Consultancy the King Maker of Opportunities and Worth :"Consulting is the most improbable business on earth: successful firms hiring people who are fresh out of school to tell them how to run their businesses and paying millions for their advice."
Businesses need business plans and Bplan Investor presentations through powerful visual infographics that sheds light even on financial forecasting. Being a Financial advisor leveraging the competence of financial consultancy is a path taken by many a startup consultancy meandering through the technicalities like Quick Books Bookkeeping Accounting, Equity Research and make business sense.
In a world full of ideas and theories to stand out with your opinion with data by your side and your analysis is the job of a consultant. The dream of providing the client with a subject matter expert and help in further improving the operational and strategic aspects is a key function area.
Consultants often meet personally with the clients in order to understand their financial situation and pain points and can impend both short term and long term financial goals. Any life event or changes like marriage, job change, birth of child can alter plans and hence reaching the prospective client at the correct time is important. The financial consultants often are licensed to buy and sell the products like insurance policies, stocks, bonds and so on. They may offer financial classes detailing budgeting, planning through exhibition and seminars to prospective clients.
The right way to expedite the consulting services is to being there, at the right time, and ensuring the right people know your worth.
The consulting project should be at hand even before the consultancy begins. The marketing effort should have idealistically led to a client who is ready with Consulting Request for Procedure(RFP) The foremost requirement from then on wards is to approach the client defining the following:
• Scope of Work and Terms of Reference
• Work Plan
• Consultancy Fee & Payment Schedule
• It ends with completion of all deliverable delivered as per agreed scope and ToR
• The litmus test of a successful completion of consulting is IMPLEMENTATION and delivering the results
• Visualize the End Goal and Success
• Understand the Client's Situation and Scenario which can involve
• Data collection
• Discovery of even the complexities and Implications
• Due diligence
• Design Solution Options
• Develop initial hypotheses
• Ensure that in principality there is MECE (Mutually Exclusive, Collectively Exhaustive)
• Test the hypotheses
• Collaborate with the client to select the right solution option
The following are the many ways in which consulting can rejuvenate business:
• Modernize business applications
Unlock value from data hidden in the applications for better decision-making through Data Analysis and Financial Modeling even an Excel Analysis can be through Insights.
• Lower costs by simplifying the application
Help reduce costs and resources involved in managing and updating outdated applications. Techniques like excel modeling through financial analysis can help in budgeting and proper valuation by reduce over estimation.
• Enable digital transformation across the enterprise
Break down silos between data sources to deliver a clearer picture of the organization.