How Do Business Consultants Help Businesses?

A business consultant provides solutions. There are many problems occurring every day in a business, irrespective of the scale of operations. A small business has a different kind of problems; a medium scale business will have a different set of issues while a large scale business firm will have completely different problems occurring. But a consultant can help with all kinds of business problems depending on his/her expertise and your size of business. Business consultants provide a fresh perspective on the business matters and help the owner achieve new heights of success.

There is a list of things a business consultant does that are very good for your business:

  • Provide a fresh set of solutions
  • Identify the root cause of problems
  • Supplement the existing staff
  • Provide expertise on a specific subject or market
  • Train the existing employees
  • Look after employee turn over
  • Bring in necessary changes to the structure
  • Provide objectivity
  • Provide constructive criticism

Not all business consultants are same. They come in many forms. There are experts in the following six major areas of businesses:

1. Management Consultant:

A management consultant solves the problems from within the business structure and provides ways to improve the efficiency and productivity. He creates strategies for making changes in the existing business management system and offers a lot of opportunities for personal development. They analyze how a business works – its strategies, operations, and structure, and then come with a plan to make changes and achieve the goals of the business.

2. IT Consultant:

Technology is growing very fast and it is essential to incorporate it into the day to day workings of your business. An IT consultant decides whether you need a new technological setup or not and how to integrate the new technology with your old one. He makes your business technology more flexible to suit the needs of internal and external associations.

3. Operations Consultant:

An operations consultant reduces the steps of production and increases the efficiency of your business. He implements new ways to reduce cost, increase productivity and simultaneously increase profits. An operations consultant specializes in re-engineering and quality control, maps out changes to reduce the number of defects and maintain the quality.

4. HR Consultant:

The employees need to align their goals with the business goals for a business to succeed. An HR consultant helps with that. He works after increasing the overall satisfaction of the employees, recruiting new staff when needed, training the new and existing staff and also letting go of people redundant to the company. They provide performance-related feedback and evaluations to make your team stronger.

5. Marketing Consultant:

A marketing consultant helps you create a niche for your business in the market. From the need for a new logo to a new social media strategy, a marketing consultant can help with everything. A consultant adds to the creativity when your people run out of ideas. The consultant can help create a new position for the business and attract new and more customers.

6. Finance Consultant:

A financial consultant offers financial advice related to investments, taxes, and insurance to increase the worth of the company. They help the company understand what to do with their current financial status and how to achieve their goals by maximizing the company wealth. A consultant helps the business in increasing profits along with smartly utilizing the earning and creating a financially secure future.

Reasons to Hire a Business Consultant

The following are a few reasons to hire a business consultant:

1. A Temporary Brain:

A consultant come in handy as a hired extra brain when you are short on human resources or have not yet filled the gap for a specific job. So in the meanwhile, you employ a person for a permanent job, the consultant can lend you the expertise required on the subject. Sometimes, when you need someone temporarily for a job of the limited time period, in such a situation too, a consultant can be helpful.

2. Bring in Changes:

Consultants are known for bringing in changes in the company which usually the employees resist when the management decides to go ahead. Thus, the consultant takes the heat for implementing all the changes and the loyalty of the staff towards you is maintained. Many times consultants are brought in for political cover or introducing unpopular changes.

3. To Employ Expertise:

Consultants are the experts in their field. They have the theoretical and academic knowledge and have worked with big companies closely. Thus they have the practical implementation of the same theories. For every problem, they have the best possible solution that has been tried and tested. So why look for new solutions when the consultants have implemented those on bigger clients and come out successfully.

4. Creativity:

Sometimes the internal solutions can get stuck up in their own boundaries. At a time like this, a fresh new perspective can help you look at the bigger picture which you were missing before. Consultants can come up with ideas for your business which you and your employees could never have thought of due to lack of exposure and creativity.

5. To Train the Employees:

Consultants are leaders and can train the employees to become more efficient and productive. Consultants have both – theoretical and practical knowledge of things which they can share and train people to take the advantage of the knowledge directly. They can deliver high values to the employees and make them more capable of their jobs.

6. Constructive Criticism:

Sometimes the business gets stagnant at a position and whatever you do seems to fail. A business consultant can analyze your business, compare its status with the outside flow and give you unbiased feedback. Many companies ignore the changes happening outside and thus get left behind. But a consultant provides the much-needed outlook on the details of current state, implementation of new schemes and such other critical matters.

7. A Roadmap for Future:

While you start the business, you have a roadmap of where you want to reach. But on the way, you have to make changes according to the market requirements. After a certain period, you feel the lack of experience or expertise to move forward. In a state of such crossroads, a consultant can clarify the direction for you to move forward. A consultant can make a plan for changing directions and also create strategies for you implement and reach your new targets faster.

8. Market Research:

Professional consultants are constantly researching the market and are in touch with the changing trends and dynamics constantly. Thus while taking strategic decisions you don’t have to hire someone, especially for market research. You can just hire a consultant and ask for his expert advice because he would definitely have done a thorough research of his own already. He can suggest you suitable changes and their practical implementation.

9. Save Time:

You cannot be an expert on everything. And you cannot employee permanent employees for a short-term work. For example, learning and doing the taxes above other things can be a hassle and there are chances of you making mistake. Therefore, you need to hire an expert who knows the fastest way to do the work and also has the best solution. This saves time and energy which you can utilize to do other work and take your business forward.

10. For Business Expansion:

With the changing trends, your business needs to branch out and expand to increase your existing market share. Developing a new business is a different experience for each category. When you are branching out, a consultant can help you with the business launch and also in the day-to-day operations of the new venture.

How to Find the Right Business Consultant?

Theoretically, the consultants are experts in their jobs. But practically, finding the right one that suits your needs is extremely difficult. You need a consultant who is passionate about his work, has an eye for detail, can do value-addition to your business and strives for excellence. The kind of problems you are facing needs proper addressing by an expert. Finding all these skills can be a difficult task.

You need to look for experience and strong referrals. A good business consultant needs to have a combination of many skills. So, necessary certification is essential along with well-documented information about his past works.

Consultants don’t come at a cheap price, but the right person can boost your profits immensely. And that is why you need to understand in detail to whom you are handing over your problems and trusting with the solutions.

Final Thoughts:

Hiring a consultant has positive effects on the business every day. But you the right man for the job. A consultant can not only create a plan for your success but also help you with the implementation. Not all consultants are same and not all the business problems have the same solution. So you need to analyze your business needs first and then look for the right person who will fulfil those needs.

You do need to wait for a little for the positive results to take effect but once they do, you will never work without the expert advice. Taking the counsel of an expert is sure expensive but weighed with its importance and future benefits, it is definitely worth it.

Nancy Khosla,

Jay Clark and Associates