Many Businesses are struggling amid high financing cost, cheaper goods from overseas, high taxes, low productivity, and sluggish consumer demands.
Some are turning to Consultants. Can these Consultants perform miracles or are they just gimmick?
Number Crunching
Consultants work with data. They pretty much analyze those data, and detect for any inefficiencies, lags, etc.
Some are exceptionally good at looking at bigger picture, i.e. the environment the Businesses are operating in. What risks are involved, what their competitors are doing, etc.
Yet, some are barely good enough at crunching numbers and presenting pretty charts.
Highly Paid Scapegoat
Quite often, Business Owners already figured out what they want to do, e.g. layoff, salary freeze, etc.
Rather than getting their hands dirty, they assign Consultants who are willing to give recommendations aligned with their original proposals
Risk
Most Consultants avoid risks. They are good at doing risk analysis, but not necessarily risk management.
On the other side, Business Owners are good at exploring opportunities despite risks prevailing in front of them.
Basically, Consultants can advise how to make Businesses survive in challenging market; but they are unable to advise how to grow the Businesses
Lack of Ownership / Decision Making
Consultants don’t own the Businesses. They, understandably, are not accountable to the future of the Clients and the Employees / ex-Employees.
Decision making lies on the Clients. Tough times call for tough measures
Sometimes the Clients must ask themselves before taking any action, “do the Consultants really care about the Businesses going forward?”
Results
Not all Businesses that engage Consultants will survive. Cash-burning Startups, Businesses adversely impacted by regulations, low-automation Manufacturing Businesses, etc. may be just buying their time before closures.
Still, there many Businesses that had been transformed successfully thanks to the Consultants.
Summing up, Business Owners may expect Consultants to deliver recommendations on paper ONLY. Business Transformation does not end at the hand of Consultants. Assembling a Business Turnover is a relentless task that Business Owners should carry on post deliveries by Consultants.
Disclaimer: NOT FINANCIAL / INVESTMENT ADVICE. This article is of writer’s personal opinion. Any information contained here is for education and informational purpose only. Readers should seek other sources or professional advice for further clarification where deemed necessary.