What to Look for in a Business Planning Consultant – Part 1

The business of planning is similar to the life of Don Quixote, the Spanish knight best remembered for charging windmills. There will be many windmills out there and you need to be certain you are not charging one, sometimes they really do resemble the enemy.

Let us paint a common picture – you have the best idea in the World, need financial assistance to get it going but have no idea how to compile a business plan. What next? While talking to your friends, all of whom have their own opinion of your idea and their personal expert on business establishment, you end up beoming confused and often disheartened. But the idea keeps bugging you, so you go to your banker. He/she tells you that you need a  business plan and, sometimes, gives you forms to complete indicating your current financial state and how much money you think you will need.

Then you decide to look for an Expert – often thought of as a “has-been under pressure”. What are you looking for in such a person? You need somebody who:

  • Will listen to your idea and inform you how business works?
  • Will guide you in discoverning the information you need to properly evaluate your idea as a potential business venture;
  • Will inform you that they cannot guarantee funding but will provide you with the best weapons to be used when sourcing funding; and
  • Will compile your business plan, not their interpretation of it.

Where do you find this kind of animal? If you are reading this on the Net, you are on the right track. Most consultants in this field will advertise their services on the Net, but, it is my opinion that, for best effect, you really need to sit face to face with your consultant. Without this, I feel, the right “chemistry” may be lacking and chemistry I find necessary to understanding.

In my next post I will cover the process I use with a client who needs my services. I hope you have found this helpful and will appreciate your comments, please?

 

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