Updated: Oct 27, 2020
Do you feel anxious and overwhelmed with all the tasks that you have to handle? Do you have the time and skills to identify pain points that your business might have? Would you consider hiring an expert to help you? But what is a Small Business Consultant? What is the difference between a business consultant a business coach? What are the benefits of hiring one? This is a guide to hire the right consultant.
1 Small Business Consultant
Let's start by defining the role of a Small Business Consultant. A business consultant is a an expert who helps Entrepreneurs and Small to Medium size businesses to grow and sustain their company, and overcome their business challenges. The business consultant helps improve the effectiveness and efficiency of a business, by analyzing the current situation, identifying the problem, and designing specific solutions to be implemented.
2 How does a Small Business Consultant work?
Initially the Small Business Consultant will get to know your business from top to bottom by following their specific approach and methodology. It is important to understand your strategy (mission, vision, values, value proposition...) as well as your operations in different functions. The business consultant needs to see how your business operates. Then will come the time to assess your current situation and identify your problems. Different analyses will be conducted in order to draw the full picture, to assess your strengths, your weaknesses, your capabilities: strategically, operationally, and financially. Based on the diagnosis, it will be possible to design solutions that will be custom made to respond to your specific challenge.
3 What types of services are offered?
Different types of services are offered such as identifying a problem, finding new opportunities, creating a new product or service, bringing change, looking at the competitors, restructuring a business, realigning strategy and operations... You can found consultants for Marketing, environment, Business, Financial Planning, Accounting, Strategy...
4 Why do you need a consultant?
Although it might be difficult for you to delegate or ask for external support, hiring a small business consultant will help you in difficult times. Because being a business owner is hard, having an expert by your side can be a relief. Hiring a business consultant has several benefits such as:
Objective and Unbiased View: An external expert will bring a fresh pair of eyes that can bring a new light to your current situation. Sometimes when you are too close to a situation you can't really see and identify the problem.
Save time and money: Timelines with a deadline should be agreed as well as the cost of the service. It will be cheaper than hiring a full time employee.
Innovative ideas: Thinking outside of the box, bringing new ideas are another benefit of hiring a consultant.
Doing the dirty work: A lot of issues might be pressing but require time and efforts to be done, such as improving your business processes, conducting detailed financial analysis. A consultant comes in a get his/her hands dirty in order to bring change.