Running a business is extremely difficult, and it involves being creative, organized, and constantly problem-solving. If you are still involved in the day-to-day operations of your business, it can be difficult to see the larger picture and make decisions that will propel your company forward.
84% of workers say that poor management is the leading cause of job dissatisfaction, causing them unnecessary stress. It is clear that bad management can have a serious negative impact on morale and productivity. If you are not sure whether or not your business would benefit from hiring a management consultant, this blog will give you some signs to look out for.
What Is Management Consulting?
Management consulting is the practice of helping organizations to improve their performance, operating primarily through the analysis of existing organizational problems and the development of improvement plans.
In many cases, management consultants are niche-specialized, meaning they focus on a specific industry or sector, such as healthcare, retail, or manufacturing. There are also generalist management consultants who work across multiple industries and sectors.
No matter their speciality, all management consultants share the same goal: to help businesses achieve peak performance.
What Are the Benefits of Management Consulting?
Hiring a management consultant can provide your business with numerous benefits, including:
1. Management consulting gives businesses an unbiased perspective
Bringing in a third-party consultant will allow you to take a step back and look at your business objectively. They can help you identify areas of improvement and make recommendations for change.
In many cases, management consultants are hired to help businesses with specific challenges or projects. Even if you don’t have a specific problem to solve, a management consultant can still add value by helping you take a fresh look at your business operations and find ways to improve.
For instance, a software company that has just hired a new sales team might find that its team is underperforming. After conducting a review of their sales process, the consultant might find that the issue is not with the sales team, but with the sales playbook, they are using.
In this case, the consultant would make a recommendation to the software company to evaluate their sales cycle based on KPIs (sales cycle length, conversion rate) and make changes to their process accordingly.
2. Management Consultants can act as sounding boards for business ideas
Sometimes, ideas and creativity within an organization can stagnate. If you are feeling like your team has hit a wall, it might be time to hire a consultant.
A management consultant can help you generate new ideas and think outside the box. They can also provide valuable feedback on the feasibility of your ideas and help you develop them further.
It is important to get an outside opinion, especially if you are considering ideas like making a major change to your management process or cutting employees or departments. A consultant can help you weigh the pros and cons of your options and make a decision that’s in the best interest of your business.
3. Managing consultants can give valuable expert insight
Expertise and knowledge are two of the main reasons businesses hire management consultants. When you work with a consultant, you have access to their wealth of knowledge and experience. This can be extremely valuable when making decisions about your business.
If you are thinking about expanding into a new market, a management consultant with expertise in that particular market can help
For example, let’s say you are a startup that’s working on a new application, but you don’t know how to create an app. A management consultant who specializes in app development can help you understand the process and give you advice on how to structure your team, manage the project, and develop the app.
If you are not sure whether or not your business is ready to take on a new project, a consultant can also help you assess your risks and opportunities.
5 Signs You Need to Hire a Management Consultant
Hiring a business consultant is a big decision, but if you are feeling stuck or facing a challenge that’s outside your area of expertise, it might be time to bring in some help. Here are five signs that you need to hire a management consultant:
1. Your team is underperforming despite your best efforts
If you’ve tried everything you can think of to improve your team’s performance and nothing seems to be working, there are several reasons this could be:
- Your team needs more training and onboarding materials.
- Your company’s culture is toxic.
- You’re not delegating tasks effectively.
- The resources you give your team are inadequate.
In some cases, the company may not even realize that there is a problem. If this is the case, a management consultant can help you identify the root of the issue and make recommendations for how to fix it.
2. You are bringing on a significant number of new team members
Whether you just finished a round of funding and are expanding your team or you are acquired by another company and need to integrate new employees, adding a lot of new people to your team can be chaotic.
A few issues that come up from time to time are:
- People are not being properly trained.
- Lack of clarity around roles and responsibilities.
- Lack of leadership capacity to manage the influx of team members.
A management consultant who works with high-growth companies can help you avoid these pitfalls and set your team up for success by analyzing your company’s needs and developing a plan to integrate the new team members.
3. Your projects never finish on time
Sometimes, projects just take longer than expected. But if it feels like your projects are constantly being delayed, it is a sign that something is wrong with your project management process.
There are several reasons why projects might not be finished on time:
- You are not setting realistic deadlines.
- You are not allocating enough resources to the project.
- The project scope is too large.
- You are not tracking progress effectively.
Taking a holistic view of management and team dynamics to assess productivity issues is something best done from the outside looking in. Management consulting can be an invaluable tool in providing unbiased, third-party analysis to help you get your projects back on track.
4. You are not sure how to enter a new market
If you are thinking about expanding into a new market, your managers and team members might not be prepared. Especially if they’ve been selling, developing, and marketing a product or service in the same market for years, new market entry can pose a challenge.
A management consultant can help you assess the risks and opportunities of entering a new market and develop a plan to enter the market successfully. They can also help you understand the regulatory environment, build relationships with key stakeholders, and develop go-to-market strategies.
5. Your current teams operate in silos
87% of today’s sales and marketing leaders say that sales and marketing alignment has been critical to their success. Aligning these two teams can be difficult, especially if they’ve been operating in silos for a long time.
There are several reasons why sales and marketing might not be aligned:
- They have different incentives.
- They don’t trust each other.
- Communication tools are ineffective.
- They are not sharing information.
Communication and alignment can be difficult, especially if you are moving your business online. If you want to align your sales and marketing teams, a management consultant can help you by assessing the current state of affairs, developing a plan to improve alignment, and implementing change management processes.
Management Consultant Are Important to Business
If you are experiencing any of these signs, it might be time to hire a management consultant.
By looking deep into your business processes and operations, a management consultant can help you solve the underlying issues so that you can continue to scale your business successfully.
I am Adeyemi Adetilewa, a media consultant, entrepreneur, husband, and father. Founder and Editor-In-Chief of Ideas Plus Business Magazine, online business resources for entrepreneurs. I help brands share unique and impactful stories through the use of public relations, advertising, and online marketing. My work has been featured on the Huffington Post, Thrive Global, Addicted2Success, Hackernoon, The Good Men Project, and other publications.