How To Select The Best Strategic Management Consultant
Do you need some direction in your business? Maybe you look at your competitors and wonder how you can increase your revenue and profit to be like them. Working with a strategic management consultant can help you clarify your business goals and achieve them. Read on to find out the benefits of management consulting and how to choose a strategic management consultant.
What are the benefits of a strategic management consultant?
Strategy consulting for businesses involves working closely with the management team and business owner to improve the company’s results. An objective outlook on the business’s current state and how it can achieve its goals can help it become more competitive and profitable.
Some of the business aspects strategy consultants can help you with include:
- Corporate strategy
- Economic policy
- Organisational development
- Operations and business transformation
- Marketing and digital strategy
Strategic management consultants can help different-sized businesses, from start-ups with small headcounts to companies with multiple offices and locations worldwide. The key benefits of working with a management consultant include the following.
1. Experience and expertise
When you work with a strategy consultant, you can access their years of experience across various organisations and industries. Their expertise gives you access to industry trends, proven strategies, and best practices.
2. Objective advice
Hiring a strategy consultant will give your business unbiased insights into strengths, weaknesses, opportunities, and threats. This outsider perspective can identify areas for improvement you may have yet to notice.
3. Change management
Implementing change in a business can be hard going. Strategic management consultants can manage changes by ensuring open communication, identifying resistance to change, and encouraging stakeholders to remain open-minded.
4. Up-to-date market insights
It can be challenging to stay current with industry trends and market insights. When you work with a management consultant, they focus on market research, emerging markets, and strategic initiatives to improve business results.
5. Measuring performance
Strategic consultants can help your business establish key performance indicators (KPIs) that easily track the progress of strategic initiatives. They can also help improve monitoring systems that evaluate and adjust desired outcomes.
6. Results-oriented
When your business works with a management consultant, you can rest assured that they are focused on delivering results that include improved market share, cost savings, and competitive advantage.
How to choose a strategic management consultant
With so many strategic management consultants to consider, having a checklist like the one below is helpful.
1. Know what you need
Clearly defining your business needs and objectives is the first step. Do you need guidance with planning and market analysis? Or do you require help with change management and organisational restructuring?
2. Research
Starting with a Google search for “strategic consulting” and “management consultant”, you’ll notice many options. However, it’s essential also to look further. Browse LinkedIn and ask industry colleagues for referrals. Also, look at management consultant’s case studies and testimonials.
3. Evaluate experience and credentials
Strategic management consultants should have a track record of success. Find out their qualifications, their years of experience, and whether they keep up to date with the latest information from their field.
4. Consider the cultural fit
Working with a strategic management consultant will be a close relationship. During the initial chat, make sure you are aligned culturally and ethically. A solid personal connection will help you achieve your business goals more quickly.
5. Communication styles and techniques
Find out how the management consultant will communicate with you. They may not be a good choice if you prefer a face-to-face exchange, and they only offer online meetings. Similarly, if they insist on communicating with long emails and you don’t align with this communication style, you’d be better off working with someone else.
Marino Sussich: Strategic Management Consultant
Marino Sussich is an innovative and experienced business consultant with a wide range of strategic management skills. His up-to-date knowledge and thought leadership ensure his clients get the best management coaching. You can book an initial conversation with Marino Robert Sussich here.
