Start-up | |
Requirements | |
Start-up Expenses | |
Legal | $1,000 |
Stationery etc. | $1,000 |
Brochures | $1,000 |
Insurance | $500 |
Other | $0 |
Total Start-up Expenses | $3,500 |
Start-up Assets | |
Cash Required | $20,000 |
Other Current Assets | $0 |
Long-term Assets | $0 |
Total Assets | $20,000 |
Total Requirements | $23,500 |
MarketCamp will begin as a home-office business in the founder’s apartment in Mexico City. After six months of operation it will expand to a formal office space in Mexico City.
** Details and a description of services have been omitted from this published plan because they were strategic and proprietary.
Competition isn’t the most important factor at this time, there is plenty of need and potential customers out there.
Our website will serve as sales literature.
For the present time, until there is real growth, services will be delivered by the founder.
**Details have been omitted from this published plan because they were strategic and proprietary.
Market analysis summary how to do a market analysis for your business plan.">.
Mexico City’s business community will be the primary market for our company. We will attempt to work with business models that attract customers and sign contracts. The business size can be relatively small because the cost per month is only $1,000, but services can be scaled up to meet the needs of huge clients due to the focus and expertise of the business.
Internet connectivity in Mexico, in comparison with the U.S., is currently low, but interest is growing. Though far behind the major industrial countries, Mexico maintains one of the fastest growth rates on the Internet with thousands of users and thousands of WWW sites. Mexican WWW sites have been growing at the rate of 200-300 per month this year. CompuServe Mexico, the largest commercial Internet service provider in Mexico has 30,000 subscribers, while Spin Internet has 28,000 Mexican members. Microsoft Mexico, a division of Microsoft’s recently-launched online service named Microsoft Network, will charge $4.95 per month (about one half of CompuServe’s $9.95 per month rate) and will offer local telephone access in Mexico City, Guadalajara, Monterrey, and three other cities. The service will be English-only and U.S.-oriented for at least the first six months, but will eventually include local content.
Many companies in Mexico City currently have Internet access and more are realizing the importance of presence on the Web in order to attract international business. For this reason, our Market Analysis table predicts rapid growth amongst potential small businesses and marketing managers for medium-sized businesses to grow in-line with the growth of Internet usage.
We will try to work with other more established marketing companies, giving up some of the margin in order to get access to more clients more quickly.
We will need to make a decision on pricing, whether to keep rates at an attractive sign-up rate or focus on the more successful clients and raise rates.
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Small Business Start-up Entrepreneurs | 100% | 475 | 950 | 1,900 | 3,800 | 7,600 | 100.00% |
Medium Business Marketing Managers | 80% | 684 | 1,231 | 2,216 | 3,989 | 7,180 | 80.00% |
Established Marketing Companies | 20% | 97 | 116 | 139 | 167 | 200 | 19.83% |
Total | 85.84% | 1,256 | 2,297 | 4,255 | 7,956 | 14,980 | 85.84% |
We will obtain our first clients through word-of-mouth from the board of directors and board of advisors as well as the previous connections of Paul Berry’s freelance business. Each mini-site will contain a small “powered by MarketCamp” logo which will lead to information about us. Because of the quality of our work, and the desirability of our expertise, we expect to add a number of clients in the near future.
The beauty of this business is in the subscription model and the commissions based earnings. Once we sign a client, most will stay for a long period of time, possibly for the lifetime of the business. We feel 30% to 60% growth rates are very modest, therefore we could potentially sign many clients more quickly.
We expect that a 30% to 60% growth rate throughout the first year is very modest. If we find more clients signing up we can scale the team quickly to reach those expectations. The back-end of the business will be built by the founder and a network of top programmers.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Sales | |||
Monthly Revenue | $210,550 | $290,000 | $410,000 |
Commission Sales | $86,760 | $130,000 | $200,000 |
Total Sales | $297,310 | $420,000 | $610,000 |
Direct Cost of Sales | Year 1 | Year 2 | Year 3 |
Monthly Revenue | $39,831 | $54,860 | $77,561 |
Commission Sales | $17,352 | $26,000 | $40,000 |
Subtotal Direct Cost of Sales | $57,183 | $80,860 | $117,561 |
The specific milestones are shown in the following chart and table.
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Site Finished, Company Emails Set | 1/1/2001 | 3/1/2001 | $0 | Paul Berry | Founder |
First Client Signs | 4/1/2001 | 4/30/2001 | $0 | Paul Berry | Founder |
Second Client Signs | 4/15/2001 | 5/15/2001 | $0 | Paul Berry | Founder |
Third Client Signs | 5/1/2001 | 6/1/2001 | $0 | Paul Berry | Founder |
Official Investment and Equity Transactions | 6/1/2001 | 8/31/2001 | $0 | Paul Berry | Founder |
10th Client Signs | 8/1/2001 | 10/31/2001 | $0 | Paul Berry | Founder |
Second Marketing Push | 11/1/2001 | 1/31/2001 | $0 | Paul Berry | Founder |
Totals | $0 |
Paul Berry will be president, responsible for decisions on all hires and expenses. Paul will also do the work behind the scenes, structuring a system that will enable other future employees to scale the business as clients are added.
Carlos Silva will be an initial investor, possibly also a co-founder and part of the board of directors.
Gabriela Lopez will be one of the first employees, contracted part-time for her expertise in design and knowledge of the Web.
Raul Garcia will be another of the first employees, contracted part-time for his expertise as a sales person and junior executive in Mexico City.
Paul will be paid somewhere between $3,000 and $5,000 in the initial months, depending on the amount of clients signed, and the nature of those contracts.
Gabriela Lopez will be contracted for $1,000 to $2,000 depending on the load of work and her availability. She will be responsible for the corporate identity and all stationery and brochures.
Raul Garcia will be contracted for $1,000 to $2,000 depending on his involvement with the company and he will also receive a commission structure for additional clients beyond the expected ones.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Paul Berry | $43,000 | $60,000 | $75,000 |
Commission | $17,352 | $26,000 | $40,000 |
Programmers | $19,900 | $27,000 | $43,000 |
Total People | 0 | 0 | 0 |
Total Payroll | $80,252 | $113,000 | $158,000 |
6.3 management team gaps, financial plan investor-ready personnel plan .">.
MarketCamp will finance growth mainly through cash flow. We recognize that this means we will have to grow more slowly than we might like.
The most important factor to our success is collection days. We can’t push our clients hard on collection days, because they are in larger companies and will normally have marketing authority, not financial authority. Therefore, we need to develop a permanent system of receivables financing, using one of the established financial companies in that business.
We are also assuming start-up capital which will be more than enough to cover salaries, artwork and other expenses while the business begins to produce more cash.
We may take more financing than we originally planned to be able to bring in some very key investors as equity partners, more for their connections to potential clients in Mexico City than for the investment itself.
The Financial Plan depends on important assumptions, most of which are shown in the following table as annual assumptions. The monthly assumptions are included in the appendix. From the beginning, we recognize that collection days are critical, but are not a factor we can influence easily. Interest rates, tax rates, and personnel burden are based on conservative assumptions.
Some of the more important underlying assumptions are:
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
Tax Rate | 25.42% | 25.00% | 25.42% |
Other | 0 | 0 | 0 |
The Benchmarks chart shows our projections on an index basis for key financial indicators.
The following chart and table summarize our Break-even Analysis showing fixed costs in U.S. dollars per month at the outset (a bare minimum), and what we need to bill to cover our costs. We don’t really expect to reach break-even until a few months into the business operation.
Break-even Analysis | |
Monthly Revenue Break-even | $17,510 |
Assumptions: | |
Average Percent Variable Cost | 19% |
Estimated Monthly Fixed Cost | $14,142 |
Projected Profit and Loss is presented in the following table and charts.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $297,310 | $420,000 | $610,000 |
Direct Cost of Sales | $57,183 | $80,860 | $117,561 |
Other | $39,581 | $44,000 | $48,000 |
Total Cost of Sales | $96,763 | $124,860 | $165,561 |
Gross Margin | $200,547 | $295,140 | $444,439 |
Gross Margin % | 67.45% | 70.27% | 72.86% |
Expenses | |||
Payroll | $80,252 | $113,000 | $158,000 |
Sales and Marketing and Other Expenses | $41,372 | $48,000 | $61,000 |
Depreciation | $0 | $0 | $0 |
Leased Equipment | $15,832 | $17,000 | $19,000 |
Utilities | $1,800 | $2,000 | $2,000 |
Insurance | $2,400 | $3,000 | $3,000 |
Rent | $12,000 | $24,000 | $26,000 |
Payroll Taxes | $16,050 | $22,600 | $31,600 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $169,707 | $229,600 | $300,600 |
Profit Before Interest and Taxes | $30,840 | $65,540 | $143,839 |
EBITDA | $30,840 | $65,540 | $143,839 |
Interest Expense | $667 | $3,000 | $3,500 |
Taxes Incurred | $7,420 | $15,635 | $35,669 |
Net Profit | $22,753 | $46,905 | $104,669 |
Net Profit/Sales | 7.65% | 11.17% | 17.16% |
Cash flow is going to rely on the time to collect from account receivables. Carlos Silva, Raul Garcia and others who have more experience working with Mexican businesses will be able to help us estimate both the collection and payment times. We are working on an assumption of 30 days to collect. Clients will pay at the beginning of each month except when this is impossible for them.
The present cash flow projection assumes sacrificed salaries taken as equity contribution for the first few months. The inputs for capital input are actually “sweat equity” contributions from the founder.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $0 | $0 | $0 |
Cash from Receivables | $197,360 | $378,754 | $546,126 |
Subtotal Cash from Operations | $197,360 | $378,754 | $546,126 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $20,000 | $40,000 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $14,000 | $0 | $0 |
Subtotal Cash Received | $231,360 | $418,754 | $546,126 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $80,252 | $113,000 | $158,000 |
Bill Payments | $159,263 | $273,759 | $340,161 |
Subtotal Spent on Operations | $239,515 | $386,759 | $498,161 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $20,000 | $10,000 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $239,515 | $406,759 | $508,161 |
Net Cash Flow | ($8,155) | $11,995 | $37,965 |
Cash Balance | $11,845 | $23,840 | $61,805 |
The Balance Sheet in the following table shows managed but sufficient growth of net worth, and a sufficiently healthy financial position. The monthly estimates are included in the appendix.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $11,845 | $23,840 | $61,805 |
Accounts Receivable | $99,950 | $141,196 | $205,070 |
Other Current Assets | $0 | $0 | $0 |
Total Current Assets | $111,795 | $165,036 | $266,875 |
Long-term Assets | |||
Long-term Assets | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 |
Total Assets | $111,795 | $165,036 | $266,875 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $35,041 | $21,378 | $28,548 |
Current Borrowing | $20,000 | $40,000 | $30,000 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $55,041 | $61,378 | $58,548 |
Long-term Liabilities | $0 | $0 | $0 |
Total Liabilities | $55,041 | $61,378 | $58,548 |
Paid-in Capital | $37,500 | $37,500 | $37,500 |
Retained Earnings | ($3,500) | $19,253 | $66,158 |
Earnings | $22,753 | $46,905 | $104,669 |
Total Capital | $56,753 | $103,658 | $208,327 |
Total Liabilities and Capital | $111,795 | $165,036 | $266,875 |
Net Worth | $56,753 | $103,658 | $208,327 |
Business Ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC) code 8742, Management Consulting Services, are shown for comparison.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 41.27% | 45.24% | 8.60% |
Percent of Total Assets | ||||
Accounts Receivable | 89.40% | 85.55% | 76.84% | 24.40% |
Other Current Assets | 0.00% | 0.00% | 0.00% | 46.70% |
Total Current Assets | 100.00% | 100.00% | 100.00% | 74.90% |
Long-term Assets | 0.00% | 0.00% | 0.00% | 25.10% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 49.23% | 37.19% | 21.94% | 42.80% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 17.20% |
Total Liabilities | 49.23% | 37.19% | 21.94% | 60.00% |
Net Worth | 50.77% | 62.81% | 78.06% | 40.00% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 67.45% | 70.27% | 72.86% | 0.00% |
Selling, General & Administrative Expenses | 59.84% | 59.10% | 55.60% | 83.50% |
Advertising Expenses | 1.01% | 1.43% | 2.46% | 1.20% |
Profit Before Interest and Taxes | 10.37% | 15.60% | 23.58% | 2.60% |
Main Ratios | ||||
Current | 2.03 | 2.69 | 4.56 | 1.59 |
Quick | 2.03 | 2.69 | 4.56 | 1.26 |
Total Debt to Total Assets | 49.23% | 37.19% | 21.94% | 60.00% |
Pre-tax Return on Net Worth | 53.17% | 60.33% | 67.36% | 4.40% |
Pre-tax Return on Assets | 26.99% | 37.89% | 52.59% | 10.90% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 7.65% | 11.17% | 17.16% | n.a |
Return on Equity | 40.09% | 45.25% | 50.24% | n.a |
Activity Ratios | ||||
Accounts Receivable Turnover | 2.97 | 2.97 | 2.97 | n.a |
Collection Days | 54 | 105 | 104 | n.a |
Accounts Payable Turnover | 5.55 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 40 | 26 | n.a |
Total Asset Turnover | 2.66 | 2.54 | 2.29 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.97 | 0.59 | 0.28 | n.a |
Current Liab. to Liab. | 1.00 | 1.00 | 1.00 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $56,753 | $103,658 | $208,327 | n.a |
Interest Coverage | 46.26 | 21.85 | 41.10 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.38 | 0.39 | 0.44 | n.a |
Current Debt/Total Assets | 49% | 37% | 22% | n.a |
Acid Test | 0.22 | 0.39 | 1.06 | n.a |
Sales/Net Worth | 5.24 | 4.05 | 2.93 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Paul Berry | 0% | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $5,000 |
Commission | 0% | $50 | $400 | $623 | $911 | $1,019 | $1,559 | $1,163 | $1,163 | $1,703 | $2,547 | $3,035 | $3,179 |
Programmers | 0% | $0 | $0 | $0 | $0 | $1,200 | $1,400 | $1,800 | $2,500 | $3,000 | $3,000 | $3,300 | $3,700 |
Total People | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 0 | 0 | 0 | 0 | 0 | |
Total Payroll | $3,050 | $3,400 | $3,623 | $3,911 | $5,219 | $5,959 | $6,963 | $7,663 | $8,703 | $9,547 | $10,335 | $11,879 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Tax Rate | 30.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $5,250 | $10,000 | $10,650 | $13,890 | $16,230 | $22,530 | $20,050 | $22,450 | $32,250 | $42,470 | $47,710 | $53,830 | |
Direct Cost of Sales | $1,300 | $1,600 | $2,063 | $2,639 | $3,093 | $4,047 | $4,149 | $4,746 | $6,003 | $7,707 | $9,227 | $10,609 | |
Other | 10% | $1,000 | $1,200 | $1,440 | $1,728 | $2,074 | $2,488 | $2,986 | $3,583 | $4,300 | $5,160 | $6,192 | $7,430 |
Total Cost of Sales | $2,300 | $2,800 | $3,503 | $4,367 | $5,166 | $6,536 | $7,135 | $8,329 | $10,303 | $12,867 | $15,418 | $18,039 | |
Gross Margin | $2,950 | $7,200 | $7,147 | $9,523 | $11,064 | $15,994 | $12,915 | $14,121 | $21,947 | $29,603 | $32,292 | $35,791 | |
Gross Margin % | 56.19% | 72.00% | 67.11% | 68.56% | 68.17% | 70.99% | 64.41% | 62.90% | 68.05% | 69.70% | 67.68% | 66.49% | |
Expenses | |||||||||||||
Payroll | $3,050 | $3,400 | $3,623 | $3,911 | $5,219 | $5,959 | $6,963 | $7,663 | $8,703 | $9,547 | $10,335 | $11,879 | |
Sales and Marketing and Other Expenses | $1,000 | $1,175 | $1,393 | $1,663 | $2,001 | $2,422 | $2,950 | $3,610 | $4,439 | $5,481 | $6,792 | $8,445 | |
Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Leased Equipment | 10% | $400 | $480 | $576 | $691 | $829 | $995 | $1,194 | $1,433 | $1,720 | $2,064 | $2,477 | $2,972 |
Utilities | 10% | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 |
Insurance | 10% | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 |
Rent | 10% | $0 | $0 | $0 | $0 | $0 | $0 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
Payroll Taxes | 20% | $610 | $680 | $725 | $782 | $1,044 | $1,192 | $1,393 | $1,533 | $1,741 | $1,909 | $2,067 | $2,376 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $5,410 | $6,085 | $6,666 | $7,398 | $9,443 | $10,919 | $14,850 | $16,589 | $18,953 | $21,351 | $24,021 | $28,022 | |
Profit Before Interest and Taxes | ($2,460) | $1,115 | $481 | $2,125 | $1,621 | $5,076 | ($1,935) | ($2,469) | $2,995 | $8,252 | $8,271 | $7,769 | |
EBITDA | ($2,460) | $1,115 | $481 | $2,125 | $1,621 | $5,076 | ($1,935) | ($2,469) | $2,995 | $8,252 | $8,271 | $7,769 | |
Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $167 | $167 | $167 | $167 | |
Taxes Incurred | ($738) | $279 | $120 | $531 | $405 | $1,269 | ($484) | ($617) | $707 | $2,021 | $2,026 | $1,900 | |
Net Profit | ($1,722) | $836 | $361 | $1,594 | $1,216 | $3,807 | ($1,451) | ($1,851) | $2,121 | $6,064 | $6,078 | $5,701 | |
Net Profit/Sales | -32.80% | 8.36% | 3.39% | 11.48% | 7.49% | 16.90% | -7.24% | -8.25% | 6.58% | 14.28% | 12.74% | 10.59% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Cash from Receivables | $0 | $175 | $5,408 | $10,022 | $10,758 | $13,968 | $16,440 | $22,447 | $20,130 | $22,777 | $32,591 | $42,645 | |
Subtotal Cash from Operations | $0 | $175 | $5,408 | $10,022 | $10,758 | $13,968 | $16,440 | $22,447 | $20,130 | $22,777 | $32,591 | $42,645 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $20,000 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $7,000 | $4,000 | $3,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $7,000 | $4,175 | $8,408 | $10,022 | $10,758 | $13,968 | $16,440 | $22,447 | $40,130 | $22,777 | $32,591 | $42,645 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $3,050 | $3,400 | $3,623 | $3,911 | $5,219 | $5,959 | $6,963 | $7,663 | $8,703 | $9,547 | $10,335 | $11,879 | |
Bill Payments | $131 | $3,983 | $5,794 | $6,724 | $8,432 | $9,894 | $12,823 | $14,608 | $16,798 | $21,607 | $27,007 | $31,462 | |
Subtotal Spent on Operations | $3,181 | $7,383 | $9,417 | $10,635 | $13,651 | $15,853 | $19,786 | $22,271 | $25,501 | $31,154 | $37,342 | $43,341 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $3,181 | $7,383 | $9,417 | $10,635 | $13,651 | $15,853 | $19,786 | $22,271 | $25,501 | $31,154 | $37,342 | $43,341 | |
Net Cash Flow | $3,819 | ($3,208) | ($1,009) | ($613) | ($2,893) | ($1,885) | ($3,346) | $176 | $14,629 | ($8,377) | ($4,751) | ($697) | |
Cash Balance | $23,819 | $20,611 | $19,602 | $18,989 | $16,096 | $14,211 | $10,865 | $11,041 | $25,670 | $17,293 | $12,541 | $11,845 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $20,000 | $23,819 | $20,611 | $19,602 | $18,989 | $16,096 | $14,211 | $10,865 | $11,041 | $25,670 | $17,293 | $12,541 | $11,845 |
Accounts Receivable | $0 | $5,250 | $15,075 | $20,317 | $24,185 | $29,657 | $38,219 | $41,829 | $41,832 | $53,952 | $73,645 | $88,764 | $99,950 |
Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Current Assets | $20,000 | $29,069 | $35,686 | $39,919 | $43,174 | $45,753 | $52,430 | $52,694 | $52,873 | $79,622 | $90,938 | $101,306 | $111,795 |
Long-term Assets | |||||||||||||
Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Assets | $20,000 | $29,069 | $35,686 | $39,919 | $43,174 | $45,753 | $52,430 | $52,694 | $52,873 | $79,622 | $90,938 | $101,306 | $111,795 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $3,791 | $5,572 | $6,444 | $8,105 | $9,469 | $12,339 | $14,053 | $16,084 | $20,712 | $25,964 | $30,254 | $35,041 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $20,000 | $20,000 | $20,000 | $20,000 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $0 | $3,791 | $5,572 | $6,444 | $8,105 | $9,469 | $12,339 | $14,053 | $16,084 | $40,712 | $45,964 | $50,254 | $55,041 |
Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Liabilities | $0 | $3,791 | $5,572 | $6,444 | $8,105 | $9,469 | $12,339 | $14,053 | $16,084 | $40,712 | $45,964 | $50,254 | $55,041 |
Paid-in Capital | $23,500 | $30,500 | $34,500 | $37,500 | $37,500 | $37,500 | $37,500 | $37,500 | $37,500 | $37,500 | $37,500 | $37,500 | $37,500 |
Retained Earnings | ($3,500) | ($3,500) | ($3,500) | ($3,500) | ($3,500) | ($3,500) | ($3,500) | ($3,500) | ($3,500) | ($3,500) | ($3,500) | ($3,500) | ($3,500) |
Earnings | $0 | ($1,722) | ($886) | ($525) | $1,069 | $2,284 | $6,091 | $4,640 | $2,789 | $4,910 | $10,974 | $17,052 | $22,753 |
Total Capital | $20,000 | $25,278 | $30,114 | $33,475 | $35,069 | $36,284 | $40,091 | $38,640 | $36,789 | $38,910 | $44,974 | $51,052 | $56,753 |
Total Liabilities and Capital | $20,000 | $29,069 | $35,686 | $39,919 | $43,174 | $45,753 | $52,430 | $52,694 | $52,873 | $79,622 | $90,938 | $101,306 | $111,795 |
Net Worth | $20,000 | $25,278 | $30,114 | $33,475 | $35,069 | $36,284 | $40,091 | $38,640 | $36,789 | $38,910 | $44,974 | $51,052 | $56,753 |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | |||||||||||||
Monthly Revenue | 40% | $5,000 | $8,000 | $7,535 | $9,335 | $11,135 | $14,735 | $14,235 | $16,635 | $23,735 | $29,735 | $32,535 | $37,935 |
Commission Sales | 50% | $250 | $2,000 | $3,115 | $4,555 | $5,095 | $7,795 | $5,815 | $5,815 | $8,515 | $12,735 | $15,175 | $15,895 |
Total Sales | $5,250 | $10,000 | $10,650 | $13,890 | $16,230 | $22,530 | $20,050 | $22,450 | $32,250 | $42,470 | $47,710 | $53,830 | |
Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Monthly Revenue | $1,250 | $1,200 | $1,440 | $1,728 | $2,074 | $2,488 | $2,986 | $3,583 | $4,300 | $5,160 | $6,192 | $7,430 | |
Commission Sales | $50 | $400 | $623 | $911 | $1,019 | $1,559 | $1,163 | $1,163 | $1,703 | $2,547 | $3,035 | $3,179 | |
Subtotal Direct Cost of Sales | $1,300 | $1,600 | $2,063 | $2,639 | $3,093 | $4,047 | $4,149 | $4,746 | $6,003 | $7,707 | $9,227 | $10,609 |
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Your marketing plan can be the difference between the success and failure of your consulting company. With the right plan, you can gain new clients on an ongoing basis. With the wrong plan, not only will your firm struggle to generate sales, but you will waste valuable time in misguided marketing efforts.
This article will show you how to develop a winning marketing plan for your consulting firm.
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A marketing plan is a document that outlines your consulting marketing strategies and goals. It includes information on who your target audience is, how you will reach them, what you will offer them, and how you will measure your success.
A well-crafted marketing plan can help you achieve the following:
If you need to raise money from investors, a detailed marketing plan will also demonstrate that you have a solid understanding of the market and how your business can succeed in it.
The marketing plan for a consulting business should include the following components:
Target market segments, unique selling proposition (usp), pricing and positioning strategy, distribution strategy, marketing materials, promotions strategy, digital marketing plan, conversion, referral, and retention strategy, financial projections.
Each component will be discussed in detail below.
The executive summary is a brief overview of your marketing plan. It should include the following:
This section should be no more than 2-3 pages long and is generally the last section you will actually write.
Your target market is the group of people you are selling to. In order to create an effective marketing plan, you need to understand who they are and what they want. You need to consider the following:
When selecting your customer base, it is important to choose a group that is large enough to generate significant sales, but small enough that you can reach them effectively.
Your target market should also be a group that you can afford to serve. It is not cost-effective to try and market to everyone. You need to identify a specific group of people that you can focus your efforts.
Once you have identified your target audience, you need to understand their needs and wants. What are they looking for in a consultant? What problem are they trying to solve? What are their biggest concerns? The more you know about your potential customers, the better you can position your business to meet their needs.
Your unique selling proposition (USP) is what makes your company different from the competition. It is what sets you apart and makes people want to do business with you. When developing your USP, you need to consider the following:
Your USP should be something that is relevant to your potential clients. It should be something that they care about and that is important to them.
As an example, FedEx’s initial USP was “When it absolutely, positively has to be there overnight.”
When setting your prices, you need to consider the following:
It is important to price your services appropriately. If you charge too much, you may lose customers. If you charge too little, you may not be able to cover your costs and earn healthy profits. You also need to consider how you want to position your business. Do you want to be seen as a premium consulting service or a more affordable option?
How you distribute your service offerings is important. You need to consider the following:
When developing your marketing plan, you need to consider the types of offers you will make to your potential clients. Will you offer a free consultation? A discount for first-time customers? A package deal?
It is important to create offers that are attractive to your potential customers.
Your marketing materials are the tools you use to promote your business. They should be designed to attract attention and generate interest in your professional services. Some of the most common marketing materials include:
It is important to design your marketing materials in a way that is visually appealing and easy to read. It is critical that your materials match the branding (e.g., premium) you are trying to achieve.
This section should include the mix of marketing activities that will generate interest in your professional services. Some of the most common promotions include:
It is important to consider your target audience when developing your promotions. What type of activities will they find appealing?
In today’s digital age, it is important to have a strong online presence. This includes having a website, establishing a social media presence, doing online advertising, conducting email marketing, and using search engine optimization (SEO) techniques. When developing your digital marketing plan, you need to consider the following:
In order to be successful, you need to have a strategy for converting leads into customers, getting referrals from current customers, and retaining new clients for future consultancy services. When developing your conversion, referral, and retention strategy, you need to consider the following:
When developing your marketing plan, it is important to project your income and expenses for the next year. This will help you determine if your marketing efforts are generating a profit. You should also track your progress over time to see if your marketing plan is effective.
Below are sample marketing plans for consulting firms.
CloudNet offers quality IT consulting services that will help your business grow. We have over 10 years of experience in the industry and our team of experts is ready to help you achieve your goals.
As a leading IT consulting business, CloudNet offers quality services and solutions that will help your business grow. Our team of experts has over 10 years of experience in the industry, and we are dedicated to providing each client with the best possible solution for their needs.
Our pricing strategy is to offer quality services at a fair price, and we are positioning ourselves as a premium IT consulting business. We partner with several local business associations and chambers of commerce, as well as attend trade shows and networking events. We offer a free consultation to any businesses who are interested in our services. We also provide a variety of marketing materials to our potential customers which are available for download on our website and include an overview of our services, case studies, brochures, flyers, presentations, and more.
Outside of our traditional marketing efforts, we also plan to engage in SEO, paid search, social media marketing, and email marketing to help attract new customers as well as retain our existing clientele. All conversions and referrals will be tracked through the use of our CRM in coordination with Google Analytics. In order to be successful, our conversion, referral, and retention strategy will be implemented on an ongoing basis. With an advertising budget of $2,500/month, our financial projections show that we will remain profitable thanks to our marketing efforts.
CloudNet specializes in providing IT consulting services to mid-sized businesses and large enterprises. Our goal is to provide each client with the best possible solution for their needs. We focus on serving IT managers who have limited internal staffing.
CloudNet’s pricing strategy is to offer quality services at a fair price. We believe that our clients should receive the best possible value for their money. We are also positioning ourselves as a premium IT consulting business. This means that we offer the highest quality services and solutions in the industry.
CloudNet’s distribution strategy is to partner with local business associations and chambers of commerce to reach small and mid-sized businesses. We will also be attending trade shows and networking events to reach larger businesses.
CloudNet is currently offering a free consultation to all businesses who are interested in our services. We believe that this is the best way to determine if our services are a good fit for the client’s needs.
CloudNet has a variety of marketing materials available for download on our website. These materials include:
CloudNet is currently running a promotion for all businesses that are interested in our services. We are offering a free consultation to all businesses who are interested in our services.
CloudNet’s digital marketing plan includes the following components:
In order to be successful, CloudNet needs to implement a variety of marketing strategies on an ongoing basis to encourage customers to convert, refer and remain loyal customers. We will be tracking conversions, referrals, and retention through the use of a CRM system. We also have a number of methods for encouraging referrals and retaining customers, including:
In order to remain profitable, CloudNet’s marketing efforts will need to generate an annual revenue of $150,000. Our financial projections show that we will be able to achieve this goal with an advertising budget of $30,000. We anticipate that our largest source of revenue will come from our IT consulting services, which account for 85% of our total sales. The remaining 15% of our sales will come from our other services.
We anticipate that our gross margin will be 50%, which means that we will earn a profit of $75,000 after covering our expenses. We expect to have a net income of $50,000 after paying taxes. This will allow us to maintain a healthy cash flow and increase our equity.
Fund Your Future is a personal finance consulting business that offers a comprehensive suite of services tailored to meet the needs of families with children, single parents, retirees, and college students. We are committed to helping our clients achieve their financial goals, and we believe that our high level of customer service will set us apart from our competition.
Our unique selling proposition is that we offer a comprehensive suite of services that are tailored to meet the needs of our target customer segments. We provide our clients with personalized service, which means that they can rely on us to help them make sound financial decisions. Our pricing and positioning strategy is to offer our services at a competitive price while positioning ourselves as an affordable alternative to larger financial institutions.
We plan to distribute our services through a combination of direct marketing, referrals, and online marketing. We will be attending local events and networking with key influencers in our target customer segments to generate leads. We will also be running a series of radio ads and online ads to promote our services.
Our goal is to earn a total of $120,000 in revenue during the first year of operations. This will allow us to cover our expenses and generate a profit of $25,000.
Fund Your Future is a personal finance consulting business that specializes in helping individuals and families save money and improve their financial situation. Our target customer segments are:
We are committed to helping each and every one of our clients achieve their financial goals.
Our unique selling proposition is that we offer a comprehensive suite of services that are tailored to meet the needs of our potential clients. We provide our clients with personalized service, which means that they can rely on us to help them make sound financial decisions.
Fund Your Future is priced competitively, and we are positioning ourselves as an affordable provider of personal finance consulting services. We believe that our high level of customer service will set us apart from our competition.
Our distribution strategy is to partner with local business associations and chambers of commerce to reach small and mid-sized businesses. We will also be attending trade shows and networking events to reach larger businesses.
We are currently offering a free consultation to all families who are interested in our services. We believe that this is the best way to determine if our services are a good fit for the client’s needs.
We also offer a monthly webinar series geared towards helping retirees, low-income and single-parent families, and college students save money and improve their financial situation. This webinar directly ties in with our unique selling proposition, and we are confident that it will be a valuable resource for our customer segments.
We have a number of marketing materials that we will be using to promote our services, including:
To generate leads, we will be running a series of radio ads and online ads. We will also be distributing promotional materials at local businesses and events.
We are currently in the process of designing a website that will be launched in the near future. The website will be designed to appeal to our target customer segments, and it will include a section where clients can download our brochures and PowerPoint presentation.
We are also in the process of setting up a social media profile on Facebook, Twitter, and LinkedIn. We will use these profiles to promote our services and to connect with potential clients.
In order to increase our conversion rate, we plan to offer a free consultation to all prospective clients. We will also follow up with all of our clients to ensure that they are satisfied with our services and that they would be willing to refer us to their friends and family.
We expect to earn a total of $120,000 in revenue during the first year of operations. This will allow us to cover our expenses and generate a profit of $25,000.
As you can see, there are a number of things that need to be considered when developing a marketing plan for a consulting firm. By taking the time to create a detailed plan, you can be sure that your business will reach its target customer segments and generate a healthy profit.
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When you have spent more than 10 years of your life working that nine-to-five job, you can get to the point where you are tired of the routine. With this in mind, your skills and your experience are your best assets when you want to venture out committing to a consulting gig. However, before you take the leap, you must take your time into making your business plan of your new endeavor. The business plan will not only help you map out the opportunities before you but also the threats.
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Although business plans do not generally appeal to everyone, it can be a critical factor in starting your business on the right foot. The business plan will outline your strategies in order for your business to thrive. Remember that just about anyone who has the right skills and experience can start a consulting gig, you have to make sure you identify yourself differently from your competition. And one way of effectively doing that is through an accurate and comprehensive business plan.
Making a business plan for a business consulting firm is actually pretty straightforward. However, it is also difficult at the same time. This means that when you are making a business plan for business consulting gig or firm, you need to find the areas in which you have to stay focused on. With that, here are the key areas to focus on in a business consulting business plan:
You have to determine and present what makes you different form your other competitors. You have to present what you have to offer that others don’t. Your value proposition is the key factor that will help attract more customers. In order to build a solid value proposition, you have to give decision makers solace that they made the right decision. To do that, you can (1) offer a service guarantee, (2) build and take prospects through a well-defined methodology, or (3) specialize so narrowly that it is easier to increase your stature. Although these steps still has their fair share of disadvantages, the most important thing is it can still help you distance yourself and make your individuality known to your prospect clients.
For this area, you have to answer the question: What is the best target market for you, or do you hunt every potential client that might possibly need your services?
Although understanding your target market is a difficult task, developing an understanding of the competitive landscape is crucial. You have to be able to determine how you should go to market, and how much you should charge your clients, familiarizing industry jargon and understanding the problems you are trying to solve will help during the planning process of your business consulting business plan.
There can be various approaches on how you can do this. One is to choose a few industries and then outline the size and type of businesses that you’d like to work within those industries. According to Beth Corson, the founder of Your FundingKey Advisors, instead of taking any client out of being desperate, being selective and creating a clear rod map of where you want to go will help you more. Though working with similar clients in a specific industry will help your company create a level of expertise making it easier for you to perform well and get new clients.
In order to figure out what marketing method or strategy works best for you, you should answer the following questions: How do you market your consulting business? What tactics do you employ to get in front of decision makers to evaluate your offering?
Just like in any businesses, marketing your skills and experience to potential clients will help you get your business off the ground. However, if you are a sole proprietor it can be challenging since the time you spend on marketing your skills and experience means it’s time you are not getting paid for. And although hiring a firm to help you specifically for this purpose is ideal, it can add to the cost for your business.
With that in mind, you need to be creative in finding the most effective way for you to market your business. It can be through public speaking engagements or partnering with other companies that might offer complementary services to your own. But in order for your business to continue growing and thriving, you need to develop your own client relationships independently.
The main issue with a consulting business is figuring out how to leverage yourself to grow revenue. Regardless of the accomplishments some consultants have like managing to publish a book and charging an hourly rate, they are still not able to serve to client simultaneously. In order to allow your consultancy take on more projects and flourish, you have to use the appropriate leverage.
The key here is to align your revenue arrangements with with employee compensation and how to pay employees to ensure they are available when you need them. Once your business is large enough, you have to assign key people on a salary with performance bonuses. This will assure you that they will stick with you with knowledge of your go-to market strategy, and know your methodology inside and out. Here are some guide questions you can refer to during this process:
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In order to make an effective business plan, you need to know and understand the various inclusion that comes with it. This way when you start making your business plan you know what to write about, where to put it, and how to fluently convey what you mean. Hence, here is a list of the contents you should include in a business consulting business plan:
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Now that you know about the contents you should put in your business plan as well as the areas you should focus on, you can begin making your business consulting business plan. With that, here is an easy guide you can refer to while on process of making your business plan:
The first step in making an effective business plan for your consulting business is to determine the scope of the services you offer. This means that you need to clearly set the boundaries or extent for the services you offer to your clients. However, you also need to match your skills and capabilities with the needs of your potential customer base. You need to make sure the scope of your skills, knowledge, and experience are within the needs of your potential clients to ensure that you are worth what your clients pay for.
There are bound to be competition in every field, industry, and expertise in business. Therefore, you need to present what makes you different from the others. In order to effectively do this, you need to study and understand what your competitors offer and find the factor or aspect that you have that they don’t. You have to articulately present why your services are different from the others. You have to present your company’s competitive advantages clearly in order to attract potential and more clients.
Your business model contains the finalized types of services you will be offering and what you will charge for each. The business model will service as your guide on how to operate your business as well as how to identify revenue sources, customer base, products, and details of financing. However, it is important to note that you should consider adding more services or improve your business model as you go on with your business especially if you have an established customer base to sell these new services. This will help you accurately accommodate the needs of your current and new clients efficiently and effectively.
Your marketing plan will serve as your guide on how to market and sell your company to your target customers. It should contain an outline of the methods and strategies you will employ in order to attract customers. In this day and age, making a website for your business is very relevant since people will want to efficiently know and contact you. The marketing plan should present how your website and search engine strategies will draw in potential customers. Aside from that, you should also include marketing strategies that you will use offline.
You have to include financial projections in your business plan. This will ensure you that you are on the right path when it comes to revenue, expenses, and growth. Since the forecast is based on past, current, and projected financial conditions, you can track the financial progress and errors you have made so far. In addition, this will help identify future revenue and expenditure trends that may have an immediate or long-term effect on your business.
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Making a business plan for your business intended to consult other business can be tough. However, if you already have a clear idea on what you want to do and how to do it, it can be easier to outline how to operate your business. In case you are still having a hard time making your business plan, here are some tips you can use:
As a business intended to consult other business with regards to specif aspects that make the business thrive, it is important that you do not sell yourself short. Therefore, a business consulting plan will help you attract more clients through presenting relevant information about your skills, experience, and what you can offer. We hope you have learned about business consulting and business consulting business plans with the help of this article.
Text prompt
Create a study plan for final exams in high school
Develop a project timeline for a middle school science fair.
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Download a copy/paste example of a consulting business plan for any industry. Learn how to write an executive summary, service description, target market, marketing strategy, and financial projections.
Writing a marketing consultant business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan: 1. Executive Summary. An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ...
e live training session so that it can be used later.This raises some questions tha. you will need to consider as you plan your business. First, when you create training materials, for instance, in the form of a DVD, CD, or hardcopy materials and later sell them or incorporate them into your consulting wor.
Marketing Consulting Business Plan Template Download this free marketing consulting business plan template, with pre-filled examples, to create your own plan. ... Download as PDF Finish your business plan with confidence. Step-by-step guidance and world-class support from the #1 business planning software. Get 50% off LivePlan Now ...
Step 4: Integrate your ideal schedule into the one-page consulting business plan. With step number 3, you've mapped out what you want to include in your business plan in terms of client type and nature of consulting work. In step number 4, we will build your ideal schedule into the business plan for the next 12 months.
Choose professional, creative cover pages to make your business plan stand out. 5. Share easily with anyone. Upmetrics plans are easily shareable in pdf and word documents. And if either doesn't work, you can share it with a quick link too and track the reader's activity! 2.
Sample from Growthink's Ultimate Consulting Business Plan Template: Last year, according to IBISworld.com, management consulting services in general brought in revenues of $156 billion and employed 876,000 people in the United States. There were 371,000 businesses in this market, for an average of $178,000 of revenue per employee, industry-wide.
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.
The marketing plan sets the company vision and articulates the consultant's mission. Like the business plan, the marketing plan should include short and long term goals. The marketing plan focuses on the strategy that will result in the achievement of the vision. As the consulting practice emerges, the path may require adjustment, but the ...
Talk to your peers, friends, previous business associates and potential customers. Show them your plan and listen to their feedback. 5. Keep it simple. Don't write dozens of pages. You'll bore the investors and your plan will end up on a pile where nobody will ever look at it again - including you.
Use This Template. Establish your consulting firm's credibility and vision with this sleek and professional business plan template. Set the stage for success with this polished and expertly designed consultancy business plan template. Address crucial aspects such as value proposition, market analysis, competitive advantage, and SWOT analysis ...
A good marketing consultant will help cut down your objectives to a more realistic few, based on where you want to be in a year, in three years, or in five years. This can also help you prioritize your objectives based on what's best for the business in the long run. 3. To recognize resource gaps.
The projected P&L statement for a marketing consulting firm shows how much revenue and profit your business is expected to make in the future. A healthy marketing consulting firm's P&L statement should show: Sales growing at (minimum) or above (better) inflation. Stable (minimum) or expanding (better) profit margins.
The company is seeking $2.5 million of financing to fund the acquisition of Vihaan Advertising and its initial operations. This funding will cover the purchase of Vihaan Advertising, marketing, purchase of extra software, and hardware. Projected revenues for 2021 to 2023 are $200,000, $1.5 million, and.
MarketCamp is a Web marketing business based in Mexico City. The company will start up as a simple consulting business billing directly in the founder's name. 2.1 Company Ownership. This company is owned 100% by its founder, Paul Berry. 2.2 Start-up Summary. Start-up costs are detailed in the chart and table below.
Marketing Plan Examples for a Consulting Business. Below are sample marketing plans for consulting firms. Example #1 - CloudNet, an IT Consulting Business. CloudNet offers quality IT consulting services that will help your business grow. We have over 10 years of experience in the industry and our team of experts is ready to help you achieve ...
If you want these businesses to hire your services, then you have to come up with a business plan that will make them want to contact you for the job. With that in mind, here are the steps that will help you create your very own marketing consulting business plan: 1. Explain Your Goal as the Consultant.
The marketing plan should present how your website and search engine strategies will draw in potential customers. Aside from that, you should also include marketing strategies that you will use offline. 5. Prepare a financial forecast. You have to include financial projections in your business plan.
This product ( Marketing Plan of a Consulting Firm) is a 34-page PDF document, which you can download immediately upon purchase. This document is a marketing plan for "ABC's Consulting Firm." To expand the brand equity of ABC to include our consulting solutions. • Champion the customer's "voice." (e.g.: use customer-friendly language, issues ...