Consultancy is a well-known, esteemed service that many businesses engage with to advance themselves. The benefits consultants can provide are irreplaceable. As consulting marketplaces are  on the rise and consultants are becoming far more accessible, this provides any business with the opportunity to connect with a vast range of experts. But what is the true value of hiring consultants?

We are all familiar with the well known proverb “knowledge is power”. Right now, in the crux of the digital age, an abundance of information and advice is available at the touch of your fingertips. However with over saturated results when Google is your go to and time is not on your side, who do you turn to? 

Consultants. American Professor of Business Administration at Harvard Business School, Michael Tushman, approached the notion that the success of a firm’s dynamic is achieved twofold – “a game of executing your existing strategy better than anybody on the planet… The second game is exploring into unknown futures”. This two part “game” is essentially referring to these critical components: refinement and innovation. 

The importance of consultants

That is where consultants come into play. Their acquired knowledge from years of experience has the opportunity to be pivotal in improving the internal mechanics of an organisation, decomposing issues down to their core, and constructing original strategies for firms to implement. With little to no emotional investment in a business, their sole purpose is to offer advice from an objective standpoint. Management within organisations has their own traditional systems and ideology which may be hard to divert from. When you’re analysing a problem day after day with an emotional bias, solutions may not surface as easily as hoped or it may even be that the issue goes unrecognised.

Finding someone with a new lens, providing you with a fresh perspective to implement and execute the most effective initiatives will advance your firm exponentially. With a broader knowledge and insight into industry trends and technological changes, an expert can identify the changes needed for a business to succeed. These consultants with niche expertise and an entrepreneurial edge simplify businesses’ concerns in a value-effective manner that doesn’t diminish a firm’s finite resources. The stresses of time constraints, labor capital, and the emotional toll that surface through these dilemmas subside through the acquisition of consultants. Looking through a glass window, these specialists are known to ideate and transform the structure of a business, streamlining every process from its corporate structure down to data analytics or finding a framework to launch a new campaign. 

Why hire a consultant?

Specified knowledge and expertise 

Small to medium-sized businesses may not have all the tools and knowledge within their infrastructure. Consultants pierce through a business’ veil to provide industry-specific expertise and fill in the gaps where a business may be lacking and broaden their network of resources. 

Identifying issues 

Consultants have a wide breadth of experience and may be able to identify issues and inefficiencies a business cannot. Being impartial to the organisation, they can offer advice from an outsider’s perspective with no strings attached. 

Cost and time savings 

Consultants are typically hired on a short-term basis and paid for only the work they provide. They are there to satisfy a business’ needs and solve specific problems. With a diverse range of platforms, the ease of hiring a consultant means a business no longer needs to dedicate the time and resources to find a reliable and trustworthy long-term expert to solve a short-term issue. 

Making the most of in-house talent 

Working with a consultant may pave the way for employees within a business. They have the ability to transfer their knowledge to positively impact the way in-house employees approach their work. Consultants have the potential to influence something as substantial as upcoming projects, or contrasting, influencing day-to-day operations. 

Inspiration and change

When a business becomes stagnant and growth isn’t pronounced, a consultant can catalyse ideation and innovation to change the dynamic of a business. With comprehensive knowledge of industry and market trends, they can provide valuable insight to keep a business relevant. 

Change is inevitable

According to the principle of inertia, an object will continue its current motion until some force causes its speed or direction to change, a tendency to remain unchanged. We all love the comfort of doing what we know and are used to. As individuals, we are all resistant to change to some degree and when the time comes, it may seem uncomfortable and confronting. But without change, we would be listening to screechy gramophones, watching television in black and white and searching for services through the Yellow Pages.

Change within an organisation should be viewed in a positive light. Embracing a positive change strategy is essential for the advancement of an organisation that will reap unlimited benefits. Businesses that are stuck in their ways are not opening themselves up to the opportunity to grow and often find themselves in a stalemate. In today’s modern landscape, consumers’ demands seem to be ever changing, opening up the possibility to deliver products and services to meet these needs and wants. This is why the ability to be dynamic and adaptable should be a top priority in a business’ mission and ethos.

The buzzword “change” can be realised in various ways, no matter which stage a business is in. Whether it be changes to a website design to ensure its aesthetic is pleasing and user-friendly to the intended audience, changes to leadership by collaborating with new project managers to guide a new initiative with a creative perspective, or changes to the infrastructure of a firm, change is the foundation of growth.

Optimise your business 

Finding new ways to deliver a business’ offerings should be at the forefront of employee’s minds. In today’s competitive market landscape, businesses must rely on people with specialised and niche skills to stay ahead of the pack which is why connecting with the right expert is of the utmost importance to overcome bottlenecks and achieve their goals. Consultants are there for firms to identify the areas where change is needed and optimise their already acquired in-house talent. 

Whether businesses want to foster a culture of innovation or need an immediate solution for a time-sensitive project, a consultant is available at arm’s reach. The advantages of turning to consultancy are endless and bound to conclude with a quick win. Now is the perfect time for businesses to execute their existing strategies and explore the unknowns.