|
Info You are currently browsing the archives for the Business Consultants category. Categories
Latest Postings
Links
Archives
|
Archive for the Business Consultants CategoryGet Business Mentors and Advisors to Help You Start and Grow a Successful Company22. July 2010 by Frank Goley, Business Consultant for ABC Business Consulting.
Starting and growing a successful company is hard. Business knowledge and experience significantly reduce the learning curve and help put a company on a path toward success. There are many organizations out there that can help you, such as SCORE, SBA, SBDC and so forth. But dedicated volunteer advisors and mentors can be a real plus for a company needing expert help and direction. So the where can you find these people to volunteer their time to help you succeed? There are often local entrepreneurial and venture groups who have experienced advisors and mentors ready and willing to help you. Or you can do your own research for the right candidates and approach them. Better yet, there is a new organization called the Founder Space that links company founders with different types of mentors and advisors for close personal help and assistance. The website also provides answers to any questions business founders may have. Furthermore, it links angel investors with founder members. All of this for free. Can’t beat that! As a Business Consultant, I always encourage companies to have mentors and advisors who can provide non-paid, experienced and objective advice as a company forms and implements its Business Plan. Find yours today! Video Resource: How to Find a Good Business Mentor
Posted in Business Consultants, The Business Success Blog | Print | No Comments » A Business Consultant’s Process to Help a Business Succeed17. May 2010 by Frank Goley, Business Consultant for ABC Business Consulting.
As a business consultant and planner with many years experience helping companies to succeed, I have refined my business consulting process for best business results. This article will go into detail what a good business consulting process entails, and what a business owner can expect when working with an experienced business consultant. Steps Taken in a good Business Consulting Process – Learning about the Business § Tour the Company’s facilities § Read all the company materials § Meet with the Board of Directors, all executive heads, founders and owners, Department Heads and Key Employees. § Understand the product or service § History of the business § Business track record § How the business is run § How decisions are made § How problems and opportunities are handled § Company process, trade marks § Company’s competitive advantages § Financial track record § Banking and finance connections § How the company is organized quality control § Employee incentives, benefits, and wages § Meeting the company’s advisors and consultants – Identifying Problems § Problems seen by ownership and management § Problems/ issues identified by the business consultant § Business consultant given unrestricted access to the company so that problems can be identified § Identify revenue points and expense ratios for all products and services § Understand tax implications § Key: open, clear communications between the consultant and the company’s people. Trust is vital. – Identifying Opportunities § For every problem/issue, there is a hidden opportunity § Opportunities seen by ownership, management, and key employees § Opportunities discovered through the business consultant’s process § Understanding margins, sales history, and sales growth § Understanding and identifying new products and services – Analysis § Business consultant analyzes the identified problems and opportunities while keeping in mind, a clear understanding of the business § Business consultant decides which problems and opportunities are important and which are not § Identify potential future problems § Identify symptoms of problems provide certain conclusions and facts based on the analysis § Provide certain conclusions and facts based on the analysis – Solutions § Business consultant provides a plan which provides solutions and identifies opportunities § Business consultant illustrates how certain expenses can be reduced and how certain profit areas can be maximized – Feedback / Adjust Plan § Business Consultant receives feedback from the business and its advisers on the proposed Business Plan § Business Consultant oversees implementation of the business plan § Business Consultant tracks progress of the plan § Plan is readjusted as necessary moving forward § Business Consultant ensures plan is integral to the Company and intertwined into the fabric of the company. When an Entrepreneur is thinking about starting up a new business, A Business Consultant can apply a given Business Start-Up Process Analysis to determine if it is a feasible opportunity: Ø Analyze and Evaluate the Opportunity
Ø Develop a Business Strategy & Model
Ø Resource Audit
Ø Acquiring & Leveraging Needed Resources
Ø Venture Deployment
Ø Getting and Distributing Value
When considering purchasing an existing business, a Business Consultant can employ an effective Business Acquisition Analysis, such as: v Products & Services Analysis v Management Team Appraisal v Operational Analysis v Market Position v Competitive Factors v SWOT Analysis v Financials Analysis v Valuations v Risk Assessment If the Business Consultant is worth his salt, then the fees paid for the consulting will more than pay for themselves in the extra generated business profits. Ask the consultant what his or her process is, it will tell a lot about their capabilities and experience. Hiring a business consultant is an investment in the future success of your business. Posted in Business Consultants, The Business Success Blog | Print | No Comments » How a Business Consultant can help your Company Succeed16. February 2010 by Frank Goley, Business Consultant for ABC Business Consulting.
A business consultant has many roles and can help an old company re-new itself and find itself again; help founders start and develop a new venture or project; help to turn around a company fraught with problems; help a company identify new opportunities and markets; or help a company develop a business success plan. A good business consultant has experience working in and with a broad range of businesses. An experienced business consultant has broad and narrow stroke experience and typically, twenty years or more of accumulated business experience. Having an MBA from a good business school isn’t enough. The consultant must have solid real world experience with many types of companies to be an effective consultant. So what does a business consultant do? First and foremost, a consultant gets to know and understand your business. As the business owner, you know more about your business than anyone else. For this reason, a good business consultant will take the time to learn from you, your department heads and key employees the ins and outs of your business. The consultant then goes to work identifying problems and opportunities. Those may be certain problems and opportunities you point out to the consultant, but also a good consultant will have a process to identify problems and opportunities which a business owner has not identified. A consultant brings fresh eyes, fresh experience and an open mind to your business enterprise, providing a completely different perspective than that of someone who has been running the company for some time or someone looking to start a new venture. A business consultant will then analyze this gathered information in order to provide solid solutions and plans for the future. Often business ownership is so focused on working “in” the business that short term and long term outlooks and strategies are overlooked and neglected. The consultant re-focuses a company’s strategies in order to solve immediate problems, while taking advantage of future opportunities. Steps taken in a good consulting process include: learn about the business; identify problems; identify future opportunities; perform analysis; provide solutions through a concrete plan; listen to feedback and adjust the plan; and implement and track the plan. The consultant considers all company input to develop a business plan that will be effective. The consultant listens to the opinions of the company’s advisors (accountants, lawyers, bankers and other advisers). The consultant can use Delphi sessions and red teams which contain industry experts and competitive viewpoints. The consultant also listens carefully to the view points of the company’s ownership, founders, board, top management and key employees. A final business plan is agreed upon and signed off on by the company with the consultant helping to implement, track and re-work the plan as necessary over time. When an entrepreneur is thinking about starting up a new business, a business consultant can apply a start-up analysis to determine if it is a feasible opportunity, which includes: analyze and evaluate the opportunity; develop a business strategy and model; resource audit; acquiring and leveraging needed resources; venture deployment; and getting and distributing value. When considering an existing business acquisition, a business consultant can employ an business analysis, such as: products and services analysis; management team appraisal; operational analysis; market position; competitive factors; SWOT analysis; analyze financials; valuations; and risk assessment. A business consultant’s derived value pays for itself. What you pay in fees for a good consultant will pale in comparison to the profitability the consultant’s strategies will create. A business consultant is an investment in the future success of your company. Posted in Business Consultants, The Business Success Blog | Print | No Comments »
|
|
