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As a business founder, one of the most important things you need to do is decide how you’re going to spend the resources you have (not just money but time and attention) to create future success – to take advantage of opportunities, insulate yourself against problems and boost revenue.
One of your options for spending money is using consultants.Many of them promise great results for your business, but unless you have a clear idea of what you want and what they can do for you, it can be difficult to translate their fees into value for money.
Today we’re taking a look at strategy consultants, so you can make an informed decision about whether you need to find growth strategy consultants as a matter of urgency.
Setting Up a Business
When you’re setting up a business, you can give yourself a real advantage by writing a comprehensive strategy document early on. Your strategy tells you how you’re going to go about achieving your goals, what your red lines are, and what your priorities are. A good strategy document is your key to building a coherent brand that speaks clearly and persuasively to your customers, and to expanding your business in a stable and sustainable way rather than overcommitting resources and unbalancing your business.
At this time, your experience in the world of business may be at a low – you know about your industry, you’re an expert in your unique idea that’s inspired you to start your own business, but you’re not necessarily experienced in the market as a whole. Creating a strategy requires a lot of insight into the theory of how businesses operate, and the ability to predict how things will look within five or ten years. Spending some money on a consultant with the kind of expertise you’re lacking could be a very sensible move for you.
Making Changes
No strategy should be set in stone. Whether it’s because of changes in the market or changes in your own life, it’s important to be able to adapt and make sure your business is working for you. Many people change what they want out of life as they get older, as their relationships change and especially if they have children. At times like that, checking in with a consultant can help you take a step back and see the wood for the trees. You can talk through where you stand with an expert, crystallise what your new priorities are and find ways to embody them in the strategy of the business going forward.
In many ways it’s easier and more productive to have this kind of conversation with an outside consultant who has a more neutral point of view on the issue than someone you’ve built a good rapport with but who works within the business.
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