Scope creep. The consulting client uses the approval process to demand more consulting without more payment.
A professional consulting business normally involves a proposal — also called an engagement letter — and acceptance. The accepted proposal becomes the agreement between consultant and client on what’s to be done, when, and for how much money.
During fulfillment, a reference to the original engagement is a valuable tool for tracking progress and managing ongoing work, and avoiding scope creep. It’s a critical missing link for most consultants.
Overture compiles proposals incorporating building blocks of content including text, tables, and milestones, component tasks, and date and deadline data, with ongoing progress tracking, tickler functions, communication with clients, and billing for progress. The key differentiator, secret sauce, is easily managed tools and a conceptual framework for ending scope creep.
Prospects include single professionals, small professional firms, and individuals in large firms. Pricing makes the software accessible to different levels, as little as $19.95 a month for the individual account.
There are several good proposal management offerings.
- Quote Roller
None of them addresses scope creep like Overture. Most are priced well above us, few have the features we have.
The real competition
The real competition is using existing word processing tools combined with project management and billing.
We have a great team including three proven successful startup veterans who are in a position to invest their own funds to cover start-up investment in the middle six figures. All three have strong experience and track records related to software and consulting.
We are value-driven. We believe that we’re doing something that needs doing, will help our users succeed, and will be the best possible way to spend the money they spend.
Our priority for the foreseeable future is high growth, not profits. We want to achieve the kind of high valuations that make a good opportunity for us and our investors.
Financial Highlights by Year
We plan on a capital investment of $2.5 million.
- Our three founders are able to fund $240K of early seed money to build the business enough to secure a round of local angel investment.
- We plan to take in $750K angel investment in the Spring of 2020.
- Series A venture capital in Spring of 2021.