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Old 02-19-2019, 12:46 AM
 
Location: UK
1 posts, read 449 times
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I am business startup and I want to grow my business.

So I want to know do I need to consult a business consultancy firm?


Thanks
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Old 02-19-2019, 07:19 AM
 
4,556 posts, read 3,719,412 times
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My limited experience with small-business consultancy firms has been negative. A previous employer and a close friend both hired consultants to come in and refine their processes and increase profitability and in both cases the recommendations were either obvious or ridiculous. Both felt after the fact that the money was wasted. Your results may vary.
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Old 02-19-2019, 07:29 AM
 
7,722 posts, read 3,635,827 times
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Well, didn't you seek advice from crusty old farts who had been in the same business for years, before you started yours?


Never mind " business consultancy firms", go talk to some old guys who have run companies. Most of the time business problems come down to one of a very few problems that are seen over and over, and it's EXTREMELY rare that said problems are specific to the particular field.
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Old 02-19-2019, 07:50 AM
 
Location: Aurora Denveralis
8,717 posts, read 3,931,533 times
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Quote:
Originally Posted by turf3 View Post
Never mind " business consultancy firms", go talk to some old guys who have run companies. Most of the time business problems come down to one of a very few problems that are seen over and over, and it's EXTREMELY rare that said problems are specific to the particular field.
Concur. While every segment of business, and to a lesser extent every individual business, has its nuances, getting it right is a surprisingly generic effort.
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Old 02-20-2019, 06:41 PM
 
6,932 posts, read 3,126,539 times
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Look up SCORE (Service Corps of Retired Executives) in your city. It's a free service by the Small Business Administration.
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Old 02-24-2019, 04:11 AM
 
Location: Around the UK!
156 posts, read 119,242 times
Reputation: 410
Quote:
Originally Posted by DNAGrowth View Post
I am business startup and I want to grow my business.

So I want to know do I need to consult a business consultancy firm?

Thanks
As a business startup, there are a lot cheaper (and probably far more effective) options for spending money than a business consultancy firm. If you are looking for a very specific deliverable skill you may be able to get it from a freelancer.

As a startup you are unlikely to get much more than generic cut and paste advice from a business consultancy ... unless you have very deep pockets?

Find a mentor or mentors who have specifically done what you want to do and reach out to them.
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Old 03-01-2019, 12:36 AM
 
Location: VA, IL, FL, SD, TN, NC, SC
1,191 posts, read 332,229 times
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This is in part, what I do. I prefer to advise business start-ups and franchisees over established operations or large multiple units franchisees, but the big guys can afford the freight. That being said I am not soliciting clients, I am fully booked for several years. However if you can find a good business consultant they are well worth their rates.

I will say a great deal of what I do is eliminate poor concepts especially in the franchise arena and assist in geographic and demographic selection.

A good consultant will probe your psyche and get your mind right and save you from "I am the boss" syndrome which is many a would be small business person's downfall.

I will say business expansion is usually a different set of skills than business start-up, although the two are related.

Usually industries have industry specific consultants that can bring a plethora of best practices to the table and be very beneficial.

In the end I am very happy if I can convince someone who does not have the correct mindset, aptitude, or is suffering from confirmation bias and or cognitive dissonance to not go into business for themselves or convince someone that they are simply buying themselves a job or that they are being foolish putting their hard earned assets at risk if they have to sign a personal guarantee.

Regretfully many people ignore the advice they pay for and end up going forward with ill conceived plans and regret it. I get many, I should have listened to you calls a couple of years later.

Cheers...

Last edited by GhostOfAndrewJackson; 03-01-2019 at 12:47 AM..
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