Most small businesses are on built on optimism and enthusiasm, but they almost always come short in two areas. The first is funding; that’s why they are small businesses. The second is expertise in business plan, marketing strategies and marketing plan. Funding shortages can be overcome, but the lack of plan and strategies can quickly lead to the downfall of a business. However, many small business owners fail to give due importance to plans and strategies, and when their business goes broke, they usually blame the lack of capital as the main cause. Therefore, every small company needs a small business consultant to guide them through the complicated process of business planning and certain strategies.
A business consultant may be either an employee of a firm or an individual who specializes in helping a company design business plans, marketing plans and marketing strategies. He may also have expertise in budget and cash flow plans, and advise in matters concerned with accounting and auditing. Additionally, the consultant may also provide his service on website design, website hosting, search engine optimization and blog marketing. These are of utmost importance in today’s complex marketplace. The main services provided by a small business consultant are as follows
Business plan preparation: A business plan is a blueprint for the company’s management team to follow a certain direction. It provides a logical boundary for the company to operate and strategics to achieve its targets. A professionally written business plan plays a crucial role in securing funds from investors.
Preparing a marketing plan: A marketing plan is a master plan to promote the company’s products and services in the market. It is difficult to for a company to sell its products and services without a marketing plan. The marketing plan is prepared after a systematic market analysis with regard to several factors, such as current size and growth potential of the market and the customers’ purchasing power and buying behavior.
Preparing a marketing plan: Marketing strategies are a part of the marketing plan. They are devised on the basis of the marketing plan. Most of them emphasize on the ideal product mix to achieve the targeted profit.
Preparing budget and cash flow: Budget and cash flow plans create the financial boundaries within which an organization operates. They are prepared on the basis of the available resources and income estimated from the sale of products and services.
Auditing the Business system: Auditing the small business system helps the company determine the strengths and weaknesses of the business discover it’s strengths and weaknesses and auditing the business system is an excellent way for a company to pinpoint its strengths and weaknesses. A business needs to appraise its performance regularly in terms of the goals it has set and also to find out whether it is performing better or worse than its competitors to remain at the top of the market place.
Apart from the above, a small business consultant may also provide his expertise to set up the company website, including content, promotion, and search engine optimization. He/she may also provide expert advice on issues pertaining to human resources management, wage and compensation, product placement, product costing and product promotion, quality control, inventory management, etc.
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