Certain things must be considered before you hire a business planning consultant: When hiring a consultant, listed below are some essential things to keep in mind:
You must have a
contractual agreement.
The consulting
agreement sets out the parameters of the relationship, specifies the services
to be performed, and sets forth the timeframe in which the work needs to be
completed. Both parties should sign the agreement.
You must check the
consultant's background.
The skills and
abilities of consultants vary widely. Therefore, you should conduct your due
diligence and check references to help you determine if the consultant is right
for your business.
Be sure that no one
in-house can do the job.
Companies commonly
fail to consider the various skills of their employees before hiring a
consultant. Take the time to re-read the resumes of your staff before you spend
more money than necessary to hire a consultant.
Be sure to check
the compensation scale.
Check the going rate
in the industry and do some research to determine the pay range for the
services you require before overpaying a consultant.
The payment for
expenses should be spelled out in the consulting agreement.
The consultant will
expect his or her expenses to be covered, which should be discussed in advance
and spelled out in the consulting agreement so they do not come as a surprise
when they appear on the invoice.
Be sure the
consultant is available on the schedule you require.
Make sure the
consultant is available to work on your project schedule. For example, if the
consultant accepts your job but cannot start for three weeks, you need to know
that in advance to ensure that your deadlines will be met.
Conduct a thorough
hiring interview.
Take the interview
process very seriously with consultants, just as you would do with prospective
employees. A consultant you hire will be involved in the future of your
business, and you must conduct a comprehensive interview.
Have the consultant
sign a letter of confidentiality.
Consultants are free
agents, and you must remember that they may work for your competition after
completing your project. Therefore, you must have a signed letter of
confidentiality from the consultant to protect your trade secrets and confidential
information.
Clearly describe
the project.
Be sure that you and
the consultant are not on the same page from the start to avoid
misunderstandings and complications later on.
Introduce the
consultant to your staff.
Your employees start
to know who this person is and why they ask for files or about certain
projects. Introduce the consultant to your regular employees, especially those
with whom he or she will be working.
The consultant must
have marketing and finance skills and experience.
They must understand
the U.S. industrial and business climate. They must understand your company and
the industry. They must know who your competitors are and how they do business.
Be sure the consultant shows you the research they have done in preparing your
business plan.
The consultant must
do more than just write a business plan.
A business plan must
reflect a carefully thought-out business strategy for growth and profitability.
Your business
plan consultant must work with you to
develop and refine your business strategy. The consultant needs to meet with
you several times to learn, think through, and discuss your marketing,
financial and operating strategies.
Before you hire a
consultant:
- Do your research and look at the work the consultant
has done in the past.
- Be sure the consultant has the academic credentials and
experience necessary for a comprehensive business plan.
- Be sure the consultant knows how to prepare a business
plan that will meet your needs, whether for raising capital, applying for
business loans, meeting IRS requirements, or supporting grant requests.
For hiring best
business plan consultant we recommend you to get in touch with Maven
Business Plans.
Comments
Post a Comment