In these times of growing financial crisis, value for money becomes one of the most important considerations for the business owner. You can’t throttle spending altogether – in fact to do so would create far more problems for your business. It remains as true in a downturn as in boom times that you have to spend money to make money. What you need to do going forward is have a much forensic attitude to value for money: what will give you a return?
Today we’re looking at consultants. It’s possible to spend significant sums on consultants and in turn see either significant return, or no noticeable savings or increased revenue. Let’s take a look at which consultants give you that all important value for money.
Optimisation and Avoiding Waste
One thing business consultants can do is help you optimise your business processes for efficiency, avoiding the waste that can bleed profit out of your revenue. From the operations consultant who can help you eliminate inefficiency from the physical processes of your business, from manufacturing to the point of sale, to the business strategy consultant who can ensure Return on Investment is a core value of how you do business and show you how that can express itself in every decision you make, this can be an extremely worthwhile way to spend that consulting budget.
The other important role for consultants and agencies is in finding you ways to boost your revenue. A marketing agency can be the most efficient way to do this – it’s possible to spend a lot on digital marketing and not achieve close to your potential reach. The experts know how to minimise spend with tactical keyword bidding and identify the specific audiences that will act on those adverts, boosting your RoI.
The Most Important Thing
What’s all important is not what consultants you hire, but your own attitude. You need to know what you need from the relationship in concrete, quantifiable terms. If consultants don’t have a goal to work to, they’re constantly stuck in a grey area between success and failure and you’re wasting your money.
Think about the specifics of what you want to achieve, and lay these out – with a trusted and experienced friend as a sounding board – before you start sounding out consultants. With a properly thought out brief to work from, they’ll know how to help – or if they actually can produce the results you’re looking for.