What is a Growth Consultant and How Do They Help Your Business Grow?
- January 10, 2022
- Posted by: IDMG
- Category: Strategy & Consulting
Growth consulting sounds like an oxymoron—how can you consult about growth? It seems like something that happens naturally, right?
Growth consulting isn’t about telling you what to do or how to do it, it’s about offering advice and insights based on experience and data that you can use to develop your own growth plan that will actually work.
If you’re curious about how to grow your business, how growth consultants can help, or why you need one in the first place, keep reading!
Why Should You Hire a Growth Consultant
If you own a business, you probably have visions of its success: Maybe it’s your ticket to financial freedom. Maybe it’s just your side job that helps pay for vacation time every year.
Whatever your aspirations are, here’s one thing you should know:
If you don’t have plans for growth, those hopes may never come true. The fact is, businesses—even successful ones—need to adapt to changing times if they want to maintain (or increase) profitability.
Tips for Working with Growth Consultants
Whether you work with an agency or freelance consultants, it’s important to have realistic expectations for their services. Here are some tips for ensuring you get exactly what you need from your growth consultant.
Make sure they have access to a business modeling tool where they can quantify and justify the growth. What I mean is a map of the current state showing how to get to the desired goal with actual data justifying the reasonings. You want to make sure that whomever you bring on has the ability to solve for profitability on a sales, marketing, and or product level.
Solving inefficiencies is the key to increasing revenues in any organization so having a consultant that is skilled in this is what will unlock the fastest growth possible.
Things to Look for in a Growth Consulting Firm
Some growth firms will talk big, but they’re not necessarily equipped to take on clients at your stage. Look for a company that’s been in business long enough to prove it has something to offer, and make sure its members are ready for enterprise-level work. Some agencies specialize in specific industries others have a more non-homogenous experience level so choose wisely.
Questions to Ask When Choosing a Growth Consulting Firm
There are many factors to consider when choosing an agency to help you grow your business. In fact, there’s so much to think about that it may seem overwhelming. The following question can help you figure out if a firm is right for you. Ask: How does your growth process work?
A qualified firm will provide detailed information about their services and pricing model, especially when compared to others in their industry. They will have a repeatable process that has been proven to work time and time again. These are the firms that know what they are doing.
Business is simply solving inefficiencies until proving profit, then scaling up, rinsing, and repeating. So, you will know when you find the right team you’ll feel safe and assured you are on your path to success..