Five important things to consider when choosing a strategy consultant - The Finance Team

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Five important things to consider when choosing a strategy consultant

One of the most challenging things that a company seeking strategy advise has to do, is to get to grips in really understanding what some of the bare bone essentials are in choosing a strategy consultant.

You thought launching rockets was easy! You have not yet met some of the strategy consultants! RELAX. It’s much less painful if you take a methodical approach as discussed in this blog.

First off, the very process of creating a business strategy for your business can in itself be challenging, even for successful business owners and entrepreneurs. Finding the right consultant to craft this strategy makes all the difference.

Whilst the selection criteria may vary from one business to the next and regardless of your operating industry and business model, the strategy consultant you eventually consult should possess characteristics that are able to deliver the strategic insight you require and, with or without the consultant, needs to be practical and implementable.

Here are some of the essential considerations when selecting a strategy consultant.

1. Walk in my shoes

The strategy consultant needs to know his stuff and understand your market and industry. To achieve your business goals and objectives, you need to find a consultant that really understands your industry and the challenges your business is up against.

2. Flexibility and Adaptability

Since every business is unique, select a consultant that is able to adapt to your needs and requirements. A one-size fits all approach is bad for business and bad for you.

3. Tools to do the job

The bottom-line of your business strategy is that it needs to grow the business and mitigate challenges that impede such growth. Stay clear of any consultant that immerses you in a whirlwind of jargon and one-liners that can be regurgitated from a strategy book purchased from the local book store. Instead, engage with a consultant that takes a systematic approach to really engaging you and properly analysing your business and challenges. A solid diagnosis of the business is half the battle won.

4. A practical approach

A critical facet is the ability to offer pragmatic answers to your business’ problems and challenges. The consultant should have experience in putting on the table, practical business strategies that embody quick-wins and good implementation plans. Ideally, the strategy consultant should be willing to serve in an advisory role throughout the implementation process.

5. Track Record

At the end of it all, you want results. The strategy consultant should be in a position to produce a list of clients who are willing to vouch for the quality of professional service delivered.

Photo credit: prco.com

 

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