So, after being employed for over 25 years, I now believe I have the broad expertise needed to help others. I am looking to become a Business Improvement Consultant. I can apply tried and tested practices within any working environment and develop techniques that can improve the financial strength of that business.
Here are the questions:
Has anyone used these type of services?
Would SME's be interested in using this type of service?
And the final $64,000 question; what would you be willing to pay for this type of service?
I know these type of service companies exist and they have started out at some point.
Thank you for viewing and your comments will be taken on board.

You're asking people who come to a business forum for free advice if they would pay for business improvement consultancy. IMO this is not the right place to ask such a question - in that, your market research should be done on your target market.

Quality businss consultancy is usually several hundred pounds a day and more, so no one here will typically be able to afford that.

Thank you for your quick response.
The questions were asked from a "start up business" perspective, not as fishing questions, but I take your points on board.

What you have to ask yourself is what can you offer that other business consultants cannot... accountants, solicitors, banks do you offer special skills etc

What backup do you have? If you advise a business to follow route X and the business fails, where do you stand?

Why should a business take advice from you having previously been an employee rather than business owner?

These are questions you should be looking at before trying to get an idea of pricing your service, and who may take your service.

Grinder

I didn't think you were fishing (otherwise it would have been deleted) - I took it as you wrote it.

My point was, most people using the business forum are micro businesses/sole traders who can't generally afford that level of service.

I've been doing it for over 20 plus years now, and yes, some SME's are prepared to pay for advice and support - experience suggests you have to find the ones that recognise the benefits and want to have a go - having to persuade them that they need you is a tough job!
I guess key issues for you are likely to be:
what specifically can you help businesses do better (anything and everything doesn't tend to work!)
Can you 'demonstrate' that - examples and 'track record' ('experience' as an employee is fine by the way)
Why you (there are lots of us out there!)
Happy to have a chat with you over the phone if you'd find it useful!

Andy

Here's where I get angry with the vast majority of 'consultants'; they never share in the risk but always want the reward.

If you want to get a strategic advantage; offer a 'no win no fee' service i.e. if your consultancy improves the performance in your clients business, you get remunerated, if you don't...you don't.

This is the premise I worked under when I was actively promoting my own consultancy, I worked on a shared risk reward basis. This worked for a number of reasons:

1) It gave me the flexibility to work on any one project for the time I thought it merited
2) It was good for the client because, if I decided to get involved in a project, the client had some reassurance that I believed in the project; on the flip side, if I decided NOT to get involved in a project, it was a way of telling the client I didn't believe in the project (so why would someone else)
3) It is the way I was introduced to Tom Fripp and got us starting Fripp Design and Research!

You need to realise that the 'good times' for 'consultancy' are coming to an end, the grant/funding streams underwritten by the Government will dry up as we tackle the deficit; another good reason for working on a no win no fee basis.

PS; if providing professional advice, you will need Professional Indemnity insurance; £250K of cover will cost you circa £500/annum

Why should you get angry?

The vast majority of business owners don't want a business partner, they want advice.

Steve

I think you're being a bit harsh there!

Consultancy is often not about 'making people do stuff', it's about providing ideas, stimulation and help. Some people simply need an outside view to confirm that they are on the right track.

My experience is that when people are investing their own time and money in things like this is that they work hard WITH the consultant to make things work together.

Sometimes you can provide 'recommendations' that the client simply doesn't then implement - who's fault is that?

Bringing someone in on a 'no win no fee' basis is no guarantee of success at all.

That anology works in every sector. How many holiday companies say ' we'll guarantee you'll have a brilliant holiday or it's free'? They wouldn't do that, because you can put people in a lovely hotel, or on a lovely beach, but they still don't enjoy themselves for lots of other reasons.



Working with a consultant is a two way thing - yes, the consultants have to 'add value', and the client needs to 'make it happen'.

Steve

I think you're being a bit harsh there!

Consultancy is often not about 'making people do stuff', it's about providing ideas, stimulation and help. Some people simply need an outside view to confirm that they are on the right track.

My experience is that when people are investing their own time and money in things like this is that they work hard WITH the consultant to make things work together.

Sometimes you can provide 'recommendations' that the client simply doesn't then implement - who's fault is that?

Bringing someone in on a 'no win no fee' basis is no guarantee of success at all.

That anology works in every sector. How many holiday companies say ' we'll guarantee you'll have a brilliant holiday or it's free'? They wouldn't do that, because you can put people in a lovely hotel, or on a lovely beach, but they still don't enjoy themselves for lots of other reasons.



Working with a consultant is a two way thing - yes, the consultants have to 'add value', and the client needs to 'make it happen'.

Andy,

You, and a few others, are the exception to the rule; interestingly I was in a meeting, today, with a guy who used to work for one of the VC funds, they actually banned dealing with one consultant because he was cutting and pasting between various business plans and was eventually caught out. Appreciate this is the extreme, however you know there are alot talkers rather than doers out there.

We had personal experience with a consultant who was assigned to help us on a project; the guy cancelled the first meeting a day before he was due to see us and, when he eventually came to see us, he spent the first hour of the meeting clock watching to finally say to us "Your project is a bit early for my expertise" and got up and left...he would have been paid £250 for that 'meeting' if I had not personally intervened to complain! You and I both know there are individuals out there who are working/playing the system for all its worth...good news (from this thread's perspective...not for future generations of entrepreneurs) is that much of the funded support will disappear after the general election...lets see how many Consultants survive when this all happens!