August 26, 2019
5 min read
There are various kinds of business consultants who can assist startups and small businesses in managing their business more efficiently.
A business requires a consultant when it wants to access the expertise and skills of the consultant without actually hiring the expert as an employee or outsourced expert. The term business consultant is a broad term, and there are diverse industries in which the business consultant would hold subject-matter experts. There are different types of consultants that can provide consultancy services.
A business consultant is a domain expert who provides guidance and support to businesses for their day-to-day operations as well as technicalities that arise while managing or expanding the business. A company pays only for the consultancy received from the consultant or the short-term services availed. The need to approach a business consultant arises when the business comes face-to-face with an issue in a particular field of business.
There are various kinds of business consultants who can assist startups and small businesses in managing their business more efficiently and provide the right mentorship and support required by entrepreneurs.
Management consultants provide support to businesses for addressing the concerns relating to the general management of the business. Management consultants provide guidance to the managerial team of the business for improving the overall performance of the business. This type of consultants helps the business in drawing processes and analysing the performance of the strategies of the business.
Strategy consultants guide the startups on drawing well-defined strategies to deal with corporate functions, government policies, economic policies, and finding the best ways to implement these strategies effectively. Strategy consultants can provide fresh insights and a new perspective to top managers of the startup as Directors, shareholders, CEO, CFOs, and senior managers. Strategy consultants can be consulted by the business for getting ideas on the overall efficient implementation of business strategies.
Financial consultants provide support to businesses to address the issues relating to the financial management of the business. Financial advisory consultants can assist businesses in segmenting their finances and drawing a sufficient financial budget and plan. Financial consultants can also be consulted by startups to get insights on their business valuation, risk assessment, tax structuring, accounting, bookkeeping, payroll management, opinion on financial transactions, drawing financial statements of the business, and forensic financial audit of the business.
When it comes to startups, financial consultants can provide guidance to a startup in drawing up its funding strategy, finding the right channels of raising funds, guiding the business on drawing up the best investor presentation or pitch deck, and managing the funding raised in the most efficient manner.
Marketing consultants can guide businesses on marketing and advertising their business on online and offline channels. Marketing consultants can help businesses in analysing marketing strategies, branding of the business, and promoting the business. Marketing consultants can also provide the right approach to the business for reaching a more significant portion of the target audience and leveraging online networks for communicating effectively with the customers.
HR Consultancy services are the most common services required by the business. HR Consultants help businesses in searching and recruiting the right talent for the business and building a good startup team structure. HR Consultants also provide support to businesses in changing the team structure, drawing up employment documents, talent management, and employee training and learning. In larger organisations, Human Resource consultants also provide support for managing industrial labour relations, compliances with the labour laws, succession planning, mergers and acquisitions, and complaint redressal.
Technology consultants provide the right approach to businesses for choosing the right technology in business, developing new technology product, implementation of the latest technologies in improving the products and services of the business, and troubleshooting technical issues. With the advent of Artificial Intelligence, Blockchain Technology, Machine Learning, Nature Language processing, or Big Data, it has become difficult for businesses to manage their technology products on their own. This is where technology consultants can add value by introducing scalable tech architecture and integrate advanced technology in the business.
Legal consultants are usually lawyers, advocates or paralegals who can provide businesses with the right strategy in managing its legal affairs efficiently. Legal consultants can guide businesses on their business incorporation, licensing and registration, IPR Protection, litigation, drafting and vetting of contracts, corporate legal relations, taxation matter, property matters, legal opinion on business transactions, consumer grievance redressal, statutory compliances, and regulatory compliances.
Technical consultants can help businesses in drawing and improving their strategies for technical management of the business such as cybersecurity, troubleshooting, data analytics, day-to-day IT operations, and IT forensics. Technical consultants can provide insights to the business on any bugs or maintenance issues it faces.
The need for consulting a business expert is unavoidable, especially in the case of startups and small businesses which don’t have the requisite in-house support due to their small scale of operations. It is often seen that businesses end up shutting their shop due to lack of proper guidance and know-how of the intricate business processes.
SeekWiser recognises these pain-points of a business and connects them with the best business consultants in India and across the world. SeekWiser has a wide network of the different types of consultants mentioned above and provides an avenue for consultants and users to connect hassle-free with its avant-garde online platform. You can consult SeekWiser’s Business consultants by giving us a call at +91-8010880066 or sending us an email at [email protected].
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