Target Market 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?
Competition in this industry leads to frustration and burnout for many people, and it takes a strong sense of purpose to push the business beyond the realm of the high-intensity, low-return client. Need actual charts? Perhaps you have enough savings to keep you going for a few months and clients already lined up.
That's why Hermens says that you should focus on four key areas when fleshing out your business plan: 1. The Market The business consulting industry is very fragmented. It makes sense to keep some money in savings accounts, especially if you'll be paying tax at the end of the year instead of while you're earning.
Don't create your plan in a vacuum. Do you pay employees on a project basis, only when they work, risking their availability when you get a new contract? GMS is somewhere in between. The document gives all present and future employees, as well as the owner a sense of purpose that may exist without the business plan, but becomes more relevant after the business plan is written, reviewed, shared, and edited by all.