So, what does a business consultant do? Basically, business consultants offer consulting services that can help a business owner to improve their operations, plan for the future and become more successful.
Because sometimes, a business owner is just too close to a specific challenge to clearly see a solution. And that’s why they can be valuable to a business because being a business consultant means you’re able to bring in a different perspective as well as bring in the tools that your clients need to manage the bumps that come with running a business.
What business consultants do is they increase efficiency and productivity, evaluate marketing indicators and then compare them to projections.
This can then help you plan for the future and create an action plan by developing a written business plan or marketing plan.
Some of the main specialty areas of business consultants are:
- Strategic planning
- Management and leadership development
- Preparation of written plans and procedures
They can also develop training modules for your staff or help you prepare sales presentations for your clients.
What Does A Business Consultant Do – Step By Step Process
Here is a general step by step process of what a business consultant does for a first-time business owner. It’s good to note that they’re not there to do the work in place of the business owner.
1. Figure out where you are in the startup process
When an aspiring entrepreneur has a business idea, and they say, “Okay, I want to do this, but how do I do it?”, and they hire a business consultant to assist them, what the consultant would normally do first is they figure out where they are in the startup process.
Some questions that a business consultant would normally ask are:
- Do you have a business plan?
- Do you have an operations plan?
- Do you have a strategic plan ready?
- Do you have a timeline?
- Do you have financials in place?
- Where are you in terms of execution?
- Have you developed any evaluation programs?
Getting answers to these question will allow a consultant to see exactly where a client is. They’ll then know exactly what the client needs or what they need more of in order for the business to grow and go to the next level.
2. Develop a strategic plan and take action
The next step would be applying different frameworks to come up with the most strategic approach to execute a plan.
They can give you a list of practical action plans that are the most strategic and the most value with the least amount of cost. They can also get you all the resources you need while getting everything in place.
Once the consultant and the business owner have chosen the most strategic approach and executed on it, they then apply evaluation frameworks to see how they can measure the actual results against defined metrics or categories that they want to be able to evaluate.
So in summary, what business consultants do is they figure out where you need to go, what your business needs to grow, evaluate and come up with a strategic plan, execute the plan, then evaluate the results.
They can really bring a lot of value to a business especially if you can’t break through to the next level, or worse, you’re losing revenue. Their goal is to find solutions that work in your business in order for your business to grow. The role of a business consultant is to improve your sales, profits and your systems with the goal that your business can run without you.
We hope you’ve enjoyed this post, “What Does A Business Consultant Do?” If you dream about running your own consulting or coaching business, watch our free webinar, 5 Steps To Starting A Consulting Business Or Coaching Business, here. Business consultants in Australia are currently earning up to $162,000 according to Payscale.
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