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By Lukas Baecker at January 28 2019 00:26:25

One key component critical to your success is scoping the competition. A business plan consultant studies the area where you will be located quite thoroughly. For example, if you plan on setting up a coffee shop on Main Street, or within the vicinity, the small business consultants you consult with will inquire about the number of existing coffee shops and the services they provide.

A website reflects the uniqueness of a particular business organization and serves as your representative in the Google search. So, if you are planning to design a website for your organization make sure you choose the accurate web design for your company's website.

One crucial function they perform is the formulation of business plans. This plan is based on the information provided by the client coupled with the vast wealth of knowledge and research a business plan consultant has.

Financial Plan - What is the anticipated income? What are the cash flow projections? What is the anticipated budget over the next 3 years? What is the break even point? When is it anticipated to be met? What funding is needed and where will it come from? What funding is currently available? What collateral is available? What is the net worth of the principals, if applicable? Possible Data Sources: accountant; accounting software; Small Business Administration; Small Business Development Center; SCORE; banks; venture capitalists.

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