A Project Management Consultant could mean the difference between success and failure for projects, and even for businesses. As a “fresh set of eyes” a consultant can often see where processes or methods are lacking, and recommend solutions based on previous experiences.
The best time to consider hiring a consultant is before your company faces serious trouble. For example, if your small business is doing poorly and or your profits continue to get smaller each year, and you are in desperate need of cash flow to pay your overdue bills, it may be too late for a project management consultant to help turn things around.
Retaining a consultant to review your business or plan objectives only makes sense if you are going to follow the consultant’s advice. On the other hand, if you do not want to follow the consultant’s advice, chances are your business will continue to slide until eventually your cash is gone.
Here are some things successful owners have in common when hiring a Project Management Consultant:
- The owners that have experienced the best results have an open mind to the consultant’s suggestions. The reason for having the consultant to help you is to give their opinion. You must be willing to take the advice and use it for your small business. Doing business as usual will keeps the organization heading the wrong way.
- The owners and their employees give full cooperation to the consultant. Management has a tendency to be upset with a consultant. They feel that their toes have been stepped on and do not want to follow the consultant’s advice. This will hurt the consultant to do the proper job in evaluating the issues in the small business. Often, the management is part of the reason for the struggles.
- Good owners know their previous course of action will continue to produce unsatisfactory results. If the owner waits too long, it will be too late for the business to be saved. No matter how effective the consultant, if the owner waits until their cash is almost gone, the business probably cannot be saved. If you cannot afford a consultant, your business is beyond rescue.
- Hiring a consultant should be looked as an investment. Many owners treat it as an expense. For example, let’s say you pay a consultant $3,000. If his findings are able to save you or make you $25,000, is that an expense of $3,000 or have you profited by $22,000?
Many consultants charge by the hour. Depending on what you need done, it is normally best to get a fixed fee for a specific project. However, if you are low on funds or want a consultant around for a while, the hourly fees may be the best bet.
A Project Management Consultant can help a struggling business. However, the consultant suggestions will not be effective without an owner following the advice given. Following all parts of a consultant’s plan will lead to increase profits and cash flow.