Plans for growth, expansion, and change are just a few of the things that strategy and management consultants may assist with. An independent consultant can also bring significant outside knowledge and a new perspective, aiding businesses in developing fresh perspectives on strategic tasks and addressing particular difficulties.
However, there are numerous factors to take into account when deciding whether to work with and hire a consultant, both possible benefits and drawbacks. It’s crucial to conduct research, make sure your choice makes sense, and confirm that it will assist your company in a real way.
What is an independent consultant ?
An independent consultant, is a non-employee who provides services to the general public, as opposed to a particular employer. They normally work for a client on a contract basis for a set amount of time, either as an employee of their own firm or as a self-employed individual. Independent consultants work in a variety of industries and are industry specialists. They help businesses solve problems by providing expert advice in their sector.
Why would you hire an independent consultant ?
You're Lacking Inspiration And Perspective
Consultants have unprecedented access to circumstances that are impossible to find in the private sector. We joke around here that a year at our company is equivalent to ten years on the opposite side of the table. So, whether you’re looking for new ideas, inspiration, change management, or expectations, consult a consultant. Engage a consultant to ensure that your team’s processes are correct, or to increase efficiency and technology. A consultant can help you confirm a gut sense and ensure that you have the data you need to back up your conclusions. Consider them strategic partnerships because even the finest consulting businesses have consultants on staff.
Trends and technologies are too fast for you to keep up with:
Emerging trends and technological advancements can have a faster impact on your industry than you can investigate and understand them. If you’re attempting to stay up with these new advancements but feeling overwhelmed, it’s a smart idea to hire a consultant who is familiar with your sector and the most recent changes in it. This can help you make better business decisions by preventing worry from interfering with your judgment. However, you’ll need to find a reliable expert who can provide you with sound advice.
You’re unable to reach your goals
When your internal staff is unable to fulfill your objectives, it is necessary to employ a consultant. For the past two years, our sales strategy has remained unchanged, and our revenues have remained flat. We were putting in place strategies based on our internal team’s recommendations, but they weren’t working. We opted to hire a professional sales consultant, who gave us with invaluable advice. It cost a little more than employing an internal team, but it was well worth the money.
You require an unbiased opinion.
you and your team or partner may have differing viewpoints on specific subjects. When this happens, it’s a good idea to contact an expert who can provide you an unbiased view on the situation. Business consultants can provide viewpoints that you and your team may have overlooked due to their expertise in strategy. They can assist in thinking things through, navigating internal politics, and providing practical solutions.
Your Business Isn’t Growing And You Don’t Know Why
If you believe you are doing well in general but your financials do not reflect this, something is amiss, and you may not know what it is. A consultant will most likely be able to look at the situation objectively, identify the problem, and assist you in resolving it.
The advantages of hiring an independent consultant
With companies looking to cut costs in the face of increased competition, 38% of executives said price was a key factor in selecting an independent consultant.
In fact, according to a separate Comatch survey, 58 percent of independents make more money as freelancers than they did as employees of larger companies.
Of course, this isn’t true for all consultants, and many see fee pressure as a major future worry.
The strongest selling factor that an independent consultant have over their larger rivals, according to 48% of senior executives, is flexibility.
This is due to the fact that traditional consulting firms frequently fail to provide their clients with the independence they require to succeed in today’s fast-paced business environment.
To keep up with younger, more nimble competitors, businesses seek out fresh, inventive techniques. As corporations prefer to draw into independent consultants’ abilities as needed – without having to worry about offering lucrative long-term contracts – this is a fantastic fit for them.
Independent consultants’ work is often of superior quality, according to organizations. When choosing an individual consultant over a large firm, 23% of executives cite this rationale as the key incentive.
At pentabell we offer highly experienced professionals, investment bankers, management consultants, industry experts, serial entrepreneurs turned consultants, and other top tier talents.
More people are quitting their jobs to go out on their own. In the case of independent management consultants, many have gained experience at top organizations before deciding to go it alone.
This means they have the same abilities and experience as larger organizations, but with more freedom and flexibility to focus on and specialize in specific areas.
A leaner service
You receive the consultant when you engage an independent consultant. Not someone with their talents and expertise overseeing someone with less ability and experience, but whose billable rate is the same as or greater than the person you desire.
Ease and speed
The speed and ease with which independent consultants can embark on contracts is the fourth reason why clients pick an independent consultant. This was cited by 20% of CEOs as the most important reason.
Because independent consultants are self-employed, they must work rapidly and get contracts to ensure that they are paid.
Clients frequently rely on broad networks and personal recommendations to discover independent consultants, but matching tools are making it easier to find high-quality individuals.
6 steps to hire an independant Consultant
1. Define your needs
Before you start looking for an independent consultant, be sure you know exactly what you want. The majority of consultants focus on a single business or field, such as human resources, public relations, management, or law. Look for one with a similar target audience and expertise to yours. These experts are already familiar with the industry and what it takes to thrive.
2. Determine the contract's scope and budget
Determine how long and how often you will need the assistance of a consultant, as well as how much you can afford to pay. Determine whether the consultant may work from home or whether they must visit your workplace. When determining a consultant’s availability and preferences, this information is critical. Short-term assignments appeal to some business consultants, while long-term initiatives appeal to others.
Before you start looking for consultants, make sure you have a budget in mind. Business consultants may bill by the hour or by the project, and some may ask payment in advance. The way they establish their costs has a big impact on your budget.
When you’re ready to hire consultants, begin by seeking referrals from people you know and trust. Email business owners or CEOs in your industry to see if they’ve engaged business consultants to tackle similar issues or if they know experts in the field you’re looking for. If other successful professionals have had a favorable experience working with a certain consultant, you might as well.
4. Search consultant marketplaces
You can search for consultants by region, budget, industry, and skill on a variety of internet marketplaces. Some allow you to advertise job openings and have consultants contact you with their credentials and fees. Other sites gather your information and link you with the consultant that best fits your requirements. You may readily locate consultant markets by conducting an online search.
5. Post on social media
Social media and professional networking sites can be effective resources for finding business consultants your connections recommend. Create a post or message listing your consultant needs. Search for keywords related to your business, such as “venture capital,” to find professionals tagged with those skills or expertise. If a small business consultant’s professional networking profile has hundreds of recommendations from their peers, they are probably a good hire. Linkedin is the go to when looking for such professionnals.
6. Consult an international recruitment agency (Pentabell):
At Pentabell we promise to provide you with our approved HR expertise in order to make your employment projects thrive.
We will remove all your burdens and issues and let your staff focus on your strategic goals, while you enjoy peace of mind that comes from the knowledge that your business is led by our experts who always respect the employment laws and the most relevant HR practices.