Business Plan Development for Managing Consultant Firm
September 2020 - January 2021
The Firm worked with a minority and women-owned management consulting firm that provides comprehensive professional services for companies and organizations in traditionally homogenous industries.
The Client created a capability statement outlining their core capabilities and industries of expertise. The three founders shared experience in government contracting roles, private commercial organizations, and non-profit foundations. Their diverse backgrounds & existing friendship aligned to create a consulting firm that would secure certifications and contracts with private and public sector organizations.
The Client requested the development of a business plan to guide their contract bidding process, company organization, and competitive positioning. The business plan would also include projected financial statements to create an initial startup budget.
The Consultants started work by drafting and finalizing a questionnaire for the Client to fill out. The goal of the questionnaire was to gain an in-depth understanding of the Client’s backgrounds, strengths, and business goals in order to provide holistic strategic recommendations. The answers to the questionnaire were referenced frequently in the business plan development process, with notable value added to the mission statement, leadership style and culture, and goals and objectives sections.
Above: Select questions from the questionnaire drafted by the Consultants.
Next, the Consultants began work on the business plan by conducting extensive market and industry research to inform the Client of the current consulting competitive landscape and opportunities the Client could pursue. The business plan also outlined the framework for bidding on and winning private and public sector contracting work. This consisted of certifications, contract structures, and legal considerations. Each draft of the business plan was sent to the Client to receive direct feedback, and the Consultants collectively revised each iteration until a final business plan was completed.
The business plan that the Consultants developed is being used by the Client to bid for and win work contracts within their region.
Michael Treiber - Project Manager and Strategy Consultant
Laura Glanz - Strategy Consultant
Claire Huang - Strategy Consultant
Industry: Management Consulting
Location: Washington, D.C.
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