It’s important to have a Strong Consultant by your side, in the matters you do not have expertise in. It’s similar to having a Lawyer or a Chartered Account in your team as a Consultant, because you do not want to engage in the regime that is not yours and want to give your energy and time in the things you love doing the most. Whether it be personal life, or the Trade that you master in your professional life.
Role of a Consultant: In any business, there are many aspects involved. Take for instance, a Beauty Salon Business or a Dentist. The business owners already have so much on their hands, that the aspects other than the main Business Activities (i.e. Daily Operations). The consultant’s role in all this is Share the Burden of their Clients, and take charge of a Particular Area of the Business.
What other options do Business Owners have, other than Consultants: Well, you can hire a full time staff, or outsource the work to an external agency. But in both these cases, the cost becomes very high.
While Hiring a staff can result in Monthly Salaries, and too much of Idol Time. According to the case studies, the time required by a person to complete these extra activities can range up to 20% to 50% of a full day, depending upon the complexity and the tediousness of the work.
Outsourcing the work to outer agencies can result in Communication Gaps, too much confusion, Lack of Transparency, and Low quality work. Obviously, you are relying too much on an external agency to complete a work that is very important to you. But for them, it is only One of their projects. So, it’s not necessary for them to keep it on priority
This is where a Consultant Comes in. Consultants work in close co ordination with Business Owners, and Suggest them on What/What Not to do, How Much/How Much Not to Spend, What Time is required for completion etc. thereby delivering amazing results at a very low cost.
Charges of a Consultant/Consultancy Fee: For the services and the time they devote for you, Consultants take a Fair Share of Consultancy Fees. Look at it in this way. If someone makes you a profit of $1000 or saves you $1000, than you would otherwise end up spending, and demands $500 for their Consultancy, you still have $500 as your profit. If you went for other methods, you would not have the option of saving/earning those extra bucks.
Please do remember that the Consultancy Fee you are paying was never yours anyways. This window is being generated by the Consultant on their own accord, and leaving an extra profit to you in the process. So, it would be better for you to choose a consultant wisely, without being Cost Centric. Because in the end of the tenure, before renewal of the Consultancy Contract, the Consultant will have to justify their Fees with the help of Reports. Otherwise, if you do not see the profit, you will discontinue the work with them anyways. So, my suggestion is that you should go ahead, take the leap of Faith and rise to Greatness with the help of Consultants