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The Art of Consultancy

It is necessary for an entrepreneur to seek the assistance of various consultants for business start-up, running and developing support.

Knowing quite well that the best consultants for an entrepreneur is family and friends and the company’s employees – and not least other entrepreneurs – this section focuses on the professional consulting service in terms of private or public advisers, lawyers, account officers, etc.

Prepare consulting

Consulting services can be a crucial factor for a company’s prosperity and eventual survival. Proceed with common sense and thoughtfulness.

Good advice does not turn up spontaneously. It takes preparation and follow-up. And first and foremost successful consultancy service takes an entrepreneur disposed to consulting, an entrepreneur who knows how to use a consultant.

Mainly, two types of consultancy need exist for the entrepreneurial business:

  1. Technical consulting services
  2. Strategic consulting services

1. Technical Consulting Services

Typically, an entrepreneur will have to identify the need for technical consulting services him/herself as it usually arises from a problem that requires a here-and-now solution.

A problem arises and the entrepreneur begins a search for a consultant specialised in the specific field. If the right one is found the problem is solvable and the entrepreneur can resume interrupted work.

Technical consulting services include accounts, IT acquisitions, web site creating, working out sales letters, etc.

2. Strategic Consulting Services

Whereas technical consulting services solve a specific problem, strategic consulting services cover the over all challenges a business owner comes up against.

Answers, which strategic consulting services can help you find:

  • Which clientele should I aim at?
  • Should I focus on one service only?
  • Should I go for the Scandinavian market or the European?
  • Should I employ staff or co-operate with colleagues?
  • Will I be able to benefit from the privatisation of the health sector?

To assist to such decisions the consultant must be able to take on a holistic approach. If your accountant is capable of that, it is obvious to consult him/her. Alternatively, you will have to find out who would make a suitable sparring partner.

Personal Selection

As a business owner you are surrounded by experts and good friends, each handling their individual piece of the jigsaw puzzle that running a business is. However, it is for the owner him/herself to complete the jigsaw puzzle.

Probably the best advice I ever got in my life was from the head of the accounting department, Mr. Hutchinson, I believe at the Glidden Company in Chicago, and he told me: You really aren´t cut out for accounting.
- Bob Newhart, American stand-up comedian

Gross Profit - how to act on it
SWOT Analysis + PO
Contribution Ratio vs Markup
Credit Sale
Contribution Margen or Gross Profit
Influence on Profits
Fixed Costs / Overhead Expenses
Terms of Sales and Delivery
Reduce Stock
Keep Control
The Art of Consultancy
What is Accountancy?
Principles in Accounting
Understand Financial Info
Safeguarding Your Assets
Help to Take Action
Close your Business