Definitive Business Plan, Second Edition, The

Don't trust consultants

I would say that the worst possible thing you can do is to call in management consultants to write a business plan for you. This may be a bit harsh, although a true example illustrates the problems.

The chairman of a medium-sized organization realized that his business was not performing well. He called in one of the top consulting firms, and let them charge him a handsome fee for preparing a weighty and glossy plan. He followed the first few steps of the plan, recruiting managers to fill new positions as recommended. Then it all fell apart. There was no coherent understanding, no buy-in, no commitment to the plan. The new managers were experienced business people and they had their own ideas about how to run the business. ...