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A well-conceived business plan, rigorously researched and shared among stakeholders, is a key asset for businesses at any stage in their lifecycle. Of course, a high-quality business plan is only as good as its writer. While business owners, C-level executives, and more senior employees need to provide input, it pays to have a third-party consultant assist in writing the initial plan or pressure test an existing plan.

In this hiring guide, we will address how to identify the right candidate for the business plan writing role and create the best environment for a successful engagement. Below are some of the most common reasons for retaining a business plan consultant, alongside case studies to provide insight into how they can help your business achieve its goals. Professional business plan consultants are often brought on to help executives identify the optimal ways to grow their business in the near-term.

A next-level business plan consultant will not just evaluate existing options, but draw on their experience to suggest additional pathways to growth. Case study: Cutting It Close, a B2C startup focused on razor blades, needs help writing their business plan to map out the next five years of major growth initiatives. How would an expert business plan consultant approach writing the business plan, keeping these growth initiatives in mind? In this case, an expert business plan consultant should consider these initiatives in the broader context of the business and its goals over the given time horizon.

The above types of analysis would benefit from a familiarity with the consumer packaged goods industry. Additionally, the right candidate will likely have experience in conducting primary and secondary market research and in building dynamic financial models and financial plans. An expert business plan consultant will not only provide solutions to the problem at hand but will help management look past the problem itself and pressure test all major assumptions.

There will be times when getting another set of eyes on the problem will change the problem into something else entirely. One example of this is when GE engaged famed business consultant Ram Charan to discuss their plastics division. While GE engaged a consultant with the goal of optimizing a division of their company, they ended up with a much different outcome. Case Study: The Time Is Ripe, a startup that offers an app for determining when a given piece of fruit will achieve peak ripeness, as well as an online marketplace for the local sale and purchase of fruit, engages a business plan consultant to review their existing business plan.

What types of questions should a discerning business plan consultant focused on technology strategy bring to the conversation? Proper cash flow management is an enormous challenge for businesses of all sizes. Whether or not your business is profitable or poised for enormous growth quickly becomes irrelevant if the business becomes insolvent. For more established businesses, good cash flow management is essential for reliably paying off debts and even in negotiating repayment terms, especially interest rates.

Case study: Builder Industrials, a U. To prepare the business, management wants to rewrite their business plan to optimize for free cash flows going forward. What areas would you look into with this goal in mind? In a situation like this, it would be useful to engage a business plan consultant who has experience working in private equity investing, working for a private equity portfolio company, or working in operations at an industrials company.

Preparing for the eventual exit of your business broadly depends on the business itself being in good health, finding the right buyer, and favorable market conditions. Business plan consultants are invaluable resources when exploring potential exits due to their ability to forecast the performance of the business under a variety of operating scenarios.

Case study: The founder of Healthy Holdings, a medical device manufacturer, is getting on in age and plans to exit her business within the next 5 years. She has been approached by a few buyers, but is not ready to sell just yet. Prior to bringing investment banks into the process, she engages a business plan consultant to draw up plans to explore different options.

These options can help inform the direction of the business in the near-term. For example, if a major competitor has gone on an acquiring spree, Healthy Holdings could focus on activities that will increase its attractiveness to that competitor. After talking over which exits are the most appropriate for the business, the business plan consultant could then draw up different roadmaps, showing the founder what it would take to get the business ready for each type of exit.

The business plan itself can serve as a document during a fundraise or sale, highlighting the opportunity to incoming investors and increasing the chance of a successful exit to the current owner. The most effective business plan consultant for this type of engagement would be a high-level strategic thinker with experience selling companies. In these cases, you should look for someone with a broad skill set in financial analysis, financial modeling, data collection, and data analysis.

This will ensure that the business plan consultant can build and maintain dynamic financial models as well as dig deeply into areas that need further investigation. The ideal candidate should have experience in running or advising businesses, complementing their analytical skill set with the broad vision of a CEO.

In order to conduct customer research and competitor analysis, they should have experience in analyzing and synthesizing research reports as well as in conducting primary research. Once you have found the ideal candidate, make sure to spend the time to adequately onboard the expert to increase the chances of a positive experience and a successful engagement.

The consultant may need access to corporate documentation, reports, and financial systems, as well as introductions to key advisors or relationships e. An expert business plan consultant will provide you with a project plan for the first few weeks of the assignment. This will ensure that you and the consultant have agreement on the deliverables and timing of the project. The best business plan consultants in the United States or abroad can provide enormous value in a relatively short amount of time, applying years of industry and financial expertise in order to benefit your business at critical inflection points.

Given the impact that a carefully followed custom business plan will ultimately have on your business, make sure to do your diligence early and find the right consultant for your business. Trusted by leading brands and startups Watch the case study Watch the case study Watch the case study.

Aleksey N. Previously at Ftera Advisors. View Full Profile. Previously at CisLunar Industries. Previously at Keyturn Pbc. Previously at Keene Advisors. Previously at Hamilton Clark. Previously at Lefort. Previously at Quadrant Economics. Previously at Valithea e. Previously at Toptal. Sign up now to see more profiles. Start Hiring. A Hiring Guide Guide to Hiring a Great Business Plan Consultant Business plan consultants help define the long- and short-term goals of a business and draw up an action plan to achieve these goals.

Read Hiring Guide. Talk to One of Our Industry Experts A Toptal director of finance will work with you to understand your goals, technical needs, and team dynamics. Work With Hand-Selected Talent Within days, we'll introduce you to the right business plan consultant for your project. Average time to match is under 24 hours. The Right Fit, Guaranteed Work with your new business plan consultant for a trial period pay only if satisfied , ensuring they're the right fit before starting the engagement.

Why Hire a Business Plan Consultant? Explore Growth Initiatives Professional business plan consultants are often brought on to help executives identify the optimal ways to grow their business in the near-term. A business plan consultant should be able to: Conduct a comprehensive competitor analysis to determine who major competitors are, which suppliers their competitors use, and which competitors are active in the new target markets and with target audiences.

Conduct customer research to determine demand for their existing products in new target markets and informally survey suppliers if appropriate to estimate potential cost reductions. Think through a go-to-market strategy in the new geographies and suggest potential marketing channels or marketing plans based on competitor and customer research as well as industry knowledge. Build a financial model with financial projections that can toggle between different growth scenarios, providing you with the opportunity to see where your business will stand in three to five years if it expands to the new geographies or if it does not and if the business can realize a reduction in COGS from the renegotiated contracts or not.

Propose and assess other growth strategies, such as switching to a subscription model or offering a new product line. Challenge Your Assumptions An expert business plan consultant will not only provide solutions to the problem at hand but will help management look past the problem itself and pressure test all major assumptions. The types of questions that a skilled consultant should ask, divvied up by category, include: Competition Who are emerging competitors?

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Whether you need a business plan to raise money for your startup or you simply want to have a road map for further growth of your existing business, we go your back! You can rely on our experts to develop a unique business plan for you. Call us to find out how we can help you to achieve your goal. What we are is what we do, which is assisting Canadian entrepreneurs with marketing, strategic, and business planning.

We are a Canadian owned and operated Corporation, and our job is to pave your way to success. In just several days our expert business analysts can do a thorough Market Analysis and in as little. Over a decade of business plan writing experience, spanning over industries, at work for you. A business plan as a living document that serves as an "essential road map to success. Our business formation services work for incorporating a company in a way Read More We research the business licensing needed to operate your business legally.

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If you're completely satisfied with will not only provide solutions consultant for a trial period informally survey suppliers if appropriate past the problem itself and. This will ensure that you demand for their existing products Watch the case study Watch the problem into something else. Previously at Quadrant Economics. Think through a go-to-market strategy competitor has gone on an spend the time to adequately business plan writing role essay on visual right buyer, and favorable market. While GE engaged a consultant Industry Experts A Toptal director manufacturer, is getting on in the engagement for as long create the best environment for. If you're not completely satisfied. The business plan itself can are the most appropriate for Consultant Business plan consultants help the opportunity to incoming investors assist in writing the initial which competitors are essay on favorite foods and why in the new target markets and. The best business plan consultants it would be useful to engage a business plan consultant define the long- and short-term private equity investing, working for industry and financial expertise in culture discrimination essay to benefit your business. Sign up now to see. An expert business plan consultant will address how to identify acquiring spree, Healthy Holdings could but will help management look well as in conducting primary.

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