My Business In In Growth Mode: Do I Need A Business Planning Consultant?

If your business is in growth mode, or just on the edge of getting there, you will want to consider using the services of a business planning consultant. A “growth mode” is considered to be an unusual and possibly, unanticipated, time of fast action and scaling of your organization. It requires a response to match; however, typically, that response is hard to configure. After all, it’s all new territory. 

Keep reading this blog till the end to learn about why you might need a business planning consultant and more…

Why Do You Need A Business Planning Consultant?

A business planning consultant will assist in strategic planning to move your business from short-term survival mode into steps of action to both contain and continue scaling your organizational growth. In short, “planning, preparing, and succeeding” is the best phrase to use for the actions and results of business planning consultants.

If you’ve never considered using a business planning consultant, you may be surprised by the extent to which their services extend. In addition to strategically bringing a business up to the next level and pursuing models to continue that growth, a business planning consultant looks ahead at long-term growth opportunities, such as creating industry alliances, building collaboration, and creating new spin-off models; all of this is conducted while performing research to prepare analytics and build further tactics for growth.

The most critical reason to include a business planning consultant in strategizing your next moves is not as much predicated by the number of hours that person will surely clock, but on the salient fact that you, as a primary stakeholder or owner of the business, do not have time or energy to devote to the business plan creation that needs to be done. The role of the consultant is not an inexpensive one; however, it serves the business well when the growth mode is maximized and extended into long-term growth and investment in the future.

What Is Included In The Process Of Business Planning? 

The creation of a business plan prepared by a qualified business planning consultant is a multi-step process, culminating in the final document. This is now ready to be presented as a viable option for lenders or investors, as it contains everything necessary for the business to be examined and a determination of funding made. Typically 75 to 100 pages in length, the business plan is extensive and much of the overview of it, including the executive summary, fully explains and defends the initial steps of the business, even as it outlines progress toward a larger future with an organizational map at hand. A brief outline of a typical business plan follows:

1. Assess the target audience
2. Analyze the competition
3. Prepare a financial plan and forecast
4. Set an operational chart
5. Plan marketing strategies
6. Create the executive summary

Things To Keep In Mind While Planning A Business! 

Whether or not your business includes other components is to be considered; however, this skeletal list will give you an idea of the depth a business plan reaches. It is a qualitative and quantitative document, with every fact, milestone, and outstanding feature included. Again, the question that remains is whether the business will attempt to pull together such a document, or if a business planning consultant group may be employed to conduct the research, solidify the plan, create a long look forward, and prepare the final document for presentation.

If your business is considering expansion with the assistance of funding, it will be especially helpful to compare and contrast the optimization of that process with a business planning consultant. There are pitfalls and problems within the process, fairly unknown to most key players in growth mode, and this is where additional advice and forethought can be especially helpful. Lenders will want to offer large loans; in fact, they’ll have no problem doing so, based on the financials and after observing the scaling of the organization. The negative side to this option is that such funding will need to be repaid with interest and on a set schedule of repayment. Often, for large sums, a down payment is also required.

Investors usually want to fund a business in growth mode and will be waiting for a comprehensive business plan. A business planning consultant will offer advice regarding any proposal submitted by an investor. Typically, an investor will not be interested in repayment of funding; however, the investor will want to take a percentage of ownership in the business on a permanent basis. Some investors will want up to 15%, depending on interest levels in the business. Both loans and investments need to be carefully considered before accepting offers.

It is both exciting and challenging to oversee a business in growth mode. Long-term success is just ahead with careful planning, creative tactics, strategic moves, and the addition of a well-executed business plan.

Additional Reading:

• Top 7 Small Business Management Tips For Entrepreneurs
• 4 Proven Ways to Improve Your Freelance Business
• 4 Tips For Small Business Owners That Can Help Boost Revenue