A consultant is a professional who provides advice in many different fields of expertise. Business Consultants are professionals who give advice in regard to management and operations of a business. This area of expertise can be broad and confusing to a small business owner or manager, searching for help with day to day business issues. So the question is, can a generalist, or a basic business consultant, really help your business?
Generally, the answer is yes. A management consultant with a sound, structured approach towards business can help a small business owner or manager.
First, a business consultant can help an owner or manager assess the business, using objective tools to analyze the businesses potential. It is very important to have a clear understanding where the business is and where it may be going. Many times, owners and managers can lose the forest through the trees, and having a business consultant on their side to keep them on target can be reassuring and rewarding.
Second, consultants are a good alternative for some specialized tasks. There may be research, or reporting requirements, which could be more complex than hired staff may be able to accomplish. Having a trusted business consultant on your side to help with special needs, ads the proverbial "looking over my shoulder". This is a nice backup for owners and managers.
Third, a good consultant can help you identify plans to expand (market) or streamline (add operational efficiency) to your business. Consultants can be used to brainstorm about expansion, adding products to a business offering or merging and/or acquiring additional assets. Having a consultant on board gives the owner or manager a built in "devil's advocate". It is someone who understands the goals and the business limits in an objective forward thinking manner.
Fourth, a properly chosen consultant will provide clear and objective counsel to help the business owners and managers make effective and forward moving decisions. Using a consultant as a sounding board during decision vetting is one of the best ways for owners and managers to utilize a consultants time. Again, using your consultant during the planning phase will also give your consultant great insight, allowing them to remain involved when operational issues arise and or future changes are needed within the organization.
Finally, it is important that your business consultant can help you within all aspects of your business. It is essential to keep a business consultant, as you would a CPA for your taxes, a lawyer for your legal issues and a financial planner for your retirement. Why not keep a business consultant for your current business?
Business consultants, who have been engaged with their clients through a structured approach, are generally successful in helping their clients be more successful. They should always take an objective approach that is clear to the company's management and owners. A businessman who properly utilizes a business consultant will see higher rates of return on his investments and smoother operational efficiencies within his organization. You will also see that a businessman, who uses business consultants, will have more time to enjoy interests outside of his business, adding more to the value of the Business Consultant.
Article Source: http://EzineArticles.com/3134161
Monday, July 18, 2011
Can a Business Consultant Make a Difference in Your Company's Success?
A business consultant has many roles and can help an old company re-new itself and find itself again; help founders start and develop a new venture or project; help to turn around a company fraught with problems; help a company identify new opportunities and markets; or help a company develop a business success plan.
A good business consultant has experience working in and with a broad range of businesses. An experienced business consultant has broad and narrow stroke experience and typically, twenty years or more of accumulated business experience. Having an MBA from a good business school isn't enough. The consultant must have solid real world experience with many types of companies to be an effective consultant.
So what does a business consultant do? First and foremost, a consultant gets to know and understand your business. As the business owner, you know more about your business than anyone else. For this reason, a good business consultant will take the time to learn from you, your department heads and key employees the ins and outs of your business.
The consultant then goes to work identifying problems and opportunities. Those may be certain problems and opportunities you point out to the consultant, but also a good consultant will have a process to identify problems and opportunities which a business owner has not identified. A consultant brings fresh eyes, fresh experience and an open mind to your business enterprise, providing a completely different perspective than that of someone who has been running the company for some time or someone looking to start a new venture.
A business consultant will then analyze this gathered information in order to provide solid solutions and plans for the future. Often business ownership is so focused on working "in" the business that short term and long term outlooks and strategies are overlooked and neglected. The consultant re-focuses a company's strategies in order to solve immediate problems, while taking advantage of future opportunities. Steps taken in a good consulting process include: learn about the business; identify problems; identify future opportunities; perform analysis; provide solutions through a concrete plan; listen to feedback and adjust the plan; and implement and track the plan.
The consultant considers all company input to develop a business plan that will be effective. The consultant listens to the opinions of the company's advisors (accountants, lawyers, bankers and other advisers). The consultant can use Delphi sessions and red teams which contain industry experts and competitive viewpoints. The consultant also listens carefully to the view points of the company's ownership, founders, board, top management and key employees. A final business plan is agreed upon and signed off on by the company with the consultant helping to implement, track and re-work the plan as necessary over time.
When an entrepreneur is thinking about starting up a new business, a business consultant can apply a start-up analysis to determine if it is a feasible opportunity, which includes: analyze and evaluate the opportunity; develop a business strategy and model; resource audit; acquiring and leveraging needed resources; venture deployment; and getting and distributing value.
When considering an existing business acquisition, a business consultant can employ an business analysis, such as: products and services analysis; management team appraisal; operational analysis; market position; competitive factors; SWOT analysis; analyze financials; valuations; and risk assessment.
Article Source: http://EzineArticles.com/3621998
A good business consultant has experience working in and with a broad range of businesses. An experienced business consultant has broad and narrow stroke experience and typically, twenty years or more of accumulated business experience. Having an MBA from a good business school isn't enough. The consultant must have solid real world experience with many types of companies to be an effective consultant.
So what does a business consultant do? First and foremost, a consultant gets to know and understand your business. As the business owner, you know more about your business than anyone else. For this reason, a good business consultant will take the time to learn from you, your department heads and key employees the ins and outs of your business.
The consultant then goes to work identifying problems and opportunities. Those may be certain problems and opportunities you point out to the consultant, but also a good consultant will have a process to identify problems and opportunities which a business owner has not identified. A consultant brings fresh eyes, fresh experience and an open mind to your business enterprise, providing a completely different perspective than that of someone who has been running the company for some time or someone looking to start a new venture.
A business consultant will then analyze this gathered information in order to provide solid solutions and plans for the future. Often business ownership is so focused on working "in" the business that short term and long term outlooks and strategies are overlooked and neglected. The consultant re-focuses a company's strategies in order to solve immediate problems, while taking advantage of future opportunities. Steps taken in a good consulting process include: learn about the business; identify problems; identify future opportunities; perform analysis; provide solutions through a concrete plan; listen to feedback and adjust the plan; and implement and track the plan.
The consultant considers all company input to develop a business plan that will be effective. The consultant listens to the opinions of the company's advisors (accountants, lawyers, bankers and other advisers). The consultant can use Delphi sessions and red teams which contain industry experts and competitive viewpoints. The consultant also listens carefully to the view points of the company's ownership, founders, board, top management and key employees. A final business plan is agreed upon and signed off on by the company with the consultant helping to implement, track and re-work the plan as necessary over time.
When an entrepreneur is thinking about starting up a new business, a business consultant can apply a start-up analysis to determine if it is a feasible opportunity, which includes: analyze and evaluate the opportunity; develop a business strategy and model; resource audit; acquiring and leveraging needed resources; venture deployment; and getting and distributing value.
When considering an existing business acquisition, a business consultant can employ an business analysis, such as: products and services analysis; management team appraisal; operational analysis; market position; competitive factors; SWOT analysis; analyze financials; valuations; and risk assessment.
Article Source: http://EzineArticles.com/3621998
How Business Consultants Help With Business Strategies
Business consultants help management teams and organisations improve their overall performance. Many businesses aren't aware of the industry's best practices, and that's one area where consultants can come in and educate management teams and improve the current practices of the company. Consultants use two basic types of strategies, either expert or facilitative. With an expert strategy, the consultant enters the business and tells the company what they need to do in order to improve. With a facilitative approach, the consultant enters the business and helps facilitate the changes that need to be made rather than just providing advise and instruction.
Internal and External Consulting Groups
When a business decides to reach out for help, management can choose between an internal consulting group or an external consulting group. Business consultants who are hired to be a part of an internal group are usually hired from within the company. However, there are consulting firms who specialise in certain areas and may offer more experienced consultants. When an internal group is organized, the consultants are usually spread out through various departments. The infrastructure of the business is then analysed and the consultants work together to create strategies that improve business, increase clientele, and market the company effectively.
An external group is one that doesn't work within the company but rather spends time consulting with management and working to improve business from a different location. These consultants communicate heavily through phone calls and emails and will create marketing campaigns and strategy presentations at their office and then present them to the business. Many smaller businesses utilise external consultants since they are cheaper than having an on-site consulting team.
What a Business Consultancy Does for Your Business
Once you've chosen the type of consultancy that works best for your company, it's time to figure out exactly how the consultants can help your business. If you need help with your current business model, the consultants can analyse what's working and not working with your model and suggest improvements. They can also review your current revenue and suggest changes to help improve your business revenue. This would be included as part of your growth strategy, so the consultants will also be able to help you improve shareholder value and increase business worth. By utilising business consultants to help improve your strategies and business models, you can focus more on company priorities and gaining clients.
Article Source: http://EzineArticles.com/4965909
Internal and External Consulting Groups
When a business decides to reach out for help, management can choose between an internal consulting group or an external consulting group. Business consultants who are hired to be a part of an internal group are usually hired from within the company. However, there are consulting firms who specialise in certain areas and may offer more experienced consultants. When an internal group is organized, the consultants are usually spread out through various departments. The infrastructure of the business is then analysed and the consultants work together to create strategies that improve business, increase clientele, and market the company effectively.
An external group is one that doesn't work within the company but rather spends time consulting with management and working to improve business from a different location. These consultants communicate heavily through phone calls and emails and will create marketing campaigns and strategy presentations at their office and then present them to the business. Many smaller businesses utilise external consultants since they are cheaper than having an on-site consulting team.
What a Business Consultancy Does for Your Business
Once you've chosen the type of consultancy that works best for your company, it's time to figure out exactly how the consultants can help your business. If you need help with your current business model, the consultants can analyse what's working and not working with your model and suggest improvements. They can also review your current revenue and suggest changes to help improve your business revenue. This would be included as part of your growth strategy, so the consultants will also be able to help you improve shareholder value and increase business worth. By utilising business consultants to help improve your strategies and business models, you can focus more on company priorities and gaining clients.
Article Source: http://EzineArticles.com/4965909
Business Consulting Made Easy
No matter how good a manager is at running his staff, completing his projects, operating his business and coming up with solutions to pressing problems, there will come a time when he would meet a challenge for which he does not have a solution. After all, nobody is perfect, people do commit mistakes, and information that may be current today will certainly become obsolete in the days to come.
It always pays to have a look at one's business from a different perspective, preferably from the eyes of someone who is not directly involved in the day-to-day operations of the business. Having someone else take a fresh look at how the business is run helps managers spot potential problems, existing problems, as well as ways to streamline operations to make them more efficient and productive. This is why many corporations hire business consultants.
Business consultants are supposed to be experts in their particular field. They may specialize on a specific aspect of business or a specific industry, such as management, finance, operations, human resources and development, research, et cetera. They may adhere to a particular business theory or principle and are certified to conduct trainings, workshops and consultancies. Business consultants are supposed to be more informed and more knowledgeable about certain approaches in business. At the very least, they can give new insight on how things can be done better at the office.
During crunch time or in times of crisis for the company, getting a business consultant to come and take a look at the way things are being run in the company may prove to be invaluable. It always helps to have someone look at any given situation with a different perspective. A stranger to the situation most of the time is able to spot what is being done wrong more easily than one who is firmly entrenched in it. A person who is firmly entrenched in a given problem may be too stressed out to see what may be obvious to some. Moreover, a stranger will be able to offer a more objective opinion than one who is from the inside.
Finding a good business consultant is not as hard as it may seem. If you regularly reads books on business and personal leadership, books such as those written by Stephen Covey, Peter Drucker, Brian Tracy, Dr. John C. Maxwell and Robert Kiyosaki, you would be aware that some of these authors started out as business consultants. Most likely, these authors still do consultancy work for large corporations.
Of course it may not be possible for you to hire the likes of such stellar experts to be regular business consultants for your company because they may charge hefty consultation fees. If these experts' fees are too much for you, the least you can do is to make their books, podcasts and CDs available at your company's library and start up a personal development program for your staff. You can make this program compulsory, done for around ten minutes a day, once or twice a week. Or you can book these experts for a seminar or a speaking engagement.
Another way of finding good business consultants is to search for them at online directories and search engines. Typing in a search query on your browser can turn up the websites of companies such as the IBM Global Business Services, FranklinCovey and many others. Choose a business consultant whom you think can address the current needs and concerns of the company.
Once you have chosen a particular business consultant, you can invite the consultant to come onsite, at your company's premises, to go and have a look at the way things are being done at work. This look-through can last a few days and the consultant may ask for access to some company files and documents. You can also set up a meeting between the key members of your staff and the business consultant to discuss the current situation at work, the possible challenges and the possible solutions that can decisively deal with these challenges. You can hire the business consultant to come at the office on a regular basis to sit with you and your key staff at board meetings or annual planning events.
Of course, the business consultant does not need to be physically present at your office to conduct an evaluation. Perhaps a video conference can be set up between you and your business consultant so the two of you can have a candid talk about your concerns about your company. Your key staff members can also join in the video conference. Business meetings can be done online, after all, regardless of the location of the parties involved, thanks to video streaming technologies over the Internet.
As for details of your concerns that you would like your business consultant to look at, you can have your staff prepare flowcharts, PowerPoint presentations, spreadsheets, reports and other documents related to these concerns. You can even send the consultant copies of old records if you think that these documents are not confidential and are not too sensitive to be read by other people. So the consultant would know what he or she is looking at, an abstract or an executive summary should accompany this packet of documents. The packet can be emailed in case matters are urgent, to be followed by an express delivery of hard copy on the following day. If time is of the essence, make sure that your business consultant knows that there is a time pressure involved.
Article Source: http://EzineArticles.com/5042476
It always pays to have a look at one's business from a different perspective, preferably from the eyes of someone who is not directly involved in the day-to-day operations of the business. Having someone else take a fresh look at how the business is run helps managers spot potential problems, existing problems, as well as ways to streamline operations to make them more efficient and productive. This is why many corporations hire business consultants.
Business consultants are supposed to be experts in their particular field. They may specialize on a specific aspect of business or a specific industry, such as management, finance, operations, human resources and development, research, et cetera. They may adhere to a particular business theory or principle and are certified to conduct trainings, workshops and consultancies. Business consultants are supposed to be more informed and more knowledgeable about certain approaches in business. At the very least, they can give new insight on how things can be done better at the office.
During crunch time or in times of crisis for the company, getting a business consultant to come and take a look at the way things are being run in the company may prove to be invaluable. It always helps to have someone look at any given situation with a different perspective. A stranger to the situation most of the time is able to spot what is being done wrong more easily than one who is firmly entrenched in it. A person who is firmly entrenched in a given problem may be too stressed out to see what may be obvious to some. Moreover, a stranger will be able to offer a more objective opinion than one who is from the inside.
Finding a good business consultant is not as hard as it may seem. If you regularly reads books on business and personal leadership, books such as those written by Stephen Covey, Peter Drucker, Brian Tracy, Dr. John C. Maxwell and Robert Kiyosaki, you would be aware that some of these authors started out as business consultants. Most likely, these authors still do consultancy work for large corporations.
Of course it may not be possible for you to hire the likes of such stellar experts to be regular business consultants for your company because they may charge hefty consultation fees. If these experts' fees are too much for you, the least you can do is to make their books, podcasts and CDs available at your company's library and start up a personal development program for your staff. You can make this program compulsory, done for around ten minutes a day, once or twice a week. Or you can book these experts for a seminar or a speaking engagement.
Another way of finding good business consultants is to search for them at online directories and search engines. Typing in a search query on your browser can turn up the websites of companies such as the IBM Global Business Services, FranklinCovey and many others. Choose a business consultant whom you think can address the current needs and concerns of the company.
Once you have chosen a particular business consultant, you can invite the consultant to come onsite, at your company's premises, to go and have a look at the way things are being done at work. This look-through can last a few days and the consultant may ask for access to some company files and documents. You can also set up a meeting between the key members of your staff and the business consultant to discuss the current situation at work, the possible challenges and the possible solutions that can decisively deal with these challenges. You can hire the business consultant to come at the office on a regular basis to sit with you and your key staff at board meetings or annual planning events.
Of course, the business consultant does not need to be physically present at your office to conduct an evaluation. Perhaps a video conference can be set up between you and your business consultant so the two of you can have a candid talk about your concerns about your company. Your key staff members can also join in the video conference. Business meetings can be done online, after all, regardless of the location of the parties involved, thanks to video streaming technologies over the Internet.
As for details of your concerns that you would like your business consultant to look at, you can have your staff prepare flowcharts, PowerPoint presentations, spreadsheets, reports and other documents related to these concerns. You can even send the consultant copies of old records if you think that these documents are not confidential and are not too sensitive to be read by other people. So the consultant would know what he or she is looking at, an abstract or an executive summary should accompany this packet of documents. The packet can be emailed in case matters are urgent, to be followed by an express delivery of hard copy on the following day. If time is of the essence, make sure that your business consultant knows that there is a time pressure involved.
Article Source: http://EzineArticles.com/5042476
Do You Need a Business Consultant?
The option to employ a business consulting service is not always an easy one, numerous factors demand consideration. It's true numerous businesses succeed without the assistance of a consultant; conversely business consulting constitutes a valuable asset for various companies successes that do utilizing such services. Whenever you're uncertain whether or not to use the services of a business consulting company here are a few questions to ask yourself to make the determination more effortless.
Does your business organization demand an unbiased outside look?
The short answer is whenever you are even considering that you might need help from a business consulting company you in all probability will profit by their services. Business advisors can be helpful irrespective where your business is positioned; whether you are barely taking off, or you're a seasoned company that has bumped into some obstacles. Even if your business is doing well a consultant can help you to expand and diversify to reach new or additional profitable clients. If you need help starting your business, have run into problems that necessitate mastering; or just want some fresh ideas helping your successful business grow and prosper you could reap benefits from the ideas of a business consultant.
What areas will a Consultant handle?
Most consultants quickly realize their clients are more astute in the day-to-day operations of your company than any consultant will ever hope to be. How to produce your product or supply your service is certainly your forte. However, the outside influences, or staff-type operations, may require fine tuning. For instance, if you set up your website with a web designer who was not attuned to the conundrums of optimization for search engines, or the latest theories of landing page design, these factors may have a negative impact on your overall marketing plans. Oft times clients first, perhaps sole, impression of your company may be through your website. This same skill can be used to address your marketing, printed communications, employee relations, or even bringing your hotel from two to three or four stars.
How do I decide which consultant to hire?
There are independent consulting companies available for every business niche imaginable. It is important to find a consulting company that has experience in the industry in which you operate and have provided other businesses with the services you need. You can always ask friends, colleagues, or other business owners who they have used if the consultant helped their business. You should have a good idea of what you want to accomplish by hiring a consultant, and how much input you want to have; or whether you want the consultant to deliver to you a finished packaged solution. It is always a good idea to interview a few business consulting firms to get a feel of their experience level and how well they will work with you. Probably most importantly you want to deal with someone you are comfortable working beside. Without a good comfort level, the give-and-take necessary to accomplish your goals may be compromised. Be sure to insist you meet the actual person or persons that will be doing the job not just a point person who sells you the consulting firm and then moves on to the next lead.
Do I need a contract?
You will also want to carefully consider the contract you arrange with the consultant you choose. Most business consultants will write a contract outlining the details of their services, and what you can expect from them. A contract is always good to have because it will clearly state the details of the service you can expect. Your consulting contract should include a begin date and end date or specify if they will be providing an ongoing service, the specifics of the project they will be completing for you as well as the project goals you want them to accomplish, and the methods they will use to complete their services. The pricing should be clearly stated - whether by the day/hour or flat rate for the project. You should also agree as to how the payments will be made - at what stage of the contract or just divided into weekly installments over the project timeframe.
Article Source: http://EzineArticles.com/2141888
Does your business organization demand an unbiased outside look?
The short answer is whenever you are even considering that you might need help from a business consulting company you in all probability will profit by their services. Business advisors can be helpful irrespective where your business is positioned; whether you are barely taking off, or you're a seasoned company that has bumped into some obstacles. Even if your business is doing well a consultant can help you to expand and diversify to reach new or additional profitable clients. If you need help starting your business, have run into problems that necessitate mastering; or just want some fresh ideas helping your successful business grow and prosper you could reap benefits from the ideas of a business consultant.
What areas will a Consultant handle?
Most consultants quickly realize their clients are more astute in the day-to-day operations of your company than any consultant will ever hope to be. How to produce your product or supply your service is certainly your forte. However, the outside influences, or staff-type operations, may require fine tuning. For instance, if you set up your website with a web designer who was not attuned to the conundrums of optimization for search engines, or the latest theories of landing page design, these factors may have a negative impact on your overall marketing plans. Oft times clients first, perhaps sole, impression of your company may be through your website. This same skill can be used to address your marketing, printed communications, employee relations, or even bringing your hotel from two to three or four stars.
How do I decide which consultant to hire?
There are independent consulting companies available for every business niche imaginable. It is important to find a consulting company that has experience in the industry in which you operate and have provided other businesses with the services you need. You can always ask friends, colleagues, or other business owners who they have used if the consultant helped their business. You should have a good idea of what you want to accomplish by hiring a consultant, and how much input you want to have; or whether you want the consultant to deliver to you a finished packaged solution. It is always a good idea to interview a few business consulting firms to get a feel of their experience level and how well they will work with you. Probably most importantly you want to deal with someone you are comfortable working beside. Without a good comfort level, the give-and-take necessary to accomplish your goals may be compromised. Be sure to insist you meet the actual person or persons that will be doing the job not just a point person who sells you the consulting firm and then moves on to the next lead.
Do I need a contract?
You will also want to carefully consider the contract you arrange with the consultant you choose. Most business consultants will write a contract outlining the details of their services, and what you can expect from them. A contract is always good to have because it will clearly state the details of the service you can expect. Your consulting contract should include a begin date and end date or specify if they will be providing an ongoing service, the specifics of the project they will be completing for you as well as the project goals you want them to accomplish, and the methods they will use to complete their services. The pricing should be clearly stated - whether by the day/hour or flat rate for the project. You should also agree as to how the payments will be made - at what stage of the contract or just divided into weekly installments over the project timeframe.
Article Source: http://EzineArticles.com/2141888
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