How consultants can help businesses unlock growth in times of change

It can be hard for businesses to keep up with a constantly evolving market. Technological advancements, sustainability concerns, workplace trends, new laws and changing customer behaviour can seem overwhelming. There is, of course, a need to keep pace, but this can be challenging with a myriad of competing priorities.

But there can be a simple solution. Consultants offer the opportunity for employers to quickly upskill their business in specialisms that they may not otherwise have in-house. These external professionals offer expert advice and solutions for short-term projects, all without the long-term commitment of hiring a full-time employee. They bring fresh perspectives and innovative ideas to the table, introducing novel solutions that businesses may not have previously considered.

From large strategy consultancy firms and functional specialists to smaller industry-specialist firms and freelance consultants, there are a wide range of options for businesses to consider when they need extra support.

Who’s who – choosing the right consultancy for your business

• Strategy consulting firms – If advice on long-term goals is what your business needs, then strategy consultants may be the right choice. These firms focus on analysing markets, identifying growth opportunities and forming actionable plans to achieve a business’s goals. Most strategy consulting firms can also offer assistance to help businesses fulfil longer-term plans. Think of Deloitte and Accenture as examples.
• Functional specialists – Functional specialist consultancy firms are experts in specific areas such as finance, human resources, marketing, or IT. If in-depth knowledge and experience in a specific field are required, then these firms can bring targeted expertise to solve challenges as well as optimise processes within the functions of a business.
• Industry specialists – For businesses operating in niche sectors that require guidance within these fields – for example, healthcare, technology, or retail – industry specialists could be a good option. Possessing in-depth insights, knowledge and experience within a specific sector, they understand how to help businesses harness the unique opportunities of their sector.
• Freelance consultants – If you’re looking for speed and agility, which – let’s face it – is the case for most businesses, then freelance consultants offer the ability to respond rapidly to the fast-changing business environment that we’re all working in. They can be onboarded quickly, meaning they can immediately get to work on projects promptly – responding to market changes and optimising output. The freelance marketplace also offers the ideal opportunity for businesses to adapt to new and emerging trends and technologies, without having to budget for a full-time employee.

How to hire a consultant

Budget is always a consideration, and hiring consultants is an investment that must be carefully considered to ensure you hire the right people for your business’s needs. A good process to follow is:

1. Define your objectives and expectations for engaging a consultant or a consultancy firm.
2. Conduct research to identify potential consultants that meet your objectives and expectations, as well as budget. Consider experience, reputation and client testimonials.
3. Shortlist candidates and request proposals and interviews with the team to assess whether they are a good fit for the business.
4. Once you’ve decided on who you want to hire, negotiate terms with the consultant, including project scope, timelines, fees and deliverables.

This process may slightly differ when hiring a freelance consultant. Think of treating the hiring process for a freelance consultant as you would a member of a full-time staff. Carefully review their experience and credentials to ensure they meet your expectations. For those that do, conduct a reference check by reading through their reviews, which is a good way to gauge both a possible candidate’s reliability and reputation. Finally, as opposed to an interview, conduct a sourcing call to assess the freelancer’s communication skills and ability to collaborate effectively with your team and align with your expectations.

For businesses grappling with skill shortages and budget constraints, filling the gaps can seem like a daunting prospect. Tapping into the burgeoning consultancy marketplace is a logical and cost-effective solution to this and – combined with a solid hiring strategy – can provide businesses with the skills to put themselves ahead of the competition.

Oliver Woolrych is a former senior community manager at Fiverr.