How to hire consultants wisely for startups

You start your own company, and you may be looking for a consultant. There are some things to be aware of before you send out invitations to people outside of the business to help them with their business, and that will give you the respect to treat them and cherish their time and expertise.

1. Rely on a solid business plan

When you ask a consultant to help you push a new company, he or she may want to look at your business plan to better understand your strategy for entering a particular market.

Ideally, you have a plan that shows that you already have ideas that you can support and that you will get your first investment.

You can also hire a consultant to help you write your plan (I've written a business plan for two new ventures in health care that have made them a first-round investment)

2. Give full play to your competitive edge

Having a solid business plan means you know very well that your company has a competitive advantage over other companies in the market. Knowing where your company is doing better than other companies helps to prove the value of your new venture to consultants and markets.

With a solid business plan in place, you will need an innovative marketing plan: your new product or service will not be promoted, and you will find ways to stand out from the mess in the marketplace and tell your target consumers why your company is better. A consultant can help you develop such a plan.

3. Remuneration to Consultants

If you don't have the time and expertise to pay for consultants, don't hire them. When you ask someone to spend time doing things, don't think about just telling them you can't pay, or "this experience is useful to you".

That's what experts do, because they're capital of education and professional experience. Do not despise them, assuming they will work for you for free. Maybe your friends or family can, but a consultant outside the circle won't.

4. Don't take advantage of generosity.

Finally, if a consultant agrees to help your new venture, use his time wisely. This includes well-organized work, regular communication and rapid feedback.

Experts generally have multiple projects at the same time and expect to be part of a professional organization, even if it is still in its infancy.