Every business, regardless of size, eventually reaches the point where the owner recognizes the fact that expert advice is needed. This is especially true of businesses that are potentially failing and are in need of a kick-start to get them back on track.
A cost-effective way of doing this is to call on the services of a business/management consultant to leverage the more specialized knowledge needed to achieve business goals in the shorter and longer term.
A management consultant’s role
Essentially, a management/business consultant is an outside expert who is brought in to help address internal business issues. The best of them are excellent sources of highly specialized knowledge, and can bring together the skills and experience needed to improve their client’s fortunes.
Consultants, unlike the in-house team, have their own independent schedules and typically work for multiple clients, hired on a contract or project basis. They may bring in their own team of typically two analysts and a project manager, or else work alone.
A consultant can bring specialist knowledge to many different areas of the business, from sales development and marketing to improvements and expansion, and can even implement the execution of their own recommendations and ideas with executive approval.
Reasons for bringing in a consultant
A business may show telltale problematic symptoms such as issues with cash flow or a decrease in sales, which management is unable to address. A consultant will often be able to get to the root of the problem by conducting research and tests.
A business may have set goals that cannot be met internally, perhaps because of a lack of core competency or a skills gap. Calling on the services of a consultant can often save time and money, and also achieve a better result in the long term.
In the case of a company that has grown very fast, the directors may be aware of many things that could be handled better but don’t know where to get started. In such a scenario, a consultant will bring a fresh perspective to the issues and be able to independently evaluate multiple procedures and processes, with a view to increasing their efficiency and productivity.
Management consultants such as Scott Gelbard can assist with the growth of companies seeking to emulate the major players in the US corporate landscape, advising them on how to increase their efficiency, competitiveness, and profitability. With a background in business consultancy and venture capital, Scott Gelbard has originated investment deals in the public and private sector, and works with an international clientele. For more information, check out Scott Gelbard on Twitter.
By planning and often executing an effective business strategy, a consultant can help a company of any size succeed where in-house skills or specialist knowledge of the issues involved are weak or absent.
The important things to bear in mind when considering whether to bring in a consultant are why one is needed, the length of an acceptable time-lag before results transpire, and whether the strategy is affordable.
