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What determines the quality of a business consultant?

The job description of these professionals is somewhat vague and thus putting a finger on how to determine the quality of a business consultant can be very difficult. Essentially, it is the job of the business consultant to increase profits, be it in the long run or the short term. Many of these consultants have different tactics for doing so. Basically, what you want from a business consultant is someone who is intelligent, savvy, and pleasant to work with. Remember, if you can’t stand talking to them, it doesn’t matter how good they are, you aren’t going to benefit from their expertise.

Who do they know?

Arguably one of the most important aspects of the job of one of these experts is the networking. Companies, especially the smaller ones, often hire business consultants based on their knowledge of business, or where they received their degree from. These aspects are extremely important and should absolutely never be overlooked, but one of the most common overlooked qualifications is who the experts know. Often times a business needs some type of service that they have not planned for, or a service that they will only need once or twice. The top business consultants will already know someone that can do the job. Often times they will know those companies not only on a professional level, but also on a personal level. Having a contact between you and the company not only will guarantee that you will get service that is up to your expectations, but you also may get a discount depending on how well the business consultant knows the other firm.

Big Firm or Small Firm?

This really depends a lot on your situation. If you are a large firm and need constant assistance and a lot of man-power to help run your business, you should go with a large firm because a smaller firm likely doesn’t have the resources that you need. That being said, if you are a large firm and you seek out the services of a smaller firm, you will likely be one of their top clients and you will get a lot of attention. Small firms also offer some other unique benefits. Most large firms work several companies in your industry. For example, if you sell bicycle parts, and seek the services of a large firm, you may be one of 100. However, if you go to a smaller firm, you may be one of two especially if the industry your in is not a huge industry. So, if a bicycle shop owner goes to the business consultant that you used and requests help in setting up the shop, you have a 50% chance at getting a contract with the shop instead of a 1% chance.

Just like every other business decision, you should fully research every expert and take everything into account when making your decision on who you should hire. Talk to other business owners, and see who they have picked, and always make sure to ask your prospective business consultant for references before agreeing to any relationship.