (at least monthly) budget reviews 

All these tactics create more opportunities to identify and discuss any challenges. And to make necessary adjustments to your project before it gets off track. This will help you improve your profitability by avoiding overspending and overservicing. 

It’ll also help you deliver more on-time projects because you can proactively identify when project phases or tasks are falling behind schedule. And quickly get to the root causes and take corrective action. Like adjusting resources, reducing scope creep, or addressing skills gaps. 

Scoro’s “Gantt” tab makes it simple to monitor project progress in real-time. 

The vertical red line shows today’s date. So, you can quickly see if you’re on or off track with project progress. Any tasks that are grayed out are completed. 

For more details on in-progress tasks or phases, hover over the bar to see how many hours are estimated, completed, and overscheduled. 

Use this data to spot overservicing issues or backlogs. And connect with your team before delays start to impact deliveries and your profitability. 

To keep an eye on KPIs and financial progress, go to “Budget” → “Quoted vs. Actual.” 

Here, you can see how profitable each project phase has been, how long your team spent on each task, and how you’re progressing in comparison to your initial quoted estimates. 

The “Progress” bar uses blue for completed tasks and yellow for scheduled tasks, giving you a visual glance at how you’re progressing in each phase. 

Then, look at the “Quantity” column” to get details on the time spent, “Cost” and “Bills and Expenses” to see internal and external costs, and “Profit” to see your margins. 

This helps you see if you need to make adjustments to staffing, spending, or timelines to meet your financial and delivery goals. 

Creating a project plan gives you a concrete roadmap that aligns everyone—your team, clients, and other key stakeholders—on what needs to happen to deliver a successful project.

Scoro’s custom dashboards make it even easier to measure success by tracking the KPIs that matter most to you and your unique clients. Choose from a variety of different widgets and metrics to create an easy-to-read home base that keeps everyone on the same page in real time. 

Ad Esse Consulting reaped the benefits of these adjustable dashboards, with Director Rhiannon Gibbs noting that the agency successfully shifted its focus “towards project execution and achieving outcomes.”

Scoro makes planning, monitoring, tracking, and communicating about your projects easy. Sign up for a free trial now and see for yourself.

Rachel Bicha is a content writer and strategist for tech, SaaS, and travel companies. With 6+ years of experience managing content for brands of all sizes, from global enterprises to small startups, she knows how to create results-oriented content that ranks and resonates with readers.

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Office Consulting Business Plan

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Office Space Solutions

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.">.

Office Space Solutions improves businesses. Specializing in high-growth companies, it sets up, restructures and streamlines paper flow, communication and office systems.  This includes assessments of office space organization and office process flow. The result is a complete turnaround including increased efficiency, reduced costs, greater income, and happier people.

Office Space Solutions has two strong competitive advantages. The first is extensive experience in office space management and work flow efficiency. Bev Johnson, the owner, spent the previous 10 years working with three start-up companies that grew rapidly. With each company, it was her responsibility to manage the personnel growth while improving employee productivity. This experience was priceless. Additionally, the value of networking based on Bev’s previous industry relationships will give Office Space Solutions a leg up on the competition.

1.1 Mission

Office Space Solutions’s mission is to provide the highest quality support services for its clients. Bev focus is to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Her services will exceed the expectations of her customers.

1.2 Keys to Success

The objectives for the first three years of operation include:

• To create a service-based company whose primary goal is to exceed customers’ expectations.
• To increase the number of clients served by 20% per year through superior performance.
• To develop a sustainable start-up business that is profitable.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Office Space Solutions offers management support services to start-up and growing firms and companies. Bev sets up, restructures, and streamlines office space, paper flow, communication and office systems.  Her work reduces office operation cost while increasing work efficiency and revenue for her clients.

2.1 Start-up Summary

Office Space Solutions has the following start-up expenses:

• Computer system with a printer, CD-RW, Microsoft Office, and Microsoft Access.
• Copier, fax, and one phone line.
• Website development.
• Various office supplies.

2.2 Company Ownership

Bev Johnson is the sole owner and consultant of Office Space Solutions. Office Space Solutions is a home-based business.  All business meetings will occur at the client’s business or at a location close to the client’s business.

• Planning, setting up, or improving office procedures, including simplifying paper flow, minimizing wasted time and maximizing access to needed materials.
• Controlling costs and minimizing expenses with improved office efficiency and improved office methods.
• Managing office relocations including vendor negotiations and problem solving.

Market Analysis Summary how to do a market analysis for your business plan.">

Office Space Solutions will be focusing on a very specific part of the business market:

• Start-up with more than five employees.
• Small businesses that are rapidly expanding operations.

The city has several support service businesses but none as visible as Office Space Solutions and none with the success record Bev Johnson has. 

4.1 Target Market Segment Strategy

Office Space Solutions is focusing on new and growing companies that are often located in small offices. The targeted start-up business will have four or more staff in its office in addition to a owner. This is a perfect atmosphere for a support service because the services Office Space Solutions provides are out of the business’s field of expertise but so critical to their success.

Another reason for focusing on a growing businesses is that it is easier to be competitive with the smaller businesses. Presently, this segment of businesses is not being marketed by the Office Space Solutions’s competitors.

For these reasons, Office Space Solutions will concentrate on the new and growing companies to be able to quickly grab market share.

4.2 Service Business Analysis

The competition consists of a few support service firms that offer a wide range of service offerings to city’s large companies. Though these firms replicate the offerings of Office Space Solutions, they are not targeting the vital area of new and growing businesses. Office Space Solutions will focus only on these companies.  There is an advantage to hiring a service that is focused on your problems and is knowledgeable regarding your specific needs.

In addition, the target clients are prone to want a long-term relationship with critical services. If they are happy they will generally stay with the same service provider. It is more cost effective then jumping through the hoops each time it needs a space management, or work flow assessment.

4.3 Market Segmentation

The market for office space and work flow organizers can be broken down into two important segments:

• Start-ups with five or more employees . These start-ups rarely have the in-house expertise to solve office space or work flow management problems.  As a general role, there is a tremendous amount of wasted effort and space in start-ups.  The focus is always on getting a product or service out to customers with very little thought about how the office organization is working against them. The city is growing at a rate of 10% annually and the numbers of start-ups increase each year in all the city’s major industries and service areas. Office Space Solutions believes that this is an underserved segment and with her successes and connections, Office Space Solutions would become an invaluable service to these target clients. As these companies move from the start-up phase to the growth phase, Office Space Solutions will receive this repeat business.
• Small rapidly growing companies . These companies have already reached some margin of success and are planning to expand their operations; yet this doesn’t mean that they are efficient. The success of their product or service may be hiding problems in the operation that will emerge as greater pressure is placed on company performance.  Each stage of growth in a company, present challenges that can hurt its performance and success. Office Space Solutions can provide these companies a focused approach that is responsive to unique client demands, assisting them in achieving their future sales goals.

Strategy and Implementation Summary

Office Space Solutions will sustain its competitive advantages to steadily gain market share. The first advantage is based on extensive knowledge of office space management and work flow efficiency. The second advantage is an already established network of contacts among numerous start-ups and growing companies.

5.1 Competitive Edge

Bev has been giving many presentations on space and process management for professional women’s groups and the city’s Chamber of Commerce.

Bev also has the unique track record of being pivotal in the success of three start-ups over the past ten years.  In each of these cases, she was hired away from her previous employer because of her success in transforming the office environment from a chaotic shamble into a productive oasis.

5.2 Sales Strategy

Office Space Solutions’ sales strategy will be based on systematic person to person contacts with new and growing businesses. Bev has already compiled a list of referrals that will serve as the launching pad.

5.2.1 Sales Forecast

The following table and chart give a run-down on forecasted sales. As a consulting firm there are negligible cost of sales, and Bev’s salary is included in the Personnel table.

5.3 Milestones

Office Space Solutions will have several milestones early on:

• Office set up.
• Exceed $50,000 in sales the first year.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

Bev Johnson, founder and owner, received her Bachelor Degree in business management from Willamette University. During her undergraduate studies, Bev created her own support staff company, including typing students term papers. This was quite lucrative because there were a lot of students at Willamette that were unwilling to do their own typing and they were much more content paying someone else.

After college, Bev worked in a number of office settings developing her skill in cutting waste and inefficiency in the office.  She received her first office manager position with Renco, a high-tech start-up that grew from 15 people to over 59 employees in three years.  Her next position was with office coordinator for Carter Technology.  During her time there, the staff grew from 30 people to 89 employee in three years.  Her last position before starting Office Space Solutions was with Steward Consulting.  This company grew from 45 employee to over 258 staff members in four years.

Toward the end of her tenure with Steward Consulting she was getting a bit restless. She was looking for a new challenge, something she could do all on her own. One day the idea dawned on her that she could leverage her  knowledge of office efficiency into a new business.

Financial Plan investor-ready personnel plan .">

The following sections will outline the important financial assumptions, key financial indicators, break-even analysis, profit and loss, cash flow, and the balance sheet.

7.1 Important Assumptions

The following table highlights some of the important financial assumptions for Office Space Solutions.

7.2 Break-even Analysis

The Break-even Analysis table and chart below indicate the monthly revenue needed to break even.

7.3 Projected Profit and Loss

The following table will indicate projected profit and loss.

7.4 Projected Cash Flow

The following chart and table indicates projected cash flow.

7.5 Projected Balance Sheet

The following table indicates the projected balance sheet.

7.6 Business Ratios

The following table outlines some of the more important ratios from the Management Consulting Services industry. The final column, Industry Profile, details specific ratios based on the industry as it is classified by the NAICS code, 541618.

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