Business Consulting Firms

This post outlines another source of programs to help you grow your business

So far in this series, I described free to low cost non-profit programs to improve your business. Today we will briefly describe business consulting firms. Business consulting firms offer specific advice and services for fees designed to maintain a profit for the consulting firm. Therefore, their services typically cost significantly more than non-profit services. Many startup and small-business owners cannot afford to pay consulting fees.

However, you may see a good return on investment for consulting as your business revenues and profits increase. For the purpose of this post we do not consider professionals such as Certified Public Accountants or Attorneys as consultants. Every small-business owner should seek the advice of these professionals in the start-up and ongoing growth of the business.

The following tips may help you select the right consulting firm for you.

• Analyze why you may need a consultant. While many consultants help business owners analyze problems or obstructions to business growth. You can save high costs by analyzing your own needs first. I don’t mean that you rely on your own understanding for deep analysis. I refer to identifying whether your need help with web marketing, sales, financing. In other words, you identify the general type of problems that requires consultation.
• Find the right consulting firm for your business. Most consulting firms specialize in certain aspects of business: market research, business analysis, marketing, production, manufacturing, financing, human resources, payroll, and more. Few try to resolve every problem a business may face.
• Research several consulting firms before signing a contract. Explore their reputations for competence and success by talking to your local Small Business Development Center (SBDC), Small Business Administration (SBA), Service Corps of Retired Executives (SCORE), Chamber of Commerce, and other business owners.
• Clearly clarify and outline in a written document the services provided and expected results attained of the consulting. Your SBDC usually maintains a library of sample contracts and legal forms for you to review. Talk to other business owners who paid consultants about the contracts they signed.

You may also want to check out these other sources of tips on hiring a consultant: Documents Club Express, Psymesconsulting, Bay View Hunters Point, Social Media Today, and others.