National Federation of Enterprise Agencies Call 01234 831623
Offers a free and independent source of information and advice for entrepreneurs, owner managers and the self employed who are starting or running a business with fewer than 10 staff and based in England.
12 Stephenson Court, Fraser Road, Priory Business Park, Bedford, MK
Consultation is often required by many businesses. Large and small organizations require business advice regarding various aspects. Generally business advice business is not a capital intensive but it requires huge operating cash. If you are planning to start business advice or consultation then you need to recruit professional candidates from various sectors and to retain them you need to pay good salaries which demands operating cash margin. Person who intends to start business advice needs to be highly educated in prestigious organizations or needs to have good work experience. Good work experience, education to relevant field and very good project report will partially fulfill the criteria of bankers and financial institutions for obtaining a loan.
Generally when bankers and financial houses finance for a certain company they tend to visualize the pledged assets and other stationary movable and non movable equipment as collateral. In business consultation main role would be played by human resources than any other machinery or patented products. Finance should be secured from more than banker or financial institution because obtaining and retaining services of a particular banker for operating cash is a tough choice. One could do is obtain a term loan from the bank and convert part of it to operating margin but do consult with your Chartered accountant for better advice.
Many businesses require consultation before embarking on a new project, business direction, new client, new vertical or horizontal growth strategies, technology, machinery, industrial up gradation, environmental study and affects, etc. Consultation often deals with a bit of research. Many consultation projects require in depth understanding of the service requested and research because companies tend to act according to the consultation advice. The project report or consultation report will be provided to the financier, banker, share holder, board meeting, top employees of the company, etc. These people study, examine and recommend accordingly. Often consultation or business advice is required within months and in some instances it takes years for completion. Research plays a crucial role in business advice.
A consultant requires sophisticated technology which can pile up data and analyze accordingly. Recently with the development of data warehousing business advice is becoming possible. It is to be remembered that software`s like business systems, servers, data back ups, data ware housing, Oracle, data mining software`s, etc are becoming costlier and the only solution is to have a single client for providing you services and technology. These software`s and technology should be procured and developed within short time. Also client requirements change accordingly and software needs to be developed or modified according to his requirements.
Often clients need their employees to be trained on new technologies and skills. This training is provided with business advisers. In certain cases professionals from all over world are flown into the consultation center to train employees with new skills. Small and medium scale business advisers can concentrate on this vertical because it offers good opportunity for interaction with client and scope for development as margins are good.
There are various different branches which a business adviser can concentrate such as Life coaching, Business coaching, personal coaching, health coaching, sports coaching, dating coaching, conflict coaching, etc. Business coaching trains people in leadership, corporate skills and makes a person executive. Often business coaching is required by business which are under performing, struck with losses, etc. Some of the key skills which are developed by business advisers are leadership, strategic planning, employee accountability, sales, marketing, team work, vision, goal setting, framework, etc. There are two different professional associations such as worldwide association of business coaches and