60 % of business closures that happened due to the COVID-19 crisis are now permanent.
If you are one of those organizations that find it challenging to remain afloat and adapt to the recent market changes, let alone generate revenue and drive returning customers, then you’ve come to the right place.
From digitalization to identifying newly arisen business opportunities, your organization may stand to gain a lot by engaging an expert with a firm hand of the markets’ pulse.
In this article, we will highlight the benefits of employing a business growth consultant and the steps to choosing the right one for your needs.
Let’s dive in!
At some point in their life cycle, most businesses will plateau, hitting certain barriers that slow down or stifle further growth.
These obstacles may be:
Lack of insights
Not taking the time to understand customer needs
Absence of ‘growth mindset‘
Ineffective business planning
Failing to meet customer expectations
This is where a business consultant can make all the difference.
These experts help organizations improve performance and efficiency as well as leap ahead by recognizing opportunities for internal process improvement as well as growth potential through optimized or new streams of revenue.
Their solutions typically cover the following key phases:
Discovery and discussion: This phase focuses on the business diagnosis and needs analysis. The business growth consultant conducts in-depth research to gather as much information about the client as possible. These experts then ask a set of questions related to the client’s target market, major competitors, business goals, key challenges, personal concerns and more.
Long-term strategic planning: Based on this evaluation and gathered data, business consultants can then take the project forward and create a strategic action plan. This plan will focus on the business’ long-term goals, the tools and expertise needed to achieve them as well as the potential opportunities for improvement.
Training: This step involves training where the business growth consultant makes sure the organization’s team fully understands the new business strategies including the next steps they should implement.
Action plan implementation: During this stage, the clients execute the strategies and tactics provided by the consultant. With responsive monitoring and supervision, this phase will make sure the organizations are on the right way to achieve their business goals and drive measurable results.
Evaluation: Once the client executes the strategies, the job of the business growth consultant is not over yet. At this phase, the clients together with their consultants evaluate the project to determine how successful the implemented strategies are.
In addition, some business consultants may also offer on-going training and support and collaborate with their clients long-term, whenever they need help and professional advice on specific areas in their businesses.