Name for someone who helps guide the business in the right direction?

Discussion in 'Growing and Managing a Business' started by Steven R, Mar 31, 2016.

  1. Steven R

    Steven R
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    Hello,

    New to the forum here..

    We have a profitable business but have no background in business and the way we work is project based. Money is going in all directions but our business is only making a small percentage and we need help to have a more solid structure. Can someone tell me what type of professional I need to contact to help me with this type of issue?

    Thanks in advance!
     
  2. Business Attorney

    Business Attorney
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    A good accountant is probably the best starting point, because the first step is knowing exactly where all the cash is going.

    There are also all types of business consultants that can help, but you need to be very careful that they are really knowledgeable about your specific industry and the issues you are facing. It is easy to spend a lot of money on consultants and have nothing to show for it.
     
  3. hanerykroze

    hanerykroze
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    There are many consultant services through which you can get more effective solutions for your business. They will help you company with a focus on human side of quality.
     
  4. Ady

    Ady
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    Look for a business consultant who will help you analyze your business and create solutions to help you grow and meet the business objectives. However, before selecting a consultant, make sure to check following:
    - Area of expertise
    - Skills
    - Industry specific certification
    - Local reviews and feedbacks
    - Their websites and offerings

    Hope it helps,
     
  5. CorporateViking

    CorporateViking
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    Hi Steven,

    I have a few questions I would like to ask you to better help point you to the right type of consultant. I also think I understand your problem and and have two immediate answers for you.

    What I think the Answer to Your Question Is: Two answers; Either a Business Plan Consultant or Business Growth Expert
    Why: It sounds by what you've explained that you are concerned you don't know what you don't know. It's often the case when in a new industry or new to running a business that you are unaware of what knowledge you are supposed to have and what practices you should be implementing. Not knowing these makes it impossible to make a timeline.

    The reason why timelines and plans are important is best understood by the Shell Oil Company, founded in 1907, it has seen almost every big name from it's time be acquired by it's competitors or grow broke. It's secret as described by a good friend of mine Robert Johnson, a Duke Corporate Education faculty member and global presenter, rated #1 by Financial Times and Business Week and inventor of the BCube. They had a meeting where they asked the questions, "What do we need to do in order to be in business and successful 100 years from now?" "How do we plan for that to exist and be sustainable?" By preparing themself with a hundred year business plan they were able to steadily move forward with minor reactionary alterations instead of anything that pops up heavilly affecting how they do business (such as market changes).

    It sounds like you know you've got a good thing going but your missing some core pieces in the foundation that allows an implementation of a strong autonomous sales funnel and core business practices. If you feel that you have a strong business plan document then you might do better with a Business Growth Expert like Walmart had to hire when they released they were growing to fast and gathering products at such a rate they were going growth themself out of business. They hired a completely different, though also awesome guy, who like me enjoys a nice Pinot Noir.

    Questions: (I will keep this vague enough to keep integrity with the forum rules)
    *What industry do is your business in?
    *Is the service you sell based on service (such as security work) or part based (such as selling kitchen cabinets?)
    *Do you store product (such as a the office/home/warehouse)
    *Is there a portion you can automate without loosing quality of service? (If you deliver books can you use a fulfilling house to handle all the extra work and just profit stronger for example)
    *What are your biggest expenses at the moment?
    *What percentage of your monthly income is your operating cost?

    I have lots more questions but these are a few of the ones you would be asked by a consultant.
     
  6. VerdinaNET

    VerdinaNET
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    Better hire some good business consultant. As a person new to the company, consultants view the situation from a fresh perspective.
     

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