The Importance Of Business Consulting 

It’s 2020, entrepreneurs are the new celebrities and online coaches, courses & value content marketing has reached an all-time high. It seems as if self-improvement has became the new “cool” and it’s all about achieving personal/business success. For seasoned entrepreneurs it’s evident that what has actually been the norm since forever has finally gotten to the eye of the public – thanks to the internet. No matter which social media networks you use, nobody can escape the targeted ads of various entrepreneurs and experts offering all sorts of solutions for business owners, freelancers, and anyone with an intention of starting a business.

These are trying times as the economy has tanked during the COVID-19 pandemic, but somehow the worlds’ top earners have managed to increase their wealth. As a matter of fact, American corporations got $434 billion richer during the pandemic. Yep, you’ve read that right! The not-so-secret formula for their success is actually simple; they managed to apply their knowledge and pivot their strategies while consulting with qualified teams of experts that helped them to continue to profit in a situation where most are suffering incredible losses.

How did they do this?

People who continue to do well are not over-leveraged and when they have to pivot they are not burdened with a lot debt. The team you surround yourself with makes all the difference – smart money has diversity within their leadership team. The key to that is to create a collaborative environment and team up with people who have a base of knowledge in a number of given areas. But at the end of the day – the CEO is the person that makes the final call. Nobody can run a company on a consensus as some people simply can’t own their decisions. What American corporations didn’t do for sure is buy a one-size-fits-all hype “solution” from a lead funnel on social media claiming they can double their investment in 90 days… The internet is literally loaded with millions of consultants and mentors who say they can deliver exactly what you need.

But let’s take a step back… Who REALLY is a business consultant? According to the Oxford dictionary, a consultant is someone “engaged in the business of giving expert advice to people working in a specific field.” All businesses, from small to massive corporations, go through almost identical business processes and are in essence in need for the same type of business advisors. Professionals who REALLY are business consultants are the ones who have proof of their success working with various companies and come highly recommended by other established business owners.

No matter at which stage of your business you’re in, one thing is for sure – everyone needs solid, applicable, qualified advice. I advocate professional consulting for anyone if they are venturing into a business or put in the capital at risk in a space where they have little knowledge or if they are an already thriving entrepreneur with goals to further expand.

Sometimes people chase financial opportunities without any practical business experience or knowledge within that given area. That’s when leveraging the knowledge of someone else, with a proven track record, is the wise and prudent thing to do. You’re not only saving money – you save time, mistakes… and most importantly time to market with a legitimate viable product or service.

Professional business consulting can have an incredibly positive impact on your business. If your business is suffering or you’re unsure in which direction to branch out an outside objective perspective is most likely the exact thing you need to achieve your goals. Every problem has a solution and as someone who has successfully solved millions of them (yes, I counted 😉) I can assure you that the right consultant can make a world of difference in your business.

Take my advice on this!

Peter Taunton