Startup consulting: what to know

What the job involves, what changes the price, and what to ask a pro.

What startup consulting is

A startup consultant helps a new business test its idea, shape its business model, prepare a pitch, plan early hiring and set priorities for the first stage. Founders bring one in when they have an idea but are not sure who will pay for it or how to reach those customers.

Signs you need it

  • You have a product idea but have not talked with enough potential customers to know whether they would pay
  • Your pitch changes every time you present it, and partners ask questions you cannot answer
  • You are choosing between two business models, such as selling direct or through partners
  • You need to plan your first hires and cannot tell which role should come first
  • You are close to a funding or launch milestone and need a clear plan to reach it

What the pro does

  • Review your idea, your target customer and any early research you have done
  • Plan customer conversations and test the riskiest assumptions before you spend more money
  • Map the business model, showing how the business earns money, what it costs and what must be true for it to work
  • Review or build the pitch deck or plan, tightening the problem, the solution and the reason to act now
  • Set a short list of early roles, hires and milestones for the next stage
  • Review progress on a schedule and adjust the plan based on what you learn

What changes the price

Every job is different, so we do not publish prices. These are the things that move the quote up or down.

  • The stage of the business, from idea only to an active product with paying users
  • Whether you need one session, a short plan or ongoing advice over several months
  • How many customer conversations and how much market research the plan needs
  • Whether the consultant builds materials such as a pitch deck or financial model, or only reviews yours
  • Whether hiring plans and job descriptions are part of the project
  • How many team members join the sessions

What a written quote should spell out

  • The stage you are at and the specific questions the consultant will answer
  • The number of sessions, their length, the dates and the format
  • The materials you will receive, such as a business model map, a pitch review or a hiring plan
  • What research the consultant will do and what you must provide
  • Who owns the materials, and whether any ongoing access or follow up is included

Questions to ask before you hire

  • What startups at my stage have you worked with, and what changed as a result?
  • How will you test whether customers want this before I build more of it?
  • Will you review my financial model and tell me which assumptions are weakest?
  • Do you take equity, and would that create a conflict of interest with my plan?
  • How do you handle the confidential product and customer information I share?
  • What will you do between sessions, and what should I do?

Red flags

  • Promises that the business will raise funding or reach a revenue target
  • Wants a share of the company in exchange for advice without a written agreement that explains exactly what they will do
  • Cannot describe how they would test an assumption or what result would change the plan
  • Uses the same pitch template for every founder without asking about your market

What you can do yourself

You can write a one page description of your idea, list your assumptions and talk with a few people in your target group yourself. Hire a startup consultant when you are about to spend significant money on a build, a hire or a funding round and need an outside check on your assumptions and plan.

Licenses and permits

No license is usually required for startup consulting. Ask for examples of plans or pitches they have helped build, references from founders they worked with and a clear statement of any equity or fees they expect; if the consultant gives legal, tax or securities advice, check with your state or local licensing agency whether that part requires a license.

Startup consulting questions

How do I know my idea is worth pursuing?

A consultant can help you test it, but the answer comes from real customers who will talk with you, try a prototype or commit money. Plan tests that could prove you wrong.

Should I hire a consultant or a coach?

A consultant usually brings a specific analysis or plan for your business. A coach usually focuses on your decisions and habits. Decide which one you need before you sign.

Do I need a pitch deck before I talk to a consultant?

No. Bring your idea, what you know about your customers and the questions you cannot answer. The consultant can help you shape the deck later.

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