Many new business owners hold a common assumption about management consultant services – namely that they’re only for huge, well-established organizations. In reality, business management consulting can improve performance at companies of all sizes. Consultants provide high-caliber advice and information on a variety of topics, empowering businesses to run more effectively.
To dive into more detail on the importance of small business management consulting, let’s consider the roles a management consultant often takes on. As we’ll see, several benefits arise from contracting for business management consulting.
Accounting and financial planning. It’s common for even smaller firms to hire an accountant for tax preparation. It’s also not unusual for business owners to turn to their accountants for financial advice. Consultants can troubleshoot weak profits or address any other financial hurdle. Effective consultants thrive in such problem-solving roles; they are action-oriented masters of change.
Marketing advice and materials. Small business management consulting agencies are happy to provide marketing guidance. Larger management consulting firms may retain a marketing specialist, while experts at smaller companies are often adept at providing advice across a wide range of business topics.
Solving pressing problems. Small business leaders often rely on consultants for troubleshooting. A consultant may be asked to figure out why certain employees are not meeting productivity demands, and to provide suggestions on how the situation could be turned around. Whatever major problem is looming over your company, a management consultant can help you solve it.
Checking a company’s overall health. Small business management consulting experts can also run a general diagnostic and offer recommendations on how to improve a company’s performance.
Discretion. Discretion is consultants’ modus operandi. Indeed, consultants who can’t keep private company information to themselves soon find their client list dwindling. You can trust an established business management consulting firm to keep sensitive information private.
Real-world, hands-on solutions. Some problems just can’t be solved by reading a book. A management consultant looks at your business, your numbers and your challenges. Because they’re dealing directly with your situation, management consultants are highly effective and provide an excellent return on investment.
Expert management advice. Ultimately, the most important benefit of hiring a business consultant is that he or she will be able to provide trustworthy suggestions about the best ways to steer your company forward.
The entrepreneur is a person who is dedicated to an idea and who has the kind of drive required to make his or her dream a reality. However, entrepreneurship does not automatically endow a person with good management skills; these must be learned over decades. Small business management consulting firms can educate company leaders about the best way to manage all aspects of running a business, from human resources to tax audit preparation.
Barb is the CEO of Fisher Bookkeeping, an outsourced bookkeeping consultancy that provides small businesses with a full-service financial department. Her favorite aspect of work is to break down the accounting to meaningful bits, so entrepreneurs can make a powerful difference in their own business. She's also a power lifter (squat: 215, DL: 270).