You need a Business Consultant – Five reasons why

Published on: May 15, 2023

    Gone are the days when entrepreneurs strived to do everything - finance management, marketing and sales, human resource management and the business. With too many things on their plate they realized they were always focusing on the urgent with no time to work on the important. Around three decades ago, the first Prime Minister of Singapore, Lee Kuan Yew's quote on outsourcing read: 'If you deprive yourself of outsourcing and your competitors do not, you are putting yourself out of business.' This applies to business consulting too as companies that do not seek expertise of the experts will lag behind those who leverage business consultants to expand and accelerate their business. A business consultant brings not only expertise to the table but also best practices gained from working with different companies. In addition, the consultant has a highly objective and neutral perspective thus lending a much enhanced professional approach. The era of entrepreneurs Digital transformation has become the order of the day and across sectors several new entrants emerged in the market with innovative concepts and new approaches to the ways business is handled.   These start-ups need the correct advice to enhance scope of their business and expand span of their market. To succeed and not just survive, businesses need to be aware of market changes and adapt their business and processes accordingly.  A business consultant has the right expertise and knowledge to help you with your company's strategy and goals. You will be able to make informed decisions and grow your business in a way that you aspire to. Working with a business consultant is similar to staying in the driver's seat and steering the business vehicle while you have the advantage of an expert and well-informed navigator guiding you till you reach your destination, namely your organizational goal. Fundamental reasons why today’s organizations need a business consultant are:
    • Cost control: A lot of effort, money and time can go into exploring the best strategy, plan or process for achieving business results. This indeed is an expensive learning method, and more time will go toward undoing or correcting a mistake which can be at the expense of business. Working with a business consultant will help in saving costs.
    • Objective perspective: An external consultant is devoid of bias or prejudice with respect to the people or processes and hence will be able to provide objective and honest views. The `third eye' will help in understanding subtle aspects that the stake holders of an organization may have missed. These aspects are critical for strategy and operations.
    • Creating a Road Map: A basic road map is essential for stability and success of a business venture. The business consultant has usually traversed the same path of a start-up to a successful business quite a few times. Consultants know exactly how to respond to the instability of the market, as they have dealt with such situations.
    • Expertise: The value of a business consultant lies in his/her expertise in analyzing and expanding any business. This coupled with extensive experience gained while working with several organizations helps in anticipating obstacles or issues. The business consultant helps the organization in preparation and proactiveness to deal with unprecedented situations.
    • Market information: Business owners are so caught up in internal activities that they tend to miss market activities which could result in missed opportunities and encountering of unforeseen threats. The business consultant is updated with the happenings and progresses made in the market. When a product or service is launched, the consultant can help conduct market research, create processes for branding, marketing, customer acquisition and service excellence.
    Ma Foi provides business consulting services across industry sectors. Ma Foi’s team of consultants have deep expertise in the key areas of strategy, business growth, human resource, legal and compliance management. Get in touch to learn how you can transform your business. Reach us at <+91 7305572111 / +91-44-49109999,>

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