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What Can You Expect From the Business Advisory Process?

It is generally accepted that consulting firms will review the business and send recommendations from there. While this is true, keep in mind that there are four other basic steps in between. Here is a six-step suggestion. You can click over here to know these steps in detail.

The first step is to study business. This is a matter of course and a must for consultation. Consultants must have a sound understanding of the business, from the business to its needs, before recommendations can be made. Different consulting firms have different approaches to taking this step. 

The second step is to find business problems. Listed problems are not only what business owners or employees see and observe, but advisors will find these issues from an advisor's point of view as well.

The third step is to identify opportunities. The principle of counseling is that for every problem identified, there is an opportunity waiting to be exploited. 

The fourth step in business consulting is analysis. For this step, the consulting firm must analyze and review. This is the section that reviews problems and opportunities and lists priority problems and opportunities. The analysis that a consultant can provide also leads to the presentation of conclusions, all of which are based on verifiable facts and figures.

The fifth step is to provide a solution based on the problems and facts given. A good business consultant should offer the owner or director a game plan to follow. 

Step six is to get feedback and adjust the plan or strategy if necessary. Immediately after conveying recommendations and conclusions to the company, the next step that many consultants consider is to grow the company and view it from a distance while the company uses the developed plan.