Business Consulting



Business Consulting

 

The business and financial consulting market can be divided into four broad segments:

  • management consultancy;
  • financial advice, including corporate finance and business recovery;
  • audit and accountancy; and
  • tax and legal services.

The industry is highly competitive, and in recent years financial consultancy has been subjected to increasingly rigorous standards and regulations imposed by the Government and international standards bodies.

There are thousands of consulting companies supplying professional business and financial services. The majority are very small, and typically operate in highly fragmented markets. Much of their business comes from local small businesses and consumers. The large corporate market for professional services is dominated by a handful of vast multinational firms and in between are a number of medium-sized businesses looking to achieve sufficient scale to be able to challenge the very large partnerships.

Management consultancy is an established and growing industry. It can be divided into a number of sectors, including business process outsourcing, information technology (IT), corporate strategy and development, financial and administrative systems, project management, production and services management, human resources management, marketing and corporate communications, and economic and environmental studies.

The consulting sectors most in demand are IT and outsourcing; web services consulting is the fastest growing specialist area within the sector. Industries typically requiring consulting services are financial services, telecommunications, consumer goods, retailing, hotels, catering and transport.

Consulting is a global industry, and the large corporates in this sector have offices worldwide. Growth in world trade has had a significant impact on the consulting industry. As companies are forced to compete on an international level, there has been a dramatic increase in the use of consulting companies for expert advice. This is particularly true for IT consulting services. Technology has grown more complex, and the ability to outsource this core area of business frees up time and resources for other areas, increasing a company's efficiency.

A consultant is simply anyone who gives advice or performs other services of a professional or semiprofessional nature in return for compensation. This means that regardless of your area of interest or expertise, you can become a consultant. Everyone has a unique background, with special experiences and interests that are duplicated by few others and that are in demand by certain individuals or companies at certain times.



Business consulting encompasses a very wide area of activities:

  • General management, encompassing organizational planning, strategy, and other general management tasks
  • Manufacturing, including production control and facilities management
  • Personnel, having to do with development and training, recruitment, selection, management of employee benefits programs, and similar activities
  • Marketing, covering such topics as new product introduction, pricing, promotion, and development of distribution channels
  • Finance and accounting, including cost accounting, valuation, tax advice, and investment programs
  • Procurement and purchasing
  • Research and development and potential product selection and screening
  • Packaging, including aspects such as packaging machinery, design, and testing
  • Administration, including office management and administrative procedures
  • International operations, which has to do with import, export, licensing, tariffs, and joint ventures
  • Specialized services, which catches all the many other areas, such as executive recruiting or telecommunications

Sometimes even the largest companies lack personnel at specific periods of time or for specific tasks. They may need assistance during a temporary work overload, or they may require unique expertise that is not needed on an ongoing basis every day of the year. Temporary assistance might be needed, for example, when a company bids for a government contract. During this period, it is required to put out a great amount of work over a short period of time. The staff personnel may not be available to do this without stopping other important projects, so consultants are hired, or a company may need unique expertise on a short-term or project basis. Take direct marketing, an area I frequently consult in. Even today with the amazing growth in direct marketing and database management, many businesses use direct marketing only occasionally. So it does not make sense to hire a full-time expert whose salary could easily exceed $75,000 per year. Therefore, a company is perfectly happy to hire a consultant at fees of $300 an hour (or more) to accomplish a specific task.

Government regulations, if not obeyed, can result in fines, imprisonment, or even the closing of the business. No company is immune to government regulations, and all companies need to ensure that they fulfill these regulations in the most efficient and effective manner. At the same time, they wish to minimize any negative impact on their business and, if possible, use the regulations to help the operation of their business. These regulation concerns may involve a variety of areas: equal employment opportunity, age discrimination, consumer credit protection, safety standards, veterans’ rights, and numerous others. If you have knowledge in any of these regulatory areas or can become an expert in them, there is a real market for your consulting services.

Why do people hire small business consultants?

Small business owners hire consultants as a cost-effective way to bridge a gap in knowledge and skills within their company, or a as a way to bring a fresh, objective, and professional perspective to the company.

Here are the three most common reasons why our clients turn to consultants for help:

  • To find the problem(s): In many cases, a business may be exhibiting problematic “symptoms”, such as a decrease in sales, or cash-flow issues, and internal management in unable to pinpoint the source of the problem. In this case, a consultant can come in observe the symptoms within your operations, conduct some tests and research, and determine the root of the problem.
  • To create the solution(s): In some cases, you may have a goal that you can’t achieve internally either because there is a skills gap or because it is simply not within your company’s core competency. Hiring a good consultant can save time and money, and ultimately achieve a better result.
  • Optimization: In some cases, your company may have grown very quickly and know there are lots of things you could be doing better, but you don’t even know where to start. A consultant can come in and bring in some fresh perspective, evaluate any or all areas of your business, and determine the processes and procedures to increase productivity levels.

Going into business for yourself as a consultant, coach, or speaker (or all of the above) requires determination, a little self-sacrifice (in the beginning), and a lot of experience. People hire consultants because they need the expertise of someone who has been there and done that.hundreds of times. There are consultants in literally every career field, and once they become accustomed to the process of generating clientele, they can make over double what they were earning as employees. In fact, recent statistics show that successful and established consultants can make anywhere from $1,200 to $5,000 per day.

There is power and prestige in consulting that can rarely be found in management positions, even executive positions. The power comes from calling the shots as a business owner and making sure people know they need you; the prestige comes from being the very best in your field.and making sure people know it.

But there's a not so subtle difference in owning your own business and owning your own consulting firm. Lots of people own businesses. My fiancé owns a deli, my father owns a small publishing business, and my mother owns a bakery. But owning your own consulting firm lets people know that you're the crème de la crème in your field - and if they want to rise to the top like you have, they'll hire you to help them.

Consulting firms, like the one you will soon own, can be anything from a one man show to a large agency boasting senior and junior associates. Most consultants make their day to day income from coaching and mentoring individuals in the field - charging anywhere from $300 (for junior level staffers) to $500 (for senior executives) per hour. They also assist clients with organizational development, strategic and financial planning, and a host of other services including workshop facilitation and board and staff retreats. And if they like to speak in front of audiences, many consultants make thousands of dollars simply talking to a crowd for a few hours about their experiences and knowledge.

While it's not as easy as 1-2-3 to quite your job and start making $5,000 a day as a consultant, it's certainly not as difficult as it looks - especially if you're very very good at what you do and have expertise that few can match. Start off as a moonlighter, which is the term used when someone has a "day job" but works on their own business in the evenings. Make a simple business card for yourself and during your lunch hour at work, go to chamber of commerce or rotary meetings where you can network and talk to people about your new consulting practice.

It's not too difficult to pick up a small client or two this way, and once you do a good job for them and build confidence in yourself you'll begin to branch out and up. People will hear about you, your phone will start ringing, those simple business cards you handed out at the rotary meetings will change hands and generate bigger clients, and you'll begin to realize that maybe you really can quit that hum-drum job and make it big on your very own.

Employment of management consultants is projected to grow 19 percent over the next five years, faster than the average for all occupations. Demand for consulting services is expected to grow as organizations seek ways to improve efficiency and control costs. As markets become more competitive, firms will need to use resources more efficiently.

Growth will be particularly strong in smaller consulting companies that specialize in specific industries or types of business function, such as information technology or human resources. Government agencies will also seek the services of management consultants as they look for ways to reduce spending and improve efficiency.

Growth of international business will also contribute to an expected increase in demand for management consultants. As organizations expand their business abroad, many will hire management consultants to help them form the right strategy for entering the foreign market.

Many firms are also expected to hire management consultants who specialize in areas such as lowering energy consumption or implementing “green” initiatives.



These are some of the most well-known consulting companies:

  • ABeam Consulting
  • Accenture
  • Acquis Consulting Group
  • Acquity Group
  • Added Value
  • Advisory Board Company
  • AECOM
  • Affiliated Computer Services (ACS)
  • Agility Solutions
  • ALaS Consulting
  • The Alexander Group
  • Alexander Proudfoot
  • AlixPartners
  • Alliance Consulting Group
  • Allscripts Consulting Services
  • Alpha Financial Markets Consulting
  • Alsbridge
  • Altman Vilandrie & Company
  • Altran
  • Alvarez & Marsal
  • The AMI Solution
  • AMTEC Consulting
  • Analysis Group
  • Analysys Mason
  • Analytics Operations Engineering
  • Anderson Analytics
  • Answerthink
  • Aon Consulting
  • Applied Predictive Technologies (APT)
  • Applied Value Group
  • Archstone Consulting
  • ARES Corporation
  • Arryve Consulting
  • Arthur D. Little
  • Arup
  • A.T. Kearney
  • Atkins Global
  • Atos Consulting
  • Atos Origin
  • AT&T Consulting
  • Aurora Advisors
  • Avanade
  • Avasant
  • Averro
  • Axiom Consulting Partners
  • Bain & Company
  • Basis Technology
  • Bates White
  • BearingPoint
  • Berkeley Partnership
  • Berkshire Consultancy
  • Beroe
  • Beyond Analysis
  • Beyond the Arc
  • BI Consulting Group (acquired by Capgemini)
  • Business Enterprises Services (BES)
  • Blu Skye Consulting
  • BMC Software Consulting
  • Booz Allen Hamilton (BAH)
  • Booz & Company
  • Boston Consulting Group (BCG)
  • Boston Strategies International
  • Bourton Group
  • Boxwood Group
  • BPI Group
  • Brand Learning
  • BRMi Consulting
  • Brattle Group
  • Bridgespan Group
  • Bridgestar
  • BridgeStreet Consulting Group
  • BTS
  • BT Global Services
  • BT Telconsult
  • Buck Consultants
  • Burge Hughes Walsh Partnership (BHW)
  • buyingTeam
  • Cambridge Associates
  • Cambridge Consultants
  • Cambridge Group
  • Cambridge Strategic Management Group (CSMG)
  • The Camden Group
  • Campbell Alliance
  • Candesic
  • CapGemini
  • Capgemini Consulting
  • Capco
  • Casey Quirk
  • Cask Consulting
  • CAST Management Consultants
  • CCS Fundraising
  • CDC Development Solutions
  • CDI Corporation
  • CDM Consulting
  • Cedar Management Consulting
  • Celerant Consulting
  • Celerity Consulting Group
  • Center For Applied Research
  • Center For Organizational Excellence
  • Censeo Consulting Group
  • Centric Consulting
  • CGI
  • CGN & Associates
  • Charles River Associates (CRA)
  • Chartis Group
  • CIBER
  • Cisco Systems
  • Civic Consulting Alliance
  • CJ Consulting Group
  • Clareo Partners
  • ClearView Healthcare Partners
  • Clearview Global
  • Cognizant
  • Compass Lexecon
  • Computer Associates
  • Computer Sciences Corporation (CSC)
  • Constellation NY
  • Cornerstone Research
  • Corporate Executive Board
  • Corporate Value Associates (CVA)
  • Courtyard Group
  • Crowe Horwath LLP
  • CSC Management Consulting
  • Cumberland Consulting Group
  • Dalberg
  • Daugherty Business Solutions
  • Dean & Company
  • Dell Perot Systems
  • Deloitte Consulting
  • Detica
  • Diamond Management & Technology Consultants
  • Droege Group
  • DSG Systems
  • Easton Associates
  • ECG Management Consultants
  • Edgar Dunn & Company
  • Egon Zehnder International
  • Elysium Digital
  • Endeavor Group
  • Entrue Consulting Partners
  • ENVIRON
  • EquaTerra
  • Equation Consulting
  • EquiBrand Consulting
  • Ericsson Strategy Consulting Group
  • Essex Lake Group
  • Establish Consulting
  • Etigo Consulting
  • Eurasia Group
  • Everest Group
  • Everis
  • Exeter Group
  • Exponent
  • Ernst & Young
  • Fair Isaac (Braun Consulting)
  • First Annapolis Consulting
  • First Manhattan Consulting Group
  • Fidelity Business Consulting (FBC)
  • Fiscal Management Associates
  • Fitzgerald Analytics
  • Fletcher Spaght
  • FMI Corporation
  • Forum Corporation
  • Franchise Consulting Group
  • Frost & Sullivan
  • FSG Social Impact Consultants
  • FTI Consulting
  • Fujitsu Consulting
  • Gartner
  • Gallup Consulting
  • Galt & Company
  • GE Healthcare
  • GFK Group
  • Giuliani Partners
  • Global eProcure
  • Global Intelligence Alliance
  • Gotham Consulting Partners
  • Grant Thornton
  • Gravitas Technology
  • Gravitytank
  • The Greatest Good
  • Greenwich Associates
  • Hagerty Consulting
  • Hackett Group
  • Haig Barrett Management Consultants
  • Haverstick Consulting
  • Harbour Group
  • Harris & Associates
  • Hatch Associates
  • Hay Group
  • HCL Technologies
  • Health Advances
  • HealthEdge
  • HealthScape Advisors
  • Heidrick & Struggles
  • Hewitt Associates (acquired by Aon)
  • Hill & Knowlton
  • Hitachi Consulting
  • Hokenson Group
  • HP Services
  • Huron Consulting Group
  • IBM Global Business Service
  • IBB Consulting Group
  • ICF International
  • IDEO
  • IFC Consulting
  • Impact Advisors
  • IMS Consulting Group
  • IMS Health
  • inCode
  • Indra
  • Ineum Consulting
  • Infinitive
  • Infosys Consulting
  • Insight Catastrophe Group
  • Insight Strategy Advisors
  • Interscope
  • Investance
  • Investor Group Services (IGS)
  • ipCapital Group
  • Ipsos
  • The IQ Business Group
  • JC Jones & Associates
  • Jabian Consulting
  • Jacobs Consultancy
  • Jefferson Wells International
  • JRB & Company
  • Juran Institute
  • Kaiser Associates
  • Kantar Group
  • Kantar Health
  • Katzenbach Partners (acquired by Booz & Company)
  • Keane
  • Kellen Company
  • KEMA
  • Keystone Group
  • Keystone Strategy
  • Knowledgent Group
  • KPMG Consulting
  • Kuczmarski & Associates
  • Kurt Salmon Associates (KSA)
  • Lansdowne Consulting
  • The Lab Consulting
  • LECG (Law and Economics Consulting Group)
  • Leigh Fisher Associates
  • LEK Consulting
  • Liberty Mutual Group
  • Lightspeed Research
  • Lippincott
  • Litmus Group
  • Lockheed Martin
  • Logica
  • LOGIC Management Consulting
  • Malcolm Pirnie
  • Magenic Technologies
  • Management Consulting Group
  • M&A Partners
  • Manpower
  • Marakon Associates (acquired by Charles River Associates)
  • Marketbridge
  • Marketing Analytics
  • Mars & Company
  • Marshall-Teichert Group (MTG)
  • Matrix Knowledge Group
  • May Company Consulting
  • McKinsey & Company
  • Mercator Partners
  • Mercer Consulting
  • Milliman
  • Millward Brown
  • Miracle Software Systems
  • Mitchell Madison Group
  • Monitor Group
  • Morningstar Consulting Group
  • Mu Sigma
  • MWH Consulting
  • Navigant Consulting
  • NERA Economic Consulting
  • The Nielsen Company
  • Nonprofit Empowerment Group (NEG)
  • Northbridge Group
  • Northrop Grumman Corporation Consulting
  • North Highland
  • The Nous Group
  • NouvEON
  • Novantas
  • OC&C Strategy Consultants
  • Ogilvy & Mather
  • Oliver Wyman
  • Omnex
  • OmniaNow
  • Opera Solutions
  • Oracle Consulting
  • Oxford & Associates
  • PA Consulting Group
  • Pace Harmon
  • Pariveda Solutions
  • Parthenon Group
  • Pearl Meyer & Partners
  • Peppers & Rogers Group
  • PERI Software Consulting
  • PKF Consulting
  • Plus Consulting
  • Plutus Consulting Group
  • Point B
  • PriceSpective
  • PriceWaterhouseCoopers (PwC)
  • Princeton Consultants
  • Progress Group
  • Prophet
  • Protiviti
  • Proudfoot Consulting
  • Providge Consulting
  • PRTM
  • Putnam Associates
  • Quantitative Risk Management
  • Qedis Consulting
  • Quartz Strategy Consultants (aka Quartz+Co)
  • Quest Worldwide
  • Quintiles Consulting
  • Quint Wellington Redwood Group
  • Rath & Strong
  • Razorfish
  • Real Options Group
  • Red Oak Consulting
  • Redstone Strategy Group
  • Regency Group
  • Resources Global Professionals
  • RHR International
  • Right Management Consultants
  • Robert E. Nolan Company
  • Robert Half International
  • Roland Berger Strategy Consultants
  • Roll Consulting
  • Rosetta
  • RPO Management Consultants
  • RSM McGladrey
  • Russell Reynolds Associates
  • R.W. Beck
  • SAIC
  • The Saint Consulting Group
  • Samsung Global Strategy
  • SAP Consulting
  • Sapient
  • Schlumberger Business Consulting
  • SDG Group
  • Seabury Group
  • SECOR
  • Segal Company
  • Serco Consulting
  • SFN Group
  • Sg2
  • Sibson Consulting
  • Siemens Management Consulting
  • Simat Helliesen & Eichner (SH&E)
  • Simon Kucher & Partners
  • SkillStorm
  • Slalom Consulting
  • Sogeti
  • Solving Efeso
  • St. Charles Consulting Group
  • Steria
  • Stern Stewart & Company
  • Steven Hall & Partners
  • Stockamp & Associates (acquired by Huron Consulting Group)
  • Strategic Decisions Group (SDG)
  • Strategos
  • Strategyx
  • Stroud Consulting
  • Subsurface Consultants & Associates (SCA)
  • Summit Management Consulting
  • Swander Pace & Company (merged with Kurt Salmon Associates)
  • Synovate Business Consulting
  • Tata Consultancy Services
  • TASC
  • TechnoServe
  • Tefen Management Consulting
  • TEKsystems
  • Telisys Communications Consultants
  • Templeton & Company
  • Tieto
  • TMNG Global
  • TopRight Partners
  • Towers Perrin (merged with Watson Wyatt)
  • Towers Watson
  • TPI
  • Transform Consulting
  • Treacy & Company
  • Treasury Strategies
  • Triage Consulting Group
  • Tribal Group
  • Trinity Horne
  • Trinity Partners
  • TriPoints Consulting
  • Tunnell Consulting
  • UHY Advisors
  • Unisys Consulting
  • USC Consulting Group
  • USI Consulting Group
  • ViaNovo
  • Vivaldi Partners
  • Value Partners Management Consulting
  • Vantage Partners
  • Visa Consulting and Analytics
  • VMC Consulting
  • Volt Consulting
  • Waterstone Management Group
  • Watson Wyatt Worldwide (merged with Towers Perrin)
  • Wellspring Consulting
  • Wellspring Partners (acquired by Huron Consulting Group)
  • West Monroe Partners
  • Westport Business Solutions
  • Wipro Technologies
  • WTP Advisors
  • Xerox Business Consulting
  • Xantus Consulting
  • Xlent Consulting Group
  • Yankelovich Partners
  • Zolfo Cooper
  • ZIETA Technologies
  • ZS Associates
  • 2020 Delivery


Internet Marketing Consultant

Internet marketing is a lucrative business. There are many individuals who are earning substantial revenues by just selling their products or services over the Internet while at the same time endorsing the products or services of other Internet marketers. Revenues are flowing out of different outlets—through affiliate programs, direct product selling, or offering Internet marketing-related services.

With several features such as round-the-clock operability, opportunity of widening clientele base, and low starting costs, it is not surprising that the Internet marketing industry is now full of mushroom businesses owned and operated by novices who are eager to share the wealth of this lucrative industry. However, in order to grab a slice of wealth offered by Internet marketing, you must bear the stiff competition over the market. In this stiff competition, Internet marketers who possess the knowledge and capability on this type of investment will win the game.

The rule of the Internet marketing game is simple: learn the rules and apply necessary marketing strategies in order to win the game. Though you have several websites that are easy to navigate and contain useful features such as complete inventory listings as well as shopping cart facilities, if it is unable to generate generous amount of traffic, your Internet marketing career will be a total failure.

To avoid reaching possible career failure, it is important that you seek the help of an Internet marketing consultant. One of their business objectives is to provide their clients the necessary strategies or possibly handle the situation by themselves in terms of generating web traffic to their clients’ sites. This can be done through various ways such as affiliate marketing programs, web page optimization, web content development, or pay per click advertising. Even though as an Internet marketer, you are familiar with the aforementioned marketing concepts, you need sufficient time and expertise to apply it to your Internet marketing business. To fill up the gap, an Internet marketing consultant has the capability of applying the necessary strategies to build essential web traffic that will result in increased sales and generated revenues.

In case you have the knowledge and technical expertise about Internet marketing, you may also consider the career of an Internet marketing consultant aside from being an Internet marketer. If you have the marketing background and such is proven to be effective for other Internet marketing business, you may serve as a consultant to other Internet marketers, especially the new ones.

To be a successful Internet marketing consultant, you need to conduct an “inventory” of your Internet marketing skills and knowledge. You start by figuring out your strengths and determine what particular areas of Internet marketing you are weak. From such information, you will be able to construct a plan that will help educate yourself and improve your weak points. Begin by working out in your weaknesses and consistently testing it to determine if you have improved or not. Once you have developed your skills and you feel that you can go on, you are now ready to embark the career of being an Internet marketing consultant.

Once you are now in the field, always prepare because you will deal with numerous clients of varying needs. You will be able to meet complete novices as well as seasoned veterans on the Internet marketing industry. If you have come across clients who knew nothing about the business and ask you to take charge, you will have to take them under your wing. As a consultant, it is your responsibility to provide your clients their needs, whether they are complete novices or marketing gurus.

Start your consultant career on one or two areas of expertise. You may specialize on search engine optimization, newsletter writing, and other Internet marketing strategies. Identify the niche which you are strong with and make sure that you are regularly updated about any developments on those particular areas of expertise. You may also try concentrating on “hot niches” by typing your question on major search engines and see what comes after.

Being an Internet marketing consultant has the responsibility he needs to bear on serving the marketing needs of his clients. However, it takes common sense, solid knowledge, and enjoyment on what you are doing in order to help other Internet marketers in the long run. If you think you have the edge over a certain aspect, you can always go to that consultant direction. All of these are really up to you to think about.

 

A Great Consulting Company does not just happen

It is planned that way


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