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Archive for the ‘Business Consulting’ Category

Business Consulting Services – Enhance Business Profits

Friday, April 20th, 2012

A competent consultant helps in selecting the effective business practices that can help in maximizing potential irrespective of the type and size of the company. As every business has different reasons to hire a consultant, there are few reasons to take business consulting services that can help to enhance business profits.

1. Business Overview: A complete business review is essential to analyze the past and present performance. The evaluation helps to identify the opportunities that can benefit the business in future too. A consultant will not only evaluate the performance but also provide recommendations to include within business strategy for a successful venture.

2. Sale Conversions: Every company desires to increase their sales figures by effective marketing strategy and right professional attitude. However, there are cases when businesses are unable to convert the sales leads into confirmed sales. In such cases, a consultant will provide proper advice to communicate with the clients and sales prospects. They will also suggest the need to have print materials like brochures, marketing e-mails, leaflets etc.

3. Including Internet in Business Strategy: The power of Internet can’t be overlooked in today’s competitive scenario. The website shouldn’t be only good-looking but also be user and search engine friendly. With a website, a firm will have a wider platform to market their products and services to a global audience. With the right business consulting strategy, an organization can gain profits by using Internet effectively.

A business consultant company employs business consultants who are adept with the latest market trends that can work for the type of business to grow and expand in this cut-throat competitive world. It is only important to realize the need to hire a business consultant and consider their advices and recommendations for your business. The consultant will consider all the pros and cons of every strategy before implementing it on the business. This will help you in having better business insight and better business possibilities.

What’s the Difference Between a Business Coach and a Consultant?

Friday, April 8th, 2011

I get asked this question often, and it’s confusing because some people use the terms interchangeably.

The best way I can describe the difference is to explain what I do with my clients.

A consultant is hired to study a process or specific issue within the company, whether it’s cycle time reduction, cash flow, or whatever. He of she comes into the business, conducts interviews with the appropriate staff, and learns how the process is being completed now. The consultant then looks at what the outcome is expected to be, compares it to what it is now, and develops recommendations.

A business coach on the other hand does not take the time necessary to become a subject matter expert. He or she believes that the company management knows more about their business that he or she will be able to learn in a reasonable amount of time. The business coach facilitates a process that brings the management team together to solve the problem or issue.

Which way is better? A consultant is actually better if the problem is new to the business and the expertise, skills or experience doesn’t exist within a business. An example would be perhaps converting to a Lean Manufacturing System where outside guidance is needed for initial development and training. Hiring a consultant for a general business issue or strategic planning is perhaps not the best way to go. The consultant will need to take the time to study your market; your industry, your product and depending on the complexity this could take a lot of time. You as the business owner are paying for that time while he or she learns what you already know for the most part.

A business coach uses proven tools and processes to facilitate the outcome by using your internal knowledge and challenging you and your staff to defend your assumptions and directions. An experienced business coach will use his or her knowledge gained from other markets or industries to lead you toward new and different ways of looking at your business. This is usually much faster and less expensive. In addition the solution to the problem or the development of the strategic plan is yours, you own it and you’ve developed it with outside help. It’s not something that is presented to you in a formal document and left with you as someone else’s solution.

I do both coaching and consulting depending upon the application and the problem. If the business doesn’t have the knowledge internally I, or one of the members of my network will help them develop it. I till try to facilitate ownership of the solution to insure better execution.

For things like strategic planning, diversification, improving bottom line profits I take a coaching role. I use the knowledge available internally and provide my experience and tools to help them look at things differently and to develop custom solutions that are right for their organization.

Be careful when choosing with a coach or consultant. It’s relatively easy to get business cards printed and call your self one or the other. Look for background and a solid track record.

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