As a business consultant with over twenty years experience in building successful companies, I have learned a few things along the way in starting up companies. This blog post will detail what good business consulting is all about, and what an effective business consulting process is. You will know what to expect from a good business consultant by reading this post. As a business owner, you will also see how going through a good business consulting process is very beneficial for your start up venture. Experienced and effective Business Consultant have a business consulting process for startups which can cover the following areas…
Business Start-Up Analysis
— Evaluate the Opportunity
- Opportunity timing window
- Profit potential for an decent return?
- Can the opportunity be expanded? variegation options?
- Obstacles
- marketplace needs
— Develop a Sound Business Model
- effectual Barriers to Entry
- Identify and Define Customers
- Supplier Relationships and Buyer Conditions
— Perform an In-depth Resource Audit
- The Business Consultant analyzes the existing Skills and Resources
- Resource Gap Management Plan
- Internal Skills and Resources Needed
- Lacking Resources to be Out sourced
- Unique Aspects of Business Model
- Cost minimization Strategies for Resources
- Regulatory Compliance
- Critical Milestones which will minimize the Ventures overall Risk
- Contingency Resources
— Acquiring the Needed Resources
- Control Mechanisms
- Motivations of Resource Providers
- Incentives
- Will opportunity develop an adequate return?
— Start Up Venture Deployment
- Management Systems
- Attracting and holding good Employees
- Role of Entrepreneur
- Management Delegation
— Acquiring and Distributing Value
- Harvesting Options: Be Acquired, Merger, IPO, Secondary Offerings, Sell Company, Liquidate and Distribute
- After Tax Yield Considerations
- Factors triggering a Harvest
- Factors preventing Harvest
- Consideration of Company Participants: Creditors, Investors, Partners, Owners, Founders, Key Management & Employees, The
Hiring a Business Consultant is an Investment in the Success of the Start Up
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 but be sure to hire the right one for your type of business and need. Experienced and knowledgeable Business Consultant can bring a startup that extra edge needed to effectively compete and succeed.
About The Guest Author
Frank Goley is a Business Plan Consultant for ABC Business Consulting. He is a professional in enterprise planning, advertising and marketing, strategic planning, enterprise turnarounds, online advertising and search engine optimization (SEO). Frank has created over 150 Business Success Content Articles and E-Books. He is author of a Business Plan Guide and writes the Business Success Blog. Frank truly enjoys helping companies to start, develop, turnaround and realize success!
