Business Consulting
Business Consulting refers to both the industry, and the practice of, helping organizations improve their performance, primarily by thorough analysis of existing business problems and development of plans for improvement.
Business Consulting is equally beneficial to an entrepreneur with a business idea or an existing business in operations. Business consulting has become more prevalent in non-business related fields as well. As the need for professional and specialized advice grows, other industries such as government, quasi-government and not-for-profit agencies are turning to the same managerial principles that have helped the private sector for years.
EBS Business Consultants provides overall solutions, strategizing stabilization for the long-term success of the business. EBS Business Consultants will minimize expenses and maximize profits through an approach of proven process.
EBS Business Consultants invest time getting to know and understand the operations of the business. Substantial Steps are taken to assure all aspects of the business is given consideration.
Step I – Learning About the Business
- Tour the Company’s facilities
- Read all the company materials
- Meet with the Board of Directors, all executive heads, founders and owners, Department Heads and Key Employees.
- Understand the product or service
- History of the business
- Business track record
- How the business is run
- How decisions are made
- How problems and opportunities are handled
- Company process, trade marks
- Company’s competitive advantages
- Financial track record
- Banking and finance connections
- How the company is organized quality control
- Employee incentives, benefits, and wages
- Meeting the company’s advisors and consultants
Step II – Identifying Problems
- Problems seen by ownership and management
- Problems/ issues identified by the business consultant
- Business consultant given unrestricted access to the company so that problems can be identified
- Identify revenue points and expense ratios for all products and services
- Understand tax implications
- Important: Open, clear communications between the consultant and the company’s people. Trust is vital.
Step III– Identifying Opportunities
- For every problem/issue, there is a hidden opportunity
- Opportunities seen by ownership, management, and key employees
- Opportunities discovered through the business consultant’s process
- Understanding margins, sales history, and sales growth
- Understanding and identifying new products and services
Step IIIV – Analysis
- Business consultant analyzes the identified problems and opportunities while keeping in mind, a clear understanding of the business
- Business consultant decides which problems and opportunities are important and which are not
- Identify potential future problems
- Identify symptoms of problems provide certain conclusions and facts based on the analysis
- Provide certain conclusions and facts based on the analysis
Step V – Solutions
- Business consultant provides a plan which provides solutions and identifies opportunities
- Business consultant illustrates how certain expenses can be reduced and how certain profit areas can be maximized
Step VI– Receive Feedback and Adjust Plan
- Business Consultant receives feedback from the business and its advisers on the proposed Plan
- Business Consultant oversees implementation of the business plan
- Business Consultant tracks progress of the plan
- Plan is readjusted as necessary moving forward
- Business Consultant ensures plan is integral to the company’s goals.
