By Felicia Dixon Ward
As the economy is in recovery businesses are looking for ways to minimize cost and maximize profits. One way a business can accomplish cost minimization and profits maximization is using a business consultant.
Business Consultants assists businesses in accomplishing short and long term projects. Depending on what the business needs to accomplish will determine the kind of consultant the business decides to hire. Business consultants have specializations in various fields such as accounting, strategic management, change management, executive administrative services, marketing/sales, information technology (IT), web design and more.
Who hires a consultant?
The kind of companies which hires business consultants can range from small, medium, large and in public, private and government sectors. These sectors can include financial, banking, media, communication, manufacturing, healthcare/medical, defense, oil and gas and more. Companies that are in the start-up phase, companies looking to implement a new business initiative or project and companies facing business challenges hire consultants.
Case: Dunlap Concrete and Custom Design http://www.dunlapconcrete.com is a small minority owned custom stamping concrete company. As a small business the owner managed the day-to-day operations and focused on sales. The owner realized to help his company grow he needed to hire a consultant to allow him to focus on what he loves doing in his business, sales. He is currently working with Marjon Consulting Group http://www.marjongroup.com to assist with implementing marketing and other business strategies.
Why hire a consultant?
Business consultants can provide a value added benefit to the business. A business consultant can offer a fresh perspective and direction for the business. The consultant can look at the business without any emotional connection or association for the business and able to perform an objective analysis in his or her approach to reviewing the business. Implementing a new business strategy is an area the consultant can contribute to the success of the business.
Utilizing the talents of a consultant to support a long or short term objective is an excellent method to minimizing cost. Consultants are categorized as 1099 contractors/consultants. What that means is the business is not responsible for payroll related taxes instead the consultant is responsible for his or her tax payments. This is a substantial savings to the company in time and money because the company does not have to use the manpower to process payroll nor does the company have to pay payroll related taxes. The company is also not responsible for providing health benefits to the consultant. The cost to hire a consultant is minimal compared to hiring a full-time employee. A consultant is a cost effective way to increasing business productivity and performance. The Consultant fees can vary large consulting companies fee can range from $75 or more. Independent Consultants fee can fall between $20 to $75 an hour. The fee will vary depending on the scope of work the consultants will be performing.
How to locate a consultant
There are plenty of large consulting companies and independent consultants, which offer consulting services for every industry and short and long term projects. A few of the major consulting companies are:
3. Grant Thornton-www.grantthornton.com
4. Arthur Andersen-www.andersen.com
Locating a consultant can be accomplished by going online and typing in the search word “business consultants” or “consultants”. You can be more specific and type in the consultant you require. Referrals, telephone books and local newspapers are also great places to locate a consultant.
If your business has a short or long term project and wants to minimize cost and maximize performance and productivity a business consultant can provide an added benefit for your company.
For more information about this article or questions contact Felicia at 704-454-7664 or at [email protected]. Marjon Consulting Group http://www.marjongroup.com offers short and long term business management consulting solutions to small and medium sized public, private and government sector businesses.