Growing a business can be difficult, especially in the early days when you’re a sole trader or small team. Getting input from other people can be the difference between success and failure, so should you consider a growth consultant?
A business growth consultant is a professional who helps businesses grow by providing advice and guidance on various aspects of running a successful business. They can help with everything from marketing to financial planning, and can provide valuable insights into how to most effectively grow your company. If you’re looking to take your business to the next level, hiring a growth consultant is an excellent way to get started.
Speaking to someone with different experience than you can highlight issues and opportunities you might never have considered yourself. Let’s take a closer look at why you might consider hiring a growth consultant.
What do business growth consultants do?
Business growth consultants help small businesses by providing them with guidance and advice on how to grow their businesses.
They work with business owners to identify opportunities and develop strategies for expanding their businesses. This might involve market research, target market analysis, identifying new opportunities, and developing marketing plans.
In addition, they provide support and resources to help businesses implement their growth plans. For example, they might provide coaching and advice to help businesses overcome internal challenges that are preventing them from growing. This might include organizational development assistance, human resources support, process improvement advice, financial planning assistance, or operational guidance.
They can also offer valuable insights and expertise on how to best capitalize on those opportunities.
A consultant may also offer various specialist services such as social media management, search engine optimization (SEO), website design or development, or graphic design, to compliment the help and advice given.
All of this combined means a business growth consultant can have a positive impact on the client’s business.
They should provide you with a clear roadmap to gain the results you’re looking for. e.g. if you are a coach, course creator or consultant our Growth Jetpack product shows you a clear path to creating a high ticket product.
If you are considering hiring a business growth consultant for your small business, it is important to do your research to find one that is a good fit for your needs.
Be sure to ask for referrals from other small businesses and look for consultants who have experience working with businesses in your industry.
In addition, be sure ask about the fees charged by different consultants so that you can find one that is affordable for your budget.
What are the benefits of hiring a business growth consultant?
There are many reasons why a small business might benefit from working with a business growth consultant, the main being they can provide an objective perspective on the business, which can be helpful in identifying areas of opportunity.
Here are other key benefits:
- They can help you develop and implement strategies for growth.
- They can help you identify new markets and target customers.
- They can help you improve your marketing and sales efforts.
- They can help you streamline your operations to improve efficiency and profitability.
- They can provide valuable insights and advice based on their experience growing businesses like yours.
When you’re looking to grow your business, you may feel overwhelmed by all the options and unsure of how to achieve your goals. If you’re like most small business owners, you may find it difficult to find a plan to help you get started and that’s where a growth consultant comes in.
When is the best time to hire a business growth consultant?
There are different stages of business growth, and each stage presents different challenges. At each stage, it may be helpful to hire a business growth consultant to help you overcome these challenges and continue growing your business.
The first stage of business growth is the startup phase. This is when you are just starting out and are trying to get your business off the ground. During this phase, small businesses use consultants to help with market research, developing a marketing strategy, and creating a sales plan.
The second stage of business growth is the early growth phase. This is when you have started to gain some traction and are beginning to grow your customer base. During this phase, you may need a consultant to help you with scaling your operations, expanding into new markets, and raising capital.
The third stage of business growth is the late growth phase. This is when your business has reached a point where it is stable but still growing. During this phase, you may need a consultant to help you with succession planning, exit strategies, and merger and acquisition activity.
Do small businesses use consultants?
While it is less common for small businesses to use consultants, there are some instances where they may benefit from consulting services.
For example, if a business is not sure how to start developing their online presence, a consultant can help them create a website that is easy to use and looks professional.
Additionally, consultants may be able to provide advice on marketing strategies or how to grow the business over time.
For example, a fitness instructor who has an established business but is unsure how to increase their reach beyond the local area. Depending on the goals, they may be given advice regarding:
- Developing ideal customer personas
- Creating helpful written content that can be shared online
- Setting up a new YouTube channel to reach a worldwide audience
As they grow their reach, they may then return for further advice regarding how to create an online course, how to market this, and how to set up the landing sales pages required to convert prospects into customers.
However, because small businesses typically do not have the money or resources to hire a full-time consultant, this type of service is typically utilized sparingly.
How do you find a reputable business growth consultant?
When you are looking for a business growth consultant, it is important to find someone who has a lot of experience in the field. You want to find someone who has helped businesses grow before and who knows what it takes to get a business to the next level.
LinkedIn profiles are a great way to gain information about prospective consultants, for example where have they previously worked, have others given them recommendations etc.
It is also important to find a consultant who is willing to work with you on an ongoing basis. You want someone who you can trust and who will be there to help you as your business grows.
Finally, you want to find a consultant who is affordable and whose services fit within your budget. Growth consultants can be expensive, so it is important to find one whose fees match your current financial resources.
How much do business growth consultants charge?
Business growth consultants typically charge an hourly rate for their services, starting at £100 to £200 per hour for one-off discussions.
They may also charge a flat fee for specific projects, and in some cases they can be hired to work as a direct member of staff.
Of course, you’re not restricted to using a single consultant, as everyone has different specialities.Youu might gain advice from consultant A about market research and business planning, consultant B about marketing strategy development, and consultant C about sales training.
What questions should you ask a potential business growth consultant?
Hiring a consultant should be approached similarly to taking on a new member of staff. You should interview them to make sure they’re a good fit for you and the business.
Questions you should consider asking:
- What is your experience in consulting?
- What services do you offer?
- How have your clients benefited from using your services?
- How much experience do you have working with businesses in my industry?
- What growth strategies have you helped businesses implement in the past?
- Can you provide examples of businesses that you have helped grow?
- What do you think are the biggest challenges my business faces when it comes to growth?
- How would you go about helping my business achieve its growth goals?
- What are your fees, and how are they structured?
It’s also reasonable to request references from previous clients, so you can get direct customer feedback on how well previous projects have gone.
How can you tell if a business growth consultant is a good fit for your business?
There are a few key things to look for when choosing a business growth consultant for your small business.
First, you want to make sure that the consultant has a proven track record of helping businesses grow. Ask for references from past clients and see if the consultant has any case studies or success stories that they can share with you.
Second, you want to make sure that the consultant is a good fit for your company culture. The best consultants will take the time to get to know you and your team so that they can tailor their approach to fit your needs.
And as a bonus, check if the consultant has experience working with businesses in your industry as this may give them an understanding of the unique challenges and opportunities that your business faces. Note that this isn’t a requirement, and it can often be beneficial to work with someone who has no experience in your industry. They’ll have very different experiences and, in asking basic questions, can often uncover problems/opportunities for you.
What are some red flags to watch out for when hiring a business growth consultant?
Unfortunately, not everyone puts the client first and there are some bad apples out there happy to take your money without delivering the help you need. Keep an eye out for these problem indicators:
- The consultant is not willing to share their credentials or past clients.
- The consultant does not have a clear plan or strategy for your business.
- The consultant is unresponsive to your questions or concerns.
- The consultant seems more interested in selling you products and services than helping you grow your business.
Providing you are clear about what you need help with, you should be able to see the progress made by working with a good consultant.
Can a business growth consultant help me grow my plumbing business?
If you’re looking to expand your plumbing business, working with a business growth consultant can be a game-changer. They can provide you with valuable insights and advice on implementing effective growing your plumbing business techniques that can help you attract more customers and increase your revenue.
Final Thoughts
Hiring a business growth consultant can help a small business owner focus on their business and achieve their goals more effectively. They can provide guidance on how to grow the business, and can offer insights and advice based on their experience in growing businesses.
They can offer many services that can help a small business, for example website design and development, marketing strategy, and financial planning advice. Having a professional handle these areas of the business can free up time for the small business owner to focus on other aspects of their company.
Getting input from someone outside the business can prove to be highly helpful. When launching a new business, getting input from someone who is not affiliated with the business can assist in understanding where your business stands and what you need to do in order to grow.
Additionally, this person can offer suggestions that cannot be found from within the company. For example, if you are considering using a platform such as Wix for your website, this person may be able to offer advice on which platform would work best for your specific needs.
The best thing to do is have a quick conversation, see if they can help you, and then book a single session before committing to a long term engagement.
