Starting a Professional Services Business
Professional services means services offered for a fee by a professional such as doctor, engineer, lawyer, accountant. Also included are architectural practice, engineering practice or land surveying practice.
Writing a Professional Services business plan will force you to objectively develop and evaluate your tactical and strategic plans. It will also help you identify the opportunities and risks encountered as a result of your decisions.
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Opening a Professional Services Business
Your business plan needs to cover The market, Market segmentation, Consumer analysis, Competition, Product features and benefits, Competitive analysis, Positioning, Advertising and promotion, Sales, Research and development, Operations, People, Payback and exit plan and professional Financial Projections
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The first half of the business plan is geared towards helping develop, support and finally solid business strategy. You look at the market, the industry, customers and competitors.
During the second half of the business plan the entrepreneurs have to execute their selected business strategy. The Professional Services products and services, marketing and business operations should all closely tie in with business strategy.