Strategy Consulting: Taking the First Step
Strategy consulting might be one of those services that doesn’t immediately come across as necessary. However, there are a few good arguments for making it a priority in your growing business. Primarily, small businesses, especially those with as many moving parts as interior design, require good planning in order to grow. And if you’re not trying to scale, strategy consulting can help you organize, improve efficiency, seek out ideal clients, and hire or contract new team members. In short, strategy consulting is one of those services that runs behind the scenes of your business, helping you keep a tight ship that’s prepared for anything. You may have heard a strategic consultant be called by another name; integrator, Online Business Manager (OBM), operations consultant just to name a few.
What Is Strategy Consulting?
Though we’ve addressed this a bit already, part of the confusion regarding strategy consulting probably lies in not knowing exactly what a strategy consultant does. What is the consultant’s exact job? How do they actually help you? Is it the same as an OBM or a Business Coach? We’ll address these one by one.
What do strategy consultants do?
A strategy consultant’s job starts with identifying the weaknesses and problem areas in the business’s processes, structure, routines, and planning. They will consult with the owner/CEO or lead designer and analyze the various areas of the business—including project workflows, marketing, HR, and more—to then offer a third-party opinion on what needs to change.
Depending on the identified problems, the consultant will help identify ways to reduce costs, increase revenue, narrow niches, refine processes, plan for growth and scaling, establish and help brainstorm other income streams, develop marketing strategy, craft a client experience, and much more. Their goal is to be a problem-solver, offer measured and tried-and-true solutions that address overwhelms and unknowns, and predict future challenges to set the business up to weather these storms. For small businesses this might mean the difference between being nervous for the future of your business and having an actionable plan in place.
How Do Strategy Consultants Help?
A strategy consultant might be a one-time advisor to help offer solutions for a particular problem, or they might act on a long-term basis, being a right-hand in the major goings on of the business. No matter what, they must know the industry they are consulting for and offer strategies for growth, HR, budgeting, client relations, and onboarding and offboarding processes. Most consultants have extensive knowledge in business planning and organization. They’ve worked with entrepreneurs like you and they know what works and what doesn’t. More importantly, they can be a sounding board so you’re not making big decisions alone and always have an unbiased source of wisdom and industry knowledge to go to.
How is Strategy Consulting Different from OBM or a Business Coach?
The short answer is that strategy consulting falls under the umbrella of OBM responsibilities, but for the most part, will not take part in implementation. They can offer a plan of action, refer software, team roles, template ideas and more, but will count on your internal team to implement the changes. An OBM wears many hats and has a wide range of knowledge to pull from, so you might look to them for help setting up systems, or need that ongoing right-hand or extra set of eyes internally as you grow and establish your business. Although a Business Coach will also offer strategic business advice, they tools and advice traditionally reflect on the business owners emotional directives and how to be better a leadership, sales, or ownership functions more than the nitty gritty of the workflows within the business.
How to Get Started
The first step is admitting that some of your systems and strategies may not be working or, at the very least, have some room for improvement. Remember, an outside opinion has a bird’s-eye view of your business, they have the time to pick things apart and dig deep into the day-to-day functions of your business. They can give you an unbiased analysis and real solutions that have worked before. So once you’ve identified that something needs fixed, improved or to be ready for scaling, you can reach out to OBMs or a strategic consultant who works in your industry and determine if they are the right fit. An initial call will help both parties decide if the consultant will improve your business, and then the two of you can set to work making your business everything you’ve dreamed it can be!
It’s as simple as that.
